Year to Date Budget Review

Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMAFinance Director

Lina WilliamsBudget & Financial Analyst

Tuesday, April 15th, 2014

Budget Preparation TimelineJanuary

First Quarter Review February

Financial AuditMarch

Presentation of Annual Progress Report and Citizen Survey Results Revise 10 Year Infrastructure Plan

April Presentation of the Year to Date Budget Second Quarter Review Budget Input Begins for Departments

May Annual Update of the Strategic Action Plan Fund Presentation Long Term Financial Planning Presentation

June Revenue Source Presentation Property Tax Presentation

Budget Preparation TimelineJuly

General Fund Budget Workshop Adopt Proposed 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

Where we started Budget by fund

Total General Fund 26,863,408$

Special Revenue Funds 32,356,846

Enterprise FundsUtility Fund 32,925,750 Utility Capital Projects Fund 15,976,000 Solid Waste Fund 7,400,000 Stormwater Management Fund 7,776,233 Building Permits & Inspections Fund 1,423,212 Golf Course Fund 1,525,960 Tennis Center Fund 327,385 Information Technology Fund 2,891,610

Internal Services FundsSelf Insured Health Fund 3,270,245 Fleet Management Fund 4,387,163

Subtotal Budget All Funds 137,123,812$ Less: Interfund Transfers 14,470,800 Total 122,653,012$

Where we started General Fund

GENERAL FUND REVENUES GENERAL FUND EXPENDITURESPROPOSED PROPOSED

SOURCE FY 14 DEPARTMENT FY 14Ad Valorem Taxes $14,978,500 General Fund Permits, Fees and Special Assessments 756,600 City Council $95,672Local Business Tax 395,000 City Manager 363,316Communications Services Taxes 2,650,000 Community Relations 348,982Interest and Other Earnings 295,000 Purchasing and Contracts Management 252,142Local Option, Use and Fuel Taxes 425,000 Economic Development 284,945Judgments, Fines & Forfeits 679,000 City Clerk 145,076Intergovernmental Revenue 3,291,465 Human Resources 340,319Miscellaneous Revenues 65,000 Law Enforcement 2,599,863Charges for Services 2,535,843 City Attorney 394,276Transfers from Other Funds 792,000 Financial Services 702,866Appropriated Fund Balance - Community Development 3,789,944

$26,863,408 Fire 7,347,270Public Works 6,109,176Engineering 528,624Recreation and Parks 2,569,430Non-Departmental 991,507

Total General Fund $26,863,408

Where we started Revenue by source

Where we started Expenditures by function

Where are we now?Revenues

Overall revenues are tracking on budget• General Fund• Water/Wastewater• Solid Waste• Stormwater

Where are we now?Revenues

Building revenues are tracking ahead of budget• Water Impact Fees• Wastewater Impact Fees• Recreation Impact Fees• Fire Impact Fees• Transportation Impact Fees• Zoning Fees• Planning Fees

Where are we now?Revenues

Building Permit Revenue

Where are we now?Revenues

Number of Permits Issued

Where are we now?Tax revenue from the State through March 2014

Where are we now?Expenditures

Overtime10 division are ahead of budget for overtimeFour major causes have been identified

• Staffing vacancies 42%• Starlight tornado 27%• Operational needs 23%• Increase in development 8%

Not anticipated to be an issue at this time

Where are we now?Expenditures

Capital ProjectsCapital projects are being overseen by the

Infrastructure TeamAll projects are meeting budget expectationsProject timeline is being updated quarterly

What’s New?New “Finance Reports & Documents” section on

the City Website Presentations - Financial Reports - Quarterly

Progress Reports & More!

What’s New?Budget at a Glance

What’s New?Staff is now participating in the government

finance officers association (GFOA)budget reviewer program

What’s New?Long Range Financial Planning Process Defined

Finance Review • Budget compliance

review • YTD budget review with

department• Memo to City Manager

regarding findings

Department Review • Review performance

measures• Prepare quarterly progress

report • Schedule meeting with City

Manager

Annual Strategic Action Plan Review

Annual Progress Report

Annual Budget

City Manager Review

• Budget YTD review and findings by finance

• Performance measures review

• Quarterly progress report

What’s New?Quarterly Review Process Continues to Improve

What’s Next?May

13th - Fund Review Presentation27th - Long Term Financial Planning Presentation

June10th - Revenue Source Presentation24th - Property Tax Primer Presentation

July8th - Budget Workshop - General Fund15th - Budget Workshop - Adopt Proposed Millage Rate29th - Budget Workshop - Proprietary Funds

August12th Budget Workshop – Special Revenue Funds & Capital Funds 26th - Final Proposed Budget Presentation

September3rd - Public Hearing to tentatively adopt millage rate and budget17th - Final Public Hearing to adopt final millage and budget

Questions & Discussion