lina williams budget & financial analyst christopher m. quinn, macc, cpa, cfe, cgfo, cgma...
TRANSCRIPT
Year to Date Budget Review
Lina WilliamsBudget & Financial Analyst
Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMAFinance Director
Tuesday, April 28th, 2015
Budget Preparation TimelineJanuary
First Quarter Review February
Financial AuditMarch
Presentation of Annual Progress Report and Citizen Survey Results Revise 10 Year Infrastructure Plan
April Second Quarter Review FY 2016 Budget Input Begins for Departments Annual Update of the Strategic Action Plan Presentation of the Year to Date Budget
May Fund Presentation Long Term Financial Planning Presentation
June Revenue Source Presentation Property Tax Presentation
Budget Preparation TimelineJuly
General Fund Budget Workshop Adopt Maximum Millage Rate Proprietary Funds Budget Workshop Third Quarter Review
August Special Revenue & Capital Fund Budget Workshop Final Proposed Budget Presentation
September Public Hearing to Tentatively Adopt Millage Rate &
Budget Public Hearing to Adopt Final Millage Rate & Budget
October – November FY 2015 Year End Close-out
November – December End of Year Review Citizen’s Survey
Where we started Budget by fund
FUND FY 15General Fund 29,189,443$
Special Revenue Funds 40,803,439
Utility Fund 33,823,780
Utility Capital Projects Fund 12,919,000
Solid Waste Fund 7,373,520
Stormwater Management Fund 7,762,071
Building Permits Fund 2,730,683
Information Technology Fund 2,563,605
Enterprise Funds 67,172,659
Internal Services Funds 8,231,374
Subtotal Budget All Funds 145,396,915$ Less: Interfund Transfers 16,290,143
Total 129,106,772$
Where we started Revenue by Source
Where we started What do Property Taxes Pay For?
Ad Valorem Taxes, 11.0%
$16 million
Where we started Expenditures by Category
Personal Services
19%
Operating Expenses
27%Capital Outlay
35%
Debt Service
10%
Grants & Aide<1%
Transfers to Other Funds5%
Contingency4%
Where are we now? Revenues
Overall, revenues are tracking on budget• General Fund• Water/Wastewater• Stormwater• Building Permit Fund
Where are we now? State Pass-Through RevenueThrough March 31st
STATE REVENUE SHAR-ING
LOCAL OPTION FUEL SMALL COUNTY SURTAX 1/2 CENT SALES TAX COMMUNICATIONS SERVICES TAX
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000 Cu
rren
t YTD
Bud
get;
$900
,000
Curr
ent Y
TD B
udge
t; $7
91,0
00
Curr
ent Y
TD B
udge
t; $1
,185
,750
Curr
ent Y
TD B
udge
t; $1
,187
,500
Curr
ent Y
TD B
udge
t; $1
,250
,000
Curr
ent Y
TD A
ctua
l; $8
24,6
49
Curr
ent Y
TD A
ctua
l; $8
12,4
82
Curr
ent Y
TD A
ctua
l; $1
,212
,558
Curr
ent Y
TD A
ctua
l; $1
,174
,469
Curr
ent Y
TD A
ctua
l; $1
,258
,015
Previous YTD Budget vs. Current YTD Actual
Current YTD Budget Current YTD Actual
FY 2015 Budget vs. Actual:With the exception of the State Revenue Sharing and the Half-Cent Sales Tax, all state revenue collections are currently at or ahead of budget through March.
Where are we now? Building Permit Fund RevenueThough March 31st
2013 2014 2015300,000
400,000
500,000
600,000
700,000
800,000
900,000
425,382
821,779839,403
Where are we now? Single Family Residential PermitsThough March 31st
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY20150
20
40
60
80
100
120
140
160
180
October November December January February March
Where are we now? Expenditures
Overall, expenditures are on target for the year• Electric is tracking ahead of
budget• Fuel costs are significantly below
budgetCapital projects continue to be
overseen by the Infrastructure Team• All projects are meeting budget
expectations• PA-1 Water control structure failure
estimated to have an impact on the budget of approximately $450,000
What’s new? Additions to the Strategic Planning Process
Planning For
Results
Tracking Results
Reporting Results
Citizen Survey (December)
Director Evaluation (January)
Annual Progress Report (February)
Strategic Action Plan Review (March)
Budget Preparation (April - Aug.)
Budget Adoption (September)
Process Evaluation (October)
End of Year Review (November)
Vision
What’s Next? May
12th - Fund Review Presentation26th - Long Term Financial Planning Presentation
June9th - Revenue Source Presentation30th - Property Tax Primer Presentation
July14th - Budget Workshop - General Fund21st - Budget Workshop - Adopt Maximum Millage Rate28th - Budget Workshop - Proprietary Funds
August11th Budget Workshop – Special Revenue Funds & Capital Funds 25th - Final Proposed Budget Presentation
SeptemberPublic Hearing to tentatively adopt millage rate and budgetFinal Public Hearing to adopt final millage and budget