HomeMy WebLinkAboutMunicipal Budget presentation
Town Council Budget Workshop 3
1. As a Policy Document
•budget policies, goals and objectives
2. As a Financial Plan
•financial structure, stewardship and setting service levels
3. As an Operations Guide
•direction through the use of goals and objectives
4. As a Communications Device
•for readers with a non-financial background
5. Vision, Values & Mission
•aligns resources and strategic plan to V V M
08/10/2016
Vision Statement
An oasis of natural beauty that
maintains our open spaces in
balance with distinctive
developments, trails, and quality
of life amenities amidst an ever
expanding urban landscape.
Mission Statement
Westlake is a unique community blending preservation of our natural environment
and viewscapes, while serving our residents and businesses with superior municipal
and academic services that are accessible, efficient, cost-effective, and transparent.
Strategic Themes
Natural Oasis
Exemplary Service & Governance
High Quality Planning, Design & Development
Exemplary Education – Westlake Academy
Town Council Budget Workshop 08/10/2016 4
V V M
Forging
Westlake
Challenges
Identified
Comp Plan
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Themes
Perspectives
Outcomes
Town Council Budget Workshop
S L A Comp Plan
Challenges
08/10/2016 6
FY 2012-13 “Driving Service Excellence”
Leadership, Teamwork, Integrity
FY 2013-14 “Moving Forward Together”
A Growing Community & School
FY 2014-15 “Community Growth”
On the Horizon
FY 2015-16 “Forging Westlake”
Writing the Next Chapter
Town Council Budget Workshop
Section 1 Pages 2-3
08/10/2016
Packet Pages 8 -9
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Town Council Budget Workshop
Section 1 Pages 2-3
08/10/2016
Packet Pages 8 -9
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Town Council Budget Workshop 08/10/2016 9
1.Recognized for Transparency Efforts & Fiscal Stewardship
•4th City to receive new Comptroller Transparency Award; GFOA Awards for Budget, CAFR, PAFR
2.Began Using the Updated Comprehensive Planning Document
3.Continued Use of the Balanced Scorecard System for Strategic Planning
4.Westlake Academy Continued Growth
5.Granada Phase I Underway
6.Granada Phase II Infrastructure Being Built
7.Entrada Infrastructure Being Built
8.Solana Complex Revitalization Continues
9.Charles Schwab Location Announced
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REGIONAL CHALLENGES
1.DFW Metro Area Employment
2.Population Growth
3.Water Demand
4.Transportation, Mobility and Traffic Congestion
Town Council Budget Workshop
Section 1 Pages 3-4
08/10/2016
Packet Pages 9 -10
12
LOCAL CHALLENGES - MUNICIPAL
1.Westlake’s Permanent Population Growth
2.Traffic Demands Due to Growth (Westlake & Surrounding)
3.Balanced Growth to Impact Cost of Municipal Services
4.Daytime Population
5.Housing Start Increases
6.Maintaining Westlake’s High Quality Residential Housing
Town Council Budget Workshop
Section 1 Pages 4-8
08/10/2016
Packet Pages 10 -14
13
LOCAL CHALLENGES – MUNICIPAL (continued)
6.Commercial Development, Economic Development
7.Construction Costs Increases
6.Implementation of the Comprehensive Plan
7.Pursuit of Infrastructure & Services Reinvestment While
Combating Cost Increases
8.Staffing Levels, Insurance Costs, and Retention
9.Continued Emphasis on Long-Range Financial Planning
Town Council Budget Workshop
Section 1 Pages 4-8
08/10/2016
Packet Pages 10 -14
14
LOCAL CHALLENGES - ACADEMIC
1.Continued Impact of Westlake Academy on Residential Growth
2.Public Education Funding Shortfall
3.Staffing Levels, Insurance Costs, and Retention
4.Westlake Academy Overall Enrollment
5.Continued Emphasis on Long-Range Financial Planning
Town Council Budget Workshop
Section 1 Pages 4-8
08/10/2016
Packet Pages 10 -14
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Town Council Budget Workshop 08/10/2016 16
Town Council Budget Workshop
Compiled Using the Town Council
Fiscal and Budgetary Policies
No Changes to the existing Town
Council Financial Policies except one…
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Town Council Budget Workshop
Recommend Addition of Compensation Policy
o General policy and collection of rules that govern the calculation
of salary and benefit entitlement for all individuals employed by
the Town of Westlake such as…
•Determination of Salary/Benefits for New Employees
•Point Bands
•Market Adjustments
•Performance Pay
•Etc.
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Town Council Budget Workshop 08/10/2016
1. Municipal General Fund
2. Academic General Fund
3. Enterprise Funds (Utility Fund; Cemetery Fund)
4. Internal Service Funds (Utility M&R; General M&R; Vehicle M&R)
5. Special Revenue Funds (Visitor Fund, 4B Fund, ED Fund, LS Fund, PID Fund)
6. Debt Service Funds (DS Fund 300; DS Fund 301)
7. Capital Projects Funds (Capital Fund 410; WA Expansion Fund)
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Town Council Budget Workshop
Section 2 Page 16
PROPOSED FY16/17
$36.716M Revenues and Other Sources
•24% increase of $7.071M (line 23)
$37.944M Expenditures and Other Uses
•30% increase of $8.758M (line 54)
$(1.227)M Net Change to Fund Balance (All Funds)
$15.855M Ending Fund Balance (All Funds)
08/10/2016
Packet Page 22
$8M Bond Revenue
$(1.4M) Contributions
$8M Fire Station
General Fund, Enterprise, Internal, Special Revenue, Debt, Capital, Academy
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Town Council Budget Workshop 08/10/2016
Projected Total Total Projected
Beginning Revenues Expenditures Ending
Fund and Other and Other Fund Change Change
Balance Sources Uses Balance Amount Percent
General Fund 8,201,322 8,983,854 8,810,747 8,374,429 173,107 2%
Academic Funds 1,117,391 8,399,173 8,397,745 1,118,819 1,428 0%
BUDGET IS BALANCED $ 9,318,713 $ 17,383,027 $ 17,208,492 $ 9,493,248 $ 174,535 2%
Enterprise Funds
•Utility Fund; Cemetery Fund 2,030,713 3,681,992 4,242,077 1,470,628 -560,085 -28%
Internal Service Funds
•Utility M&R; General M&R; Vehicle M&R 1,001,323 929,203 1,458,700 471,827 -529,497 -53%
Special Revenue Funds
•Visitor Fund, 4B Fund, ED Fund, LS Fund, PID 1,718,552 3,118,150 3,282,856 1,553,846 -164,706 -10%
Debt Service Funds
•DS Fund 300; DS Fund 301 29,976 2,117,357 2,147,333 0 -29,976 -100%
Capital Projects Funds
•Capital Fund 410; WA Expansion Fund 2,983,271 9,486,785 9,604,585 2,865,471 -117,800 -4%
PLANNED USE
OF FUND BALANCE $ 7,763,835 $ 19,333,487 $ 20,735,551 $ 6,361,772 $ -1,402,064 -18%
GRAND TOTAL ALL FUNDS $ 17,082,548 $ 36,716,514 $ 37,944,043 $ 15,855,020 $ -1,227,529 -7%
Individual Fund Summaries will detail these changes
21
I F O NLY M UNICIPAL O PERATING E XPENDITURES
were taken into consideration
(removal of all expenditures related to Capital Projects, Westlake Academy and Transfers)
the FY 16/17 proposed budget would show
A N I NCREASE OF 3% = $398,100
compared to the FY 16/17 base budget
Town Council Budget Workshop
Estimated Proposed
Budget Budget CHANGE CHANGE
FY 15/16 FY 16/17 AMOUNT PERCENT
Total Payroll & Related 4,207,966 4,702,017 494,052 12%
Total Expenditures 9,906,009 9,810,057 -95,951 -1%
LINE 43 TOTAL $ 14,113,975 $ 14,512,075 $ 398,100 3%
Section 2 Page 16
08/10/2016
Packet Page 22
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Town Council Budget Workshop 08/10/2016 23
Town Council Budget Workshop 08/10/2016
The Town utilizes “service level
adjustments” to NORMALIZE tracking of
our budget cost increases or decreases.
A service level adjustment (SLA)
is a request for any dollars in excess
of the “Base Budget”.
(FY 2015-16 budget, adjusted for year-end
estimates, less one-time purchases).
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Town Council Budget Workshop
ONE-TIME ON-GOING TOTAL DETAILS
Bond Revenue 8,500,000 -0- 8,500,000 Bond Revenue Fire Station
Transfers In 450,000 179,672 629,672 Will be offset by Transfers Out
$450K Expansion $10K lots
All Other 710,000 934,689 1,644,689
$706K - Bldg Permits/Reviews
$450K - ED Fund WA $10K lots
$260K - GWF Ductbank
$125k - Property Tax
Academic -482,425 442,516 -39,909 $(25)K - Blacksmith decrease
TOTAL $ 9,177,575 $ 1,556,877 $ 10,734,452
percentage 85% 15% 100%
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Town Council Budget Workshop
ONE-TIME ON-GOING TOTAL DETAILS
Debt -0- 138,065 138,065 Fire Station Debt Payment
Eco Dev -0- 320 320 ED Fund 210 Deloitte Hotel Tax Payment
R&M 3,000 15,209 18,209 R&M costs for medians, buildings, equipment, HVAC,
mechanical, electrical, grounds
Rent & Utilities -0- 337,824 337,824 $337K to increase lease/utilities to $570K
Service 70,000 135,666 205,736 $47K Laserfische; $45K IT Upgrades; $30K
Masterplan; $25K VA Consultant; $16K Keller PD
Supplies 7,724 7,276 15,000 $6K Radio Supplies; $1K Computer Equipment;
$5K HVAC Supplies; $2K Security Supplies
Transfer Out 450,000 179,672 629,672 Will be offset by Transfers Out
$450K Expansion $10K lots
Water Purchases -0- 64,000 64,000 UF Fort Worth Water Purchases
Academic -0- -406,103 -406,103 WA expenditure decrease
TOTAL $ 530,724 $ 471,999 $ 1,002,723
percentage 53% 47% 100%
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Town Council Budget Workshop
ONE-TIME ON-GOING TOTAL DETAIL
Capital Outlay -0- 186,000 186,000 $175K - FFE new lease space
$ 12K - Fire Equipment
Capital Projects 7,215,685 128,400 7,344,085 $8M - Fire Station
$691K - Dove Road R&D
Major Maint/Replacement 1,132,700 110,130 1,242,830
$ 55K - Marshal Vehicle
$963K - Public Works Projects
$140K - WA Facilities Maintenance
$ 84K - IT Upgrades
TOTAL $ 8,348,385 $ 424,530 $ 8,772,915
percentage 95% 5% 100%
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Town Council Budget Workshop
Description Amount
(4) New Positions 242,140
(2) Change to Full Time 62,563
Market Increase (3%) 61,011
Base Wages & Salaries $ 365,714
Insurance (16%) 73,360
Taxes (13%) 35,583
Retirement (10%) 37,435
Related Expenditures $ 146,378
TOTAL PAYROLL $ 512,092
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Town Council Budget Workshop
BASE
WAGES
TAXES &
INSURANCE
TOTAL
IMPACT
Building Inspector 56,000 19,662 75,662
Development Coord / Mgmt Analyst 75,000 23,238 98,238
Planning & Development Director 110,000 31,497 141,497
Full Time Fire Fighter (3 of 3 – last year) 62,150 33,773 95,923
ADDITIONAL EMPLOYEES $ 303,150 $ 108,170 $ 411,320
TSO/Admin Clerk (part time to full time) 37,440 15,660 53,100
Fire Marshal (part time to full time) 93,000 40,536 133,536
CHANGE TO FULL TIME $ 130,440 $ 56,196 $ 186,636
GRAND TOTAL $ 433,590 $ 164,366 $ 597,956
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Town Council Budget Workshop
ONE-TIME ON-GOING TOTAL
Financial Stewardship 8,462,391 2,272,061 10,734,452
TOTAL REVENUES $ 8,462,391 $ 2,272,061 $ 10,734,452
Citizens, Students & Stakeholders 2,605 197,940 200,545
Municipal Operations 10,419 385,656 396,075
Academic Operations -0- -406,103 -406,103
People, Facilities & Technology 8,348,385 936,622 9,285,007
TOTAL EXPENDITURES $ 8,361,409 $ 1,926,320 $ 9,881,627
TOTAL $ 100,982 $ 345,741 $ 446,723
Section 2 Page 18
08/10/2016
Packet Page 24
The next four slides will detail these changes
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Objectives: Preserve Desirability & Quality of Life; Increase Customer Satisfaction
Service Level Adjustment Amount $200,545
Town Council Budget Workshop 08/10/2016
SLA AMOUNT DESCRIPTION
•$138K Debt Obligations (Fire Station Debt Pymt)
•$ 64K Utility Fund Water Purchases
•$ 2K Repair and Maintenance Expenditures
•$ 2K Service Expenditures
•$ 2K Supply Expenditures
•$ (8)K Academic Expenditure Savings
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Objectives: Increase Financial Capacity & Reserves; Increase Revenue Streams
Service Level Adjustment Amount $10,734,452
Town Council Budget Workshop 08/10/2016
SLA AMOUNT DESCRIPTION
$8.5M Fire Station Bond Revenue
$714K Building Related Permits & Fees (based on current schedules)
$710K Economic Development Revenue ($10 per lot)
$260K Contributions (Glenwyck Duct Bank project)
$629K Transfers In (offset by transfers out)
$125K Property Tax (effective tax rate 0.13695 – more detail later)
$ 33K Charge for Services (Utility Fund)
$ 30K Franchise Fee Tax
$ 16K Hotel Occupancy Tax
34
Objectives: Maximize Efficiencies & Effectiveness; Encourage Westlake’s Unique
Sense of Place; Increase Transparency, Accessibility & Communications
Service Level Adjustment Amount $(10,028)
Town Council Budget Workshop 08/10/2016
SLA AMOUNT DESCRIPTION
$ 337K Rent and Utilities (proposed $485K Rent + 85K Electric = $570K)
$ 203K Service Expenditures (FW Water; Records Mgmt ; IT Upgrades; Masterplan; VA Consultant)
$ 23K Supply Expenditures (Building; HVAC; Painting; Security; Mechanical)
$ 15K Repair & Maintenance Expenditures (mechanical; electrical; equipment; building;)
$ 629K Transfers Out (offset by transfers in)
$(397)K Academic Expenditure Savings
35
Objectives: Attract, Recruit, Retain, & Develop the Highest Quality Workforce, Improve
Technology, Facilities & Equipment, Optimize Planning & Development Capabilities
Service Level Adjustment Amount $9,285,007
Town Council Budget Workshop 08/10/2016
SLA AMOUNT DESCRIPTION
$8M Fire Station Complex
$965K Public Works ($720K Glenwyck Duct Bank; $100K Repaint Ground Storage Tank;
$87K Pump Station Equipment; $56K Solana Pavement Repair )
$691K Dove Road ($691K Reconstruction & Drainage Vaquero/Terra Bella)
$512K Payroll & Related ($365 Salaries; $73 Insurance; $37K Retirement; $35K Taxes)
$140K Facilities ($42K Roof Repairs; $26K Building Upgrades; $18K Flooring Upgrades ;
$32K Update Security System and Cameras)
$ 83K Information Technology ($71K Network Equipment;
$12K Network & Phone System & Peripheral Devices)
$ 55K Fire Dept ($55K Marshal Vehicle – auction off old vehicle)
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Town Council Budget Workshop 08/10/2016
Recommend SLA Reduction
o Pause the Community Tree Lighting Event
•Estimated Cost $14.5K
•Pros
•Cons
37
Leasing
Costs
Town Council Budget Workshop 08/10/2016 38
Town Council Budget Workshop 08/10/2016 39
KEEP CALM
AND
BUDGET ON
40 08/10/2016 Town Council Budget Workshop
Town Council Budget Workshop
PROPOSED FY16/17
$8.983M Revenues and Other Sources
•5% increase of $425K (line 19)
$7.498M Operating Expenditures
•15% increase of $994K (line 37)
$1.312M Capital and Other Uses
•20% increase of $217K (line 44)
$173K Net Change to Fund Balance
$8.374M Ending Fund Balance
08/10/2016
$125K Property Tax
$510 Permits & Fees
$(241)K Transfers In from UF
$457K Payroll & Related
$269K Services (LF-IT-MP-KP)
$235K Rent & Utilities
$186K Outlay (FFE-FD)
$31K Transfers Out to DS
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Town Council Budget Workshop
PROPOSED FY16/17
$3.681M Revenues and Other Sources
•1% increase of $33K
$3.858M Operating Expenditures
•12% decrease of $514K
$ (383)K Capital and Other Uses
•47% decrease of $339K
$ (560)K Planned Use of Fund Balance
$1.374M Ending Fund Balance
08/10/2016
$33K - UF Charge for Services
$(350K) - SL Water Treatment
$(225K) - FW Water Line Phase 1
$(96K) - N1 Sewer Project
$(243K) - Transfer out to GF
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Town Council Budget Workshop
PROPOSED FY16/17
$929K Revenues and Other Sources
•16% increase of $126K
$1.458M Capital and Other Uses
•203% increase of $977K
$(529)K Planned Use of Fund Balance
$333K Ending Fund Balance
08/10/2016
$260K - Contributions Duct Bank
$(14K) - Fire Station insurance pymt
$(8.7K) – PW Sales of Surplus
($110K) - Transfer in from GF
$720K - Glenwyck Duct Bank
$100K - Repaint Grnd Storage Tank
$ 87K - Pump Station Equipment
$ 56K - Solana Pavement Repair
$ 75K - WA Facilities Maint Projects
$ 40K - I.T. Equipment
$ 55K - Marshal Vehicle
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Town Council Budget Workshop
PROPOSED FY16/17
$3.118M Revenues and Other Sources
•11% decrease of $374K
$1M Operating Expenditures
•18% decrease of $220K
$2.275M Capital and Other Uses
•25% increase of $452K
$(164)K Planned Use of Fund Balance
$1.553M Ending Fund Balance (line 47)
08/10/2016
$16K - Hotel Occupancy Tax
$450K - ED Fund Contributions
$(752K) – PID Fund Fees
$(35K) - Transfers In Fidelity Pymt
$25K - VA Consultant Fee
$51K - Rent & Utilities
$(271K) - PID Fund Expenses
$2K - Transfer to GF for Comm Dept
$450K - Transfer to WA Expansion
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Town Council Budget Workshop
PROPOSED FY16/17
$2.117M Revenues and Other Sources
•5 % increase of $99K
$2.147M Operating Expenditures
•7 % increase of $138K
$ (29K) Planned Use of Fund Balance
$ -0 - Ending Fund Balance
08/10/2016
$177K – Transfers In from GF
$(78K) - Property Tax
Effective rate and PY tax receipts
Fire Station Debt Pymt
Interest Only
45
Town Council Budget Workshop 08/10/2016 46
Town Council Budget Workshop 08/10/2016 47
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
FY 2007FY 2008FY 2009FY 2010FY 2011FY 2012FY 2013FY 2014FY 2015FY 2016$2.60 $2.59 $2.27 $2.37
$2.74 $2.78
$3.47 $3.74
$4.23 $4.47
$0.91
$0.40
$0.60
$1.34
$0.44
$0.44 $0.17
$0.30
$0.89
$0.15
$0.13
$0.34
$0.75
$0.38
$0.30
$0.33
$0.48 $0.20 Millions Presumed One-
Time Payments
Audit Payments
Economic
Development Tax
Base Sales Tax
Town Council Budget Workshop 08/10/2016 48
$2.9
$3.6 $3.7 $3.8
$4.6
$3.7
$4.4 $4.7 $4.6 $4.5
FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016
Shown in millions
Town Council Budget Workshop
FY15/16 Estimated Sales Tax was decreased by $550K to $4.550M.
FY16/17 Proposed Sales Tax was held flat at $4.550M
DEC JAN FEB MAR APR MAY JUN JUL FY TOTAL
FY2015
401,102
347,582
464,315
455,877
294,031
601,717
404,987
470,188
3,439,800
FY2016
367,143
359,390
507,568
339,685
346,511
476,291
350,919
304,036
3,051,543
(33,959)
11,808
43,253
(116,191)
52,480
(125,427)
(54,068)
(166,152)
$ (388,257)
If we collect more sales tax we have two choices.
•Do nothing – overage rolls into fund balance
•Add back in transfers out to major maint funds
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Town Council Budget Workshop
is the total tax rate
calculated to raise the
same amount of property
tax revenue from
the same properties.
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Town Council Budget Workshop
will decrease by .01939
for a tax rate of $.13695
08/10/2016
The calculated effective rate
for FY2016/17
Currently $.15634
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Effective Tax Rate
Town Council Budget Workshop
FY 15/16
Adopted
FY 16/17
Proposed
Change
Amount
M&O 0.13947 0.12882 (0.01065)
I&S 0.01687 0.00813 (0.00874)
$ 0.15634 $ 0.13695 $ (0.01939)
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Town Council Budget Workshop
Fiscal Year M&O I&S Actual
Rate Total
Effective
Tax Rate
FY 10-11 0.15620 0.00390 0.16010
FY 11-12 0.13835 0.01849 0.15684 0.17944
FY 12-13 0.14197 0.01487 0.15684 0.19326
FY 13-14 0.13888 0.01796 0.15684 0.16070
FY 14-15 0.13710 0.01924 0.15634 0.15634
FY 15-16 0.13947 0.01687 0.15634 0.15677
FY 16-17 0.12882 .00813 0.13695 0.13695
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Town Council Budget Workshop
FY 10/11
Actual
FY 11/12
Actual
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Estimated
FY 15/16
Adopted
FY 16/17
Proposed
General
Fund
0.15620
0.13835
0.14197
0.13907
0.13710
0.13947
0.12882
Debt
Service
0.00390
0.01849
0.01487
0.01777
0.01924
0.01687
0.00813
TOTAL
RATE 0.16010 0.15684 0.15684 0.15684 0.15634 0.15634 0.13695
amount change (0.00326) - - (0.00050) - (0.01939)
percent change -2.04% - - -0.32% - -12.4%
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Town Council Budget Workshop 08/10/2016
FY 10/11
Actual
FY 11/12
Actual
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Estimated
FY 16/17
Proposed
$1.03 $1.09
$1.21 $1.23 $1.25 $1.27
$1.43
Total Appraised Value
(shown in billions)
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Town Council Budget Workshop 08/10/2016
FY 11/12
Actual
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Estimated
FY 16/17
Proposed
$9.37 $8.57 $8.89 $9.20 $9.43
$10.38
Net Taxable Value
(shown in millions)
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Town Council Budget Workshop
TYPE AMOUNT
Existing 329.9M
New -0-
TOTAL $ 329.9M
08/10/2016
Commercial
Taxable Value
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Town Council Budget Workshop
TYPE AMOUNT
*Existing $ 665.1M
New 54.9M
TOTAL $ 720.0M
08/10/2016
Residential
Taxable Value
* PY Same Homes $569.5M
Increase of $95.6M (17%)
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Town Council Budget Workshop 08/10/2016
How much of Assessed Value
is tax exempt because of
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Amount Exemption Type
$ 91.9M Homestead Exemption
$ 13.3M Over 65 Exemption
$ 80.1M Deloitte (65%) ends 2022
$107.5M Fidelity (90%) ends 2019
Town Council Budget Workshop
0.00
0.10
0.20
0.30
0.40
0.50 0.484000 0.462000
0.434690
0.375120
0.328437
0.285693
0.13695
2015 Ad Valorem Tax Comparison per $100
Trophy Club
Southlake
Keller
Roanoke
Grapevine
Haslet
Westlake
Source: www.tad.org/2015taxrates
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Town Council Budget Workshop
Westlake
Average
Property
Tax Bill is
Is $1595
($1.455M Home)
08/10/2016
That’s only
$4.37 a day!
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Town Council Budget Workshop
Keeping the
Current Tax Rate
at .15634
Gives us
additional
Property Taxes
to use for…
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Town Council Budget Workshop 08/10/2016
$4.5M Westlake Academy Capital Project
•$1.9M Cash from $10K lots
•$2.6M issued bonds
Use for Municipal Lease Start Up Costs
65
RECOMMEND HOLD TAX THE SAME
Town Council Budget Workshop 08/10/2016
APPROX. 7242 SQ FT ADDITION
•Large Art Classroom (Kiln/Storage)
•One Dry Science Lab,
•Two Wet Science Classrooms
•Collaboration Area
•Possibly hold us over 5 years
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Town Council Budget Workshop
PROPOSED FY16/17
$8.506M Revenues and Other Sources
•295% increase of $6.351M (line 18)
$9.603M Capital Projects
•328% increase of $7.361M (line 40)
$(1.097)M Net Change to Fund Balance
$ 961K Ending Fund Balance (line 47)
Section 9 Page 65
08/10/2016
Packet Page 71
•$8.5M Bond Revenue
•$6K Interest Income
•$8.8M Fire Station
•$44K Outdoor Learning
•$691K Dove Rd R&D
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Town Council Budget Workshop
Funded
08/10/2016
Project
name
$0
$5
$10
$15
$20
FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
$2.241
$9.603
$0.683 $1.738 $1.124 $3.110
$16.911
$17.554
7.9M Facilities
1.4M Roads
7.5M Parks
16M Facilities
1.0M Roads
253K Parks
8.9M Facilities
691K Roads
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Town Council Budget Workshop
PROPOSED FY16/17
$8.3M Revenues and Other Sources
•6% increase of $442K (line 18)
$8.4M Operating Expenditures
•5% decrease of $406K (line 33)
$1.4K Net Change to Fund Balance
$1.1M Ending Fund Balance (line 45)
Section 8 Page 63
08/10/2016
Packet Page 69
•$63K Local revenues
•$356K CTE Funding
•$(592K) Supplies/Materials
•$166K Debt Service
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Town Council Budget Workshop 08/10/2016
VARIANCES FROM COUNCIL RETREAT FOR FY 15-16 AMENDED EXPENDITURES ($757K)
$ 115K Substitute Teacher Pay (budget deleted in error from Adopted FY 15-16)
$ 482K Accounting entry for iPad lease (offset with other resources)
$ 150K Additional pay (new salary scale & additional August days)
$ 125K Computers for teachers (theirs transitioned to carts for students)
$(115)K Budget to actual numbers have been reviewed and reduced
$ 757K TOTAL CHANGES TO FY15/16 EXPENDITURES
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Town Council Budget Workshop 08/10/2016
VARIANCES FROM COUNCIL RETREAT FOR FY 16-17 PROPOSED EXPENDITURES ($17K)
$(106)K Payroll & Related (true up actual personnel expenditures)
$ 34K Contracted Services (contracted services vs Payroll Speech Pathologist)
$ (46)K Determined effort to reduce expenditures to balance budget
$ 135K Debt Service Lease (decision to receive iPads earlier and sale old iPads)
$ 17K TOTAL CHANGES TO FY15/17 EXPENDITURES
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Town Council Budget Workshop 08/10/2016 72
•Supports VVM and Strategic Plan
•Conservative Financial Stewardship
•Monitoring Growth Projections
•Oversight of High Quality Development
•Future Planning for Water Demands
•Infrastructure Investment