HomeMy WebLinkAboutOrd 950 Budget FY 22-23
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TOWN OF WESTLAKE
FISCALYEAR2022 – 2023
PROPOSEDANNUALBUDGET
AUGUST 29,2022
This budget will raise more revenue from property taxes than last year’s budget by an amountof
$492,829,which is an 18.16percent increase from last year’s budget. The property taxrevenue
tobe raisedfrom newpropertyaddedto thetaxrollthisyearis $111,143.
Themembersofthegoverningbodyvotedonthebudgetasfollows:
FOR:
AGAINST:
PRESENT andnotvoting:
ABSENT:
PROPERTYTAXRATECOMPARISON
2022-20232020-2021
PropertyTaxRate$0.16788/100$0.16788/100
NoNewRevenueTax Rate$0.14609/100$0.16746/100
NoNewRevenueMaintenance &OperationsTaxRate$0.09025/100$0.12531/100
VoterApprovalTaxRate$0.15098/100$0.22181/100
DebtRate$0.06297/100$0.06504/100
Thetotaldebt obligationfortheTownof Westlakesecuredbyproperty taxes:$1,202,918.
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TABLE OF CONTENTS
Transmittal Letter5
Mission, Vision, Values10
Elected Council Members 11
Budget Overview12
Organizational Chart22
Personnel FTE Schedule23
All Funds25
General Fund30
Enterprise Funds38
Internal Service Funds46
Special Revenue Funds62
Debt Service Funds76
Capital Projects Funds.86
Policies102
Appendix130
August 29, 2022
Honorable Mayor and Town Council:
In accordance with the Texas Local Government Code, I am pleased to submit the adoptedbudget for
the Town of Westlake Fiscal Year 2023. Thefiscal year beginsOctober 1, 2022and endsSeptember
30, 2023.
This proposed budget was carefully prepared through the collective efforts of all departments to
balance the identified needs of the Town with a sustainable and sound financial plan. The proposed
budget is focused on achieving the following goals:
Meeting resident expectations;
Continuing high quality services and responsive customer service;
Retaining and attracting employees who support the community’s vision;
Working with developers to create distinctiveresidential and commercial opportunities; and
Building on our strong corporate partnerships.
BUDGETSTRATEGIES
The proposed budget is influenced by the following systems: The Town’s Strategic Plan, the
Comprehensive Plan, Council direction, Fiscal & Budgetary policies, recommendations from the Town
Manager, Government Finance Officers Association guidelines, and general budgetingprinciples.
STRATEGIC PLAN
The organization utilizes the concepts found within the Balanced Scorecard system to ensure we focus
on the four main areas that will lead to the success of our organization.
Quality of Life for our Citizens, Students, and Stakeholders
Conservative Approach to Financial Stewardship
Review and Oversight of our Municipal and Academic Operations
Investment in our People, Facilities, and Technology for Exceptional Service Delivery
COMPREHENSIVE PLAN
The Comprehensive Plan provides a vision for the future of the Townand the priorities for the
community as it relates to a variety of plan elements that help determine land use, mobility, parks,
open space, housing, economic development, storm water management, and water conservation.
5
TOWN COUNCIL POLICIES & PRIORITIES
The Town Council’sstated focus for the coming fiscal year are asfollows:
Oversight of development projects to ensure we continue meeting our strategic theme of
“High Quality Planning, Design, & Development”;
Investment in Westlake Academy to provide our students with a school environment that
supports our strategic theme of “IB Education for All: Preparing Students to Thrive in a Global
Society”; and
Continued support of public safety efforts to reach our strategic objective of “Preserving
Desirability & Quality of Life”for our residents.
FISCAL & BUDGETARY POLICIES
The Town’s fiscal and budgetary policies address the Town’s operating budgets, revenue
management, expenditurecontrol, fundbalance/retained earnings, debt management, grants,
economic development, audits, internal controls, and asset management. These policies are included
in our annual budget document for residents to review and staff to use as a guiding set of principles
each year.
BUDGET PRINCIPLES
The Town’s budget principles for sound fiscal management include:
Plan, manage, and fund debtservice and related service delivery programs;
Maintain fund balance in accordance with thepolicy and future obligations;
Oversee facilities andinfrastructure;
Provide exceptional and responsive public services; and
Provide competitive employeecompensation.
PROPERTY TAX
The proposed municipal property tax rate (or ad valorem rate) will maintain the current adopted
rate of $0.16788 per $100 of assessed valuation. Thisrate is slightly higher this year ($0.00042) than
the no-new-revenue rate (formerly the “effective tax rate”), which is the totaltax rate needed to
generatethe same amount of property tax revenue for the Town from the same properties between
the 2021tax year and the 2022tax year.
This budget adheresto direction the Council gave to stabilizeour ad valorem rate, monitor
expenditures, and direct one-time revenue to our conduit funds – Major Maintenance & Repair,
Vehicle Maintenance & Repair and Capital Improvements. These directiveshelp ensure we plan for
theTown’s financial stability and are better prepared to meet the service delivery expectationsof
our community. Our approach to both revenue estimating and expenditure requests continue to
proceed in a fiscally conservative manner without raising the rate for our property ownersand still
allow Westlake the ability to exceed expectations of our residents.
6
The ad valorem taxis allocated between Maintenance and Operations (M&O) in the General Fund
and Interest and Sinking (I&S) debt service for the Town. The allocation for M&O is $.10491and
totals $2.0M. The allocation for I&S debt service is $0.06297and totals $1.2M. Please see the tax
rate change below:
Tax Rate ChangeFY22 FY23
AdoptedProposedVariance
M&O$0.10284$0.10491$ 0.0207
I&S$0.06504$0.06297$(0.0207)
Total$0.16788$0.16788$0.00
We have also been very fortunate that the Town’s property values, for both residential and
commercial categories, continue to be strong during the current economic times.
Appraised Value v. Taxable Value
shown in billions
$3.00
$2.50
$2.00
$1.50
$1.00
$0.50
$0.00
FY19FY20FY21FY22FY 23
Appraised ValueTaxable Value
The difference between the appraised value and the taxable value are the Town’s homestead and
other exemptions. The Town offers the following exemptions and property tax rate reduction
programs to ourresidents:
Homestead Exemption
Additional 65+ or Disabled Exemption
Additional Tax Ceiling, or Tax Freeze, for 65+ or Disabled
Property Tax Reduction, or Additional Sales & Use Tax
7
PROPOSEDBUDGET
In FY23,revenues are budgeted at $28M for all funds. This is a 41%decrease of $19.5Mfrom prior
year revisedprimarily due to the $15.7M bond refunding related to Hillwoodand interfund
transfers. Expenditures are budgeted at $33.2Mfor all funds. This is a 27%decrease of $12.3M
from prior year revised, which includesthe $15.7debt obligation payout, offsetby increases in
overall payroll, service expenditures, transfers out to Westlake Academyand interfund transfers.
As the economy continues to recover post-pandemic,revenues and expenditures remain
conservativelybudgeted. Theproposedbudget includes the planned use of fund balance in
General Fund, Enterprise Funds, Special Revenue Funds, Debt Service Fundsand Capital Projects
Funds.
RevenuesPercent
Beginning Expenditures Net Change to Ending Fund PercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercentPercent
FUND& Other of Total
Fund Balance& Other UsesFund Balance Balance Change
SourcesFunds
General Fund$13,268,443 $10,694,198 $15,736,919 $(5,042,721)$8,225,722 27%-38%
Enterprise Funds9,074,539 6,107,775 6,851,618 (743,843)8,330,695 27%-8%
Internal Service M&R3,262,961 3,485,491 2,064,545 1,420,946 4,683,907 15%44%
Special Revenue Funds1,837,918 3,102,316 3,195,475 (93,159)1,744,758 6%-5%
Debt Service Funds32,688 2,825,757 2,858,444 (32,687)(0)0%-100%
Capital Projects Funds8,444,800 1,755,100 2,515,033 (759,933)7,684,867 25%-9%
Municipal Total$35,921,349 $27,970,637 $33,222,034 $(5,251,397)$30,669,951 100%-15%
Major expenditures that impacted the proposed FY23 budget include:
-Payroll increase as per the followingactivities (affects General,Visitors Association, and Utility
funds):
o 4% market adjustmentpayrollincrease toallMunicipalStaff
o 3 full-time equivalent (FTE) Staff: Academy Firefighter/Paramedic, Academy
SRO, andAcademy Accountant II;
o Increasemarket/reclassification adjustments (
forDevelopment & GISManager,P&D Coordinator,andAccountantI;
o severance agreement;
-Transfers Out:
o Added Westlake Academy Foundation Blacksmith Donations line
of$1.1m and transfer out line of $1.1m ();
o Increase in Westlake Academy transfers to support100% Foundation salaries,increase of
$79k, aswellas increase of $405k to support overallacademic operations for a balanced
budget,netting increase of $490k;
-The Utility Fund issued debt in the2022GORB andthus added $866k in principaland interest
payments;
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-$2.m in capital projectsmainly forpark and trail improvement as well as the
and
-TransfersoutoftheGeneralFundof$3.9mtosupportbothcurrentandlong-termprojectsinthe
General Maintenance andReplacement Fund, General Vehicle Maintenance and Replacement
Fund,and Capital ProjectsFund.
During the budget season, major emphasis this year was placed on examining the decrease to overall
fund balance and considering how Town should address outyear projections. Under
Council recommendation, analysis was performed to reduce non-planned repair and maintenance
budgetand create contingency amounts should there be any breakages during the fiscal year.
CLOSING
In adherence to our fiscal policies, the budget will continue to be monitored periodicallyand regular
updates will be provided to theTown Council. The budget is intended to be adaptable given the
unfamiliar long-termfiscal impact of the pandemicand other service delivery needs that may arise
within our community.
Jarrod Greenwood
Acting Town Manager
9
MISSION
Westlake is a unique community blending preservation of our
natural environment and viewscapes, while serving our residents and businesses
with superior municipal and academic services that are accessible, efficient,
cost-effective, and transparent.
VISION
An oasis of natural beauty that maintains our open spaces in balance with
distinctive developments, trails, and quality of life amenities amidst an
ever-expanding urban landscape.
VALUES
Transparent / Integrity-driven Government
Fiscal Responsibility
Family Friendly & Welcoming
Educational Leaders
Sense of Community
tion
Innova
Strong Aesthetic Standards
Informed & Engaged Citizens
Preservation of our Natural Beauty
Planned / Responsible Development
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ELECTED COUNCIL MEMBERS
Kim Greaves - Councilmember
Anna White– Councilmember
SeanKilbride– Mayor
Tim Shiner – Councilmember
Chandrika Dasgupta– Councilmember
DavidQuint – Mayor Pro-Tem
BOARDS & COMMISSIONS
Planning & Zoning Commission
Westlake Academy Foundation
4B Economic Development Board
Westlake Public Arts Society
Westlake Historical Preservation Society
Texas Student Housing Authority
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BUDGET OVERVIEW
The budget is an essential element of the financial planning, control, and evaluation process of
municipal government. The “operating budget” is the Town’s documented annual financial
operating plan. The budget includes all operating departments, debt service funds, capital projects
funds, and the internal service funds of the Town. The budget is aresource tool for Town Council,
staff, and the citizens of Westlake.
BASIS OF ACCOUNTING & BUDGETING
The Town records and reports all financial transactions using standard set by the Governmental
Accounting Standards Board (GASB) and General Accepted Accounting Principles (GAAP).
The Town utilizes the modified accrual basis of accounting and budgeting for governmental funds
(General Fund, Special Revenue Funds, Debt Service Funds, Capital Project Funds and Academic Funds).
Revenues are accounted and budgeted when they are measurable and available. Expenditures are
accounted and budgeted when the liability is incurred.
For proprietary funds (Enterprise and Internal Service Funds), the Town uses a full accrual basis of
accounting and budgeting. Revenues or expenses are recorded when a transaction occurred.
The Town’s financials are fully reconciled to the accounting system at the beginning of the fiscal year
when the budget is proposed and at the end of the fiscal year in the Comprehensive Annual Financial
Report. GAAP adjustments are made to reflect balance sheet requirements and their effect on the
budget. These include changes in designations and recognition of accrued liabilities.
BUDGET PROCESS
The Town’s fiscal year begins on October 1st and ends on September 30th. The budget is prepared
by the Town Manager in collaboration with department directors.
PREPARATION
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.
The finance department forecasts current year’s revenues. To maintain a stable level of services, the
Town uses a conservative, objective, and analytical approach when preparing revenue estimates. The
process includes analysis of probable economic changes and their impacts on revenues, historical
collection rates, and trends in revenues. This approach reduces the likelihood of actual revenues
falling short of budget estimates during the year and should avoid mid-year service reductions.
As per State Law, current operating revenues, including Property Tax Reduction Sales Tax (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.
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DEVELOPMENT
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. A round-table meeting
is subsequently held with the Town Manager, finance staff and each department head for review.
After all funding levels are established and agreed upon the proposed budget is presented by the
Town Manager to the Town Council during the annual budget retreat. Town Council reviews the
budget information, determines their priorities for the upcoming fiscal year, and evaluates the
Town’s long-term plans.
PLANNING
The Town utilizes several planning processes that affect the development of the operating budget.
Effective planning processes assist the Town in assessing the financial implications of current and
proposed policies, programs, and assumptions.
TOWN OF WESTLAKE Type Of Description Of Budget
PLANNING MATRIX Planning Process Planning Process Impact
General Government Five-year operating plan Forecast of revenues,
Allows for reallocation of
Long-Range Financial to facilitate financial expenditures, service
resources
Forecast planning levels and staffing needs
The prioritization of
Five-year plan by facility departmental requests
Facilities Capital Stability of General fund
and maintenance activity for projects along with
Maintenance appropriations
or project known maintenance
requirements
Identifies, prioritizes and
Five-year plan by facility,
Parks Capital schedules improvements Stability of General fund
maintenance activity or
Maintenance to parks, medians and appropriations
project
grounds
Five-year plan to Inspection, prioritization
maintain and improve and scheduling of surface Stability of General fund
Street Maintenance
roadways, sidewalks, repair & preventive appropriations
curbs and gutters maintenance of streets
Development of
Five-year plan of
replacement intervals
Vehicle and Equipment scheduled vehicle and Timing and sizing of debt
based on equipment age,
Replacement heavy equipment issues and payments
usage, and lifetime repair
replacement
costs
Development of
Plan for the replacement replacement intervals
Stability of General fund
Computer Replacement of computers and other
based on equipment age,
appropriations
technology items usage, and lifetime repair
costs
Five-year plan of major Council identification of
Predictable funding
Capital Improvements infrastructure projects; prioritizing;
levels, debt service
Plan development and costing; timing; financing
planning
improvements and project management
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ADOPTION
Upon the determination and presentation of the final proposed budget as established by the Council,
a public hearing date and time will be set and publicized. Council will consider a resolution which, if
adopted, thebudget becomes the Town’s Approved Annual Budget. Council adopts the budget in
st
September prior to beginning the fiscal year onOctober 1. The approved budget will be placed on
the Town’s website.
AMENDMENTS
The finance department monitors all financial operationswhile department directors are responsible
for monitoring their respective department budgets.Modifications within the operating categories
(salaries, supplies, maintenance, services, capital, etc.) can be made with the approval of the Town
Manager. Any change to reserve categories or interdepartmental budget totals requires a budget
amendment from Town Council.
The budget team (financeand
•Budget amendment is requested and forwarded
department head)determinewhether
to the finance department
toproceed witha budget amendment. If
1.
so,theywill present the request to the
TownManager for review. If approved,
•Finance Director reviews the budget request
theTown Manager will draft an
•If approved, the request is forwarded to the
2.
ordinancetoformally amend the current
Town Manager
budget.
•Town Manager reviews the request
•If approved, the request is presented to Town
Theordinance is presented totheTown
3.
Council
Council for consideration. If the
amendment is approved, the necessary
budget changes aremade. All budget
•Town Council reviews the request
amendmentsareapproved by Town
4.
Council prior to the expenditure of funds
in excessof the previouslyauthorized
•If approved by Town Council, the finance
budgetedamounts within eachfund.
department enters the budget amendment
5.
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FUND STRUCTURE
The Town’s accounting system is organized and operated on a fund basis. A fund is a group of
functions combined into a separate accounting entity having its own assets, liabilities, equity,
revenues, and expenditures/expenses. The Town of Westlake has 16 funds with specific purposes
which are defined by federal, state, or local laws.
ALL FUND TYPES
Governmental Proprietrary Fiduciary
Funds (12)Funds (6)Funds ()
Internal Service Funds
General Fund
No Pension Trust Funds
4 Funds
1 Fund
Enterprise Funds
Special Revenue Funds
No Investment Trust Funds
2 Funds
5 Funds
Debt Service Fund
No Private Purpose Trust
Funds
2 Funds
Capital Project Funds
3 Funds
Academic Funds
1 Fund
No Permanent Funds
GOVERNMENTAL FUNDS
Governmental fund types finance themost governmental functions of the Town. 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. This fund type uses a modified accrual basis of accounting and budgeting.
The Town of Westlake has the following Governmental Funds:
The General Fund is the Town’s principle operating fund, and is supported by sales and use
taxes, ad valorem property taxes, and other revenues. These revenues may be used for a
variety of purposes, as determined by the Town Council. The General Fund budget accounts
for core Town services such as fire and emergency services, planning and development, public
works, finance, and administrative oversight.
15
Special Revenue Funds accounts for the proceeds of specific revenue sources, other than
expendable trusts or major capital projects. These funds consist of the following: The 4B
Economic Development Fund 200, Economic Development Fund 210, Public Improvement
District 215, Visitor Association Fund 220, Public Arts Fund 225 and Lone Star Public Fund 418.
Debt Service Funds account for 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 issuances.
Debt Service Funds is comprised of the Revenue Supported Debt Service Fund 300 and
Property Tax Supported Debt Service Fund 301.
Westlake Academy Fund includes all operations and maintenance related to the school as
well as State public school funding, Federal and state grants, and private donations used to
support the daily school operations of the Academy. (Adopted separate from Municipal)
Capital Projects Funds account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed by proprietary fund types).
These funds consist of the Capital Project Fund 410, Westlake Arts & Sciences Center Fund 411,
and the Westlake Academy Expansion Fund 412.
PROPRIETARY FUND TYPES
Proprietary fund types account and budget for ongoing activities based on a cost of service. These
funds use an accrual basis of accounting. The Town of Westlake has the following proprietary funds:
Enterprise Funds are separate from other funds and accounts of the Town. Revenues
generated by the enterprise activity are deposited into the enterprise fund. The enterprise
fund is used to support all operations of the enterprise activity. The Town’s Enterprise
Funds are the Utility Fund and the Cemetery Fund.
Internal Service Funds account for services and or commodities furnished by a designated
program to other programs within the Town. The Town’s internal service funds are
comprised of the following: (1) Utility Maintenance and Replacement Fund 510; (2) General
Maintenance and Replacement Fund 600; (3) Utility Vehicle Maintenance and Replacement
Fund 505; and (4) General Vehicle Maintenance and Replacement Fund 605.
16
FUND BALANCE
Fund balance is used to describe the net position of governmental funds calculated in accordance
with generally accepted accounting principles (GAAP). Fund balance is defined as the excess of an
entity’s assets over its liabilities in a fund. In other words, it is the balance that remains once the
fund’s expenditures have been deducted from its revenues.
There are four primary reasons to maintain an adequate fund balance:
Cash Flow – It is essential for the Council to have enough cash on hand for payroll and other
obligations to be made timely. In addition, most state and federal grants require the
payment prior to the grant reimbursement request.
Unforeseen Events – Reserves often act as a contingency to meet unbudgeted and
unexpected needs, thus allowing time to make permanent changes to the budget and
preventing fiscal problems from needlessly worsening.
Financial Security – A fund reserve demonstrates a sign of financial strength and security to
banking and financial institutions allowing the Town of Westlake to borrow funds and sell
bonds when additional facilities need to be built or renovated at more favorable rates, thus
saving the taxpayers money.
Interest Earning – Having a fund
In the Town of Westlake, the amount of fund balance for each fund is dictated by different
parameters. Please note that each fund summary ends with a line named “ending fund balance.”
Revenues
Beginning Expenditures Net Change to Ending Fund Percent Percent
FUND & Other
Fund Balance & Other Uses Fund Balance Balance of Total Change
Sources
General Fund $13,268,443 $10,694,198 $15,736,919 $(5,042,721) $8,225,722 27%-38%
Enterprise Funds 9,074,539 6,107,775 6,851,618 (743,843) 8,330,695 27%-8%
Internal Service M&R3,262,961 3,485,491 2,064,545 1,420,946 4,683,907 15%44%
Special Revenue Funds 1,837,918 3,102,316 3,195,475 (93,159) 1,744,758 6%-5%
Debt Service Funds 32,688 2,825,757 2,858,444 (32,687) (0) 0%-100%
Capital Projects Funds 8,444,800 1,755,100 2,515,033 (759,933) 7,684,867 25%-9%
Municipal Total $35,921,349 $27,970,637 $33,222,034 $(5,251,397) $30,669,951 100%-15%
Fund Balance will only be used with Council approval and can be only be used for the following:
Emergencies
Non-recurring expenditures such as technology, furniture, fixtures and equipment, or major
capital purchases that cannot be accommodated through current year savings.
17
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.
Council shall approve all commitments by formal action. The action to commit funds must occur
prior to fiscal year-end, to report such commitments in the balance sheet of the respective period,
even though the amount may be determined subsequent to fiscal year-end. A commitment can only
be modified or removed by the same formal action.
OPERATING DAYS
The Town strives to maintain the General Fund undesignated fund balance at, or in excess of, 180
days of operation. The change in the number of operating days in proposed budget FY23is well over
the minimum number of operating days as determined by Town Council.
General Fund Operating Days
584
441
423
266
222
203
113 31
FY 2021 FY 2022 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
AUDITED ADOPTED REVISED PROPOSEDPROJECTED PROJECTED PROJECTED PROJECTED
18
TYPES OF REVENUE
General Sales & Use Tax is the largest revenue source in the General Fund. General sales & use 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. Of the 8.25%, 6.25% per dollar is maintained by the State of Texas and a maximum of 2%
is provided to municipalities. General sales tax funds are collected by the Texas Comptroller of Public
Accounts and remitted to the Town monthly.
Of the 2% of general sales tax received by the Town, 1.50% is appropriated to the General Fund with
0.50% being used for the Property Tax Reduction Program. The Town also receives an additional
0.50% sales tax that is recorded in the 4B Economic Development Corporation Fund.
Property Tax (Ad Valorem) is the third largest revenue source in the General Fund. The ad valorem
tax rate is per $100 of assessed valuation. The adopted ad valorem tax rate of $0.16788 is allocated
between the General Fund for Maintenance and Operations (M&O) and Debt Service Interest and
Sinking (I&S) for the municipality.
Beverage Tax is based on the 14% gross receipt tax on mixed beverages. Of the 14%, 10.7% is remitted
to the Town and the remaining 3.3% is retained by the State of Texas.
Franchise Fees are collected from utilities and telecommunications companies that use the Town’s
right-of-way. Companies have until October 1st of every year to provide municipalities notice of
which fee they were planning to pay. 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.
Permits & Fees – Other includes fees charged by the Town for gas wells, EMS revenues, review and
renewal fees, developments fees and contractor registration fees.
Permit & Fees - Building is the second largest revenue source. This revenue consists of permits and
fees charged for development activities.
Fines & Forfeitures are based on the citations and warrants issued from the Municipal Court. The
Keller Police Department continues to provide police and animal control services for the Town.
Investment Income is based on interest payments, dividends, capital gains collected.
Miscellaneous Income includes fees charged by the Town for facility rentals, sales of surplus/scrap
items, insurance refunds and equity return.
Transfers In includes transfers in from the Utility Fund 500 for one-time impact fees only. These fees
are based on new home construction.
19
TYPES OF EXPENDITURES
Payroll and Related Expenditures is the largest expenditure in the General Fund. The Town utilizes a shared
service model, which conserves resources and avoids duplication of efforts across municipal and academic
functions.
Operations and Maintenance Expenditures is the second largest expenditure in the General Fund.
These expenditures represent the dollars needed to operate and maintain basic Town services.
Capital Maintenance & Replacement includes funding for maintenance and repair costs for Town
infrastructure.
Transfer Out includes transfers to General Maintenance and Replacement Fund 600, General
Vehicle Maintenance and Replacement 605, and Visitor Association Fund 220.
20
21
22
PERSONNEL STAFFING BY DEPARTMENT & POSITION
Prior Year Audited Actuals; Current Year; Next Year Proposed; Forecasted
FY 2023
FY 2021 FY 2022 FY 2022
FY 2024 FY 2025 FY 2026 FY 2027
Proposed
DeptPositionchange
Audited Adopted Revised
ForecastForecastForecastForecast
Positions
ActualPositionsPositions
10GENERAL ADMINISTRATIVE
Administrative Assistant 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
11TOWN MANAGER'S OFFICE
Town Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Deputy Town Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Assistant Town Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Administrative Assistant- - 1.00 1.00 - 1.00 1.00 1.00 1.00
3.00 3.00 1.00 4.00 - 4.00 4.00 4.00 4.00
12PLANNING & DEVELOPMENT
Director of Planing & Development 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Chief Building Official 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Development/GIS Manager - - - 1.00 1.00 1.00 1.00 1.00 1.00
Development Coordinator 1.00 1.00 -- (1.00) - - - -
Planning and Development Coord - - - 1.00 1.00 1.00 1.00 1.00 1.00
Permitting Technician 1.00 1.00 - - (1.00) - - - -
4.00 4.00 - 4.00 - 4.00 4.00 4.00 4.00
13TOWN SECRETARY'S OFFICE
Town Secretary 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Administrative Assistant - - -- - - - - -
1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
14FIRE/EMS DEPARTMENT
Fire Chief 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Deputy Chief/Fire Marshal 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Business Services Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Firefighter/Paramedic - WA - - 1.00 2.00 1.00 2.00 2.00 2.00 2.00
3.00 3.00 1.00 5.00 1.00 5.00 5.00 5.00 5.00
Fire Captain/Paramedic - - 1.00 1.00 1.00 1.00 1.00 1.00
1st Shift
Lt. Firefighter/Paramedic 1.00 1.00 - - (1.00) - - - -
Driver/Engineer 1.00 - - (1.00) 1.00 1.00 1.00 1.00
Firefighter/Paramedics full time 4.00 3.00 - 4.00 1.00 4.00 4.00 4.00 4.00
5.00 5.00 5.00 - 6.00 6.00 6.00 6.00
Fire Captain/Paramedic - - - 1.00 1.00 1.00 1.00 1.00 1.00
2nd Shift
Lt. Firefighter/Paramedic 1.00 1.00 -- (1.00) - - - -
Driver/Engineer 1.00 -- (1.00) 1.00 1.00 1.00 1.00
Firefighter/Paramedics full time 4.00 3.00 - 4.00 1.00 4.00 4.00 4.00 4.00
5.00 5.00 5.00 - 6.00 6.00 6.00 6.00
Lt. Firefighter/Paramedic 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
3rd Shift
Driver/Engineer - 1.00 -- (1.00) 1.00 1.00 1.00 1.00
Firefighter/Paramedics full time 4.00 3.00 - 4.00 1.00 4.00 4.00 4.00 4.00
5.00 5.00 5.00 - 6.00 6.00 6.00 6.00
Truck Co.Fire Captain/Paramedic - - - - - 3.00 3.00 3.00 3.00
Driver/Engineer - - - - - - 3.00 3.00 3.00
Firefighter/Paramedic - - - - - - - 3.00 6.00
3.00 6.00 9.00 12.00
15MUNICIPAL COURT OFFICE -
Court Administrator 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Lead Clerk 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Clerk/Juv. CM 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Clerk Part Time 0.50 0.50 - 0.50 - 0.50 0.50 0.50 0.50
Marshal 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Student Resource Officer - - - 1.00 1.00 1.00 1.00 1.00 1.00
Court Judge 0.25 0.25 - 0.25 - 0.25 0.25 0.25 0.25
4.75 4.75 - 5.75 1.00 5.75 5.75 5.75 5.75
16PUBLIC WORKS OFFICE
Director of Public Works 0.33 0.34 - - (0.34) - - - -
Superintendent 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Field Operations Coordinator 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Utility & Maintenance Technician 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Utility Technician #2 - - -- - 0.50 0.50 0.50 0.50
Utility & Facility Coordinator 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Utility Billing Clerk - - -- - 1.00 1.00 1.00 1.00
4.33 4.34 - 4.00 (0.34) 5.50 5.50 5.50 5.50
17FACILITIES MAINTENANCE
Director of Facilities Maintenance 0.33 0.33 - - (0.33) - - - -
Facilities & Event Manager 0.50 0.50 -0.50 - 0.50 0.50 0.50 0.50
Facilities Technician - - -- - 1.00 1.00 1.00 1.00
Summer Techs Part Time - - -- - 0.25 0.25 0.25 0.25
0.83 0.83 - 0.50 (0.33) 1.75 1.75 1.75 1.75
23
PERSONNEL STAFFING BY DEPARTMENT & POSITION
Prior Year Audited Actuals; Current Year; Next Year Proposed; Forecasted
FY 2023
FY 2021 FY 2022 FY 2022
FY 2024 FY 2025 FY 2026 FY 2027
Proposed
DeptPositionchange
Audited Adopted Revised
ForecastForecastForecastForecast
Positions
ActualPositionsPositions
18FINANCE OFFICE
Director of Finance 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Municipal Finance Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Academic Finance Manager 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Accountant II-Municipal 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Accountant II-Academy - 1.00 1.00 1.00 1.00 1.00 1.00
Accountant I 1.00 1.00 -1.00 - 1.00 1.00 1.00 1.00
5.00 5.00 - 6.00 1.00 6.00 6.00 6.00 6.00
19PARKS & RECREATION OFFICE
Director of Parks & Recreation 0.33 0.33 - - (0.33) - - - -
Facilities & Event Manager 0.50 0.50 - 0.50 - 0.50 0.50 0.50 0.50
Park Technician - - - - 0.50 0.50 0.50 0.50
0.83 0.83 - 0.50 (0.33) 1.00 1.00 1.00 1.00
20INFORMATION TECHNOLOGY
Director of Information Technology 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Network Administrator 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Systems Administrator - 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Database Administrator - - 1.00 1.00 - 1.00 1.00 1.00 1.00
2.00 3.00 1.00 4.00 - 4.00 4.00 4.00 4.00
21HUMAN RESOURCES OFFICE
Director of Human Resources 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
HR Generalist 1 - 1.00 - 1.00 - 1.00 1.00 1.00 1.00
1.00 2.00 - 2.00 - 2.00 2.00 2.00 2.00
22COMMUNITY ENGAGEMENT
Director of Community Engagement 1.00 1.00 - 1.00 - 1.00 1.00 1.00 1.00
Manager - 1.00 - 1.00 - 1.00 1.00 1.00 1.00
WA Communications Specialist - - 1.00 1.00 - 1.00 1.00 1.00 1.00
Marketing/CVB - - - - - 1.00 1.00 1.00 1.00
1.00 2.00 1.00 3.00 - 4.00 4.00 4.00 4.00
24
25
ALL FUNDS - BY FUND
Combining Revenues, Expenditures and Fund Balance
Fiscal Year 2023
Internal Special Debt Capital
General Enterprise MUNICIPAL
Service Revenue Service Project
Fund Funds TOTAL
Funds Funds Funds Funds
REVENUES AND OTHER SOURCES
General Sales Tax $ 4,638,709 $- $- $ 1,916,016 $- $- $ 6,554,725
Property Tax 2,004,100 - - - 1,202,967 - 3,207,067
Charge for Services - 5,752,032 - - - - 5,752,032
Hotel Occupancy Tax - - - 456,000 - - 456,000
Beverage Tax 42,000 - - - - - 42,000
Franchise Fees 547,135 - - - - - 547,135
Permits and Fees Other 252,750 - - - - - 252,750
Permits and Fees Building 2,178,528 - - - - - 2,178,528
Permits and Fees Utility - 323,218 - - - - 323,218
Fines & Forfeitures 503,585 - - - - - 503,585
Investment Earnings 28,800 15,500 2,025 100 - 20,000 66,425
Contributions - - 60,000 475,000 - - 535,000
Misc Income 431,366 17,025 - 5,200 - - 453,591
Total Revenues 10, 626,973 6,107,775 62,025 2,852,316 1,202,967 20,000 20,872,056
Transfers In 67,225 - 3,423,466 250,000 1,622,790 1,735,100 7,098,581
Other Sources - - - - - - -
Total Other Sources 67, 225- 3,423,466 250,000 1,622,790 1,735,100 7,098,581
TOTAL REVENUES AND OTHER SOURCES $ 10,694,198 $ 6,107,775 $ 3,485,491 $ 3,102,316 $ 2,825,757 $ 1,755,100 $ 27,970,637
EXPENDITURES AND OTHER USES
Payroll Salaries $ 5,565,914 $ 4,645 $- $- $- $- $ 5,570,559
Payroll Transfer In (1,158,375)- - - - - (1,158,375)
Payroll Insurance 811,821 - - - - - 811,821
Payroll Taxes 566,103 3,930 - - - - 570,033
Payroll Retirement 706,891 - - - - - 706,891
Payroll Transfer Out 569,460 - 588,915 1,158,375
Total Payroll & Related 6, 492,355 578,035 - 588,915 - - 7,659,305
Capital Outlay 35,350 25,780 50,000 - - - 111,130
Debt 36,680 1,067,574 - - 2,855,375 - 3,959,629
Economic Development - - - 141,535 - - 141,535
Leases and Rentals 11,287 1,500 - - - - 12,787
Public Notices 22,140 - - 15,000 - - 37,140
Rent & Utilities 933,683 204,136 - 97,395 - - 1,235,214
Insurance 151,059 - - - - - 151,059
Repair & Maintenance 473,735 335,174 308,000 - - - 1,116,909
Services 2,558,082 3,746,857 - 222,340 3,070 - 6,530,349
Supplies 321,465 13,918 - 32,500 - - 367,883
Travel & Training 264,283 11,420 - - - - 275,703
Westlake Academy Shared Services 553,234 - - - - - 553,234
Transfer Out Operating - - - - - - -
Total Operations & Maintenance 5, 360,998 5,406,359 358,000 508,770 2,858,445 - 14,492,572
TOTAL OPERATING EXPENDITURES 11,853,353 5,984,393 358,000 1,097,685 2,858,445 - 22,151,876
Maintenance & Replacement - - 1,706,545 - - - 1,706,545
Capital Project Funds - - - - - 2,265,033 2,265,033
Total Capital- - 1,706,545 - - 2,265,033 3,971,578
Transfers Out 3,883,566 867,225 - 2,097,790 - 250,000 7,098,581
Other Uses - - - - - - -
Total Other Uses 3, 883,566 867,225 - 2,097,790 - 250,000 7,098,581
TOTAL NON-OPERATING EXPENDITURES 3,883,566 867,225 1,706,545 2,097,790 - 2,515,033 11,070,159
TOTAL EXPENDITURES AND OTHER USES $ 15,736,919 $ 6,851,618 $ 2,064,545 $ 3,195,475 $ 2,858,445 $ 2,515,033 $ 33,222,035
SUMMARY
Excess Revenus over (under) Expenditures $ (5,042,721) $ (743,843) $ 1,420,946 $ (93,159) $ (32,688) $ (759,933) $ (5,251,398)
PY Beginning Fund Balance 15,739,333 6,982,091 2,163,678 2,275,657 103,994 5,886,965 25,088,168
ENDING FUND BALANCE $ 8,225,722 $ 8,330,695 $ 4,683,907 $ 1,744,758 $(0) $ 7,684,867 $ 30,669,950
26
FISCAL YEAR 2023
FY23
Account Description Line Item DescriptionAmount
DEPT 40 PAYROLL 1,430,765
DEPT 40-10 General Services 187,026
DEPT 40-18 Finance 51,649
DEPT 40-20 IT 106,750
DEPT 40-22 Communications 14,467
DEPT 40-Xfrs 553,234
FUND 100 - GENERAL FUND 2,343,891
1,188,352
FUND 410 - CAPITAL PROJECTS -
FUND 600-17 GMR WA Facilities 551,925
FUND 600-40 IT 131,250
FUND 600 - GENERAL MAINTENANCE & REPLACEMENT FUND 683,175
TOTAL EXPENDITURES 4,215,417
1
27
1
FIVE YEAR FINANCIAL FORECAST
Revision 06
AUDITED ADOPTED REVISED PROPOSED Projected Projected Projected Projected
FUND
FY 2021FY 2022FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
GENERAL FUND
Total Revenues and Other Sources$ 11,004,428 $ 10,788,545 $ 12,114,880 $ 10,694,198 $ 14,291,412 $ 11,067,423 $ 10,624,640 $ 11,267,853
Total Expenditures and Other Uses(9,517,132)(14,070,731)(14,585,770)(15,736,919)(13,987,348)(13,809,395)(13,305,217)(13,207,625)
NET CHANGE TO FUND BALANCE1,487,296(3,282,187)(2,470,890)(5,042,721)304,064(2,741,972)(2,680,577)(1,939,772)
Beginning Fund Balance14,252,03615,739,33315,739,33313,268,4438,225,7228,529,7865,787,8133,107,237
Ending Fund Balance15,739,33212,457,14613,268,4438,225,7228,529,7865,787,8133,107,2371,167,465
Restricted/Committed/Assigned657,776298,5601,011,6841,011,684588,218(423,466)(423,466)164,752
Unassigned Ending Balance $ 15,081,557 $ 12,158,587 $ 12,256,759 $ 7,214,038 $ 7,941,568 $ 6,211,279 $ 3,530,703 $ 1,002,713
Operating Expenditures$9,432,132$10,070,731$10,585,770$11,853,353$10,907,551$11,156,000$11,413,922$11,705,230
Operating Cost per Day$25,841$27,591$29,002$32,475$29,884$30,564$31,271$32,069
OPERATING DAYS 58444142322226620311331
ENTERPRISE FUNDS
Total Revenues and Other Sources$ 6,253,274 $ 5,724,016 $ 23,348,652 $ 6,107,775 $ 6,156,670 $ 6,263,625 $ 6,360,485 $ 6,475,195
Total Expenditures and Other Uses(4,976,685)(6,013,468)(21,256,204)(6,851,618)(6,411,027)(6,434,727)(6,535,230)(6,480,617)
NET CHANGE TO FUND BALANCE1,276,589(289,452)2,092,447(743,843)(254,357)(171,102)(174,746)(5,423)
Beginning Working Capital5,705,5026,982,0916,982,0919,074,5398,330,6958,076,3387,905,2367,730,490
Ending Working Capital6,982,0916,692,6399,074,5398,330,6958,076,3387,905,2367,730,4907,725,068
Restricted/Committed/Assigned1,547,1301,517,191639,746629,470519,537513,105502,073490,784
Unassigned Working Capital $ 5,434,961 $ 5,175,448 $ 8,434,792 $ 7,701,225 $ 7,556,801 $ 7,392,131 $ 7,228,417 $ 7,234,284
INTERNAL SERVICE FUNDS
Total Revenues and Other Sources$ 608,530 $ 2,980,775 $ 2,978,350 $ 3,485,491 $ 1,977,060 $ 2,412,070 $ 1,662,080 $ 662,091
Total Expenditures and Other Uses(425,692)(2,033,287)(1,879,066)(2,064,545)(1,471,000)(1,309,000)(1,838,515)(1,133,000)
NET CHANGE TO FUND BALANCE182,838947,4881,099,2841,420,946506,0601,103,070(176,435)(470,909)
Beginning Fund Balance1,980,8392,163,6772,163,6773,262,9614,683,9075,189,9676,293,0376,116,603
Ending Fund Balance2,163,6773,111,1653,262,9614,683,9075,189,9676,293,0376,116,6035,645,693
Restricted/Committed/Assigned2,163,6773,111,1653,262,9614,683,9075,189,9676,293,0376,116,6035,645,693
Unassigned Ending Balance $- $- $- $- $- $- $- $-
SPECIAL REVENUE FUNDS
Total Revenues and Other Sources$ 1,987,623 $ 2,465,250 $ 3,988,721 $ 3,102,316 $ 3,437,486 $ 3,092,113 $ 2,647,426 2,697,881.14
Total Expenditures and Other Uses(2,064,052)(2,381,299)(2,908,992)(3,195,475)(3,084,223)(3,449,286)(3,201,491) (3,209,605.90)
NET CHANGE TO FUND BALANCE(76,429)83,9511,079,729(93,159)353,263(357,173)(554,065) (511,724.76)
Beginning Fund Balance 834,616 758,189 758,189 1,837,918 1,744,758 2,098,022 1,740,848 1,186,783
Ending Fund Balance 758,188 842,140 1,837,918 1,744,7582,098,0221,740,8481,186,783 675,059
Restricted/Committed/Assigned 758,188 842,140 1,837,918 1,744,758 2,098,022 1,740,848 1,186,783
675,059
Unassigned Ending Balance- - $- $- $- $- $- $-
DEBT SERVICE FUNDS
Total Revenues and Other Sources 7,411,961 2,760,000 2,848,235 2,825,757 2,629,906 2,606,418 2,601,688
2,595,681
Total Expenditures and Other Uses (7,458,486) (2,868,587) (2,919,541) (2,858,445) (2,629,906) (2,606,418) (2,601,688)
(2,595,681)
NET CHANGE TO FUND BALANCE (46,524) (108,587) (71,306) (32,688)- - - -
Beginning Fund Balance 150,518 103,994 103,994 32,688(0) (0) (0) (0)
(0) (0) (0)
Ending Fund Balance 103,994 (4,593) 32,688 (0) (0)
Restricted/Committed/Assigned 103,994(4,593) 32,688(0) (0) (0) (0) (0)
28
Unassigned Ending Balance- - - - - 0 0 0
FIVE YEAR FINANCIAL FORECAST
Revision 06
AUDITED ADOPTED REVISED PROPOSED Projected Projected Projected Projected
FUND
FY 2021FY 2022FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
CAPITAL PROJECT FUNDS
Total Revenues and Other Sources$ 5,823,718 $ 4,614,602 $ 2,209,890 $ 1,755,100 $ 1,349,947 $ 413,496 $ 401,447 $ 862,598
Total Expenditures and Other Uses(2,186,739)(2,991,720)(1,953,114)(2,515,033)(240,865)- - -
NET CHANGE TO FUND BALANCE3,636,9791,622,882256,776(759,933)1,109,082413,496401,447862,598
Beginning Fund Balance 4,551,045 8,188,024 8,188,024 8,444,800 7,684,867 8,793,949 9,207,445 9,608,891
Ending Fund Balance8,188,0249,810,9068,444,8007,684,8678,793,9499,207,4459,608,89110,471,489
Restricted/Committed/Assigned 6,135,522 8,003,404 6,483,298 6,293,365 7,197,397 7,405,792 7,602,087
8,259,482
Unassigned Ending Balance $- $- $- $- $- $- $- $-
GRAND TOTAL ALL MUNICIPAL FUND TYPES
Total Revenues and Other Sources$ 33,089,535 $ 29,333,188 $ 47,488,728 $ 27,970,637 $ 29,842,481 $ 25,855,144 $ 24,297,766 $ 24,561,299
Total Expenditures and Other Uses(26,628,785)(30,359,092)(45,502,687)(33,222,035)(27,824,369)(27,608,826)(27,482,141)(26,626,529)
NET CHANGE TO FUND BALANCE6,460,749(1,025,905)1,986,040(5,251,398)2,018,112(1,753,682)(3,184,376)(2,065,231)
Beginning Fund Balance27,474,55733,935,30833,935,30835,921,34930,669,95032,688,06230,934,38027,750,004
Ending Fund Balance33,935,30632,909,40335,921,34930,669,95032,688,06230,934,38027,750,00425,684,773
Restricted/Committed/Assigned11,366,28713,767,86713,268,29514,363,18515,593,14115,529,31714,984,08015,235,770
Unassigned Ending Balance $ 20,516,518 $ 17,334,035 $ 20,691,551 $ 14,915,263 $ 15,498,369 $ 13,603,410 $ 10,759,120 $ 8,236,996
29
30
GENERAL FUND
OVERVIEW
The General Fundis the Town’s principal operating fund. It is supported by sales and use taxes,property
(ad valorem) taxes, planning and development fees, and other revenues. These revenuesmay be used for
a variety of purposes as determined by the Town Council. The General Fund budgetaccounts for core
Town services such as fire and emergency services, planning and development,public works, finance, and
administrative oversight.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Sales tax exceeded expectations by estimated $2.6m (netted against transfer to Economic
Development 4B Fund) as revenues in general were higher than anticipated but a >$2m one-time
anomaly was also received for February reporting period;
-Permits & fees estimated revenues were reduced by $871k as Entrada commercial and residential
didn’t move forward as expected;
-Miscellaneous permits and fees were increased $143k as per FYE (fiscal year-end) estimates;
-Miscellaneous income was reduced by $217k mainly due to pushing the $211k ARPA funds to FY23
revenue recognition;
- Franchise fees were reduced by $410k as per FYE estimates;
-Fines and forfeitures were reduced by $24k as per FYE estimates; and
-Transfer in from the Utility Fund increased by $82k per impact fees update.
Revisions to the adopted FY22 budget include:
-Increase in payrollby $412kdue to addition of 4 FTEs (DBA, Admin Assistant, WA Communications
Specialist, and Firefighter/Paramedic for the Academy), mid-year increase in Town Manager’s salary
approved by Council and then severance agreement for Town Manager at end of year;
-Increase in rent/lease & utilites by $108k as per FYE estimates (mainly water and ROW irrigation);
-Increase in services by $5k as per FYE estimates;
-Increase in supplies by $115k due to Council approved Audio/Visual Equipment/Softwarefor Swag-
It; and
-Decrease transfer out to Debt Service of $125k.
Revisions have affected fund balance in an increase of $811k, mainly due to increase in sales tax
revenues.
31
FY23PROPOSED
Revenues are proposed at $10.7m which is a 12% decline in the revised FY22 budget mainly due to one-
time sales tax revenues. Sales and use tax revenue is volatile with many variables to include one-time outlier
payments, economic pressures, and legislativechanges. It is proposed to generate a conservative 43% of
the General Fund revenues, retaining 75% and transferring the remaining 25% to the 4B Economic
Development Fund. The proposed budget is 35% reduced from the revised FY22 due to one-time revenues.
Property Tax represents 19% of overall revenues and has increased 18% in the General Fund from revised
FY22 though the rate of 0.16788/$100 assessed valuation has remained constant. Residential and
commercial building Permits and Fees make up 22% of revenues increasing in FY23 for anticipated
construction starts in Entrada, Westlake Ranch/Aspen Estates, Lifetime Fitness, and a 7-Eleven. Other less
significant revenue streams include Court Fines and Forfeitures, Interest Income, Beverage Tax, and
Franchise Fees, all of which are increased conservatively from the revised FY22 budget.
General Fund total expenditures of $15.8m are 8% higher than the revised FY22 budget, much of which
vastly relates to payroll representing 55% of total operational costs. Payroll is presented at a 4% increase
related to a market adjustmentand is reimbursed by both the Utility Fund and Visitors Association Fund for
the proportion of employees that work in those areas.Included in these numbers is also the remainder of
the severance agreement payout to the former Town Manager, as well as 3 additional full-time equivalent
staff members (FTEs). 22% of the operating expenditures proposed are in services, which has decreased
slightly from the revised FY22 budget, and includes the Keller Police Contract, attorneys’ fees, and
consultant fees. Less significant expenditures include rent and utilities, repair and maintenance, supplies,
and travel and training. Of the overall expenditures in the fund, transfers to internal service funds as well
as CIP and Visitors Associationfunds represents 25% of the total expenditures. These transfers support
finance projects, capital repairs and maintenance, and Debt Service.
Newto FY23 are transfers to Westlake Academy to include foundation staff full reimbursement and
operational costs to provide for their balanced budget. The Westlake Foundation will transfer Blacksmith
Donations raised to the Municipality via the General Fund. The General Fund will then transfer 100% of
those funds to Westlake Academywith any shortfall in the $1.1m budgetto be supplemented by the General
Fund’s fund balance.
The proposed FY23 ending fund balance is $8.2m, which is a 38% decrease from revised FY22. Transfers
out of the General Fundincluding additional support to the Westlake Academy, Payroll expenditure
increases, and reduction of sales tax revenues significantly contribute to this decline. Operating costs per
day is proposed at $32,475 with222 operating days which exceeds the required 180 minimum operating
days as determined by Council.
32
ONLY UPDATE THESE COLUMNS NOT THE WHOLE SPREADSHEET
GENERAL FUND
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Adopted
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
General Sales Tax$ 4,779,275$ 4,500,000$ 7,125,000$ 4,638,709$ 138,709 3%$ (2,486,291)-35%
Property Tax 2,017,446 1,705,163 1,705,163 2,004,100 298,937 18% 298,937 18%
Beverage Tax 23,269 40,000 40,000 42,000 2,000 5% 2,000 5%
Franchise Fees 735,262 942,125 532,225 547,135 (394,990)-42% 14,910 3%
Permits & Fees Other 360,760 213,563 356,563 252,750 39,187 18% (103,813)-29%
Permits & Fees Building 2,118,607 2,567,656 1,696,179 2,178,528 (389,128)-15% 482,349 28%
Fines & Forfeitures Court 582,854 475,600 474,500 503,585 27,985 6% 29,085 6%
Interest Income 23,696 48,800 24,345 28,800 (20,000) -41% 4,455 18%
Contributions 132,730 - - - -0% -0%
Misc Income 25,515 227,638 10,905 431,366 203,728 89% 420,461 3856%
Total Revenues 10,799,414 10,720,545 11,964,880 10,626,973 (93,572) -1% (1,337,907) -11%
Transfer In from Fund 500 Utility 205,014 68,000 150,000 67,225 (775) -1% (82,775) -55%
Total Other Sources 205,014 68,000 150,000 67,225 (775) -1% (82,775) -55%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 11,004,428$ 10,788,545$ 12,114,880$ 10,694,198 $ (94,347) -1%$ (1,420,682) -12%
EXPENDITURES & OTHER USES
Salaries$ 4,392,679$ 4,743,851$ 5,169,939$ 4,135,149$ (608,702) -13%$ (1,034,790) -20%
Transfers In (665,804) (1,080,019) (1,132,303) (1,158,375) (78,356) 7% (26,072) 2%
Transfers Out - - - 1,430,765 1,430,765 100% 1,430,765 100%
Insurance 569,643 606,511 606,511 811,821 205,31034% 205,31034%
Taxes 369,643 413,290 414,755 566,103 152,81337% 151,34836%
Retirement 507,354 550,216 586,973 706,891 156,67528% 119,91820%
Total Payroll and Related 5,173,516 5, 233,849 5,645,875 6,492,355 1,258,50624% 846,480 15%
Capital Outlay 26,162 38,215 38,215 35,350 (2,865)-7% (2,865)-7%
Debt Service 36,677 36,680 36,680 36,680 -0% -0%
Insurance 67,140 82,016 82,016 84,085 2,0693% 2,0693%
Leases and Rentals 10,930 50,135 58,135 11,287 (38,848) -77% (46,848) -81%
Public Notices 13,057 19,140 19,140 22,140 3,00016% 3,00016%
Rent & Utilities 838,800 789,344 889,594 933,683 144,33918% 44,0895%
Repair & Maintenance 299,076 404,600 404,600 473,735 69,13517% 69,13517%
Services 2,183,958 2,677,804 2,682,804 2,625,056 (52,748) -2% (57,748) -2%
Supplies 225,020 318,673 433,673 321,465 2,7921% (112,209)-26%
Travel & Training 130,755 227,038 227,038 264, 283 37,24516% 37,24516%
Westlake Academy Shared Services69,87268,00068,000553,234485,234714%485,234714%
Transfer Out Operating (DS-300) 357,169 125,237 - - (125,237)-100% -0%
Operations and Maintenance 4,258,616 4,836,882 4,939,895 5,360,998 524,116 11% 421,103 9%
TOTAL OPERATIONS and MAINTENANCE EXPENDITURES
$ 9,432,131$ 10,070,731$ 10,585,770$ 11,853,353 $ 1,782,622 18%$ 1,267,583 12%
Transfer Out to VA - 500,000 500,000 250,000 (250,000)100% (250,000)100%
Transfer Out to Fund 600 GMR 10,000 1,500,000 1,500,000 1,123,466 (376,534)-25% (376,534)-25%
Transfer Out to Fund 605 VMR-GF 75,000 1,000,000 1,000,000 1,500,000 500,000100% 500,000100%
Transfer Out to CP- 1,000,000 1,000,000 1,010,100 10,100100% 10,100100%
Total Transfers Out 85,000 4,000,000 4,000,000 3,883,566 (116,434) -3% (116,434) -3%
SUB-TOTAL NON-OPERATING EXPENDITURES
$ 85,000$ 4,000,000$ 4,000,000$ 3,883,566$ (116,434) -3%$ (116,434) -3%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 9,517,131$ 14,070,731$ 14,585,770$ 15,736,919 $ 1,666,188 12%$ 1,151,149 8%
33
ONLY UPDATE THESE COLUMNS NOT THE WHOLE SPREADSHEET
GENERAL FUND
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Adopted
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 1,487,297 (3,282,186) (2,470,890) (5,042,721) (1,760,535)54% (2,571,831)104%
FUND BALANCE, BEGINNING 14,252,036 15,739,333 15,739,333 13,268,443 (2,470,890)-16% (2,470,890)-16%
FUND BALANCE, ENDING
$ 15,739,333$ 12,457,147$ 13,268,443$ 8,225,722 $ (4,231,425) -34%$ (5,042,721) -38%
Restricted/Assigned/Committed Funds 657,776 298,560 1,011,684 1,011,684 713,124239% -0%
UNASSIGNED FUND BALANCE, ENDING
$ 15,081,557$ 12,158,587$ 12,256,759$ 7,214,038 $ (4,944,549) -41%$ (5,042,721) -41%
Operating Cost per Day$25,841$27,591$29,002$32,475$4,88418%$3,47312%
Operating Days 584 441 423 222 (219)-50% (200)-47%
Restricted Cash
Court Technology
100-10112-15-000$ 68,172$ 60,000$ 74,685$ 74,685$ 14,68520%$ -0%
Court Security 173,202 63,20236% -0%
100-10113-15-000 163,756 110,000 173,202
Court Efficiency 14,598 4,09828% -0%
100-10116-15-000 14,483 10,500 14,598
Court Cash Drawer 600 600 100% -0%
100-10111-15-000 600 - 600
Court County Bonds 38,277 38,277100% -0%
100-10114-15-000 37,291 - 38,277
Court Child Safety 51 51 100% -0%
100-10117-15-000 25 - 51
P&D Escrow 26,972 26,972100% -0%
100-10110-12-105 37,270 - 26,972
Tree Escrow 259,526 196,17676% -0%
100-10110-00-101 181,471 63,350 259,526
Street Escrow 54,707 (3) 0% -0%
100-10110-00-102 54,707 54,710 54,707
- -0% -0%
Open Space Escrow
100-10110-00-106 100,000 - -
2021 CLFRF - ARPA 369,066 369,066100% -0%
100-10107-00-000 - - 369,066
TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS
$ 657,776 $ 298,560 $ 1,011,684$ 1,011,684 $ 713,124 70%$ - 0%
34
35
GENERAL FUND
BY DEPARTMENT
Fiscal Year 2023
Town Town
Planning and Fire/EMS Municipal Public Facilities Finance Parks and
Department
Council General Services Manager's
Secretary's
Works Maintenance Department Recreation
Development Department Court
Office Office
REVENUES AND OTHER SOURCES
General Sales Tax $- $ 4,638,709 $- $- $- $- $- $- $- $- $-
Property Tax- 2,004,100 - - - - - - - - -
Beverage Tax- 42,000 - - - - - - - - -
Franchise Fees- 547,135 - - - - - - - - -
Permits & Fees Other- 2,750 - 150,000 - 100,000 - - - - -
Permits & Fees Building- - - 2,105,328 - 73,200 - - - - -
Fines and Forfeitures- - - - - - 503,585 - - - -
Investment Earnings- 25,000 - - - - 3,800 - - - -
Contributions- - - - - - - - - - -
Misc Income- 431,266 - - - 100 - - - - -
Total Revenues- 7,690,960 - 2,255,328 - 173,300 507,385 - - - -
Transfers In- - - - - - - - - - -
Total Other Sources- - - - - - - - - - -
TOTAL REVENUES AND OTHER SOURCES
$ - $ 7,690,960 $ - $ 2,255,328 $ - $ 173,300 $ 507,385 $ - $ - $
- $ -
EXPENDITURES AND OTHER USES
PR Salaries- 45,281 522,545 398,713 29,887 1,831,681 332,654 244,649 31,586 277,258 36,097
PR Transfer In $- $ (19,213) $ (307,848) $- $- $- $- $ (256,163) $- $ (277,177) $ (39,611)
PR Transfer Out- - - - - - - - - - -
PR Insurance- 11,101 92,488 40,854 23,021 295,216 86,316 34,153 5,653 109,393 5,653
PR Taxes- 4,598 66,350 34,978 8,712 248,712 44,064 33,969 3,035 46,604 3,035
PR Retirement- 7,229 105,504 51,243 13,455 248,075 52,512 35,400 4,729 72,543 4,729
Total Payroll & Related- 48,996 479,040 525,788 75,075 2,623,684 515,546 92,008 45,003 228,621
9,903
Capital Outlay- - - - - 21,900 - 1,000 6,500 - 2,200
Debt Service- 36,680 - - - - - - - - -
Insurance- 22,714 - - - 45,860 850 12,093 1,944 - 624
Leases and Rentals- 2,472 - - 250 - 1,075 - - - -
Public Notices- - - - 15,000 140 - - 1,500 - -
Rent & Utilities- 361,398 - - - 95,172 - 265,000 2,800 - 118,965
Repair & Maintenance- - - - - 59,445 690 102,669 114,231 - 76,700
Security- - - - - - - - - - -
Services 2,000 449,175 - 206,750 19,165 79,314 55,024 188,000 99,185 62,675
191,500
Supplies- 43,484 3,500 22,800 2,070 120,157 18,250 14,725 34,808 17,046 8,545
Transfer Out to DS- - - - - - - - - - -
Travel & Training- 46,040 35,350 9,800 9,610 60,110 8,954 7,581 10,320 10,913
5,000
Shared Services- - - - - - - - - - -
Total Operations 2,000 961,963 38,850 239,350 46,095 482,098 84,843 591,068 271,288
90,634 403,534
Transfers Out- - - - - - - - - - -
Other Uses- - - - - - - - - - -
Total Other Uses- - - - - - - - - - -
TOTAL EXPENDITURES AND OTHER USES
2,000 1,010,959 517,890 765,138 121,170 3,105,782 600,389 683,076 316,291 319,255 413,437
EXCESS REVENUES OVER (UNDER)
$ (2,000) $ 6,680,002 $ (517,890) $ 1,490,190 $ (121,170) $ (2,932,482) $ (93,004) $ (683,076) $ (316,291) $ (319,255) $ (413,437)
EXPENDITURES
36
GENERAL FUND
BY DEPARTMENT
Fiscal Year 2023
Information Human Commun- ** Westlake Transfers In and
Department
Police Services TOTAL
Technology Resources ications Academy Out
REVENUES AND OTHER SOURCES
General Sales Tax $- $- $- $- $- $- $ 4,638,709
Property Tax- - - - - - 2,004,100
Beverage Tax- - - - - - 42,000
Franchise Fees- - - - - - 547,135
Permits & Fees Other- - - - - - 252,750
Permits & Fees Building- - - - - - 2,178,528
Fines and Forfeitures- - - - - - 503,585
Investment Earnings- - - - - - 28,800
Contributions- - - - - - -
Misc Income - - - - - - 431,366
Total Revenues- - - - - - 10,626,973
Transfers In- - - - - 67,225 67,225
Total Other Sources- - - - - 67,225 67,225
TOTAL REVENUES AND OTHER SOURCES
$ - $ - $ - $- $- $ 67,225 $ 10,694,198
EXPENDITURES AND OTHER USES
PR Salaries 119,143 74,657 190,998 - - - 4,135,149
PR Transfer In $- $ (27,142) $ (231,221) $- $- $- $ (1,158,375)
PR Transfer Out- - - - 1,430,765 - 1,430,765
PR Insurance 52,253 14,311 41,409 - - - 811,821
PR Taxes 32,974 17,614 21,458 - - - 566,103
PR Retirement 50,985 27,200 33,287 - - - 706,891
Total Payroll & Related 255,355 106,640 55,931 - 1,430,765 - 6,492,355
Capital Outlay- - - - 3,750 - 35,350
Debt Service- - - - - - 36,680
Insurance- - - - - - 84,085
Leases and Rentals- - - - 7,490 - 11,287
Public Notices- 5,000 500 - - - 22,140
Rent & Utilities- - - - 90,348 - 933,683
Repair & Maintenance 57,500 - - - 62,500 - 473,735
Security- - - - - - -
Services 62,000 9,750 5,000 1,032,869 162,649 - 2,625,056
Supplies 8,270 3,650 3,000 - 21,159 - 321,465
Transfer Out to DS- - - - - - -
Travel & Training 11,115 12,950 24,545 - 11,995 - 264,283
Shared Services- - - - 553,234 - 553,234
Total Operations 138,885 31,350 33,045 1,032,869 913,126 - 5,360,998
Transfers Out- - - - - 3,883,566 3,883,566
Other Uses- - - - - - -
Total Other Uses - - - - - 3,883,566 3,883,566
TOTAL EXPENDITURES AND OTHER USES
394,240 137,990 88,976 1,032,869 2,343,891 3,883,566 15,736,919
EXCESS REVENUES OVER (UNDER)
$ (394,240) $ (137,990) $ (88,976) $ (1,032,869) $ (2,343,891) $ (3,816,341) $ (5,042,721)
EXPENDITURES
** Westlake Academy related
expenditures supported by
Municipal General Fund.
PR salaries are offset by PR
Transfers out when appropriate.
37
THE MUNICIPAL BUDGET HAS TWO ENTERPRISE FUNDS WHICH ARE USED TO REPORT
BUSINESS-TYPE ACTIVITIES.
38
CEMETERY FUND
OVERVIEW
This fund includes all operations associated with the 5.5-acre cemetery located on JT OttingerRoad. This
fund accounts for operational activities such as interment, lot sales, record keeping, and maintenance
(grounds, fences, trees and flower beds).
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase in section sales as per FYE estimates offset by small interest income reduction netting $11k.
No revisions to the adopted FY22 budget.
Revisions have affected fund balance in an increase of $11k.
FY23 PROPOSED
Revenues are proposed at $15k, of which sectional sales mark 80% of the total revenues. Overall revenues
are 31% decreased from the revised budget maintaining conservative projections for FY23.
Overall expenditures are $25k representing a 5% increase from the revised FY22 budget. Engineering and
landscaping costs mark 51% of the expenditures, though they stayed consistent year-over-year. ROW
Irrigation represents 11% of the budgeted expenditures and is anticipated to increase $1k in FY23.
The ending fund balance is proposed at $312,775, which is a 3% decrease from revised FY22.
39
CEMETERY FUND 255
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Charge for Service$ 25,145 $ 10,100$ 20,780$ 13,900$ 3,80038%$ (6,880)-33%
Investment Earnings 385 500 375 500 -0% 125 33%
Misc Income - 525 525 525 -0% - 0%
Total Revenues 25,530 11,125 21,680 14,925 3,800 34% (6,755) -31%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 25,530$ 11,125$ 21,680$ 14,925 $ 3,800 34%$ (6,755) -31%
EXPENSES & OTHER USES
Repair & Maintenance$ 78.52$ 4,875$ 4,875$ 4,875$ -0%$ - 0%
Services 7,981 16,311 16,311 17,486 1,1757% 1,1757%
Supplies 377 215 215 215 -100% -0%
Travel & Training - 2,625 2,625 2,625 -0% -0%
Operations and Maintenance 8,437 24,026 24,026 25,201 1,175 5% 1,175 5%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENSES 8,437 24,026 24,026 25,201 1,175 5% 1,175 5%
GRAND TOTAL ALL EXPENSES & OTHER USES
$ 8,437 $ 24,026$ 24,026$ 25,201 $ 1,175 5%$ 1,175 5%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENSES 17,093 (12,901) (2,346) (10,276) 2,625-20% (7,930)338%
FUND BALANCE, BEGINNING (Working Capital) 308,304 325,397 325,397 323,051 (2,346) -1% (2,346)-1%
FUND BALANCE, ENDING (Working Capital)
$ 325,397$ 312,496 $ 323,051$ 312,775 $ 279 0%$ (10,276) -3%
Restricted/Assigned/Committed Funds 325,397 312,496 323,051 312,775 279 0% (10,276)-3%
UNASSIGNED FUND BALANCE, ENDING
$ -$ - $ - $ - $ - 0%$ -0%
40
UTILITYFUND
OVERVIEW
This fund accounts for the acquisition, operation, and maintenance of water, and sewer. This fund is
primarily supported by service charges to utility (water and sewer) customers. The intent of this fund is for
the directbeneficiaries to pay for all costs of the fund, including debt service for utility system improvement
bonds, through fees for service.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Water and sewer revenues increased by $1.2m and $682k respectively and impact fees increased by
$83k, netting to overall increase in charges for service revenues by $2m;
-Duct bank permits decreased by $74k as per planning and development estimates, mainly in Entrada
residential;
-Interest income and miscellaneous income decreased $9k as per FYE estimates;
-General Obligations Refunding Bonds Series 2022 (GORB) were issued which satisfied the debt owed
to Hillwood Alliance Group for reimbursement obligations; bond proceeds increased other sources by
$15.7m.
Revisions to the adopted FY22 budget include:
-Payroll costs transfer to the General Fund was increased by $26k;
-2022 GORB increased debt service expenditures by $15.1m; and
-Transfers increased by $82k to the General Fund mainly due to the impact fees.
Revisions have affected fund balance by$2.4m mainly due to water and sewer revenue increase.
41
FY23 PROPOSED
Total revenues are proposed at $6m which is a74% decrease from revised FY22 mainly contributed to Debt
Service for the 2022 GORB. Charges for service represents 94% of the overall revenues and is decreasing
21% from revised FY22 due to water and sewer revenues conservatively estimated in FY23 even with 5%
1
rate increases. The droughtduring the summer of FY22 contributed to higher revenues than originally
anticipated in the year. Duct bank permit fees have beenprogrammed based on current prospects of
construction startsand are anticipated to increase contributing to the overall 21% on permits and fees
proposed revenues.
Overall expenditures in this fund are proposed at $6.8m which is a 68% decrease from revised FY22, though
this decline is largely due to the bond issuance payment to satisfy reimbursement obligations with Hillwood
Alliance Group. Of overall expenditures, payroll transfers to the General Fund are 8%, debt service is 16%,
and services are 55%. Services increased 7% from revised FY22 mainly due to increased water purchases
from Ft. Worth. Transfers out are 13% of overall expenditures with the bulk going to the Utility Maintenance
and Replacement internal service fund, and a small portion going to the General Fund for impact fees.
No debt issuance from this fund is planned for FY23 or the outyears at this time.
The proposed ending fund balance of $8m is an 8% decrease from revised FY22 with a $734k net change.
Operating costs per day is proposed at $18,703 with 429 operating days which exceeds the required 180
minimum operating days as determined by Council.
1
Driest year to date over the past 128 years (January-July 2022). Source: Tarrant County Conditions | Drought.gov.
42
UTILITY FUND 500
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Charge for Service$ 5,967,532$ 5,337,455$ 7,307,143$ 5,738,132$ 400,6778%$ (1,569,011)-21%
Permits & Fees Utility230,575342,411268,011323,218(19,193)-6%55,20721%
Investment Earnings10,58915,00012,30015,000- 0%2,70022%
Misc Income19,04818,02511,97516,500(1,525)-8%4,52538%
Total Revenues6,227,7445,712,8917,599,4296,092,850379,9597%(1,506,579)-20%
Other Sources - -15,727,543 -- 0%(15,727,543)-100%
Total Transfer In and Other Sources - -15,727,543--0%(15,727,543)-100%
GRAND TOTAL REVENUES & OTHER SOURCES
$6,227,744$5,712,891$23,326,972$6,092,850$379,9597%$(17,234,122)-74%
Compensated Absences$ 3,729$ 9,195$ 9,195$ 4,645$ (4,550)-49%$ (4,550)-49%
Transfers Out475,706582,764608,906569,460(13,304)-2%(39,446)-6%
Taxes3,6733,9303,9303,930 -100% -100%
Total Payroll and Related485,832595,889622,031578,035(17,854)-3%(43,996)-7%
Capital Outlay32,92538,05538,05525,780(12,275)-32%(12,275)-32%
Debt Service987,1211,020,85716,155,4511,067,57446,7175%(15,087,878)-93%
Leases and Rentals -1,5001,5001,500 -0% -0%
Rent & Utilities147,640191,297191,297204,13612,8397%12,8397%
Repair & Maintenance179,280154,065154,065330,299176,234114%176,234114%
Services2,824,2093,487,4443,487,4443,729,371241,9277%241,9277%
Supplies15,5789,5409,54013,7034,16344%4,16344%
Travel & Training6507,7957,7958,7951,00013%1,00013%
Operations and Maintenance4,187,4034,910,55320,045,1475,381,158470,60510%(14,663,990)-73%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENSES 4,673,2355,506,44220,667,1785,959,192452,7508%(14,707,986)-71%
Transfer out to Fund 100 General Fund$ 205,014$ 68,000$ 150,000$ 67,225$ (775)-1%$ (82,775)-55%
Transfer out to Fund 505 Utility Vehicle60,00065,00065,000 -(65,000)-100%(65,000)-100%
Transfer out to Fund 510 Utility M&R30,000350,000350,000800,000450,000129%450,000129%
Total Transfers Out and Other Uses295,014483,000565,000867,225384,22580%302,22553%
SUB-TOTAL NON-OPERATING EXPENSES295,014483,000565,000867,225384,22580%302,22553%
GRAND TOTAL ALL EXPENSES & OTHER USES
$4,968,249$5,989,442$21,232,178$6,826,417$836,97514%$(14,405,761)-68%
EXCESS REVENUES OVER(UNDER) EXPENSES1,259,496(276,551)2,094,793(733,567)(457,016)165%(2,828,361)-135%
FUND BALANCE, BEGINNING (Working Capital)5,397,1996,656,6946,656,6948,751,4872,094,79331%2,094,79331%
FUND BALANCE, ENDING (WORKING CAPITAL)
$6,656,694$6,380,143$8,751,487$8,017,920$1,637,77726%$(733,567)-8%
Restricted/Assigned/Committed Funds1,221,7331,204,695316,695316,695(888,000)-74% -0%
UNASSIGNED FUND BALANCE, ENDING
$5,434,961$5,175,448$8,434,792$7,701,225$2,525,77749%$(733,567)-9%
Hillwood$888,000$888,000$-$-$(888,000)-100%$-0%
Deposits230,065213,027213,027 -0% -0%
213,027
Cash-USB UF500 Restricted103,668103,668103,668103,668 -0% -0%
TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS$1,221,733$1,204,695$316,695$316,695$(888,000)-74%$-0%
43
UTILITY FUND 500
DEBT SERVICE
REFUNDING OF HILLWOOD DEBTTWDB/NS II 30-INCH WATR MAIN FORT WORTH
Series 2022 GORBSERIES 2018 CO
PymtFiscal
No.YearPrincipalInterestTotalPrincipalInterestTotal
12023$370,000 $496,100 $866,100 $95,000 $50,886 $145,886
22024385,000 481,000 866,000 95,000 48,563 143,563
32025400,000 465,300 865,300 95,000 46,164 141,164
42026420,000 448,900 868,900 100,000 43,638 143,638
52027435,000 431,800 866,800 105,000 40,932 145,932
62028450,000 414,100 864,100 105,000 38,118 143,118
72029470,000 395,700 865,700 110,000 35,160 145,160
82030490,000 376,500 866,500 110,000 32,080 142,080
92031510,000 356,500 866,500 115,000 28,884 143,884
102032530,000 335,700 865,700 120,000 25,482 145,482
112033555,000 314,000 869,000 120,000 21,966 141,966
122034575,000 291, 400866, 400125,000 18,284 143,284
132035595,000 270,975 865,975 130,000 14,382 144,382
142036615,000 252,825 867,825 130,000 10,404 140,404
152037635,000 234,075 869,075 135,000 6,350 141,350
162038650,000 214,800 864,800 140,000 2,142 142,142
172039670,000 195,000 865,000 - - -
182040690, 000174,600 864,600 - - -
192041715,000 153,525 868,525 - - -
202042735,000 131,775 866,775 - - -
212043755,000 109,425 864,425
222044780,000 86,400 866,400 - - -
232045805,000 62,625 867,625
242046830,000 38, 100868, 100- - -
252047855,000 12,825 867,825
TOTAL
$ 14,920,000 $ 6,743,950 $ 21,663,950 $ 1,830,000 $463,435 $ 2,293,435
Issued By:US BankUS BANK
Original Issue:$14,920,000$2,100,000
Issue Date:March, 2022October, 2018
End Date:25 years = 204720 years = 2038
44
UTILITY FUND 500
DEBT SERVICE
GROUND STORAGE TANKGRAND TOTAL
SERIES 2013 CO (UF Portion)
PymtFiscal
PrincipalInterestTOTAL
No.YearPrincipalInterestTotal
12023$ 25,300 $ 30,288 $ 55,588 $ 490,300 $ 577,274 $ 1,067,574
22024 26,400 29,512 55,912 506,400 559,075 1,065,475
32025 26,400 28,720 55,120 521,400 540,184 1,061,584
42026 28,050 27,904 55,954 548,050 520,442 1,068,492
52027 28,600 27,018 55,618 568,600 499,750 1,068,350
62028 29,700 26,071 55,771 584,700 478,289 1,062,989
72029 42,900 24,837 67,737 622,900 455,697 1,078,597
82030 44,550 23,307 67,857 644,550 431,887 1,076,437
92031 45,650 21,728 67,378 670,650 407,112 1,077,762
102032 65,450 19,621 85,071 715,450 380,803 1,096,253
112033 34,650 17,619 52,269 709,650 353,585 1,063,235
122034 36,300 16,200 52,500 736,300 325,884 1,062,184
132035 37,950 14,715 52,665 762,950 300,072 1,063,022
142036 39,600 13,164 52,764 784, 600 276,393 1,060,993
152037 40,700 11,634 52,334 810,700 252,059 1,062,759
162038 42,350 10,129 52,479 832,350 227,071 1,059,421
172039 44,000 8,564 52,564 714,000 203,564 917,564
182040 45,650 6,853 52,503 735,650 181,453 917,103
192041 47,300 4,994 52,294 762,300 158,519 920,819
202042 49,500 3,058 52,558 784,500 134,833 919,333
212043 51,700 1,034 52,734 806,700 110,459 917,159
222044 - - - 780,000 86,400 866,400
232045 805,000 62,625 867,625
242046 - - - 830,000 38,100 868,100
252047 855,000 12,825 867,825
TOTAL
$ 832,700 $ 366,970 $ 1,199,670 $ 17,582,700 $ 7,574,355 $ 25,157,055
Issued By:US Bank
Original Issue:$1,025,020
Issue Date:April, 2013
End Date:30 years = 2043
45
THE MUNICIPAL BUDGET HAS FOUR INTERNAL SERVICE FUNDS TO HELP PLAN FOR
THE MAINTENANCE AND REPLACEMENT COSTS. THE MAINTENANCE AND
REPLACEMENT FUNDS PROVIDE MONEY TO PLAN FOR FUTURE FACILITY FINANCIAL
REQUIREMENTS BY TRANSFERRING MONEY INTO THESE FUNDS AS ECONOMICALLY
PRUDENT. THE VEHICLE REPLACEMENTFUND ACCOUNTS FOR THE RESOURCES
NEEDED TO MANAGE THE PURCHASE OF VEHICLES AND HEAVY EQUIPMENT FOR THE
TOWN’S FLEET. THE ESTABLISHMENT AND FUNDING OF THE VEHICLE AND HEAVY
EQUIPMENT REPLACEMENT PROGRAM WAS DESIGNED TO EVEN OUT EXPENSES FOR
THE TOWN’S FLEETFROM YEAR TO YEAR AND PROVIDES A LOGICAL METHOD FOR
PURCHASING AND RETIRING VEHICLES.
46
UTILITY VEHICLE MAINTENANCE &
REPLACEMENT FUND
OVERVIEW
The Utility Fund Vehicle Maintenance & Replacement Fund allows for the long-term repair and
replacement of Municipal Utility Fund vehicles. Vehicles are designated for replacement based on a long-
range depreciationschedule, periodic evaluations of repair versus replacement costs, and recommended
replacement guidelines.Routine scheduled maintenance is also factored into vehicle maintenance and
replacement funding calculations.Vehicle maintenance and replacement is designed to reduce reliance
on future bond programs and encourage amore conservative pattern of spending that minimizes reliance
on elastic revenue streams.
This fund receives planned revenue transfers from each operating fund that owns and maintains capital
assets. Accumulated funds are intended to cover the cost of future capital repair and replacement.
FY22 REVISION
No revisions to the adopted FY22 budget.
No revisions to the adopted FY22 budget.
No change to ending fund balance.
FY23 PROPOSED
Only interest income is programmed for FY23 at $25. There is no transfer in from the Utility Fund.
There are no planned expenditures for FY23.
The proposed ending fund balance of $26,819 which is only slightly increased from revised FY22 from
interest income.
47
UTILITY VEHICLE MAINTENANCE & REPLACEMENT FUND 505
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Charge for Service$ - $ -$ -$ - $ - 0%$ - 0%
Investment Earnings (3) 25 2525 - 0%- 0%
Total Revenues (3) 25 25 25 - 0%- 0%
Transfer In from Fund 100 General Fund - - - - - 0%- 0%
Transfer In from Fund 500 Utility Fund 60,000 65,000 65,000 - (65,000) -100% (65,000) -100%
Total Transfers In and Other Sources 60,000 65,000 65,000 - (65,000)-100% (65,000) -100%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 59,997$ 65,025$ 65,025$ 25 $ (65,000) -100%$ (65,000) -100%
EXPENDITURES & OTHER USES
Capital Outlay$ 37,913$ -$ -$ -$ -0%$ - 0%
Operations and Maintenance 37,913 - - - -
0%- 0%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES $ 37,913$ -$ -$ - $ - 0%$ - 0%
Projects - Maintenance & Replacement - 65,000 65,000 - (65,000)-100% (65,000)-100%
Total Capital and Mainteance & Replacement - 65,000 65,000 - (65,000)-100% (65,000) -100%
SUB-TOTAL NON-OPERATING EXPENDITURES$ - $ 65,000$ 65,000$ - $ (65,000) -100%$ (65,000) -100%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 37,913$ 65,000$ 65,000$ - $ (65,000) -100%$ (65,000) -100%
EXCESS REVENUES OVER(UNDER) EXPENDITURES22,084 25 2525 - - --
FUND BALANCE/WORKING CAPITAL, BEGINNING4,685 26,769 26,769 26,79425 0% 250%
FUND BALANCE/WORKING CAPITAL, ENDING
$ 26,769$ 26,794$ 26,794$ 26,819$ 250%$ 25 0%
Restricted/Assigned/Committed Funds26,769 26,794 26,794 26,819 25 0% 250%
48
UTILITY
Vehicle Maintenance & Replacement Fund 505
Five Year Forecast
AuditedAdoptedRevisedProposedProjectedProjectedProjectedProjected
ActualsBudgetBudgetBudgetBudgetBudgetBudgetBudget
Description FY 2021FY 2022FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
REVENUES & OTHER SOURCES
Transfer In from UF$ 60,000$ 65,000$ 65,000$ -$ 65,000$ - $ -$ -
Interest Earned (3) 25 25 25 50 505 0 50
TOTAL REVENUES AND OTHER SOURCES$ 59,997 $ 65,025$ 65,025$ 25 $ 65,050 $ 50 $ 50$ 50
EXPENDITURES & OTHER USES
Motor Vehicle 37,913 65,000 65,000 - - - - 65,000
TOTAL EXPENDITURES
$ 37,913 $ 65,000 65,000 $ - - - - 65,000
Excess Revenues over(under) Expenditures 22,084 25 25 25 65,050 505 0 (64,950)
BEGINNING FUND BALANCE 4,685 26,769 26,769 26,794 26,819 91,869 91,919 91,969
ENDING FUND BALANCE$ 26,769 $ 26,794$ 26,794$ 26,819 $ 91,869 $ 91, 919$ 91,969 $ 27,019
49
UTILITY MAINTENANCE &
REPLACEMENT FUND
OVERVIEW
The Utility Maintenance & Replacement Fund was created to provide a mechanism for repair and
replacement of existing capital assets such as pump stations, lift stations, elevated and ground storage
facilities, water and sewer lines, etc. This fund receivesplanned revenue transfers from the Utility Fund
that are intended to cover the cost of future capital repair and replacement. This fund is designed to
reduce reliance on future bond programs and encourage a conservative pattern of spending that
minimizes reliance on elastic revenue streams. Projects are included each year from a long-range
maintenance schedule which incorporates routine scheduled maintenance, recommended replacement
guidelines and evaluations, and upgrades of lines and permanent capital assets. This fund receives
planned revenue transfers from each operating fund that owns and maintains capital assets. Accumulated
funds are intended to cover the cost of future capital repair and replacement.
This fund receives planned revenue transfers from each operating fund that owns and maintains capital
assets. Accumulated funds are intended to cover the cost of future capital repair and replacement.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Reduction in investment income by $1k as per FYE estimates.
No revisions to the adopted FY22 budget.
Revisions have affected fund balance in a decrease in fund balance by $1k.
FY23 PROPOSED
Revenues are proposed at $801k mostly from a transfer in from the Utility Fund.
The majority of expenditures is in the pump station equipment line at 49% of overall costs and is proposed
to increase in FY23 to add a new generator and reducing the outyear maintenance. The Lift Station Pump
line is also increasing in FY23 for rebuilding/replacement costs.
Ending fund balance is proposed to increase by $215k due to transfers in.
50
UTILITY MAINTENANCE & REPLACEMENT FUND 510
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vs
vs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Investment Earnings 468 1,750 475 1,000 (750) -43% 525 111%
Total Revenues 468 1,750 475 1,000 (750) -43% 525 111%
Transfer In from Fund 500 Utility Fund 30,000 350,000 350,000 800,000 450,000 129% 450,000 129%
Total Transfers In and Other Sources 30,000 350,000 350,000 800,000 450,000 129% 450,000 129%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 30,468$ 351,750$ 350,475$ 801,000 $ 449,250 128%$ 450,525 129%
Capital Outlay - - - 50,000 50,0000% 50,0000%
Operations and Maintenance - - - 50,000 50,000 0% 50,000 0%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES $ -$ -$ -$ 50,000 $ 50,000 0%$ 50,000 0%
6,087 514,000 514,000 536,000 22,0004% 22,0004%
Projects - Maintenance & Replacement
Total Capital and Mainteance & Replacement 6,087 514,000 514,000 536,000 22,000 4% 22,000 4%
SUB-TOTAL NON-OPERATING EXPENDITURES$ 6,087$ 514,000$ 514,000$ 536,000 $ 22,000 4%$ 22,000 4%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 6,087$ 514,000$ 514,000$ 586,000 $ 72,000 14%$ 72,000 14%
EXCESS REVENUES OVER(UNDER) EXPENDITURES 24,381 (162,250) (163,525) 215,000 377,250-233% 378,525-231%
FUND BALANCE/WORKING CAPTIAL, BEGINNING 280,657 305,038 305,038 141,513 (163,525) -54% (163,525) -54%
FUND BALANCE/WORKING CAPITAL, ENDING
$ 305,038 $ 142,788$ 141,513$ 356,513 $ 213,725 150%$ 215,000 152%
Restricted/Assigned/Committed Funds 305,038 142,788 141,513 356,513 213,725150% 215,000152%
51
UTILITY
Maintenance & Replacement Fund 510
Five Year Forecast
AuditedAdoptedRevisedProposedProjectedProjectedProjectedProjected
ActualsBudgetBudgetBudgetBudgetBudgetBudgetBudget
Description FY 2021FY 2022FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
REVENUES & OTHER SOURCES
Interest Income$ 468$ 1,750$ 475$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000
Transfer in from UF 30,000 350,000 350,000 800,000 150,000 150,000 150,000 -
TOTAL REVENUES AND OTHER SOURCES$ 30,468 $ 351,750 $ 350,475 $ 801,000$ 151,000 $ 151,000 $ 151,000 $ 1,000
MAINTENANCE/REPLACEMENT PROJECTS
Pump Station Equip Replacement$ -$ 190,000$ 190,000$ 290,000 $ 10,000 $ 25,000 $ 50,000 $ 10,000
Lift Station Pump Replacement - 20,000 20,000 80,000 15,000 10,000 25,000 10,000
Fire Hydrant Repair & Painting - - - 45,000- - - -
Sewer Easement Cleaning Machin - 68,000 68,000 -- - - -
Water Main R&M - 20,000 20,000 32,000 20,000 20,000 20,000 20,000
Lift Station R&M - 15,000 15,000 30,000 35,000 10,000 10,000 10,000
Pump Station R&M 4,337 - - - 10,000 15,000 10,000 5,000
Pump Station Gate Retro-Fit - - - 4,000- - - -
Pump/Motor Repair 1,750 175,000 175,000 10,000 20,000 10,000 10,000 30,000
Duct Bank R&M - 5,000 5,000 5,000 10,000 5,000 5,000 10,000
Sewer Line R&M - 15,000 15,000 10,000 15,000 15,000 15,000 15,000
Water Meters/Equipment - - - 50,000 5,000 5,000 5,000 5,000
Public Works Equipment - 6,000 6,000 30,000 3,000 3,000 3,000 3,000
TOTAL PROJECTS$ 6,087$ 514,000 $ 514,000 $ 586,000$ 143,000 $ 118,000 $ 153,000 $ 118,000
Excess Revenues over(under) Expenditures 24,381 (162,250) (163,525) 215,000 8,000 33,000 (2,000) (117,000)
BEGINNING FUND BALANCE 280,657 305,038 305,038 141,513 356,513 364,513 397,513 395,513
ENDING FUND BALANCE$ 305,038 $ 142,788 $ 141,513 $ 356,513$ 364,513 $ 397,513 $ 395,513 $ 278,513
52
GENERAL MAINTENANCE &
REPLACEMENT FUND
OVERVIEW
The General Maintenance & Replacement Fund allows for the long-term repair and replacement of large
capital assets such as HVAC, walls, floors and ceilings, plumbing, electric, roadways, etc. This fund is
designed to reduce reliance on future bond programs, encourage a conservative pattern of spending, and
minimize reliance on revenue streams that are vulnerable to fluctuations in the economy. 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, infrastructure and permanent
capital assets.
This fund receives planned revenue transfers from each operating fund that owns and maintains capital
assets. Accumulated funds are intended to cover the cost of future capital repair and replacement.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Reduction in interest income by $1k as per FYE estimates.
Revisions to the adopted FY22 budget include:
-Decrease fire department Lifepack equipment (moved to FY23 due to delivery timing) by $44k;
-Decrease Road/Street improvements by $55k as per FYE estimates;
-Decrease Westlake Academy facilities by $21k as per FYE estimates;
-Decrease Town facilities by $6k as per FYE estimates;
Revisions have affected fund balance with an increase of $125k.
53
FY23 PROPOSED
The transfer in from the General Fund of $1.1m represents 95% of overall revenues of $1.2m.
Of the total $1.3m of expenditures, 64% of the FY23 expenditures are comprised of Westlake Academy
facility and IT maintenance. The anticipated phone and network replacement in both Municipal and
Academic entities increase the overall costs in FY23-25. The Fire/EMS department represents 12% of
expenditures with radios consuming much of that amount. Many repair and maintenance line items were
analyzed over a 5-year period of actuals, the approximate sum of which were moved into newly created
contingency accounts. If those estimated amounts are exceeded by unforeseen issues, budget
amendments will be presented to Council for consideration in FY23.
The ending fund balance is proposed at $979k, representing an 8% decrease from revised FY22 mainly due
to a decrease in the transfer in from the General Fund.
54
GENERAL MAINTENANCE & REPLACEMENT FUND 600
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Interest Income$ 1,381$ 2,000$ 1,050$ - $ (2,000) -100%$ (1,050) -100%
Contributions 172,500 60,000 60,000 60,000 - 100%- 0%
Misc Income/Grant 25,000- - - - 0%- 0%
Total Revenues 198,881 62,000 61,050 60,000 (2,000) -3% (1,050) -2%
Transfer In from Fund 100 General Fund 10,000 1,500,000 1,500,000 1,123,466 (376,534) -25% (376,534) -25%
Total Transfers In and Other Sources 10,000 1,500,000 1,500,000 1,123,466 (376,534) -25% (376,534) -25%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 208,881$ 1,562,000$ 1,561,050 1,183,466 (378,534) -24% (377,584) -24%
EXPENDITURES & OTHER USES
Repair & Maintenance$ -$ 60,000$ 60,000$ 308,000 $ 248,000100%$ 248,000100%
Operations and Maintenance - 60,000 60,000 308,000 248,000 100% 248,000 100%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES $ -$ 60,000$ 60,000 308,000 248,000 100% 248,000 100%
Projects - Maintenance & Replacement 381,692 1,231,287 1,105, 742 958,545 (272,742)-22% ( 147,197)-13%
Total Capital and Mainteance & Replacement 381,692 1,231,287 1,105,742 958,545 (272, 742)-22% ( 147,197)-13%
SUB-TOTAL NON-OPERATING EXPENDITURES$ 381,692$ 1,231,287$ 1,105,742 958,545 (272, 742)-22% ( 147,197)-13%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 381,692$ 1,291,287$ 1,165,742$ 1,266, 545$ (24, 742)-2%$ 100, 8039%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES (172,810) 270,713 395,308 (83,079) (353,792)-131% ( 478,387)-121%
FUND BALANCE, BEGINNING 839,526 666,715 666,715 1,062,023 395,30859% 395,30859%
FUND BALANCE, ENDING
$ 666,715$ 937,428 $ 1,062,023$ 978,944 $ 41,516 4%$ (83, 079)-8%
Restricted/Assigned/Committed Funds 666,715 937,428 1,062, 023 978,944 41,5164% (83,079)-8%
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ -$ - $ - 0%$ -0%
55
GENERAL
Maintenance & Replacement Fund 600
Five Year Forecast
AuditedAdoptedRevisedProposedProjectedProjectedProjectedProjected
ActualsBudgetBudgetBudgetBudgetBudgetBudgetBudget
Description
FY 2021FY 2022FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
REVENUES & OTHER SOURCES
WA Facilities Allotmentn/a$ 60,000$ 60,000$ 60,000$ 60,000$ 60,000$ 60,000$ 60,000$ 60,000
Contributionsn/a 112,500 - - - - - - -
Sale of Surplusn/a - - - - - - - -
Interest Incomen/a 1,381 2,000 1,050 - - - - -
TEA-Safety & Security Grantn/a 25,000 - - - - - - -
Transfer in from GFn/a 10,000 1,500,000 1,500,000 1,123,466 950,000 950,000 950,000 100,000
TOTAL REVENUES AND OTHER SOURCES$ 208,881 $ 1,562,000 $ 1,561,050 $ 1,183,466 $ 1,010,000 $ 1,010,000 $ 1,010,000 $ 160,000
EXPENDITURES AND OTHERS USES
Fire Dept Equipment 59$ -$ 78,287$ 34,242$ 44,045$ - $ - $ - $ -
Communications 60 - 60,000 60,000 108,000 - - - -
TOTAL FIRE/EMS - 138,287 94,242 152,045 - - - -
Illuminated Street Name Signs 36 - 25,000 10,000 10,000 10,000 -
10,000 10,000
Solana Pavement Repair 46 - 30,000 15,000 - - 50,000 - 25,000
FM 1938 Pavement Repairs 46 - 90,000 50,000 - 80,000 20,000 20,000 10,000
SH 114 Repainting 48 - 30,000 30,000 50,000 15,000 - 40,000 -
Dove/Ottinger Surface Treatmen 51 85,449 - - - 15,000 - - 15,000
Street Signs and Signal Lights 59 1,800 15,000 15,000 - 10,000 20,000 10,000 5,000
Street Staining/Maintenance 60 18,152 100,000 100,000 100,000 100,000 50,000 10,000 100,000
Road R&M 60 - - - - 30,000 30,000 30,000 40,000
Contingency R&M 60 - - - 58,491 30,000
30,000 30,000 40,000
TOTAL PUBLIC WORKS 105,401 275,000 220,000 233,491 290,000 210,000 150,000 235,000
WA Facilities Allotment Exp - - 60,000 60,000 60,000 60,000 60,000 60,000 60,000
WA-Irrigation System 7 - 10,000 10,000 - 5,000 10,000 5,000 5,000
WA-Carpet/Flooring R&M 8 17,278 25,000 14,500 - 10,000 10,000 30,000 10,000
WA-Ext Envrnmt Imprvmts Irrig 9 - 10,000 10,000 - 10,000 10,000 10,000 5,000
WA-Envrnmt Bldg UG light/water 10 - 5,000 5,000 - 5,000 5,000 50,000 5,000
WA-Bldg Exterior Paint/R&M 11 21,535 10,000 10,000 - 15,000 15,000 15,000 15,000
WA-Painting/Cloth Wall R&M 12 - 5,000 5,000 - 15,000 5,000 5,000 5,000
WA-Roof Repairs
13 50,171 20,000 10,000 - 10,000 10,000 10,000 10,000
WA-Parking Lot 15 - - - - 10,000 5,000 5,000 20,000
WA-Refurbish Classrooms 17 18,445 20,000 20,000 - 25,000 25,000 25,000 25,000
WA-Security System 18 3,073 5,000 5,000 - 20,000 5,000 5,000 5,000
WA-Security Cameras 19 5,860 5,000 5,000 - 15,000 5,000 5,000 5,000
WA Security Fence/Cameras 19 2,402 - - - 3,000 15,000 3,000 3,000
WA-Interior Building R&M 23 - 35,000 35,000 - 40,000 35,000 30,000 30,000
WA-15 Ton Split HVAC System 24 8,635 200,000 200,000 254,000 160,000 160,000 10,000 10,000
WA-2 Ton Roof Top Units 25 8,600 15,000 15,000
- 5,000 5,000 5,000 5,000
WA-AC ton/7.5 ton server room 26 - 10,000 10,000 - 10,000 5,000 5,000 5,000
WA-Heater Boilers 29 - 5,000 5,000 - 20,000 5,000 25,000 5,000
WA-HVAC System Replacement 32 - 150,000 150,000 - 5,000 5,000 5,000 5,000
WA-Plumbing Repair/Replacement 36 - 5,000 5,000 - 10,000 5,000 5,000 5,000
WA Playground Equipment 40 - - - - - 50,000 - -
WA-Furniture/Interior Bldg 45 - 5,000 5,000 150,000 150,000 100,000 5,000 5,000
WA Fire Alarm System Allotment 63 78,166 - - - 5,000 10,000 - 5,000
Contingency R&M - - - 87,925 - - - -
TOTAL ACADEMY FACILITIES MAINTENANCE 214,164 600,000 579,500 551,925 608,000 560,000 318,000 248,000
56
GENERAL
Maintenance & Replacement Fund 600
Five Year Forecast
AuditedAdoptedRevisedProposedProjectedProjectedProjectedProjected
ActualsBudgetBudgetBudgetBudgetBudgetBudgetBudget
Description
FY 2021FY 2022FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
Park Repairs and Maintenance 43 9,973 25,000 25,000 - 25,000 25,000 25,000 25,000
Trail Repairs and Maintenance 14 - 20,000 20,000 - 20,000 20,000 25,000 25,000
- - - 16,981 20,000 20,000 25,000 25,000
Misc Income
TOTAL PARKS & RECREATION 9,973 45,000 45,000 16,981 65,000 65,000 75,000 75,000
Servers & Network Storage 20 18,232 15,000 15,000 90,000 30,000 30,000 - -
Network Printers/Peripheal Dev 21 2,195 5,000 5,000 2,500 5,000 5,000 - -
Network Equipment 27 1,599 15,000 15,000 1,250 15,000 15,000 15,000 -
Phone System/Peripheal Devices 28 2,725 15,000 15,000 12,500 20,000 20,000 - -
Server Replacements 33 18,785 60,000 60,000 10,000 65,000 65,000 - -
Audio/Visual Equipment 34 - - - 15,000 25,
25,000 000 25,000 100,000
TOTAL INFORMATION TECHNOLOGY 43,535 110,000 110,000 131,250 160,000 160,000 40,000 100,000
Town-Irrigation R&M 7 - 5,000 5,000 - 8,000 5,000 6,000 8,000
Town-Carpet/Flooring R&M 8 - - - - 10,000 20,000 10,000 5,000
Town-Environmental Improvement 9 - 5,000 5,000 - 5,000 5,000 5,000 5,000
Town-Env Bldg UG light/water 10 - 8,000 2,000 - 5,000 5,000 10, 000 5,000
Town-Bldg Exterior Paint/R&M 11 - 5,000 5,000 - 10,000 5,000 5,000 5,000
Town-Painting/Cloth Wall R&M 12 - 4,000 4,000 - 3,000 3,000 3,000 3,000
Town-Roof Repairs 13 - 5,000 5,000 - 7,000 5,000 5,000 3,000
Town-Parking Lot
15 - 3, 000 3,000 - 3,000 3,000 15,000 3,000
Town-Security System 18 3,550 10,000 10,000 5,000 10,000 10,000 5,000 3,000
Town-Security Cameras 19 - 5,000 5,000 5,000 10,000 5,000 5,000 5,000
Town-Interior Building R&M 23 4,322 5,000 5,000 - 5,000 5,000 5,000 5,000
Town-AC ton/7.5 ton server roo 26 - 3,000 3,000 - 5,000 2,000 3,000 3,000
Town-HVAC System Replacement 32 - 5,000 5,000 - 3,000 5,000 3,000 5,000
Town-Plumbing Repair/Replace 36 - 4,000 4,000 - 2,000 4,000 2,000 2,000
Town-Furniture/Interior Bldg 45 746 3,000 3,000 - 3,000 3,000 3,000 10,000
Town-Furniture/Interior Bldg 52 - - -
- - - - -
Town Open Space Improvements 52 - 40,000 40,000 - 45,000 45,000 45,000 45,000
Town-Contract Landscaping 56 - 5,000 5,000 - 7,000 5,000 5,000 5,000
Town-Ground R&M 57 - 3,000 3,000 3,000 3,000 3,000 3,000 3,000
Town-Safety Doors 58 - 5,000 5,000 - 3,000 10,000 3,000 3,000
- - - 36,604 3,000 10,000 3,000 3,000
Contributions
TOTAL TOWN FACILITIES MAINTENANCE 8,618 123,000 117,000 49,604 150,000 158,000 144,000 129,000
Servers & Network St 45 - - - 90,000 - - - -
Network Printers/Peripheal Dev 52 - - - 2,500 45,000 45,000 45,000 45,000
Network Equipment
52 - - - 1,250 7,000 5,000 5,000 5,000
Phone System/Peripheral 57 - - - 12,500 3,000 3,000 3,000 3,000
Server Replacements 56 - - - 10,000 3,000 10,000 3,000 3,000
Audio/Visual Equipment 58 - - - 15,000 25,000 25,000 25,000 100,000
TOTAL TOWN FACILITIES MAINTENANCE - - - 131,250 83,000 88,000 81,000 156,000
GRAND TOTAL PROJECTS$ 381,692 $ 1,291,287 $ 1,165,742 $ 1,266,545 $ 1,356,000 $ 1,241,000 $ 808,000 $ 943,000
SUMMARY
Excess Revenues over(under) Expenditures (172,810) 270,713 395,308 (83,079) (346,000) (231,000) 202,000 (783,000)
BEGINNING FUND BALANCE 839,526 666,715 666,715 1,062,023 978,944 632,944 401,944 603,944
ENDING FUND BALANCE$ 666,715 $ 937,428 $ 1,062,023 $ 978,944 $ 632,944 $ 401,944 $ 603,944 $ (179,056)
57
GENERAL VEHICLE MAINTENANCE &
REPLACEMENT FUND
OVERVIEW
The General Vehicle Maintenance & Replacement Fund provides a mechanism for the long-term repair
and replacement of Municipal vehicles. This fund receives planned revenue transfers from each operating
fund that owns and maintains vehicles. Accumulated funds are intended to cover the cost of future vehicle
repair and replacement. This fund is designed to reduce reliance on future bond programs and encourage
a more conservative pattern of spending that minimizes reliance on elastic revenue streams. Vehicles are
designated for replacement based on a long-range depreciation schedule, periodic evaluations of repair
versus replacement costs, and recommended replacement guidelines. Routine scheduled maintenance
is also factored into funding calculations.
This fund receives planned revenue transfers from each operating fund that owns and maintains capital
assets. Accumulated funds are intended to cover the cost of future capital repair and replacement.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Reduction in interest income by $200as per FYE estimates.
Revisions to the adopted FY22 budget include:
-Decrease fire department equipment for commander truckby $32k due to delivery timing (moved to
FY23);
-Increase in Parks and Rec vehicle overage of $3k.
Revisions have affected fund balance inan increase of $28k mainly from the fire equipment move to
FY23.
58
FY23 PROPOSED
Transfers inof $1.5mfrom the General Fund represent 99.9% of the revenues of which $500k was
increased year-over-year. These large transfers are for future planning purposes to perhaps include fire
vehicles and related apparatus.
The overall expenditures of $212k are 58% increased from revised FY22 and include a LifePak for the
Fire/EMS department (moved from FY22 for timing delays) and $180k for two 18-passenger vans to be used
by the Westlake Academy.
The ending fund balance is proposed at $3.3m which is a 63% increase from revised FY22 due to transfers
in.
59
GENERAL VEHICLE MAINTENANCE & REPLACEMENT FUND 605
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Investment Earnings$ 1,586$ 2,000$ 1,800$ 1,000 $ (1,000) -50%$ (800) -44%
Contributions 187,500 - -- - 100%- 100%
Misc Income 45,098 - -- - 0%- 0%
Total Revenues 234,184 2,000 1,800 1,000 (1,000) -50% (800) -44%
Transfer In from Fund 100 General Fund 75,000 1,000,000 1,000,000 1,500,000 500,000 100% 500,000 50%
Other Sources - - -- - 0%- 0%
Total Transfers In and Other Sources 75,000 1,000,000 1,000,000 1,500,000 500,000 100% 500,000 50%
GRAND TOTAL REVENUES & OTHER SOURCES$ 309,184$ 1,002,000$ 1,001,800$ 1,501,000 $ 499,00050%$ 499,200 50%
EXPENDITURES & OTHER USES
Projects - Vehicles$ -$ -$ -$ - $ -0%$ -0%
Projects - Maintenance & Replacement - 163,000 134,324 212,000 49,00030% 77,676100%
Total Capital and Mainteance & Replacement - 163,000 134,324 212,000 49,000 30% 77,676 100%
Transfers Out - - -- -0% -0%
Other Uses - - -- -0% -0%
Total Transfers Out and Other Uses - - -- - 0%- 0%
SUB-TOTAL NON-OPERATING EXPENDITURES$ -$ 163,000$ 134,324$ 212,000 $ 49,000 30%$ 77,676 100%
GRAND TOTAL ALL EXPENDITURES & OTHER USES$ -$ 163,000$ 134,324$ 212,000 $ 49,000 30%$ 77,676 100%
EXCESS REVENUES OVER(UNDER) EXPENDITURES 309,184 839,000 867,476 1,289,000 450,000 54% 421,524 49%
FUND BALANCE, BEGINNING 855,972 1,165,156 1,165,156 2,032,632 867,476 74% 867,476 74%
FUND BALANCE, ENDING$ 1,165,156$ 2,004,156$ 2,032,632$ 3,321,632 $ 1,317,476 66%$ 1,289,000 63%
Restricted/Assigned/Committed Funds 1,165,156 2,004,156 2,032,632 3,321,632 1,317,47666% 1,289,00063%
UNASSIGNED FUND BALANCE, ENDING$ -$ -$ -$ - $ - 0%$ - 0%
60
GENERAL
Vehicle Maintenance & Replacement Fund 605
Five Year Forecast
Audited AdoptedRevisedProposedProjectedProjectedProjectedProjected
ActualsBudgetBudgetBudgetBudgetBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2024FY 2025FY 2026FY 2027
Description
REVENUES & OTHER SOURCES
Transfer In from GF$ 75,000$ 1,000,000$ 1,000,000$ 1,500,000$ 750,000$ 1,250,000 $ 500,000$ 500,000
Contributions 187,500 - - -
Insurance Proceeds 45,098 - - -
Interest Earned 1,586 2,000 1,800 1,000 1,010 1,020 1,030 1,041
TOTAL REVENUES AND OTHER SOURCES
$ 309,184 $ 1,002,000 $ 1,001,800 $ 1,501,000 $ 751,010 $ 1,251,020$ 501,030 $ 501,041
EXPENDITURES & OTHER USES
Fire Dept - Ambulance$- $ 455,515
Fire Dept - Command Suburban- 75,000 43,000 32,000
Fire Dept - Fire Attack - 415,000
Fire Dept - ATV Attack/ Vehicle- 70,000 70,000 -
Motor Vehicle MC- - - 70,000
Motor Vehicle P&R- 18,000 21,324 - 20,000
Motor Vehicle FM- - 180,000 65,000
TOTAL EXPENDITURES
$- $ 163,000 134, 324$ 212,000 $ 20,000 $ - $ 935,515 $ 70,000
Excess Revenues over(under) Expenses
309,184 839,000 867,476 1,289,000 731,010 1,251,020 (434,485) 431,041
BEGINNING FUND BALANCE
855,972 1,165,156 1,165,156 2,032,632 3,321,632 4,052,642 5,303,662 4,869,177
ENDING FUND BALANCE
$ 1,165,156 $ 2,004,156 $ 2,032,632 $ 3,321,632 $ 4,052,642 $ 5,303,662 $ 4,869,177 $ 5,300,218
61
THE MUNICIPAL BUDGET HAS FIVE SPECIAL REVENUE FUNDS WHICH ARE USED TO
ACCOUNT FOR PROCEEDS OF REVENUE SOURCES THAT ARE RESTRICTED OR
COMMITTED FOR SPECIFIED PURPOSES OTHER THAN DEBT SERVICE OR CAPITAL
PROJECTS.
62
4B ECONOMIC DEVELOPMENT FUND
OVERVIEW
This fund collects a half cent sales tax to be allocated to qualified development projects. Since FY 2006,
the 4B Fund has been committed to the repayment of the debt incurred for the Town’s Civic Campus
project (now known as the Westlake Academy campus).
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase of $875k from sales tax as per FYE estimates.
Revisions to the adopted FY22 budget include:
-Increased $213k from surplus of sales tax to Debt Service funds.
Revisions have affected fund balance in an increase in fund balance of $662k.
FY23 PROPOSED
Sales tax of $1.8m represents all revenues in this fund, whichis anticipated to decrease 25% from revised
FY22 due to one-time revenues.
Transfers out to Debt Service of $1.6m represent all expenditures in this fund.
The ending fund balance proposed is $823k which is a $24% increase from revised FY22.
63
4B ECONOMIC DEVELOPMENT FUND 200
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
General Sales Tax$ 1,593,092$ 1,500,000$ 2,375,000$ 1,784,481 $ 284,481 19% (590,519) -25%
Total Revenues 1,593,092 1,500,000 2,375,000 1,784,481 284,481 19% (590,519) -25%
Transfer In - - -- -0% - 0%
Other Sources - - -- -0% - 0%
Total Transfers In and Other Sources - - -- -0% - 0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 1,593,092$ 1,500,000$ 2,375,000$ 1,784,481 $ 284,481 19%$ (590,519) -25%
EXPENDITURES & OTHER USES
Projects - Capital improvement$ -$ -$ -$ -$ -0%$ - 0%
Projects - Maintenance & Replacement - - -- -0% - 0%
Total Capital and Mainteance & Replacement - - -- -0% - 0%
Transfer Out to Fund 300 Debt Service 1,593,092 1,500,000 1,625,237 1,622,790 122,7908% (2,447)0%
-
-
0%
Transfer Out to Fund 301 Debt Service - 88,2350%
-
-
-
Other Uses- - - -0% -0%
Total Transfers Out and Other uses 1,593,092 1,500,000 1,713,472 1,622,790 122,790 8% (90,682) -5%
SUB-TOTAL NON-OPERATING EXPENDITURES 1,593,092 1,500,000 1,713,472 1,622,790 122,790 8% (90,682) -5%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 1,593,092$ 1,500,000$ 1,713,472$ 1,622,790 $ 122,790 8%$ (90,682) -5%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES(0) - 661,528 161,691 161,691 (499,837) %
0%
FUND BALANCE, BEGINNING -$ -(0) 661,528 661,5280% 661,528%
FUND BALANCE, ENDING
0%
$ (0)$ -$ 661,528$ 823,219$ 823,219 $ 161,691 24%
%24%
Restricted/Assigned/Committed Funds(0) (0) 661,528 823,219 823,219 161,691
64
ECONOMIC DEVELOPMENT FUND
OVERVIEW
This fund is used as a pass-through based on economic development agreements to easily identify the
revenues and expenditures pertaining to the agreements. Currently it receives 50% of Deloitte hotel
occupancy taxes and remits the agreed upon rebate back to Deloitte. Additionally, this fund receives lot
payment revenues and transfers to the Academy Expansion Fund to finance its capital projects.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase in developer lot fees of $150k.
Revisions to the adopted FY22 budget include:
-Decrease of $150k due to transfer out to Westlake Academy Expansion Fund; and
-Increase by $70 adjusting budget to net to zero as it’s intended for the fund.
Revisions have affected fund balance by under $100.
FY23 PROPOSED
Overall revenues are proposed at $617k which makes up sales tax revenues, hotel occupancy tax, and
economic development for Westlake Academy (from developer lot fees).
All revenues are expended out as per economic agreements with Deloitte & Schwab, as well as the Westlake
Academy Expansion fund.
There is no proposed change to the ending fund balance. It nets $0 as intended.
65
ECONOMIC DEVELOPMENT FUND 210
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
General Sales Tax$ -$ -$ -$ 131,535 $ 131,535 100%$ 131,535 100%
Hotel Occupancy Tax 70 28,000 28,000 10,000 (18,000) -64% (18,000) -64%
Contributions - - 150,000 475,000 475,000 100% 325,000 217%
Total Revenues 70 28,000 178,000 616,535 588,535 2102% 438,535 246%
Transfer In - - - - - 0% -0%
Other Sources - - - - - 0% -0%
Total Transfers In and Other Sources - - - - - 0% -0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 70$ 28,000$ 178,000 $ 616,535 $ 588,535 2102%$ 438,535 246%
EXPENDITURES & OTHER USES
Economic Development$ -$ 28,000$ 28,070$ 141,535 $ 113,535 405%$ 113,465 404%
Operations and Maintenance - 28,000 28,070 141,535 113,535 405% 113,465 404%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES - 28,000 28,070 141,535 113,535 405% 113,465 404%
Projects - Capital improvement - - - - -0% -0%
Projects - Maintenance & Replacement - - - - -0% -0%
Total Capital and Mainteance & Replacement - - - - - 0% -0%
Transfer out to Fund 412 WA Expansion - - 150,000 475,000 475,000100% 325,000217%
Other Uses - - - - -0% -0%
Total Transfers Out and Other Uses - - 150,000 475,000 475,000 100% 325,000 217%
SUB-TOTAL NON-OPERATING EXPENDITURES - - 150,000 475,000 475,000 100% 325,000 217%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ -$ 28,000$ 178,070 $ 616,535 $ 588,535 2102%$ 438,465 246%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 70 - (70) - -0% 70-100%
FUND BALANCE, BEGINNING0 70 70 0 (70)-100% (70)-100%
FUND BALANCE, ENDING
70 70 00 (70) -100% -0%
Restricted/Assigned/Committed Funds 70 70 0 0 (70)-100% -0%
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ -$ - $ - 0%$ - 0%
66
PID FUND
OVERVIEW
The PID is comprised of revenues used to cover costs attributable to Entrada development and
construction. Consultant, attorney, and administer fees are budgeted and are covered by the remaining
fund balance.
FY22 REVISION
No revisions to the adopted FY22 budget.
No revisions to the adopted FY22 budget.
No change in fund balance.
FY23 PROPOSED
No revenues have been programmed for this fund.
Consultant, attorney and admin fees are included in this fund at $7k, which is 42% decreased from revised
FY22.
The ending fund balance is proposed to decrease by $7k.
67
LOCAL PUBLIC IMPROVEMENT DISTRICT FUND 215
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Misc Income$ 21,277$ - $ - $ - $ - 0%$ - 0%
Total Revenues 21,277 - - - -0% - 0%
Transfer In - - - - -0% - 0%
Other Sources - - - - -0% - 0%
Total Transfers In and Other Sources - - - - -0% -0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 21,277$ - $ - $ - $ - 0%$ -0%
EXPENDITURES & OTHER USES
Services$ 22,545 $ 12,100 $ 12,100$ 7,000 $ (5,100) -42%$ (5,100) -42%
Operations and Maintenance 22,545 12,100 12,100 7,000 (5,100) -42% (5,100) -42%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES 22,545 12,100 12,100 7,000 (5,100) -42% (5,100) -42%
Projects - Capital improvement - - - - -0% -0%
Projects - Maintenance & Replacement - - - - -0% -0%
Total Capital and Mainteance & Replacement - - - - -0% - 0%
Transfer Out to Fund 300 Debt Service - - - - -0% -0%
Other Uses - - - - -0% -0%
Total Transfers Out and Other uses - - - - -0% - 0%
SUB-TOTAL NON-OPERATING EXPENDITURES - - - - -0% - 0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 22,545$ 12,100$ 12,100$ 7,000 $ (5,100) -42%$ (5,100) -42%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES (1,268) (12,100) (12,100) (7,000) 5,100 58%
58% 5,100
FUND BALANCE, BEGINNING 396,565 395,297 395,297 383,197 (12,100) -3% (12,100) -3%
FUND BALANCE, ENDING
$ 395,297 $ 383,197$ 383,197$ 376,197 $ (7,000) -2%$ (7,000) -2%
-2%-2%
Restricted/Assigned/Committed Funds 395,297 383,197 383,197 376,197 (7,000) (7,000)
UNASSIGNED FUND BALANCE, ENDING
$ -$ - $ - $ - $ - 0%$ - 0%
68
VISITORS ASSOCIATION FUND
OVERVIEW
This fund collects a Hotel Occupancy Tax from the Marriott Solana, Deloitte, and any future Westlake
hotels. A 7% municipal tax is levied on the cost of nightly room rentals, the maximum allowable under
State law. Funds generated by the occupancy tax are generally restricted to uses that directly promote
tourism and the convention and hotel industry.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Decrease of interest income offset by unbudgeted Community Tree Lighting revenue netting $1k.
Revisions to the adopted FY22 budget include:
-Services’ expenditures increased by $26k due to payroll transfers to the General Fund.
Revisions have affected fund balance in a decrease of $27k mainly due to payroll-related items.
FY23 PROPOSED
The proposed revenues of $701k are 25% less than revised FY22 mainly due to decreased transfers in from
the General Fund. Hotel Occupancy tax represents 64% of the revenues and is anticipated to conservatively
increase by 4% in FY23 as we continue to recover post-pandemic.
Expenditures of $949k are mostly represented in transfers out for payroll which represent 62% of the overall
total. Communications expenditures are 10% of the total and remained steady with revised FY22.
The ending fund balance is proposed at ($81k). Staff will review this fund in FY23 to determine if enough
actual fund balance at FYE22 (unrealized expenditure relief and/or exceeding revenues) to see if a budget
amendment will be necessary for the fund’s solvency.
69
VISITOR ASSOCIATION FUND 220
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Hotel Occupancy Tax$ 222,868$ 428,000$ 428,000$ 446,000$ 18,000 4%$ 18,000 4%
Investment Earnings 293 3,500 75 75 (3,425) -98% - 0%
Misc Income 1 5,700 7,626 5,200 (500) -9% (2,426) -32%
Total Revenues 223,162 437,200 435,701 451,275 14,075 3% 15,574 4%
Transfer In - 500,000 500,000 250,000 (250,000) 50% (250,000) 50%
Total Transfers In and Other Sources - 500,000 500,000 250,000 (250,000) 50% (250,000) 50%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 223,162$ 937,200$ 935,701$ 701,275 $ (235,925) -25%$ (234,426) -25%
EXPENDITURES & OTHER USES
Payroll Transfers Out$ 190,097$ 497,255$ 523,397$ 588,915$ 91,660 18%$ 65,518 13%
Total Payroll and Related 190,097 497,255 523,397 588,915 91,660 18% 65,518 13%
Public Notices 5,613 20,000 20,000 15,000 (5,000)-25% (5,000)-25%
Rent & Utilities 91,446 93,394 93,394 97,395 4,0014% 4,0014%
Services 153,660 201,300 201,300 215,340 14,0407% 14,0407%
Supplies 1,409 22,000 22,000 32,500 10,500148% 10,500 148%
Travel & Training 6,190 7,250 7,250 - (7,250)-100% (7,250)-100%
Operations and Maintenance 258,319 343,944 343,944 360,235 16,291 5% 16,291 5%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES 448,416 841,199 867,341 949,150 107,951 13% 81,809 9%
Projects - Capital improvement - - - - -0% -0%
Total Capital and Mainteance & Replacement - - - - - 0% - 0%
SUB-TOTAL NON-OPERATING EXPENDITURES - - - - - 0% - 0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 448,416$ 841,199$ 867,341$ 949,150 $ 107,951 13%$ 81,809 9%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES (225,254) 96,001 68,360 (247,875) (343,876)-258% (316,235)-363%
FUND BALANCE, BEGINNING 323,332 98,078 98,078 166,438 68,36070% 68,36070%
FUND BALANCE, ENDING
$ 98,078$ 194,079$ 166,438$ (81,438) $ (275,516) -42%$ (247,875) -49%
-42%-49%
Restricted/Assigned/Committed Funds 98,078 194,079 166,438 (81,438) (275,516) (247,875)
TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS$ 98,078$ 194,079$ 166,438$ (81,438) $ (275,516) -142%$ (247,875) -149%
70
PUBLIC ARTS PROGRAM FUND
OVERVIEW
This fund accounts for contributions received for Westlake Public Arts Projects. Westlake is pending a
Public Art installation in the 1600 Block of Solana Boulevard median. This is the first in a series of such
pieces planned for the Town and will, therefore, set an artistic standard for future works.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase of $500k as per actual contributions.
Revisions to the adopted FY22 budget include:
-Increase in artwork expense and contract services as per actuals of $138k.
Revisions have affected fund balance in an increase in fund balance by $362k.
FY23 PROPOSED
There are no programmed revenues for this fund in FY23.
There are no programmed expenditures for this fund in FY23.
Ending fund balance of $612k is expected to remain the same in FY23.
71
PUBLIC ARTS FUND 225
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Contributions$ 150,000$ -$ 500,000$ -$ -0%$ (500,000)-100%
Total Revenues 150,000 - 500,000 - - 0% (500,000) -100%
Transfer In - - - - - 0% - 0%
Other Sources - - - - - 0% - 0%
Total Transfers In and Other Sources - - - - - 0% - 0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 150,000$ -$ 500,000 $ -$ -0%$ (500,000) -100%
EXPENDITURES & OTHER USES
Services$ -$ -$ 138,009$ -$ -0%$ (138,009)-100%
Operations and Maintenance - - 138,009 - - 0% (138,009) -100%
0% (138, 009)-100%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES - - 138,009 - -
Transfer Out to Fund 300 Debt Service - - - - - 0% -0%
Other Uses - - - - - 0% -0%
Total Transfers Out and Other uses - - - - - 0% - 0%
SUB-TOTAL NON-OPERATING EXPENDITURES - - - - - 0% - 0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ -$ -$ 138,009 $ -$ -0%$ (138,009) -100%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 150,000 - 361,991 - - 100% (361,991)0%
FUND BALANCE, BEGINNING 100,000 250,000 250,000 611,991 361,991145% 361,991145%
FUND BALANCE, ENDING
$ 250,000$ 250,000$ 611,991 $ 611,991 $ 361,991 245%$ - 100%
245%100%
Restricted/Assigned/Committed Funds 250,000 250,000 611,991 611,991 361,991 -
UNASSIGNED FUND BALANCE, ENDING
$ - 0%
$ -$ -$ -$ -$ -0%
72
LONE STAR PUBLIC FACILITIES FUND
OVERVIEW
This fund was created to account for the financial activities of the Lone Star Public Facilities Corporation.
It was anticipated that the Corporation would issue bonds to finance the purchase or construction of public
facilities, and then lease those facilities to qualifying tenants, however no bonds were ever issued. Monies
in this fund were from corporate donations that were received shortly after the fund was created.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Decrease in interest income by $30 as per FYE estimates.
No revisions to the adopted FY22 budget include:
Decrease in fund balance by $30.
FY23 PROPOSED
Only interest income of $25 is programmed for FY23.
There are no expenditures programmed for this fund.
The ending fund balance is proposed to increase by $25.
73
LONE STAR PUBLIC FACILITIES FUND 418
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
3Investment Earnings$ 25 $ 50$ 20$ 25$ (25) -50%$ 525%
7 Total Revenues 25 50 20 25 (25) -50% 5 25%
Transfer In- - - - - 0% - 0%
Other Sources- - - - - 0% - 0%
Total Transfers In and Other Sources - - - - - 0% - 0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 25 $ 50$ 20$ 25 $ (25) -50%$ 525%
EXPENDITURES & OTHER USES
Transfer Out to Fund 300 Debt Service$ -$ -$ -$ -$ - 0%$ - 0%
Other Uses- - - - -0% -0%
Total Transfers Out and Other uses - - - - - 0% - 0%
SUB-TOTAL NON-OPERATING EXPENDITURES - - - - - 0% - 0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ -$ -$ -$ - $ - 0%$ - 0%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 25 50 20 25 (25)50% 5 125%
FUND BALANCE, BEGINNING 14,719 14,744 14,744 14,764 200% 200%
FUND BALANCE, ENDING
$ 14,744$ 14,794$ 14,764$ 14,789$ (5) 100%$ 25 100%
100%100%
Restricted/Assigned/Committed Funds 14,744 14,794 14,764 14,789 (5) 25
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ -$ - $ - 0%$ - 0%
74
75
THE TOWN IS DEDICATED TO A CONSERVATIVE PATTERN OF DEBT ISSUANCE THAT
ENSURES PROPERTY TAX RATES REMAIN ATTRACTIVE TO PROSPECTIVE BUSINESSES
AND RESIDENTS. PRIOR TO ACQUIRING ANY DEBT, ALTERNATIVE FINANCING
SOURCES ARE EVALUATED. WHEN DEBT IS ISSUED, IT IS USED TO ACQUIRE MAJOR
ASSETS WITH EXPECTED LIVES WHICH EQUAL OR EXCEED THE AVERAGE LIFE OF THE
DEBT ISSUE. THE TOWN'S RATING OF AAA/STABLEWAS RECONFIRMED BY
STANDARD & POOR'S RATINGS SERVICES FOR THE TOWN'S MOST RECENT DEBT
76
ISSUANCE.
DEBT SERVICE FUND (sales tax supported)
OVERVIEW
The Debt Service Fund 300 is used to manage payments on all general government related debt. Prior to
acquiring long-term debt, alternative financing sources are explored before debt is issued. Debt service is
used to acquire major assets with a useful life that equals or exceeds the debt issuance. Transfers from
4B Economic Development Fund and the General Fund comprise the bulk of this debt service fund
revenues. Current debt issuances relate to the Fire Station Complex, as well as Westlake Academy and its
expansion.
FY22 REVISION
No revisions to the adopted FY22 budget.
Revisions to the adopted FY22 budget include:
-Small adjusting decrease of $400 for bank charges related to 2013 GORB.
Revisions have affected fund balance in a decrease of $400.
FY23 PROPOSED
Transfers in from the 4B Economic Development fund represent all revenues of $1.6m, which remains
steady with revised FY22.
Debt service of $1.6m is planned in FY23 as per amortization schedules.
There is no planned change to the ending fund balance which remains at $0.
77
DEBT SERVICE FUND 300
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Transfer In from Fund 100 General Fund$ 357,169$ 125,237$ -$ -$ (125,237)-100%$ -0%
Transfer In from Fund 200 4B Economic Development 1,593,092 1,500,000 1,625,237 1,622,790 122,7908% (2,447)0%
Total Transfers in and Other Sources 1,950,261 1,625,237 1,625,237 1,622,790 (2,447)0% (2,447)0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 1,950,261$ 1,625,237 $ 1,625,237$ 1,622,790 $ (2,447) 0%$ (2,447) 0%
EXPENDITURES & OTHER USES
Debt Service$ 1,948,121$ 1,623,457$ 1,623,457$ 1,621,010$ (2,447)0%$ (2,447)0%
Services2,140 1,3931,7801,780 38728%-0%
Operations and Maintenance 1,950,261 1,624,850 1,625,237 1,622,790 (2,060)0% (2,447)0%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES 1,950,261 1,624,850 1,625,237 1,622,790 (2,060)0% (2,447)0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 1,950,261$ 1,624,850 $ 1,625,237$ 1,622,790 $ (2,060) 0%$ (2,447) 0%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES- 387 -- (387)100%-0%
FUND BALANCE, BEGINNING- ----100%-100%
FUND BALANCE, ENDING
$ -$ 387$ -$- $ (387) -100%$- 0%
Restricted/Assigned/Committed Funds- 387 -- (387)-100%-0%
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ -$- $ - 0%$- 0%
78
DEBT SERVICE FUND 300
REVENUE SUPPORTED DEBT
Fire Station Complex
Fire Station ComplexFire Station Complex
SERIES 2017 Texas Tax NoteSERIES 2016 CO
Program 16Program 17
PymtFiscal
TOTAL TOTAL
No.Year
PrincipalInterestPrincipalInterest
12023$ 227,000 $ 6,254 $ 233,254 $ 230,000 $ 278,700 $ 508,700
22024 232,000 2,100 234,100 235,000 271,725 506,725
32025- - - 245,000 264,525 509,525
42026- - - 250,000 257,100 507,100
52027- - - 260,000 249,450 509,450
62028- - - 265,000 241,575 506,575
72029- - - 275,000 233,475 508,475
82030- - - 285,000 225,075 510,075
92031- - - 290,000 216,450 506,450
102032- - - 300,000 207,600 507,600
112033- - - 310,000 198,450 508,450
122034- - - 320,000 189,000 509,000
132035- - - 330,000 179,250 509,250
142036- - - 340,000 169,200 509,200
152037- - - 350,000 158,850 508,850
162038- - - 360,000 146,400 506,400
172039- - - 375,000 131 ,700506,700
182040- - - 390,000 116,400 506,400
192041- - - 410,000 100,400 510,400
202042- - - 425,000 83,700 508,700
212043- - - 440,000 66,400 506,400
222044- - - 460,000 48,400 508,400
232045- 80,00029,600 509,600
- - 4
242046- - - 500,000 10,000 510,000
TOTAL
$ 459,000 $ 8,353 $ 467,353 $ 8,125,000 $ 4,073,425 $ 12,198,425
Issued By:The Independent BankUS Bank
Original Issue:$1,530,000$9,180,000
Issue Date:May 2017December 2016
End Date:7 years = 202430 years = 2046
79
DEBT SERVICE FUND 300
REVENUE SUPPORTED DEBT
Westlake Academy
Refunding of 2007 (orig 2002)Refunding of Series 2008
SERIES 2017 GO-RefundingSERIES 2013 GO-Refunding
Program 15Program 10
PymtFiscal
TOTAL TOTAL
No.Year
PrincipalInterestPrincipalInterest
12023$35,000 $ 223,925 $ 258,925 $ 150,000 $ 20,375 $ 170,375
2202440,000 222,800 262,800 145,000 17,130 162,130
32025605,000 210,100 815,100 155,000 13,830 168,830
42026625,000 185,500 810,500 165,000 10,063 175,063
52027645,000 160,100 805,100 160,000 6,000 166,000
62028675,000 133,700 808,700 160,000 2,000 162,000
72029715,000 105,900 820,900 - - -
82030735,000 76,900 811,900 - - -
92031775,000 46,700 821,700 - - -
102032780,000 15,600 795,600 - - -
112033- - - - - -
122034- - - - - -
132035- - - - - -
142036- - - - - -
152037- - - - - -
162038- - - - - -
172039- - - - - -
182040- - - - - -
192041- - - - - -
202042- - - - - -
212043- - - - - -
222044- - - - - -
232045- - - - - -
242046- - - - - -
TOTAL
$ 5,630,000 $ 1,381,225 $ 7,011,225 $ 935,000 $ 69,398 $ 1,004,398
Issued By:US BankUS Bank
Original Issue:$5,795,000$2,200,000
Issue Date:February 2007April 2013
End Date:30 years = 203215 years - 2028
80
DEBT SERVICE FUND 300
REVENUE SUPPORTED DEBT
Westlake AcademyGRAND TOTAL
WA EXPANSION (Governmental Portion)
SERIES 2013 CO
Program 12
PymtFiscal
TOTALPrincipalInterestTOTAL
No.Year
PrincipalInterest
12023$ 204,700 $245,056 $ 449,756 $846,700 $ 774,310 $ 1,621,010
22024213,600 238,781 452,381 865,600 752,536 1,618,136
32025213,600 232,373 445,973 1,218,600 720,828 1,939,428
42026226,950 225,765 452,715 1,266,950 678,428 1,945,378
52027231,400 218,601 450,001 1,296,400 634,151 1,930,551
62028240,300 210,936 451,236 1,340,300 588,211 1,928,511
72029347,100 200,956 548,056 1,337,100 540,331 1,877,431
82030360,450 188,574 549,024 1,380,450 490,549 1,870,999
92031369,350 175,803 545,153 1,434,350 438,953 1,873,303
102032529,550 158,748 688,298 1,609,550 381,948 1,991,498
112033280,350 142,550 422,900 590,350 341,000 931,350
122034293,700 131,069 424,769 613,700 320,069 933,769
132035307,050 119,054 426,104 637,050 298,304 935,354
142036320,400 106,505 426,905 6 60,400 275,705 936,105
152037329,300 94,129 423,429 679,300 252,979 932,279
162038342,650 81,950 424,600 702,650 228,350 931,000
172039356,000 69,287 425,287 731,000 200,987 931,987
182040369,350 55,447 424,797 759,350 171,847 931,197
192041382,700 40,406 423,106 792,700 140,806 933,506
202042400,500 24,742 425,242 825,500 108,442 933,942
212043418,300 8,366 426,666 858,300 74,766 933,066
222044- - - 460,000 48,400 508,400
232045- - - 48 0,00029,600 509,600
242046500,000 10,000 510,000
TOTAL
$ 6,737,300 $2,969,098 $ 9,706,398 $ 21,886,300 $ 8,501,499 $ 30,387,799
Issued By:US Bank
Original Issue:$8,294,800
Issue Date:April 2013
End Date:30 years = ends 2043
81
DEBT SERVICE FUND (property tax supported)
OVERVIEW
Property tax is allocated between Maintenance and Operations in the General Fund and Interest and
Sinking in the Debt Service Fund 301. The debt service rate includes the debt service necessary to pay
the Town’s debt payments in the coming year. This rate accounts for principal and interest on bonds and
other debt secured by property tax revenue. This fund is used for street infrastructure improvements,
Westlake Academy Expansion, and funding the Westlake Academy’s Sam & Margaret Lee Arts & Sciences
Center. Prior to acquiring long-term debt, alternative financing sources are explored before debt is issued.
In 2021, the Government Obligations Refunding Bonds (GORB) series 2021 were issued to support capital
projects.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase of $88k from transfer in from Economic Development 4B.
Revisions to the adopted FY22 budget include:
-Increase of $1.02m from the 2021 GORB (which was closed at the end of FY21);
-Decrease of $966k from satisfying the 2011 GORB and 2011 CO with the 2021 GORB;
-Decrease of $3k on 2021 CO from amortization schedule update;
Revisions have affected fund balance in an increase of $37k due primarily to the transfer in.
FY23 PROPOSED
Ad valorem (property tax) represent all revenues of $1.2m, which is a slight increase of 6% from revised
FY22.
Debt service of $1.2m is planned in FY23 as per amortization schedules.
Ending fund balance is proposed to net to 0 as it is intended.
82
DEBT SERVICE FUND 301
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Property Tax$694,403$1,134,763$1,134,763$1,202,967$68,2046%$68,2046%
Total Revenues 694,403 1,134,763 1,134,763 1,202, 967 68,204 6% 68,204 6%
Transfer in from 4B - 88,235
Other Sources 4,767,298 - -- - 0%- 0%
Total Transfers In and Other Sources 4,767,298 - 88,235- - 0% (88, 235)-100%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 5,461,701$ 1,134,763$ 1,222,998$ 1,202, 967$ 68,204 6%$ (20, 031)-2%
EXPENDITURES & OTHER USES
Debt Service$5,434,853$1,242,857$1,294,304$1,234,365$ (8,492)-1%$ (59,939)-5%
Services 73,372 880 -1,290 41047% 1,290100%
Operations and Maintenance 5,508,225 1,243,737 1,294,304 1,235, 655 (8, 082)-1% ( 58,649)-5%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES 5,508,225 1,243,737 1,294,304 1,235, 655 (8, 082)-1% ( 58,649)-5%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 5,508,225$ 1,243,737$ 1,294,304$ 1,235, 655$ (8, 082)-1%$ ( 58,649)-5%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES (46, 524) (108,974) (71,306) (32,688) 76,286-70% 38,618 -54%
FUND BALANCE, BEGINNING 150,518 103,994 103,994 32,688 (71,306)-69% (71,306)-69%
FUND BALANCE, ENDING
$ 103,994$ (4,980)$ 32,688$0 $ 4,980 -100%$ (32,688) -100%
Restricted/Assigned/Committed Funds 103,994 (4,980) 32,6880 4,980 -100% (32,688)-100%
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ - $- $ - 0%$ - 0%
83
DEBT SERVICE 301
PROPERTY TAX REVENUE SUPPORTED
WESTLAKE ACADEMYMUNICIPAL
Refunding of 2003 (2nd Phase of WA)Capital Improvements for Municipality
SERIES 2014 GO-REFUNDINGSERIES 2021
PymtFiscal
No.YearPrincipalInterestTotalPrincipalInterestTotal
12023$ 5,000 $ 64,140 $ 69,140 $ 120,000 $ 84,600 $ 204,600
22024 5,000 63,960 68,960 125,000 79,700 204,700
32025 5,000 63,780 68,780 130,000 74,600 204,600
42026 5,000 63,600 68,600 135,000 69,300 204,300
52027 5,000 63,420 68,420 140,000 63,800 203,800
62028 5,000 63,240 68,240 145,000 58,100 203,100
72029 350,000 56,150 406,150 150,000 52,200 202,200
82030 360,000 41,950 401,950 155,000 46,100 201,100
92031 375,000 27,250 402,250 160,000 39,800 199,800
102032 395,000 9,874 404,874 165,000 34,950 199,950
112033 - - - 170,000 31,600 201,600
122034 - - - 175,000 28,150 203,150
132035 - - - 180,000 24,600 204,600
142036 - - - 180,000 21,000 201,000
152037 - - - 185,000 17,350 202,350
162038 - - - 190,000 13,600 203,600
172039 - - - 190,000 9,800 199,800
182040 - - - 195,000 5,950 200,950
192041 - - - 200,000 2,000 202,000
202042 - - - - - -
212043 - - -
TOTAL
$ 1,510,000 $ 517,364 $ 2,027,364 $ 3,090,000 $ 757,200 $ 3,847,200
Issued By:US BankUS BANK
Original Issue:$8,500,000$3,215,000
Issue Date:January 2014September 2021
End Date:18 years = 203220 years = 2041
84
DEBT SERVICE 301
PROPERTY TAX REVENUE SUPPORTED
WA 25%/MUNICIPAL 75%GRAND TOTAL
Refunding of 2011 CO and 2011 GO
2021 GO - REFUNDING
PymtFiscal
PrincipalInterestTOTAL
No.YearPrincipalInterestTotal
12023$ 865,000 $ 95,625 $ 960,625 $ 990,000 $ 244,365 $ 1,234,365
22024 900,000 69,150 969,150 1,030,000 212,810 1,242,810
32025 340,000 50,550 390,550 475,000 188,930 663,930
42026 340,000 40,350 380,350 480,000 173,250 653,250
52027 360,000 29,850 389,850 505,000 157,070 662,070
62028 375,000 18,825 393,825 525,000 140,165 665,165
72029 125,000 10,700 135,700 625,000 119,050 744,050
82030 135,000 5,500 140,500 650,000 93,550 743,550
92031 140,000 1,400 141,400 675,000 68,450 743,450
102032- - - 560,000 44,824 604,824
112033- - - 170,000 31,600 201,600
122034- - - 175,000 28,150 203,150
132035- - - 180,000 24,600 204,600
142036- - - 180, 000 21,000 201,000
152037- - - 185,000 17,350 202,350
162038- - - 190,000 13,600 203,600
172039- - - 190,000 9,800 199,800
182040- - - 195,000 5,950 200,950
192041- - - 200,000 2,000 202,000
202042- - - - - -
212043- - -
TOTAL
$ 3,580,000 $ 321,950 $ 3,901,950 $ 8,180,000 $ 1,596,514 $ 9,776,514
Issued By:US Bank
Original Issue:$4,430,000
Issue Date:September 2021
End Date:10 years - 2031
85
THESE FUNDS ARE USED TO ACCOUNT FOR FINANCIAL RESOURCES THAT ARE
RESTRICTED, COMMITTED, OR ASSIGNED TO EXPENDITURE FOR CAPITAL OUTLAYS.
86
MUNICIPAL EXPANSION FUND
OVERVIEW
This fund was created to track and accumulate resources intended to finance future Municipal expansions.
This fund was being used to provide a Fire/EMS station (but did not include apparatus or training facility and
included the acquisition of land by private donation.) The fund was adjusted for final accounting treatment
and has no future project plans at this time.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Transfer in increase of $41k to close-out fund.
No revisions to the adopted FY22 budget include:
Revisions have affected fund balance in an increase of $41k.
FY23 PROPOSED
There are no programmed revenues for this fund.
There are no programmed revenues for this fund.
The ending fund balance is $0.
87
MUNICIPALEXPANSIONFUND
Program Summary
Fiscal Year 2023
AuditedAdoptedEstimatedAdoptedFY 2023AdoptedFY 2023Adopted
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Transfers In- - 40,890- - 0% (40,890) -100%
Other Sources- - - - - 0%- 0%
Total Other Sources- - 40,890- - 0% (40,890) -100%
GRAND TOTAL REVENUES & OTHER SOURCES
$ -$ -$ 40,890 $ - $ - 0%$ (40,890)-100%
EXPENDITURES & OTHER USES
Capital Project Funds$ 89,483$ -$ -$ -$ -0%$ -0%
Capital Outlay- - - - - 0%- 0%
Maintenance & Replacment Funds- - - - - 0%- 0%
Total Capital and M&R Projects 89,483- - - - 0%- 0%
Transfers Out - - -- -0%- 0%
Other Sources- - - - - 0%- 0%
Total Other Uses- - - - - 0%- 0%
TOTAL NON-OPERATING EXPENDITURES 89,483- - - - 0%- 0%
$ -$ - $ - 0%$ - 0%
GRAND TOTAL ALL EXPENDITURES & OTHER USES$ 89,483$ -
SUMMARY
Excess Revenues over(under) Expenditures (89,483)- 40,890- - 0% (40,890)-100%
FUND BALANCE, BEGINNING 48,593 (40,890) (40,890)- 40,890-100% 40,890-100%
FUND BALANCE, ENDING$ (40,890)$ (40,890)$ -$ - $ 40,890 -100%$ - 0%
Restricted/Assigned/Committed Funds (40,890) (40,890)- - 40,890- - 0%
UNASSIGNED FUND BALANCE, ENDING$ -$ -$ -$ -$ - 0%$ - 0%
88
CAPITAL PROJECTS FUND
OVERVIEW
This fund tracks major equipment, land, and infrastructure projects of $25,000 or more financed with
General Fund operating transfers, intergovernmental revenue, bond proceeds and Special Revenue Fund
transfers. Project completion or procurement may extendacross two or more fiscal years and reflect
multiple expenditure categories such as engineering, design and construction. Completed capital projects
often have a continuing fiscal impact on the Town’s operating funds due to routine maintenance, repair,
and daily operating costs. When an ongoing operating impact has been identified, it is included in the
project description sheet, and costs are projected for the next three years. Upon approval of the project,
the ongoing fiscal impact is integrated into theoperating budget.
An Unfunded/Under Discussion Capital Improvement Project Forecast is also included which outlines
projects Staff and Council have identified but require Council direction on implementation and
prioritization. None of the Unfunded/Under Discussion projects will be planned or built prior to Council
discussion and approval. The projects shown are for future consideration and planning purposes only.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-SH114/Hwy170 enhancement project of $3.4m removed from budget;
Revisions to the adopted FY22 budget include:
-Decrease of $216k in road/street improvements as per FYE estimates;
-Decrease of $57k in finance software upgrades as per FYE estimates, portion incomplete to be rolled
over into FY23;
-Decrease of $596k in parks/trail/cemetery improvements as per FYE estimates;
-Increase of bond issuance costs by $3k from update of debt schedule;
-Increase in transfer-out of $41kto Municipal Expansion fund to offset final FY21 expenditures and
close that fund.
Revisions have affected fund balance in a decrease of $2.5m.
89
FY23 PROPOSED
Transfers in from the General Fund represent 99.5% of the total revenues of $1m.
The total expenditures of $1.4m is mostly comprised of parks/trails/cemetery improvements which
represents 82% of all project costs.
In addition to the fund program detail, a Funded Capital Improvement Project Forecast is provided for current
and out-year planning.
The ending fund balance is proposed at $2.8m which is an overall decrease of 12%.
90
CAPITAL PROJECTS FUND 410
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2022ProposedFY 2022Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2023AdoptedFY 2023Revised
REVENUES & OTHER SOURCES
Investment Earnings$ 3,015$ 5,000$ 5,000$ 5,000$- 0%$- 0%
Contributions 50,000 -- - - 0%- 0%
Total Revenues 53,015 5,000 5,000 5,000- 0%- 0%
Transfers In - 1,000,000 1,000,000 1,010,100 10,1001% 10,1001%
Other Sources 3,464,742 3,353,602- - (3,353,602)100%- 100%
Total Other Sources 3,464,742 4,353,602 1,000,000 1,010,100 (3,343,502)100% 10,100100%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 3,517,757$ 4,358,602$ 1,005,000$ 1,015,100 $ (3,343,502) -77%$ 10,100 1%
EXPENDITURES & OTHER USES
Debt Service$ 57,097$- $ 3,220$- $- 0%$ (3,220)-100%
Operations and Maintenance 57,097- 3,220- - 0% (3,220)-100%
SUB-TOTAL OPERATIONS and MAINTENANCE EXPENDITURES 57,097- 3,220$- $- 0%$ (3,220) -100%
Projects - Capital improvement 1,026,158 2,491,720 1,624,004 1,410,033 (1,081,687)-43% (213,971)-13%
Total Capital and Mainteance & Replacement 1,026,158 2,491,720 1,624,004 1,410,033 (1,081,687)-43% (213,971)-13%
Transfers Out - - 40,890- - 0% (40,890)-100%
Total Transfers Out & Other Uses- - 40,890- - 0% (40,890)-100%
SUB-TOTAL NON-OPERATING EXPENDITURES 1,026,158 2,491,720 1,664,894 1,410,033 (1,081,687)-43% (254,861)-15%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 1,083,255$ 2,491,720$ 1,668,114$ 1,410,033 $ (1,081,687) -43%$ (258,081) -15%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 2,434,501 1,866,882 (663,114) (394,933) (2,261,815)-121% 268,181-40%
FUND BALANCE, BEGINNING 1,440,851 3,875,352 3,875,352 3,212,238 (663,114)- (663,114)-
FUND BALANCE, ENDING
$ 3,875,352$ 5,742,234$ 3,212,238$ 2,817,305 $ (2,924,929) -51%$ (3 94,933)-12%
3,875,352
Restricted/Assigned/Committed Funds 5,742,234 3,212,238 2,817,305 (2,924,929)-51% (394,933)-12%
91
WESTLAKE ACADEMY
SAM & MARGARET LEE
ARTS & SCIENCES CENTERFUND
OVERVIEW
This fund tracks and accumulates resources to finance the Sam & Margaret Lee Arts and Sciences Center
expansion. Westlake Academy Staff identified immediate needs for three additional science labs and two
art rooms on campus. Subsequent discussions involved the replacement of the portable buildings and
Staff were directed to propose expanding the building footprint in an attempt to eliminate classrooms from
the portables. The estimated cost of this project is $15M. The funding source for the project includes
funds provided per economic development agreements by residential developments, anonymous
matching funds, and Westlake Academy affiliates.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase by $754k due to contributions as of FYE estimates.
Revisions to the adopted FY22 budget include:
-Decrease by $215k in design fees.
Revisions have affected fund balance in an increase of $969k.
FY23 PROPOSED
Overall revenues of $260k decreased significantly by 74% from the revised FY22 as contributions were not
anticipated in FY23.
Planned expenditures of $55k are increased by 57% from revised FY22 in design fees.
The ending fund balance of $3.4m is a slight 6% increase as overall revenues still exceeded expenditures.
92
WESTLAKE ACADEMY SAM & MARGARGET LEE ARTS & SCIENCES CENTER FUND 411
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2023ProposedFY 2023Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2022AdoptedFY 2022Revised
REVENUES & OTHER SOURCES
Investment Earnings$1,377 $ 1,000$ 5,000$ 10,000 $ 9,00000%$ 5,000100%
Contributions 1,250,000 - 750,000 - - % (750,000)100%
Total Revenues 1,251,377 1,000 755,000 10,000 9,00000% (745,000)%
Transfer In from Fund 412 WA Expansion 1,000,000 250,000 250,000 250,000 - % - 0%
Total Transfers In and Other Sources 1,000,000 250,000 250,000 250,000 - % - 0%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 2,251,377 $ 251,000$ 1,005,000$ 260,000 $ 9,000 %$ ( 745,000)-74%
EXPENDITURES & OTHER USES
Projects - Capital improvement -$ 250,000$ 35,000 $ 55,000 $ (195,000)%$ 2 0,000%
Total Capital and Mainteance & Replacement - 250,000 35,000 55,000 (195,000)% 20,000%
SUB-TOTAL NON-OPERATING EXPENDITURES$- $ 250,000$ 35,000 $ 55,000 $ (195, 000)%$ 2 0,000%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$- $ 250,000$ 35,000 $ 55,000 $ (195, 000)%$ 2 0,000%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES 2,251,377 1,000 970,000 205,000 204,00020400% (765,000)-79%
FUND BALANCE, BEGINNING49,682 2,301,059 2,301,059 3,271,059 970,00042% 970,00042%
FUND BALANCE, ENDING
$ 2,301,059 $ 2,302,059$ 3,271,059$ 3,476, 059$ 1,174, 00051%$ 205,0006%
Restricted/Assigned/Committed Funds 2,301,059 2,302,059 3,271,059 3,476,059 1,174,00051% 205,0006%
UNASSIGNED FUND BALANCE, ENDING
$- $ -$ -$ - $ - 0%$ - 0%
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ACADEMY EXPANSION FUND
OVERVIEW
This fund tracks and accumulates resources intended to finance future Academy expansions. In FY 12/13,
approximately $8.5 million dollars of bond proceeds were used to fund construction of three new buildings
at Westlake Academy. In February of 2013, an Economic Development Agreement was executed that
requires the developer to pay $10K for lots in the Granada subdivision, $5K for lots in the Quail Hollow
subdivision and $5K for lot the Knolls. These payments are recorded in the Economic Development Fund
210 and are transferred to the Westlake Academy Fund 412.
FY22 REVISION
Revisions to the adopted FY22 budget include:
-Increase of $154k primary from transfer-in from the Economic Development fund from increased lot
fees revenue.
No revisions to the adopted FY22 budget include:
Revisions have affected fund balance in an increase of $154k.
FY23 PROPOSED
Revenues of $480k are made up mostly from transfers in from the Economic Development fund from lot
fees.
An athletic capital improvement package has been proposed for the Westlake Academy campus which would
be funded through private donations only estimate $800k. Staff is working with the donor funding.
The ending fund balance proposed of $1.4m is 29% less than revised FY22.
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WESTLAKE ACADEMY EXPANSION FUND 412
Program Summary
Fiscal Year 2023
AuditedAdoptedRevisedProposedFY 2022ProposedFY 2022Proposed
vsvs
ActualsBudgetBudgetBudget
FY 2021FY 2022FY 2022FY 2023FY 2023AdoptedFY 2023Revised
REVENUES & OTHER SOURCES
Investment Earnings$ 4,584$ 5,000$ 9,000$ 5,000$ -0%$ (4,000)-44%
Contributions 50,000- - - - 0%- 0%
Total Revenues 54,584 5,000 9,000 5,000- 0% (4,000)-44%
Transfer In from Fund 210 Economic Development- - 150,000 475,000 475,000100% 325,000217%
Total Transfers In and Other Sources - - 150,000 475,000 475,000100% 325,000217%
GRAND TOTAL REVENUES & OTHER SOURCES
$ 54,584$ 5,000$ 159,000$ 480,000 $ 475,000 9500%$ 321,000 202%
EXPENDITURES & OTHER USES
Projects - Capital improvement$ 14,000$ -$ -$ 800,000$ 800,000100%$ 800,000100%
Total Capital and Mainteance & Replacement 14,000 - - 800,000 800,000100% 800,000100%
Transfers Out to Fund 411 A&S Building 1,000,000 250,000 250,000 250,000 -0%- 0%
Total Transfers Out & Other Uses 1,000,000 250,000 250,000 250,000- 0%- 0%
SUB-TOTAL NON-OPERATING EXPENDITURES$ 1,014,000$ 250,000$ 250,000$ 1,050,000$ 800,000 100%$ 800,000 320%
GRAND TOTAL ALL EXPENDITURES & OTHER USES
$ 1,014,000$ 250,000$ 250,000$ 1,050,000$ 800,000 100%$ 800,000 320%
SUMMARY
EXCESS REVENUES OVER(UNDER) EXPENDITURES (959,416) (245,000) (91,000) (570,000) (325,000)133% (479,000)526%
FUND BALANCE, BEGINNING 3,011,918 2,052,502 2,052,502 1,961,502 (91,000)-4% (91,000)-4%
FUND BALANCE, ENDING
$ 2,052,502$ 1,807,502$ 1,961,502$ 1,391,502$ (416, 000)-23%$ (570,000)-29%
Restricted/Assigned/Committed Funds 2,052,502 1,807,502 1,961,502 1,391,502 (416,000)-23% (570,000)-29%
UNASSIGNED FUND BALANCE, ENDING
$ -$ -$ -$ -$ - 0%$ -0%
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CAPITAL IMPROVEMENT PLANOVERVIEW
The Capital Improvement Plan (CIP) is the Town’s strategy for infrastructure development and
improvement.This includes, road expansion, repairs on publicly owned buildings, and theacquisition
of new water sources.The CIP is a multi-year document that summarizes capital projects for the next
five (5) years. Each project has individual cost estimates and financing methods for improvements.
The CIP establishes the Town’s priorities and serves as a blueprint for investment in capital
infrastructure in the short and long-term.
CAPITAL IMPROVEMENT PLANPROCESS
IDENTIFYING A NEED
The CIP process begins with identifying capital projectneeds based on the Town’s balanced
scorecard and comprehensive plan.
FUNDING SOURCES
Once a capital project need isidentified, staffanalyze potential funding sources.
There are four primary funding sources
WHAT IS A CAPITAL EXPENDITURE?
for capital projects:
Cash Funding (revenue sources
Any major non-recurring expenditure or expenditure for
such as sales, hotel/motel and
facilities, including additions or major alterations,
property taxes);
construction of highways or utility lines, fixed equipment,
State/Federal funding (public
landscaping, or similar expenditures.
grants);
Private Funding
(developmental impact fees or charitable donations); and
Bond Issuance.
All funding considerations are based on collaborative discussions with stakeholders and the source of
the revenue.
STAFF ANALYSIS
Projects proposed for the CIP are reviewed, evaluated, and recommended based on the following
criteria:
Theprojectiswithin the debt limitations established by state law and within a maximum
local levy debt service established by Town Council.
The projectmeets the established useful life criteria to be financed.
PROJECT TYPEGENERAL LIFEFINANCING
Public buildings40 years10 year
New road construction40 years10 year
Major road rehabilitation15 years10 year
Water, sewer & drainage40 years20 year
Miscellaneous items Based on asset10 year
Local sales tax projects10 year15 year
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Highways and streets provide
WHAT IS A CAPITAL PROJECT?
safe and effective vehicular
access and efficient urban
Capital projects are the individual action plans that make
traffic flow. Thisincludes:
up a CIP. Capital projectsarecategorized into the
New projects thatwill
following groups: Parks & Recreation, Facilities,
reduce future
Transportation, Vehicles and Utilities.
maintenance
requirements; and
Good streets and roadways to serve Town facilities.
Adequatewater supply is available for existing neighborhoods, planned growth and
development of the Town.
Improvements for beautification and landscaping are conducted on arterials and highways,
facilities, etc.
The CIP is balancedfor all types ofTown assets.
CIP PRIORITIZATION STRATEGY
The Town’s CIP prioritization strategy is to preserve, protect and plan.
Preserve the past by investing in the continued upgrade of town assets and infrastructure.
Protect the present with improvements and/or additions to facilities, roads, and capital
investments.
Plan for the future of the organization.
PRESERVEPROTECTPLAN
IMPACT TO OPERATING BUDGET
The Town’s operating budget is directly affected by the CIPbudget. CIP projects can often increase or
decrease costs. CIP investments in technology or significant improvements to existing maintenance
intensive assets can reduce operating budget costs. However, new facilities and land acquisitions
typically increase operating expenditures.
Operating costs are carefully considered in deciding which projects move forward in the CIP budget.
It is typically impossible to absorb many large increases in operating costs at once; therefore,
projects are plannedto prevent shocks to operating budgets. Several projects are currently included
in the adoptedCIP and mayhave future impacts on the operating budget.
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ADOPTION OF THE CIP
CIP recommendations are forwarded to the Town Manager and then to Town Council. Town Council
may shift, add, or delete projects in the proposed CIP. Like the operating budget, Town Council will
adopt the CIP.
FUNDED vs. UNFUNDED PROJECTS
The CIP includes funded and unfunded capital projects. Funded capital projects have been approved
and adopted by Town Council. Unfunded projects are capital needs that are subject to more
discussion. These projects may be moved to the “Funded” section of the CIP or moved out into
future years depending on the Town’s priorities, funding availability, or other considerations.
Documenting unfunded projects ensures stakeholders are aware of the Town’s capital needs so that
funding can be secured or through further evaluation eliminate the project entirely.
IMPLEMENTATION
After the CIP is adopted by Town Council, departments use the CIP as a guide for implementing
capital improvements.
BUDGETING FOR ONGOING OPERATING COSTS OF CAPITAL PROJECTS
The CIP is developed and revised with the Town’s annual operating budget. Departments provide
estimated ongoing costs for capital projects to reduce any impact to cash flow. When a project is
completed, the operating costs are included in the department’s operating budget.
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FUNDED CAPITAL IMPROVEMENT PROJECT FORECAST
FY 2022
TotalsFY 2023FY 2024FY 2025FY 2026FY 2027PROJECT
thruAdoptedRevisedProposedProjectedProjectedProjectedProjectedGRAND
Project Description
PROJ #
FY 2021BudgetBudgetBudgetBudgetBudgetBudgetBudgetTOTAL
72,118 700,955 700,955- - - - -773,073
CP34Roanoke Road Reconstruction & Drainage South
26,828 - -- 72,160 - - - 98,988
CP40Sam School Road Reconstruction & Drainage
CP82
259,398 100,000 80,000 120, 000 50,000 - - - 509,398
SH114 Service Road Construction
- 91,250 91,250- - - - -91,250
CP83GPS Opticom Traffic Control
-- -- 246,000 - - - 246,000
CP92Glenwyck Farms Entranceways (2)
JT Ottinger Bridge Improvement
- - -- - 88,000 - - 88,000
CP
(future agreement with TxDOT)
234,800 - -- - - - - 234,800
CP84SH 170 Town Improvements
Total - Road Improvements - Dept 16 5,227,616 892,205 872,205 120,000 368,160 88,000 - - 6,675,981
CP85
61,722 - -- - - - - 61,722
WA Parking Improvements (Dept 17)
CP88
- - - 800,000 - - - - 800,000
WA Athletics Facilities Improvements
CP93
- - -- 150,000 - - - 150,000
WA pickup lane improvements
CP94
- - -- 246,000 - - - 246,000
Fire station driveway and parking extension
Total - Facility Improvements - Dept 17 165,307 - - 800,000 396,000 - - - 1,361,307
- - - 198,000 - - - - 198,000
CP90ADA trail enhancements Solana/Sam School Road
5,585 214,700 100,000 214, 700 - - - - 320,285
CP67Wayfinding Signage
117,742 250,000 100,000 64,317 - - - - 282,059
CP76Cemetery Improvements
- - 29,000 131, 000 - - - - 160,000
CP89Sam School/Knolls Open Space
Total - Trail/Park/Cemetery - Dept 19 123,327 464,700 229,000 608,017 - - - -
800,344
- - -- 560,705 - - - 560,705
CP52Trail - Academy to Cemetery
91,018 459,250 100,000 554, 815 - - - - 745,833
CP53Trail - Dove/Pearson/Aspen
98,543 475,565 280,000- - - - -378,543
CP60Pearson Lane Recon/Drainage
Total - Trail and Road Improvements - Dept 16 & 19 825,707 934,815 380,000 554,815 560,705 - - -
2,321,227
CP86
- 200,000 200,000 57,201 - - - - 257,201
Software Upgrades for WA
CP87
-- - 70,000 200, 000 - - - 270,000
Software Upgrades for Municipality
Total - Information Technology - Dept 18 & 20 366,088 200,000 200,000 127,201 200,000 - - -
893,289
TOTAL GOVERNMENTAL PROJECTS 6,708,046 2,210,033 1,524, 865 88,000 - - 12,052,149
2,491,720 1,681,205
FY 2022
TotalsFY 2023FY 2024FY 2025FY 2026FY 2027PROJECT
Funding Summary
thruAdopted
Adopted Revised Projected Projected Projected Projected GRAND
FY 2021Budget
Budget Budget Budget Budget Budget Budget TOTAL
Cash/Fund Balance (Formerly adopted) 6,708,046 200,000 229,000 456,201 200,000 88,000 - - 7,681,247
FY21/22 Bonds 30 Year -2,291,720 1,452,205 953,832 682,865 - - - 3,088,902
WAAC (Westlake Academy Athletic Club) - - - 800,000 - - - -
800,000
6,708,046 2,491,720 1,681,205 2,210,033 882,865 88, 000 - - 11,570,149
GRAND TOTAL ALL PROJECTS
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UNFUNDED/UNDER DISCUSSION CAPITAL IMPROVEMENT PROJECT FORECAST
TotalsFY 2022FY 2023FY 2024FY 2025FY 2026FUTURE YEARSPROJECT
Project Description
Proposed
DeptThruRevisedProjectedProjectedProjectedProjectedGRAND
Budget
No.FY 2021BudgetBudgetBudgetBudgetBudgetTOTAL
16 $ 544, 500
Hwy 170, 377 and Schwab Way Traffic Signal Upgrade $- $- $- $ 544,500 $- $- $-
16 1,311,640
Dove Road & Randol Mill Traffic Circle - - - - -91,960 1,219,680
16 1,000,000
SH 114 Main Lane Expansion (Engineering) - - 1,000,000 - - - -
16 1,244,449
SH 114/170 Enhancements 239,433 - - -1,005,016 - -
Sub-Total - Road/Street Improvements 239,433 - 1,000,000 544,500 1,005,016 91,960 1,219,680 4,100,589
17Fire Station No. 2 West Side of town - - - - 1,100,000 18,700,000- 19,800,000
17 12,000,000
Municipal Town Hall - - - - -110,000 11,890,000
Sam & Margaret Lee Westlake Academy Arts & Sciences
17
- - 2,600,000 7,370,000 7,370,000 - - 17,340,000
Center Expansion
Sub-Total - Facility Improvements - - 2,600,000 7,370,000 8,470,000 18,810,000 11,890,000 49,140,000
19
756,250
Hwy 377 Landscape Improvements (Phase I and II) - - - - 635,250 121,000 -
19 Trail - Fidelity Campus to Westlake Parkway at Hwy 114 - - - 453,750 - - - 453,750
19 220,000
Cemetery Improvements - - - 220,000 - - -
19 3,850,000
15-30 Acre Community Park - - - - - - 3,850,000
Sub-Total - Trail/Park/Cemetery Improvements - - - 673,750 635,250 121,000 3,850,000 5,280,000
TOTAL UNFUNDED (UNDER DISCUSSION)
$ 239,433 $ - $ 3,600,000 $ 8,588,250 $ 10,110,266 $ 19,022,960 $ 16,959,680 $ 58,520,589
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101
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MUNICIPAL FISCAL & BUDGETARY POLICIES
I.STATEMENT OF PURPOSE
II.SUMMARY OF POLICY INTENDED OUTCOMES
Operating Budget:
Revenues Management:
Expenditure Control:
Fund Balance/Retained Earnings:
Debt Management:
Intergovernmental Relationships:
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Grants:
Economic Development:
Fiscal Monitoring:
Financial Consultants:
Accounting, Auditing, and Financial Reporting:
Capital Improvement Plan/Budget and Program:
Capital Maintenance and Replacement:
Internal Controls:
III.OPERATING BUDGET
Preparation
Revenue Estimates for Budgeting:
Balanced Budget:
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Proposed Budget Process:
Budget Adoption:
Budget Award:
Budget Amendments:
Central Control
Planning:
Reporting:
Performance Measures & Productivity Indicators:
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Contingent Appropriation:
IV.REVENUES MANAGEMENT
Revenue Design Parameter:
Simplicity
Certainty
Equity
Administration
Adequacy, Diversification and Stability
Other Considerations.
Cost/Benefit of Incentives for Economic
Non-Recurring Revenues
Investment Income
Property Tax Revenues
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User-Based (Demand Driven) Fees and Service Charges
Enterprise Fund Rates
General and Administrative (G&A) Charges
Intergovernmental Revenues
Revenue Monitoring.
Special Revenue/Educational Funds.
V.EXPENDITURE CONTROL
Appropriations
Current Funding Basis
Avoidance of Operating Deficits
Balance/Retained Earnings Policy
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Maintenance of Capital Assets
Periodic Program Reviews
Salary
Purchasing
Prompt Payment
FUND BALANCE/RETAINED EARNINGS
General Fund Undesignated Fund Balance
Retained Earnings of Other Operating Funds
Use of Fund Balance
General Fund Balance Specifically
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VII.DEBT MANAGEMENT
Debt Issuance Analysis
Analysis of Debt Issuance and Debt Issuance Alternatives
Use of Debt Financing
Assumption of Additional Debt
Affordability Targets
Debt Structure
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Sale Process
Bond Rating Agencies Presentations
Continuing Disclosure
Debt Refunding
VIII.INTERGOVERNMENTAL RELATIONSHIPS
Legislative Program
IX.GRANTS
Grant Guidelines
Grant Review
Grant Program Termination
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X.ECONOMIC DEVELOPMENT
Positive Business Environment
Commitment to Business Expansion, Diversification, and Job Creation
Coordinate Efforts with Other Jurisdictions
Cost/Benefit of Incentives for Economic Development
XI.FISCAL MONITORING
Financial Status and Performance Reports
Compliance with Council Policy Statements
XII.FINANCIAL CONSULTANTS
XIII.ACCOUNTING, AUDITING, AND FINANCIAL REPORTING
Accounting
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External Auditing
External Financial Reporting
Responsibility of Auditor to Town
Internal Financial Reporting
XIV.CAPITAL BUDGET AND PROGRAM
Preparation
Control
Program Planning
Financing Programs
Reporting
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XV.CAPITAL MAINTENANCE AND REPLACEMENT
XVI.INTERNAL CONTROLS
Written Procedures
Department Directors’ Responsibilities
XVII.ASSET MANAGEMENT
Investments
Cash Management
Fixed Assets and Inventory
Capitalization Criteria
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Computer System/Data Security
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MUNICIPAL INVESTMENT POLICY
I.POLICY STATEMENT
II.SCOPE
III.OBJECTIVES AND STRATEGY
Safety of Principal
Liquidity
Diversification
Yield
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IV.LEGAL LIMITATIONS, RESPONSIBILITIES AND AUTHORITY
V.DELEGATION OF INVESTMENT AUTHORITY
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VI.PRUDENCE
Limitation of Personal Liability -
VII.INTERNAL CONTROLS
VIII.AUTHORIZED INVESTMENTS
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Delivery versus Payment -
IX.AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
primary
X.DIVERSIFICATION AND MATURITY LIMITATIONS
XI.SAFEKEEPING AND COLLATERALIZATION
Securities Owned by the Town -
Collateral -
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Authorized collateral will include only:
XII.REPORTING
XIII.DEPOSITORIES
XIV.INVESTMENT POLICY ADOPTION BY COUNCIL
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EMPLOYEE PAY PLAN POLICY
I.SCOPE OF PURPOSE
to be a unique community, blending preservation of our
natural environment and viewscapes, while serving our residents and businesses with
superior municipal and academic services that are accessible, efficient, cost-effective, and
transparent
First
Second
Third
II.DEFINITION
First
Second
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III.IMPLEMENTATION AND MAINTENANCE OF THE PAY PLAN
IV.CLASSIFICATION AND PAY BAND PLACEMENT
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V.PAY PLAN PARAMETERS
Internal Equity
Performance Pay
Market-Based Pay
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VI.BROADBAND CLASSIFICATIONS
BAND KIND TITLESUBKIND TITLE
BAND
VII.DEFINITIONS FOR THE BANDS ARE AS FOLLOWS:
"BAND E" POLICY DECISION -
"BAND D"PROGRAMMING DECISION -
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"BAND C"INTERPRETIVE DECISIONS -
BAND B”ROUTINE DECISIONS -
BAND A" AUTOMATIC DECISIONS -
"BAND O" DEFINED DECISIONS -
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VEHICLE MAINTENANCE & REPLACEMENTPOLICY
REPLACEMENT AND DEPRECIATION GUIDELINES
Purpose -
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Policy -
Category "A" -
Category "B" -
Category "C" -
Category "D" -
Category "E" -
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GUIDE FOR EARLY REPLACEMENT OF TOWN-OWNED VEHICLES
Early Replacement -
Depreciation Formula -
EXAMPLE A – Vehicles
EXAMPLE B – Small Equipment
Point Ranges for Replacement Consideration
Point Scale Condition Description
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Point range and guidelines for Category "B" and “C”
FactorPointsDescription
GRAND 60
TOTAL
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Point RangesConditionDescription
Below are two examples on how the point range and guidelines for Category "B" and “C” would
work.
Data Description Points
Total Points40 points
Data Description Points
Total Points20 points
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PROPERTY TAX OVERVIEW
The municipal property tax rate (or ad valorem rate) proposed will maintain the current adopted
rate of $0.16788 per $100 of assessed valuation. This rate is higher than the voter-approval rate
($0.15098 per $100 valuation) but less than the De Minimus rate ($0.17939 per $100 valuation).
Definitions of terminology can be found below.
This budget will raise more revenue from property taxes than last year’s budget by an amount of
$492,829 which is a 18.16% percent increase from last year’s budget. The property tax revenue to
be raised from new property added to the tax roll this year is $111,143.
The Town of Westlake will comply with all truth in taxation laws to protect the public’s right-to-know
about tax rate decisions.
ALLOCATION
Property tax is the third largest revenue source in the General Fund. This tax is allocated between
Maintenance and Operations (M&O) in the General Fund and Interest and Sinking (I&S) in the Debt
Service fund for the Town.
M&O: The M&O is the tax rate that is needed to raise the same amount of taxes that the Town
levied in the prior year plus the applicable percentage allowed by law. This rate accounts for such
thing as utilities and day-to-day operations.
I&S: The debt service rate includes the debt service necessary to pay the Town’s debt payments in
the coming year. This rate accounts for principal and interest on bonds and other debt secured by
property tax revenue.
Please see the tax rate change from FY22 adopted to FY23 proposed below:
Tax Rate Change FY22 FY 23 Variance
Adopted Proposed
M&O $0.10284 $0.10491 $0.0207
I&S $0.06504 $0.06297 $(0.0207)
Total $0.16788$0.16788 $ 0.00
The allocation for M&O is $.10491 and totals $2.0M. The allocation for I&S debt service is $0.06297
and totals $1.2M.
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ALLOCATION OF M&O AND I&S TAX RATES
0.06297
0.06504
0.18000
0.04298
0.04565
0.01777
0.01924
0.01687
0.02399
0.16000
0.008130.02482
0.14000
0.12000
0.10000
0.08000
0.13947
0.13907
0.13710
0.13201
0.12882
0.12490
0.06000
0.11453
0.11133
0.10491
0.10284
0.04000
0.02000
0.00000
FY14FY15FY16FY17FY18FY19FY20FY21FY22FY23
ActualActualActualActualActualActualActualActualAdoptedProposed
M&O RateI&S Rate
This graph depicts the historical allocation of property tax between Maintenance and Operations and Interest and Sinking
from FY14 – FY23 Proposed.
TRENDS
PROPERTY TAX RATE
This year is the 12th year the Town of Westlake has assessed a local property tax.
Property Tax Rate per $100 assessed valuation
0.20000
0.167880.167880.16788
0.16018
0.15684
0.156340.156340.15600
0.13695
0.13615
0.15000
0.10000
0.05000
0.00000
FY14 ActualFY15 ActualFY16 ActualFY17 ActualFY18 Actual
FY19 ActualFY20 ActualFY21 ActualFY22 AdoptedFY23 Proposed
The graph represents the historical tax rate for the Town of Westlake.
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PROPERTY TAX RATE COMPARISON
The property tax rateof $0.16788 per $100 valuationfor the Town continues to be one of the lowest
for municipalities in the immediate area and Westlake will remain in the bottom third of ALL
municipalities in the State.
PROPERTY TAX RATE COMPARISON
0.50000
0.44500
0.45000
0.39500
0.39000
0.37512
0.40000
0.35000
0.30681
0.27181
0.30000
0.23000
0.25000
0.200000.16788
0.15000
0.10000
0.05000
-
TrophySouthlakeKellerRoanokeColleyvilleGrapevineHighlandTY 22
ClubParkProposed
Based on TY 21property tax rates for surrounding cities and Westlake’s TY 22proposedtaxrate.
APPRAISED VALUE vs. TAXABLE VALUE
The Town of Westlake’sproperty values have increased over time. The difference between the
appraised value and the taxable value are the Town’s homestead and other exemptions.
Appraised Value v. Taxable Value
shown in billions
3
2.5
2
1.5
1
0.5
0
FY19FY20FY21FY22FY 23
Appraised ValueTaxable Value
This graph shows the historical appraised and taxable value of the Town of Westlake from FY19 to FY 23.
142
DEFINITIONS
NO-NEW-REVENUE (NNR) TAX RATE (FORMERLY KNOWN AS THE EFFECTIVE TAX RATE): The tax rate
that will generate the same total amount of property tax revenue as the previous year from the same
properties. This rate serves as the benchmark from which all Truth-in-Taxation requirements are
measured.
NNR MAINTENANCE & OPERATIONS (M&O) RATE: The tax rate that will generate the same amount
of tax revenue for maintenance and operations as the previous year. It does not consider revenues
from new properties in the current year.
VOTER-APPROVAL TAX (VA) RATE (FORMERLY KNOWN AS THE ROLL-BACK TAX RATE): The maximum
tax rate the Town may adopt without requiring an electionunlessthe De Minimis Rate is used.
o The calculated voter-approval rate is $0.15909 per $100 valuation.
MAINTENANCE & OPERATIONS (M&O) RATE: The portion of the ad valorem tax rated used for
maintenance and operations.
o The maintenance & operations tax rate for FY 23 is $0.10491 per $100 valuation
DEBT TAX (INTEREST & SINKING) RATE: The rate required to generate revenue to meet debt service
requirements, which is unlimited in terms of calculating the voter-approved tax rate.
o The debt tax rate for FY23 is $0.06297 per $100 valuation
DE MINIMIS RATE: The de minimis rate was added to SB2 to allow smaller cities some flexibility to
adopt a tax rate that generates $500,000 more in property tax revenue than the previous year. The
thinking was that applying a 3.5 percent voter-approval rate in some small communities would
unnecessarily restrict revenue growth to sometimes just a nominal amount, and the application of the
lowered voter-approval rate created an unfair result for small towns. This de minimis rate applies to
a city with a population of less than 30,000.
o The de minimis rate is $0.18276 per $100 valuation.
EXEMPTIONS & PROPERTY TAX REDUCTION
The Town of Westlake offer the following exemptions and property tax reduction programs to its residents:
Homestead Exemption
It is the intent of the Town Council of the Town of Westlake to adopt the highest possible homestead
exemption, which would be a homestead exemption in the amount of twenty percent (20%) of the value
of the homestead, and in any event, the exemption shall be at least a minimum of Five Thousand dollars
($5,000).
Additional 65+ Or Disabled Exemption
A $10,000 exemption on the taxable value of homes of 65+ or disabled residents. (This is one or the other,
not both).
Homestead Tax Ceiling, Or Tax Freeze (for 65+ or disabled)
This exemption limits the total amount of taxes residents who are 65+ or disabled pay so that their future
years’ taxes will not increase beyond what they currently pay upon qualification. Any resident that was 65
143
or disabled when the Town increased its zero, or 0%, ad valorem rate in 2010, did not pay any municipal
ad valorem taxes for the 2009 tax year due to this tax ceiling. After the 2010 tax levy, persons over 65 or
disabled with a Westlake residence homestead can freeze their municipal tax levy in the tax year of
qualification for the tax ceiling exemption, or tax freeze, and their municipal ad valorem taxes will remain
fixed at that amount. Additionally, they will not pay more but could potentially pay less if taxes are lowered.
PROPERTY TAX REDUCTION
The residents of Westlake voted to abolish the ½% additional sales and use tax for economic and industrial
development, Section 4A, and to implement the ½% local sales and use tax to be used to reduce the
property tax rate effective October 1, 2006. Prior year’s sales tax revenues are used in calculating the
current tax rates based on the State Comptroller’s Truth and Taxation process. Calculations of Westlake’s
tax rate take these revenues into consideration every year.
144
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.
Activity: A service performed by a department or division.
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.
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.
Ad Valorem Tax: A tax based on value (e.g., a property tax)
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.
Appraised Value: Either the market value or value determined by using another method of valuation according
to the Property Tax Code Chapter 23.
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 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.
Assessed Valuation: A value that is established for real or personal property for use as a basis for levying
property taxes.
Audit: An examination, usually by an official or a private accounting firm retained by the Town Council, 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.
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Basis of Budgeting: Methodused to determine when revenues and expenditures are recognized for budgetary
purposes; relates to the timing of the measurements made regardlessof the measurementfocus applied.
Basis of Accounting: A term used to refer 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.
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.
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
keeping expenditures within the limitations of available appropriations and revenues.
Capital Expenditures: 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.
Cash Basis: A basis of accounting under which transactions are recognized when cash changes hand
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.
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Council: The Mayor and five council members collectively acting as the legislative and policymaking body of
the town
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.
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.
Effective Tax Rate: The rate that would generate the same amount of levy as the prior year’s rate based on the
current year’s values.
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.
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 response to spending and debt management as they relate to
government services, programs, and capital investments.
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.
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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 Town Council 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.
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 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 regarding certain
operating elements (e.g. financial condition, service levels provided, etc.)
Grant: A contribution by a government or other organization to support a 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 to produce revenues in the form of interest, dividends, rentals, or
lease payments.
148
ISO:Insurance Service Office. The system to determine the rating of a fire department. A scale of 1 to 10, with
1 being the best score. This ISO rating schedule examines many factors relating to local fire departments,
especially focusing on training and equipment, and examines the locations of the fire stations in the
community.
L.F. (Linear feet): Length in feet.
Levy: To impose taxes, special assessments, or service charges for the support of Town activities. Also, the
amount of tax for an individual property or the sum of all individual amounts of tax.
Liabilities: Probably future sacrifices of economic benefits, arising from present obligations of an entity to
transfer assets or to provide services to other entities in the future because of past transactions or events;
what you owe.
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 per the items that will be
purchased.
MGD: Million gallons per day.
Maintenance and Operations (M&O): Taxes that are generated by the taxing unit for general expenses.
Major Funds: Funds whose revenues, expenditures/expenses, assets, or liabilities (excluding extraordinary
items) are at least 10 percent of corresponding totals for all governmental or enterprise funds and at least 5
percent of the aggregate amount for all governmental and enterprise funds.
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 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-major Funds: Funds whose revenues, expenditures, expenses, assets, or liabilities (excluding
extraordinary items) are at least 10 percent of corresponding totals for all governmental and enterprise funds.
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.
Objectives: Specific, measurable targets set in relation to goals.
149
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.
Personal Property: Items that can be owned but are not real property – divided into two types: tangible and
intangible.
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: Taxes levied on both real and personal property according to the property’s valuation and the tax
rate.
Property Tax Reduction Sales Tax (PTR): ½ cent sales tax approved by the Town of Westlake voters in May
2006. Texas law allowed the Town to collect the new ½ cent sales tax that does not share the restrictive
spending limitations on revenues designated to the 4A Economic Development Fund ½ cent 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 another 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.
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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.
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.
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ACRONYMS
TERM STANDS FOR TERMSTANDS FOR
ACCT Account HR Human Resources
AP Accounts Payable: ISO Insurance Service Office
AR Accounts Receivable IT Information Technology
BS Balance Sheet LTL Long Term Liabilities
CAFR Comprehensive Annual Financial Report MC Municipal Court
CF Cemetery Fund MGD Million gallons per day.
CIP Capital Improvement Plan OS Other Sources
CO'S Certificates of Obligations P&D Planning and Development
CPA Certified Public Accountant P&R Parks and Recreation
DS Debt Service PTR Property Tax Reduction Sales Tax
EF Enterprise Fund R&M Repair and Maintenance
EMS Emergency Medical Services ROW Right-of-way.
FLSA Fair Labor Standards Act S&P Standard & Poor's
FTE Full-Time Equivalent SCADA Supervisory Control and Data Acquisition.
FY Fiscal Year SLA Service Level Adjustment
G&O Goals and Objectives SRF Special Revenue Fund
GAAP Generally Accepted Accounting Principles TMRS Texas Municipal Retirement System
GASB Government Accounting Standards Board TRA Trinity River Authority
GF General Fund TXDOT Texas Department of Transportation
GFOA Government Finance Officers Association UMR Utility Maintenance and Replacement
Fund
GL General Ledger VMR Vehicle Maintenance and Replacement
Fund
GMR General Maintenance and Replacement WA Westlake Academy
Fund
GO General Obligation Bonds XFR Transfer
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