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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 - 08/26/13
Compared to FY12/13 Estimated Budget
RECENT UPDATES HAVE RESULTED IN AN INCREASE TO
FUND BALANCE OF $228,310
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Town Council Budget Workshop - 08/26/13
FY 13/14 BUDGET OVERVIEW
Compared to FY12/13 Estimated Budget
Expenditures
$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)
$58K - Comprehensive plan update Phase I of II
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AD VALOREM TAX RATE
Town Council Budget Workshop - 08/26/13
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.
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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
$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 TOTAL FUNDED PROJECTS
Town Council Budget Workshop - 08/26/13
Fiscal Year 2013/2014
FUNDED CIP S UMMARY
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PROJECTED ENDING FUND BALANCES All Funds
Shown in millions
Town Council Budget Workshop - 08/26/13
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
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NEXT STEPS
Town Council Budget Workshop - 08/26/13
Monday 09/16/13
Regular meeting
Public Hearing
and Adoption
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