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Home My WebLink AboutMunicipal Budget Presentation 09-23-19Aligning the Values of Westlake Fiscal Responsibility Educational Leaders Sense of Community Planned & Responsible Development Preservation of our Natural Beauty Informed Engaged Citizens Strong Aesthetic Standards Innovative Transparent Integrity Driven Government Family Friendly & Welcoming DISTINCTIVE BY DESIGN Current Year No Sales Tax Rebates related to Economic Development Agreements Reduction in Franchise Fees due to legislative changes Schwab: o Sales Tax related to Phase II (situs) o Sales Tax related to Phase I operating o Schwab Phase I property tax abatements Now at 70%(Abatement began in tax year 2016 for the land) Reduces by 10% through FY 25-26 2 Future Years Sales and Use Tax o Increase 2% in future years o Schwab operations for Phases I & II added in 2020 and 2022 o Front 44 added in 2022 thru 2024 Property Tax –estimated value two years from date of permit for new construction o Phase I property tax abatement related to construction will begin in FY 19-20 o Schwab Phase I Property tax for the building and contents will begin at 100% in FY20-21(Reduced by 10% annually through FY 28-29) o Deloitte property tax abatement ends FY 20-21 Revenues increase 1% annually Court Fines and Forfeitures increase 1/2% annually Beverage Tax & Hotel/Motel Tax increase in future years for Entrada Hotel & Front 44 3 Current Year •3.50 Increase in FTE •3.0% increase in Payroll (overall) •7.5% increase in Medical Insurance •3.0% increase in SS/Medicare and TMRS •1.0% increase in all Expenditures Future Years •2.5% increase in Payroll •7.5% increase in Medical Insurance •2.5% increase in SS/Medicare and TMRS •1.0% increase in all Expenditures 4 5 An increase of $0.00481 The FY 2019-20 Proposed Tax Rate is 08/15/201 8 Town of Westlake Municipal Budget Workshop Current Tax Rate is $0.15600 $0.16018 SLIDE 9 6 FY 18/19 Adopted FY 19/20 Proposed Change Amount Operations (M&O rate)$ 0.13201 $ 0.11453 $(0.01748) Debt (I&S rate)0.02399 0.04565 0.02166 $ 0.15600 $ 0.16018 $ 0.00418 7 Approximate $54 increase for average home 08/15/201 8 Town of Westlake Municipal Budget Workshop SLIDE 12 8 08/15/201 8 Town of Westlake Municipal Budget Workshop SLIDE 11 Property Tax Rate per $100 Assessed Valuation 9 $ 2,301,137 Current Year Levy 1,870,604 Prior Year Tax Levy 430,533 Additional Funds (253,333)New Improvements $ 177,000 Net Gain 10 0.44644 0.41000 0.39990 0.37512 0.30681 0.28427 0.23243 0.16018 44 Trophy Club 22 Southlake 13 Keller 43 Roanoke 34 Colleyville 34 Grapevine 11 Highland Park 37 Westlake 11 12 $34.2M Revenues and Other Sources $34.8M Expenditures and Other Uses $(646)K Net Decrease to Fund Balance $25.6M Beginning Fund Balance $25.0M Ending Fund Balance 9/11/2017 Slide 02 13 MAJOR SOURCES REVENUES & OTHER SOURCES $7.2M Sales Tax $5.6M UF Revenues $2.6M Building Permits $3.7M Transfers In $9.7M Academic EXPENDITURES & OTHER USES $5.0M Payroll $13.3M Operations $3.5M M&R and Capital $3.7M Transfer Out $9.7M Academic Net Decrease to Fund Balance of $646K. Due primarily to Capital Projects ACCOUNT DESCRIPTION 08/07/19 WORKSHOP 09/23 /19 TODAY Estimated Budget Change Amount General Sales Tax $ 6,200,000 $ 7,800,000 $ 1,600,000 UF Permits &Fees 380,841 229,241 (151,600) Contributions 409,734 1,409,734 1,000,000 Other Sources -2,100,000 2,100,000 TOTAL REVENUES 6,990,575 11,538,975 4,548,400 Payroll Transfer Out 1,159,277 1,158,443 (834) Capital Project Funds 3,275,728 5,007,060 1,731,332 TOTAL EXPENDITURES 4,435,005 6,165,503 1,730,492 Net Change $ 2,555,570 $ 5,373,472 $ 2,817,908 9/11/2017 Slide 02 14 Changes to Fund Balance From Council Workshop on 08/07/19 is $2,817,908 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 19-20 proposed budget would show A N I NCREASE OF 2% = $410,452 compared to the FY 18-19 estimated budget 09/11/201 7 Town of Westlake Municipal Budget Presentation Slide 05 Expenditure Types Estimated FY 18/19 Proposed FY 19/20 Change Amount Change Percent Payroll & Related $ 4,520,250 $ 5,034,571 $ 514,321 11% Operating Expenditures 13,409,708 13,305,839 (103,869)-1% TOTAL $ 17,929,958 $ 18,340,410 $ 410,452 2% 15 Dept Position Type FY 18/19 Estimated Positions FY 19-20 Proposed Positions Increase Total Payroll Impact Payroll Transfers In from Other Funds General Fund Payroll Impact General Fund Payroll Transfer out to WA 14 Firefighter/Paramedics Change to FT 1.50 3.00 1.50 $122,132 -$122,132 - 14 Fire Admin Assistant New Position -1.00 1.00 $79,728 -$79,728 - 18 WA Accounting Tech I New Position -.50 .50 $16,218 -$16,218 - FORECASTED POSITIONS 1.50 4.50 3.00 $218,078 -$218,078 - 16 Utility Technician #2 New Position -1.00 1.00 $69,577 $(52,183)$17,394 - 10 WAF Assistant Reallocated -.50 .50 ---$17,191 10 WAF Executive Director Reallocated -.50 .50 ---59,365 15 Marshal Increase Hours .50 .75 .25 $20,025 -$20,025 - POSITIONS NOT FORECASTED .50 2.75 2.25 $89,602 $(52,183)$37,419 $76,556 2.00 7.25 5.25 $307,680 $(52,183)$255,497 $76,556 GF Impact $332,053 16 09/11/201 7 Town of Westlake Municipal Budget Presentation Slide 08 FUNDS Beginning Fund Balance Revenues & Other Sources Expenditures & Other Uses Net Change to Fund Balance Ending Fund Balance Percent of Total Percent Change General Fund $12,115,296 $ 11,204,267 $ 11,188,173 $ 16,094 $ 12,131,390 48%0% Enterprise Funds 2,115,385 5,671,403 4,898,554 772,849 2,888,234 12%37% Internal Service Funds 2,520,867 528,839 932,438 (403,599)2,117,268 8%-16% Special Revenue Funds 999,265 2,965,937 3,085,448 (119,511)879,754 4%-12% Debt Service Funds 42,980 2,654,710 2,697,690 (42,980)(0)0%-100% Capital Projects Funds 6,623,503 1,370,886 2,385,749 (1,014,863)5,608,640 22%-15% Municipal Total 24,417,297 24,396,042 25,188,052 (792,010)23,625,287 94%-3% Academic Funds 1,253,786 9,807,933 9,662,502 145,431 1,399,217 6%12% TOTAL ALL FUNDS $ 25,671,083 $ 34,203,975 $ 34,850,554 $ (646,579)$ 25,024,504 100%-3% 17 ADOPTED ESTIMATED PROPOSED Projected Projected Projected Projected FY 18-19 FY 18-19 FY 19-20 FY 20-21 FY 21-22 FY 22-23 FY 23-24 Total Revenues and Other Sources $12,313,609 $14,758,012 $11,204,267 $11,397,382 $11,623,206 $11,800,916 $12,049,542 Total Expenditures and Other Uses (12,064,992)(12,404,565)(11,188,173)(11,171,518)(11,314,388)(11,504,060)(11,757,965) NET CHANGE TO FUND BALANCE 248,617 2,353,447 16,094 225,864 308,818 296,856 291,577 Beginning Fund Balance 9,216,610 9,761,849 12,115,296 12,131,390 12,357,254 12,666,072 12,962,928 Ending Fund Balance 9,465,227 12,115,296 12,131,390 12,357,254 12,666,072 12,962,928 13,254,505 Restricted/Committed/Assigned 304,504 290,880 298,560 298,560 298,560 298,560 298,560 Unassigned Ending Balance $ 9,160,724 $11,824,416 $11,832,830 $12,058,694 $12,367,512 $12,664,368 $12,955,945 Operating Expenditures $ 9,578,926 $ 9,237,500 $ 9,833,443 $10,072,973 $10,315,843 $10,551,955 $10,805,860 Operating Cost per Day $ 26,146 $ 25,308 $ 26,941 $ 27,597 $ 28,263 $ 28,909 $ 29,605 OPERATING DAYS 350 467 439 437 438 438 438 18 19 Estimated Budget 394 days at Retreat Proposed Budget 355 days at Retreat 269 days at Retreat 218 days at Retreat 174 days at Retreat 115 days at Retreat 20 Project Description Totals Thru FY 17/18 FY 18-19 Estimated Budget FY 19-20 Proposed Budget FY 20-21 Projected Budget FY 21-22 Projected Budget PROJECT GRAND TOTAL FM1938 Town Improvements $ 3,310,317 $ 112,300 $ -$ -$ -$ 3,422,617 Roanoke Road Recon/Drainage South 2,900 3,625 540,000 --546,525 Sam School Road Reconstruction & Drainage -3,215 --55,000 58,215 FM 1938 & Dove Road Traffic Signal 304,759 159,360 ---464,119 FM 1938 and Solana Traffic Signal 305,479 8,375 ---313,854 Flashing Crosswalk -Dove @ Pearson/Ottinger 31,044 -53,850 51,840 -136,734 Solana Pavement Repairs --90,000 --90,000 Wyck Hill Pavement Resurface --58,806 --58,806 FM1938 Pavement Repairs --80,000 --80,000 SH114 Service Road Construction -48,000 96,000 --144,000 GPS Opticom Traffic Control ---70,000 -70,000 Total –Road/Street Improvement $3,954,499 $ 334,875 $ 918,656 $121,840 $55,000 $ 5,384,870 21 Project Description Totals Thru FY 17/18 FY 18-19 Estimated Budget FY 19-20 Proposed Budget FY 20-21 Projected Budget FY 21-22 Projected Budget PROJECT GRAND TOTAL Maintenance & Storage Facility $ -$ 5,000 $ 95,000 $ -$ -100,000 WA Pond Repairs -82,000 ---82,000 Total Facility /Ground Projects -87,000 95,000 --182,000 Trail Connection at Hwy 114 & Solana Blvd.--193,860 --193,860 Wayfinding Signage --300,000 290,000 -590,000 Cemetery Improvements 93,082 56,918 ---150,000 Total Trail/Park/Cemetery Projects 93,082 56,918 493,860 290,000 -933,860 Trail -Academy to Cemetery ---319,006 -1,382,806 Ottinger Road Recon/Drainage ---1,063,800 - Trail -Dove/Pearson/Aspen --313,217 --625,538 Pearson Lane Recon/Drainage -22,305 290,016 -- Total Trail and Road Improvement Projects -22,305 603,233 1,382,806 -2,008,344 Fiber Connectivity Project -25,000 275,000 --300,000 Total Information Technology Projects -25,000 275,000 --300,000 TOTAL CAPITAL PROJECTS $ 4,407,581 $ 526,098 $ 2,385,749 $ 1,794,646 $ 55,000 $ 8,809,074 Comp Plan Update (targeted) Growth and Development Building Quality Manual Implementation Westlake Academy Enrollment Town Commons Concept Financial Forecasts and Fund Balance Monitoring Charter Research for Municipality as we Approach 5K Legislative Session Impacts Tax Rate Cap Impact 22