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HomeMy WebLinkAboutRes 08-51 Adopting the Revised Budget for the Fiscal Year 2008 and the Budget for the Fiscal Year 2009TOWN OF WESTLAKE RESOLUTION NO. 08-51 A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS, ADOPTING THE REVISED BUDGET FOR THE TOWN OF WESTLAKE FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2008, AND ADOPTING THE PROPOSED BUDGET FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2009. WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein; and. WHEREAS, as required by Texas Local Government Code 102.002, the budget officer has prepared a municipal budget to cover the proposed expenditures of the municipal government for the succeeding year. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS: SECTION l: That the Board of Aldermen hereby adopts the revised budget for the fiscal year ending September 30, 2008 and the proposed Annual Operating Budget for the fiscal year ending September 30, 2009 and appropriates the funds contained therein. SECTION 2: That a copy of the official adopted 2008-2009 budget documents shall be kept on file in the office of the Town Secretary. SECTION 3: That this Resolution shall become effective upon the date of its passage. PASSED AND APPROVED ON THIS 22 DAY OF SEPTEMBER 2008. ATTEST: I king Sutter, TRMC, Town Secretary APPROV AS , ORM: tanto L r , T n Attorney Laura Wheat, Mayor Tom er, wn a ger Town of Westfake A One-of-a-Xind Community Annuaf Operating budget TiscaC Tear 2008/2009 Mown of Westfake 'Vf J `1 Annuaf Operating Budget Tiscaf Tear 2008/2009 OVEF NMENT FINANCE OFFICERS ASSOCIATION Distinguished Budget Presentation Azoard PRESS .l TED TO Town olf Westlake '11'exas For the Fiscad Ycar Bcginning October 1, 2007 T. , pft� E A. -a D The Government Finance Officers Association of the United States and Canada (GFOA) has presented a Distinguished Budget Presentation Award to the Town of Westlake for its annual budget for the fiscal year beginning October 1, 2007. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communication device. This award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. Laura Wheat Mayor Tim Brittan Council Member Carol Langdon Council Member Don Redding Mayor Pro -Tem Tom Brymer Town Manager Stan Lowry Town Attorney Ginger Awtry Assistant to the Town Manager Debbie Piper, CPA Finance Director Jarrod Greenwood Public Works Superintendent Troy Meyer Facilities Director Parks/Recreation Director Larry Corson Council Member Rebecca Rollins Council Member Kim Sutter, TRMC Town Secretary Todd Wood, SPHR, IPMA-CP Director of Human Resources and Administrative Services Amanda DeGan Municipal Court Administrator Don Wilson Director of Public Safety Eddie Edwards Director of Planning and Development THE TOWN OF W EST LAK]E " 3 VILLAGE CIRCLE #202 -* W EST LAKE, TEXAS * Westlake Historical Preservation Society Michelle Corson, Stephen Thornton, Jack Wiesmon, Teresa Walton, Sharon Sanden, Lisa Councilman, Kristi Layton, Ruby Held, Joyce Roach Vickey Smith, Sandy Holzgraefe * Westlake Academy Foundation Colleen Hess, Deborah Ziegler, Leah Rennhack, Kelly Cox, Chris Noonan, Bill Greenwood, David Lee, George Ledak, Leigh Sander, Shezad Malik, John Awtry, Jeff Ryan, Karen Osborne, Julie Timmerman, * Planning & Zoning Commission William Greenwood, Rick Rennhack, Walter Copeland Allen Heath, Sharon Sanden * Texas Student Housing Authority Jim Carter, Jac Irvine, George Ledak, Jill McKean, Chuck Schultz, Melanie Lekkos, Scott Bradley, Hank Smyth, Pete Ehrenberg, Kim Sutter * Public Arts Committee Michelle Corson, Leah Rennhack, Shannon LaRue, Dave Rollins Kay Anderson, Mary Petty * 4B Economic Development Board Laura Wheat, Don Redding, Tim Britton, Carol Langdon, David Brown * Tree City USA Advisory Committee Julie Timmerman THE TONIN OF WESTLAKE '* 3 VILLAGE CIRCLE #202 :; `YVESTILAKE, TEXAS 1. EXECUTIVE Budget Transmittal Letter----------------------------------------------------------------------01 Town of Westlake Organization Chart --------------------------------------------------07 Budget Overview08 -------------------------------------------------------------- ---------------- Budget Framework Introduction 25 Compliance with GASB Statement No. 34-------------------------------------26 Basis of Accounting/Budgeting-------------------------------------------------------26 The Budget Process------------------------------------------------------------------------30 Budget Amendment Process ----------------------------------------------------------- 31 FY 2007- 2008 Budget Calendar, ----------------------------------------------------33 AllFund Summary---------------------------------------------------------------------------33 GeneralFund Summary------------------------------------------------------------------38 Utility Fund Summary-------------------------------------------------------------------- 43 Visitors Association Fund Summary---------------------------------------------- 47 4B Economic Development Fund Summary ................................. 47 Property Tax Reduction Fund Summary---------------------------------------- 49 CemeteryFund--------------------------------------------------------------------------------50 FM1938 Fund 50 Debt Service Fund Summary ----------------------------------------------------------50 Capital Projects Fund Summary -----------------------------------------------------51 Arts and Sciences Center 52 Vehicle & Equipment Replacement Fund --------------------------------------52 General Major Maintenance Fund Summary ----------------------------------52 Utility Major Maintenance Fund Summary --------------------------------------53 2. GENERAL FUND ProgramSummary,------------------------------------------------------------------------------54 Revenues Graph by Function .-------------------------------------------------------------55 Expenditures Graph by Department, ---------------------------------------------------56 Expenditures Graph by Function ---------------------------------------------------------57 SalesTax Graph---------------------------------------------------------------------------------58 Inter -fund Repayment Schedule - Due from Utility Fund --------------------59 Fidelity Tax Reimbursement Schedule -----------------------------------------------60 Dept 11 - Administrative----------------------------------------------------------------------61 Dept 12 - Planning and Zoning .-----------------------------------------------------------66 Dept 13 - Town Secretary ................. ------------------------------------------------ 70 Dept 14 - Emergency Services .-----------------------------------------------------------75 Dept 15 - Municipal Court--------------------------------------------------------------------81 Dept 16 - Public Works------------------------------------------------------------------------86 Dept 17 - Facilities Maintenance ---------------------------------------------------------92 THE TOWN OF WESTLAKE " 3 VILLAGE CIRCLE #202 3, WEST]LAKE, TEXAS 76262 1 Dept18 - Finance--------------------------------------------------------------------------------97 Dept 19 - Parks and Recreation__________________________________________________________ 103 Dept 20 - Information Technology ___ _______ .............................. 108 Dept 21 - HR/Admin Services-------------------------------------------------------------111 3. SPECIAL REVENUE FUNDS Visitors Association Fund Program Summary ........................................................................... 115 Revenues Graph .-----------------------------------------------------------------------------116 Expenditures Graph-------------------------------------------------------------------------117 Hotel Occupancy Tax Trend ............................................................ 118 Dept 11 - Administrative-----------------------------------------------------------------119 Dept 17 - Facilities Maintenance ----------------------------------------------------- 120 Dept18 - Finance----------------------------------------------------------------------------121 Dept 19 - Parks & Recreation _________________________________________________________122 Dept 21 - HR/Admin Services ......................................................... 123 413 Economic Development Fund Program Summary .--------------------------------------------------------------------------124 Inter -fund Repayment Schedule — Due from Utility Fund --------------- 125 Cemetery Fund Program Summary ........................................................................... 126 FM 1938 Fund Program Summary .-------------------------------------------------------------------------- 127 Property Tax Reduction Sales Tax Fund Program Summary ........................................................................... 128 4. DEBT SERVICE FUND Debt Service Fund Program Summary ........................................................................... 129 Long Term Debt Summary ---------------------------------------------------------130 2008 Series — General Obligation Bonds ........................................ 131 2007 Series — General Obligation Refunding Bonds ...................... 132 2003 Series — Certificates of Obligation_________________________________ ________133 2002 Series — Certificates of Obligation .......................................... 134 THE TOWN OF WESTLAK E " 3 VILLAGE CIRCLE #202 3" W EST LAKE, TEXAS 76262 11 5. INTERNAL SERVICE FUNDS 4W Vehicle and Equipment Replacement Fund 6 Program Summary ........................................................................ 135 A, General Major Maintenance Fund ProgramSummary ................................................................ 136 Proposed Maintenance Summary ------------------------------------------------137 Remodel Court Room and Office Space ------------------------------138 Academy Pod B HVAC Repairs ---------------------------------------------------139 Academy 15 Ton Split System HVAC ------------------------------------------140 Academy Remodel of Dining Hall ----- ------------------------------------------141 Academy Remodel of Office Space ---------------------------------------------142 Utility Major Maintenance Fund Program Summary-----------------------------------------------------------143 6. ENTERPRISE FUND Utility Fund Program Summary,-----------------------------------------------------------------------144 Dept00 - Utility ................. -------------------------------------------------------------145 Dept 11 - Administrative ................................................................. 146 Dept 16 — Public Works-----------------------------------------------------------------147 Dept18 - Finance--------------------------------------------------------------------------148 Dept 21 - HR/Admin Services -------------------------------------------------------149 TRA Assumption of N1 Sewer Line . ---------------------------------------------150 Water Meter Automation 151 ---------------------------------------------------------------- Projected Revenues Graph -----------------------------------------------------------152 Projected Expenses Graph ...................... ------------------------------------153 Inter -fund Repayment Schedule — Due to General Fund -------------154 Inter -fund Repayment Schedule — Due to 4B Fund ----------------------155 Debt Payable Schedule — Keller Overhead Storage --------------------156 Revenue Trend 157 Total Water Accounts Graph ---------------------------------------------------------158 7. CAPITAL PROJECTS FUNDS Capital Projects Fund Capital Projects Fund Summary --------------------------------------------------159 Stagecoach Hills Reconstruction -------------------------------------------------160 Deloitte Trail Project on Dove Road ---------------------------------------------161 Glenwyck Trail Extension to Terra Bella --------------------------------------162 T',HE TOWN OF WESTLAKE 1, 3 VILLAGE CIRCLE #202 WESTLAIKE, TEXAS 76252 111 Arts and Sciences Center Fund low ProgramSummary .-----------------------------------------------------------------------163 Arts & Sciences Center -Phase 1 164 8. CAPITAL IMPROVEMENTS Proposed Funded Capital Improvement Projects ---------------------,166 Proposed Funded Capital Improvements — 5 Yr Projection ------.167 Unfunded Capital Improvement Projects -----------------------------------168 Unfunded Capital Improvements Projects — 5 Yr Projection -----169 9. LONG TERM PLAN Long Term Strategic Approach --------------------------------------------------170 Five Year Projection - Assumptions ------------------------------------------175 All Fund Summary — 5 Year Projection --------------------------------------176 10. COMMUNITY PROFILE History--------------------------------------------------------------------------------------------178 Community Events,------------------------------------------------------------------------179 Facts, Figures, Statistics---------------------------------------------------------------181 ifiw_\»=1kiIQK14 Glossaryof Terms-------------------------------------------------------------------------183 Fiscal and Budgetary Policies -------------------------------------------------------190 InvestmentPolicy .-------------------------------------------------------------------------- 202 Employee Summary Chart ------------------------------------------------------------209 Detail Service Level Adjustments — All Funds - Approved -----------210 Detail Service Level Adjustments — Approved Fund 100 — General Fund 211 Fund 500 — Utility Fund-------------------------------------------------------------214 Fund 220 — Visitors Association Fund 215 Fund 255 — Cemetery Fund ---- -------------------------------------------------216 Fund 257 — Vehicle & Equipment Replacement Fund -------------217 Fund 600 — General Major Maintenance Fund ......................... 218 Resolution No 08-51 Approval of FY 2008-2009 Budget -------------219 THE TOWN OF WESTLAKE " 3 VILLAGE CIRCLE #202 3, WEST]LAKE, TEXAS 76262 iv October 1, 2008 The Town of Westlake Honorable Mayor and Members of the Town Council: Budget transmittal letter On behalf of the Town's staff Leadership Team, I am pleased to present the Town of Westlake's adopted FY 2008-2009 budget totaling $15,541,899 (includes $4,038,971 approved transfers in from fund balance for debt and capital projects) for the major operating funds, debt service, major maintenance, and capital improvement funds. STRATEGIC APPROACH This adopted FY 2008-2009 budget was prepared with: ➢ the first priority being to provide Town residents and businesses with basic, but high quality, Town services, as well as essential on-going support for Westlake Academy, without the assessment of a local ad valorem property tax ➢ a long-term vision set by the Town Council at their strategic planning retreat held in June of this year. This budget focuses on the next twelve months of the Town's future. However, the Council's initiative to pursue a strategic planning approach to the Town's governance will be critical to giving the Council, and the community, a multi-year focus that couples strategic priority setting with good financial stewardship decisions that achieve the long-term vision set by the Council for Westlake. See the "Long -Term Plan" section for details related to this strategy. The Council has articulated an exciting vision for Westlake: Westlake Vision Westlake is a one -of -a -kind community — an oasis with rolling hills, grazing longhorns, and soaring red-tailed hawks, located in the heart of the Fort Worth -Dallas metropolitan area. Inviting neighborhoods and architecturally vibrant corporate campuses find harmony among our meandering roads and trails, lined with native oaks and stone walls. We are leaders. In education we are known for our innovative partnerships between the Town -Owned Charter School and its corporate neighbors. We are environmental stewards — exemplifying the highest standards. Hospitality finds its home in Westlake. As a community, we are fully involved and invested in our rich heritage, vibrant present and exciting, sustainable future. Further, the Council has established Westlake's core mission and values: Westlake Mission On behalf of the citizens, the mission of the Town of Westlake is to be a one of--a-kind community that blends our rural atmosphere with our rich culture and urban location Community Values Innovation Strong knowledg%ducation base Friendly and Welcoming Family Focus Engaged Citizens Aesthetic appeal with high development standards Unique rural setting emphasizing preservation of our natural beauty With the establishment of Westlake's vision, mission and values, the Council set key result areas (KRA's) to concentrate on in the Town's Strategic Plan that guides preparation of this budget: Comprehensive Planning Neighborhood Integrity Community Appearance Quality Development Aesthetic Standards rre1111er raucauUn Facilities & Programs Well Educated Future Leaders & Thinkers Business Partnerships with Town & Westlake Academy Environmental Stewardship High Quality Services Coupled with Financial Stewardship Open Space Preservation Infrastructure Maintenance and Planning 2 Citizen Engagement Citizen Communication Historic Preservation Tourism Development Arts and Culture BUDGET PREPARATION PARAMETERS AND "SCRUBBING" As this adopted FY 2008-2009 budget was prepared, the following parameters and approaches were utilized in order to easily track cost increases as they relate to maintaining or increasing service levels: • Continued to pursue increased allocation of funds on hand towards major building and infrastructure maintenance as well as creating a fund for vehicle and equipment replacement • Maintained present fund balances to exceed policy requirements • Conservative revenue estimating that identified one-time and on-going revenue increases so that one-time revenue increases would be used for major, but not on-going, expenditures that pursue our strategic priorities, while ensuring that the Town's financial status remains solid • Water and sewer revenues are projected using the new proposed water/sewer rates and structure • Expenditures for current levels of service (adjusted for actual spending as well as deducting one- time expenses) in FY 08-09 were identified and these became the base budget • Increases in the current level of service anticipated due to inflation and other cost increases were identified and kept separate from the current level of service base budget in the form of "current service level adjustments" (SLA's) • Resources to place personnel salaries and wages in the Town's municipal operations closer to the market in which we compete to attract and retain talent were identified. This includes anticipated cost increases of 6.1% in employee health insurance and average market pay adjustments of 7% of total salary cost. This percentage will vary by position depending on distance from market point. Additionally, there is a small amount of dollars budgeted for performance pay. It should be noted that this approach is consistent with the approach used for Academy personnel that are closer to market than municipal operations personnel. • "Expanded or new levels of service" were also identified and kept separate • All costs for base budgets, service level adjustments due to cost increases/inflation, and expanded/new service level adjustments were "scrubbed" and extensively analyzed and discussed in budget review sessions with the Town Manager and Director of Finance to ensure maximum efficiency, effectiveness, and utilization of both additional and requested financial resources. We did this while having our focus being on the sustainability of the request as well as the fact that our economy nationally is going through turbulence and uncertainty. MAJOR MILESTONES IN FY 07-08 Before reviewing the adopted budget for the upcoming fiscal year, it is important to note and acknowledge the major areas of progress and activity achieved in Westlake during the course of FY 07- 08. Westlake continues to be one of the leading communities in the entire metroplex for new business locations and residential attraction. These highlights include: 3 • Solana Marriott Hotel completion - this long awaited expansion was completed in late 2007 which resulted in this hotel having 295 total guest rooms. • Fidelity Regional Headquarters Phase II - currently under construction and scheduled to be completed in the third quarter of calendar year 2009; this expansion will double Fidelity's current 600,000 sq. ft. campus and add up to approximately 2,500 employees to their Westlake location. • Retail Development (Westlake Corners) - Westlake's first stand-alone retail development began at the intersection of SH 170 and US 377 with zoning and site planning. Construction is planned to begin later this year. • Maintained Strong Cash Reserves - fund balances in all major Town operating funds exceeded policy minimums. • Residential Building Activity Level - 12 new single-family building permits have been issued thus far this fiscal year which average over 10,000 sq. ft in size with an average permitted value of $1,672,450 (not including lot value). • Development of Terra Bella - this 54.7 acre high-end single family subdivision will open for building permit issuance soon. It features 28 lots along with 22.6 acres of open space containing approximately one mile of public trails that will connect to public trails in the adjacent Glenwyck Farms neighborhood. • GFOA Distinguished Budget Presentation Award - Westlake was recognized for the first time by the Government Finance Officers Association for the professionalism, format, and financial reporting in our 2007-2008 Budget document. • Westlake Academy Arts & Sciences Center - General obligation bonds totaling $2.5 million were issued by the Town in April of this year to fund a portion of the cost of this estimated approximate $5.2 million Phase I addition to the Academy physical plant. This addition will add much needed expanded science laboratory/class room space for Academy students. • FM 1938 (Precinct Line Rd) Improvements - This is an estimated $16 million project funded primarily by TxDOT, along with Tarrant County monies. Design is largely complete with construction scheduled to begin in 2009 to improve this roadway in its first phase to 4/6 lane divided by a landscaped median from SH 114 south to Randol Mill Road. • FM 1938 (Precinct Line Rd) Streetscaping - Schematic design is underway for future streetscape improvements to what will be Westlake's major north/south corridor. • Automated Residential Solid Waste Collection - this system was converted to a fully automated cart system to improve collection efficiencies which should help contain future costs • Deloitte Announcement - formal designation of Westlake as the site for this learning and leadership center has been made by the company. Zoning, economic development agreements, concept plans, and an off-site development agreement also have been recently approved to move this estimated $300 million project forward to construction some time in 2009. 4 STRATEGIC PRIORITIES IN FISCAL YEAR 2008-2009 In FY 08-09 the adopted budget begins to utilize the Council's strategic planning framework to shape funding levels and priorities. The chart below illustrates, via the three focus areas of our Town's vision statement, which key result areas within those vision focus points the proposed departmental and fund budgets address. This chart gives a good visual representation of how the Town's financial resources are allocated in terms of vision points and their key result areas (i.e. — outcomes) that we will focus on in FY 08-09. VISION FOCUS Neighborhoods Leadership Hospitality E o U L bA .v z .� C E va o Q a ❑ @ d u -6 -o v a o u .> aci °' Q v o a N E -� Y E -- m~ ` LL o LL a a t+ d@ m 3 a C "6 3 w v Q L 3 v1 .= m" x 3 C C 7S @ - - c E v m .Y w ] w E .y o v U o u > o �, v x a❑ v E Q a v '6 ¢` Administration x x x x x x Plan & Zoning x x x x x Town Secretary x x x Fire/EMS x x x Municipal Court x x x Public Works x x x x x Fac/ Maintenance x x x Finance x x x X Parks/ Recreation x x x x x x x Information Tech. X HR/Admin Srv. x x x Utility Fund x x x x Visitors Fund x x x x x x x x x 4B Fund X PTR Fund x x General MM Fund Utility MM Fund Cemetery Fund x x x V&E Fund x FM1938 Fund x x x x x A & S Fund x x Capital Imp. X x x x Debt Service x More detailed expenditure explanations by department and operating fund are set out in the Budget Overview and Budget Framework that follows this transmittal letter as well as in further detail in each departmental budget by fund in the budget document. 5 SUMMARY This adopted budget is built on a conservative fiscal philosophy which rests on a strong financial stewardship foundation. It maintains existing levels of service and, in concert with the Council's strategic priorities, advances others, all without the use of a local property tax and in a time of economic down -turn nationally. More than that, the FY 08-09 adopted budget gives us an exciting opportunity. This opportunity moves Westlake forward toward its vision of being a one -of -a -kind, premier, knowledge-based community. The Town of Westlake exists as a municipal corporation for one reason alone: to prioritize and deliver the best services possible with the resources provided by our business and residential citizens to achieve an exceptional quality of life. Working as a Council - Staff -Community team, Westlake can continue to achieve positive momentum, movement, and progress towards our vision. Finally, the staff Leadership Team is deserving of much recognition for their concerted efforts in putting this FY 08-09 budget together for Council consideration. In particular, I want to thank Director of Finance, Debbie Piper, and Finance Assistant, Jaymi Ford, for their assistance in assembling this document and the long hours they have invested in this process. Sincerely yours, Thomas E. Brymer Town Manager 6 Town ttorney Citizens of Westlake Mayor and Town Council Texas Student Housing Town Manager cutiveead of nager chool Planning & FinanceDev lopment & Manager Build ng Inspector F cilities Ma ntenance Municipal Court Town Secretary stant to the rn Manager administrative Services and man Resources Parks and Recreation vj�� Marshal Deputy Finance r Clerks In Assistant Public Works hnician Finance apartment Fire Chief Fire and EMS Staff :ords & nue Clerk This page is intentionally blank FY 08/09 Budget Overview Introduction The Town of Westlake's 2008 fiscal year begins on October 1, 2008 and ends September 30, 2009. It provides the framework to implement the Town's vision, mission and value statements as set out by the Town Council. The Town's annual budget is prepared in the context of a five (5) year financial forecast. The proposed budget is submitted to the Council approximately thirty to forty five days before the beginning of the fiscal year for their consideration. The Town's budget is set out by fund. It is designed to provide a clear picture of proposed Town spending, allocation of financial resources, and priorities as well as how they are set to carry out the policy direction of the Council. In addition to a fund format, this proposed budget is the beginning of efforts to show the allocation of the Town's resources in concert with the Town's strategic planning efforts. A "bottom-up" approach is used to solicit input from the staff Leadership Team as to their operations' needs with an approach that: ■ identifies costs to provide the current level of services ■ identifies additional cost increases needed to maintain the current level of service ■ additional resources necessary to provide new or increased levels of service. Expenditure Overview The following is an expenditure comparison by fund group showing: ■ estimated fund expenditures for the current year FY 07/08 ■ base budget for FY 08/09 without cost/inflation increases ■ the additional funds (amount of base cost increases) necessary for FY08/09 to maintain the same level of service as in FY 07/08 ■ the proposed base budget for FY 08/09 with those cost/inflation increases ■ costs for new or expanded service costs for FY 08/09 ■ the Proposed Budget for FY 08/09 with cost increases and certain recommended new or expanded level of service costs or new major maintenance or capital improvement projects. 3 Fund Balance 3,076,299 2,765,019 0 2,765,019 0 2,765,019 (311,280) Revenues 4,371,794 4,432,765 0 4,432,765 564,372 4,997,137 625,343 Expenditures 4,683,075 4,555,457 128,094 4,683,551 263,281 4,946,832 263,758 General Fund 2,765,019 2,642,327 128,094 2,514,233 (301,091) 2,815,324 50,305 Fund Balance 1,183,022 1,309,177 0 1,309,177 0 1,309,177 126,155 Revenues 487,525 499,000 0 499,000 30,000 529,000 41,475 Expenditures 361,370 961,420 (12,783) 948,637 165,890 1,114,527 753,157 Visitors Fund 1,309,177 846,757 (12,783) 859,540 135,890 723,650 (585,527) Fund Balance 385,938 327,039 0 327,039 0 327,039 (58,899) Revenues 839,275 832,176 0 832,176 0 832,176 (7,099) Expenditures 898,174 861,907 0 861,907 0 861,907 (36,267) 4B Fund 327,039 297,308 0 297,308 0 297,308 (29,731) Fund Balance 154,474 578,064 0 578,064 0 578,064 423,590 Revenues 841,730 839,676 0 839,676 0 839,676 (2,054) Expenditures 418,140 325,000 0 325,000 0 325,000 (93,140) PTR Fund 578,064 1,092,740 0 1,092,740 0 1,092,740 514,676 Fund Balance 0 58,606 0 58,606 0 58,606 58,606 Revenues 81,763 21,550 0 21,550 0 21,550 (60,213) Expenditures 23,157 20,714 13,333 34,047 12,796 46,843 23,686 Cemetery Fund 58,606 59,442 13,333 46,109 12,796 33,313 (25,293) Fund Balance 251,826 249,326 0 249,326 0 249,326 (2,500) Revenues 235,145 0 0 0 0 0 (235,145) Expenditures 237,645 0 0 0 0 0 (237,645) FM 1938 Fund 249,326 249,326 0 249,326 0 249,326 0 Fund Balance 0 0 0 0 0 0 0 Revenues 1,316,314 1,501,957 0 1,501,957 0 1,501,957 185,643 Expenditures 1,316,314 1,501,957 0 1,501,957 0 1,501,957 185,643 Debt Fund 0 0 0 0 0 0 0 Fund Balance 478 75,760 0 75,760 0 75,760 75,282 Revenues 233,277 100,000 0 100,000 0 100,000 (133,277) Expenditures 157,995 115,000 0 115,000 0 115,000 (42,995) Capital Fund 75,760 60,760 0 60,760 0 60,760 (15,000) Fund Balance 0 3,383,420 0 3,383,420 0 3,383,420 3,383,420 Revenues 4,223,479 1,050,942 0 1,050,942 0 1,050,942 (3,172,537) Expenditures 840,059 4,434,362 0 4,434,362 0 4,434,362 3,594,303 A&5 Fund 3,383,420 0 0 0 0 0 (3,383,420) Fund Balance 0 0 0 0 0 0 0 Revenues 0 56,900 0 56,900 0 56,900 56,900 Expenditures 0 0 0 0 6,900 6,900 6,900 V&E Fund 0 56,900 0 56,900 6,900 50,000 50,000 Fund Balance 20,000 35,000 0 35,000 0 35,000 15,000 Revenues 15,000 85,500 0 85,500 20,000 105,500 90,500 Expenditures 0 0 0 0 90,500 90,500 90,500 Gen MM Fund 35,000 120,500 0 120,500 70,500 50,000 15,000 Fund Balance 20,000 35,000 0 35,000 0 35,000 15,000 Revenues 15,000 15,000 0 15,000 0 15,000 0 Expenditures 0 0 0 0 0 0 0 Utility MM Fund 35,000 50,000 0 50,000 0 50,000 15,000 Fund Balance 1,138,002 1,588,047 0 1,588,047 0 1,588,047 450,045 Revenues 2,252,743 2,272,550 0 2,272,550 0 2,272,550 19,807 Expenditures 1,802,698 1,998,198 35,172 2,033,370 64,700 2,098,070 295,372 Utility Fund 1,588,047 1,862,399 35,172 1,827,227 64,700 1,762,527 174,480 Revenue and Expenditure Comparison by Fund Type This summary comparison uses a similar format to the one above, but shows fund balance, revenues and expenditures by fund proposed for FY 08/09: $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 Governmental Special Revenue Debt Service Capital Enterprise Internal Service N Beginning Fund Balance N Revenues/ Transfers — Expenditures/ Transfers N Ending Fund Balance 10 Recommended Service Level Adjustments This table provides a summary by department and fund of the service level adjustments (SLA's) proposed for FY 08/09. There are two types of SLA's used in this budget to track cost increases. First is an SLA that maintains the current service level. That is, it contains funding to deal with cost/inflation increases that represent new cost, but continues to provide the current level of service. The second type of SLA identified and tracks all costs (minus associated revenues) of providing a new or expanded level of service. Maintain Current I Level (20,049) Payroll Adj's 2,672 EXPANDEDNEW OR One Time Co 57,500 LEVEL Recurring 87,438 127,561 (3,344) 6,443 88,250 - 91,349 (7,094) 2,173 (4,921) 94,681 23,379 118,060 856 5,668 16,350 1,600 24,474 (4,087) 1,469 - - (2,618) 23,983 2,406 8,643 35,032 (65,455) 5,570 - (59,885) (16,968) 2,423 (14,545) 13,870 - 13,870 57,871 1,627 - 3,500 62,998 74,264 53,830 162,100 101,181 391,375 1,103 3,383 - - 4,486 (44,970) 572 - (44,398) 62,401 341 64,700 127,442 (3,936) 2,301 - (1,635) 13,001 975 - 13,976 27,600 7,572 64,700 99,872 (27,655) 572 152,240 13,650 138,807 (509) 694 - - 185 (10,803) 1,631 (9,172) (698) 694 (4) 19,914 3,378 23,292 (19,752) 6,969 152,240 1 13,650 153,107 13,333 - 5,000 7,796 23,686 13,333 5,000 7,796 23,686 6,900 - 6,900 6,900 90,500 6,900 90,500 90,500 90,500 11 594,372 I 20,000 I 614,372 Funds Projected Beginning Fund Balance 10/1/2008 Projected Revenues and Other Funding Sources Projected Expenditures and Other Funding Uses Net Net Change Projected Ending Fund Balance 9/30/2009 Percent of all Funds General 100 $ 2,765,019 $ 4,997,137 $ 4,946,832 $ 50,305 $ 2,815,324 39% 4B Economic Development 200 327,039 832,176 861,907 (29,731) 297,308 4% Visitors Association 220 1,309,177 529,000 1,114,527 (585,527) 723,650 10% FM1938 252 249,326 0 0 0 249,326 3% Cemetery 255 58,606 21,550 46,843 (25,293) 33,313 0% Vehicle/Equip Replacement 257 0 56,900 6,900 50,000 50,000 1% Property Tax Reduction 260 578,064 839,676 325,000 514,676 1,092,740 15% Debt Service 300 0 1,501,957 1,501,957 0 0 0% Capital Projects 410 75,760 100,000 115,000 (15,000) 60,760 1% Arts & Sciences Center 411 3,383,420 1,050,942 4,434,362 (3,383,420) 0 0% Utility 500 1,588,047 2,272,550 2,098,070 174,480 1,762,527 25% Utility Major Maint 510 35,000 15,000 0 15,000 50,000 1% General Major Maint 600 35,000 105,500 90,500 15,000 50,000 1% TOTAL $ 10,404,457 $ 12,322,388 $ 15,541,899 $ (3,219,511) $ 7,184,946 100% Visitors Association 10% 4B Economic Development General 39% ......... Y 0% Vehicle/Equip Pronertv Tax 12 Debt Service 0% 'Capital Projects 1% _Arts & Sciences Center 0% Utility 25% --Utility Major Maint 1% General Major Maint 1% Charge Servic 18% General Sales Tax 27% 17% 5% 13 lits & Fees 13% �rgovernmental 0% Fines & Forfeits 5% hent Earnings 1% General Sales Tax 1,664,352 832,176 832,176 3,328,704 Beverage Tax 13,300 - 13,300 Franchise Fees 643,780 643,780 Permits & Fees 1,610,175 1,610,175 Intergovernmental 5,865 5,865 Fines & Forfeits 650,883 650,883 Investment Earnings 54,500 28,000 - 7,500 15,000 35,000 140,000 Misc Revenue 57,282 51,000 21,550 - 9,150 138,982 Contributions - - - - 25,000 531,975 - 556,975 Transfers In 297,000 56,900 1,501,957 75,000 - 15,000 105,500 2,051,357 Interfund Advances - - - - 503,967 - - 503,967 Charge for Services - 2,228,400 2,228,400 Hotel Tax Revenues - - 450,000 - - - - - - 450,000 Fund Totals 4,997,137 832,176 529,000 21,550 56,900 839,676 1,501,957 100,000 1,050,942 2,272,550 15,000 105,500 12,322,388 Percentage 41% 7% 4% 0% 0% 7% 12% 1% 9% 18% 0% 1% 100% Charge Servic 18% General Sales Tax 27% 17% 5% 13 lits & Fees 13% �rgovernmental 0% Fines & Forfeits 5% hent Earnings 1% T/I Fund Bal 29,731 585,527 25,293 15,000 3,383,420 - 4,038,971 Net of T/I 4,946,832 1 832,176 529,000 21,550 1 6,900 1 325,000 1 1,501,957 1 100,000 1,050,942 1 2,098,070 1 90,500 11,502,928 NOTE 1: Total Expenditures including transfers out appear excessive when the use of fund balance is included in the total. See Transfers In from Fund Balance above for the total amount of fund balance that is being used related to capital projects and debt service. Capital Projects 31% IFA/Debt Payroll /Salaries 1,448,633 98,315 144,987 1,691,935 Payroll Related 452,308 27,315 62,736 542,359 Supplies 200,143 55,350 18,443 9,400 283,336 Services 1,674,915 256,160 16,400 1,168,134 3,115,609 Insurance 27,192 - - 6,287 33,480 Maintenance 199,470 - 12,000 82,500 293,970 Rent & Utilities 254,626 34,137 - 106,039 394,802 ED Incentives 500,211 - 500,211 Capital Outlay 26,934 3,200 6,900 - 65,500 102,534 Transfers Out 162,400 861,907 640,050 - 325,000 62,000 2,051,357 Capital Projects - - - - - 115,000 4,434,362 173,501 90,500 4,813,363 IFA/Debt - - - - - 1,501,957 - - 216,986 - 1,718,943 FUND TOTAL 4,946,832 861,907 1,114,527 46,843 1 6,900 325,000 1,501,957 115,000 4,434,362 2,098,070 90,500 15,541,899 Percentage 1 32% 6% 7% 0% 0% 2%1 10% 1%1 29% 13% 1%1 100% T/I Fund Bal 29,731 585,527 25,293 15,000 3,383,420 - 4,038,971 Net of T/I 4,946,832 1 832,176 529,000 21,550 1 6,900 1 325,000 1 1,501,957 1 100,000 1,050,942 1 2,098,070 1 90,500 11,502,928 NOTE 1: Total Expenditures including transfers out appear excessive when the use of fund balance is included in the total. See Transfers In from Fund Balance above for the total amount of fund balance that is being used related to capital projects and debt service. 14 Capital Projects 31% IFA/Debt 11% Payroll/Salaries 11% Transfers Out 18% Payroll Related 3% Capital Outlay 1% Supplies 2% ED Incentives 3% Rent & Utilities Insurance Services 3% 0% 20% Maintenance 2% 14 See table below for detailed Transfers In and Transfers Out for all Funds: General Fund monies proposed to be transferred are one-time revenues (i.e. - not occurring annually). TRANSFERS OUT AND TRANSFERS IN - ALL FUNDS General Fund $ 47,000 Transfer In from Utility Fund Tax 30,000 Impact Fees Reduction 17,000 Percentage of Master Plan 250,000 Transfer In from Property Tax Reduction Fund 50,000 Master plan/survey 100,000 Payroll increase/adjustments 100,000 Operations $ 297,000 Total Transfers In 105,500 Transfer Out to General Major Maintenance 72,000 Portion of one time revenue 33,500 Technology/Security funds for court renovation 56,900 Transfer Out to Vehicle & Equipment Fund 56,900 Portion of one time revenue $ 162,400 Total Transfers Out 4B Economic $ 861,907 Transfer Out to Debt Service Fund Development 861,907 100% revenue paid for debt Fund $ 861,907 Total Transfers Out Visitor $ 640,050 Transfer Out to Debt Service Fund Association 640,050 Remaining balance of debt payable Fund $ 640,050 Total Transfers Out Vehicle & $ 56,900 Transfer In from General Fund Equipment 56,900 Portion of one time revenue Fund $ 56,900 Total Transfers In Property $ 250,000 Transfer Out to General Fund Tax 50,000 Master plan/survey Reduction 100,000 Payroll increase/adjustments Fund 100,000 Operations 75,000 Transfer Out to Capital Project Fund 75,000 Stagecoach Hills Drainage $ 325,000 Total Transfers Out Debt $ 640,050 Transfer In from Visitor Association Fund Service 640,050 Remaining balance of debt payable Fund 861,907 Transfer In from 4B Economic Development Fund 861,907 100% revenue paid for debt $ 1,501,957 Total Transfers In Capital $ 75,000 Transfer In from Property Tax Reduction Fund Project 75,000 Stagecoach Hills Drainage Fund $ 75,000 Total Transfers In Utility $ 47,000 Transfer Out to General Fund Fund 30,000 Impact Fees 17,000 Percentage of Master Plan 15,000 Transfer Out to Utility Major Maintenance Fund 15,000 Annual Contribution $ 62,000 Total Transfers Out Utility Major $ 15,000 Transfer In from Utility Fund Maintenance 15,000 Annual Contribution Fund $ 15,000 Total Transfers In General $ 105,500 Transfer In from General Fund Major 72,000 Portion of one time revenue Maintenance 33,500 Technology/Security funds for court renovation Fund $ 105,500 Total Transfers In 15 Staffing Levels/Salary & Wage Associated Costs Staffing in FY 08-09 is proposed to remain the same in all departments with the exception of the following additions. These positions have been approved contingent upon review of the revenues at mid -year and Council approval. Funds have been placed in a contingency fund until approved by Council at mid -year. Department Position Addition Town Secretary New administrative clerk .50 Municipal Court New court clerk 1.00 Planning & Zoning New administrative clerk .33 Human Resources New administrative clerk .33 Maintenance/Facilities New administrative clerk .17 Parks/Recreation New administrative clerk .17 Total Proposed New Positions FY 08-09 2.50 Salary costs have been budgeted at an overall, average 6.10% market increase to move municipal employees closer to market in pay. However, the percentage of market movement will vary by position depending on where the position falls within the pay market. A total of $59,512 has been budgeted for market pay adjustments. Additionally, a total of $30,000 is set aside in the General Fund for performance (merit) pay adjustments to be administered based on performance evaluation. Anticipated cost increases have been budgeted at a 6.1% increase for employee health insurance. A detailed listing of all positions by department is located in the appendix. 16 Fiscal Year 2008/2009 General Fund Departmental Summaries The General Fund, as the name indicates, funds many of the Town's general municipal services. As such, it is the Town's primary fund with a variety of funding sources which finance many primary services. Half of the Town's sales tax, all development and permit fees, franchise fees, citation revenue, and miscellaneous other revenues support this fund. The Town's one-half cent sales tax that supports the General Fund has not performed in the current fiscal year according to original projections and thus, the estimate for this revenue is lower in FY 08/09. For that reason it is proposed to transfer $250,000 of funding from the Property Tax Reduction Fund sales tax to off -set the under- performance of the regular half cent municipal sales tax so as to cover operating expenses in FY 08/09. The General Fund is responsible for all administrative expenditures, including non -enterprise and non - Visitor Association personnel. Expenditures out of the General Fund also include building and code compliance, municipal court, emergency services, public works, facilities maintenance (including Westlake Academy), parks and recreation, consulting, finance, and human resources. For the FY 08/09 Proposed Budget, the following is a summary description of major areas of emphasis or service level adjustments by department: ❖ Administrative (Dept 11) This department provides executive management leadership in terms of coordination and leadership of the Town's operations. Major areas of emphasis and/or service level adjustments for FY08/09 for this department are proposed to include: • Creation of overall Town strategic plan with complimentary Academy strategic plan limited to outcome measures • Improving the Town's capital improvement budgeting process • Develop programmatic budget tied to strategic plan • Improve citizen outreach and communication ❖ Planning and Zoning (Dept 12) The Building/Code Compliance Department focuses on all aspects of planning, development review, inspection, and administration of the Town's building and development codes. In FY 08/09 this department will include areas of focus and service delivery that includes: • Updating the Town's entire comprehensive plan including land use, thorough fare plan, open space, water/sewer, and streetscape master plans • Adopt 2006 Building Codes ❖ Town Secretary (Dept 13) The Town Secretary's Office maintains all official Town records, conducts Town elections; attends the Town Council, Board of Trustee, the Texas Student Housing Authority, and numerous Town 17 advisory boards. Major initiatives and service level adjustments for this department in FY 08/09 are proposed to include: • Continued implementation of paperless packets for Council and extending this to Planning and Zoning packets • Conduct a records inventory for the Town Secretary office and create a records control system • Shared additional staff support funded on a 50/50 basis with Texas Student Housing Authority (TSHA) to address Town Secretary office and TSHA increasing workload. This support person is contingent upon review of revenues at mid -year. ❖ Fire/Emergency Services (Dept 14) This department contains programs and costs related to meeting the Town's fire, police, and emergency medical services needs. FY 08/09 provides the following highlights for this department: • Continued enhancement of public education/prevention programs to extend to all family members • The contract with Keller for police, dispatch, jail and animal control services is proposed to increase by 5.4% from $720,932 to $760,105 in FY 08-09 (there was no increase in FY 07-08 due to Southlake being added to dispatch/jail operations in Keller). ❖ Municipal Court (Dept 15) This department provides the Town with professional legal adjudication services in an integral manner for Town residents and those using the Court's services, all done with a high level of customer service. In FY 08/09 the department will: • Add a self-funded court clerk position to implement/monitor fine payment plans. This support person is contingent upon review of revenues at mid -year. • Construct court lobby security upgrades • Equip warrant officer's vehicle with a mobile data terminal (MDT) to enhance warrant service operations ❖ Public Works (Dept 16) The Public Works Department oversees planning and maintenance of the Town's infrastructure including its street system, drainage ways, traffic operations, duct bank, solid waste collections, and water and sewer utility. Additionally, this department is responsible for oversight of major maintenance projects and capital projects for these areas of the Town's infrastructure. In FY 08/09 new areas of focus for this department include: • Completing N-1 sewer line transfer to the Trinity River Authority • Continuing solid waste collection initiatives that focus on recycling and improved efficiencies • Overseeing capital improvement projects relating to FM 1938, its streetscape, as well as the Stagecoach Hills drainage improvement project 18 ❖ Facilities/Maintenance (Dept 17) Facilities Maintenance is responsible for oversight of all planning and management related to maintaining the Town's buildings and physical plant. This responsibility includes oversight of the maintenance of the Town's $18 million Westlake Academy civic complex. This department in FY 08/09 will: • Management of Westlake Academy Arts & Sciences Center capital improvement project • Facilities Plan to be developed to guide funding of general major maintenance fund • Support planning efforts on updating the Town's comprehensive plan ❖ Finance (Dept 18) Finance Department provides services that include accounts payable/receivable, utility billing, permitting, and records management for the Town, Westlake Academy and Westlake Academy Foundation. In FY 08/09, this department will: • For the second year, pursue and receive the Government Finance Officers Association Distinguished Budget Presentation Award • Receive an unqualified audit opinion • Submit FY 08-09 Comprehensive Annual Financial Report (CAFR) for GFOA recognition • Continue to provide financial management support to Westlake Academy operations ❖ Parks and Recreation (Dept 19) The Parks & Recreation Department is responsible for maintaining and managing the Town's trail system, parks, parks planning, and special events. This department will pursue the following areas of focus in FY 08/09: • Support updating of comprehensive plan as it relates to parks, open space and trails. • Implementation of the Terra Bella open space/trail system • Guide creation and implementation of cemetery master plan • Additional staff support position shared with Planning and Zoning and Parks/Facilities Departments. This support person is contingent upon review of revenues at mid -year. ❖ Information Technology (Dept 20) The Department of Information Technology has as its central focus support of all the Town's municipal information technology systems including software and hardware. This includes overseeing software and hardware contracts for third party vendors as well as planning for IT functions, their hardware replacement needs, and software/security support. During FY 08/09 this Department will pursue: • Improve use of existing Town staff via out -sourcing of IT management and support services to a third -party vendor • Continued emphasis on use of IT to improve delivery of Town services • Develop a 5 year technology plan 19 ❖ Human Resources/Administrative Services (Dept 21) The HR/Administrative Services Department is a new department in the FY 08/09 budget, as it was formerly integrated within the Finance Department. This department provides services to external customers as well as internal operations of the Town of Westlake and Westlake Academy. These services include all HR functions, Payroll, Benefit Administration and Risk Management. In FY 08/09 recommended service level adjustments for this department include: • Complete a comprehensive compensation plan based on the organizations vision, mission and values • Improve integration of Westlake Academy human resources operations to Town. • Additional staff support position shared with Planning and Zoning and Parks/Facilities Departments. This support person is contingent upon review of revenues at mid -year. Fiscal Year 2008/2009 - Fund Summaries ❖ Utility Fund The Utility Fund is responsible for all water, sewer, and telecommunications duct bank service in the Town. The water and sewer services have become more efficient with the inclusion of the Town's Supervisory Control and Data Acquisition (SCADA) system and pressure release valves. The Town continues to use these new technologies to control inflows into our storage facilities and minimize the annual peak payment charges to the City of Fort Worth. In FY 08/09 it is planned to have a solid waste cost center in this fund to charge the solid waste collection fees the Town began collecting recently for its residential solid waste collection franchisee. Capital projects funded by the Utility Fund are described in the capital improvements portion of this overview. The revenues for this fund were estimated based upon a proposed water and sewer rate increase that was reviewed recently with the Town Council and is proposed to go into effect in January 2009. The purpose of this proposed rate increase is to fully recover all system costs as well as provide for capital improvements and maintenance of our water and sewer utility. ❖ Visitors Association Fund The Visitor's Association Fund was established in late FY 1999/2000 and collects a 7% hotel occupancy tax from the Marriott Solana and any future Westlake hotels. FY 2004/2005 saw the launch of a new program in partnership with the Marriott to operate a shuttle service to deliver and return Marriott visitors to DFW Airport. In FY 08/09 it is proposed to utilize monies in this fund for a variety of uses in accordance with statutory parameters including additional marketing to grow group business for the Marriott. There are also funds proposed to be used for marketing and communication efforts of the Town. It is also proposed in FY 08/09 to utilize monies from this fund to pay debt service expenditures for bonds issued to construct Westlake Academy. ❖ Property Tax Reduction Fund The Westlake Property Tax Reduction (PTR) Fund will continue to receive its funding from a % cent sales tax levy that was formerly earmarked for the 4A Economic Development Corporation. The 20 purpose of this fund is to reduce local property tax rates throughout Texas by providing cities with an additional unrestricted revenue source. In Westlake's case, this fund will mitigate economic pressure to adopt a local property tax. These funds may be used for general Town expenditures and in FY 08/09 it is proposed to use these funds to fund some of the cost of updating the Town's comprehensive plan as well as General Fund operations. In FY 08/09 it is proposed not to use any of these PTR funds for debt service (as had been the practice in FY 07/08), and instead, fund those debt service costs from the Visitors Association Fund. ❖ 4B Economic Development Fund The 4B Economic Development Fund collects a %Z cent sales tax to be used for qualified development projects. The 4B Fund has been committed to the repayment of the debt incurred for the Town's Civic Campus project. ❖ Cemetery Fund The Cemetery program includes all operations associated with the 5.5 acre cemetery located on J.T. Ottinger Road. This includes interment, lot sales, record keeping, and all maintenance associated with the grounds, fence tree and flower beds. Focus for this fund in FY 08-09 will include surveying, implementation of the cemetery master plan, as well as commencement of lot sales. ❖ FM1938 Fund This is a Texas Department of Transportation project which staff felt justified setting up a separate fund to track pass-through expenditures and contributions from other cities associated with this project. ❖ Debt Service Fund The Debt Service Fund was created to clearly illustrate the Town's debt service picture. The Town's debt obligations are consolidated into one fund with payments being transferred from 4B Economic Development Fund and the Visitors Association Fund for the payment of our original two issues of certificates of obligation, the bond refunding in relation to the construction of the Civic Campus, as well as the $2.5 million in G.O. Bonds issued in FY 07-08. Future CO's and General Obligation debt issuances will be paid from this fund. ❖ Capital Projects Fund This fund tracks the infrastructure and building projects funded with general fund operating transfers, intergovernmental revenue, bond funds and other special fund sources. Capital projects are those projects over $25,000 that may extend over one fiscal year to complete and reflect multiple expense categories such as engineering, design and construction. All capital projects illustrate not only the expenditure and revenue sources, but ongoing operations impact. ❖ Arts and Sciences Center Fund While this is a capital project, staff recommends tracking it in its own fund due to the number and complexity of the funding sources. 21 ❖ Vehicle & Equipment Fund The Vehicle and Equipment Fund (V&E) was created to provide a mechanism for long term repair and replacement of vehicles and large major equipment. The V&E Fund receives planned portions of revenues from the General Fund to set aside for future vehicle and equipment repairs and replacement. This helps to avoid future funding shortfalls and forces a more conservative pattern of spending in light of uncertain future revenues. ❖ General Maior Maintenance Fund The General Major Maintenance Fund (General MMF) was created to provide a mechanism for long term repair and replacement of large capital assets such as HVAC, walls floors and ceilings, plumbing, electric, roadways, etc. The General MMF receives planned portions of revenues from each operating fund that owns and maintains capital assets to set aside for future capital repair and replacement. This helps to avoid future bond programs and forces a more conservative pattern of spending in light of uncertain future revenues. ❖ Utility Maior Maintenance Fund The Utility Major Maintenance Fund (Utility MMF) was created to provide a mechanism for long term repair and replacement of large capital assets such as pump stations, lift stations, elevated and ground storage facilities, etc. The Utility PCMF receives planned portions of revenues from the Utility Fund to set aside for future capital repair and replacement. This helps to avoid future bond programs and forces a more conservative pattern of spending in light of uncertain future revenues. Capital Improvements and Major Maintenance Projects In FY 08-09, the following capital improvement projects and major maintenance projects are proposed for funding: Capital Projects Fund 410 • Stagecoach Hills Drainage Improvements - $75,000 This project will provide infrastructure drainage improvements in the Stagecoach Hills subdivision. • Deloitte Trail Project - $25,000 Connect the trail from the Deloitte project to Vaquero current trails. $1.5M will be provided by Hillwood for Dove road improvements. 22 • Glenwyck Trail Extension - $15,000 Connect the Glenwyck Farms current trail to the Terra Bella development to the east. Funds are being held in escrow. Arts and Science Center Fund 411 • Westlake Arts & Sciences Center - $4,434,361 Phase 1 of this project to include two Sciences labs, art room, main lobby, offices and restrooms, conference room and half of the parking lot. Utility Fund 500 • Water Meter Automation - $27,000 Plans are to conclude Mahotea Boone pilot program and investigate other alternatives for remaining portion of Town. • TRA Assumption of N1 Sewer Line - $146,501 Assumption of the N-1 sewer line will require the design and construction of a metering station with SCADA equipment at the proposed Town of Westlake "Point of Entry". This project also includes video inspection, excavation to expose lines for inspection, as well as manhole and sewer main repair work. General Maior Maintenance Fund 600 • Westlake Academy - Pod B HVAC System Replacement - $7,000 The roof top unit on Pod B may need a new compressor. The unit has to be reset about every four to six weeks. Due to the location, a small crane will be needed to get the new compressor on the roof at Westlake Academy Campus • Westlake Academy - 15 Ton Split HVAC System Replacement - $9,000 Replacement of compressors and/or coils for one of the five 15 ton units at Westlake Academy campus • Westlake Academy - Remodel/Expand Dining Hall - $36,000 To expand the Dining Room into the classroom across the hall in Pod G of the Academy and to purchase additional chairs and tables. Additionally, small amount of remodeling of service area which would include a new check-out desk. • Westlake Academy - Remodel Office Space - $5,000 Create two offices out of one current office space at the academy. 23 • Remodel Court Room and Town Office Space - $33,500 Install a 6 inch wooden raised floor to accommodate the Board of Alderman trustees, Planning and Zoning Board, Texas Student Housing Board and judge seats. Upgrade recording and audio video system. Remodel current town office space to accommodate the addition of staff subject to mid -year review. 24 This page is intentionally blank FY 08/09 Budget Framework INTRODUCTION The purpose of this section of the Westlake budget is to provide additional detail on revenues, expenditures and fund balances as well as outline the framework on which this budget is based. The Town of Westlake staff is pleased to present the recommended 2008/2009 annual operating budget, which is the product of many hours of preparation as well as a response to ever-changing internal and external influences. As in previous years, efforts have been made to control expenditures while continuing to deliver an excellent level of service to our citizens. Concentrated efforts have been made to produce a document that clearly illustrates the uses of Town resources in a format that may be utilized as a resource tool by the Town Council, Town staff, and the citizens of Westlake. Our budget preparation process continues to be refined on an annual basis, operating within clearly defined budget preparation guidelines. The following procedures, which are guided by generally accepted budgeting practices, has been established: 1. The annual operating budget presents appropriations of expenditures and estimates of revenues for all local government funds. These revenues include sales and use taxes, citation revenue, franchise taxes, mixed beverage taxes, license and permit fees, development fees, sales of printed material, interest income, water and sewer utility revenue, duct bank leases, and miscellaneous revenues. 2. The annual operating budget illustrates expenditures, anticipated revenues, and the estimated impact on reserves 3. Budgets for each department are broken down into specific cost components, including payroll/salaries, payroll related & benefits, supplies, services, insurance, repair & maintenance, rent & utilities, economic development incentives, and capital outlay. 4. Revenue projections are prepared for each revenue source based on an analysis of historical revenue trends and current fiscal conditions. 5. The budget process includes a multi-year projection of required capital improvements. 6. Goals and objectives have been developed for each department and are incorporated into the evaluation of employees and performance of the organization. 7. A budget message summarizing local financial conditions and principal budget issues is presented to the governing council along with the annual budget. The layout and organization of the budget is designed to help the reader locate both financial and non-financial information in a timely fashion. The General Fund is divided into eleven departments, 25 the Utility Fund into four departments, and the Visitors Association into five departments. The remaining funds are not divided into multiple departments. The budget also contains sections outlining the program of services for the Major Maintenance Funds and Capital Improvement Plan (CIP) program. The General Major Maintenance program oversees the maintenance and scheduled repair of the Town's permanent infrastructure. This permanent structure includes buildings, parks, roadways, and rights-of-way. Funding is provided by direct transfers from the General and Utility Funds. There is also an internal service fund for vehicle and equipment replacement (V&E Fund). The final two components include a Community Profile and an Appendices section. The Community Profile contains historical and current information regarding the Town of Westlake. The appendices section consists of a glossary of budget terms, the Town's Fiscal and Budgetary Policy, the Investment Policy, a detail of the Service Level Adjustments by department, a Position Summary schedule and the Town resolution related to the adoption of the budget. The budget contains financial data spanning two fiscal years. The current budget year ending September 30, 2008 is presented in its original adopted form, as well as an amended estimate. Actual totals for the fiscal year ending September 30, 2007 are also presented for comparison. COMPLIANCE WITH GASB STATEMENT NO. 34 The FY 2008/2009 annual operating budget has been prepared in accordance to provisions outlined within the Governmental Accounting Standards Board (GASB) "Statement No. 34, Basic Financial Statements — and Management's Discussion and Analysis — for State and Local Governments"(GASB 34). The GASB establishes national standards for financial accounting and reporting for state and local governmental entities to make their financial reports more understandable, consistent, uniform and comparable, thereby being more easily understood by government employees, elected and appointed officials, and the general public. GASB 34 mandates financial reporting standards that apply to most state and local government entities in Texas and around the nation. The most important aspect of GASB 34 requires that financial statements be prepared on a full accrual basis. GASB 34 also now requires governments to report infrastructure and depreciate their capital assets. Capital assets are depreciated in the annual audit, but are not reflected in the projection of revenues and expenditures detailed in the annual budget. BASIS OF ACCOUNTING/BUDGETING The accounts of the Town are organized on the basis of funds, each of which is considered to be a separate accounting entity. All governmental fund types are budgeted and accounted for on a Generally Accepted Accounting Practice (GAAP) basis for financial statement presentations. The Governmental Fund types use a financial resources measurement focus and utilize the modified accrual basis for accounting and budgeting. Under the modified accrual basis of accounting, revenues 26 are recorded when susceptible to accrual, meaning that it is measurable and available. Available revenues are defined as those funds that are collectable within the current period, or collectable within a timeframe to pay liabilities of the current period. Expenditures generally represent a decrease in net financial resources and are recorded when a measurable fund liability is incurred. In some instances, such as the incurrence of long-term debt, expenditures related to interest on the debt is recorded in the period that it is due. The Proprietary Fund types are accounted and budgeted for on a cost of services, or "Capital Maintenance" measurement focus using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recognized when incurred. For purposes of this budget presentation, depreciation is not displayed and capital expenditures and bond principal payments are shown as uses of funds. Governmental Fund Types Governmental fund types are those through which most governmental functions of the Town are financed. The acquisition, use, and balances of the Town's expendable financial resources and the related liabilities (except those accounted for in the Proprietary and Fiduciary Fund types) are accounted for through Governmental Fund types. Descriptions of each fund contained in the Town's budget are as follows: 1. The General Fund is the general operating fund of the Town. It is used to account for all Town revenues and expenditures except those required to be accounted for in other funds. Major functions financed by the General Fund include Administration, Building & Code Compliance, Fire/EMS, Public Works, Facilities/Grounds Maintenance, Finance and Human Resources, Parks and Recreation, Information Technology, and Engineering. Sources of revenue include sales and use taxes, development fees and permits, court revenue, and franchise taxes. 2. Westlake's Visitors Association Fund receives its primary funding from a 7% hotel occupancy tax adopted by the Town of Westlake in FY 99-00. Proceeds from the hotel occupancy tax are required to be used in accordance with statutory parameters including the promotion of travel and tourism in the Town of Westlake. 3. The 413 Economic Development Corporation Fund is a local option established under the Texas local government code. 4B funds are generated from a % cent sales tax levy and proceeds are used for general economic development and infrastructure support. 4. The Westlake Property Tax Reduction Sales Tax Fund will receive its funding from a %2 cent sales tax levy that was formerly earmarked for the 4A Economic Development Corporation. The purpose of this fund is to reduce local property tax rates throughout Texas by providing cities with an additional unrestricted revenue source. These funds may be used for general Town expenditures, capital projects, or debt service. Westlake is unique in that we are able to use the PTR fund to reduce economic pressures that would normally result in the adoption of a local property tax. 5. The Cemetery Fund includes all operations associated with the 5.5 acre cemetery located on J.T. Ottinger Road which was acquired during the year ended September 2008. 27 6. FM 1938 Fund is a Texas Department of Transportation project for several surrounding cities. The Town is responsible for the books for this project. 7. The Debt Service Fund is established to account for, and the payment of, general long-term debt principal and interest. This fund provides a clearer accounting of ongoing debt obligations compared to operating budgets. The Debt Service Fund is used to make scheduled payments for all bond issues associated with the building of the Civic Campus as well as a partial refunding of the 2002 series. 8. The Capital Project Fund tracks the infrastructure and building projects (other than those financed by proprietary fund types), funded with general operating transfers, intergovernmental revenue, bond funds and other special funding methods. Capital expenditures are clearly identified by their respective funding sources, and projects are shown in a clear, concise format. 9. The Arts & Sciences Center Fund tracks the monies related to the new building to be located on the Westlake Academy Civic Campus. Proprietary Fund Types Proprietary fund types operate in a manner similar to private business utilizing an accrual basis of accounting. Enterprise Funds account for operations of governmental facilities operated in a manner similar to commercial enterprises where the intent is to recover, in whole or in part, the costs and expenses of providing goods and services to the public. Revenues are typically generated through usage fees based on individual demands of each customer. Enterprise funds may be used when the governing body has determined that periodic determination of revenue earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. • The Utility Fund accounts for water, wastewater and telecommunications conveyance (duct bank) services for the residents of the Town. All activities necessary to provide such services are accounted for in the Fund, including administration, operations, maintenance, financing and related debt service, and billing and collection. Additionally, the Town collects monthly solid collection fees in this fund which are paid to the Town's solid waste franchisee. Internal Service Funds account for services and/or commodities furnished by a designated program to other programs within the Town. Funds include the following: • Vehicle & Equipment Replacement Fund (V&E) provides a mechanism form long-term repair and replacement of vehicles and equipment. The V&E Fund receives planned portions of revenue from the General Fund to set aside for future vehicle and equipment repairs and replacement. 28 • The General Major Maintenance Fund (GMM) is an account to offset the future costs of repair and/or replacement of large capital assets due to age and use. Contributions from the Town's General Fund are transferred on an annual basis; resulting in a cash balance which mitigates the cash flow impact of large maintenance and capital replacement costs. • The Utility Major Maintenance Fund (UMM) is an account to offset the future costs of repair and/or replacement of large capital assets due to age and use. Contributions from the Town's Utility Fund are transferred on an annual basis; resulting in a cash balance which mitigates the cash flow impact of large maintenance and capital replacement costs. 29 THE BUDGET PROCESS The Town Manager submits the budget to the Town Council. The Town's fiscal year begins each year on October 1St and ends on September 30th of the following calendar year. Prior to the beginning of the fiscal year, the Town Manager must submit a proposed budget, which includes: • A budget message • A consolidation statement of anticipated revenues and proposed expenditures for all funds • General fund resources in detail • Special fund resources in detail • A summary of proposed expenditures by department and activity • Detailed estimates of expenditures shown separately to support the proposed expenditure • A description of all bond issues outstanding • A schedule of the principal and interest payments of each bond issue The proposed revenues and expenditures must be compared to prior year revenues and expenditures. The budget preparation process begins early in the calendar year with the establishment of overall town goals, objectives, and analysis of current year operations compared to expenditures. Budget policies and procedures are reviewed at the same time to reduce errors and omissions. In May, the Finance Department prepares such items as budget forms and instructions for estimating revenues and expenditures. Department heads submit proposed baseline expenditures for current service levels and any additional one-time or on-going request they may have for their department. Meetings are subsequently held with the Town Manager, the Finance Director and each department head. After all funding levels are established and agreed upon; the proposed budget is presented by the Town Manager to the Town Council. A public hearing on the budget is conducted in accordance with state and local law. This meeting is held after the Council has reviewed the budget during a workshop. The Town Council approves a level of expenditure (or appropriation) for each fund to go into effect on October 1st, prior to the expenditure of any Town funds for that budget year. 30 BUDGET AMENDMENT PROCESS The Town Manager may request that the current year budget be amended. In this process, the Town Manager will review the documentation and draft an ordinance to formally amend the current budget. This ordinance is presented to the Town Council for consideration. Following the consideration of the proposed amendment, the Town Council will vote on the amendment ordinance. If the amendment is approved, the necessary budget changes are then made. All budget amendments will be approved by the Town Council prior to the expenditure of funds in excess of the previously authorized budgeted amounts within each department. 31 FY 2008-2009 BUDGET PREPARATION CALENDAR DATE ACTIVITY PARTICIPANTS May 14 Operating & Capital Budget Kickoff Town Manager, Finance Director Orientation & Overview: and staff, Department Heads - Provide explanations and instructions preparing the FY 2008-2009 budget submissions - Distribute worksheets to each Department head for development of Goals & Objectives, Service Level Adjustments, Operating & CIP budgets June 6 Goals & Objectives Deadline/Service Level Adjustments Department Heads, Finance staff Deadline June 13 Capital Projects deadline Department Heads, Finance staff June 13 Department Operating Budget deadline Department Heads, Finance staff Finance department review, revision and compilation of June 13-20 budget Finance staff requests for distribution to Town Manager June 25 Budget Package delivered to Town Manager Finance Staff June 30 Department Budget Hearings begin Town Manager, Finance Director, Department Heads July 15 - 25 Preparation of Proposed Budget for Town Council Finance staff August 22 Proposed Budget distribution to the Town Council Finance staff And filed with Town Secretary August 25 Town Council Workshop Council, Town Manager, Finance staff, Department Heads August 22 Publish of Notice of Public Hearing on Budget Town Secretary September 8 Public Hearing on Budget Council, Town Manager September 8 Adopt Budget Council October 1 Fiscal Year 2008-2009 begins 32 Hotel Tax 41 Charge for_' 18% ALL FUND SUMMARY General Sales Tax 7fi% 21% Budgeted Town Revenues — All Fund Types Revenues and Other Financing Sources is & Fees 3% rgovernmental 0% Fines & Forfeits 5% tment Earnings 1% iue Comparing the adopted FY 07/08 revenues to adopted 08/09 revenues, total Town revenues (all funding sources) are budgeted at $12,332,388, a decrease of $2,092,558 from the previous year. The primary decrease in budgeted revenue and other financing sources is comprised of the following: a bond issuance of $2,500,000 in the prior year, a decrease of approximately $680,000 in sales tax revenue, an increase of $300,000 for permits and plan reviews related to the Deloitte project, a decrease in interest income of $111,000, increase in franchise fees of $109,000, additional transfer in of $190,000 in debt service budgeted for FY 08/09, transfers into the Vehicle and Equipment Fund and Major Maintenance Funds of $162,400 as well as $250,000 to the General Fund from The Property Tax Reduction Fund. The net effect of these categories accounts for 98% of the revenue decrease. Sales tax revenues are projected to decrease by $670,000 in FY 08/09 from the adopted FY 07/08 budget. In FY 07/08, we estimated the receipt of approximately $900,000 from the Fidelity II project. The amount of $700,000 has been budgeted in FY 08/09 for the new Deloitte project along with the remaining $200,000 from the last phase of Fidelity II. Therefore, the increase of one of these sales tax sources offsets the decrease of the other. Sales tax revenues are appropriated to the General Fund (50%), Property Tax Reduction Fund (25%), and the 4B Economic Development Fund (25%). 33 Hotel/Motel Occupancy Tax collections in the Visitors Association Fund are budgeted to be the same as projected in the prior year. The General Fund generates the Town's largest revenue stream, totaling $4,997,137 (48% of all revenues not including transfers in or interfund receipts). The Utility Fund represents the second- largest source of revenue at $2,272,550 (23%). The Property Tax Reduction and the 4B Economic Development Funds represent the third and forth largest revenue sources, respectively with $839,676 and $832,176. Revenue for major operating funds will be discussed in greater detail later in the Budget Framework. Capital Projects 30% .r Capital Outlay 1% ED Incentives 3% Rent & Utilities 2% Transfers Out 18% IFA/Debt 11% Maintenance 2% Insurance 0% Budgeted Town Expenditures — All Fund Types Expenditures and Other Financing Uses Payroll /Salaries _ 11% Payroll Related 3% Supplies 2°% The FY 2009 adopted budget, including all expenditures and other financing uses, for all funds total $15,541,899, an increase of $3,514,363 from the prior year. The primary growth in budgeted expenditures is comprised of the projected capital expenditure completion for the construction of the Arts & Sciences Center totaling $2,008,362 (total budget less prior year's adopted budget) which represents 57% of the total increase. The amount of $180,000 (5%) of the $640,050 planned to be transferred out of the Visitors Association Fund for debt payment represents the Town's first payment on the $2.5 million bond issue for the Arts & Sciences Center. 34 Additional expenditures/transfers out are represented in the amount of $105,500 (3%) transfer out of the General Fund to the General Major Maintenance as well as $56,900 (2%) to the Vehicle & Equipment Fund. Additionally, $250,000 will be transferred from the Property Tax Reduction Fund in the amount of $325,000 for capital projects, payroll increases/adjustments, master plan and survey, and General Fund operations (16%). See Page 15 for detail of each Transfer Out. The Town's largest operating fund is the General Fund, which provides $4,997,137 in funding for the majority of services available to Town residents through 11 departments. The second largest operating fund is the Utility Fund, providing $2,272,550 in funding. These revenues are generated primarily by providing water and wastewater services to the Westlake community. This fund also collects solid waste collection fees that are paid to the Town's franchised solid waste collection firm. The third largest operating fund is the Visitors Association Fund, providing $529,000 in funding for marketing and promotion of the Town's hotel, as well as tourism. Expenditures for major operating funds will be discussed in depth later in this Budget Framework. Fund Balances The October 1, 2008, budgeted Town fund balances total $10,404,457 an increase of $4,242,805 (70%) from the October 1, 2007 total. ■ The General Fund posted a decrease of $311,280 primarily due to a $200,000 transfer of designated funds regarding the Arts & Sciences Center. The ending fund balance will provide for 228 days of operations. ■ The Visitors Association Fund increased by $126,155. The ending balance will provide for 1,459 days of operations. ■ The Utility Fund's working capital balance increased $450,045. The majority of this amount was due to several capital projects that were not funded or completed during the FY 07/08. The ending balance provides for 311 days of operations. ■ The Arts & Sciences Center posted an increase of $3,383,420, primarily due to the construction of the building not starting during FY 07/08 as had been planned plus an additional $800,000 unanticipated contribution to this project and the receipt of the $2.5 million bond proceeds. Construction will begin in the fall of FY 08/09. 35 Estimated Fund Balances -All Funds Funds Projected Beginning Fund Balance 10/1/2008 Projected Revenues and Other Funding Sources Projected Expenditures and Other Funding Uses Net Net Change Projected Ending Fund Balance 9/30/2009 Percent of all Funds General 100 $ 2,765,019 $ 4,997,137 $ 4,946,832 $ 50,305 $ 2,815,324 39% 4B Economic Development 200 327,039 832,176 861,907 (29,731) 297,308 4% Visitors Association 220 1,309,177 529,000 1,114,527 (585,527) 723,650 10% FM1938 252 249,326 0 0 0 249,326 3% Cemetery 255 58,606 21,550 46,843 (25,293) 33,313 0% Vehicle/Equip Replacement 257 0 56,900 6,900 50,000 50,000 1% Property Tax Reduction 260 578,064 839,676 325,000 514,676 1,092,740 15% Debt Service 300 0 1,501,957 1,501,957 0 0 0% Capital Projects 410 75,760 100,000 115,000 (15,000) 60,760 1% Arts & Sciences Center 411 3,383,420 1,050,942 4,434,362 (3,383,420) 0 0% Utility 500 1,588,047 2,272,550 2,098,070 174,480 1,762,527 25% Utility Major Maintenance 510 35,000 15,000 0 15,000 50,000 1% General Major Maintenance 600 35,000 105,500 90,500 15,000 50,000 1% TOTAL $ 10,404,457 $ 12,322,388 $ 15,541,899 $ (3,219,511) $ 7,184,946 100% Visitors Associ 10' 413 Econ( Develops 4% Gene 399 Cemetery 0% \/ohirlo/Gn iin Property Tax 36 1% ital Projects 1% Is & Sciences Center 0% Utility 25% 3jor Maint _% Total Authorized Positions Two and one-half additional positions are proposed for the FY 08/09. The first position is administrative in nature to be shared by the Planning & Zoning, Human Resources and Administrative Services, and the Maintenance and Parks Departments. A second position will be a self-funded court clerk and the one-half person will assist the Town Secretary. The funding of these positions is contingent upon a review of revenue at mid -year. Public Works 5% Facilities Maintenance 3% 1-1 _ �\ Finance Park & 10% Recreation 1 3% HR and Admin Services 5% Administrative 10% Planning �& Zoning 5% Town Secretary 5% Emergency Services FY 2008-2009 Authorized Personnel by Department 37 Classification Total % 11 Administrative 3.00 10% 12 Planning & Zoning 1.00 5% 13 Town Secretary 1.00 5% 14 Emergency Services 11.00 37% 15 Municipal Court 4.00 17% 16 Public Works 1.50 5% 17 Facilities Maintenance 0.75 3% 18 Finance 3.00 10% 19 Park & Recreation 0.75 3% 21 HR/Admin Services 1.00 5% TOTAL 27.00 100% 37 GENERAL FUND Revenues Funding of the Town's General Fund operations is segmented into five primary revenue categories. Each of these categories is detailed below with a brief description, how they are affected by internal and external factors, and how amounts differ from the prior year. Total revenues for FY 08/09 are projected to be $4,997,137, a 14% increase of the estimated FY 07/08 total of $4,371,794. Transfers In Misc Revenue 14%—\ 1% Investment Earnings----- 1% Fines & Forfeitures/ 12% Intergovernmental 0% Permits & fees 30% Sales & Use Taxes General Sales Tax 30% Budgeted Revenues - General Fund Mixed Beverage Tax / 0% Fees 12% Sales taxes are collected on the sale of goods and services within the Town as authorized by the State of Texas. The maximum sales tax allowed in the State of Texas is 8.25% per dollar on all taxable goods and services. Funds are collected by the Texas Comptroller of Public Accounts and remitted to the Town on a monthly basis. An amount equal to 1% of the taxable sales (50% of local collections) is appropriated to the Town's General Fund. The Town also receives an additional 1% sales tax that is equally divided between the 4B Economic Development Corporation Fund and the Property Tax Reduction Sales Tax Fund. 38 Sales tax receipts continue to be one the Town's single largest revenue source, comprising 33% of General Fund revenues. Sales taxes in the General Fund are budgeted to decrease by $13,108 from the estimated year-end balance. A total of $453,678 is estimated in FY 07/08 to be received due to the construction of the new Fidelity campus. The General Fund portion of the budgeted FY 08/09 sales tax is $116,428 for Fidelity and $348,241 for the new Deloitte project. The economic development agreement for both projects requires a 1% sales tax rebate to the developers. As can be seen, the revenue totals on these agreements are comparable and the remaining sales tax is budgeted to remain flat. The Town also collects a 14% gross receipt tax on mixed beverages. Of this percentage, 10.7% of gross liquor receipts are remitted to the Town, and the remaining 3.3% is retained by the State of Texas. No increase of Alcoholic beverage tax revenue is anticipated. 3750000 3500000 3,354,920 3,328 ,704 3250000 3000000 2750000 2,9130,342 2500000 - 2250000 - 2000000 1,765,371 1,989,212 1750000 FY 03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 actual actual actual actual Projected Proposed Sales Tax Revenue Trend Franchise Taxes Franchise taxes represent revenues collected from utilities operating within the Town that use the Town rights-of-way to conduct their business. A flat rate is charged to both telephone operators (adjusted annually) and Tri -County Electric based on the number of access lines and services rendered, respectively. Overall, franchise taxes are expected to increase by 5% in FY 08/09 from the FY 07/08 estimated amount. Licenses & Permits License and permit revenues include fees charged by the Town for certain types of operator licenses, as well as permits for construction and other items regulated by Town ordinances. Total licenses & permits are anticipated to increase approximately $347,426 (31%). The major portion of this increase is contributed to the Deloitte campus project and gas well site and drilling permits. 39 Court Revenue The revenue generated from the Municipal Court is based on citations and warrants issued. The Keller Police Department will continue to perform its contractual patrol of Westlake roads in 2008- 2009. Budgeted citation revenue for FY 08/09 is $649,683. Estimated FY 2007/2008 has been reduced to $609,598 due to police enforcement creating fewer potential violations. The estimated 2008/2009 budget of $649,683 is a 7% increase over estimated 07/09 totals. 1,100,000 1,050,000 1,000,000 950,000 900,000 850,000 800,000 750,000 700,000 650,000 600,000 FY 03/04 actual Miscellaneous Revenue FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 actual actual actual Projected Proposed Court Revenue Trend Miscellaneous revenue includes the sale of printed materials, interest earned, and parks & recreation fees. Trnncfarc In Transfers In represents those funds transferred from one fund to another. These transfers may be utilized as a means to fund projects or debt service from multiple sources. Transfers In may also be used to transfer funds collected by one fund and belong in a different fund. An example of this would be collection of Fort Worth Impact Fees, which are collected with initial water deposits and tap fees on new water meters. These funds are collected by the Utility Fund and transferred to the General Fund as a result of an agreement with the City of Fort Worth. When the transferred total reaches $2,000,000 (remaining balance is $1,675,627) these funds will be paid to the City of Fort Worth in compliance with the wholesale water customer agreement. The budgeted transfer in from the Utility fund related to these fees is $30,000, an increase of $5,000 from estimated year- end FY 07/08. $17,000 is also being proposed to be transferred for the utility portion of the updated master plan. Staff has also proposed a transfer in from the Property Tax Reduction Fund to cover one-time expenditures as well as General Fund operating and maintenance costs. This transfer represents $250,000 (84%) of the total $297,000 transfer in. 40 Supplies 4% Payroll Relat( Benefits 9% Expenditures SPrvirP-, Insurance Repair & o Maintenance 0/0 , r ao/ lities Payroll /Salaries 28% Projected Expenditures by Function — General Fund nomic opment ntives 3% Capital Outlay 3% )ut FY 2008/2009 operating expenditures and transfers out in General Fund total $4,946,832, compared with adopted FY 07/08 budget of $4,364,158 and estimated year-end balance of $4,683,075. This represents a 7% increase in expenditures and transfers out from the estimated year-end balances. Approximately 30% of the increase is due to employee and related expenditures. These include the addition of the Town Manager as an employee, opposed to a service contract, two and one/half new positions (allocated over several funds and contingent upon review of reviews at mid -year), insurance and TMRS cost increases, and performance based salary adjustments based on updated salary survey information for similar positions in surrounding cities. Previously, the Town Manager was on contract with the Town and was not included in the Payroll and related benefits. Ten percent (10%) of the increase is due to the increase of services, including $30,173 increase in the Keller Police contract and $63,250 for third -party inspection and additional consultants related to the Deloitte campus. Transfers out FY 08/09 are projected to total $162,400, a decrease of $127,617 from the previous year's estimated year-end total. The majority of this transfer represents one-time revenue which is being transferred out for capital projects, and to build up the General Major Maintenance and Vehicle & Equipment Replacement Funds. As in recent years, Town staff continues to operate conservatively by controlling costs while maintaining the highest possible levels of service. These goals are only possible through continued 41 strategic planning and the innovative use of available resources. Our overall budget philosophy continues to focus on meeting stated goals and objectives and maintaining a 90 day fund balance without adopting a local property tax. In the FY 07/08 budget, personnel expenditures remain the largest single expenditure category, accounting for 37% of all General Fund expenditures. This represents the same percentage as the estimated year-end balance in FY 07/08. Fund Balance The audited fund balance of the General Fund as of October 1, 2007 was $3,076,299. The FY 07/08 Adopted Budget projected an excess of revenues and other financing sources over expenditures and other financing uses by $663,086 due primarily to the additional fees and permits related to the Fidelity campus project as well as a projected increase in sales tax. This resulted in a budgeted ending fund balance of $3,739,385. Revised revenue and expenditure estimates for FY 07/08 project excess of expenditures and other financing uses over revenue and other financing sources by $311,280, a $974,366 decrease from the adopted budget. This decrease is primarily due to the reduced collection of sales tax during the fiscal year, the search for a Town Manager and Head of School for the Westlake Academy, and funding of an Interim Town Manager and a new Town Manager simultaneously for a portion of the fiscal year. The fund balance as of September 30, 2008 is estimated at $2,765,019 and the undesignated/unrestricted balance represents coverage for 228 operating days. The FY 08/09 budget projects revenue and other financing sources in excess of expenditures and other financing uses by $50,305 to result in a September 30, 2009 ending fund balance of $2,815,324. The projected undesignated/unrestricted ending fund balance represents coverage for 192 operating days. 42 UTILITY FUND The Utility Fund accounts for water and wastewater services for the residents of the Town. All activities necessary to provide such services are accounted for in the fund, including administration, operations, maintenance, financing and related debt service, and billing and collection. In addition, this fund contains the planning and implementation of the "Westlake Duct Bank". The duct bank is a series of underground conduits designed to house underground telecommunications services in Westlake. The duct bank is a public/private partnership that utilizes private sector capital, town planning and engineering and town operation. Phase I was completed in FY 00/01 and became ready for occupancy in FY 01/02. The first leases were entered into in FY 02/03 with payments totaling $281,293. In FY 03/04, the Town received payment from Verizon in the amount of $183,452. FY 2004/2005 saw the completion of the duct bank extension from Vaquero to Pearson Road and generated $107,831 in revenue to the Town in FY 04/05. Additional duct bank revenue in FY 08/09 will depend upon the completion of the last approved subdivision, Terra Bella located on Dove and Sam School Rd. Staff is committed to maintaining an up to date cost/benefit analysis of water and sewer revenue to ensure profitability and to maintain the integrity of the fund. The budget is based on a proposed increase in water and sewer rates and/or rate structures based on a study performed in FY 07/08. The fund is burdened with two outstanding long-term obligations. The first is the proportionate buyout of infrastructure owned by the Hunt Trust that sold the Circle T Ranch to Hillwood. The Town's agreement with Hillwood is that in exchange for dissolution of the Municipal Utility Districts (MUDS), the Utility Fund will reimburse Hillwood the share of purchased MUDS infrastructure for each development based upon the acres removed from the MUDS. Hillwood, in turn, must deposit these funds into an escrow account owned by the Hunt Trust. The second long term liability is the loan from Hillwood to the Town to construct the Dove Road water line and the SH 377 Pump and Meter Station. The Town is contractually obligated to pay for this infrastructure through a surcharge on water rates. The Town is divided into two service areas, one being the Circle T Ranch, and the remaining areas within the Town's limits constitute the "Town" service area. The Town pays Hillwood $.25 cents per 1,000 gallons of water distributed to consumers in these two service areas. Each service area pays its respective portion of the overall debt based on the volume of water used from its customers. The contract clearly stipulates that this is not a general obligation of the Town. It is, however, required to be paid back through this assessment being attached to the water rate. The rate would have to be doubled to pay this debt off in the twenty years contemplated under the agreement. Hillwood has stated that once the Town and Hillwood agree on proportionate future infrastructure funding, this liability will be erased. Nevertheless, the obligation does exist and water rates should always be reviewed with this obligation in mind. 43 Misc Rev 0% Impact fees_�I 1% Sewer Revenue Interest Earned 17% 2% enue� Tap Fees 1% Waste Management 2% Debt Service Areas 4% Budgeted Revenues — Utility Fund Water Revenue 73% Revenues Utility Fund revenue is primarily comprised of fees for water and wastewater service. The fund also receives a small portion of its revenue through tap fees and interest income, and currently serves as a mechanism for collecting and distributing debt service and impact fees. FY 08/09 revenues are budgeted at $2,272,550, a 1% increase over the FY 07/08 estimated year-end budget of $2,252,743. Water Revenue The Utility Fund is the recipient of all revenue generated from water sales in the Town. With the opening of Westlake's master -planned residential developments, the Town placed new water infrastructure into service in 2000. As Westlake's customer base expands, additional demands have been placed on the utility system, requiring incremental expansion of infrastructure. The health of the Utility Fund has continued to improve during the last several years as numbers of residential and commercial customers have increased; however, a study performed during the FY 07/08 indicates that a rate increase is needed to recover actual cost of services. FY 08/09 revenues are based on a new rate structure that will be taken to the Town Council for approval during the fall of 2008. 44 Duct Bank The duct bank is the conduit that houses underground telecommunication infrastructure in Westlake. Revenues from the duct bank are contingent upon utility companies leasing out portions of the conduit. The Town successfully executed new duct bank leases since from 2001-2005; and anticipates steady growth in leases as the town grows. Wastewater Revenues Another major component for Utility Fund revenues is for wastewater. Wastewater will continue to grow proportionate to future non -irrigation water demands. These future increases can be attributed to both residential and commercial growth. No reductions in wastewater rates are planned at this time. Waste Management During the FY 07/08 the Town took over the billing and collection of residential solid waste user fees for its franchised hauler. The Town receives a 12% fee from its franchisee for providing this service. 2,300,000 2,100, 000 1,900,000 1,700,000 1,500,000 1,300,000 1,100, 000 FY 03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 actual actual actual actual Projected Proposed Utility Fund Revenue Trend 45 Water Purchases/Peak Pymt 44% Expenses Insurance GL/Auto/Property Repair & 0% Maintenance 4% Rent & Utilities 5% Interfund ^Payments/Debt / 10% am Capital Outlay ----j' 3% Total Transfers Out 3% Capital Projects 8% J Payroll Payroll Related 8% 1% 2% Budgeted Expenses — Utility Fund FY 08/09 operating expenses in the Utility Fund are projected at $1,924,569; a 1% decrease from FY 07/08 adopted operating expenses of $1,943,708 and $121,871 (7%) greater than estimated year-end FY2007/2008 budget. The Utility Fund will continue to fund capital projects that are necessary for infrastructure expansion and maintenance. 46 WESTLAKE VISITORS ASSOCIATION FUND Hotel Occupancy Taxes are allocated to this fund and obtained through the assessment of a 7% hotel occupancy tax. Authority granted by the State of Texas allows cities to levy a tax not to exceed 7% of the rental rate for a hotel/motel room. Funds generated by the occupancy tax are required to be used in a manner that directly enhances and promotes tourism and the convention and hotel industry. Revenues Revenues for the Westlake Visitor's Association are based mostly on Hotel Occupancy Taxes and interest income on the account. Other revenues are from the Westlake Historical Board and Arbor Days events. Revenues for FY 08/09 are projected to be $529,000, a 4% increase from the adopted FY 07/08 budget, and a 9% increase from the FY 07/08 year-end estimate. This is attributed to the projected $20,000 increase in Hotel Occupancy Tax after completion of the 94 room expansion of the Marriott Solana hotel in 2007/2008. Hotel Occupancy Tax 90% Public Arts Income 1% Interest Income 6% Historical Board Income 1% Arbor Days Income 2% Budgeted Revenues —Visitors Association Fund Expenditures Operating expenditures are budgeted to be $474,477 for FY 08/09. This is an 87% increase from the adopted budget due mostly to the increase in Marriott marketing expense and additional contracted services related to marketing and website development and maintenance. These two expenses total approximately $150,000 of the $220,434 increase. 47 Transfers out Transfers out for FY 08/09 are projected to be $640,050 which represents debt service payment for bonds issued to construct the Westlake Academy facilities. Previously, the bond payment came from the Property Tax Reduction Fund and the 4B Economic Development Fund. Capital Outlay 0% Rent & Utilities 2% Services 20% Transfers Out 67% Supplies) Payroll Related 2% 2% Payroll 7% Budgeted Expenditures & Transfers Out - Visitors Association Fund 48 4B ECONOMIC DEVELOPMENT FUND The 4B Economic Development Fund collects a Y cent sales tax to be used for qualified development projects. The 4B fund is committed to the repayment of the debt incurred for the Town's Civic Campus projects. Revenues FY 08/09 revenues are anticipated to be $832,176, approximately the same as the estimated year-end budget. Projected FY 07/08 year-end tax revenue from the Fidelity project is $226,838. The 4B portion of the budgeted FY 08/09 sales tax is $58,214 for Fidelity and $174,121 for the new Deloitte project. As can be seen, these totals are comparable to the previous year and the remaining sales tax is budgeted to remain flat. Expenditures and Other Uses Transfers out to the Debt Service Fund for FY 08/09 are projected at $861,907, the total of the anticipated revenues and an interfund repayment from the Utility Fund in the amount of $29,731. PROPERTY TAX REDUCTION SALES TAX FUND The Property Tax Reduction (PTR) Sales Tax Fund receives its funding from a Y cent sales tax levy that was formerly earmarked for the 4A Economic Development Corporation. In 2006 the voters of Westlake approved the dissolution of the 4A % cent tax and the implantation of the % cent tax to reduce property taxes in order to secure a less restrictive funding source for the Town. A portion of these funds are used to pay remaining debt service over and above that provided by the 4B Economic Development Corporation. Revenues FY 08/09 revenues are anticipated to be $839,676, approximately the same as the estimated year-end budget. FY 07/28 year-end tax revenue from the Fidelity project is $226,838. The PTR portion of the budgeted FY 08/09 sales tax is $58,214 for Fidelity and $174,121 for the new Deloitte project. As can be seen, these totals are comparable to the previous year and the remaining sales tax is budgeted to remain flat. Expenditures and Other Uses Transfers out to the General Fund totaling $250,000 and a transfer of $75,000 to the Capital Projects Fund are budgeted for FY 2008/2009. Previously debt service payments were made from this fund but are proposed to be paid from the Visitors Association Fund for FY 08/09. The transfers out to the General Fund are to cover one-time costs and operating expenditures. 49 CEMETERY FUND The Cemetery fund includes all operations association with the 5.5 acre cemetery located on J.T. Ottinger Road. The cemetery was donated and conveyed by deed to the Town during FY 07/08. Revenues Revenues for FY 08/09 include section sales, perpetual care and interment, and marker sales that are budgeted at $21,550. This is a $60,213 decrease from the previous year due to the contribution of $71,763 which was received when the cemetery was turned over to the Town. Expenditures Budgeted expenditures include surveying, a master plan, sale of lots, as well as maintenance, etc. These total $46,843 for FY 08/09. FM 1938 FUND This fund represents a Texas Department of Transportation long-term project which has received contribution from several surrounding cities with the Town keeping the books for the project. This is essentially a "pass-through" account used to track local expenditures from the cities participating in this project. Fund Balance As of FY 07/08 year-end, there is a fund balance in the amount of $251,826 in this fund. Expenditures Appropriate project expenditures will be charged to this fund as they are received with appropriate budget amendments. DEBT SERVICE FUND The Debt Service Fund is used for the payment of general long-term debt principal, interest and related costs of Town issued debt. The Town of Westlake levies no ad valorem tax and there is no direct limit on debt for the Town. The Constitution of the State of Texas provides that the ad valorem tax levied by the Issuer for general purposes and for the purpose of paying debt service requirements of the Issuer's general obligation debt shall not exceed $1.50 for each $100 of assessed valuation of taxable property. Debt service payments are made for the following issues made for the construction of the Westlake Academy facilities: $12,400,000 Certificates of Obligation — Series 2002 $ 6,410,000 Certificates of Obligation — Series 2003 $ 7,465,000 General Obligation Refunding Bonds — Series 2007 (partial refunding of $12.4 CO issue) $ 2,500,000 General Obligation Bonds — Series 2002 50 Revenues Current debt service on the Westlake Civic Campus is paid by 4B Economic Development funds and will be supplemented by the Visitors Association Fund for FY 08/09. Expenditures Expenditures for the Debt Service Fund are budgeted at $1,501,957, an increase of $185,643 from FY 07/08. This increase is due to the $2.5 million 2008 General Obligation debt issued for the construction of the Arts & Sciences Center. CAPITAL PROJECTS FUND The Capital Projects Fund tracks the infrastructure and building projects funded with general fund operating transfers, intergovernmental revenue, bond funds and other special fund sources. Capital projects are those projects over $25,000 that may extend over one fiscal year to complete and reflect multiple expense categories such as engineering, design and construction. All capital projects illustrate not only the expenditure and revenue sources, but ongoing operating impact. Impact of Capital Improvements Projects to Operating Budget Completion of CIP projects may have a fiscal impact to the Town's operating funds as routine maintenance and operational expenditures are necessary to utilize the completed project. When an operating impact has been identified, it is included on the project description sheet, and costs are projected for the next three years. Upon approval of the project for an annual expenditure, the fiscal impact is integrated into the operating budget. Revenues and Other Financing Sources FY 08/09 revenues and other financing sources are anticipated to be $100,000, a decrease of $133,277 from the estimated year-end budget of FY 07/08. $75,760 will be designated for the remaining portion of capital projects now in progress. See the Proposed Capital Improvement Projects on page 135 for detail of these projects. Expenditures Expenditures for FY 07/08 are projected at $115,000, a decrease of $42,995 from the FY 2007/2008 estimated year-end budget of $157,995. 51 ARTS AND SCIENCES CENTER This is a capital project fund created specifically for this project due to the complexity of its funding sources. The Arts and Sciences Center Phase I will include science labs, art room, main lobby, offices, restrooms, a conference room, and half of the parking lot. A portion of Phase I will be funded by the $2.5M General Obligation bonds that were issued during FY 07/08 as well as contributions and grants. Revenues and Other Financing Sources FY 2008/2009 revenues and other financing sources are anticipated to be $1.04M. Estimated fund balance at the end of FY 2007/2008 will be $3.38M. In order to cover private donations pledged for this project, it is proposed to designate in the General Fund an additional $305,467 as a potential inter -fund loan to cover these private donations expected to be received over FY 08/09 and 09/10. Expenditures Capital project expenses of $4,434,362 are budgeted for FY 08/09, making the total Phase I project total $5,274,421. VEHICLE AND EQUIPMENT REPLACEMENT FUND The Vehicle and Equipment Replacement Fund (V&E) was created to provide a mechanism for long term repair and replacement of vehicles and large major equipment. The V&E Fund receives planned portions of revenues from the General Fund to set aside for future vehicle and equipment repairs and replacement. Revenues and Other Sources A transfer in from the General Fund of one-time revenue is budgeted in the amount of $56,900 to build up the balance in this fund to help avoid future funding shortfalls. Expenditures A budget of $6,900 has been adopted to replace equipment for the Town Secretary and the EMS/Fire Department. GENERAL MAJOR MAINTENANCE FUND The General Major Maintenance Fund supports systematic facility repairs and major maintenance projects funded by an operating transfer from the General Fund. Project lists are developed annually from a long-range facility maintenance schedule, and incorporated into a routine schedule for maintenance and replacement of major facility equipment and infrastructure and permanent capital assets. The Town's street maintenance program consists of scheduled major maintenance of streets. These maintenance projects are funded by an operating transfer from the General Fund. 52 Revenues and Other Sources The anticipated revenues and other resources for FY 08/09 is $105,500 which is a transfer from the General Fund of one-time revenue. Expenditures Included in the FY 08/09 budget in the amount of $90,500 is the replacement of HVAC equipment for the Academy, remodel of the dining hall and office at the Academy, and the renovation of the Courtroom to be a dual purpose room for Court and Council meetings. UTILITY MAJOR MAINTENANCE FUND The Utility Permanent Capital Maintenance Fund consists of systematic water and sewer line repairs and major maintenance projects funded by an operating transfer from the Utility Fund. Projects are included each year from a long-range maintenance schedule which incorporates routine scheduled maintenance and recommended replacement and upgrading of lines and permanent capital assets. Revenues and Other Sources Revenues and other sources for FY 08/09 is a $15,000 transfer from the Utility Fund. The overall goal is to grow the balance of the fund to mitigate undue stress on the Utility Fund at the time of major repairs and maintenance. Expenses There are no expenses proposed for FY 08/09. The fund balance is projected to be $50,000 at year- end. 53 This page is intentionally blank Strategic Plan Key Result Areas Impacted: Inviting Residential and ;orporate Neighborhoods Comprehensive Planning Neighborhood Integrity Community Appearance Quality Development Aesthetic Standards Open Space Preservation We Are Leaders Premier Education Facilities and Programs Well Educated Future Leaders and Thinkers Business Partnerships with Town and Westlake Academy Environment Stewardship High Quality Services Coupled with Financial Stewardship Infrastructure Maintenance & Planning Hospitality Finds A Home in Westlake Citizen Engagement Citizen Communication FUND BALANCE, BEGINNING $ Adopted Amended Adopted $ Actual Budget Budget Budget FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ 3,265,162 $ 3,076,299 $ 3,076,299 $ 2,765,019 RECEIPTS: General Sales Tax 1,465,171 2,000,000 1,677,460 1,664,352 Mixed Beverage Tax 14,066 14,943 13,300 13,300 Franchise Fees 560,311 535,278 610,815 643,780 Permits & fees 900,120 1,472,746 1,259,249 1,610,175 Intergovernmental - 3,000 5,865 5,865 Fines & Forfeits 651,089 665,683 610,772 650,883 Investment Earnings 165,104 165,811 82,811 54,500 Misc Revenue 31,787 19,783 86,523 57,282 Contributions 100,000 - - - Transfers In 43,976 50,000 25,000 297,000 Other Sources 23,000.00 100,000.00 - - TOTAL RECEIPTS $ 3,954,624 $ 5,027,244 $ 4,371,794 $ 4,997,137 DEDUCTIONS: Payroll /Salaries 1,071,490 1,197,259 1,310,115 1,448,633 Payroll Related & Benefits 328,871 419,124 402,738 452,308 Supplies 146,385 192,520 206,492 200,143 Services 1,426,916 1,467,939 1,498,002 1,674,915 Insurance 31,987 32,099 30,872 27,192 Repair & Maintenance 142,404 193,870 186,796 199,470 Rent & Utilities 176,581 256,103 254,945 254,626 Economic Development Incentives 141,197 368,259 468,116 500,211 Capital Outlay 77,532 24,735 34,980 26,934 Transfers Out 1 600,123 212,250 290,017 162,400 TOTAL DEDUCTIONS $ 4,143,487 $ 4,364,158 $ 4,683,075 $ 4,946,832 Excess Revenue Over (Under) Deductions 188,863) 663,086 311,280 50,305 FUND BALANCE, ENDING 3,076,299 3,739,385 2,765,019 2,815,324 Restricted/Designated Funds 558,554 654,185 315,274 563,373 UNDESIGNATED FUND BALANCE, ENDING $ 2,517,745 $ 3,085,200 $ 2,449,745 $ 2,251,950 # Days Operating 274 297 228 192 Restricted/Designated Funds Court Technology 10136 52,067 50,000 69,670 50,150 Court Security 10137 81,118 70,000 94,233 56,550 Court Efficiency 10138 1,185 10,000 2,186 2,021 Trail Escrow 10132 75,000 75,000 - - Glenwyck Farms Trail 10134 149,185 149,185 149,185 149,185 A&S Building Pledges Receivable - 305,467 TSH contribution for A&S Bldg 10135 200,000 300,000 - - Total Restricted/Designated Funds $ 558,554 $ 654,185 $ 315,274 $ 563,373 54 Permits & fees 30%_ Franchise Fees 12% Fines & Inter- Forfeitures Governmental 12% 0% Investment Earnings Misc 1% Revenue 1% l Tra nsfers / In 14% L Mixed Beverage Tax 0% !ral Sales Tax 30% Total Projected Revenues $4,9979137 55 Emergency Services 38% Town —,-' Secretary 3% Planning & Zoning 4% ministrative 25% Municipal Court 8% Public Works 5% Facilties Maintenance 6% Finance 4% Parks & Recreation 2% —information Technology 1% HR/Admin Services 1% Total Projected Expenditures $439463832 Supplies 4% Payroll-// Related & Benefits 9% Services 34% Insurance 1% AM Payroll /Salaries 29% Repair & Maintenance 4% Rent & Utilities 5% ----Economic Development Incentives 10% Transfers Out 3% Capital Outlay 1% Total Projected Expenditures $ 419463832 57 3,750,000 3,500,000 3,250,000 3,000,000 2,750,000 2,500,000 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 FY2004 FY2005 FY2006 FY2007 2008 estimated 2009 proposed 0 General Fund A 4B Fund PTR Fund 1.00% General Fund 0.50% Property Tax Reduction Fund 0.50% 4B Economic Development Fund Note 1: The payment of $649K received in February 2006 was an anomaly. 58 Water Main peak Payment 377 Water Sewer Line GW Farms 100.15205.00 Extensions Line "A" Waterline 11 500.23001.00 Pymt # Payment Date Beginning Balance $57,600 $95,000 $4,895 $1,515 $25033 $161,043 Ending Balance Amount Due Amount Due Amount Due Amount Due Amount Due TOTAL 1 01/15/05 161,043 3,840 23,750 4,895 1,515 2,033 36,033 125,010 2 01/15/06 125,010 3,840 23,750 - - - 27,590 97,420 3 01/15/07 97,420 3,840 23,750 - - 27,590 69,830 4 01/15/08 69,830 3,840 23,750 - - 27,590 42,240 5 01/15/09 42,240 21,120 - 21,120 21,120 6 01/15/10 21,120 21,120 - - - - 21,120 0 TOTAL $ 57,600 $ 95,000 $ 4,895 $ 1,515 $ 2,033 $ 161,043 59 Pymt FY End Beginning 100.46520.11 100.46522.11 Total Ending # Date Balance Principal Interest Pymt Due Balance 1 09/30/02 536,374 2 09/30/03 536,374 3 09/30/04 429,099 4 09/30/05 429,099 5 09/30/06 393,341 6 09/30/07 357,582 7 09/30/08 321,824 - - - 536,374 21,461 85,814 107,275 429,099 - - - 429,099 17,477 18,281 35,758 393,341 16,426 19,333 35,758 357,582 15,314 20,444 35,758 321,824 14,138 21,620 35,758 286,066 8 09/30/09 286,066 12,895 22,863 35,758 250,308 9 09/30/10 250,308 11,581 24,178 35,758 214,549 10 09/30/11 214,549 10,190 25,568 35,758 178,791 11 09/30/12 178,791 8,720 27,038 35,758 143,033 12 09/30/13 143,033 7,166 28,593 35,758 107,275 13 09/30/14 107,275 5,522 30,237 35,758 71,516 14 09/30/15 71,516 3,783 31,975 35,758 35,758 15 09/30/16 35,758 1,944 33,814 35,758 0 TOTAL I I $ 146,616 $ 389,757 $ 536,374 $ - FY 02/03 Payment of $107,274.72 included FY 01/02, FY 02/03, and FY 03/04 ($35,758.24 x 3) '•1 Key Result Areas Affected Comprehensive Planning • Quality Development • Aesthetic Standards ® High Quality Standards Coupled with Financial Stewardship • Infrastructure Maintenance and Planning • Citizen Engagement • Premier Education Facilities and Programs Program Description * The Administration Department coordinates and manages all facets of the Town's operations. The Town Manager, reporting to the Board of Aldermen, serves as the chief executive officer for all Town operations including serving as CEO for Westlake Academy. His duties include implementation of the goals and objectives established by the Board of Aldermen, preparation and submission of an annual municipal budget for Board review and adoption, as well as the implementation and oversight of the adopted budget throughout its effective fiscal year. The Town Manager guides, coordinates, and facilitates recommendations to Board on strategic planning initiatives and policies as well as their implementation. Responsible for attracting, retaining, and developing a municipal/educational work force for delivering top quality municipal and Academy services. 61 Trends ® Residential growth has slowed over the last twelve months, but has been steady. • Commercial growth has continued with construction progressing on Fidelity Phase II which will generate 2,500 new jobs to be housed in the 600,000 sq ft facility that will double Fidelity's Westlake presence. • The general half -cent municipal sales tax has declined, but the half -cent sales tax for property tax reduction is off -setting this reduction. ® Proportionate spending on Town operations and maintenance remains consistent, but needs to be increased to maintain the Town's infrastructure and building assets as they age and receive usage. ® Adequate funding for increasing capital project needs continues to present challenges. Program Broad Goals ® Assure all growth is compliant with Westlake development standards. ® Maintain and develop a competent and competitive municipal/Academy work force. ® Analyze and report new revenue generating ventures as well as analyze and report new ways to partner with public and private sector service providers to control cost and improve services. ® Monitor the municipal and Academy budget and oversee all finances of the Town so as to apprise Board of Aldermen of the Town's financial condition and future needs in a timely manner. ® Assist the Board of Trustees/Aldermen and Head of School with the growth and development of Westlake Academy. Provide support for Board appointed advisory committees and commissions. 2008 Highlights ® Increased services in all areas of operations without recommending an ad valorem property tax. ® Deloitte Announcement -formal designation of Westlake as the site for this $300 million learning and leadership center has been made by the company with construction to begin in 2009. 62 ® Westlake Academy Arts & Sciences Building- General obligation bonds totaling $2.5 million were issued by the Town in April of this year to fund a portion of the cost of this estimated approximate $4.5 million addition to the Academy physical plant. This addition will add much needed science laboratory/class room space for Academy students. ® Automated Residential Solid Waste Collection- this system was converted to a fully automated cart system to improve collection efficiencies which should help contain future costs. ® FM 1938 (Precinct Line Rd) Streetscaping- schematic design is underway for future streetscape improvements to what will be Westlake's major north/south corridor. • Retail Development (Westlake Corners) - Westlake's first stand-alone retail development began at the intersection of SH 170 and US 377 with zoning and site planning and construction planned to begin later this year. 2009 Goals and Objectives r Oversee and facilitate process to update all components of the Town's comprehensive plan. +t Integrating municipal and Academy operations into a cohesive, unified organization. L Improve Academy management and internal support systems. Creation of an overall Town strategic plan with complementary Academy strategic plan linked to outcome measures. Improve citizen outreach and communication. Develop programmatic budget tied to strategic plan, vision, mission, values and key result areas, as well as improve capital improvement budgeting process. Revamp the organization's compensation and performance evaluation system. 63 FY 2008/2009 Operating Budget General Fund Departmental Summary 11 - Administrative Revenues - u Contributions 90% Sales Tax $ 1,465,171 $ 2,000,000 $ 1,677,460 $ 1,664,352 Mixed Beverage 14,066 14,943 13,300 13,300 Franchise Fees 560,311 535,278 610,815 643,780 Permits and Fees 92,283 31,761 2,300 2,300 Investment Earnings 150,030 151,311 74,311 40,000 Misc Income 5,572 1,783 30,143 11,800 Contributions 100,000 - - - Total I $ 2,387,433 $ 2,735,076 $ 2,408,329 $ 2,375,532 Expenditures - u Contributions 90% Payroll $ 38,109 $ 37,342 $ 97,507 $ 165,430 Payroll Related 9,938 10,861 23,943 46,477 Supplies 22,374 17,662 24,883 24,108 Services 313,536 296,244 327,950 338,231 Insurance 26,403 26,406 24,988 21,513 Rent/Utilities 119,035 144,166 152,263 152,264 Capital Outlay 14,687 - 1,021 - Economic Dev. Incentives 1 141,197 1 368,259 468,116 1 500,211 Total $ 685,280 $ 900,940 $ 1,120,673 $ 1,248,234 Proposed Revenues FY 08/09 100% - u Contributions 90% - 80% - id Misc Income 70% - ® Investment Earnings 60% 50% 0 Permits and Fees 40% W Franchise Fees 30% O Mixed Beverage 20% - 10% - NSales Tax 0% 64 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Expenditures FY 08/09 LA Economic Dev. Incentives W Capital Outlay W Rent/Utilities 0Insurance N Services W Supplies 0 Payroll Related H Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 11 - Administrative Town Manager1.00 1.00 1.00 1.00 General Fund 70% 70% 70% 70% Visitor Fund 15% 15% 15% 15% Utility Fund 15% 15% 15% 15% Executive Assistant 1.00 1.00 1.00 1.00 General Fund 70% 70% 70% 70% Visitor Fund 15% 15% 15% 15% Utility Fund 15% 15% 15% 15% Total Employees 2.00 2.00 2.00 2.00 General Fund 70% 70% 70% 70% Visitor Fund 15% 15% 15%1 5% Utility Fund 15% 15% 15% 15% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 General Fund Visitor Fund 65 15% Utility Fund Key Result Areas Affected ® Comprehensive Planning • Neighborhood Integrity ® Community Appearance ® Quality Development ® Aesthetic Standards Program Description The Planning and Development Department is responsible for processing platting and zoning requests and insuring that proposed development will conform to the Town of Westlake's comprehensive plans. This also requires the continuous updating and amending of ordinances to address ever-changing development concerns. The Building and Code Compliance Division is responsible for the administration and enforcement of the Town's adopted building codes and ordinances to assure that development is executed and maintained in compliance with ordinances and approved development plans. Trends ® New home permits are expected to continue to drop. ® Commercial projects to be permitted in FY2008/2009 will include Deloitte's project, at least two stand alone retail projects, and several office remodeling projects. 60 50 40 30 20 10 0 New Home Permits by Year O FY 04/05 Actual ■ FY05/06 Actual O FY06/07 Actual O FY07/08 Projection ■ FY08/09 Projection Percentage of expenditures in comparison to revenues generated Actual Adopted Estimated Projected FY 06/07 FY 07/08 FY 07/08 FY 08/09 Revenue $637,640 $1,256,530 $1,136,824 $1,484,250 Expenditure $161,655 $127,593 $127,354 $218,703 % Comparison 25% 10% 11% 15% Program Broad Goals • Prepare ordinances to amend existing ordinances as necessary to efficiently and logically guide development within the Town of Westlake. • Provide the administrative, technical, and clerical services necessary to professionally regulate the codes and ordinances related to the construction and use of Commercial and Residential structures and properties within the community. • Insure code and ordinance compliance through effective communication, accurate records management, and by taking appropriate action when necessary to obtain compliance. 2008 Highlights • Provided Maximum 10 day turn -around time for SFR plans review submittal to permit issued. • Completed the master filing system within the Building Department records system. • Processed all applications for platting, zoning, and site plans within prescribed deadlines. 2009 Goals and Objectives IN Prepare ordinances for adoption by the Board of Aldermen that will ■ Regulate gas drilling and pipelines ■ Update the comprehensive plans. o Land Use ,art o Master Thoroughfare _ -4 �` a� Al o Open space / Trails Master plan o Water and Sewer Master plan o Streetscape / Landscape Master plan M Update all departmental information on the town web site. Adopt the 2006 Building Codes and recommended amendments. Continue to update and revise the forms used for processing permits and tracking inspections. Establish a set of maps containing the legal description, zoning, and addressing information for all parcels within the Town of Westlake. 67 FY 2008/2009 Operating Budget General Fund Departmental Summary 12 - Planning and Zoning Revenues Adopted Amended Adopted 625,340 $ 1,247,530 $ 1,012,300 $ ctual rr� Budget Budget Budget 115,000 FY 06/07 FY 07/08 FY 07/08 FY 08/09 Revenues Permits and Fees $ 625,340 $ 1,247,530 $ 1,012,300 $ 1,353,750 Development Fees - - 114,724 115,000 Misc Income 12,300 9,000 9,800 9,000 Total $ 637,640 $ 1,256,530 $ 1,136,824 $ 1,477,750 Expenditures Payroll $ 58,263 $ 70,188 $ 71,008 $ 75,600 Payroll Related 18,147 28,143 27,834 26,425 Supplies 7,152 9,300 8,800 8,800 Services 76,181 19,350 18,600 106,850 Maintenance - - 500 500 Insurance 612 612 612 528 Capital 1,300 - - - Total $ 161,655 1 $ 127,593 1 $ 127,354 1 $ 218,703 Proposed Revenues FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% V Misc Income 0 Development Fees 0 Permits and Fees .: Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% * Insurance o Maintenance Li Services o Supplies o Payroll Related IN Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 12 - Planning & Zoning Director 1.00 1.00 1.00 1.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Records Clerk - 0.20 0.20 - General Fund 0% 100% 100% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% New Admin Clerk * - - - - General Fund 0% 0% 0% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 1.00 1.20 1.20 1.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 General Fund Visitor Fund Utility Fund * Approved position upon review of revenue at mid -year .• Key Result Areas Affected ® High Quality Services ® Citizen Engagement ® Citizen Communication Program Description o Perform tasks outlined in the Texas Municipal Law To "VN OF WES TLA and Procedure for General Law Type A Cities as well TOWNS-EC`REAR.IY ��USSTUDENfA SlN as tasks related to the support of the Board of Trustees, Planning and Zoning Commission, the Zoning Board of Adjustments, and the Texas Student Housing Authority, and oversight of the Town's records management program. Trends The trends of the duties and responsibilities of the Town Secretary indicate an increase in the number of activities/functions that impact the workload of this office. Town of Westlake ® Increase in number of meetings covered by this office from year to year. ■ Impact the amount of time required for pre -meeting and post -meeting activities. o Agenda preparation, packet preparation, posting requirements, distribution of meeting notifications, preparation of minutes, legal advertisements, and maintaining the records associated with each meeting as well as facility preparation. Number of Meetings Projected Actuals =M 68 72 94 103 97 100 81 2004-05 2005-06 2006-2007 2007-08 2008-09 70 Texas Student Housing * Number of scholarship applications has leveled off in the past two years. However, In order to effectively manage the duties associated with the scholarship issuance process, TSHA must: ■ Identify processes and tools for accurate date entry and tracking of scholarship offers, rejections, and acceptances. TSHA Housing Scholarship Applications Actual Awarded Projected 910 836 836 111 187 187 I E 0 853 877 168 211 • This office will continue to fine-tune the process as we proceed into the next annual award cycle. • TSHA utilizes temporary clerical assistance to assist with the labor-intensive data entry process. Program Broad Goals • A commitment to leadership that ensures quality public service based on honesty, dependability, integrity, consistency, respectfulness, and fairness. t Maintain accurate records that are available to the public, Boards, and staff through a user-friendly records management program in compliance with state law and our own ordinances. f Conduct elections accurately, efficiently, and in accordance with state law. • Accept and process Texas Student Housing applications in a timely and effective manner. • Prepare notifications of scholarship awards and record responses in a timely and effective manner. i Maintain all permanent Town records in digital form. 71 2008 Highlights 1W * Conducted General and Special elections. * Developed and implemented first phase of a paperless agenda process. • Prepared minutes for approval in a timely manner. 2009 Goals and Objectives * Conduct Records Inventory for the Town's Secretary's Office and establish a records controls schedule for said records. • Continue to evaluate paperless agenda preparation process and seek efficiency solutions. * Attend TMCA Graduate Institute — October 2-3, 2008 (required for State recertification). * Attend TMCA Election Law Update — August 2009 (required for State recertification). 72 FY 2008/2009 Operating Budget General Fund Departmental Summary 13 -Town Secretary revenues SH Salary Reimbursement 18,492 25,828 25,675 27,382 Total $ 18,492 $ 25,828 $ 25,675 $ 27,382 Expenditures Payroll $ 50,865 $ 73,795 $ 74,560 $ 78,233 Payroll Related 13,203 18,432 18,081 18,016 Supplies 2,689 3,100 4,234 3,100 Services 28,395 19,210 28,912 21,517 Capital Outlay - - - - Total $ 95,152 $ 114,537 $ 125,787 $ 120,866 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Revenues FY 08/09 0 TSH Salary Reimbursement 73 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% L. Capital Outlay V Services W Supplies ■ Payroll Related H Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 13 -Town Secretary Town Secretary 1.00 1.00 1.00 General Fund 100% 100% 100% Visitor Fund 100OX-0 0% 0% 0% Utility Fund 0% 0% 0% New Admin Clerk * - - - - General Fund 0% 0% 0% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 1.00 1.00 1.00 1.00 General Fund 100% 100% 100% 100% Visitor Fund 1 0% 0% 0% 0% Utility Fund 1 0% 0% 0% 0% Proposed Personnel Allocation FY 08/09 * Approved position upon review of revenue at mid -year Key Result Areas Affected o Citizen Communication ® High Quality Services Coupled with Financial Stewardship ® Quality Development Program Description ® The Department of Public Safety provides the public safety needs of the Town via a variety of programs and services. The majority of these services are Fire and Emergency Medical Services (EMS) related but also includes fire prevention, public education, and law enforcement activities directed especially at supporting Court and Academy security. ® Many civic organizations also benefit from these types of services. Business organizations have benefited through the training activities and inspection / prevention programs that the Department provides. The Department will continue to provide the most efficient method of delivering the traditional services — Fire Protection and Prevention, Emergency Medical Services, and Law Enforcement — while partnering with other towns and cities, as well as private and public, organizations to expand services. Trends ® The level of activity can be categorized into three main areas: emergency response to Fire, Emergency Medical Services, and other public emergency incidents; training; and fire prevention duties associated with inspections and public education. ® Response trends show a steady growth rate. Responses are approximately 62% Emergency Medical Services based compared to 38% Fire and Rescue based incidents. 500 400 300 200 100 0 2006-07 2007-08 75 Westlake Response Summary Total EMS calls Westlake Response Summary Total Fire calls -- Total Responses -All Types • Personnel continue to take advantage of joint training exercises and contracts which reduces cost and increases familiarity with personnel and equipment of our mutual aid agencies. • Departmental training targets personnel development that enhances our current services and prepares for assumption of contracted services as the budget and demand dictates. • Continuing education combined with increases in Federal and State mandates place additional demands on the Department. PER PERSON -AVERAGE OFFICER DEVELOPMENT FIRE INSPECTOR NATIONAL FIRE ACADEMY HAZARDOUS MATERIALS LAW ENFORCEMENT EMS FIRE TRAINING 138 40 0 92 89 223 186 810 0 100 200 300 400 500 600 700 800 900 Program Broad Goals • Provide safe, efficient, and professional emergency services to the Town. • Continue to improve services and support other Town Departments, i.e. providing security for Court sessions for the Municipal Court and assisting the Warrant Officer as necessary in the performing of that office's duties; Public Works in maintaining and mapping the Town's infrastructure; and assisting the Building Official with code compliance issues. • Plan for the future by training personnel to assume the roles that are currently contracted out as budget allows. • Maintain professionally necessary certifications for personnel. • Increase prevention and public education programs by providing a variety of family oriented safety and prevention classes for residents. • Continue expansion of our business prevention and inspection programs. • Complete the Lieutenant promotional examination process that consisted of a peer panel review, a written examination, a tactical and strategic planning presentation, and an assessment center. 76 2008 Highlights ® The Department implemented an annual "In -Company" Inspection Program for all non-residential occupancies. The Department now does all inspections without contracted services. ® Transitioned from a paper EMS billing service to a computer internet based system. The approval by the Board of Intermedix, Inc. allows the Department to electronically submit EMS patient information in real time and track the billing process via the internet. ® Conducted numerous CPR classes and trained individuals at the Solana Fitness Center in the use of automatic external defibrillators (AED). 0 ® Department personnel completed Fire Inspectors course, Police academy, and Highway Incident Management courses. Along with Public Works and the Building Officials, the Department saw the successful remodeling and occupancy - of the buildings in Solana — Campus Drive location by First American Mortgage Corporation, remodeling of a portion of } the Daimler Chrysler building bringing that facility to capacity, and the remodeling of all guest rooms at the Marriott Hotel. Completed the transition from the Baylor Medical Control System to the South Denton County Medical Control System. This system is still under the direction of Dr. John Ansohn and is closely associated with Baylor Regional Medical Center Grapevine and the other member cities of the old system. ® The re -banding process, while not complete due to adjoining systems and the State wide inoperability initiative, is 80% done on the local level. 2009 Goals and Objectives ® Continue monitoring the revenue enhancement streams to fund public safety needs and activities. ® Continue personnel training necessary for expansion of services emphasizing the Town's needs, the public's demands, and the flexibility afforded the Department. ® Complete the radio re -banding process. ® Complete the current round of the FEMA and state grants by applying for apparatus, specialty rescue equipment and training funds. ® Continue training staff (Academy and Town) in the use of CPR and AEDs (Automatic External Defibrillators). 77 Continue NIMS (National Incident Management System) training for public officials and staff. Continue performing emergency drills for local business as they relate to fire, severe weather, and criminal activities. Continue the International Code update process by proposing locally amended codes based on NCTCOG suggested amendments and their adoption - including a review and adoption where appropriate of a new fee structure. Complete the red light camera program. Cameras are to be installed by Traffipax at the JAN - intersections of Hwy 170 and Hwy 377, and Hwy 114 and Trophy Lake. Continue required training for all personnel in all disciplines of certification. Enhance our public education and prevention _ programs to include all members of the family. _ Target subjects include home safety principles, health and medical awareness programs such as the use of alcohol and tobacco by school age children, crime prevention tips, weather related safety programs, CPR and AED training, baby sitting safety tips, and general operational and maintenance of home sprinkler systems. Place in service a grass/fire attack apparatus that will utilize the CAFS unit received from a FEMA grant and will be capable of fighting grass/brush fires, as well as fires in parking garages. IN FY 2008/2009 Operating Budget General Fund Departmental Summary 14 - Fire/Emergency Services Revenues Permits and Fees $ 163,992 $ 177,680 $ 113,430 647,613 $ IntergovernmentaI - 3,000 5,865Fines F$712g3,450 183,950 and Forfeits 1,393 4,500 1,174 Supplies Total $ 165,385 $ 185,180 $ 120,469 $ 130,515 Expenditures Payroll $ 603,023 $ 647,613 $ 660,681 $ 685,786 Payroll Related 183,950 221,563 195,209 221,307 Supplies 60,160 67,288 76,696 78,390 Services 784,382 804,090 783,508 835,117 Maintenance 160 370 605 16,470 Insurance 4,055 4,165 4,090 3,962 Rent/Utilities 15,793 22,630 16,975 16,655 Capital Outlay 1,810 16,400 18,965 17,102 Total $ 1,653,332 $ 1,784,119 $ 1,756,729 $ 1,874,789 Proposed Revenues FY 08/09 100% 90% W Fines and Forfeits 80% 70% 60% 50% 0 Intergovernmental 40% 30% 20% o Permits and Fees 10% 0% 79 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% U Capital Outlay d Rent/Utilities LJ Insurance d Maintenance o Services W Supplies • Payroll Related ® Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 14 - Fire/Emergency Services EMS Coordinator IF 1.00 Adopt Amended 14LBudget Adopted General Fund Actual Budge Budget 100% Visitor Fund FY 06/07 FY 07/08 FY 07/08 FY 08/09 EMS Coordinator IF 1.00 1.00 1.00 1.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Firefighter Paramedics 9.00 9.00 9.00 9.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 10.00 10.00 10.00 10.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 1 0% 0% 0% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 General Fund Visitor Fund Utility Fund 0 Key Result Areas Affected + High Quality Services Coupled with Financial Stewardship + Citizen Engagement + Citizen Communication Program Description + The Municipal Court performs the duties necessary to support municipal judicial functions, assist the public and manage court operations. The program will uphold the integrity of the Court and build public trust by providing unbiased quality service and accurate information delivered in an efficient and professional manner. Trends + Processes consistent work load of approximately 9,000 new case filings annually. Do not anticipate any significant change of the number/type of citations filed as compared to last fiscal year. + Increase in the number of defendant's requesting payment plans. The Judge and Staff are reviewing payment plan procedures to offer a reasonable payment schedule without requiring multiple appearances. Need to establish expanded payment plan for defendants with warrants has become apparent. Payment plan will also be expanded and Marshal will spend more time in field. 9. New jury software and the streamlined processes used to summons potential jurors has eliminated backlog of jury trial N%., - requests. Online payment system has been very successful — an average of 5 defendants paying their citations through the internet each day. 121 12000 10000 8000 6000 4000 2000 0 3000 2500 2000 1500 1000 500 0 Police Initiated Case Filings FY 05/06 FY 06/07 FY 07/08 FY 08/09 "Expired" (Dismissable) Type Violations FY 05/06 FY 06/07 FY 07/08 FY 08/09 5000 4000 3000 2000 1000 0 10500 10000 9500 9000 8500 8000 Speeding Violations FY 05/06 FY 06/07 FY 07/08 FY 08/09 Overall number of filed violations FY 05/06 FY 06/07 FY 07/08 FY 08/09 Staff continues to prioritize warrant clearance efforts - implementation of the driver's license suspension module has been an effective tool in assisting defendants with the closure of their delinquent offenses. 2000 1500 1000 500 0 Number of cleared arrest warrants FY 05/06 FY 06/07 FY 07/08 FY 08/09 200000 150000 100000 50000 0 0 Collected fine and warrant revenue FY 05/06 FY 06/07 FY 07/08 FY 08/09 Program Broad Goals + Court staff will provide prompt assistance in a courteous manner. This includes telephone service, mail service and customers who appear in person. * Court staff will work to enter tickets in a timely manner and complete daily court deposits. * The Court will conduct hearings and trials in a professional and dignified manner in order to provide an impartial setting for cases to be adjudicated by the Municipal Court Judge. • Court staff will continue to work in conjunction with the collection agency and other involved agencies to reduce the number of outstanding arrest warrants. The collection efforts will be monitored and monthly updates reported to Town Management. • Court staff will work in partnership with the Texas Department of Public Safety to implement the driver's license suspension program for defendants who have outstanding or delinquent fines in the Court. 2008 Highlights � Finished the interface with TX DPS for Omni DL renewal suspension program. * Provided consistent clearance and processing of outstanding arrest warrants. � Fully implemented changes from previous legislative session and corresponding changes in dismissal fees and court costs. * Worked in conjunction with Keller and Southlake Court Staff to transfer cash bond processing for outside arresting agencies to centralized receipt location in the Keller Municipal Court. 2009 Goals and Objectives * Further develop the "Rules of the Court" issued by the Municipal Court Judge and utilize as basis for policy and procedures manual for front office. * Evaluate cost effectiveness of document storage solutions vs. imaging archived case files. Develop and implement standard operating procedures (SOP) for the Marshal position with attention on the use of force and warrant service to ensure safety and compliance with state laws. * Prepare case files for destruction that have reached the end of the retention period. W FY 2008/2009 Operating Budget General Fund Departmental Summary 15 - Municipal Court Revenues Actual FFY06 /07 Adopted Budget Amended Adopted Budget Budget FY 07/08 Permits and Fees $ FY 07/08 FY 08/09 Revenues Permits and Fees $ 6,336 $ 6,775 $ 6,775 $ 6,775 Fines and Forfeitures 649,696 661,183 609,598 649,683 Investment Earnings 15,074 14,500 8,500 14,500 Total $ 671,106 $ 682,458 $ 624,873 $ 670,958 Expenditures Payroll $ 169,830 $ 184,470 $ 183,281 $ 194,107 Payroll Related 52,918 64,185 63,077 63,603 Supplies 10,072 13,170 13,185 10,820 Services 90,745 107,445 104,045 115,050 Maintenance - - - 3,000 Insurance 290 290 556 537 Rent/Utilities 3,255 3,357 3,357 3,357 Debt Service 8,335 8,331 8,332 Capital Outlay 39,640 - - 1,500 Total $ 366,751 $ 381,252 $ 375,832 $ 400,306 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Revenues FY 08/09 U Investment Earnings N Fines and Forfeitures O Permits and Fees 84 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% LJ Capital Outlay W Debt Service LJ Rent/Utilities Wnsurance IJ Maintenance o Services • Supplies • Payroll Related o Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 15 - Municipal Court Court Administrator NEW.00 .00 ININIF.00 1.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Warrant Officer 1.00 1.00 1.00 1.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Deputy Clerks * 2.00 2.00 2.00 2.00 General Fund 100% 100% 100% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 4.00 4.00 4.00 4.00 General Fund 150% 150% 150% 100% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 0% General Fund Visitor Fund Utility Fund * One additional approved position upon review of revenue at mid -year 85 Program DescripTI ® Aesthetic Standards ® Quality Development ® Environmental Stewardship • High Quality Services Coupled with Financial Stewardship ® Infrastructure Maintenance and Planning Program Description 0 The Public Works Department is responsible for: the operation, maintenance, repair, and installation of the water distribution, waste water collection, and duct bank systems; maintaining public records and regulatory requirements; inspecting and maintaining the Town's traffic signs, signals, roadway markings, and street pavement and storm drainage. Public Works also assist other departments, the Academy, and volunteer groups as needed: ® Setting up for community events _ ® Providing traffic control devices for DPS use ® Supervision of community service workers ® Provide back-up coordinating/inspecting work for facility maintenance Trends ® The Town's population has continued to increase over the last several years. ® This rise has also generated a significant increase in the demand for Public Works staff's time. ® The increasing population is accustomed to receiving basic public services that we are minimally equipped to handle. • Drainage complaints have exponentially increased over the last fiscal year as subdivisions are beginning to be fully developed and residents begin to experience problems. ® The Town's water revenue fund continues to grow as the number of users and consumption increases. ® As the amount of water purchased from Fort Worth increases in correlation with the population, we have managed to mitigate some of the Peak Charges by continuously monitoring water storage capacities. Water and Sewer Revenues $2,000,000 $1,500,000 $1,000,000 $500,00!!0 $ V FY FY FY FY FY FY 03/04 04/0505/06 06/0707/08 08/09 City Of Fort WOTLh Pea k Pay men is � w&00 SJ sa'aD l �Zoo,000 51S0,UU0 5190,000 S50,000 SOA., F4' FV FV FY FY FY HM 04r05 05/Ob 06/01 07' o$ 08109 City of Fart Worth Water Purchases 5800,000 y6M000 S4H2O,O4 52,04),000 50 uiiii FY FY FY fY FY FY 03/04 04105 05106 1*/0? 0+/00 4M4 After hours emergencies 30 20 10 0 FY FY FY FY FY FY 03/04 04/05 05/06 06/07 07/08 08/09 Water Purchased from City of Fort Worth (MG) 600.00 400.00 200.00 0.00 r FY FY FY FY FY FY 03/04 04/05 05/06 06/07 07/08 08/09 87 Program Broad Goals a To efficiently and effectively provide a safe and reliable solid waste collection, potable water distribution, wastewater collection, and duct bank system for the Town's customers. Maintain Water and Wastewater system in a fiscal and responsible manner in order to maintain a 90 day fund balance. *Continue preventive maintenance schedules for water, wastewater and streets facilities, to minimize emergency service disruptions and repair costs. o To promote water conservation efforts through better irrigation management practices; thereby, saving water customers money. o Maintain streets and shoulders in safe travelable condition. ® Maintain accurate inventory of streets and their current condition. ® Manage all Public Works capital projects to be on schedule and within budget 2008 Accomplishments ® Completed N-1 sewer line Engineering Analysis as a requirement of the N-1 sewer line transfer to TRA. ® Installed new flow monitoring/control equipment at the Pump Station to reduce operation failures and after hours call outs. ® Inspected and cleaned Ground Storage Tank. ® Obtained new aerial photograph for conference room and Board Chambers. • Conducted utility rate study in conjunction with Finance Department. • Assumed residential solid waste collection billing from Allied Waste. ® Implemented automated solid waste collection. ® Acquired StreetScape consultant for FM 1938 project. ® Completed all state water quality testing. ® Obtained new meter reading equipment providing more efficient and accurate water billing MUTHI RI 2009 Goals and Objectives Continue to work with StreetScape consultant for FM 1938 project • Update Town's Master Plans • Complete N-1 sewer line transfer to TRA • Secure an Inter -Local Agreement for a public works maintenance agreement for day to day operations. • Improve drainage infrastructure in Stagecoach Hills. o Integrate Fidelity water meters and sanitary sewer lift station into the Town's SCADA system. Secure an Inter -Local Agreement for a public works maintenance agreement for day to day h6whim.. operations. Continue Solid Waste Collection initiatives that focus on recycling and improved efficiencies of services :• FY 2008/2009 Operating Budget General Fund Departmental Summary 16 - Public Works Expenditures Payroll $ 13,886 $ 22,010 $ 23,827 $ 26,520 Payroll Related 4,691 9,654 9,409 9,552 Supplies 1,759 6,500 8,088 7,790 Services 3,584 27,200 77,290 77,050 Maintenance 20,466 26,500 27,000 26,500 Insurance 626 626 626 652 Rent/Utilities 30,622 73,600 73,600 73,600 Capital Outlay 120 1 - 4,442 1 - Total $ 75,755 1 $ 166,090 $ 224,282 1 $ 221,664 Proposed Expenditures FY 08/09 .0 FY 2008/2009 Operating Budget Personnel Summary and Allocation 16 - Public Works Director 00 1.00 1.00 1.00 General Fund 25% 25% 25% 25% Visitor Fund 0% 0% 0% 0% Utility Fund 75% 75% 75% 75% Technician - 0.50 0.50 0.50 General Fund 0% 50% 50% 50% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 50% 50% 50% Total Employees 1.00 1.50 1.50 1.50 General Fund 25.0% 37.5% 37.5% 37.5% Visitor Fund 0.0%1 0.0910 0.0%1 0.09/c Utility Fund 75.0%1 62.5%1 62.5%1 62.5% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 0% 63% General Fund Visitor Fund Utility Fund 91 Key Result Areas Affected • Premier Education Facilities and Programs ® High Quality Services Coupled with Financial Stewardship ® Infrastructure Maintenance and Planning Program Description • The Town of Westlake will plan for and provide facilities to enhance present and future community and educational programs and endeavors. • Long-range plans should include: maintenance, renovation, construction of facilities as related to civic use and educational programs — efficient facilities meeting program needs. ® Westlake Civic Campus facilities should be available to the community. The Town should develop cooperative projects with the community and agencies. Trends ® As the civic campus ages, maintenance costs of exterior, landscaping and interior systems will continue to increase. • For the FY05/06 school year 700 sq. ft. was remodeled to accommodate the addition of the 8th grade. The court office, Town secretary and Texas Student Housing departments were relocated to the Solana Business Park and 4,000 sq. ft. were remodeled into classrooms. ® A 45 space, temporary parking lot was constructed on the west side of the gym as a pick up area for the 7th, 8th and 9th grades in FY 05/06 For the FY06/07 school year 3,500 sq. ft. was remodeled to accommodate the addition of the 10th - 12th grades. ® A proposed performing Art and Science Center to accommodate a black box, art and science centers has been suggested and is being designed. • The increase in academy sport programs has resulted in additional multi use field construction. 92 ® All town employees relocated to the Solana business park in April 07 The temporary fire station 12' X 52' mobile home was replaced with a new 14' X 60" in December 06. The facility director is working to complete 40 hours of basic water training in order for the town to have two certified water operators as required by the state to receive a Class D licenses. The student and staff population of the academy grows each year with the addition of one grade level until the 12th grade. This increases the demand for maintenance on the civic campus. ® $2.5 million bonds passed in November 2007 to construct a 13,700 sf. ft. Arts & Sciences Center located on the civic campus. The bid packages for the project went out in August 2008. Construction is scheduled to start in September 2008. Program Broad Goals ® The Town has an effective long-range plan for facilities development and maintenance. ® The facilities planning process will be communicated in a clear and concise format, including input from residents, academy and Town staff. • Town facilities will be operated in a cost efficient and energy efficient manner. 2008 Highlights ® Completed drawing and bids for the performing arts and sciences center. • Purchased an electronic work order system for maintaining requests from staff and preventive maintenance for Town facility. Program is schedule to be implemented in October 2008. • Coordinate design and small remodeling project for the dining hall and Head of school office space. ® Improve drainage and sidewalks on the civic campus. ® Performed all PM and repairs for facility and ground within the 07-08 budget. 93 2009 Goals and Objectives ® Facilities Plan will be developed, including an annual maintenance, periodic maintenance, and facilities development plan. • A long-range plan will be developed for future facilities needs that is based on census data and local and regional community development plans. ® Facility and Recreation Advisory Group will be created to provide input and to critique the long- range plan. • Develop and implement a Facilities Information Communication Plan. • An energy efficiency plan will be developed and implemented. • Town will increase its awareness and improve its actions regarding energy and resource conservation and recycling. ® Ensured the Christmas Lighting, Arbor Day and Decoration Day have a quality setting ® Maintain a quarterly and monthly maintenance agreement for the Academy, Solana, Fire Station and Municipal Campus for the following systems: ■ Cleaning service — Daily and semi-annual, window, carpet and tile floors ■ HVAC and heating —Quarterly ■ Electrical systems — Quarterly ■ Security systems — Semi-annual ■ Fire sprinkler and alarm systems — Annual ■ Maintain the campus landscaping: ■ 36 mowings, fertilizations, weed control ® Athletic Field Maintenance: ■ Athletic Field - 2 field mowings around } athletic field ■ Athletic Field — 36 mowings by staff • Parchman house Maintenance ® Cemetery Maintenance ® Fire station Maintenance • Serve as back-up for the public works department 94 FY 2008/2009 Operating Budget General Fund Departmental Summary 17 - Facilites Maintenance Expenditures 90% W Capital Outlay 80% Payroll $ 21,703 $ 28,604 $ 27,480 $ 36,895 Payroll Related 8,466 13,569 13,017 13,709 Supplies 30,279 49,600 42,920 43,000 Services 44,283 80,100 65,725 78,700 Maintenance 96,300 126,000 105,630 117,500 Capital Outlay - I - - - Total $ 201,031 1 $ 297,873 $ 254,772 $ 289,804 Proposed Expenditures FY 08/09 100% 90% W Capital Outlay 80% 0 Maintenance 70% 60% ■ Services 50% 40% o Supplies 30% 20% ■ Payroll Related 10% 0% O Payroll 95 FY 2008/2009 Operating Budget Personnel Summary and Allocation 17 - Facilities Maintenance Director 1.00 1.00 1.00 REW-L-00 General Fund 75.0% 75.0% 75.0% 75.0% Visitor Fund 25.0% 25.0% 25.0% 25.0% Utility Fund 0.0% 0.0% 0.0% 0.0% Technician - 0.25 0.25 0.25 General Fund 0% 50% 50% 50% Visitor Fund 0% 50% 50% 50% Utility Fund 0% 0% 0% 0% New Admin Clerk * - - - - General Fund 0% 0% 0% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 1.00 1.25 1.25 1.25 General Fund 75.0%1 62.5% 62.5% 62.5% Visitor Fund 25.0%1 37.5%1 37.5%1 37.5% Utility Fund 0.0%1 0.0%1 0.0%1 0.0% 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Proposed Personnel Allocation FY 08/09 V I�, General Fund Visitor Fund Utility Fund * Approved position upon review of revenue at mid -year 91 Key Result Areas Affected Premier Education Facilities and Programs Well Educated Future Leaders and Thinkers High Quality Services Coupled with Financial Stewardship Infrastructure Maintenance and Planning Program Description The Finance Department is responsible for collecting, recording, summarizing, and reporting the results of all financial transactions of the following entities in a _ timely manner and in accordance with generally accepted - — - accounting principles, ensuring compliance with applicable state and federal statutes, bond covenants and grant contracts by reviewing financial data and reporting such in a timely manner. .� Town of Westlake 1 e :., Westlake Academy Westlake Academy Foundation The Department works with the Education Service Center (Region XI) to maintain the Westlake Academy Charter School financial system and fiscal controls, i.e. general ledger, payroll, accounts payable, accounts receivable and cash management. In conjunction with maintaining financial records, the Department is responsible for the preparation for and coordination of the annual external financial audits for the Town of Westlake, Westlake Academy and Westlake Academy Foundation. The Utility Billing section of the Finance Department provides for the accurate and timely billing of the Town's water and sewer services, assists customers in applying for service, transferring service or discontinuing utility service, and responds to customer inquiries and disputes regarding their utility account. 97 Trends • Finance and accounting are core functions that often expand in direct correlation with the organization that continues to expand • Increases in number of Academy employees, the number of utility customers, and the number of necessary fiduciary processes over past five years s Plans for continued expansion at Westlake Academy combined with residential population increases and economic development will continue to challenge the Finance Department's ability to maintain the highest levels of service and quality with existing staffing. ® The expansion of the Westlake Academy facility (Arts & Sciences Center) will require additional accounting processes during its construction period, i.e. monthly distributions to multiple contracting firms as well as accounting for retainage payments Total Accounts Payable Invoices Processed by Year Includes Town, Westlake Academy, Westlake Academy Foundation 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 A FY 03/04 actual LJ FY 06/07 actual 3.379 3,392 3,800jj 3,489 r Li FY 04/05 actual FY 07/08 projected — FY 05/06 actual FY 08/09 PROPOSED Utility Billing Payments Average Number Processed per Year 6,000 5,000 3,900 4,000 3,528 3,000 2,448 2,000 1,000 11-4 FY 03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 avg 204 avg 294 avg 325 avg 360 project 415 proposed per month per month per month per month per month 445 per month 4.9R0 5,340 Program Broad Goals • Provide Board of Aldermen, management, departments and citizens with accurate and timely financial records and reports in the most efficient manner. • Maintain the accounting and financial reporting systems in conformance with all state and federal laws, Generally Accepted Accounting Principles (GAAP), standards of the Governmental Accounting Standards Board (GASB) and the Government Finance Officers Association (GFOA). • Provide sound and conservative fiscal management in compliance with all state and federal regulations. • Adhere to policies established by the Public Funds Investment Act, applicable bond covenants, and the Town's adopted investment policy and ensure proper collateralization of bank deposits. • Achieve efficient and effective collection of delinquent accounts regarding Utility billing. • • r 2008 Highlights 0 a a 0 Prepared, submitted and received the Town's first Distinguished Budget Presentation Award from Government Finance Officers Association for the FY 2007/2008. Prepared and submitted the Town's first submission of the Comprehensive Annual Financial Report for Government Finance Officers Association recognition for FY 2006/2007. Created and obtained Board approval of formal Fiscal & Budgetary Policies. Received an unqualified audit opinion on the 2007 Comprehensive Annual Financial Report. LL 2009 Goals and Objectives • Prepare and submit FY 2008/2009 budget for a Distinguished Budget Presentation Award from Government Finance Officers Association. ® Prepare and submit the Comprehensive Annual Financial Report (CAFR) for Government Finance Officers Association recognition for FY 2007/2008. ® Receive an unqualified audit opinion on the 2008 CAFR. 100 FY 2008/2009 Operating Budget General Fund Departmental Summary 18 - Finance Expenditures Payroll $ 112,600 $ 130,461 $ 142,485 $ 109,117 Payroll Related 29,094 39,148 40,955 29,026 Supplies 2,585 3,900 5,095 4,235 Services 28,698 36,800 42,129 28,400 Capital Outlay 19,975 1 - - - Total $ 192,952 1 $ 210,309 $ 230,663 $ 170,778 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% o% Proposed Expenditures FY 08/09 101 W Capital Outlay W Services kJ Supplies 9 Payroll Related ® Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 18 - Finance Director 1.00 1.00 1.00 General Fund 70% 70% 70% Visitor Fund j770% 15% 15% 15% Utility Fund 15% 15% 15% Human Resources 1.00 1.00 1.00 - General Fund 60% 60% 60% 0% Visitor Fund 25% 25% 25% 0% Utility Fund 15% 15% 15% 0% Assistant 1.00 1.00 1.00 1.00 General Fund 50% 50% 50% 50% Visitor Fund 15% 15% 15% 15% Utility Fund 35% 35% 35% 35% Clerk - 1.00 1.00 1.00 General Fund 0% 60% 60% 60% Visitor Fund 0% 20% 20% 20% Utility Fund 0% 20% 20% 20% Total Employees 3.00 4.00 4.00 3.00 General Fund 60% 60% 60% 60% Visitor Fund 18% 19% 19% 17% Utility Fund 1 22% 21% 21% 23% 100% 80% 60% 40% 20% 0% Proposed Personnel Allocation FY 08/09 60% 23% 17% General Fund Visitor Fund Utility Fund 102 Key Result Areas Affected • Comprehensive Planning • Community Appearance • Quality Development • Open Space Presentation • Environmental Stewardship • High Quality Services Coupled with Financial Stewardship • Citizen Engagement Program Description G The Park and Recreation Department will maintain a 13.5 acre park located in the Glenwyck farms sub -division. The park has 3 ponds with water features, stage and a paved trail. 'ti The Terra Bella development will add 20 acres of open space and will connect with the Solana trails to the Glenwyck trails to the west in 2008. The trees along roadways and cemetery will be maintained to ensure the safety of the drivers and pedestrians. Westlake Academy and the park, located in Glenwyck Farms, will provide the facilities and space for recreation use to the public. The park at Glenwyck Farms and the Academy campus will host Arbor Days, Bandana Bonanza, Christmas Lighting and Decoration Day. Trends The completion of the recreational center and the population growth of The Town of Westlake have increased the need for a park and trail system and services to be offered to citizens of Westlake for the first time. With the build out of Glenwyck Farms sub -division there is an increase in use of the park open space and road ways. 103 VA G G Conditions of landscaping on town owned properties have been impacted as a result of the drought in 05-06 and flooding in 06-07. This will place more pressure on budgets for replacement trees, sod, removal of dead trees, etc. ® There has been a decline in interest in the Tree City USA committee for the past two years. In an attempt to generate more involvement from the community, new goals and responsibilities will - be created to include the cemetery, Arbor Days event planning and open space and trails recommendations. ® The Terra Bella development located on the east end of Kirkwood Creek and Sam School Rd. will include 20 acres of open space. Walking trails will be completed in 2008. The I.O.O.F. Cemetery grounds have been surveyed, scanned and remapped. In the fall of 2008 a marketing plan and policies will be established. Program Broad Goals • Provide park and common open spaces adequate in size and condition to serve citizens. • Use the park system to preserve and protect environmentally significant areas for public enjoyment and education. • Maintain, secure and manage parks in a manner which encourages their appropriate use. • Maximize public/private partnerships to assist in all aspects of parks and recreation planning and development. 2008 Highlights Cemetery survey, scan and input of records into the data base. Take over the maintenances of Dove Road median from HOA. Developed the tree farm on the civic campus. Connected Glenwyck Farms trails to the east with Terra Bella development. 104 2009 Goals and Objectives 11 EMW Update the Town's Master Plan to include connecting the entire park system with a combination of pocket parks, neighborhood parks, community parks and regional connections. Work with Planning and Development to coordinate parkland acquisition with long range growth and development planning. Enhance and expand the linear park system along creeks and roadway. Limit usage within environmentally sensitive areas to passive recreation. Continue updating existing parks & facilities standards and guidelines. Recognize that parks and recreation needs evolve over time with changes in the population. Design parks and open spaces that are durable, easily maintained and are not detrimental to surrounding uses. * Utilize partnerships, wherever appropriate, to help develop, manage and maintain parks and recreation facilities. • Seek new ways to involve communities and organizations in public finance strategies to accelerate park system improvements. • Encourage sharing of parks and facilities owned by the town with private organizations. 105 FY 2008/2009 Operating Budget General Fund Departmental Summary 19 - Parks & Recreation revenues ilenwyck Farms HOA $ 26,085 $ 18,000 $ 29,225 $ 18,000 Total $ 26,085 $ 18,000 $ 29,225 $ 18,000 Expenditures Payroll $ 21,703 $ 28,604 $ 29,285 $ 32,095 Payroll Related 8,466 13,569 11,213 13,145 Supplies 4,985 10,000 9,462 9,000 Services 18,053 25,500 20,343 21,300 Maintenance 25,477 41,000 53,061 35,500 Rent/Utilities 7,875 12,350 8,750 8,750 Capital Outlay - - 2,221 - Total $ 86,559 $ 131,023 $ 134,335 $ 119,790 Proposed Revenues FY 08/09 100% 90% 80% 70% 60% 50% 0 Glenwyck Farms HOA 40% 30% 20% 10% 0% 106 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% LJ Capital Outlay 0 Rent/Utilities 11 Maintenance o Services o Supplies o Payroll Related LJ Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 19 - Parks and Recreation Director ,.O, MW1.00 1.00 General Fund 75.0% 75.0% 75.0% 75.0% Visitor Fund 25.0% 25.0% 25.0% 25.0% Utility Fund 0.0% 0.0% 0.0% 0.0% Technician - 0.25 0.25 0.25 General Fund 0% 50% 50% 50% Visitor Fund 0% 50% 50% 50% Utility Fund 0% 0% 0% 0% New Admin Clerk* - - - - General Fund 0% 0% 0% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 0.75 1.25 1.25 1.25 General Fundl 75.0% 62.5% 62.5% 62.5% Visitor Fund 1 25.0% 37.5% 37.5% 37.5% Utility Fundi 0.0% 0.0% 0.0% 0.0% 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Proposed Personnel Allocation FY 08/09 General Fund Visitor Fund Utility Fund * Approved position upon review of revenue at mid -year 107 Key Result Areas Affected ® High Quality Services Coupled with Financial Stewardship Program Description Information Technology works with the Town Manager to establish IT policy, evaluate and recommend technology solutions for specific departmental needs and provide administrative support to established servers, systems, and staff. Trends ® Prepare ordinances to amend existing ordinances as necessary to efficiently and logically guide development within the Town of Westlake. ® Network and systems security require ongoing analysis and adjustments to meet emerging threats. • Aging equipment must be updated to remain reliable and secure. ® Data communication links between locations require evaluation of alternate information storage and backup process to insure acceptable performance. Program Broad Goals W ® Provide support to all Town departments through the design, deployment, and maintenance of systems to support departmental objectives. • Provide systems administration by maintaining IT systems with prudent provisions for security, data archiving, and disaster recovery. 108 2008 Highlights' M ® Deployed improved data backup measures for server data and workstation disaster recovery. o Upgraded workstations with new hardware and operating systems. o Reduced costs by utilizing internal staff for various technical projects. 2009 Goals and Objectives ® Perform on-going security assessments to validate the efficacy of existing measures and to evaluate and deploy solutions for new threats. • Identify and implement additional information technologies to improve the efficiency and/or security of business processes. ® Continue to reduce costs through the successful transfer of IT management and support services to a new third -party vendor. ® Deploy additional data backup measures for server data and workstation disaster recovery. 109 FY 2008/2009 Operating Budget General Fund Departmental Summary 20 - Information Technology Expenditure s V IF Supplies $ 4,330 $ 12,000 $ 13,130 $ 10,000 Services 39,059 52,000 29,500 46,500 Total $ 43,389 $ 64,000 $ 42,630 $ 56,500 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Expenditures FY 08/09 110 ■ Services ■ Supplies Ado, Amended Adopted "06/07 Budget Budget Budget FY 07/08 FY 07/08IL FY 08/09 Expenditure s V IF Supplies $ 4,330 $ 12,000 $ 13,130 $ 10,000 Services 39,059 52,000 29,500 46,500 Total $ 43,389 $ 64,000 $ 42,630 $ 56,500 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Expenditures FY 08/09 110 ■ Services ■ Supplies Key Result Areas Affected • Premier Education Facilities and Programs • Well Educated Future Leaders and Thinkers • High Quality Services Coupled with Financial Stewardship Program Description 0 The HR/Administrative Services Department provides a diverse array of services to internal and external customers, as well as providing support to the organization's general operations. These services include all HR functions, Payroll, Benefit Administration, Risk Management, and Information Technology. Support is offered in partnership with other departments for bidding & purchasing, strategic planning, and finance. The department continues to successfully provide services for Westlake Academy in addition to the Town of Westlake. The Department also provides support services as needed to all other Town Departments, in addition to the Westlake Academy Foundation, Westlake Historical Museum, and the Westlake Public Art Committee. Trends ® Continued growth of Town and Academy staff, and corresponding administrative service demands. ® Exposure to dramatic benefit cost increases. • Expanded responsibilities in the areas of IT, risk management, and benefit administration. • New federal and state laws affecting HR practices create ongoing compliance challenges. 111 Program Broad Goals • Continually monitor the external business environment for trends and issues related to compensation and benefits and make recommendations to maintain competitive and motivated work force. ® Administer guidance and support for policy compliance to all Departments. • Research, recommend and implement strategic organizational improvements to the Town Manager. • Effectively implement policies, procedures, and guidelines to ensure a high level of understanding and acceptance. ® Insure compliance with pertinent laws and best practices through continual and proactive monitoring. 2008 Highlights • Completed annual insurance bids on all Town and Academy insurance policies. ® Completed annual salary and benefit surveys for the Town and Academy. • Completed SPHR (Senior Professional in HR) certification. • Provided updates to the Town's employee manual with additional and amended policies. ® Processed all payroll, benefit transactions, and regulatory filings in a timely manner. 2009 Goals and Objectives • Complete a comprehensive compensation plan based on the organization's stated values and objectives. — ® Research, develop, and implement a new employee performance evaluation system. • Review and modify job descriptions for each position where appropriate, based on the actual unique work processes that exist in the Town of Westlake. ® Develop and implement a five-year technology plan. 112 FY 2008/2009 Operating Budget General Fund Departmental Summary 21 - Human Resources/Admininstrative Services Expenditures Payroll $ $ - $ $ 44,850 Payroll Related - 11,048 Supplies - 900 Services - 6,200 Total $ - $ - $ - $ 62,998 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 113 0 Services V Supplies ■ Payroll Related ■ Payroll FY 2008/2009 Operating Budget Personnel Summary and Allocation 21 - Human Resources/Administrative Services Director A1.0, W 1.00 0 0 L:.00 General Fund 100% 100% 100% 60% Visitor Fund 0% 0% 0% 25% Utility Fund 0% 0% 0% 15% New Admin Clerk * - - - - General Fund 0% 0% 0% 0% Visitor Fund 0% 0% 0% 0% Utility Fund 0% 0% 0% 0% Total Employees 1.00 1.00 1.00 1.00 General Fund 100% 100% 100% 60% Visitor Fund 1 0% 0% 0%1 25% Utility Fund 1 0% 0% 0%1 15% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Proposed Personnel Allocation FY 08/09 General Fund Visitor Fund Utility Fund * Approved position upon review of revenue at mid -year 114 � Mr Strategic Plan Key Result Areas Impacted: Inviting Residential and Corporate Neighborhoods Comprehensive Planning Aesthetic Standards We Are Leaders Premier Education Facilities and Programs High Quality Services Coupled with Financial Stewardship Hospitality Finds A Home in Westlake Historic Preservation Tourism Development Arts and Culture FUND BALANCE, BEGINNING $ 869,694 Adopted Amended Adopted Historical Preservation Society Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ 869,694 $ 1,183,022 $ 1,183,022]F$ 1,309,177 Historical Preservation Society $ 20,000 $ - RECEIPTS: 5,000 5,000 Hotel Occupancy Tax 458,471 450,000 430,000 450,000 Investment Earnings 49,746 48,000 35,000 28,000 Misc Revenues 32,101 13,000 22,525 51,000 TOTAL RECEIPTS 540,319 511,000 487,525 529,000 DEDUCTIONS: Payroll/Salaries 53,401 62,362 67,330 98,315 Payroll Related & Benefits 15,057 21,192 24,769 27,315 Supplies 17,139 11,850 56,350 55,350 Services 108,050 125,002 138,782 256,160 Rent & Utilities 17,150 33,637 34,138 34,137 Capital Outlay 16,193 - - 3,200 Transfers Out - - 40,000 640,050 TOTAL DEDUCTIONS 226,991 254,043 361,370 1 L 1,114,527 Excess Revenue Over (Under) Deductions 313,328 256,957 126,155 (585,527) FUND BALANCE, ENDING 1,183,022 1,439,979 1,309,177 723,650 Restricted/Designated Funds 25,000 5,000 UNDESIGNATED FUND BALANCE, ENDING $ 1,183,022 1 $ 1,439,979 $ 1,284,177 $ 718,650 # of Days Operating 2,048 1 2,069 1,459 557 Restricted/Designated Funds Historical Preservation Society $ 20,000 $ - Public Arts Committee 5,000 5,000 Total Restricted/Designated Funds 25,000 5,000 115 Hotel Occupancy Tax 85 Intvestment Earnings Public Arts Income 1% 6% Historical Board Income 1% Arbor Days Income 2% Total Projected Revenues $ 5297000 116 Tra n sfe rs Out 57% I Capital Outlay 0% Payroll /-9% Utilities 3% ?rvices 23% Payroll Related 3% Supplies 5% Total Projected Expenditures $ 191149527 117 500,000.00 450,000.00 400,000.00 350,000.00 300,000.00 250,000.00 200,000.00 150,000.00 100,000.00 50,000.00 0.00 FY 03/04 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 actual actual actual actual Projected Proposed 118 FY 2008/2009 Operating Budget Visitors Association Fund Departmental Summary 11 - Administrative Revenues - 90% _ N Capital Outlay Hotel Occupancy Tax $ 458,471 $ 450,000 $ 430,000 $ 450,000 Investment Earnings 49,746 48,000 35,000 28,000 Misc Revenues 32,101 13,000 22,525 51,000 Total $ 540,319 $ 511,000 $ 487,525 $ 529,000 Expenditures - 90% _ N Capital Outlay Payroll $ 8,166 $ 8,002 $ 16,667 $ 33,495 Payroll Related 2,130 2,327 5,310 7,712 Supplies 17,139 11,850 56,350 55,350 Services 108,050 125,002 138,782 256,160 Rent/Utilities 17,150 33,637 34,138 34,137 Capital Outlay 16,193 - - 3,200 Total $ 168,829 $ 180,818 $ 251,247 $ 390,054 Proposed Revenues FY 08/09 100% u Misc Revenues 95% 1.0% - 90% - • Investment Earnings 85% - 80% o Hotel Occupancy Tax 75% - 119 Proposed Expenditures FY 08/09 100% - 90% _ N Capital Outlay 80% W Rent/Utilities 70% - 60% N Services 50% 40% - V Supplies 30% - 20% - N Payroll Related 10% 0% o Payroll - FY 2008/2009 Operating Budget Visitors Association Fund Departmental Summary 17 - Facilites Maintenance Expenditures Payroll $ 6,699 $ 7,281 $ 7,324 $ 8,100 Payroll Related 2,322 3,233 4,027 3,436 Total $ 9,021 $ 10,514 $ 11,351 $ 11,536 Proposed Expenditures FY 08/09 100% 90% 80% W Payroll Related 70% 60% 50% 40% 30% 20% o Payroll 10% s_ 0% _. 120 FY 2008/2009 Operating Budget Visitors Association Fund Departmental Summary 18 -Finance Expenditures Payroll $ 31,838 $ 39,798 $ 36,016 $ 29,932 Payroll Related 8,282 12,399 11,404 8,316 Total $ 40,120 $ 52,197 $ 47,420 $ 38,248 Proposed Expenditures FY 08/09 100% 90% 80% W Payroll Related 70% 60% 50% 40% 30% 20% o Payroll 10% s_ 0% _. 121 FY 2008/2009 Operating Budget Visitors Association Fund Departmental Summary 19 - Parks and Recreation Expenditures Payroll $ 6,699 $ 7,281 $ 7,324 $ 8,100 Payroll Related 2,322 3,233 4,027 3,247 Total $ 9,021 $ 10,514 $ 11,351 $ 11,347 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 122 U Payroll Related ® Payroll FY 2008/2009 Operating Budget Visitors Association Fund Departmental Summary 21 - Human Resources/Admin Services Expenditures Payroll $ - $ - $ - $ 18,688 Payroll Related - - - 4,604 Total $ - $ - $ - $ 23,292 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 123 U Payroll Related ® Payroll �w w Strategic Plan Key Result Areas Impacted: Inviting Residential Corporate Neighborhoods Comprehensive Planning We Are Leaders Premier Education Facilities and Programs Hospitality Finds A Home in Westlake Citizen Communication FUND BALANCE, BEGINNING $ 386,754 Adopted Amended Adopted Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ 386,754 $ 385,938 1 $ 385,938 $ 327,039 RECEIPTS: Sales Tax 732,585 1,000,000 838,730 832,176 Investment earnings 14 545 TOTAL RECEIPTS 732,600 11 1,000,000 11 839,275 832,176 DEDUCTIONS: Transfers Out 733,415 1,029,731 898,174 861,907 TOTAL DEDUCTIONS 733,415 1,029,731 898,174 861,907 Excess Revenue Over (Under) Deductions 816 29,731 58,899) 29,731 FUND BALANCE, ENDING $ 385,938 $ 356,207 1 $ 327,039 $ 297,308 124 Glenwyck Farms Knox Road Knox Road 200.15205.00 Waterline Connection 2003 Connection 2004 500.23006.00 Pymt # Payment Date Beginning Balance $119,622 $293,842 $119,688 $533,152 Ending Balance Payment Due Payment Due Payment Due TOTAL 0 1 11/17/03 $ 08/15/05 533,152 $ 445,962 - $ 7,975 87,189 $ 13,777 - $ 7,979 87,189 $ 29,731 445,962 416,232 2 08/15/06 416,232 7,975 13,777 7,979 29,731 386,501 3 08/15/07 386,501 7,975 13,777 7,979 29,731 356,770 4 08/15/08 356,770 7,975 13,777 7,979 29,731 327,039 5 6 08/15/09 08/15/10 327,039 297,308 7,975 7,975 13,777 13,777 7,979 7,979 29,731 29,731 297,308 267,577 7 08/15/11 267,577 7,975 13,777 7,979 29,731 237,846 8 08/15/12 237,846 7,975 13,777 7,979 29,731 208,116 9 08/15/13 208,116 7,975 13,777 7,979 29,731 178,385 10 08/15/14 178,385 7,975 13,777 7,979 29,731 148,654 11 08/15/15 148,654 7,975 13,777 7,979 29,731 118,923 12 08/15/16 118,923 7,975 13,777 7,979 29,731 89,192 13 08/15/17 89,192 7,975 13,777 7,979 29,731 59,461 14 08/15/18 59,461 7,975 13,777 7,979 29,731 29,731 15 08/15/19 29,731 7,975 13,777 7,979 29,731 (0) TOTAL MMd $ 119,622 $ 293,842 $ 119,688 $ 533,152 $ 125 This page is intentionally blank I Strategic Plan Key Result Areas Impacted: Inviting Residential a Corporate Neighborhoods Neighborhood Integrity Community Appearance Aesthetic Standards We Are Leaders High Quality Services Coupled with Financial Stewardship Hospitality Finds A Home in Westlake Citizen Engagement Historic Preservation FUND BALANCE, BEGINNING $ Adopted Amended Adopted Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ $ $ $ 58,606 RECEIPTS: Misc Revenue 71,763 21,550 Transfers In 10,000 TOTAL RECEIPTS 81,763 21,550 DEDUCTIONS: Supplies 4,987 18,443 Services 14,570 16,400 Maintenance 3,600 12,000 Capital Outlay TOTAL DEDUCTIONS 23,157 46,843 Excess Revenue Over (Under) Deductions 58,606 (25,293) FUND BALANCE, ENDING $ $ $ 58,606 $ 33,313 126 Strategic Plan Key Result Areas Impacted: Inviting Residential a Corporate Neighborhoods Comprehensive Planning Neighborhood Integrity Community Appearance Aesthetic Standards We Are Leaders High Quality Services Coupled with Financial Stewardshi Hospitality Finds A Home in Westlake Tourism Development FUND BALANCE, BEGINNING I $ 102,687 Adopted Amended Proposed Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING I $ 102,687 $ 251,826 $ 251,826 $ 251,826 RECEIPTS: Contributions 246,353 - 237,645 - TOTAL REVENUE 246,353 IL 237,645 11 DEDUCTIONS: Capital Project 97,215 237,645 TOTAL DEDUCTIONS 97,215 IL 237,64511 - Excess Revenue Over Under Deductions 149,139 - - FUND BALANCE, ENDING (RESTRICTED) $ 251,826 $ 251,826 $ 251,826 $ 251,826 127 �w IV Strategic Plan Key Result Areas Impacted: Inviting Residential and Corporate Neighborhoods Comprehensive Planning We Are Leaders High Quality Services Coupled with Financial Stewardship Hospitality Finds A Home in Westlak Citizen Communication FUND BALANCE, BEGINNING $ Adopted Amended Adopted $ Actual Budget Budget Budget FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ - $ 154,474 $ 154,474 $ 578,064 RECEIPTS: Sales Tax 732,585 1,000,000 838,730 832,176 Investment Earnings 348 30,000 3,000 7,500 TOTAL REVENUE $ 732,933 $ 1,030,000 $ 841,730 $ 839,676 DEDUCTIONS: Transfers Out 578,459 286,583 418,140 325,000 TOTAL DEDUCTIONS $ 578,459 $ 286,583 $ 418,140 $ 325,000 Excess Revenue Over (Under) Deductions 154,474 743,417 423,590 514,676 FUND BALANCE, ENDING $ 154,474 $ 897,891 $ 578,064 $ 1,092,740 1 Stra e c Plan Key Result Areas Impacted: We Are Leaders Premier Education Facilities and Programs High Quality Services Coupled with Financial Stewardship FUND BALANCE, BEGINNING 19 Adopted Amended Adopted Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ - $ $ $ RECEIPTS: Investment earnings 22,781 Transfers In 1,311,875 1,316,314 1,316,314 1,501,957 Other Sources 7,465,000 - - - TOTAL RECEIPTS 8,799,656 1,316,314 1,316,314 1,501,957 DEDUCTIONS: Debt Service 1,710,950 1,316,314 1,316,314 1,501,957 Other Uses 7,088,706 - - - TOTAL DEDUCTIONS 8,799,656 1,316,314 1,316,314 1,501,957 Excess Revenue Over (Under) Deductions - - - - FUND BALANCE, ENDING $ - $ - $ - $ 129 Pymt # I Fiscal Year Principal Interest Total 1 2009 $ 515,000 $ 985,457 $ 1,500,457 2 2010 525,000 973,250 1,498,250 3 2011 555,000 946,778 1,501,778 4 2012 580,000 918,450 1,498,450 5 2013 610,000 888,528 1,498,528 6 2014 640,000 856,906 1,496,906 7 2015 675,000 823,442 1,498,442 8 2016 710,000 787,864 1,497,864 9 2017 740,000 760,197 1,500,197 10 2018 775,000 730,089 1,505,089 11 2019 810,000 691,257 1,501,257 12 2020 850,000 649,870 1,499,870 13 2021 895,000 606,461 1,501,461 14 2022 940,000 560,744 1,500,744 15 2023 985,000 512,719 1,497,719 16 2024 1,040,000 462,385 1,502,385 17 2025 1,090,000 408,530 1,498,530 18 2026 1,130,000 362,154 1,492,154 19 2027 1,185,000 314,082 1,499,082 20 2028 1,240,000 263,668 1,503,668 21 2029 1,110,000 209,945 1,319,945 22 2030 1,155,000 161,095 1,316,095 23 2031 1,210,000 110,060 1,320,060 24 2032 1,260,000 56,160 1,316,160 TOTAL $ 21,225,000 $ 14,040,086 $ 35,265,086 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 Annual Funding Requirements m m Ln n m m Ln n rn O e -i N ti N N N N N K1 O O O O O O O O O O O O N N N N N N N N N N N N ■ Interest W Principal 130 Pymt # Fiscal Year Principal Interest I Total 1 2009 $ 95,000 $ 84,933 $ 179,933 2 2010 85,000 94,276 179,276 3 2011 90,000 90,944 180,944 4 2012 95,000 87,416 182,416 5 2013 100,000 83,692 183,692 6 2014 100,000 79,772 179,772 7 2015 105,000 75,852 180,852 8 2016 110,000 71,736 181,736 9 2017 115,000 67,424 182,424 10 2018 120,000 62,916 182,916 11 2019 125,000 58,212 183,212 12 2020 130,000 53,312 183,312 13 2021 135,000 48,216 183,216 14 2022 140,000 42,924 182,924 15 2023 145,000 37,436 182,436 16 2024 150,000 31,752 181,752 17 2025 155,000 25,872 180,872 18 2026 160,000 19,796 179,796 19 2027 170,000 13,524 183,524 20 2028 175,000 6,860 181,860 TOTAL $ 2,500,000 $ 1,136,865 $ 3,636,865 Original Issue: $ 2,500,000 Issue Date: June 18, 2008 131 Pymt # Fiscal Year Principal Interest Tota 1 2009 $ 20,000 $ 299,145 $ 319,145 2 2010 20,000 298,345 318,345 3 2011 25,000 297,545 322,545 4 2012 25,000 296,545 321,545 5 2013 25,000 295,545 320,545 6 2014 35,000 294,608 329,608 7 2015 35,000 293,295 328,295 8 2016 410,000 291,983 701,983 9 2017 425,000 276,608 701,608 10 2018 40,000 259,608 299,608 11 2019 40,000 258,008 298,008 12 2020 45,000 256,408 301,408 13 2021 50,000 254,608 304,608 14 2022 55,000 252,608 307,608 15 2023 60,000 250,408 310,408 16 2024 65,000 248,008 313,008 17 2025 645,000 245,408 890,408 18 2026 670,000 219,608 889,608 19 2027 700,000 192,808 892,808 20 2028 730,000 164,808 894,808 21 2029 760,000 134,695 894,695 22 2030 790,000 103,345 893,345 23 2031 825,000 70,560 895,560 24 2032 855,000 35,910 890,910 TOTAL $ 7,350,000 $ 5,590,410 $ 12,940,410 Original Issue: $ 7,465,000 Issue Date: March 15, 2007 132 Pymt # Fiscal Year Principal Interest Total Ll 1 2009 $ 150,000 $ 275,529 $ 425,529 2 2010 155,000 271,029 426,029 3 2011 160,000 265,914 425,914 4 2012 165,000 260,314 425,314 5 2013 170,000 254,291 424,291 6 2014 175,000 248,001 423,001 7 2015 185,000 241,220 426,220 8 2016 190,000 233,820 423,820 9 2017 200,000 225,840 425,840 10 2018 210,000 217,240 427,240 11 2019 220,000 208,000 428,000 12 2020 230,000 197,550 427,550 13 2021 240,000 186,625 426,625 14 2022 250,000 175,225 425,225 15 2023 260,000 163,350 423,350 16 2024 275,000 151,000 426,000 17 2025 290,000 137,250 427,250 18 2026 300,000 122,750 422,750 19 2027 315,000 107,750 422,750 20 2028 335,000 92,000 427,000 21 2029 350,000 75,250 425,250 22 2030 365,000 57,750 422,750 23 2031 385,000 39,500 424,500 24 2032 405,000 20,250 425,250 TOTAL $ 5,980,000 $ 4,227,448 $ 10,207,448 Original Issue: $ 6,410,000 Issue Date: June 23, 2003 133 Pymt # Fiscal Year Principal Interest Total 1 2009 $ 250,000 $ 325,850 $ 575,850 2 2010 265,000 309,600 574,600 3 2011 280,000 292,375 572,375 4 2012 295,000 274,175 569,175 5 2013 315,000 255,000 570,000 6 2014 330,000 234,525 564,525 7 2015 350,000 213,075 563,075 8 2016 - 190,325 190,325 9 2017 - 190,325 190,325 10 2018 405,000 190,325 595,325 11 2019 425,000 167,038 592,038 12 2020 445,000 142,600 587,600 13 2021 470,000 117,013 587,013 14 2022 495,000 89,988 584,988 15 2023 520,000 61,525 581,525 16 2024 550,000 31,625 581,625 TOTAL $ 5,395,000 $ 3,085,363 $ 8,480,363 Original Issue: $ 12,400,000 Issue Date: January 15, 2002 134 Strategic Plan Key Result Lreas Impacted: We Are Leaders h Quality Services Coupled th Financial Stewardship 135 Actual FY 06/07 Adopted Budget FY 07/08 Amended Budget FY 07/08 Adopted Budget FY 08/09 FUND BALANCE, BEGINNING $ RECEIPTS: Transfers In 56,900 TOTAL RECEIPTS 56,900 DEDUCTIONS: Capital Outlay 6,900 TOTAL DEDUCTIONS - - 6,900 Excess Revenue Over Under Deductions 50,000 FUND BALANCE, ENDING - - - $ 50,000 135 This page is intentionally blank Strategic 7 Result Impacted: Inviting Residential and Corporate Neighborhoods Comprehensive Planning Neighborhood Integrity Community Appearance Quality Development Aesthetic Standards I Open Space Preservation Premier Education Facilities and Programs Well Educated Future Leaders and Thinkers Business Partnerships with Town and Westlake Academy Environment Stewardship High Quality Services Coupled with Financial Stewardship Infrastructure Maintenance 8v Planning Hospitality Finds Home in Westlake Citizen Engagement Historic Preservation Tourism Development Arts and Culture FUND BALANCE, BEGINNING $ 20,000 Adopted Amended Adopted f Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ 20,000 $ 20,000 $ 20,000 $ 35,000 RECEIPTS: Contributions - 28,750 - - Transfers In 10,000 169,750 15,000 105,500 TOTAL RECEIPTS 10,000 198,500 15,000 105,500 DEDUCTIONS: Capital Outlay - 183,500 - 90,500 Transfers Out 10,000 - - TOTAL DEDUCTIONS 10,000 183,500 - 90,500 Excess Revenue Over (Under) Deductions - 15,000 15,000 15,000 FUND BALANCE, ENDING $ 20,000 $ 35,000 $ 35,000 $ 50,000 136 Project Description M I Funded By Amount Remodel Court Room and Office Space General Fund $ 33,500 Academy - Pod B HVAC Repairs General Fund 7,000 Academy - 15 Ton Split System HVAC General Fund 9,000 Academy - Remodel Dining Hall General Fund 36,000 Academy - Remodel Office Space General Fund 5,000 Grand Total All Projects I $ 90,500 137 REMODEL COURTROOM AND OFFICE SPACE Project Description: Install a 6 inch wooden raised floor accommodate the board of alderman, trustee, P&Z , TSH and judge seats. Upgrade recording and audio video system. Remodel current town office space to accomodate the relocation of town secretary office and additional staff. CAPITAL PROJECT EXPENDITURES Thru 09/30/08 Budget 08/09 PlannedProject Total 09/10 10/11 11/12 Construction � 33,500 - - � 33,500 33,500 - EXPENDITURES TOTAL - 33,500 - - - 33,500 CAPITAL PROJECT FUNDING ir Thru 09/30/08 Budget 08/09 Planned J Project Total 09/10 10/11 11/12 General Fund Private Contribution - 33,500 - - - 33,500 - Maintenance Services Equipment FUNDING TOTAL - 33,500 - - - 33,500 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Supplies - - - - Maintenance Services Equipment - - - - - - - OPERATING IMPACT TOTAL - - - - - - 138 - ACADEMY - POD B HVAC REPAIRS � Project Description: The roof top unit on Pod B may need a new compressor. The unit has to be reset about every four to six weeks. Due to the location, a small crane will be needed to get the new compressor on the roof at Westlake Academy Campus CAPITAL PROJECT EXPENDITURES CAPITAL PROJECT FUNDING Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Replacement parts & Repairs - 7,000 - - 7,000 7,000 - - - 7,000 EXPENDITURES TOTAL Maintenance 7,000 FUNDING TOTAL - 7,000 Ad CAPITAL PROJECT FUNDING Thru 09/30/08 Budget 08/09 Planned AM Project Total 09/10 10/11 11/12 General Fund - 7,000 - - - - 7,000 Private Contribution Maintenance - FUNDING TOTAL - 7,000 - Services Equipment - 139 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Supplies - - - - Maintenance - - - - - Services Equipment - - - - - - - - OPERATING IMPACT TOTAL 139 ACADEMY - 15 TON SPLIT SYSTEM HVAC � Project Description: Replacement of compressors and/ or coils for one of the 5 - 15 ton units at Westlake Academy campus Ad CAPITAL PROJECT EXPENDITURES Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 15 Replacement parts & Rrpairs 25 Engineering - 9,000 - - 9,000 Maintenance - Private Contribution EXPENDITURES TOTAL - 9,000 - 9,000 - Ad CAPITAL PROJECT FUNDING Planned Thru 09/30/08 Budget 08/09 Planned AM Project Total 09/10 10/11 11/12 General Fund - 9,000 - - Maintenance 9,000 Private Contribution - - FUNDING TOTAL - 9,000 - - - - IMPACT ON OPERATING Thru Budget 09/30/08 08/09 BUDGET Planned Project Total 09/10 10/11 11/12 Supplies - - - - Maintenance - - - - - Services Equipment - - - - - - - - OPERATING IMPACT TOTAL 140 ACADEMY -REMODEL DINING HALL � Project Description: Expansion of the Dining Room into the classroom across the hall in Pod G and purchase additional chairs and tables. Plus small amout of remodeling of service area which would include a new check out desk. CAPITAL PROJECT EXPENDITURES CAPITAL PROJECT FUNDING Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Construction - 36,000 - - 36,000 36,000 - Maintenance 36,000 EXPENDITURES TOTAL - 36,000 - - 36,000 Ad CAPITAL PROJECT FUNDING Planned Thru 09/30/08 Budget 08/09 Planned AM Project Total 09/10 10/11 11/12 General Fund - 36,000 - Maintenance 36,000 Private Contribution - - - Services Equipment - FUNDING TOTAL - 36,000 - - - 36,000 IMPACT ON OPERATING Thru Budget 09/30/08 08/09 BUDGET Planned Project Total 09/10 10/11 11/12 Supplies - - - - Maintenance - - - - - Services Equipment - - - - - - - - OPERATING IMPACT TOTAL 141 ACADEMY -REMODEL OFFICE SPACE � Project Description: Create two offices out of one current office space at the academy. CAPITAL PROJECT FUNDING CAPITAL PROJECT EXPENDITURES Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Construction - 5,000 - - 5,000 Private Contribution - - EXPENDITURES TOTAL - 5,000 FUNDING TOTAL - 5,000 CAPITAL PROJECT FUNDING BUDGET Thru 09/30/08 Budget 08/09 Planned AM Project Total 09/10 10/11 11/12 General Fund - 5,000 - 5,000 Private Contribution - - - - FUNDING TOTAL - 5,000 - - - IMPACT ON OPERATING Thru Budget 09/30/08 08/09 BUDGET Planned Project Total 09/10 10/11 11/12 Supplies - - - - Maintenance - - - - - Services Equipment - - - - - - - - OPERATING IMPACT TOTAL 142 Strategic Plan Key Result Areas Impacted: Inviting Residential and Corporate Neighborho0 a Comprehensive Planning Neighborhood Integrity Community Appearance Quality Development Aesthetic Standards Open Space Preservation We Are Leaders Premier Education Facilities and Programs Well Educated Future Leaders and Thinkers Business Partnerships with Town and Westlake Academy Environment Stewardship High Quality Services Coupled with Financial Stewardship Infrastructure Maintenance 8s Planning Hospitality Finds A Home in Westlake Citizen Engagement Citizen Communication Historic Preservation Tourism Development Arts and Culture FUND BALANCE, BEGINNING $ Adopted Amended Adopted Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ $ 20,000 $ 20,000 $ 35,000 RECEIPTS: Total Transfers In 43,864 15,000 15,000 15,000 TOTAL REVENUE 43,864 15,000 15,000 15,000 DEDUCTIONS: Services 23,864 - - - TOTAL DEDUCTIONS 23,864 - - - Excess Revenue Over (Under) Deductions 20,000 15,000 15,000 15,000 FUND BALANCE, ENDING Is 20,000 Is 35,000 1 $ 35,000 Is 50,000 143 WORKING CAPITAL, BEGINNING $ 874,246 $ Adopted Amended Adopted RECEIPTS: Actual Budget Budget Budget Charges for Services FY 06/07 FY 07/08 FY 07/08 FY 08/09 WORKING CAPITAL, BEGINNING $ 874,246 $ 1,138,003 $ 1,138,003 $ 1,588,047 RECEIPTS: $ 96,250 $ 106,250 $ 106,250 $ 106,250 Charges for Services 1,657,185 2,223,388 2,201,493 2,228,400 Misc Operating Revenues 36,936 3,500 16,250 9,150 Interest and Investment Revenues 46,158 50,000 35,000 35,000 TOTAL RECEIPTS 1,740,279 2,276,888 2,252,743 2,272,550 DEDUCTIONS Payroll/Salaries 85,704 103,718 107,041 144,987 Payroll Related & Benefits 119,019 129,999 121,739 62,736 Supplies 4,169 7,800 8,500 9,400 Services 278,833 258,795 277,185 257,109 Water Purchases/Peak Pymt 561,106 887,720 804,606 911,025 Insurance 2,225 3,474 6,274 6,287 Maintenance 56,130 72,500 95,053 82,500 Rent & Utilities 61,652 105,694 102,300 106,039 Interfund Payments/Debt 124,470 273,508 209,687 216,986 Capital Outlay 51,280 35,500 30,312 65,500 Total Transfers Out 77,840 65,000 40,000 62,000 Capital Projects 54,095 173,501 - 173,501 TOTAL DEDUCTIONS 1,476,523 2,117,209 1,802,698 2,098,070 Excess Revenue Over (Under) Deductions 263,757 159,679 450,045 174,480 Working Capital, Ending 1,138,003 1,297,682 1,588,047 1,762,527 Restricted/Designated Funds 102,680 100,000 111,360 111,360 UNRESTRICTED WORKING CAPITAL, ENDING $ 1,035,323 $ 1,197,682 $ 1,476,687 $ 1,651,167 # Days Operating 292 237 311 335 Restricted/Designated Funds FY 06/07 FY 07/08 FY 07/08 FY 08/09 Water & Sewer Deposits Texpool 10131 $ 96,250 $ 106,250 $ 106,250 $ 106,250 Water & Sewer Deposits Cash 10112 6,430 5,110 5,110 5,110 Total Restricted/Designated Funds $ 102,680 $ 111,360 $ 111,360 $ 111,360 Note: Depreciation and Amortization are not included in the Operations and Maintenance of this fund. Hillwood accrued interest is also not included based on the agreement's maximum exposure. 144 FY 2008/2009 Operating Budget Utility Fund Departmental Summary 00 -Utility Expenditures Payroll $ 41,658 $ 45,750 $ 45,508 $ 51,675 Payroll Related 14,050 17,352 19,429 17,748 Total Transfers Out 77,840 65,000 40,000 62,000 Capital Projects 54,095 173,501 - 173,501 Total $ 187,644 $ 301,603 $ 104,937 $ 304,924 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 145 Y Capital Projects W Total Transfers Out O Payroll Related M Payroll FY 2008/2009 Operating Budget Utility Fund Departmental Summary 11 - Administrative Revenues Amended Adopted MM 1,657,185 $ Budget Budget 2,201,493 $ 2,228,400 Misc Operating Revenues FY 07/08 FY 8/09 Revenues Charges for Services $ 1,657,185 $ 2,223,388 $ 2,201,493 $ 2,228,400 Misc Operating Revenues 36,936 3,500 16,250 9,150 Interest and Investment Revenues 46,158 50,000 35,000 35,000 Total I $ 1,740,279 $ 2,276,888 $ 2,252,743 $ 2,272,550 Expenditures Payroll $ 8,166 $ 8,002 $ 16,667 $ 33,495 Payroll Related 95,556 95,298 88,938 27,712 Total $ 103,722 $ 103,300 $ 105,605 $ 61,207 Proposed Revenues FY 08/09 100% 1 h d — 100% 99% 99% 98% 98% 97% 1r Interest and Investment Revenues M Misc Operating Revenues M Charges for Services 146 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Payroll Related o Payroll FY 2008/2009 Operating Budget Utility Fund Departmental Summary 16 -Public Works Expenditures N Capital Outlay 90% Vl Interfund Payments/Debt 80% Payroll/Salaries $ $ 6,760 $ 5,508 $ 9,295 Payroll Related & Benefits W Maintenance 3,869 909 3,636 Supplies 4,169 7,800 8,500 9,400 Services 248,320 258,795 277,185 257,109 Water Purchases/Peak Pymt 561,106 887,720 804,606 911,025 Insurance 2,225 3,474 6,274 6,287 Maintenance 56,130 72,500 95,053 82,500 Rent & Utilities 61,652 105,694 102,300 106,039 Interfund Payments/Debt 124,470 273,508 209,687 216,986 Capital Outlay 51,280 35,500 30,312 65,500 Total 1 $ 1,109,352 $ 1,655,620 $ 1,540,336 $ 1,667,777 Proposed Expenditures FY 08/09 100% N Capital Outlay 90% Vl Interfund Payments/Debt 80% 61 Rent & Utilities 70% W Maintenance 60% ®Insurance 50% • Water Purchases/Peak Pymt 40% it Services 30% 20% WSupplies 10% 9 Payroll Related & Benefits 0% v Payroll/Salaries 147 FY 2008/2009 Operating Budget Utility Fund Departmental Summary 18 -Finance Expenditures Payroll $ 35,879 $ 43,206 $ 39,358 $ 39,309 Payroll Related 9,413 13,480 12,463 10,877 Total $ 45,292 $ 56,686 $ 51,821 $ 50,186 Proposed Expenditures FY 08/09 100% 90% 80% N Payroll Related 70% 60% 50% 40% 30% 20% o Payroll 10% 0% 148 FY 2008/2009 Operating Budget Utility Fund Departmental Summary 21 - Human Resources Expenditures Payroll $ - $ - $ - $ 11,213 Payroll Related - - - 2,763 Total $ - $ - $ - $ 13,976 Proposed Expenditures FY 08/09 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% III Payroll Related N Payroll 149 Project Description: Includes the design and construction of a metering station with SCADA equipment at the proposed Town of Westlake "Point of Entry," video inspection, excavation to expose line for inspection, and manhole and sewer main repair work. CAPITAL PROJECT EXPENDITURES ThruBudget 09/30/08 08/09 Planned Project Total 09/10 10/11 11/12 15 Construction 25 Engineering 126,501 - 4,531 20,000 08/09E09/10 Total 126,501 - - - 24,531 EXPENDITURES TOTAL 4,531 146,501 - - FUNDING TOTAL 151,032 CAPITAL PROJECT FUNDING Thru Budget Planned Project 10/11 11/12 Membership Fee Maintenance Services Equipment 09/30/08 08/09E09/10 Total General Fund - - - - - - Utility Fund 4,531 146,501 151,032 Visitor Fund - - _ 4B Fund - - FUNDING TOTAL 4,531 146,501 - - 151,032 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget 08/09E09/10 Planned Project Total 10/11 11/12 Membership Fee Maintenance Services Equipment - - - - - - OPERATING IMPACT TOTAL - - - - - - 150 WATER METER AUTOMATION Project Description: This project will provide radio read meters for all existing manual meters within the Town and integrate into a future fixed base network reading system. CAPITAL PROJECT EXPENDITURES Thru 09/30/08 Budget 08/09 PlannedProject Total 09/10 10/11 11/12 Construction - 27,000 60,000 60,000 147,000 60,000 60,000 EXPENDITURES TOTAL - 27,000 60,000 60,000 - 147,000 CAPITAL PROJECT FUNDING Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Utility Fund - 27,000 60,000 60,000 147,000 - Services Equipment FUNDING TOTAL - 27,000 60,000 60,000 - 147,000 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Maintenance - - - - Services Equipment - - - OPERATING IMPACT TOTAL - - - - - - 151 Water Revenue 74% Debt Service Meter Repair Areas Revenue 17% Waste Management 2% 'Tap Fees 1% Impact fees 1% Misc Revenue Total Projected Revenues $ 29272,550 152 Water Purchases /Peak Pymt 44%— Insurance 4%_ Services 12% Insurance GL/Auto/Property 0% t Supplies 1% Payroll Related 3% Repair & Maintenance 4% Rent & Utilities 5% Interfund Payments/Debt 10% Capital Outlay 3% Total Transfers Out 3% Capital Projects 8% Total Projected Expenses $ 2,098,070 153 Extension of Peak 377 Water Sewer Line GW Farms 100.15205.00 100.48801.16 Water Mains Payment Line "A" Waterline 500.23001.00 Pymt # Payment Date Beginning Balance $57,600 $95,000 $4,895 $1,515 $2,033 $161,043 Ending Balance Amount Due Amount Due Amount Due Amount Due Amount Due TOTAL 1 01/15/05 $ 161,043 $ 3,840 $ 23,750 $ 4,895 $ 1,515 $ 2,033 $ 36,033 $ 125,010 2 01/15/06 125,010 3,840 23,750 - - - 27,590 97,420 3 01/15/07 97,420 3,840 23,750 27,590 69,830 4 01/15/08 69,830 3,840 23,750 27,590 42,240 5 01/15/09 42,240 21,120 - 21,120 21,120 6 01/15/10 21,120 21,120 - - - - 21,120 - TOTAL $ 57,600 $ 95,000 $ 4,895 $ 1,515 $ 2,033 $ 161,043 $ 154 Glenwyck Farms Knox Road Knox Road -1200 .15205.00 Waterline ronnertinn ?003 ronnectinn ?004 5(1093(lOF_O(1 Pymt # Payment Date Beginning Balance $119,622 $293,842 $119,688 $533,152 Ending Balance Payment Due Payment Due Payment Due TOTAL 13,777 7,979 29,731 416,232 2 08/15/06 416,232 7,975 0 11/17/03 $ 533,152 $ - $ 87,189 $ - $ 87,189 $ 445,962 1 08/15/05 445,962 7,975 13,777 7,979 29,731 416,232 2 08/15/06 416,232 7,975 13,777 7,979 29,731 386,501 3 08/15/07 386,501 7,975 13,777 7,979 29,731 356,770 4 08/15/08 356,770 7,975 13,777 7,979 29,731 327,039 5 08/15/09 327,039 7,975 13,777 7,979 29,731 297,308 6 08/15/10 297,308 7,975 13,777 7,979 29,731 267,577 7 08/15/11 267,577 7,975 13,777 7,979 29,731 237,846 8 08/15/12 237,846 7,975 13,777 7,979 29,731 208,116 9 08/15/13 208,116 7,975 13,777 7,979 29,731 178,385 10 08/15/14 178,385 7,975 13,777 7,979 29,731 148,654 11 08/15/15 148,654 7,975 13,777 7,979 29,731 118,923 12 08/15/16 118,923 7,975 13,777 7,979 29,731 89,192 13 08/15/17 89,192 7,975 13,777 7,979 29,731 59,461 14 08/15/18 59,461 7,975 13,777 7,979 29,731 29,731 15 08/15/19 29,731 7,975 13,777 7,979 29,731 (0) TOTAL $ 119,622 $ 293,842 $ 119,688 $ 533,152 155 Pymt Pymt TOTAL PAYABLE WESTLAKE'S PORTION OF PAYABLE 32% # Date Principal Interest Total Payable Principal Interest Total Balance 118,887 $ 1,433,959 2 09/30/02 1 09/30/01 $ 100,000 $ 271,012 $ 371,012 $ 118,887 $ 32,040 $ 86,847 $ 118,887 $ 1,433,959 2 09/30/02 130,000 243,450 373,450 119,668 41,657 78,012 119,668 1,392,302 3 09/30/03 140,000 235,823 375,823 120,429 44,860 75,569 120,429 1,347,443 4 09/30/04 145,000 227,771 372,771 119,451 46,466 72,984 119,451 1,300,976 5 09/30/05 155,000 219,296 374,296 119,939.49 49,666.94 70,272.55 119,939 1,251,309 6 09/30/06 165,000 210,256 375,256 120,247.11 52,872.65 67,374.46 120,247 1,198,437 7 09/30/07 175,000 200,651 375,651 120,373.69 56,082.10 64,291.59 120,374 1,142,355 8 09/30/08 185,000 189,695 374,695 120,067.27 59,277.21 60,790.06 120,067 1,083,078 9 09/30/09 200,000 177,183 377,183 120,864.36 64,082.28 56,782.08 120,864 1,018,995 10 09/30/10 210,000 165,433 375,433 120,304 67,298 53,006 120,304 951,697 11 09/30/11 225,000 154,558 379,558 121,625 72,100 49,526 121,625 879,598 12 09/30/12 235,000 142,940 377,940 121,107 75,304 45,803 121,107 804,293 13 09/30/13 250,000 130,448 380,448 121,911 80,107 41,803 121,911 724,186 14 09/30/14 270,000 116,793 386,793 123,944 86,513 37,431 123,944 637,673 15 09/30/15 285,000 102,014 387,014 124,015 91,324 32,690 124,015 546,349 16 09/30/16 300,000 86,290 386,290 123,783 96,130 27,653 123,783 450,219 17 09/30/17 320,000 69,390 389,390 124,776 102,541 22,235 124,776 347,678 18 09/30/18 340,000 51,155 391,155 125,342 108,947 16,395 125,342 238,731 19 09/30/19 360,000 31,640 391,640 125,497 115,357 10,140 125,497 123,374 20 09/30/20 385,000 10,780 395,780 126,824 123,374 3,450 126,824 (0) TOTAL $ 4,575,000 $ 3,036,576 $ 7,611,576 $ 2,439,053 $ 1,465,999 $ 973,054 $ 2,439,053 156 2,500,000.00 2,250,000.00 2,000,000.00 1,750,000.00 1,500,000.00 1,250,000.00 1,000,000.00 750,000.00 500,000.00 250,000.00 0.00 FY 03/04 actual FY 04/05 actual FY 05/06 actual FY 06/07 actual FY 07/08 FY 08/09 Projected Proposed 157 FY 08/09 Proposed FY 07/08 Projected FY 06/07 actual FY 05/06 actual FY 04/05 actual FY 03/04 actual 50 100 150 200 250 300 350 400 450 500 158 FUND BALANCE, BEGINNING $ 0 Adopted Amended Adopted Glenwyck Trail Extension 10130 000019 Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ 0 $ 478 $ 478 $ 75,760 Glenwyck Trail Extension 10130 000019 $ $ 75,000 15,000 $ RECEIPTS: - - - Contributions - - 60,760 25,000 Transfers In 590,123 35,000 172,517 75,000 TOTAL RECEIPTS 590,123 35,000 233,277 100,000 DEDUCTIONS: Capital Projects 589,645 35,000 157,995 115,000 TOTAL DEDUCTIONS 589,645 35,000 157,995 115,000 Excess Revenue Over (Under) Deductions 478 - 75,282 (15,000) Fund Balance, Ending 478 478 75,760 60,760 Restricted/Designated Funds - - 75,760 60,760 UNRESTRICTED FUND BALANCE, ENDING $ 478 $ 478 $ - $ - Restricted/Designated Funds acct proj FY 06/07 FY 07/08 FY 07/08 FY 08/09 Glenwyck Trail Extension 10130 000019 $ $ 75,000 15,000 $ FM 1938 Streetscape 10130 000020 - - - FM1938 Underpass Improvements 10130 000015 - 60,760 60,760 Total Restricted/Designated Funds I $ $ 75,000 $ 75,760 $ 60,760 159 STAGECOACH HILLS DRAINAGE Project Description: Improve drainage infrastructure in Stagecoach Hills. PROJECT EXPENSE Thru 09/30/08 Budget FY 08/09 Planned Project Total 09/10 10/11 11/12 15 Construction 25 Engineering 0 75,000 0 0 0 0 0 0 0 0 75,000 0 EXPENDITURES TOTAL 0 1 75,000 1 0 0 0 75,000 PROJECT FUNDING Thru 09/30/08 BudgetPlanned FY 08/09 Planned Project Total 09/10 10/11 11/12 Property Tax Reduction Fund 0 75,000 0 0 0 75,000 FUNDING TOTAL 0 1 75,000 0 1 0 1 0 1 75,000 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget FY 08/09 Planned Project Total 09/10 10/11 11/12 Supplies 0 0 0 0 0 0 0 0 0 0 Maintenance 0 0 Services Equipment 0 0 0 0 0 0 0 0 0 0 0 0 OPERATING IMPACT TOTAL 0 0 II 0 1 0 0 160 DELOITTE TRAIL PROJECT ON DOVE ROAD Project Description: Connect the trail from the Deloitte project to Vaquero current trails. 1.5M will be proviced by Hillwood for Dove road improvements. CAPITAL PROJECT EXPENDITURES Thru 09/30/07 Budget 08/09 Planned Project Total 09/10 10/11 11/12 10 Design - 25,000 - 450,000 1,000 1,000 FUNDING TOTAL 25,000 15 Construction 25 Engineering - 400,000 - 450,000 400,000 Services (Irrigation) 25,000 - 1,000 25,000 EXPENDITURES TOTAL - 25,000 425,000 - - 450,000 CAPITAL PROJECT FUNDING Thru 09/30/07 Budget 08/09 Planned Project Total 09/10 10/11 11/12 General Fund Dove Rd Imp (Contribution) - - - 25,000 425,000 - - 450,000 1,000 1,000 FUNDING TOTAL - 25,000 425,000 - - 450,000 IMPACT ON OPERATING BUDGET Thru 09/30/07 Budget 08/09 PlannedProject Total 09/10 10/11 11/12 Maintenance (Electrical) - 1,000 1,000 2,000 Services (Landscaping) - 6,000 9,500 15,500 Services (Irrigation) - 1,000 2,500 3,500 Water usages - 12,000 10,500 22,500 OPERATING IMPACT TOTAL - - - 20,000 23,500 43,500 161 Project Description: Connect the Glenwyck Farm current trail to the Terra Bella development to the east. Funds are being held in escrow. CAPITAL PROJECT EXPENDITURES Thru 09/30/08 BudgetPlnned 08/09 Planned Project Total L:Oawi0 10/11 11/12 15 Construction 60,000 25 Engineering - 15,000 - 75,000 - - EXPENDITURES TOTAL 60,000 15,000 - - - 75,000 CAPITAL PROJECT FUNDING Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 General Fund (escrow account) 60,000 15,000 - I - - 75,000 Private Contribution FUNDING TOTAL 1 60,000 15,000 - - - 75,000 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget 08/09 Planned Project Total 09/10 10/11 11/12 Supplies - Maintenance Services Equipment - - 2,000 4,000 4,0001 10,000 - - - - - - - - OPERATING IMPACT TOTAL - - 2,000 4,000 4,000 10,000 162 This page is intentionally blank Strategic Plan Key Result Areas Impacted: Inviting Residential and Corporate Neighborhoods Community Appearance Quality Development Aesthetic Standards We Are Leaders Premier Education Faciliti and Programs Well Educated Future Leaders and Thinkers Business Partnerships with Town and Westlake Academy Hospitality Finds A Home in Westlake Citizen Engagement FUND BALANCE, BEGINNING $ Adopted Amended Adopted Actual Budget Budget Budget RECEIPTS: FY 06/07 FY 07/08 FY 07/08 FY 08/09 FUND BALANCE, BEGINNING $ $ $ - $ 3,383,420 RECEIPTS: Contributions 800,000 200,000 Interest Earned 41,500 15,000 Interfund Advances - 503,967 Grants/Donations/Pledges 500,000 681,979 331,975 Transfers In - - 200,000 - Interfund Loan from Visitors Association 149,928 - Bond Proceeds - 2,500,000 2,500,000 - TOTAL RECEIPTS 149,928 3,000,000 4,223,479 1,050,942 DEDUCTIONS: Capital Project 149,928 2,426,000 840,059 4,434,362 Interfund Loan repayment 189,000 TOTAL DEDUCTIONS 149,928 2,615,000 840,059 4,434,362 Excess Revenue Over Under Deductions $ 0 385,000 3,383,420 3,383,420 FUND BALANCE, ENDING $ 0 $ 385,000 $ 3,383,420 $ - Note 1: $305,467 has been designated in the fund balance of the General Fund to cover the Arts and Sciences Center private donations expected to be received over FY 08-09 and 09-10. 163 Project Description: Phase 1 $5,189,388 of the Westlake Performing Arts & Science Center will include two Sciences labs, art room, main lobby, offices and restrooms, conference room and half of the parking lot. As funds are available, additional improvements may include phase 11 foundation for the black box, art room and half of the parking lot. Before Phase 11 is to started a needs assessment would be completed to determine the future needs of the Academy and Town. Phase I total square footage will be 8,730 square foot. Total expenditure and funding anticipates an interfund loan from the General Fund to cover private donations expected to be received over NET 1 $ 3,383,420 1 $ 0 1 $ 0 1 $ $ - I $ 0 * Highlighted number represents a potential interfund loan to cover private donations expected to be received over FY 08/09 and FY 09/10 as well as an interfund loan from Utility Fund for utility relocation. (See designated funds in General Fund and Utility Fund). 164 CAPITAL PROJECT EXPENDITURES 119 Est. Thru 09/30/08 Budget FY08/09 Budget FY08/09 Planned Project Total 09/10 10/11 11/12 43215 Engineering 60,945 20,000 - - - 80,945 43248 Design 77,000 - - - - 77,000 43305 Legal (Bonds, Insurance) 13,875 20,000 - - - 33,875 44311 Utiity relocation 211,000 - - - - 211,000 45405 Advertising 1,500 - - - - 1,500 45902 Electrical 550 - - - - 550 46120 Postage/Shipping Expense 25 - - - - 25 46125 Print/Copy Expense 331 - - - - 331 46195 Construction 441,833 4,194,361 - - - 4,636,194 47415 FF&E - 200,000 - - - 200,000 48838 Bond Issuance Cost 33,000 4,434,361 0 33,000 EXPENDITURE TOTAL 840,059T 4,434,361 5,274,420 NET 1 $ 3,383,420 1 $ 0 1 $ 0 1 $ $ - I $ 0 * Highlighted number represents a potential interfund loan to cover private donations expected to be received over FY 08/09 and FY 09/10 as well as an interfund loan from Utility Fund for utility relocation. (See designated funds in General Fund and Utility Fund). 164 CAPITAL PROJECT FUNDING Est. Thru 09/30/08 Budget FY08/09 Planned Project Total 09/10 10/11 11/12 Prior Year Remaining Funds 500,000 3,383,420 - 0 - - - - - 3,383,420 33700 Lee Contribution 500,000 52510 Texas Student Housing 06/07 200,000 - - - - 200,000 33700 Texas Student Housing 07/08 300,000 - - - - 300,000 36110 Interest Earned 41,500 15,000 - - - 56,500 38801 * Interfund Loan from GF * 298,967 (298,967) - 38805 * Interfund Loan from OF * 205,000 (51,033) (153,967) 39503 Prospective Pledges Payments - 331,975 350,000 153,967 - 835,942 39503 Westlake Academy Foundation 681,979 - - - - 681,979 52531 Westlake Academy (FF&E) 200,000 200,000 75000 General Obligation Bonds 2,500,000 - - - - 2,500,000 FUNDING TOTAL 4,223,479 4,434,361 0 5,274,421 NET 1 $ 3,383,420 1 $ 0 1 $ 0 1 $ $ - I $ 0 * Highlighted number represents a potential interfund loan to cover private donations expected to be received over FY 08/09 and FY 09/10 as well as an interfund loan from Utility Fund for utility relocation. (See designated funds in General Fund and Utility Fund). 164 IMPACT ON OPERATING BUDGET Thru 09/30/08 Budget FY08/09 Planned Project Total 09/10 10/11 11/12 Supplies (Paper, Etc) (Academy) - - - 4,000 4,000 4,000 12,000 Maintenance (HVAC) (Municipal) 3,000 3,000 3,000 9,000 Maintenance (Electrical) (Municipal) - - 2,800 2,800 2,800 8,400 Maintenance (Security) (Municipal) - - 3,000 3,000 3,000 9,000 Services (Landscaping) (Municipal) Services (Cleaning) (Academy) - - 4,000 4,000 4,000 3,500 12,000 10,500 - - 3,500 3,500 Equipment (Lighting, AV) (Municipal) - - 4,000 4,000 4,000 12,000 Gas - 13270 x .25 psf (Academy) - - 3,318 3,318 3,318 9,953 Electric - 13270 x 1.67 psf (Academy) - - 22,161 22,161 22,161 66,483 Phone - 13270 x .333 psf (Academy) - - 4,419 4,419 4,419 13,257 T1 Line - 13270 x .04 psf (Academy) - - 531 531 531 1,592 Water - 13270 x.302 psf (Academy) - - 4,008 4,008 4,008 12,023 OPERATING IMPACT TOTAL 0 0 58,736 58,736 58,736 176,207 165 trategic Key Result Areas Impacted: Inviting Residential an Corporate Neighborhoods Neighborhood Integrity Community Appearance Aesthetic Standards We Are Leaders emier Education Facilities and Programs ,nvironment Stewardship Hospitality Finds k Home in Westlake Citizen Communication Project Description Fund # Funded By Amount Deloitte Trail 410 Contributions $ 25,000 Glenwyck Trail Extension 410 Contributions 15,000 Stagecoach Hills Drainage 410 Property Tax Fund 75,000 Total Capital Projects Fund - 410 1 $ 115,000 Arts and Sciences Center 411 Contributions/Bonds $ 4,434,361 Total Arts & Sciences Center Fund - 411 $ 4,434,361 TRA Assumption of N1 Sewer Line 500 Utility Fund $ 146,501 Water Meter Automation 500 Utility Fund 27,000 Total Utility Fund - 500 1 $ 173,501 Grand Total All Projects (All Funds) $ 4,722,862 Note 1: See Individual Funds for project detail. 166 Beginning Fund Balance $ - $ 3,811,109 $ 697,700 $ 697,700 $ 697,700 $ 697,700 Funding Sources Interfund Loan from GF/UF FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 25,000 Estimated Proposed Projected Projected Projected Projected Beginning Fund Balance $ - $ 3,811,109 $ 697,700 $ 697,700 $ 697,700 $ 697,700 Funding Sources Interfund Loan from GF/UF 30,000 503,967 (350,000) (153,967) Developer contributions Stagecoach Hills Drainage Imp 25,000 425,000 - Foundation pledge/contributions 60,000 - 331,975 350,000 153,967 Private contributions 1,536,136 30,000 - - Lee donation (rest. to Black Box) 500,000 - 360,000 - - Ending Fund Balance G.O. Bond proceeds 2,500,000 - Escrowed Funds 60,000 15,000 General Fund Transfers - 75,000 Vistors Fund Transfers 30,000 250,000 - - Utility Fund Transfers - 173,501 1,360,000 360,000 PTR Fund Transfers - 250,000 - - Interest 30,000 15,000 - - Subtotal 4,656,136 1,669,443 1,785,000 360,000 - Total Funds Available $ 4,656,136 $ 5,480,552 $ 2,482,700 $ 1,057,700 $ 697,700 $ 697,700 Capital Improvement Projects Public Streets, Trails, Parks and Bldgs FM 1938 Streetscape 30,000 - Arts and Sciences Building 755,029 4,434,351 Stagecoach Hills Drainage Imp - 75,000 Dove Road Bridge Expansion 300,000 60,000 - Trails on Dove Road (Deloitte) - 25,000 425,000 Glenwyck Trail Ext to Terra Bella 60,000 15,000 - Total Public Streets and Bldgs 845,028 4,609,351 425,000 Water & Sewer TRA Assumption of N1 Sewerline 146,501 - - Water Meter Automation 27,000 60,000 60,000 Stagecoach Hills waterline - 300,000 300,000 Ground storage tank - 1,000,000 - Total Utility - 173,501 1,360,000 360,000 Total CIP Expenditure/Expenses 845,028 4,782,852 1,785,000 360,000 - - Ending Fund Balance $ 3,811,109 $ 697,700 $ 697,700 $ 697,700 $ 697,700 $ 697,700 NOTE 1: $11VI ground storage tank will be funded through Utility revenue bonds. (Approximately $75K/annual for 20 years - 4.34%) 167 Town Hall/Municipal Court/Library $ 10.00 million Major Trail Enhancements 2.00 million Fire Station 4.00 million Park Improvements 2.00 million Additional Academy Building Expansion 8.00 million Road and Bridge Improvements Dove Road (50% paid by Developer) 1.50 million Major Cemetery Improvements 1.07 million FM 1938 Streetscape/Way Finder 1.50 million $ 30.07 million I Funding Sources Developer contributions $ $ $ 105,000 $ 472,500 $ 472,500 Private/WAF contributions - - - G.O.Bond proceeds - - Escrowed Funds - - General Fund Transfers - - Vistors Fund Transfers - - Utility Fund Transfers - Cemetery Fund Transfers PTR Fund Transfers - - - Total Funding Sources $ $ $ 105,000 $ 472,500 $ 472,500 Capital Improvement Projects Public Buildings Fire Station $ - $ $ - $ 280,000 $ 3,720,000 Town Hall/Municipal Court/Library - - 700,000 9,300,000 Academy Expansion - - 560,000 7,440,000 Subtotal Public Buildings - - 1,540,000 20,460,000 Parks & Open Space Trail Enhancements - 140,000 1,860,000 - Park Acquisition and/or Improvements - 140,000 1,860,000 - Subtotal Parks & Open Space - 280,000 3,720,000 - Cemetery Various Improvements 35,000 35,000 500,000 500,000 - Subtotal Cemetery 35,000 35,000 500,000 500,000 - Transportation FM 1938 Streetscape/Way Finder 500,000 500,000 500,000 Dove Road Improvements - 210,000 1,170,000 1,170,000 Subtotal Transportation 710,000 1,670,000 1,670,000 TOTAL General Obligation Improvements FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 1,490,000 Proposed I Projected I Projected I Projected I Projected Funding Sources Developer contributions $ $ $ 105,000 $ 472,500 $ 472,500 Private/WAF contributions - - - G.O.Bond proceeds - - Escrowed Funds - - General Fund Transfers - - Vistors Fund Transfers - - Utility Fund Transfers - Cemetery Fund Transfers PTR Fund Transfers - - - Total Funding Sources $ $ $ 105,000 $ 472,500 $ 472,500 Capital Improvement Projects Public Buildings Fire Station $ - $ $ - $ 280,000 $ 3,720,000 Town Hall/Municipal Court/Library - - 700,000 9,300,000 Academy Expansion - - 560,000 7,440,000 Subtotal Public Buildings - - 1,540,000 20,460,000 Parks & Open Space Trail Enhancements - 140,000 1,860,000 - Park Acquisition and/or Improvements - 140,000 1,860,000 - Subtotal Parks & Open Space - 280,000 3,720,000 - Cemetery Various Improvements 35,000 35,000 500,000 500,000 - Subtotal Cemetery 35,000 35,000 500,000 500,000 - Transportation FM 1938 Streetscape/Way Finder 500,000 500,000 500,000 Dove Road Improvements - 210,000 1,170,000 1,170,000 Subtotal Transportation 710,000 1,670,000 1,670,000 TOTAL General Obligation Improvements $ 35,000 $ 35,000 $ 1,490,000 $ 7,430,000 $ 22,130,000 TOTAL UNFUNDED NEEDS $ 35,000 $ 35,000 $ 1,385,000 $ 6,957,500 $ 21,657,500 This page is intentionally blank This budget focuses on the next twelve months of the Town's future. However, the Council ani staff have initiated strategic planning I9 approach to the Town's, governance which will be critical to giving thqq Council, and the community, a multi-year focus that couples I strategic priority setting with good financial stewardship decision that achieve the long- term vision set by the Council for Westlake The Council has articulated an exciting vision for Westlake. LONG-TERM STRATEGIC APPROACH This budget focuses on the next twelve months of the Town's future. However, the Council and staff have initiated a strategic planning approach to the Town's governance which will be critical to giving the Council, and the community, a multi-year focus that couples strategic priority setting with good financial stewardship decisions that achieve the long-term vision set by the Council for Westlake. The Council has articulated an exciting vision for Westlake. Westlake Vision Westlake is a one -of -a -kind community — an oasis with rolling hills, grazing longhorns, and soaring red-tailed hawks, located in the heart of the Fort Worth -Dallas metropolitan area. Inviting neighborhoods and architecturally vibrant corporate campuses find harmony among our meandering roads and trails, lined with native oaks and stone walls. We are leaders. In education we are known for our innovative partnerships between the Town - Owned Charter School and its corporate neighbors. We are environmental stewards —exemplifying the highest standards. Hospitality finds its home in Westlake. As a community, we are fully involved and invested in our rich heritage, vibrant present and exciting, sustainable future. Further, the Council has established Westlake's core mission and values: Westlake Mission On behalf of the citizens, the mission of the Town of Westlake is to be a one of -a -kind community that blends our rural atmosphere with our rich culture and urban location. 170 Communitv Values A Innovation Strong knowledg%ducation base `r Friendly and Welcoming `r Family Focus Engaged Citizens Aesthetic appeal with high development standards Unique rural setting emphasizing preservation of our natural beauty With the establishment of Westlake's vision, mission and values, the Council set key result areas (KRA's) to concentrate on in the Town's Strategic Plan that guides preparation of this and future budgets in terms of allocating resources to these KRA's. The following Vision Points and Key Result Area items are just the beginning of the Council's vision for the Town of Westlake. The Council and Staff will build on this strategic planning foundation annually. Premier Education Comprehensive Planning Facilities & Programs Citizen Engagement Neighborhood Integrity Community Appearance Quality Development Aesthetic Standards Open Space Preservation Well Educated Future Leaders & Thinkers Business Partnerships with Town & Westlake Academy Environmental Stewardship High Quality Services Coupled with Financial Stewardship Infrastructure Maintenance and Planning 171 Citizen Communication Historic Preservation Tourism Development Arts and Culture LONG-TERM STRATEGIC PLAN AND GOALS VISION POINT — INVITING RESIDENTIAL AND CORPORATE NEIGHBORHOODS Key Result Area — On-going Comprehensive Planning Ensure the master plans are continually updated and reviewed to enhance the development of the Town • Update all master plans to guide development and provide a framework for future projects and promote the Master Plan as a community focal point. • Begin Precinct Line Road Construction • Begin feasibility study of construction a Town Hall, incorporate into the capital improvement plan and periodically review the need and funding available for the facility Key Result Area — Sensitivity to Neighborhood Integrity Maintain the high standards of neighborhood planning and residential construction to foster the Town's unique character and rural atmosphere • Promote and develop landscaped entranced to neighborhoods • Develop a plan for a connected trail system and finalize the construction while working with developers, neighborhood associations, corporate partners and residents Key Result Area — Outstanding Community Appearance Enhance the appearance of the Town with public art displays and high-quality, environmentally responsible landscaping project. • Develop streetscape master -plan for the Town Key Result Area — Highest Quality Development and Aesthetic Standard Ensure standards are met that maintain the superior appearance and construction of developments within the Town • Support our newest corporate partners, Deloitte and Fidelity, with the training facility groundbreaking and the opening of Fidelity Phase II • Revise and update all codes and related amendments • Finalize oil and gas drilling policy • Assist the developers in the inspection and permitting processes of the Crossroads retail facility at Hwy 377/170 • Work to attract nationwide, well know anchor retail businesses 172 Key Result Area — Open -Space Preservation Maintain the rural atmosphere, spacious residential lots, park facilities and open areas with master planned community development • Open space land management VISION POINT — WE ARE LEADERS Key Result Area — Premier Educational Facilities and Programs Develop high quality educational facilities and learning opportunities for the students of Westlake • Complete the Arts and Sciences Center during FY 08-09 • Work with Academy staff to develop field trips for the students relative to local government and research the creation of internship positions with the Town Key Result Area — Producing Well Educated Future Leaders and Thinkers Support the Academy staff in their efforts to educate the students • Work with the surrounding businesses to develop corporate related internships for the Diploma Program students • Work with Deloitte University to develop a mentoring program for the Academy students Key Result Area — Business Partnerships with the Town and Westlake Academy Facilitate relationships between Town residents, corporate leaders and the students • Implement a Westlake speaker series that features community leaders Key Result Area — Environmental Stewardship Initiatives Develop and implement comprehensive "green" programs for the residents, corporations and the Academy • Form the Westlake Green Team to assist in the development of a comprehensive automated recycling and composting program and to identify new technology which may be utilized in our environmental stewardship. • Research the feasibility and impact of the implementation of geo-thermal processes at Westlake Academy • Identification of beneficial environmental programs and water conservation strategies to create a healthy community 173 Key Result Area — High Quality Service Delivery Coupled with Financial Stewardship Continue to provide outstanding government administration while working with the municipal budget • Impact fee study — "Growth pays for Growth", present the findings to the Board and implement the approved revisions. Key Result Area — Infrastructure Maintenance and Planning Identify the maintenance needs of existing buildings, review the impact of severe weather patterns on our neighborhoods and formulate a long-term capital improvement plan • Draft facility master plan and incorporate into a capital improvement plan for Board review • Review the drainage needs and storm water plans needed to minimize the impact of severe weather on our neighborhoods • Work with transportation representatives to include Westlake in a regional rail system VISION POINT — HOSPITALITY FINDS ITS HOME IN WESTLAKE Key Result Area — Citizen Engagement and Communication Design a comprehensive plan to communicate with residents, Academy families, corporate partners and other community stakeholders • Develop an overall communication plan for the residents that include electronic, voice and written applications; continue the regular publication of the "Westlake Wire" as an additional avenue to inform the residents of business and events related to the Town. • Redesign the Town website Key Result Area — Historic Preservation Record the events, individuals or groups associated with the Town or who had an impact on the region to provide an accurate portrayal of the history of Westlake • Integrate the mission of the Historical Preservation Society into community events. Key Result Area — Tourism Development • Host regional events to attract individuals to our restaurants and businesses • Develop and assist the marketing team that will work with the consultant group to promote the attributes of Westlake to potential corporate and retail residents Key Result Area — Arts and Culture • Expand the public parks and strive to incorporate with the IOOF cemetery. • Implement Public Art Master Plan and identify locations for the display of the art throughout the Town at major entry points. 174 ASSUMPTIONS - S -YEAR PROJECTION -ALL FUNDS REVENUES 1. Sales tax increases by 3% annually. 2. Sales tax related to Economic Development Agreements for Fidelity and Deloitte has been included for FY 08-09 and Deloitte FY 09-10. The Town receives sales tax related to these two projects only through the end of the project's construction. Per the agreements, we keep the cent sales tax received in each of the Property Tax Reduction and 4B Economic Development Funds. The remaining one cent received in the General Fund is paid out to the developer per the agreements. Therefore, the net effect to the General Fund is zero. 3. Ongoing sales tax for Deloitte and Fidelity Phase II has not been projected because of the uncertainty of the business structure. 4. Deloitte fees of $506K are included in 08-09. No major building permit fees projected from FY 09- 10 forward. 5. No new revenue sources • No permit fee increases • No growth in sales tax base • No property tax EXPENDITURES 1. No new positions except in FY 08-09. Two and one-half positions proposed in FY 08-09. Subject to review of mid -year revenues. 2. Salaries and benefits increase 3% annually. 3. Other expenses increase 3% annually. 4. Remove all major one-time expenditures. Expenditures reduced by $506K (offset by Deloitte fees) in FY 08-09. 5. No other major one-time expenses including capital outlay. 6. No inter -fund transfers out after FY 08-09. 7. One cent sales tax rebate payments regarding Fidelity and Deloitte are included in FY 08-09 and Deloitte payment for FY 09-10. None proposed for future years. 8. Only includes currently funded capital projects. 9. No increase in debt service payments included. (i.e. no additional debt issuance for new capital projects) 175 Fund Description FY 08-09 FY 09-10 FY 10-11 FY 11-12 FY 12-13 General Fund Beginning Fund Balance Sales Tax (taking Fidelity & Deloitte funds into consideration) Revenues (Inc $506,000K Deloitte fees FY 08/09) Transfers In (FW Impact Fees) Transfer in (UF % of master plan) Transfers in (Property Tax Reduction Fund) Expenditures (net of 1 time exp for 08/09 & ED Incentives) Payroll and Related Expenditures Transfers Out (General Major Maintenance Fund) Transfer out (Vehicle & Equipment Replacement Fund) Transfers Out (Capital Projects) Net Total Restricted Funds (Court restrictions) Restricted Funds (Glenwyck Farms Trail) Designated Funds (A&S Building Pledges Receivable) Restricted Funds (Building Fund from TSH) Ending Balance (projected) Operating Days Visitors Association Fund Beginning Fund Balance Revenues (net of $30K for Historical Board after 08/09) Payroll and Related Expenditures Expenditures (net of $30K for Historical Board after 08/09) Transfers out - debt service Net Total (projected) Designated (Historical/Public Arts) Ending Balance (projected) Operating Days Cemetary Fund $ 2,765,019 $ 2,815,324 $ 2,660,297 $ 2,337,259 $ 1,997,480 1,664,352 1,351,758 1,236,000 1,273,080 1,311,272 3,035,285 2,605,164 2,683,318 2,763,818 2,846,733 30,000 30,900 31,827 32,782 33,765 17,500 14,644 4,888 (5,162) 250,000 250,000 250,000 250,000 250,000 (2,883,491) (2,419,879) (2,492,475) (2,567,250) (2,644,267) (1,900,941) (1,957,969) (2,016,708) (2,077,210) (2,139,526) (105,500) (15,000) (15,000) (15,000) (15,000) (56,900) 2,815,324 2,660,297 2,337,259 1,997,480 1,640,457 108,721 108,721 108,721 108,721 108,721 149,185 149,185 149,185 149,185 149,185 305,467 - 2,251,951 1,888,759 1,531,736 2,551,576 2,228,538 192 242 180 148 117 1,309,177 723,650 600,533 477,432 354,595 529,000 513,970 529,389 545,271 561,629 (121,860) (125,516) (129,281) (133,160) (137,155) (352,617) (332,296) (342,264) (352,532) (363,108) (640,050) (179,276) (180,944) (182,416) (183,692) 723,650 6009533 477,432 354,595 232,269 7239650 6009533 477,432 354,595 232,269 557 479 370 266 169 Beginning Fund Balance 58,606 33,313 24,117 14,644 4,888 Revenues 21,550 22,197 22,862 23,548 24,255 Expenditures (46,843) (31,393) (32,335) (33,305) (34,304) Ending Balance (projected) 33,313 24,117 14,644 4,888 (5,162) FM 1938 Fund Beginning Fund Balance Revenues Transfers In 249,326 249,326 249,326 249,326 249,326 cxpenciiures - - - - Ending Balance (projected) 249,326 249,326 249,326 249,326 249,326 4B Beginning Fund Balance Beginning Fund Balance 327,039 297,308 267,577 237,846 208,115 Revenues 832,176 670,104 690,207 710,913 732,240 Transfers Out (Debt Service) (861,907) (699,835) (719,938) (740,644) (761,971) Ending Balance (projected) 297,308 267,577 237,846 208,115 178,384 " Fund balance represents balance due from OF for various capital projects (balance sheet accounts due to/from-receive $29,731 through Property Tax Reduction Fund Balance Beginning Fund Balance Revenues (no int income after FY 08-09) Transfer out to Debt Service Fund Transfer out to Capital Projects 578,064 1,092,740 642,204 839,676 670,104 690,207 - (620,639) (602,396) (75,000) 230,014 114,037 710,913 732,240 (576,890) (554,365) Transfer out to GMM (250,000) (250,000) Transfer out to General Fund (250,000) (250,000) (250,000) (250,000) (250,000) Ending Balance (projected) 1,092,740 642,204 230,014 114,037 41,913 176 Fund Description FY 08-09 FY 09-10 FY 10-11 FY 11-12 FY 12-13 Debt Service Fund 1,588,047 1,762,527 1,708,093 Beginning Balance - - - - 472,913 Transfers In (46) 861,907 699,835 719,938 740,644 761,971 Transfers In (Property Tax Reduction Fund) - 620,639 602,396 576,890 554,365 Transfer in (Visitors Assoc Fund) 640,050 179,276 180,944 182,416 183,692 Expenditures - debt service (1,501,957) (1,499,750) (1,503,278) (1,499,950) (1,500,028) Ending Balance (projected) Utility Fund Beginning Fund Balance 1,588,047 1,762,527 1,708,093 1,667,815 2,003,995 Revenues 472,913 487,100 501,713 516,765 532,268 Impact Fees 30,000 30,900 31,827 32,782 33,765 Water Revenue 1,673,507 1,723,712 1,775,424 1,828,686 1,883,547 Water Revenue (Hillwood/Town Sry Area) 96,130 99,014 101,984 105,044 108,195 Payroll and Related Expenditures (207,723) (213,955) (220,373) (226,985) (233,794) Expenditures (526,827) (542,632) (558,911) (575,678) (592,948) Water Purchases (911,025) (938,356) (966,506) (995,502) (1,025,367) Transfers Out (PCMF - excess not covered) (15,000) (15,000) (15,000) (15,000) (15,000) Transfers Out (GF operations - % of master plan) (17,000) (314,900) (820,000) (727,400) Ending Balance (projected) Transfers Out (Impact Fees to GF) (30,000) (30,900) (31,827) (32,782) (33,765) Debt Service (Hillwood Infrastructure Pymt) (96,130) (99,014) (101,984) (105,044) (108,195) Debt Service (Keller Overhead Storage) (120,864) (120,304) (121,625) (121,107) (121,911) Debt Service (Ground Storage Tank) $1 M/20Years (75,000) (75,000) (75,000) (75,000) Capital Projects (173,501) (360,000) (360,000) - - Net Fund Balance 1,762,527 1,708,093 1,667,815 2,003,995 2,355,789 Restricted Funds 111,360 111,360 111,360 111,360 111,360 Ending Fund Balance (projected) 1,651,167 1,596,733 1,556,455 1,892,635 2,244,429 Operating Days 335 315 298 353 406 Vehicle & Equipment Replacement Fund Beginning Fund Balance - 50,000 50,000 50,000 50,000 Transfers in from GF 56,900 - - - - Expenditures (6,900) - - - (365,000) Ending Balance (projected) 50,000 50,000 50,000 50,000 (315,000) General Major Maintenance Fund Beginning Fund Balance 35,000 50,000 99,800 49,900 (755,100) Transfer in from GF 105,500 15,000 15,000 15,000 15,000 Transfer in from PTR - 250,000 250,000 - - Expenditures (90,500) (215,200) (314,900) (820,000) (727,400) Ending Balance (projected) 50,000 99,800 49,900 (755,100) (1,467,500) Utility Major Maintenance Fund Beginning Fund Balance 35,000 50,000 65,000 80,000 65,000 Transfers in from Utility Fund 15,000 15,000 15,000 15,000 15,000 Expenditures - - - (30,000) (150,000) Ending Fund Balance (projected) 50,000 65,000 80,000 65,000 (70,000) Total Projected Ending Fund Balance $ 6,449,455 $ 6,146,866 $ 5,174,155 $ 4,072,254 $ 2,620,395 177 This page is intentionally blank TOWN OF WESTLAKE COMMUNITY PROFILE History of Westlake The Town of Westlake has a short but fascinating history. The geographic region, known as the place where the cross timbers met the prairie, holds tales of settlers from the Peters Colony, Indian treaties signed by Sam Houston, tremendous archeological treasures, and some of t' oldest settlements in north Texas. The region has always been known for its natural bounty, its trade value, and its wonderful people. The Town of Westlake and northeast Tarrant County has maintained that distinction over the years, becoming one of the most desirable and sought after places to live in America. The Town has seen much change since its original incorporation. During thi early years, our Mayor and Board members met to discuss Town business in the comfort of each other's living rooms — an interesting contrast to how our Town operates today. In 1956, Westlake Dallas lawyer Glenn Turner purchased about 2,000 acres along State Highway 114. The area came to be known as Circle T Ranch. Soon after, ranches and homeowners in the surrounding community incorporated, taking the name Westlake. The area included what is known today as Westlake, plus the area north, to the northern shore of Denton Creek. This northern land was later disannexed from Westlake and formed Trophy Club. By 1952, Denton Creek was dammed and Lake Grapevine was formed. In the early 1970s, Houston developers Johnson and Loggins and professional golfer Ben Hogan approached Westlake about building a golf course, country club, and a housing development. Residents' interests differed. In 1973, Westlake disannexed that area, clearing the way for the upscale housing development. In the mid 1970s, the Circle T Ranch was purchased by oil millionaire Nelson Bunker Hunt. The ranch became known for its glamorous parties attended by celebrities from all over the world. By 1989, Hunt had declared bankruptcy and the ranch was up for sale. It was purchased by Ross Perot Jr. in 1993. 178 Location Minutes from downtown Fort Worth and DFW International Airport, the Town of Westlake is home to several upscale residential communities and Fortune 500 companies, all of which share a unique character and charm, along with a commitment to excellence. The Town is located in northeast Tarrant County and may be conveniently accessed by several major thoroughfares, including SH 114 and US 377. Town of iiestiavkt n# 35 377 VFW a�a 7s 3s 34 Dallas Fort `k-brth 45 While nearby cities are easily accessible, staying in Town for dining and entertainment is just as easy. Local restaurants serve up Italian and Tex-Mex specialties, and choices even include a delicatessen. Commercial Development In the mid 1980s, IBM built Solana, the multi use office complex. IBM maintained a large presence until the mid 1990s. At that time, several of the office buildings became available for use by other corporations. Eventually, IBM sold its partnership interest. The turn of the century has seen the addition of several major corporations to the Westlake landscape. These include Fidelity Investments, Daimler -Chrysler, and First American Title. In 2008, pre -development meetings have been conducted for the Deloitte LLP Learning and Leadership Development Center and for Westlake Corners at South -SH 114 & US 377. Throughout the years, Westlake has proven to be an ideal and innovative business location. Community Events Arbor Da The Westlake Arbor Day Celebration is held each October. This annual celebration is an afternoon of activities, live entertainment, best cookie competitions, auctions, and a variety of great food. Kids' activities have included pony rides, face painting, games, crafts, and an obstacle course. In addition, there are educational sessions on tree care advice, and complimentary trees. Admission is free. 179 Decoration Day The Westlake Preservation Historical Society sponsors its annual "Decoration Day" event each Memorial Day in Westlake at the Odd Fellow Cemetery. This community event is a public commemoration of veterans, both past and present, who have served our country and defended our freedom and liberties. Activities include live music, treasure hunts for the kids, and a homemade ice- cream competition. Past events have included live reenactments of people and events pertaining to Westlake's history. The event ends at sunset. Masterworks Concert Series The Masterworks Music Series is a variety of free music programs sponsored by the Town of Westlake, Maguire Partners, and ARTSNET. These free concerts are for arts lovers of all ages and feature instrumental and vocal music ranging from Country & Western to Blues & Jazz with the entertainment of local, regional and national artists. The concert season begins in April and features an exciting performance each Thursday through the month of May. Performances are held at the Solana Village Center. Westlake Academy The Westlake Academy is an Open Enrollment Charter School that opened September 1, 2003. Westlake Academy distinguishes itself among neighboring educational offerings with a particular focus on international -style academics. The programs of the International Baccalaureate Organization (Primary Years Program, Middle Years Program, Diploma Program) have been selected as the educational model. Educational technology i will be pervasive and will infuse the N classroom curriculum. If--. = i 1. An environment rich with heritage, the - Westlake Academy mission is to provide educational opportunities to each child in keeping with his or her individual needs. The primary geographic service area for Westlake Academy is the town limits of Westlake; students from other locations may be considered if seats are available. The current structure for teacher student ratio is 1:15 with a targeted class size of 16 students. Westlake Academy will add an additional grade level each year until we service grades K-12. U, Facts, Figures, and Statistics Location Northeast Tarrant County 7 square miles 12 miles west of Dallas -Fort Worth International Airport 7 miles east of Fort Worth Alliance Airport Demographics 703 residents Average appraised home value: $1,200,000 100% living in single-family households Climate Days of sunshine: 137 Mean winter temperature: 54°F Mean summer Temperature: 92°F Mean annual precipitation: 33.7 inches Mean annual snowfall: 3.1 inches 574 feet Major Developments & Planned Developments Fidelity Investments North Texas Campus Solana Corporate Campus Daimler Chrysler Westlake Campus Westlake Corners Deloitte LLP Learning and Leadership Development Center Top Employers Fidelity Investments Wells Fargo Co. Sonitrol Pfizer Inc. Solara Healthcare Pacific Supply Express Premier Academy Diego's First American Real Estate Maguire Partners Levi Strauss The Solana Club Mack Trucks Marriott Solana Chrysler Financial Walco International Boy Scouts of America Daiichi/Sanko Seagate Corp. McKesson Corp. The SABRE Group Talbot Insurance Agency La Scala/Joe's Pizza Weinberger's Deli 181 Sales Tax Sales Tax rate is 8.25% 6.25% state tax 1% local tax 1/2% economic development sales tax 1/2% property tax reduction sales tax Property Tax The Town of Westlake assesses NO city property tax. Property within the Town is assessed a property tax by Tarrant county, Tarrant County College, and the Tarrant County Hospital District at a combined rate of 63.6 cents per $100 valuation. In addition, properties are assessed by one of three school districts contained within Westlake's borders. The combined total property tax rate, depending on the taxing school district, is as follows: Carroll ISD - $2.101277 per $100 Keller ISD - $1.993677 per $100 Northwest ISD - $1.971327 per $100 Properties located in Tarrant County and the Northwest ISD will receive their county tax assessment from the Tarrant County Tax Assessor, while a separate assessment for Northwest ISD taxes will be issued by the Denton County Tax Assessor. Denton County and School Taxes Properties located in Denton County and the Northwest ISD are taxed at a combined rate of $1.57094 per $100 valuation by the following entities: Northwest ISD - $1.33505 per $100 valuation Denton County - $0.23589 per $100 valuation 182 This page is intentionally blank TOWN OF WESTLAKE GLOSSARY OF TERMS Account: A separate financial reporting unit for budgeting, management, or accounting purposes. All budgetary transactions, whether revenue or expenditure, are recorded in accounts. Adopted Budget: The budget as modified and finally approved by the Town Council. The adopted budget is authorized by resolution that sets the legal spending limits for the fiscal year. Accounts Payable: A liability account reflecting amount of open accounts owed to private persons or organizations for goods and services received by a government (but not including amounts due to other funds of the same government or to other governments). Accounts Receivable: An asset account reflecting amounts owed to open accounts from private persons or organizations for goods or services furnished by the government. Accrual Accounting: Recognition of the financial effects of transactions, events, and circumstances in the period(s) when they occur regardless of when the cash is received or paid. Activity: A service performed by a department or division. Allocation: A part of a lump -sum amount, which is designated for expenditure by specific organization units and/or for special purposes, activities, or objects. Amortization: Payment of principal plus interest over a fixed period of time. Appropriation: An authorization made by the legislative body of a government, which permits officials to incur obligations against and to make expenditures of governmental resources. Specific appropriations are usually made at the 183 fund level and are granted for a one-year period. Appropriation Ordinance: The official enactment by the legislative body establishing the legal authority for officials to obligate and expend resources. Assets: Resources owned or held by the Town which has monetary value. Audit: An examination, usually by an official or a private accounting firm retained by the Board of Aldermen, of organization financial statements and the utilization of resources. Balance Sheet: The basic financial statement, which discloses the assets, liability, and equities of an entity at a specific date in conformity with General Accepted Accounting Principles. Balanced Budget: A budget adopted by the Town Council and authorized by resolution where the proposed expenditures are equal to or less than the proposed revenues plus fund balances. Basis of Accounting: A term used referring to when revenue, expenditures, expenses, and transfers — and related assets and liabilities — are recognized in the accounts and reported in the Town's financial statements. Board of Aldermen: The Mayor and five aldermen collectively acting as the legislative and policymaking body of the town Bond: A written promise to pay a specified sum of money, called the face sum of money, called the principal amount, at a specified date or dates in the future, called the maturity date(s), together with periodic interest at a specified rate. TOWN OF WESTLAKE GLOSSARY OF TERMS Bond Covenant: A legally enforceable agreement with bondholders that requires the governmental agency selling the bond to meet certain conditions in the repayment of the debt. Bond Ordinance: A law approving the sale of bonds that specifies how proceeds may be spent. Bond Funds: Resources derived from issuance of bonds for financing capital improvements. Budget: The Town's financial plan for a specific fiscal year that contains an estimate of proposed expenditures and the proposed means of financing them. Budget Amendment: A revision of the adopted budget that, when approved by the Council, replaces the original provision. Budget Calendar: Schedule of key dates which the Town follows in the preparation and adoption of the budget. Budget Document: Instrument used by the budget -making authority to present a comprehensive financial plan of operations to the Town Council. Budgetary Control: The control or management of the organization in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and revenues. Capital: Any major non-recurring expenditure or expenditure for facilities, including additions or major alterations, construction of highways or utility lines, fixed equipment, landscaping or similar expenditures. 184 Cash Basis: A basis of accounting under which transactions are recognized when cash changes hands. Certificates of Obligations (CO's): Similar to general obligation bonds except certificates require no voter approval. Comprehensive Annual Financial Report (CAFR): This report summarizes financial data for the previous fiscal year in a standardized format. Contingency: A budgetary reserve set aside for emergencies or unforeseen expenditures not otherwise budgeted. Contractual Services: The costs related to services performed for the Town by individuals, businesses, or utilities. Cost: The amount of money or other consideration exchanged for property or services. Cost may be incurred before money is paid; that is, as soon as liability is incurred. Current Assets: Those assets which are available or can be made readily available to finance current operations or to pay current liabilities. Those assets which will be used up or converted into cash within one year. Some examples are cash, temporary investments, and accounts receivable collected within one year. Current Liabilities: Debt or other legal obligation arising out of transactions in the past which must be liquidated, renewed, or refunded within one year. TOWN OF WESTLAKE GLOSSARY OF TERMS Debt Service Fund: A fund used to account for the moneys set aside for the payment of interest and principal to holders of the Town's general obligation and revenue bonds, the sale of which finances long-term capital improvements, such as facilities, streets and drainage, parks and water/wastewater systems. Deficit: The excess of expenditures over revenues during an accounting period; or, in the case of proprietary funds, the excess of expense over income during an accounting period. Department: A major administrative division of the Town that indicates overall management responsibility for an operation or a group of related operations within a functional area. Depreciation: Change in the value of assets (equipment, buildings, etc. with a useful life of 5 years or more) due to the use of the asset. EMS: Emergency Medical Services Encumbrances: The commitment of appropriated funds to purchase an item or service. Enterprise Fund: A fund established to account for operations that are financed and operated in a manner similar to private business enterprises — where the intent of the governing body is that the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. Excess Fund Balance: The excess of a fund's current assets over its current liabilities and required reserve limits. Exempt: Personnel not eligible to receive overtime pay and who are expected to work whatever hours are necessary to complete their job assignments. 185 Expenditures: Outflow or non -enterprise funds paid or to be paid for an asset obtained or goods and services obtained. Expenses: Outflow of enterprise funds paid or to be paid for an asset obtained or goods and services obtained. Fiscal Policy: The Town's policies with respond to spending and debt management as they relate to government services, programs, and capital investments. Reflect a set off principals for the planning and programming of government budgets. Fiscal Year: A 12 -month period to which the annual operating budget applies and at the end of which a government determines its financial position and the result of its operations. The Town of Westlake's fiscal year begins each October 1st and ends the following September 30th. Fixed Assets: Assets of a long-term character, which are intended to continue to be held or used, such as land, buildings, improvements other than buildings, machinery, and equipment. Franchise Fee: A fee levied by the Board of Aldermen on businesses that use Town property or right-of-way. This fee is usually charged as a percentage of gross receipts. Full -Time Equivalent (FTE): The measure of authorized personnel often referred to as worker -years. The full time equivalent of 1 person (1 FTE) approximately represents 2080 hours of work per year. TOWN OF WESTLAKE GLOSSARY OF TERMS Fund: A fiscal and accounting entity with a self - balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. Fund Accounting: A governmental accounting system that is organized and operated on a fund basis. Fund Balance: The excess of a fund's current assets over its current liabilities, sometimes called working capital or fund equity. A negative fund balance is often referred to as a deficit. GAAP -Generally Accepted Accounting Principles: Uniform minimum standards and guidelines for financial accounting and reporting. They govern the form and content of the financial statements of an entity. GAAP encompass the conventions, rules and procedures necessary to define accepted accounting practice at a particular time. They include not only broad guidelines of general applications, but also detailed practices and procedures. GAAP provide a standard by which to measure financial presentations. GASB: Acronym for Government Accounting Standards Board, an independent, non-profit agency responsible for the promulgation of accounting and financial reporting procedures for governmental entities. GFOA: Government Finance Officers Association of the United States and Canada General Fund: The fund used to account for all financial resources except those required to be accounted for in another fund. The General Fund is tax supported. General Obligation Bonds: Bonds sold and guaranteed by the Town, in which the full faith and credit of the Town is pledged for repayment. Governmental Funds: The funds through which most governmental functions typically are financed. The acquisition, use, and financial resources and the related current liabilities are accounted for through governmental funds (General, Special Revenue, Capital Projects, and Debt Service Funds). Goal: Generalized statements of where an organization desires to be at some future time with regard to certain operating elements (e.g. financial condition, service levels provided, etc.) Grant: A contribution by a government or other organization to support a particular function. Typically, these contributions are made to local governments from state or federal governments. Infrastructure: Basic public investments such as streets, storm drainage, water and sewer lines, streetlights and sidewalks. Inter -fund transfer: The transfer of money from one fund to another. Investments: Securities and real estate held for the production of revenues in the form of interest, dividends, rentals, or lease payments. L.F. (Linear feet): Length in feet. TOWN OF WESTLAKE GLOSSARY OF TERMS Lift Station: The Town's collection system relies on gravity to collect water. When the system gets to an unreasonable depth, a lift station pumps the water to a higher elevation so the gravity process can begin again. Line -item budget: A budget format in which departmental outlays are grouped according to the items that will be purchased. MGD: Million gallons per day. Maintenance: The upkeep of physical properties in condition for use or occupancy. Examples are the inspection of equipment to detect defects and the making of repairs. Modified Accrual Accounting: This method of accounting is a combination of cash and accrual accounting since expenditures are immediately incurred as a liability while revenues are not recorded until they are actually received or are "Measurable" and "available for expenditure". This type of accounting basis is conservative and is recommended as the standard for most government funds. Municipal: Of or pertaining to a Town or its government. Non -departmental: Accounts for expenditures or professional services and other general government functions, which cannot be allocated to individual departments. Non-exempt: Personnel eligible to receive overtime pay when overtime work has been authorized or requested by the supervisor. Object Code: The standard classification of the expenditures such as office supplies or rental of equipment. 187 Objectives: Specific, measurable targets set in relation to goals. Operating Budget: Plan for current expenditures and the proposed means of financing them. The annual operating budget is the primary means by which most of the financing, acquisition, spending, and service delivery activities of the Town are controlled. The use of annual operating budgets is required by State law. Operating Expenditure: Expenditure on an existing item of property or equipment that is not a capital expenditure. Ordinance: An authoritative command or order. This term is used for laws adopted by a municipality. Performance Measures: Specific quantitative measures of work performed within an activity or program. They may also measure results obtained through an activity or program. Personnel Services: Expenditures for salaries, wages and related fringe benefits of Town employees. Prompt Payment Act: Adopted in July, 1985 by the State, the Act requires the Town to pay for goods and services within 30 days of receipt of invoice or the goods or services, whichever comes later. If this is not satisfied, the Town may be charged interest on the unpaid balance at the rate of 1% per month. Property Tax Reduction Sales Tax (PTR): % cent sales tax approved by the Town of Westlake voters in May, 2006. Even though the Town assesses no ad valorem property tax, Texas law allowed the Town to collect the new % cent sales tax that does not share the restrictive spending limitations on revenues designated to the 4A Economic Development Fund % cent TOWN OF WESTLAKE GLOSSARY OF TERMS sales tax. 4A sales tax was dissolved and replaced with this sales tax. Proposed Budget: The financial plan initially developed by departments and presented by the Town Manger to the Town Council for approval. Proprietary Funds: Operation that operates like a private operation, in which services are financed through user charges and expenditures include the full cost of operations. Public Hearing: An open meeting regarding proposed operating or capital budget allocations, which provide citizens with an opportunity to voice their views on the merits of the proposals. PVC: Acronym for polyvinyl chloride, a plastic compound used for water and sewer pipes. Reserve: An account used to indicate that a portion of fund resources is restricted for a specific purpose, or is not available for appropriation and subsequent spending. Resolution: A formal statement of opinion or determination adopted by an assembly or other formal group. Resources: Total dollars available for appropriations, including estimated revenues, fund transfers, and beginning fund balances. Retained Earnings: The excess of total assets over total liabilities for an enterprise fund. Retained earnings include both short-term and long-term assets and liabilities for an enterprise fund. Revenues: Funds that the government receives as income. It includes such items a tax payment, fees from specific services, receipts from other governments, fines for forfeitures, grants, shared revenues and interest income. ROW: Acronym for right-of-way. Sales Tax: A general "sales tax" is levied on persons and businesses selling merchandise or services in the town limits on a retail basis. The categories for taxation are defined by state law. Monies collected under authorization of this tax are for the use and benefit of the town. SCADA: Acronym that stands for Supervisory Control and Data Acquisition. SCADA refers to a system that collects data from various sensors at a remote location and then sends this data to a central computer which then manages and controls the data. Special Revenue Fund: A fund used to account for the proceeds of specific revenue sources that are legally restricted to expenditure for specified purposes. Supplies: A cost category for minor items (individually priced at less than $5,000) required by departments to conduct their operations. TMRS: Acronym for the Texas Municipal Retirement System, a pension plan for employees of member cities within the State of Texas. TRA: Trinity River Authority — A separate governmental entity responsible for providing water and wastewater services in the Trinity River basin. The Town contracts with TRA for treatment of wastewater. TXDOT: Texas Department of Transportation Transfer -In: Funds expended in one fund and received in other. TOWN OF WESTLAKE GLOSSARY OF TERMS User Charges: The payment of a fee for direct receipt of a public service by the party benefiting from the service. Working Capital: Budgeted working capital is calculated as a fund's current assets less current liabilities and outstanding encumbrances. Working capital does not include long-term assets or liabilities. For budgetary purposes, working capital, rather than retained earnings, is generally used to reflect the available resources of enterprise funds. lM This page is intentionally blank TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES To establish and document a policy framework for fiscal decision-making, the Town Manager will develop and maintain a comprehensive set of Financial Management Policy Statements. The aim of these policies is to ensure that financial resources are available to meet the present and future needs of the citizens of Westlake. Specifically this policy framework mandates the pursuit of the following fiscal objectives: Revenues: Design, maintain and administer a revenue system that will assure a reliable, equitable, diversified and sufficient revenue stream to support desired Town services. Expenditures: Identify priority services, establish appropriate service levels and administer the expenditure of available resources to assure fiscal stability and the effective and efficient delivery of services. Fund Balance/Retained Earnings: Maintain the fund balance and retained earnings of the various operating funds at levels sufficient to protect the Town's creditworthiness as well as its financial position from emergencies. Capital Expenditures and Improvements: Annually review and monitor the state of the Town's capital equipment and infrastructure, setting priorities for its replacement and renovation based on needs, funding alternatives, and availability of resources. Debt: Establish guidelines for debt financing that will provide needed capital equipment and infrastructure improvements while minimizing the impact of debt payments on current revenues Investments: Invest the Town's operating cash to ensure its safety, provide for necessary liquidity and optimize yield. Intergovernmental Relations: Coordinate efforts with other governmental agencies to achieve common policy objectives, share the cost of providing governmental services on an equitable basis and support favorable legislation at the state and federal level. Grants: Seek, apply for and effectively administer federal, state and foundation grants-in-aid which address the Town's current priorities and policy objectives. Economic Development: Initiate, encourage and participate in economic development efforts to create job opportunities and strengthen the local economy 190 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and forecast the Town's financial performance and economic condition. Financial Consultants: With available resources, seek out and employ the assistance of qualified financial advisors and consultants in the management and administration of the Town's financial functions. Accounting, Auditing and Financial Reporting: Comply with prevailing federal, state and local statutes and regulations. Conform to generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board (GASB), the American Institute of Certified Public Accountants (AICPA), and the Government Finance Officers Association (GFOA). Operating Budget: Prepare, present and approve the Town's annual operating plan. Asset Management: Establish guidelines for all areas of asset management, e.g. Investments, Fixed Assets. 191 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES I. Revenues To design, maintain and administer a revenue system that will assure a reliable, equitable, diversified and sufficient revenue stream to support desired Town services. ■ Balance and Diversification in Revenue Sources -The Town shall strive to maintain a balanced and diversified revenue system to protect the Town from fluctuations in any one source due to changes in local economic conditions which adversely impact that source. ■ User Fees -For services that benefit specific users the Town shall establish and collect fees to recover the costs of those services. The Town Board shall determine the appropriate cost recovery level and establish the fees. Where feasible and desirable, the Town shall seek to recover full direct and indirect costs. User fees shall be reviewed on a regular basis to calculate their full cost recovery levels, to compare them to the current fee structure, and to recommend adjustments where necessary. ■ Property Tax Revenues - The Town shall endeavor to avoid a property tax by revenue diversification, implementation of user fees, and economic development. ■ Utility/Enterprise Funds User Fees - Utility rates and Enterprise Fund's user fees shall be set at levels sufficient to cover operating expenditures, meet debt obligations, provide additional funding for capital improvements, and provide adequate levels of working capital. The Town shall seek to eliminate all forms of subsidization to utility/enterprise funds from the General Fund. ■ Administrative Services Charge - The Town shall establish a method to determine annually the administrative services charges allocated to all funds for overhead and staff support. ■ Revenue Estimates for Budgeting - In order to maintain a stable level of services, the Town shall use a conservative, objective, and analytical approach when preparing revenue estimates. The process shall include analysis of probable economic changes and their impacts on revenues, historical collection rates, and trends in revenues. This approach should reduce the likelihood of actual revenues falling short of budget estimates during the year and should avoid mid -year service reductions. 192 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Revenue Collection and Administration - The Town shall maintain high collection rates for all revenues by keeping the revenue system as simple as possible in order to facilitate payment. In addition, since revenue should exceed the cost of producing it, the Town shall strive to control and reduce administrative costs. The Town shall pursue to the full extent allowed by state law all delinquent taxpayers and others overdue in payments to the Town. II. Expenditures To assure fiscal stability and the effective and efficient delivery of services, through the identification of necessary services, establishment of appropriate service levels, and careful administration of the expenditure of available resources. ■ Current Funding Basis - The Town shall operate on a current funding basis. Expenditures shall be budgeted and controlled so as not to exceed current revenues plus the planned use of fund balance accumulated through prior year savings. (The use of fund balance shall be guided by the Fund Balance/Retained Earnings Policy Statements.) ■ Avoidance of Operating Deficits - The Town shall take immediate corrective actions if at any time during the fiscal year expenditure and revenue re -estimates are such that an operating deficit (i.e., projected expenditures in excess of projected revenues) is projected at year-end. Corrective actions can include a hiring freeze, expenditure reductions, fee increases, or use of fund balance within the Fund. o Balance/Retained Earnings Policy. Expenditure deferrals into the following fiscal year, short-term loans, or use of one-time revenue sources shall be avoided to balance the budget. ■ Maintenance of Capital Assets - Within the resources available each fiscal year, the Town shall maintain capital assets and infrastructure at a sufficient level to protect the Town's investment, to minimize future replacement and maintenance costs, and to continue service levels. ■ Periodic Program Reviews - The Town Manager shall undertake periodic staff and third -party reviews of Town programs for both efficiency and effectiveness. Privatization and contracting with other governmental agencies will be evaluated as alternative approaches to service delivery. Programs which are determined to be inefficient and/or ineffective shall be reduced in scope or eliminated. 193 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Purchasing - The Town shall make every effort to maximize any discounts offered by creditors/vendors. Staff shall also use competitive bidding in accordance to State law to attain the best possible price on goods and services. ■ Prompt Payment —All invoices will be paid within 30 days of receipt in accordance with the prompt payment requirements of State law. III. Fund Balance/Retained Earnings To maintain the fund balance and retained earnings of the various operating funds at levels sufficient to protect the Town's creditworthiness as well as its financial positions from unforeseeable emergencies. ■ General Fund Undesignated Fund Balance - The Town shall strive to maintain the General Fund undesignated fund balance at 90 days of operation. ■ Retained Earnings of Other Operating Funds - In the Utility Fund, the Town shall strive to maintain positive retained earnings positions to provide sufficient reserves for emergencies and revenue shortfalls. ■ Use of Fund Balance/Retained Earnings - Fund Balance/Retained Earnings shall be used only for emergencies, not recurring expenditures, or major capital purchases that cannot be accommodated through current year savings. Should such use reduce the balance below the appropriate level set as the objective for that fund, recommendations will be made on how to restore it. I V . Capital Expenditures and Improvements To annually review and monitor the state of the Town's capital equipment and infrastructure, setting priorities for its replacement and renovation based on needs, funding, alternatives, and availability of resources. ■ Capital Improvement Planning Program - The Town shall annually review the needs for capital improvements and equipment, the current status of the Town's infrastructure, replacement and renovation needs, and potential new projects. All projects, ongoing and proposed, shall be prioritized based on an analysis of current needs and resource availability. For every capital project, all operation, maintenance and replacement costs shall be fully costed. 194 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Replacement of Capital Assets on a Regular Schedule - The Town shall annually prepare a schedule for the replacement of its non -infrastructure capital assets. Within the resources available each fiscal year, the Town shall replace these assets according to the aforementioned schedule. ■ Capital Expenditure Financing - The Town recognizes that there are three basic methods of financing its capital requirements. It can budget the funds from current revenues; it can take the funds from fund balance/retained earnings as allowed by the Fund Balance/Retained Earnings Policy; or it can borrow money through debt. Debt financing includes general obligation bonds, revenue bonds, certificates of obligation, lease/purchase agreements, certificates of participation, and commercial paper. Guidelines for assuming debt are set forth in the Debt Policy Statements. V. Debt To utilize debt financing which will provide needed capital equipment and infrastructure improvements while minimizing the impact of debt payments on current revenues. ■ Use of Debt Financing - Debt financing, to include general obligation bonds, revenue bonds, certificates of obligation, certificates of participation, commercial paper, and lease/purchase agreements, shall only be used to purchase capital assets that can not be financed from either current revenues or fund balance/retained earnings and to fund infrastructure improvements and additions. The useful life of the asset or project shall exceed the payout schedule of any debt the Town assumes. ■ Assumption of Additional Debt - The Town shall not assume more tax -supported general purpose debt than it retires each year without conducting an objective analysis as to the community's ability to assume and support additional debt service payments. ■ Affordability Targets - The Town shall use an objective analytical approach to determine whether it can afford to assume new general purpose debt beyond what it retires each year. This process shall compare generally accepted standards of affordability to the current values for the Town. The process shall also examine the direct costs and benefits of the proposed expenditures. The decision on whether or not to assume new debt shall be based on these costs and benefits and on the Town's ability to "afford" new debt as determined by the aforementioned standards. The Town shall strive to achieve and/or maintain these standards at a low to moderate classification. 195 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Debt Structure - The Town shall structure its debt payment schedules for general purpose debt to ensure level principal repayment schedules. The Town shall not assume any debt with "balloon' repayment schedules which consist of low annual payments and one large payment of the balance due at the end of the term. While balloon payment structures minimize the size of debt payments during the period, they force a large funding requirement on the budget of the final year. Given the uncertainties of the future, level payment schedules improve budget planning and financial management. ■ Sale Process - The Town shall use a competitive bidding process in the sale of debt unless the nature of the issue warrants a negotiated bid. The Town shall award bonds based on a true interest cost (TIC) basis as long as the financial advisor agrees that the TIC basis can satisfactorily determine the lowest and best bid. ■ Bond Rating Agencies Presentations - Full disclosure of operations and open lines of communication shall be made to the bond rating agencies. Town staff, with assistance of financial advisors, shall prepare the necessary materials and presentation to the bond rating agencies. ■ Continuing Disclosure - The Town is committed to continuing disclosure of financial and pertinent credit information relevant to the Town's outstanding securities. ■ Debt Refunding - Town staff and the financial advisor shall monitor the municipal bond market for opportunities to obtain interest savings by refunding outstanding debt. As a general rule, the present value savings of a particular refunding should exceed 3.5% of the refunded maturities. VI. Investments To invest the Town's cash in such a manner so as to insure the absolute safety of principal and interest, to meet the liquidity needs of the Town, and to achieve the highest possible yield. Interest earned from investments shall be distributed to the operating and other Town funds from which the money was provided. VII. Intergovernmental Relations To coordinate efforts with other governmental agencies to achieve common policy objectives, share the cost of providing government services on an equitable basis, and support favorable legislation at the state and federal levels. M2 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Inter -local Cooperation in Delivering Services - In order to promote the effective and efficient delivery of services, the Town shall actively seek to work with other local jurisdictions in joint purchasing consortia, sharing facilities, sharing equitably the costs of service delivery, and developing joint programs to improve service to its citizens. ■ Legislative Program - The Town shall cooperate with other jurisdictions to actively oppose any state or federal regulation or proposal that mandates additional Town programs or services and does not provide the funding to implement them. Conversely, as appropriate, the Town shall support legislative initiatives that provide more funds for priority local programs. VIII. Grants To seek, apply for and effectively administer federal, state and foundation grants-in-aid that address the Town's current priorities and policy objectives. ■ Grant Guidelines - The Town shall apply, and facilitate the application by others, for only those grants that are consistent with the objectives and high priority needs previously identified by Council. The potential for incurring ongoing costs, to include the assumption of support for grant funded positions from local revenues, will be considered prior to applying for a grant. ■ Grant Review - All grant submittals shall be reviewed for their cash match requirements, their potential impact on the operating budget, and the extent to which they meet the Town's policy objectives. If there are cash match requirements, the source of funding shall be identified prior to application. ■ Grant Program Termination - The Town shall terminate grant funded programs and associated positions when grant funds are no longer available unless alternate funding is identified. IX. Economic Development To initiate, encourage and participate in economic development efforts to create job opportunities and strengthen the local economy. ■ Positive Business Environment - The Town shall endeavor, through its regulatory and administrative functions, to provide a positive business environment in which local businesses can grow, flourish and create jobs. The Town Board and Town staff will be sensitive to the needs, concerns and issues facing local businesses. 197 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Commitment to Business Expansion, Diversification, and Job Creation - The Town shall encourage and participate in economic development efforts to expand Westlake's economy to increase local employment. These efforts shall not only focus on newly developing areas but also on other established sections of Westlake where development can generate additional jobs and other economic benefits. ■ Coordinate Efforts with Other Jurisdictions - The Town's economic development program shall encourage close cooperation with other local jurisdictions, chambers of commerce, and groups Interested in promoting the economic well-being of this area. X. Fiscal Monitoring To prepare and present regular reports to analyze, evaluate and forecast the Town's financial performance and economic condition. ■ Financial Status and Performance Reports - Quarterly reports comparing expenditures and revenues to current budget, projecting expenditures and revenues through the end of the year, noting the status of fund balances to include dollar amounts and percentages, and outlining any remedial actions necessary to maintain the Town's financial position shall be prepared for review by the Town Manager and the Council. ■ Compliance with Board Policy Statements - The Financial Management Policy Statements will be reviewed annually by the Board and updated, revised or refined as deemed necessary. Policy statements adopted by the Board are guidelines, and occasionally, exceptions may be appropriate and required. However, exceptions to stated policies will be specifically identified, and the need for the exception will be documented and fully explained. XI. Financial Consultants To employ the assistance of qualified financial advisors and consultants as needed in the management and administration of the Town's financial functions. These areas include but are not limited to investments, debt administration, financial accounting systems, program evaluation, and financial impact modeling. Advisors shall be selected on a competitive basis using objective questionnaires and requests for proposals based on the scope of the work to be performed. 198 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES XII. Accounting, Auditing, and Financial Reporting To comply with prevailing local, state, and federal regulations relative to accounting, auditing, and financial reporting. Accounting practices and financial reporting shall conform to generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board (GASB), the American Institute of Certified Public Accountants, (AICPA), and the Government Finance Officers Association (GFOA). The Board shall select an independent firm of certified public accountants to perform an annual audit of all operations ■ Accounting - Town's Finance Director is responsible for establishing the chart of accounts and for properly recording financial transactions. ■ External Auditing - Town will be audited annually by outside independent accountants (auditors). The auditors must be a CPA firm and must demonstrate significant experience in the field of local government auditing. They must conduct the town's audit in accordance with generally accepted auditing standards and be knowledgeable in the Government Finance Officers Association Certificate of Achievement program. The auditors' report on town's financial statements will be completed within a timely period of the Town's fiscal year-end. The Town will not require auditor rotation, but will circulate request for proposal for audit services on a periodic basis as deemed appropriate. ■ External Financial Reporting - Town will prepare and publish a comprehensive annual financial report (CAFR). The CAFR will be prepared in accordance with generally accepted accounting principles and will be presented annually to the Government Finance Officers Association (GFOA) for evaluation and awarding of the Certificate of Achievement for Excellence in Financial Reporting. ■ Internal Financial Reporting - The Finance Department will prepare internal financial reports sufficient for management to plan, monitor, and control Town's financial affairs. X1111. Operating Budget ■ Preparation — Town's annual operating budget will be prepared by a budget team consisting of the Town Manager, Finance Director and other staff members appointed by the Town Manager to participate. A budget preparation calendar and timetable will be established and followed in accordance with State law. 199 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES ■ Balanced Budget - Current operating revenues including Property Tax Reduction Sales Tax transfers, which can be used for operations, will be sufficient to support current operating expenditures. Annually recurring revenue will not be less than annually recurring operating budget expenditures (operating budget minus capital outlay. Debt or bond financing will not be used to finance current expenditures. ■ Budget Amendments - The Finance Department will monitor all financial operations. The budget team will decide whether to proceed with the budget amendment and, if so, will then present the matter to the Board of Aldermen. If the Board decides a budget amendment is necessary, the amendment is adopted in ordinance format and the necessary budgetary changes are then made. ■ Reporting - Monthly financial reports will be prepared by the Finance Department and distributed to and reviewed by each department head. Information obtained from financial reports and other operating reports is to be used by department heads to monitor and control the budget as authorized by the Town Manager. ■ Performance Measures & Productivity Indicators - Where appropriate, performance measures and productivity indicators will be used as guidelines and reviewed for efficiency and effectiveness. This information will be included in the annual budget process. XIV. Asset Management ■ Investments — The Town's Board of Aldermen have formally approved a separate Investment Policy for the Town of Westlake that meets the requirements of the Public Funds Investment Act (PFIA), Section 2256 of the Texas Local Government Code. Town's investment practices will be conducted in accordance with this policy. ■ Cash Management -Town's cash flow will be managed to maximize the cash available to invest. ■ Investment Performance - As per state law, the Finance Director will issue quarterly reports on investment activity to the Board of Aldermen. ■ Fixed Assets and Inventory - Such assets will be reasonably safeguarded and properly accounted for and prudently insured. The fixed asset inventory will be updated regularly. 200 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES Capitalization Criteria — For purposes of budgeting and accounting classification, the following criteria must be capitalized: o The asset is owned by the Town of Westlake o The expected useful life of the asset must be longer than one year, or extend the life on an identifiable existing asset by more than one year o The original cost of the asset must be at least $5,000 o The asset must be tangible o On-going repairs and general maintenance are not capitalized o New Purchases — All costs associated with bringing the asset into working order will be capitalized as part of the asset cost. This will include start up costs, engineering or consultant type fees as part of the asset cost once the decision or commitment to purchase the asset is made. The cost of land acquired should include all related costs associated with its purchase o Improvements and Replacement — Improvement will be capitalized when they extend the original life of an asset or when they make the asset more valuable than it was originally. The replacement of assets components will normally be expenses unless they are a significant nature and meet all the capitalization criteria. 201 TOWN OF WESTLAKE INVESTMENT POLICY I. POLICY STATEMENT It is the policy of the Town of Westlake (the "Town") that the administration of its funds and the investment of those funds shall be handled as its highest public trust. Investments shall be made in a manner which will provide the maximum security of principal invested through limitations and diversification while meeting the daily cash flow needs of the Town and conforming to all applicable state and Town statutes governing the investment of public funds. The receipt of a market rate of return will be secondary to the requirements for safety and liquidity. It is the intent of the Town to be in complete compliance with local law and the Texas Public Funds Investment Act (the "Act", Texas Government Code 2256). The earnings from investments will be used in a manner that best serves the public trust and interests of the Town. II. SCOPE This Investment Policy applies to all the financial assets and funds held of the Town. Any new funds created by the Town will be managed under the provisions of this Policy unless specifically exempted by the Town Board of Aldermen and this Policy. III. OBJECTIVES AND STRATEGY It is the policy of the Town that all funds shall be managed and invested with four primary objectives, listed in order of their priority: safety, liquidity, diversification and yield. These objectives encompass the following. Safety of Principal Safety of principal is the foremost objective of the Town. Investments shall be undertaken in a manner that seeks to insure the preservation of capital in the overall portfolio. The suitability of each investment decision will be made on the basis of safety. Liquidity The Town's investment portfolio will remain sufficiently liquid to enable it to meet all operating requirements which might be reasonably anticipated. Investment decisions will be based on cash flow analysis of anticipated expenditures. 202 TOWN OF WESTLAKE INVESTMENT POLICY Nworcifirotinn Diversification is required in the portfolio's composition. Diversification of the portfolio will include diversification by maturity and market sector and will include the use of a number of broker/dealers or banks for diversification and market coverage. Competitive bidding will be used on each sale or purchase. Yield The Town's investment portfolio shall be designed with the objective of attaining a reasonable market yield, taking into account the Town's risk constraints and cash flow needs. A reasonable market yield for the portfolio will be defined as the six month (180 day) U.S. Treasury Bill which compares to the portfolio's maximum weighted average maturity of six months. The authorized investment purchased will be of the highest credit quality and marketability supporting the objectives of safety and liquidity. Securities, when not matched to a specific liability, will be short term to provide adequate liquidity. The portfolio shall be diversified to protect against market and credit risk in any one sector. The maximum weighted average maturity of the portfolio will be no more that 180 days and the maximum stated maturity of any security will not exceed two years. The funds are combined for investment purposes but the unique needs of all the funds in the portfolio are recognized and represented. Effective cash management is recognized as essential to good fiscal management. Cash management is defined as the process of managing monies in order to ensure maximum cash availability. The Town shall maintain a cash management program which includes timely collection of accounts receivable, prudent investment, disbursement of payments within invoice terms and the management of banking services. IV. LEGAL LIMITATIONS, RESPONSIBILITIES AND AUTHORITY Specific investment parameters for the investment of public funds in Texas are stipulated in the Public Funds Investment Act, Chapter 2256, Texas Government Code, (the "Act"). The Act is attached as Exhibit A. The Public Funds Collateral Act, Chapter 2257, Texas Government Code, specifies collateral requirements for all public funds deposits. The Collateral Act is attached as Exhibit B. 203 TOWN OF WESTLAKE INVESTMENT POLICY The Interlocal Cooperation Act, Chapter 791, Texas Government Code, authorizes local governments in Texas to participate in a Texas investment pool established thereunder. V. DELEGATION OF INVESTMENT AUTHORITY The Finance Director, acting on behalf of the Board of Aldermen, is designated as the Investment Officer of the Town and is responsible for all investment management decisions and activities. The Board of Aldermen is responsible for considering the quality and capability of staff, investment advisors, and consultants involved in investment management and procedures. All participants in the investment process shall seek to act responsibly as custodians of the public trust. The Investment Officer shall develop and maintain written administrative procedures for the operation of the investment program which are consistent with this Investment Policy. Procedures will include safekeeping, wire transfers, banking services contracts, and other investment related activities. The Investment Officer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials and staff. The Investment Officer shall designate a staff person as a liaison/deputy in the event circumstances require timely action and the Investment Officer is not available. No officer or designee may engage in an investment transaction except as provided under the terms of this Policy and the procedures established by the Investment Officer and approved by the Town Manager. VI. PRUDENCE The standard of prudence to be used in the investment function shall be the "prudent person" standard and shall be applied in the context of managing the overall portfolio. This standard states: "Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the expected income to be derived." 204 TOWN OF WESTLAKE INVESTMENT POLICY Limitation of Personal Liabil The Investment Officer and those delegated investment authority, when acting in accordance with the written procedures and this Policy and in accord with the Prudent Person Rule, shall be relieved of personal liability in the management of the portfolio provided that deviations from expectations for a specific security's credit risk or market price change are reported in a timely manner and that appropriate action is taken to control adverse market effects. VII. INTERNAL CONTROLS The Investment Officer shall establish a system of written internal controls which will be reviewed annually with the independent auditor of the Town. The controls shall be designed to prevent loss of public funds due to fraud, employee error, misrepresentation by third parties, or imprudent actions by employees of the Town. VIII. AUTHORIZED INVESTMENTS Acceptable investments under this policy shall be limited to the instruments listed below. The choice of high-grade government investments and high-grade, money market instruments are designed to assure the marketability of those investments should liquidity needs arise. A. Obligations of the United States Government, its agencies and instrumentalities, not to exceed two (2) years to stated maturity, and excluding mortgage backed securities; B. Fully insured or collateralized certificates of deposit from a bank doing business in the State of Texas and under the terms of a written depository agreement with that bank, not to exceed one year to stated maturity; C. No-load, SEC registered money market mutual funds. No more than 80% of the entity's monthly average balance may be invested in money market funds D. Public Funds interest bearing accounts; and E. Constant dollar, AAA -rated Texas Local Government Investment Pools as defined by the Public Funds Investment Act. If additional types of securities are approved for investment by public funds by state statute, they will not be eligible for investment until this Policy has been amended and the amended version adopted by the Board of Aldermen. 205 TOWN OF WESTLAKE INVESTMENT POLICY Delivery versus Pavment All investment security transactions shall be conducted on a delivery versus payment (DVP) basis to assure that the Town has control of its assets and/or funds at all times. IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS Securities broker/dealers may be primary or regional broker/dealers and will meet other criteria as determined by the Investment Officer including state registration and completion of a Town Broker/Dealer questionnaire (attached as Exhibit D). The following criteria must be met by authorized firms. - annual provision of an audited financial statement, - proof of certification by the National Association of Securities Dealers (NASD) - proof of current registration with the Texas State Securities Commission, and - completion of the Town's broker/dealer questionnaire. Every bank and broker/dealer with whom the Town transacts business will be provided a copy of this Investment Policy to assure that they are familiar with the goals and objectives of the investment program. The firm will be required to return a signed copy of the Certification Form (attached as Exhibit C) certifying that the Policy has been received and reviewed and only those securities approved by the Policy will be sold to the Town. X. DIVERSIFICATION AND MATURITY LIMITATIONS It is the policy of the Town to diversify its investment portfolio. Invested funds shall be diversified to minimize risk or loss resulting from over -concentration of assets in a specific maturity, specific issuer, or specific class of securities. Diversification strategies shall be established and periodically reviewed. XI. SAFEKEEPING AND COLLATERALIZATION The laws of the State and prudent treasury management require that all purchased securities be bought on a delivery versus payment (DVP) basis and be held in safekeeping by either an approved, independent third party financial institution or the Town's designated depository. Securities Owned by the Town All safekeeping arrangements shall be approved by the Investment Officer and an agreement of the terms executed in writing. The safekeeping bank may not be within the same holding company as the bank from which the securities are purchased. The custodian shall be required to issue original safekeeping receipts to the Town listing each specific security, rate, description, maturity, cusip number, and other pertinent information. 206 TOWN OF WESTLAKE INVESTMENT POLICY Collateral Collateralization shall be required on all bank time and demand deposits for principal and accrued interest amounts over the FDIC insurance coverage of $100,000 (by tax identification number). In order to anticipate market changes and provide a level of additional security for all funds, collateral with a market value equal to 102% of the total deposits are required. The pledging bank will be made contractually liable for monitoring and maintaining the collateral levels at all times. All collateral will be held by an independent third party bank outside the holding company of the bank, pledged to the Town. Authorized collateral will include only: - Obligations of the US Government, its agencies and instrumentalities to include mortgage backed securities which pass the bank test, - Municipal obligations rated at least A by two nationally recognized rating agencies. The custodian shall be required to provide original safekeeping receipts clearly marked that the security is pledged to the Town. XII. REPORTING The Investment Officer shall submit quarterly reports to the Board of Aldermen containing sufficient information to permit an informed outside reader to evaluate the performance of the investment program and in full compliance with the Act. At a minimum the report shall contain: - Beginning and ending market value of the portfolio by market sector and total portfolio - Beginning and ending book value of the portfolio by market sector and total portfolio - Change in market value during the period - Detail on each asset (book, market, description, par ad maturity date) - Earnings for the period - Overall weighted average maturity of the portfolio The report will be prepared jointly by all involved in the investment activity and be signed by the Investment Officer. It will contain all elements as required by the Act and be signed by the Investment Officers as in compliance with the Act and this Policy. Market prices for assignment of market values will be obtained from an independent source. The three month 207 TOWN OF WESTLAKE INVESTMENT POLICY Treasury Bill average yield for the reporting period will be reported as a gauge of performance and risk. XIII. DEPOSITORIES The Town will designate one banking institution through a competitive process as its central banking services provider at least every five years. This institution will be used for normal banking services including disbursements, deposits, and safekeeping of Town owned securities. Other banking institutions from which the Town may purchase only certificates of deposit will also be designated as a depository. All banking arrangements will be in written form in accordance with FIRREA which requires a resolution of approval of the agreement by the Bank Council or Bank Loan Committee. XIV. INVESTMENT POLICY ADOPTION BY BOARD The Town's Investment Policy and its incorporated strategies shall be adopted by resolution annually by the Board. The approval and any changes made to the Policy will be noted in the approving resolution. 208 This page is intentionally blank Position 7ir FY FY FY FY FY Executive Assistant 04/05 05/06 06/07 07/08 08/09 Town Manager 1.00 1.00 1.00 1.00 1.00 Executive Assistant 1.00 1.00 1.00 1.00 1.00 Part -Time Intern 0.50 0.50 0.00 0.00 0.00 Firemen/Paramedics 9.00 10.00 10.00 1.00 1.00 Parks & Recreation 1.00 Building Official 1.00 1.00 0.50 Municipal Court Clerk 1.00 1.00 1.00 1.00 Town Secretary 1.00 1.00 1.00 1.00 1.00 Finance Assistant 1.00 1.00 1.00 1.00 1.00 Fire/EMS Coordinator 1.00 1.00 1.00 1.00 1.00 Firemen/Paramedics 9.00 10.00 10.00 10.00 10.00 Parks & Recreation 0.50 0.50 0.50 0.50 0.50 Municipal Court Clerk 1.00 1.00 1.00 1.00 1.00 Municipal Court Deputy Clerk 1.75 1.75 2.00 2.00 2.00 Municipal Court Judge 1.00 1.00 1.00 1.00 1.00 Municipal Court Marshal 0.00 0.00 0.00 1.00 1.00 Municipal Court Warrant Officer 1.00 1.00 1.00 0.00 0.00 Public Works Superintendent 1.00 1.00 1.00 1.00 1.00 Utility & Building Technician 0.00 0.00 0.00 0.50 0.50 Facilities/Grounds Maintenance 0.50 0.50 0.50 0.50 0.50 Utility & Building Technician 0.00 0.00 0.00 0.25 0.25 Finance Director 1.00 1.00 1.00 1.00 1.00 Human Resources Manager 1.00 1.00 1.00 1.00 0.00 Finance Assistant 1.00 1.00 1.00 1.00 1.00 Records & Revenue Clerk 0.00 0.00 0.00 1.00 1.00 Parks & Recreation 0.50 0.50 0.50 0.50 0.50 Utility & Building Technician 0.00 0.00 0.00 0.25 0.25 Payroll/Human Resources 0.00 0.00 0.00 0.00 1.00 Marketing & Public Affairs 1.00 1.00 0.00 0.00 0.00 Total 25.25 26.25 25.00 27.00 27.00 209 This page is intentionally blank Service Level Adjustments - Approved Requests - All Funds 210 Maintain Current Level (20,049) Payroll Adj's 2,672 EXPANDED LEVEL One Time Recurring Costs Costs 57,500 87,438 SAVINGS/ EVENUES Increased .. ReductionsDescription Revenues 127,561 464,352 N 464,352 11 Administrative 12 Planning & Zoning (3,344) 6,443 88,250 - 91,349 69,050 69,050 13 Town Secretary (7,094) 2,173 - (4,921) 11,518 11,518 14 Emergency Sry 94,681 23,379 - - 118,060 - 15 Municipal Court 856 5,668 16,350 1,600 24,474 19,452 19,452 16 Public Works (4,087) 1,469 - - (2,618) - - - 17 Facilities Maint 23,983 2,406 8,643 35,032 18 Finance (65,455) 5,570 - (59,885) - 19 Parks & Recreation (16,968) 2,423 (14,545) 20 Information Tech 13,870 - 13,870 21 HR/Admin Services 57,871 1,627 - 3,500 62,998 - - General Fund 74,264 53,830 162,100 101,181 391,375 564,372 - 564,372 00 Utility Fund 1,103 3,383 - - 4,486 - - 11 Administrative (44,970) 572 - (44,398) 16 Public Works 62,401 341 64,700 127,442 18 Finance (3,936) 2,301 - (1,635) 21 HR/Admin Services 13,001 975 - 13,976 - - Utility Fund 27,600 7,572 64,700 - 99,872 - - - 11 Administrative (27,655) 572 152,240 13,650 138,807 30,000 30,000 17 Facilities Maint (509) 694 - - 185 - - 18 Finance (10,803) 1,631 (9,172) 19 Parks and Rec (698) 694 (4) 21 HR/Admin Services 19,914 3,378 - - 23,292 - - Visitors Fund (19,752) 6,969 152,240 13,650 153,107 30,000 - 30,000 00 Cemetery Fund 13,333 - 5,000 7,796 23,686 - - Cemetery Fund 13,333 - 5,000 7,796 23,686 - - - 00 Vehicle/Equipment - 6,900 - 6,900 - Vehicle/Equipment - - 6,900 - 6,900 - - - 00 GF Major Maint 90,500 90,500 20,000 20,000 GF Major Maint Fund - - 90,500 - 90,500 - 20,000 20,000 210 Fund 100 - General Fund 0 Service Level Adjustments - Approved Dept Acct Description of Item Maintain Current Level of Service NEW OR EXPANDED LEVEL Payroll One Adjustment Time Recurring Costs Costs Costs TOTAL SAVINGS Revenue Expense Enhancment Reduction TOTAL 11 100.43325.11 Legislative (WA $7500) 25,000 12,500 7,500 12 7,500 (82) - 11 100.44306.11 Master Plans/Surveys - various Administrative Asst 50,000 14 100.45310.14 Mobile Telephone 50,000 3,250 3,250 11 100.45805.11 Travel Airfare 800 (3,262) - - 800 various Payroll & Related Benefits increase - 11 100.45810.11 Car Rental/Parking 425 14 100.46125.14 Printing Dept 12 Planning and Zoning (3,344)1 425 91,349 69,050 11 100.45815.11 Travel Lodging 1,700 13 various Administrative Asst 50% - 1,700 11,518 11 100.45820.11 Travel Meals 529 1,436 - 529 13 various Payroll & Related Benefits increase 11 100.46115.11 Dues & Subscriptions 4,500 Dept 13 Town Secretary 4,500 2,173 (4,921) 11 100.46522.11 Economic Development - Fidelity 1 67 67 11 100.46522.11 Economic Development - Fidelity II 116,110 116,110 116,110 116,110 11 100.46525.11 Economic Development - Deloitte 348,242 348,242 348,242 348,242 11 various Offsetting Expenditure Reductions (580,205) - (580,205) - 11 100.43130.11 Market Adjustments/Potential new - 87,438 87,438 11 various Maintain Current Payroll & Related Benefits 87,784 - 87,784 11 various Payroll & Related Benefits increase - 2,672 - - 2,672 - Dept 11 Administrative (20,049) 2,672 1 57,500 87,438 1 127,561 464,352 464,352 12 100.43260.12 Third Party Inspections 63,250 63,250 53,300 53,300 12 100.43336.12 Contract Services - 25,000 25,000 12,500 12,500 12 various Offsetting Expenditure Reductions (82) - (82) - 12 various Administrative Asst - 14 100.45310.14 Mobile Telephone 1,196 1,196 3,250 3,250 12 various Maintain Current Payroll & Related Benefits (3,262) 195 195 (3,262) - - 12 various Payroll & Related Benefits increase - 6,443 - 6,443 30 30 14 100.46125.14 Printing Dept 12 Planning and Zoning (3,344)1 6,443 88,250 91,349 69,050 69,050 13 various Offsetting Expenditure Reductions (8,530) - - (8,530) - - 13 various Administrative Asst 50% - 2,840 2,840 11,518 11,518 13 various Maintain Current Payroll & Related Benefits 1,436 1,436 - 13 various Payroll & Related Benefits increase - 21173 2,173 - Dept 13 Town Secretary (7,094) 2,173 (4,921) 11,518 11,518 14 100.43140.14 Employee Physicals 1,600 1,600 14 100.43255.14 Keller Police Contract 30,173 30,173 14 100.43334.14 EMS User Fee Payment 17,110 17,110 14 100.43405.14 Computer Eqpmt/Software 1,660 1,660 14 100.44209.14 Cleaning Supplies 480 480 14 100.44212.14 Building Supplies Maintenance 1,980 1,980 14 100.44213.14 Firefighter Supplies 2,317 2,317 14 100.44306.14 Grounds Maintenance 1,100 1,100 14 100.45310.14 Mobile Telephone 1,196 1,196 14 100.45815.14 Travel Lodging 580 580 14 100.45820.14 Travel Meals 195 195 14 100.45825.14 Travel Mileage 200 200 14 100.45830.14 Training/Seminars/Meetings 3,025 3,025 14 100.46106.14 Hospitality 30 30 14 100.46125.14 Printing 35 35 14 100.46215.14 Vehicle Fuel 2,670 2,670 14 100.46216.14 Vehicle Repair & Maintenance 15,000 15,000 14 100.46605.14 Uniforms 21 21 14 100.46615.14 Medical Supplies 2,840 2,840 14 various Offsetting Expenditure Reductions (15,355) (15,355) 14 variousMaintain Current Payroll & Related Benefits 27,824 27,824 14 1 various I Payroll & Related Benefits increase - 23,379 23,379 Dept 14 Emergency Services 94,681 23,379 118,060 211 Fund 100 - General Fund 0 Service Level Adjustments - Approved 15 100.43330.15 Increase Judges Salary - Maintain Current NEW OR EXPANDED LEVELSAVINGS 16 15 100.45214.15 Auto Insurance Payroll One 23 various 15 100.45820.15 Travel Meals Level Adjustment Time Recurring 15 Revenue Expense 250 Dept Acct Description of Item of Service Costs Costs Costs TOTAL Enhancment Reduction TOTAL 15 100.43330.15 Increase Judges Salary - 26 26 1,600 1,600 16 15 100.45214.15 Auto Insurance 23 17 100.43352.17 Contract Electrical/Lighting 23 various 15 100.45820.15 Travel Meals 200 16 200 Payroll & Related Benefits increase 15 100.45825.15 Travel Mileage 250 (4,087) 1,469 (2,618) 250 15 100.46120.15 Postage & Supplies 750 17 100.45830.17 Training/Seminars/Meetings 750 15 1100.46165.15 Mobile Data Terminal - 4,850 4,850 15 100.46170.15 Security Upgrades in Court Lobby - 10,000 10,000 15 100.46216.15 Vehicle Repair & Maintenance 3,000 - 3,000 15 various Offsetting Expenditure Reductions (9,051) - (9,051) 15 various New Deputy Court Clerk/Warrant - 1,500 1,500 19,452 19,452 15 various Maintain Current Payroll & Related Benefits 5,684 - 5,684 - 15 1 various I Payroll & Related Benefits increase - 5,668 - 5,668 - Dept 15 Municipal Court 856 5,668 16,350 1,600 24,474 19,452 19,452 16 100.45214.16 Insurance Automobile 26 26 1,000 1,000 16 various Offsetting Expenditure Reductions (5,480) (5,480) 17 100.43352.17 Contract Electrical/Lighting 16 various Maintain Current Payroll & Related Benefits 1,367 1,367 16 various Payroll & Related Benefits increase - 1,469 1,469 200 200 Dept 16 Public Works (4,087) 1,469 (2,618) 1,500 1,500 17 100.43220.17 Painting Supplies 1,500 1,500 Expenditures - transferred to dept 21 17 100.43224.17 Sanitation Supplies 1,000 1,000 17 100.43344.17 Contract Median maintenance 2,000 2,000 1,424 1,424 17 100.43352.17 Contract Electrical/Lighting 6,000 6,000 various 17 100.43347.17 Contract HVAC Maintenance 4,000 4,000 17 1100.44306.17 Grounds Maintenance 11,000 11,000 Payroll & Related Benefits increase 17 100.45310.17 Mobile Phone 200 200 Dept 18 Finance 11 17 100.45325.17 Misc Rental/Lease 1,500 1,500 17 100.45326.17 Storage lease 5,000 5,000 17 100.45830.17 Training/Seminars/Meetings 1,500 1,500 17 100.45906.17 Fire/Life R&M 4,000 4,000 17 100.46115.17 Dues & Subscriptions 400 400 17 100.46216.17 Vehicle R&M 785 785 17 various Offsetting Expenditure Reductions (17,802) - (17,802) 17 various Admin Asst Part-time (16.66%) 3,843 3,843 17 various Maintain Current Payroll & Related Benefits 2,900 4,800 7,700 17 various Payroll & Related Benefits increase - 2,406 - 2,406 Dept 17 Facilities Maintenance 23,983 2,406 8,643 35,032 18 various Expenditures - transferred to dept 21 (16,014) (16,014) - 19 various Offsetting Expenditure Reductions Printing 1,424 1,424 19 various Maintain Current Payroll & Related 18 various Payroll & Related - transferred to dept (50,865) (50,865) 18 various Payroll & Related Benefits increase - 5,570 5,570 Dept 18 Finance 11 (65,455)l 5,570 1 (59,885) 19 100.43349.19 GW Farms Landscaping 1,000 1,000 19 100.47410.17 Ford F150 Truck - 19 various Offsetting Expenditure Reductions (20,289) (20,289) 19 various Maintain Current Payroll & Related 2,321 - 2,321 19 various Payroll & Related Benefits increase - 2,423 2,423 Dept 19 Parks & Recreation (16,968) 2,423 (14,545) 212 Fund 100 - General Fund 0 Service Level Adjustments - Approved 20 100.43266.20 Software/Hardware Maint Contracts 6,000 6,000 Pre -Employment Testing Maintain Current NEW OR EXPANDED LEVEL SAVINGS 1,000 1,000 Payroll One (8,130) (8,130) Dept 20 Information Technology 13,870 13,870 Level Adjustment Time Recurring 21 Revenue Expense Advertising Dept Acct Description of Item of Service Costs Costs Costs TOTAL Enhancment Reduction TOTAL 20 100.43266.20 Software/Hardware Maint Contracts 6,000 6,000 Pre -Employment Testing 20 100.43267.20 System Admin & Support 15,000 15,000 20 100.43415.20 Website Development Maintenance 1,000 1,000 Flex Plan Out -Sourcing 20 various Offsetting Expenditure Reductions (8,130) (8,130) Dept 20 Information Technology 13,870 13,870 Timekeeping System 21 100.43135.21 Pre -Employment Testing 750 - 750 21 100.43336.21 Flex Plan Out -Sourcing 3,500 3,500 21 100.43405.21 Timekeeping System 21 100.45405.21 Advertising 500 - 500 21 100.45825.21 Travel Mileage 150 150 21 1100.45830.21 Training/Seminars/Meetings 500 500 21 100.46105.21 Office Supplies 500 500 21 100.46106.21 Hospitality Items 150 150 21 100.46115.21 Dues & Subscriptions 800 800 21 100.46190.21 Misc. Expense 250 250 21 various Offsetting Expenditure Reductions 21 NEW Admin Asst 50% (70% GF) - 21 various Maintain Current Payroll & Related Benefits 54,271 - 54,271 21 various Payroll & Related Benefits increase - 1,627 1,627 Dept 21 HR/Admin Services 57,871 1,627 3,500 62,998 TOTAL GENERAL FUND $ 74,264 $ 53,830 $ 162,100 $ 101,1811 $ 391,375 $ 564,372 $ $ 564,372 213 Service Level Adjustments - Approved 11 various Maintain Current Payroll & Related Maintain Current NEW OR EXPANDED LEVEL 18 SAVINGS various PayrollOne 1,103 1,103 11 00 various Level Adjustment Time Recurring Dept 00 Utility Fund Revenue Expense I 4,486 Dept Acct Description of Item of Service Costs Costs Costs TOTAL Enhancment Reductions TOTAL 11 various Maintain Current Payroll & Related (61,371) 10,000 18 00 various Benefits 1,103 1,103 11 00 various Payroll & Related Benefits increase - 37383 3,383 - Dept 00 Utility Fund 1,103 3,383 4,486 Dept 21 HR/Admin Services 11 various Offsetting Expenditure Reductions (61,371) 10,000 18 16 (61,371) 2,725 Benefits 2,725 11 various Maintain Current Payroll & Related 16,401 - 55,994 - 16,401 500-44110-16 peak Payment 50,425 Dept 21 HR/Admin Services 50,425 975 13,976 Benefits 500-44111-16 Tower Landscape Maintenance 2,000 2,000 16 500-44115-16 TRA Wastewater Treatment 17,000 11 various Payroll & Related Benefits increase - 572 3,000 572 16 500-44118-16 Instrument Maintenance Dept 11 Administrative (44,970) 572 16 (44,398) 1,000 - 1,000 16 500-43220-16 Water Utility Engineering 10,000 (3,936) - (3,936) 10,000 18 16 500-43250-16 Auditor 2,725 Benefits 2,725 (3,936) 2,301 (1,635) 16 500-44105-16 Water Purchases 55,994 various 55,994 - 16 500-44110-16 peak Payment 50,425 Dept 21 HR/Admin Services 50,425 975 13,976 16 500-44111-16 Tower Landscape Maintenance 2,000 2,000 16 500-44115-16 TRA Wastewater Treatment 17,000 17,000 16 500-44117-16 Lift Station Maintenance 3,000 3,000 16 500-44118-16 Instrument Maintenance - 17,500 17,500 16 500-44120-16 Southlake Wastewater Treatment 1,000 - 1,000 16 500-44122-16 Water Testing 500 500 16 500-44130-16 Meter Repair/Replacement 475 - 475 16 500-44135-16 Utility Billing Services - 7,200 7,200 16 500-45215-16 Property Insurance 52 - 52 16 500-45830-16 Training/Seminars/Meetings 400 400 16 500-46115-16 Dues and subcriptions 100 100 16 500-46216-16 Vehicle Repair & Maintenance 900 900 16 500-46221-16 Electric -Pump station 5,000 - 5,000 16 500-47411-16 Backup Generator - 40,000 40,000 16 500-48810-16 DS - Keller OHS Principal/Int 799 - 799 16 500-48820-16 DS - Hillwood Service Area 11,000 11,000 16 various Offsetting Expenditure Reductions (105,141) (105,141) 16 various Maintain Current Payroll & Related Benefits 6,173 6,173 16 various Payroll & Related Benefits increase - 341 - 341 Dept 16 Public Works 62,401 341 64,700 127,442 18 various Payroll & Related - transferred to (3,936) - (3,936) 15,000 15,000 18 various Payroll & Related Benefits increase - 2,301 2,301 Benefits Dept 18 Finance (3,936) 2,301 (1,635) 99 500.62510.99 Transfer out to GF $30K 47,000 47,000 Maintain Current Payroll & Related 99 Transfer to UFMM 15,000 15,000 99 Offsetting Expenditure Reductions 21 various Benefits 13,001 - 13,001 21 various Payroll & Related Benefits increase - 975 975 Dept 21 HR/Admin Services 13,001 975 13,976 99 500.62510.99 Transfer out to GF $30K 47,000 47,000 99 Transfer to UFMM 15,000 15,000 99 Offsetting Expenditure Reductions (40,000) (40,000) Dept 99 Transfers Out 22,000 22,000 TOTAL UTILITY FUND $ 27,600 1 $ 7,572 1 $ 86,700 1 $ - $ 121,872 $ $ $ 214 Service Level Adjustments -Approved 11 220.43250.11 Auditor Maintain Current NEW OR Payroll EXPANDED LEVEL 2,975 SAVINGS 0 0 One 220.43415.11 Website development 2,225 Level Adjustment Time Recurring Revenue Expense I 11 Det Acct Description of Item of Service Costs Costs Costs TOTAL Enhancment Reductions TOTAL 11 220.43250.11 Auditor 2,975 0 0 0 2,975 0 0 0 various 220.43415.11 Website development 2,225 Dept 17 Facilities Maintenance (509)1 694 0 1 185 0 0 1 0 2,225 11 220.43510.11 Arbor Days/Tree City 500 0 0 0 500 0 0 0 11 220.43505.11 Historical Board 0 0 30,000 30,000 11 220.43506.11 Public Arts 0 8,500 8,500 0 0 0 11 220.43526.11 Masterworks 6,250 0 0 0 65250 0 0 0 11 220.43531.11 Marketing & Promotions 6,500 0 10,450 16,950 0 0 0 11 220.43336.11 Contract Services 50,000 505000 11 220.43530.11 Marriott Transportation 56,260 0 93,740 0 1505000 0 0 0 220.456210.11 Special Events 3,200 3,200 11 various Offsetting Expenditure Reductions (121,023) 0 0 0 (1215023) 0 0 0 11 various Maintain Current Payroll & Related Benefits 18,658 0 0 0 185658 0 0 0 11 various Payroll & Related Benefits increase 0 572 0 0 572 0 0 0 Dept 11 Administrative (275655) 572 1525240 13,650 1385807 30,000 30,000 17 various Maintain Current Payroll & Related (509) 0 0 0 (509) 0 0 0 Benefits Benefits 21 various I Payroll & Related Benefits increase 17 various I Payroll & Related Benefits increase 0 694 0 1 0 1 694 0 0 1 0 Dept 17 Facilities Maintenance (509)1 694 0 1 185 0 0 1 0 18 various 21 yroll & Related - transferred to dept (10,803) 0 0 0 (10,803) 0 0 0 Benefits Benefits 21 various I Payroll & Related Benefits increase 18 1 various JPayroll & Related Benefits increase 0 1,631 0 0 1,631 0 0 0 Dept 18 Finance (10,803) 1,631 0 0 (9,172) 0 0 0 19 various Maintain Current Payroll & Related (698) 0 0 0 (698) 0 0 0 Benefits Benefits 21 various I Payroll & Related Benefits increase 19 various JPayroll & Related Benefits increase 0 694 0 0 694 0 0 0 Dept 19 Parks and Recreation (698) 694 0 0 JL (4) 0 0 0 21 various Maintain Current Payroll & Related 19,914 0 0 0 19,914 0 0 0 Benefits 21 various I Payroll & Related Benefits increase 0 3,378 0 0 3,378 0 0 0 Dept 21 HR/Admin Services 195914 35378 0 0 235292 0 0 0 TOTAL VISITOR FUND 11 $ (19,7,52)1 $ 6,969 1 $ 152,240 1 $ 13,650 1 $ 153,107 11 $ 30,000 $ $ 30,000 215 Service Level Adjustments -Approved Dept Acct Description of Item 00 255.43336.00 Contract Services 00 255.43340.00 Irrigation 00 255.44216.00 Ground Supplies 00 255.44306.00 Grounds Maintenance 0 255.46216.00 Vehicle R&M/Fuel 00 255.45830.00 Training/Meetings/Seminars 00 255.46115.00 Dues & Memberships 0 255-46190.00 Miscellaneous Supplies 19 NEW Part Time Admin Assistant 0 various Offsetting Expenditure Reductions 13,333 Dept 00 Cemetery Fund Maintain Current NEW OR EXPANDED LEVEL 5,000 Payroll One 1,000 Level Adjustment Time Recurring of Service Costs Costs Costs TOTAL SAVINGS 5,000 5,000 1,000 Expense 1,000 14,700 Reductions 14,700 6,400 6,400 2,000 2,000 1,000 1,000 - 400 400 2,443 - - 6,396 6,396 (13,210) 0 0 0 (13,210) 13,333 5,000 7,796 23,686 SAVINGS Revenue [Enhancment Expense Reductions TOTAL TOTAL CEMETERY FUND 11 $ 13,333 1 $ $ 5,000 1 $ 7,796 1 $23,686 1 $ $ $ - 216 Fund 257 - Vehicle & Equipment Replacement Fund Service Level Adjustments - Approved 00 257.47415.13 Furniture & Fixtures 4,800 4,800 Maintain Current NEW OR Payroll EXPANDED LEVEL SAVINGS 6,900 6,900 One Level Adjustment Time Recurring Revenue Expenditure I Dept Acct Description of Item of Service Costs Costs Costs TOTAL Enhancement Reduction TOTAL 00 257.47415.13 Furniture & Fixtures 4,800 4,800 00 257.47415.14 Furniture & Fixtures 2,100 2,100 Dept 00 Vehicle & Equipment 6,900 6,900 TOTAL VEHICLE & EQUIPMENT FUND 11 $ $ 6,900 1 $ $ 6,900 1 $ $ $ - 217 Service Level Adjustments -Approved 00 600.43347.00 WA -15 Ton Split Systme HVAC System Maintain Current NEW OR EXPANDED LEVEL 9,000 SAVINGS 9,000 Payroll One 00 600.44303.00 WA -Pod B HVAC System Replacement Level Adjustment Time Recurring Revenue Expense 00 Dept Acct Description of Item of Service Costs Costs Costs TOTAL Enhancme Reductions TOTAL 00 600.43347.00 WA -15 Ton Split Systme HVAC System 9,000 9,000 00 600.44303.00 WA -Pod B HVAC System Replacement 7,000 7,000 00 600.46195.04 WA - Remodel/Expand of Dining Hall 36,000 36,000 - 00 600.46195.05 Remodel Court Room($20K from tech/sec funds) 33,500 33,500 20,000 20,000 00 600.46195.06 WA - Remodel Office Spaces 5,000 5,000 Dept 00 General Major Maintenance 90,500 90,500 20,000 1 20,000 TOTAL GENERAL MAJOR MAINTENAN 1 $ $ $ 90,500 1 $ $ 90,500 1 $ $ 20,000 1 $ 20,000 218 TOWN OF WESTLAKE RESOLUTION NO. 08-51 A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS, ADOPTING THE REVISED BUDGET FOR THE TOWN OF WESTLAKE FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2008, AND ADOPTING THE PROPOSED BUDGET FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2009. WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein; and. WHEREAS, as required by Texas Local Government Code 102.002, the budget officer has prepared a municipal budget to cover the proposed expenditures of the municipal government for the succeeding year. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That the Board of Aldermen hereby adopts the revised budget for the fiscal year ending September 30. 2008 and the proposed Annual Operating Budget for the fiscal year ending September 30, 2009 and appropriates the funds contained therein. SECTION 2: That a copy of the official adopted 2008-2009 budget documents shall be kept on file in the office of the Town Secretary. SECTION 3: That this Resolution shall become ef'f'ective upon the date of its passage. PASSED AND APPROVED ON THIS 22 DAY OF SEPTEMBER 2008, ATTEST: P gr" w ta ki Sutter,RMC.. Town Secretary�J APPROV AS ORM: y' tanto E , T Attorney 219 Laura Wheat. Mayor