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Home My WebLink AboutBudget PresentationTown of Westlake Fiscal Year 2011/2012 Proposed Budget Overview August 12, 2011 Town of Westlake Fiscal Year 2011/2012 Proposed Budget Review August 12, 2011 1 Town of Westlake “Westlake, a premier knowledge based community” Accomplishments Fiscal Year 2010/2011 Proposed Budget Review FY 2011/2012 2 Town of Westlake “Westlake, a premier knowledge based community” Fiscal Year 2011/2012 Proposed Budget $19.9 million Proposed Budget Review FY 2011/2012 3 Including: • Interfund Transfers • Westlake Academy • Major Maintenance & Equipment Replacement Needs • 22% decrease from FY 10/11 estimate • Remove FY 10/11 Capital Projects, and it’s a 16% increase over FY 10/11 estimate due primarily to FY 11/12 capital projects and WA • Debt Service • Capital Projects Town of Westlake “Westlake, a premier knowledge based community” Budget Theme Proposed Budget Review FY 2011/2012 FY 2010/2011 Adopted: “Securing the Vision” FY 2011/2012 Adopted: “Investing in Our Future” Driven By: •Vision, Value and Mission Statements • DirectionFinders 4 Town of Westlake “Westlake, a premier knowledge based community” Proposed Budget Review FY 2011/2012 Vision Statement Westlake is an oasis of tranquility and natural beauty amidst an ever expanding urban landscape. Vision Points • A Sense of Place • We are Leaders • We are a Caring Community • Exemplary Governance • Service Excellence Mission Statement “On behalf of the citizens, the mission of the Town of Westlake is to be a one-of-a-kind community that blends our rural atmosphere with our vibrant culture and metropolitan location.” 5 Town of Westlake “Westlake, a premier knowledge based community” FY 2011/2012 Proposed Budget Areas of Emphasis • Investment in Service Delivery Sustainability • Investment in Service Delivery Quality • Investment in Infrastructure Proposed Budget Review FY 2011/2012 6 Town of Westlake “Westlake, a premier knowledge based community” FY 2011/2012 Proposed Budget Areas of Emphasis Investment in Service Delivery Sustainability $ 788,770  New Ambulance: $200,000  Replacement of major physical plant items as needed: $68,320  Trail repairs: $10,000  Information technology equipment replacement: $27,800  Westlake Academy physical plant maintenance/refurbishment: $112,400  Balance to funding contribution of fire pumper truck replacement in FY 2015/2016  Purchase of attack fire (brush) truck: $170,000 (note: self-funded item) Proposed Budget Review FY 2011/2012 7 Town of Westlake “Westlake, a premier knowledge based community” FY 2011/2012 Proposed Budget Areas of Emphasis Investment in Service Delivery Quality $ 113,599  Work Force Attraction & Retention - 1% market pay adjustment: $17,600  Work Force Attraction & Retention – One-time performance pay: $45,000  Public Safety Services – Cost increase in annual Keller Police services contract: $28,899  Additional combined 0.5 positions for .25 maintenance worker and .25 IT tech: $22,100 Proposed Budget Review FY 2011/2012 8 Town of Westlake “Westlake, a premier knowledge based community” FY 2011/2012 Proposed Budget Areas of Emphasis Investment in Infrastructure by the Town $ 2,636,148  Street, drainage, streetscape and trail projects: $2,032,545  Water & sewer utility capital improvements: $ 603,603  Hillwood Agreement : $ 1,237,394 Total $ 3,873,542 Proposed Budget Review FY 2011/2012 9 Town of Westlake “Westlake, a premier knowledge based community” Changes and Trends General Fund • Revenues to Expenditures • Projected Fund Balance • Sales Tax • Ad Valorem Tax Proposed Budget Review FY 2011/2012 10 Town of Westlake “Westlake, a premier knowledge based community” Changes and Trends Municipal Ad Valorem Tax Rate FY 10-11 FY 11-12 Adopted Proposed Tax Rate Tax Rate Variance $ 0.1562 $ 0.1384 $ (0.0179) $ 0.0039 $ 0.0185 $ 0.0146 $ 0.1601 $ 0.1568 $ (0.0033) • Proposed Rate 2% less than FY 10-11 rate of $.1601 • Proposed rate is 14% less than effective rate of $.17944 Proposed Budget Review FY 2011/2012 11 Town of Westlake “Westlake, a premier knowledge based community” Changes and Trends • Debt Service • Utility Fund  Wholesale Rates • Replacement Funds • Special Revenue Funds Proposed Budget Review FY 2011/2012 12 Town of Westlake “Westlake, a premier knowledge based community” Funded Capital Improvement Plan • General Government $ 2,032,545 • Utility Fund $ 603,603 Subtotal $ 2,636,148 • Hillwood - Dove / Ottinger Rd. Agreement Contribution $ 1,237,394 Grand Total $ 3,873,542 Proposed Budget Review FY 2011/2012 13 Town of Westlake “Westlake, a premier knowledge based community” Funded CIP – Stated Another Way • General Government $ 2,032,545 • Hillwood - Dove / Ottinger Rd. Contribution Agreement $ 1,237,394 Subtotal $ 3,269,939 • Utility Fund $ 603,603 Grand Total $ 3,873,542 Proposed Budget Review FY 2011/2012 14 Town of Westlake “Westlake, a premier knowledge based community” CIP – Unfunded Projects Westlake Academy: $13.5 million unfunded capital projects • Size = Economies of Scale • New facility affordability directly connected to enrollment • Small size = no economies of scale = funding challenges Proposed Budget Review FY 2011/2012 15 Town of Westlake “Westlake, a premier knowledge based community” Possible Funding Sources for Unfunded School Capital Improvement Projects • Cash on hand • Debt issuance (must identify revenue source for retirement of bonds) • Enrollment growth (Hayes plan) • Grants • Donations • Combination of all or some of the above Proposed Budget Review FY 2011/2012 16 Town of Westlake “Westlake, a premier knowledge based community” 5-Year Forecast Proposed Budget Review FY 2011/2012 17 Town of Westlake “Westlake, a premier knowledge based community” Next Steps Proposed Budget Review FY 2011/2012 18