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HomeMy WebLinkAboutBudget Presentation 09-24-12 WESTL THE TOOWN 14),E S T L E EKE ACA PROPOSED BUDGET FY 2 ® 12 = 2 ® 13 PERFORMANCE LEADERSHIP _ J TEAMWORK DEDICATION / i INTEGRITY g Se MONDAY l'V1 ce Excellen ce SEPTEMBER 24, 2012 Fiscal Year 2012-2013 ------------------------------------ -------------------------- --------------------------- ----- (D ------------------- -------------------------------------------------------------- ----------------------------- 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 -------------------------- -------------------- ----------------------------------------- (D ------------------------------------------------------------------------------------------- ---------------------------- 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 or Comments . ti PERFORMANCE r LEADERSHIP ' TEAMWORK � r DEDICATION INTEGRITY t � 1 i'19 g Service Excel Proposed Budget — 09/24/12