HomeMy WebLinkAboutRes 04-27 Approving Amendments to the Budget for the Fiscal Year 2003-2004TOWN OF WESTLAKE
RESOLUTION NO. 44-27
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS, APPROVING BUDGET AMENDMENTS TO THE
WESTLAKE VISITORS ASSOCIATION FUND IN ACCORDANCE WITH
APPROVED USES OF HOTEL MOTEL TAX FUNDS TO SUPPORT VISITOR
GROWTH IN WESTLAKE.
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS:
SECTION 1: That the Board of Aldermen of the Town of Westlake does hereby
approve the budget amendments to the Westlake Visitors Association Fund in accordance
with approved uses of Hotel Motel Tax funds to support visitor growth in Westlake, as
shown in Exhibit A attached.
SECTION 2: That this Resolution shall become effective upon the date of its
passage.
PASSED AND APPROVED ON THIS 24TH DAY OF MAY 2004.
ATTEST; Scott Bradley, Mayor
in r Crosswy, Taw ecretary
APPROVED AS TO FORM:
Aantonattorney
Trent O. Petty, Town anager
Westlake Visitor's Association Fund
Proposed Amendment Detail - Income
Fiscal Year 200312004
Budgeted Amended Increase
Account Name FY 03104 FY 03104 (Decrease) Explanation
Hotel Occupancy Tax 350,000 325,000 (25,000) A decline in visits to the hotel has led to a decrease in projected
revenue.
Interest Income 9,000 5,500 (3,500) Lower interest rates than expected
5/19/2004
12:44 PM
Westlake Visitor's Association Fund
Proposed Amendment Detail - Expenditures
Fiscal Year 2003/2004
NOTE: Explanations are for all proposed amendments greater than 10%
Budgeted Amended Increase
Account Name FY 03104 FY 03104 (Decrease) Explanation
Salaries
15,045
36,583
21,538
Increased due to the hiring of Carolyn Simms (beginning in June).
Medical/Dental Insurance
1,410
4,640
3,230
Increased due to the hiring of Carolyn Simms (beginning in June).
Social Security
963
2,268
1,305
Increased due to the hiring of Carolyn Simms (beginning in June).
Medicare
218
531
313
Increased due to the hiring of Carolyn Simms (beginning in June).
TMRS
1,279
3,069
1,790
Increased due to the hiring of Carolyn Simms (beginning in June).
Computer Equip./Software
1,000
2,000
1,000
Increased due to the hiring of Carolyn Simms (beginning in June).
Community Services
-
6,182
6,182
Represents Christmas lights, string trio, tree, etc. for Christmas event
Marriott Marketing
28,000
65,000
37,000
This will provide the Marriott hotel with financial resources to implement a
number of plans to increase hotel visits and bring attention to the Town.
Marketing & Promotions
8,500
11,800
3,300
Intended to promote the Town. Used to fund the Academy Foundation for
certain items containing the school/town logo. (caps, mugs, clothing)
TML Expense
-
4,600
4,600
The Town hosted the TML Dinner in February
Office Rent
2,209
1,696
(513) The Town owed Solana less than expected for rent.
Telephone Expense
1,950
5,000
3,050
Includes the internet expense for the Town. Also cost of
equipment/services at new location more than expected. This is a pro-
rated share of the Town's telephone expense.
Internet Expense
713
250
(463) Consists of Town website hosting only. Internet expense now included with
the above "Telephone Expense" line -item.
Telephone Lease (buy out)
146
2,379
2,233
The Town paid off lease from our old phone system from Solana in the
interest of selling before it depreciated further. The Town should receive
$3,000 total to be distributed over the three funds.
Utilities - Water - 2,100 2,100 The Water utility cost will be spread out over the three funds. 70% in GF,
15% in UF, and 15% in WVA. This allocation represents the approximate
time spent by employees, office space and resources for each fund. This
also includes the Academy's usage. We have exhausted the funds
available in their budget; therefore, the Town is absorbing 100% through
the end of the year. Total cost = $14,000
Utilities - Electric - 7,725 7,725 The Electric utility cost is spread out over the three funds just as the Water
and Gas line items are. Same information regarding the Academy budget
as indicated above. Total cost = $51,500
Utilities - Gas - 3,491 3,491 The Gas Utility cost is also spread across the three funds with the same
allocation as Water and Electric. Same information regarding the Academy
budaet as indicated above. Total cost = $23.275
5/19/2004
12:44 PM
Westlake Visitor's Association
Proposed Budget Amendments
as of March 31st, 2004
Amended YTD Variance
FY Budget Budget FY Budgeted YTD Actuals % of YTD % of YTD Variance I Adapted!
03/04 03104 I 1 II 1 Budgeted I Actual 1 (1-11) Amended
Highlighted numbers represent amendments proposed.
--Revenue
31320 11 Hotel Occupancy Tax 350,000 325,000 175,000 163,492 50.00%
46.71% (11,508) (25,000)
36110 11 Interest Income 9,000 5,500 4,500 2,764 50.00% 30.71% (1,736) (3,500)
TOTAL REVENUE 359,000 330,5QQ 179,540 166,25$ $0.40% 46.31% (13,245) (28,500}
Expenditures
41110 11 Salaries 126 * 13
42110 11 Medical/Dental insurance
42210 11 Social Security
42220 11 Medicare
15,045
1,410
963
218
36,583
7,523
7,361
50.00%°
48.92%
(162)
21,538
4,640
705
323
50.00%°
22.91%
(382)
3,230
2,268
482
445
50.00%
46.16%
(37)
1,305
531
109
104
50.00%
47.72%
(5)
313
42310
11
TMRS
1,279
3,069
639
623
50.00%
48.71%
(16)
1,790
42310
11
Workers Camp
465
147
233
78
50.00%
16.77%
(155)
(318)
43205
11
Admin Expense
23,625
25,125
11,813
15,031
50.00%
63.62%
3,218
1,500
43250
11
Auditor @ 15%
2,450
2,775
2,450
2,775
100.00%
113.27°fo
325
325
43310
11
Boyle & Lowry
5,000
5,000
2,500
1,020
50.00%
20.40%
(1,480)
0
__434
43405
11
Computer Equip./Software
1,000
2,000
500
0
50.00%
0.00%(500)
1;000
43410
11
Computer Service
500
500
250
0
50.00%
0.00%
(250)
0
43515
11
Community Services
6,182
0
6,182
0.00%
0.00%
6,182
6,182
43525
11
CVB Membership
750
750
375
0
50.00%
0.00%
(375)
0
43530
11
Marriott Marketing
28,000
65,000
14,000
0
50.00%
0.00%
(14,000)
37,000
43531
11
Marketing & Promotions
8,500
11,800
8,500
8,213
100.00°f°
96.62%
(287)
3,304
43532
11
TML Expense
0
41600
0
3,995
0.00%°
0.00%
3,995
4;600
44410
11
Office Rent
2,209
1,696
1,696
1,696
76.78%
76.78%
0
(513)
45305
11
Telephone Expense
1,950
5,000
1,950
2,737
100.00%°
140.37%
787
3,050
45310
11
Mobile Phone
750
750
375
235
50.00%
31.33%
(140)
0
45315
11
Internet Expense
713
250
357
96
50.00%
13.46%
(261)
(463)
45320
11
Telephone Lease (buy out)
146
2,379
146
2,379
100.00%
1629.27%
2,233
2,233
11
Utilities -water
0
2,100
0
0.00%
0.00%
0
2,100
11
Utilities -electric
0
7,725
0
0.00%
0.00°f°
0
7,725
11
Utilities - gas
0
3,491
0
0.00%
0.00%
0
3,491
TOTAL OPERATING EXPENDITURESI 1
94,973 1
194,361
54,601 1
53,2921
57.49°/°
56.11%
(1,309)
99,386
Capital Projects
47900 11 Dove Road[Randol Mill (Amended)
5/19/2004
12:45 PM
25,867
12,934
8,796 50.00% 34.01% (4,137)
SUMMARY
Total Revenue 359,000
Total Expenditures 120,840
Majority amount of the proposed increase to the expenditure budget of $99,388 is the following: $27,858 for Carolyn's salary/benefits for the remaining portion of the
fiscal year; $6,182 for Community Services for the Christmas event; $37,000 increase of funds for the Marriot; pro -rated share of utilities of $13,316; and $4,700 for
hosting the TML dinner.
5/19/2004
12:45 PM
Westlake Visitor's Association Fund
Program Summary - Amended
Westlake Visitor's Association Fund
Budgeted
FY 02103
Projected
FY 02103
Actual
FY 02103
Budgeted
FY 03104
Amended
FY 03104
Beginning Balance
534,450
559,479
567,136
611,409
571,058
Balance Sheet affect to Cash
(21,550)
225,000
225,000
Revenue
329,000
390,188
381,867
359,000
330,500
Transfers In
-
-
-
-
25,000
Expenditures
164,464
113,258
131,395
86,473
194,361
Transfers Out
225,000
225,000
153,000
168,867
Ending Balance (Cash)
698,986
611,409
571,058
730,936
538,330
Budgeted Projected Actual Budgeted Amended
Westlake Visitor's Association Fund Transfers In FY 02103 FY 02103 FY 02103 FY 03104 FY 03104
Transfers In
Capital Projects
Total Transfers In - - - - -
Budgeted
Westlake Visitor's Association Fund Transfers Out FY 02103
Projected
FY 02103
Actual
FY 02103
Budgeted
FY 03104
Amended
FY 03104
Transfers Out
Capital Projects -
-
-
Civic Campus
225,000
225,000
-
-
Paint retaining wall at Westlake Parkway and 114
18,000
18,000
Westlake Restoration Project
25,000
25,000
Entryways at Dove and Pearson (amended)
10,000
25,867
Blacksmith and Forge Statue
100,000
100,000
Auditor's Corrections -
-
-
-
-
Total Transfers Out -
225,000
225,000
1 153,000
168,867
Balance sheet affect to cash represents balances between the fiscal years that affect cash and are reflected in
current year revenue and expenditures, i.e. payables and receivable posted to the current year's books but cash not paid
nor received until the subsequent year as well as inter -fund loans not yet paid or received.
Variance of $40,351 between projected and actual ending cash balance is attributed mostly by a decrease from projected
hotel occupancy tax of $7,000 as well as an overage in Legal and Marriot Marketing of $14,000. These along with the
balance sheet affect of $21,550 make up the major portion of this variance.
5/19/2004
12:46 PM