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Home My WebLink AboutBudget presentation 2 FY 13/14 BUDGET OVERVIEW The FY 13-14 budgeted expenditures amount •totals $28,636,628 for all funds Fund Balance shows a reduction of $7.977M due primarily to •Capital Projects fund $7.278M •Enterprise Fund Projects $1.189M This represents a 32% fund balance decrease •Spending a portion of $9.5M bond money received in FY 12/13 Town Council Budget Workshop - 09/16/13 Compared to FY12/13 Estimated Budget RECENT UPDATES HAVE RESULTED IN AN INCREASE TO FUND BALANCE OF $228,310  3 FY 13/14 BUDGET OVERVIEW Compared to FY12/13 Estimated Budget Expenditures (increased $10.128M) $477K – increased debt service payments ($9.5M bonds received in FY12/13) $395K - Increased payroll expenditures •$98K - add Fire Dept Lieutenant position •$56K - add Human Resources Generalist position •$8.4K - change part time UB clerk to a full time position •$115K - phase 2 market adjustments ($100K base + $15K taxes) •$13K - maintain cost of current staff at current salaries/benefits •$50K – increased insurance costs (18%) •$52K – increased payroll tax and retirement costs (15%) •$41K - increased Keller Police contract services $56K - increased building inspection contract services (offset by revenues) $338 - Comprehensive plan update Phase I of II 23K – Permitting Software 41K – Bunker gear for part time firefighters $475K – Westlake Academy $7.894M – Capital Projects Town Council Budget Workshop - 09/16/13  4 AD VALOREM TAX RATE FY 10/11 Actual FY 11/12 Actual FY 12/13 Estimated FY 13/14 Proposed Total Appraised Value $1,025,535,296 $1,090,892,532 $1,213,602,021 $1,233,405,814 Net Taxable Value $880,169,946 $913,119,313 $864,452,946 $865,771,389 Property Tax Revenue $1,257,246 $1,442,069 $1,355,808 $1,357,875 Based on July 2013 tax roll Estimated Appraised Value to increase 1.63% Residential/commercial growth offset by homestead exemptions and abatement Tax Rate Remains the same (.15684) as FY 12/13 rate. Town Council Budget Workshop - 09/16/13  5 CIP DECREASED $118,535 PROJECT AMOUNT PROJECT DESCRIPTION $15,000 Trail Connection at Hwy 114/Solana $200,000 WA West Parking Improvements $99,000 Outdoor Warning System $5,708,601 Westlake Academy Expansion NOW $7,795,950 INCREASED $2,087,349 $1,133,544 FM1938 Streetscaping $390,940 SH114/Hwy170 Enhancements $7,547,085 TOTAL CAPITAL PROJECT FUNDS $82,967 TRA Assumption of N1 Sewer Line $1,438,913 Ground Storage Tank Project $1,532,079 TOTAL UTILITY FUND PROJECTS $9,068,964 $11,156,314 TOTAL FUNDED PROJECTS NOW Fiscal Year 2013/2014 FUNDED CIP S UMMARY Town Council Budget Workshop - 09/16/13  6 PROJECTED ENDING FUND BALANCES All Funds Shown in millions Actual Estimated Proposed Projected Projected Projected Projected Projected FY 11-12 FY 12-13 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 General Fund $4.383 $5.120 $5.514 $5.433 $5.164 $4.728 $4.366 $4.082 Special Revenue Funds $1.245 $1.089 $1.120 $1.138 $1.175 $1.183 $1.196 $1.200 Debt Service Funds $0.023 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 Enterprise Funds $5.148 $6.894 $5.704 $5.616 $5.516 $5.625 $5.717 $5.792 Internal Service Funds $0.973 $1.226 $1.220 $1.666 $2.110 $1.081 $1.783 $2.485 Capital Project Funds $3.581 $9.924 $2.646 $0.150 $0.156 $1.717 $0.168 $0.168 Projected Ending Fund Balance $15.353 $24.253 $16.205 $14.003 $14.121 $14.333 $13.230 $13.727 Now 15.353 24.870 14.430 13.187 13.264 13.565 12.440 12.965 Change $0.000 $0.517 -$1.775 -$0.816 -$0.857 -$0.768 -$0.790 -$0.762 Town Council Budget Workshop - 09/16/13  7 NEXT STEPS Monday 09/16/13 Regular meeting Public Hearing and Adoption Town Council Budget Workshop - 09/16/13  8