HomeMy WebLinkAboutBudget Presentation 09-24-12 WESTL
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PROPOSED BUDGET
FY 2 ® 12 = 2 ® 13
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SEPTEMBER 24,
2012
Fiscal Year 2012-2013
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Proposed Budget: $26.1M
➢ Revenues (net of transfers in) — increased $8M (47%)
• Anticipate $8.5M bond proceeds for WA facilities
• Sales tax decrease - reduction of presumed one-time receipts,
� audits and Deloitte receipts
• Property tax - decrease primarily due to abatements
y Expenditures (net of transfers out) — increased $3.9M (21%)
• Capital Projects — increased $4.5 (includes $1.3M WA facilities)
• Capital Outlay — reduced by purchase of attack truck in CY
• Westlake Academy — portion of the reduction of indirect cost
transfer to Town
y Fund Balance — increased $3.3M (25%)
• Bond Proceeds (increase of $8.5M)
• Capital Projects (decrease of $4.5M )
Proposed Budget— 09/24/12�
Fiscal Year 2017-2013
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Municipal Ad Valorem Tax Rate :
FY 11-12 FY 12-13
Adopted Proposed Variance
M&O $0. 138350 $0. 141970 $0.003620
Debt Service (I&S) $0.018490 $0.01487Q ($0.003620)
Total $0. 156840 $0. 156840 $0.000000
*Proposed rate — same as FY 11-12
*Proposed rate is 23% less than the "Effective Tax Rate" of $0. 19326
*Produces $1.3M in ad valorem tax revenue ($126K less than PY)
Proposed Budget — 09/24/12 1 Mi
Closing uestions
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Proposed Budget — 09/24/12