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HomeMy WebLinkAboutBudget Presentation1 PROPOSED BUDGET Town of Westlake “Westlake, a premier knowledge based community” Budget Theme Proposed Budget 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 2 Town of Westlake “Westlake, a premier knowledge based community” Fiscal Year 2011/2012 Proposed Budget $20 million Proposed Budget Review FY 2011/2012 3  Revenues (net of other sources)- decrease of $621K (4%) •Mostly due to decrease in sales tax (Deloitte construction) offset by additional Academy funding  Expenditures (net of other uses) - Increase of $2.3M (15%) •11% - $1.6M due to capital projects • 5% - $700K Academy • -1% - Municipal expenditure decrease Fund Balance – decrease by 21% ($2.6M) •Primarily due to the use of $2M for capital projects Town of Westlake “Westlake, a premier knowledge based community” Municipal Ad Valorem Tax Rate FY 10-11 FY 11-12 Adopted Proposed Tax Rate Tax Rate Variance M&O $ 0.1562 $ 0.13835 $ (0.01785) I&S $ 0.0039 $ 0.01849 $ 0.01459 $ 0.1601 $ 0.15684 $ (0.00326) • Proposed Rate 2% less than FY 10-11 rate of $.1601 • Proposed rate is 14% less than effective rate of $.17944 •Produces $1.3M in ad valorem tax revenue ($50K less than PY) Proposed Budget FY 2011/2012 4 Town of Westlake “Westlake, a premier knowledge based community” Proposed Budget FY 2011/2012 5 0.15 0.25 0.35 0.45 0.55 2005 2006 2007 2008 2009 2010 2011 2005 - 2010 Ad Valorem Tax Comparison Colleyville Flower Mound Fort Worth (.85) Grapevine Keller Roanoke Southlake Town Of Trophy Club Westlake Town of Westlake “Westlake, a premier knowledge based community” QUESTIONS? Proposed Budget 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 Quality $ 120,927  Work Force Attraction & Retention - 1% market pay adjustment: $24,928  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 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 Sustainability $ 700,000  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 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 $ 2,651,148  Street, drainage, streetscape and trail projects: 2,047,545  Water & sewer utility capital improvements: 603,603  Hillwood Agreement : 1,237,394 Total $ 3,888,542 Proposed Budget FY 2011/2012 9