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HomeMy WebLinkAboutPackets - Budget and Finance Committee (42)       *AMENDED (6/15/19, 1:30 P.M.) AGENDA ORO VALLEY BUDGET AND FINANCE COMMISSION REGULAR SESSION JUNE 20, 2023 COUNCIL CHAMBERS 11000 N. LA CAÑADA DRIVE        REGULAR SESSION AT OR AFTER 4:00 PM   CALL TO ORDER   ROLL CALL   PLEDGE OF ALLEGIANCE   CALL TO AUDIENCE - at this time, any member of the public is allowed to address the Commission on any issue not listed on today’s agenda. Pursuant to the Arizona open meeting law, individual Commission members may ask Town staff to review the matter, ask that the matter be placed on a future agenda, or respond to criticism made by speakers. However, the Commission may not discuss or take legal action on matters raised during "Call to Audience." In order to speak during "Call to Audience", please specify what you wish to discuss when completing the blue speaker card.   STAFF LIAISON REPORT   REGULAR SESSION AGENDA   1.REVIEW AND APPROVAL OF THE MAY 16, 2023 REGULAR SESSION MEETING MINUTES   2.DISCUSSION AND POSSIBLE DIRECTION REGARDING MONTHLY PRESENTATION OF FINANCIAL RESULTS   3.PRESENTATION AND POSSIBLE DISCUSSION REGARDING THE TOWN'S FIVE-YEAR FINANCIAL FORECAST THROUGH FY 2028/29   4.PRESENTATION AND DISCUSSION OF THE TOWN FY 2023/24 TENTATIVE BUDGET   5.*PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 22/23 FINANCIAL UPDATE THROUGH APRIL 2023 (Please reference attachments)   COUNCIL LIAISON COMMENTS   ADJOURNMENT   POSTED: 06/14/23 at 5:00 p.m. by dt. POSTED: 06/14/23 at 5:00 p.m. by dt. *AMENDED AGENDA POSTED: 06/15/23 at 5:00 p.m. by mrs. When possible, a packet of agenda materials as listed above is available for public inspection at least 24 hours prior to the Commission meeting in the Town Clerk's Office between the hours of 8:00 a.m. – 5:00 p.m. The Town of Oro Valley complies with the Americans with Disabilities Act (ADA). If any person with a disability needs any type of accommodation, please notify the Town Clerk’s Office at least five days prior to the Commission meeting at 229-4700. INSTRUCTIONS TO SPEAKERS Members of the public have the right to speak during any posted public hearing. However, those items not listed as a public hearing are for consideration and action by the Commission during the course of their business meeting. Members of the public may be allowed to speak on these topics at the discretion of the Chair. If you wish to address the Commission on any item(s) on this agenda, please complete a blue speaker card located on the Agenda table at the back of the room and give it to the Recording Secretary. Please indicate on the speaker card which item number and topic you wish to speak on, or if you wish to speak during “Call to Audience,” please specify what you wish to discuss when completing the blue speaker card. Please step forward to the podium when the Chair announces the item(s) on the agenda which you are interested in addressing. 1. For the record, please state your name and whether or not you are a Town resident. 2. Speak only on the issue currently being discussed by the Commission. Please organize your speech, you will only be allowed to address the Commission once regarding the topic being discussed. 3. Please limit your comments to 3 minutes. 4. During “Call to Audience”, you may address the Commission on any issue you wish. 5. Any member of the public speaking must speak in a courteous and respectful manner to those present. Thank you for your cooperation. “Notice of Possible Quorum of the Oro Valley Town Council, Boards, Commissions and Committees: In accordance with Chapter 3, Title 38, Arizona Revised Statutes and Section 2-4-4 of the Oro Valley Town Code, a majority of the Town Council, Board of Adjustment, Historic Preservation Commission, Parks and Recreation Advisory Board, Stormwater Utility Commission, and Water Utility Commission may attend the above referenced meeting as a member of the audience only.”    Budget and Finance Commission 1. Meeting Date:06/20/2023   Submitted By:Melissa Flores, Legal SUBJECT: REVIEW AND APPROVAL OF THE MAY 16, 2023 REGULAR SESSION MEETING MINUTES RECOMMENDATION: Staff recommends approval. EXECUTIVE SUMMARY: N/A BACKGROUND OR DETAILED INFORMATION: N/A FISCAL IMPACT: N/A SUGGESTED MOTION: I MOVE to approve (approve with changes) the May 16, 2023 regular session meeting minutes. Attachments Draft Minutes 051623  D R A F T MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION MAY 16, 2023 COUNCIL CHAMBERS 11000 N. LA CAÑADA DRIVE            REGULAR SESSION AT OR AFTER 4:00 PM   CALL TO ORDER   ROLL CALL Present: John Fortunato, Commissioner Heather Laird, Vice Chair Gerald LeMay, Commissioner Michael Mason, Chair Absent:Jennifer Carr, Commissioner Staff Present:David Gephart, Chief Financial Officer Wendy Gomez, Deputy Finance Director Chris Hutchison, Senior Budget Analyst PLEDGE OF ALLEGIANCE - Chair Mason led the group in the Pledge of Allegiance.   CALL TO AUDIENCE - No comments were received.   STAFF LIAISON REPORT Chief Financial Officer David Gephart reported on the following: - Budget season is underway. There have been sessions with the Town Council discussing and answering questions regarding the recommended budget. A tentative budget will be brought before the Town Council for approval by June 7th and a final adoption of the budget on June 21st. - There are some new changes to the parliamentary rules that the Town Council have adopted. Trainings will be available for the Chair of the Commission by the Clerk.   REGULAR SESSION AGENDA   1.REVIEW AND APPROVAL OF THE APRIL 18, 2023 REGULAR SESSION MEETING MINUTES       Motion by Commissioner Gerald LeMay, seconded by Vice Chair Heather Laird  Vote: 4 - 0 Carried   05/16/2023 Minutes, Budget and Finance Commission Regular Session 1 2.DISCUSSION OF TOWN MANAGER'S RECOMMENDED BUDGET FOR FISCAL YEAR 23/24 Chief Financial Officer David Gephart, presented on Agenda Item #2. Discussion ensued amongst staff and commissioners.      3.PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FISCAL YEAR 22/23 QUARTERLY FINANCIAL UPDATE THROUGH MARCH 2023 Senior Budget Analyst Chris Hutchison presented on Agenda Item #3. Discussion ensued amongst staff and commissioners.      COUNCIL LIAISON COMMENTS No comments were received.   FUTURE AGENDA ITEMS - There are no future items to be added at this time.   ADJOURNMENT    Motion by Commissioner Gerald LeMay, seconded by Vice Chair Heather Laird to adjourn meeting at 4:29 P.M.  Vote: 4 - 0 Carried     I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the Town of Oro Valley Budget and Finance Commission of Oro Valley, Arizona held on the 16th day of May, 2023. I further certify that the meeting was duly called and held and that a quorum was present. Dated this 16th day of May, 2023. ___________________________ Melissa Flores Legal Secretary 05/16/2023 Minutes, Budget and Finance Commission Regular Session 2    Budget and Finance Commission 2. Meeting Date:06/20/2023   Submitted By:David Gephart, Finance SUBJECT: DISCUSSION AND POSSIBLE DIRECTION REGARDING MONTHLY PRESENTATION OF FINANCIAL RESULTS RECOMMENDATION: N/A EXECUTIVE SUMMARY: Per conversations in January, Town staff is bringing back this item for consideration regarding the potential for future discussion and review of monthly financial reports at Budget and Finance Commission meetings. BACKGROUND OR DETAILED INFORMATION: At the Budget and Finance Commission meeting on January 17, 2023, the subject of monthly financial presentations was discussed.  Due to most Commission members being relatively new in their role, the direction from the Commission was to bring this item back in six months to have further discussion as to whether quarterly financial presentations are still necessary or helpful.  This same subject was also discussed on January 4, 2023, at the regular Town Council meeting at the request of Mayor Winfield and Councilmember Solomon.  At that meeting, Councilmembers requested that monthly financial reports continue to be distributed, which are provided publicly on the Town of Oro Valley website, but that presentations occur on a quarterly basis. This item is being brought forward to request further direction from the Budget and Finance Commission as to what its preference is with regard to monthly financial reporting. FISCAL IMPACT: N/A SUGGESTED MOTION: I MOVE to...    Budget and Finance Commission 3. Meeting Date:06/20/2023   Submitted By:David Gephart, Finance SUBJECT: PRESENTATION AND POSSIBLE DISCUSSION REGARDING THE TOWN'S FIVE-YEAR FINANCIAL FORECAST THROUGH FY 2028/29 RECOMMENDATION: This item is for presentation and discussion. EXECUTIVE SUMMARY: The Town's adopted financial policies provide "as a part of the annual Town budget preparation cycle, the Finance Department shall prepare a minimum five-year financial forecast of projected revenues and expenditures to measure the financial sustainability of the Town's operations and service levels." As such, staff will present the five-year financial forecast through FY 2028/29 for the General Fund, Highway Fund, Capital Fund and Community Center Fund. The forecast assumptions were compiled by referencing several sources of data, including the University of Arizona, Joint Legislative Budget Committee (JLBC), State Finance Advisory Committee, Arizona Department of Revenue, and the Arizona Department of Transportation. Staff also incorporated Town historical trend data and professional judgment into formulation of this forecast. BACKGROUND OR DETAILED INFORMATION: General Fund The General Fund forecast demonstrates modest and reasonable growth in revenues over the next five years and is balanced with expenditure levels that sustain current levels of programs and services, continued capital investments, and continued commitment to reasonable employee compensation and benefits. The forecast assumes conservative growth with no major economic downturns. The forecast models local sales tax growth using several data points. Figures are provided by JLBC, the University of Arizona, and the Arizona Department of Transportation. These are then combined with the Town’s analysis and trend data to form the baseline forecast. Continued growth of 3-5% in most local sales tax categories is anticipated. Increases in construction sales tax are forecasted in FY24 and FY25 given the assumption of increased commercial construction in the near term, then decline slightly in outer years due to reduced available land area for new development. State shared revenues will see a sharp increase in FY 2023/24 due to a change in the revenue allocation from 15% to 18%. Beginning FY 2024/25, statutory income tax rate reductions and a cap of 2.5% will reduce the revenue 10.8%, and another 7.1% in FY 2025/26.  URS growth is then expected to stabilize to about 2% growth per year. The forecast assumes flat residential development continues through FY 2026/27, with a steep decline thereafter. Single family residential permits are forecasted to fall below 100 per year by FY 2028/29. Forecasted personnel expenditures in the General Fund reflect wage and step increases for employees, as well as increases for insurance coverage and other employee-related costs. The General Fund forecast also includes modest capacity for new positions. The forecast assumes the Town will continue to make elevated PSPRS contributions through FY 2024/25, with a reduction expected thereafter due to over-funded status. The forecast assumes operations and maintenance (O&M) costs increase 2% per year.  No changes to service levels are assumed. Annual transfers to the Capital Fund for CIP projects are assumed at 5% of sales tax collections plus any remaining fund balance over the 30% reserve policy. The ending fund balance in the General Fund is maintained at the Town’s adopted policy requirement of 30% of expenditures each year, ranging from approximately $15.0 - $16.9 million.   Highway Fund Highway Fund revenues are composed primarily of State-shared highway user (gas tax) revenues. The State-shared highway user revenue projections are provided by the Arizona Department of Transportation and are projected to grow 5% in FY 2024/25, with growth slowing to about 3.5% per year thereafter. Highway Fund expenditures reflect similar assumptions to those included in the General Fund forecast for personnel and O&M costs. Funding for the pavement preservation program is included in the forecast at $2.5-$2.8 million each year. To fund needed roadway CIP projects, the forecast assumes annual transfers of $4 million from the Capital Fund in FYs 2024/25 through 2026/27.   Capital Fund The Capital Fund is primarily supported by transfers from the General Fund, with supplemental sources from annual vehicle reserves, CIP-related bond proceeds, and grant-funded CIP projects. Capital Fund expenditures consist primarily of the Town’s projected CIP projects, as well as personnel costs for two temporary CIP managers. The forecast excludes the cost of a new police station, as a revenue source has not yet been identified. Vehicle replacement costs are projected to grow 10% annually due to inflation. As noted above, to fund needed roadway CIP projects, the forecast assumes annual transfers of $4 million from the Capital Fund into the Highway Fund in FYs 2024/25 through FY 2026/27.   Community Center Fund Community Center Fund revenue consists of local sales tax, contracted golf revenues, HOA golf contributions through FY 2024/25, Parks and Rec program revenue, and fitness memberships. Local sales tax estimates follow the same growth projections as the General Fund for relevant categories. Contracted golf revenues are modestly increased in FY 2023/24 and with a healthy bump in FY 2024/25 due to course closures for irrigation construction. The remaining recreation charges are conservatively forecasted to grow 1% annually, accounting for the potential impact high inflation may have on discretionary spending. Forecasted Town personnel and O&M figures reflect similar assumptions to the General Fund. Contracted expenditures related to golf operations, including the Pusch 9-hole course, assume annual cost increases of 5% in FY 2023/24 and 1-2% annually thereafter. Upon completion of irrigation construction, it is assumed that contractor operations, play levels and revenues are consistent with FY 2020/21 and FY 2021/22. Capital outlay in the Community Center Fund reflects the 10-year CIP, with additional costs of $150,000 assumed annually for other operating capital needs and maintenance. Transfers out reflects debt service on the Parks and Recreation bonds and the 2016 Community Center energy efficiency bonds. FISCAL IMPACT: N/A SUGGESTED MOTION: This item is for presentation and discussion. Attachments General Fund Forecast  General Fund Chart  General Fund Assumptions  Highway Fund Forecast  Highway Fund Chart  Highway Fund Assumptions  Capital Fund Forecast  Capital Fund Chart  Capital Fund Assumptions  Community Center Fund Forecast  Community Center Fund Chart  Community Center Fund Assumptions  Staff Presentation  Town of Oro ValleyFive-Year ForecastFY 22/23 EstimatedFY 23/24 TentativeFY 24/25 ProjectedFY 25/26 ProjectedFY 26/27 ProjectedFY 27/28 ProjectedFY 28/29 ProjectedSOURCESTaxes 27,031,462$ 26,398,318$ 28,024,560$ 28,758,293$ 31,096,860$ 30,747,462$ 31,672,268$ State Shared Revenue 18,405,604 22,953,222 22,052,464 21,821,068 22,548,044 23,303,237 24,071,732 Charges for Services 2,877,610 3,218,646 3,338,208 3,423,802 3,517,977 3,613,226 3,684,639 Licenses & Permits 2,636,961 1,717,118 1,827,011 2,357,215 2,601,111 1,982,150 1,756,252 Intergovernmental 1,600,500 1,869,500 1,887,295 1,905,268 1,923,421 1,941,755 1,960,272 Grants 659,000 657,415 663,989 670,629 677,335 684,109 690,950 Miscellaneous 611,900 263,000 273,520 284,461 295,839 307,673 319,980 Fines 85,000 125,000 126,250 127,513 128,788 130,076 131,376 Interest Income 300,000 300,000 255,690 263,730 271,439 279,805 287,939 Total Sources 54,208,037 57,502,219 58,448,987 59,611,979 63,060,815 62,989,491 64,575,408 USESPersonnel 33,379,955 35,652,260 36,159,451 37,322,888 38,617,334 39,879,057 41,237,279 O&M 11,549,240 13,386,754 13,452,376 13,855,121 14,061,752 14,429,593 14,655,352 Capital Outlay 848,382 1,360,600 537,030 547,771 558,726 569,901 581,299 Transfers Out 15,996,977 12,274,644 10,907,325 7,413,122 9,369,393 7,618,719 7,622,865 Total Uses 61,774,554 62,674,258 61,056,182 59,138,901 62,607,205 62,497,269 64,096,794 Surplus/(Use of Fund Balance) (7,566,517) (5,172,040) (2,607,195) 473,077 453,610 492,222 478,614 Beginning Fund Balance 30,390,423 22,823,906 17,651,867 15,044,672 15,517,749 15,971,360 16,463,582 Ending Fund Balance 22,823,906$ 17,651,867$ 15,044,672$ 15,517,749$ 15,971,360$ 16,463,582$ 16,942,196$ Reserve as % of Expenditures49.9% 35.0% 30.0% 30.0% 30.0% 30.0% 30.0%GENERAL FUND $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 $50,000,000 $55,000,000 $60,000,000 $65,000,000 $70,000,000FY 22/23EstimatedFY 23/24TentativeFY 24/25ProjectedFY 25/26ProjectedFY 26/27ProjectedFY 27/28ProjectedFY 28/29ProjectedGeneral FundSources, Uses and Fund BalanceUSESSOURCESFUND BALANCERESERVE (30%) Sources Assumptions Local Sales Taxes 1. Assuming revenues from development at the Oro Valley Marketplace 2. Slow economic growth with no major economic downturns in the five-year outlook 3. Slight decline in construction sales tax in outer years due to reduced available land area for new development 4.Hotel/bed tax modest 5% growth 5. Conservative levels of one-time, non-specific commercial development 6. 3-5% growth per year in retail, restaurant/bar, utility and other categories State Shared Revenues 1. Projections based on current reports from Joint Legislative Budget Committee and League of Cities and Towns 2. Growth projections range from 3-6%; higher estimates assumed for Smart and Safe revenue 3. Sharp increase in state shared income tax in FY 23/24 from by statutory increase in state shared revenue allocation from 15% to 18%; 10.8% reduction in FY24/25 and 7.1% reduction in FY25/26 for statutory tax cuts, growth of 2% thereafter 4. Smart and Safe revenues expected to have high growth in the near term and sustained high growth thereafter, similar to observations of other western states with legalized recreational cannabis (Colorado, Oregon, Washington) Charges for Services 1.3% growth rate in charges for services to enterprise funds 2.3-4% growth rate for Parks & Recreation related revenues 3.Development revenues tied to projected permitting activity 4.Marketplace permitting revenues from FY 24/25 to FY 28/29 Licenses & Permits 1. Conservative single family residential (SFR) permit activity in near term 2.Conservative commercial permitting activity forecast, with specific permitting for the Oro Valley Marketplace 3. Slowing revenues and activity in outer years attributable to reduced available land area for new development SFR Building Permit Forecast: Intergovernmental 1.School resource officer funding kept flat at $90,000 2. Conservative growth in RTA transit reimbursement revenue Grant Revenues/Fines 1.Police overtime grant revenues assumed at 1% growth per year 2. Fine revenues return to historical collections in FY 23/24; 1% growth per year thereafter Miscellaneous 1.Consists primarily of in-lieu bed tax income; 4% growth per year Interest Income 1. 1% growth per year 2. Subject to economic conditions and based on anticipated fund balance GENERAL FUND FORECAST ASSUMPTIONS FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected 119 138 197 210 133 84 GENERAL FUND FORECAST ASSUMPTIONS Uses Assumptions Salaries and Benefits 1. Police step increases included each year; pay adjustments included at 4.25% per year 2. Public safety pension rates kept flat at 43.47% until FY 24/25, with a 40% decrease expected in contributions 3. Health insurance premiums increase 3-4% per year 4. Capacity for approximately four new positions annually Operations & Maintenance 1. Forecast assumes no new initiatives or changes to service levels 2. Gas prices assumed to remain stable throughout the forecast period ($3.52/gal regular, $4.35/gal diesel) 3. Capital outlay reflects operating capital 4. 2-5% growth in O&M costs CIP Funding 1.Shown as transfer out to Capital Fund 2. Annual amounts equal to 5% of projected sales tax collections, plus any remaining fund balance over the 30% reserve policy 3.ARPA funding reflected in the transfer out to the Capital Fund for FY 22/23 Debt Service Transfers 1. Transfer amounts include debt service on the pension obligation bonds 2. Police impact fees cover a portion of Series 2018 debt service for evidence facility and substation bond improvements Town of Oro ValleyFive-Year ForecastFY 22/23 EstimatedFY 23/24 TentativeFY 24/25 ProjectedFY 25/26 ProjectedFY 26/27 ProjectedFY 27/28 ProjectedFY 28/29 ProjectedSOURCESState Shared Revenue 4,127,100$ 4,334,608$ 4,489,198$ 4,646,394$ 4,804,458$ 4,972,076$ 5,140,562$ Licenses & Permits 26,500 25,000 25,025 25,526 25,781 26,039 26,299 Interest Income 110,000 70,000 280,000 255,077 361,457 314,754 277,131 Miscellaneous 7,825 3,000 3,120 3,245 3,375 3,510 3,650 Transfers from Capital Fund - 1,500,000 4,000,000 4,000,000 4,000,000 Total Sources 4,271,425 5,932,608 8,797,343 8,930,241 9,195,071 5,316,378 5,447,642 USESPersonnel 1,196,095 1,262,861 1,382,643 1,403,978 1,432,041 1,460,744 1,490,102O&M 766,518 1,003,930 983,979 1,003,628 1,023,671 1,044,114 1,064,966Capital Outlay 2,641,398 4,202,000 4,995,500 6,462,063 5,852,542 2,819,532 2,888,521Total Uses 4,604,011 6,468,791 7,362,121 8,869,669 8,308,254 5,324,390 5,443,588 Surplus/(Use of Fund Balance) (332,586) (536,183) 1,435,222 60,572 886,817 (8,012) 4,054Beginning Fund Balance 1,206,985 874,399338,216 1,773,438 1,834,010 2,720,828 2,712,816 Ending Fund Balance 874,399$ 338,216$ 1,773,438$ 1,834,010$ 2,720,828$ 2,712,816$ 2,716,869$ HIGHWAY FUND $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000FY 22/23EstimatedFY 23/24TentativeFY 24/25ProjectedFY 25/26ProjectedFY 26/27ProjectedFY 27/28ProjectedFY 28/29ProjectedHighway FundSources, Uses and Fund BalanceUSESSOURCESFUND BALANCE Sources Assumptions Highway User Tax 1. Highway user revenues grow 3.4-3.6% per year 2. Forecast assumes no changes in state allocation of funds to cities and towns Miscellaneous 1.Low growth; minimal amount based on current trend Transfers In 1.Transfers from Capital Fund of $4 million annually from FY 24/25 through FY 26/27 to fund needed roadway projects Uses Assumptions Salaries and Benefits 1. Assumptions similar to General Fund for pay and benefit adjustments 2. Modest capacity for new positions Operations & Maintenance 1. Assumes no changes to service levels, 2% Growth rate Capital Outlay 1. Per 10-year CIP program; Capital Fund subsidizes projects in years when HURF revenues are not sufficient to cover costs 2.The La Cañada bridge deck repair ($7.7 million in FY26) is not in this forecast. Applying for outside funding Pavement Preservation 1. Assumes no significant increase in lane miles. $2.5 million base with 3% increases each year HIGHWAY FUND FORECAST ASSUMPTIONS Town of Oro ValleyFive-Year ForecastFY 22/23 EstimatedFY 23/24 TentativeFY 24/25 ProjectedFY 25/26 ProjectedFY 26/27 ProjectedFY 27/28 ProjectedFY 28/29 ProjectedSOURCESState Grants -$ 620,000$ -$ -$ -$ -$ -$ Interest Income 350,000 100,000 99,159 67,053 59,657 57,079 68,903 Miscellaneous 140,000 115,000 115,000 115,000 115,000 115,000 115,000 Vehicle Reserves 820,010 892,540 993,594 1,109,885 1,238,145 1,379,575 1,535,501 Transfers from General Fund 13,500,000 10,000,000 8,619,145 5,121,939 7,385,484 5,774,234 6,063,153 Transfer from Community Center Fund 4,077,075 - - - - - - Total Sources 18,887,085 11,727,540 9,826,899 6,413,877 8,798,285 7,325,888 7,782,558 USESPersonnel 236,528 254,765 157,755 158,790 - - - O&M 4,162 - - - - - - Capital Outlay 19,033,018 23,131,471 5,951,102 6,190,937 6,212,477 8,237,652 7,420,852Transfers to Highway Fund - 1,500,000 4,000,000 4,000,000 4,000,000 - - Total Uses 19,273,708 24,886,236 10,108,857 10,349,727 10,212,477 8,237,652 7,420,852 Surplus/(Use of Fund Balance) (386,623) (13,158,696) (281,959) (3,935,849) (1,414,191) (911,765) 361,706Beginning Fund Balance 23,952,930 23,566,30710,407,611 10,125,652 6,189,803 4,775,612 3,863,847 Ending Fund Balance 23,566,307$ 10,407,611$ 10,125,652$ 6,189,803$ 4,775,612$ 3,863,847$ 4,225,553$ CAPITAL FUND $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000FY 22/23EstimatedFY 23/24TentativeFY 24/25ProjectedFY 25/26ProjectedFY 26/27ProjectedFY 27/28ProjectedFY 28/29ProjectedCapital FundSources, Uses and Fund BalanceUSESSOURCESFUND BALANCE Sources Assumptions Vehicle Reserves 1. General Fund is charged the replacement value of new, non-enterprise fund vehicles over the useful life 2. Growth with assumed 2 new vehicle purchases annually Miscellaneous 1.Reflects vehicle sales and insurance recoveries; flat growth Transfers In 1.Transfers from General Fund consist of sales tax and excess General Fund reserves, per adopted financial policies Uses Assumptions Salaries and Benefits 1. Assumptions similar to General Fund for pay and benfit adjustments 2. Two temporary CIP project manager positions through FY 23/24; one in FY 24/25 through FY 25/26 3. No personnel costs after FY 25/26 Capital Outlay 1.Capital outlay reflects 10-year CIP program 2.Forecast also includes capacity for new vehicles and unplanned vehicle losses Transfers Out 1. Transfers to the Highway Fund subsidize HURF revenue as needed for roadway projects CAPITAL FUND FORECAST ASSUMPTIONS Town of Oro ValleyFive-Year ForecastFY 22/23 EstimatedFY 23/24 TentativeFY 24/25 ProjectedFY 25/26 ProjectedFY 26/27 ProjectedFY 27/28 ProjectedFY 28/29 ProjectedSOURCESTaxes 3,714,218$ 3,726,016$ 3,843,990$ 3,966,910$ 4,116,585$ 4,272,252$ 4,405,631$ Charges for Services 5,775,940 5,785,386 6,289,749 6,575,824 6,885,460 7,205,521 7,379,261 Interest Income 35,000 35,000 35,951 51,527 84,941 192,897 192,897 Miscellaneous 173,343 162,050 168,532 16,273 16,924 17,601 17,601 Total Sources 9,698,501 9,708,452 10,338,221 10,610,534 11,103,909 11,688,271 11,995,391 USESPersonnel 1,017,000 1,114,639 1,203,022 1,241,000 1,280,116 1,320,880 1,363,032 O&M 5,391,991 5,294,659 5,527,141 5,633,589 5,723,318 5,806,780 5,891,734 Capital Outlay 1,853,347 1,820,500 1,426,300 1,729,000 1,735,000 1,700,000 250,000 Debt Service 191,480 210,684 214,898 219,196 223,580 228,051 232,612 Transfers Out 6,105,141 1,717,203 1,717,328 1,715,524 1,717,768 1,712,060 1,714,286 Total Uses 14,558,959 10,157,685 10,088,689 10,538,308 10,679,782 10,767,771 9,451,664 Surplus/(Use of Fund Balance) (4,860,458) (449,233) 249,532 72,226 424,127 920,501 2,543,727 Beginning Fund Balance 5,860,458 1,000,000 550,767 800,300 872,526 1,296,653 2,217,154 Ending Fund Balance 1,000,000$ 550,767$ 800,300$ 872,526$ 1,296,653$ 2,217,154$ 4,760,881$ COMMUNITY CENTER FUND $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000FY 22/23EstimatedFY 23/24TentativeFY 24/25ProjectedFY 25/26ProjectedFY 26/27ProjectedFY 27/28ProjectedFY 28/29ProjectedCommunity Center FundSources, Uses and Fund BalanceUSESSOURCESFUND BALANCE Sources Assumptions Local Sales Taxes 1. Categories mirror General Fund forecast, where appropriate 2. Modest economic growth with no major economic downturns in the five-year outlook 3. 3-5% growth per year in retail, restaurant/bar, utility and other categories Charges for Services 1.1% growth rate for Parks & Recreation related revenues 2.3-4% growth rate in food and beverage revenue 3.2.7-2.9% growth rate for 36-hole golf revenue beyond FY 24/25 4.FY 24/25 and beyond reflect play levels and revenues similar to FY 21/22, 1% growth in rounds annually therafter 5.Pusch Ridge golf revenue 2.5% growth on green fees and food & beverage, 2% on munthly dues, 1% in other categories Miscellaneous 1.Forecast assumes HOA contributions end after FY 24/25, upon completion of five-year contracts Uses Assumptions Salaries and Benefits 1. Assumptions similar to General Fund for pay and benefit adjustments Operations & Maintenance 1. Golf operating model remains consistent with FY 21/22 2. Full staffing levels 3. Assumptions similar to General Fund for inflation 4. 1% growth rate for golf operations costs Capital Outlay 1.Capital outlay per 10-year CIP program 2.$150,000 annually for building improvements and minor assets 3.Vistoso Trails Nature Preserve maintenance at $100,000 per year Transfers Out 1.Debt service on the Parks and Recreation bonds and the 2016 Community Center energy efficiency bonds COMMUNITY CENTER FUND FORECAST ASSUMPTIONS Five-Year Financial Forecast June 20, 2023 OVERVIEW General Fund, Highway Fund, Capital Fund, and Community Center Fund Snapshot based upon known current information Serves as planning document for future budgets Forecast is updated annually as part of the budget process Sources: University of Arizona, Joint Legislative Budget Committee, AZ Department of Transportation, as well as the knowledge, expertise and professional judgment by Town management and staff GENERAL FUND SOURCES -ASSUMPTIONS Assumes continued economic recovery with no major economic downturns All revenue sources at or above pre-pandemic levels Continued growth of 3-5% in most local sales tax categories Construction sales tax and permitting revenues reflect continued, stable activity in near term, with slight declines beginning FY 26/27 due to reduced available land for new development Conservative commercial permitting activity forecast Single family residential permits State shared revenues One-time increase in FY 23/24 due to change in state allocation adjustment from 15% to 18% Income tax rate reduction and cap of 2.5% expected to affect FY 24/25 onward FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected 119 138 197 210 133 84 GENERAL FUND SOURCES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected SOURCES Taxes 27,031,462$ 26,398,318$ 28,024,560$ 28,758,293$ 31,096,860$ 30,747,462$ 31,672,268$ State Shared Revenue 18,405,604 22,953,222 22,052,464 21,821,068 22,548,044 23,303,237 24,071,732 Charges for Services 2,877,610 3,218,646 3,338,208 3,423,802 3,517,977 3,613,226 3,684,639 Licenses & Permits 2,636,961 1,717,118 1,827,011 2,357,215 2,601,111 1,982,150 1,756,252 Intergovernmental 1,600,500 1,869,500 1,887,295 1,905,268 1,923,421 1,941,755 1,960,272 Grants 659,000 657,415 663,989 670,629 677,335 684,109 690,950 Miscellaneous 611,900 263,000 273,520 284,461 295,839 307,673 319,980 Fines 85,000 125,000 126,250 127,513 128,788 130,076 131,376 Interest Income 300,000 300,000 255,690 263,730 271,439 279,805 287,939 Total Sources 54,208,037 57,502,219 58,448,987 59,611,979 63,060,815 62,989,491 64,575,408 GENERAL FUND GENERAL FUND USES -ASSUMPTIONS Employee pay adjustments and Police step increases included in all years of forecast Modest capacity for new FTEs Continued capacity for normal increases in employee-related personnel costs (ERE) Continuation of elevated PSPRS payments until FY 24/25, with a 40% decrease expected O&M assumes current service levels Transfers for CIP projects assumed at 5% of sales tax collections per Town Council financial policies, plus all fund balance over 30% reserve GENERAL FUND USES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected USES Personnel 33,379,955 35,652,260 36,159,451 37,322,888 38,617,334 39,879,057 41,237,279 O&M 11,549,240 13,386,754 13,452,376 13,855,121 14,061,752 14,429,593 14,655,352 Capital Outlay 848,382 1,360,600 537,030 547,771 558,726 569,901 581,299 Transfers Out 15,996,977 12,274,644 10,907,325 7,413,122 9,369,393 7,618,719 7,622,865 Total Uses 61,774,554 62,674,258 61,056,182 59,138,901 62,607,205 62,497,269 64,096,794 Surplus/(Use of Fund Balance)(7,566,517) (5,172,040) (2,607,195) 473,077 453,610 492,222 478,614 Beginning Fund Balance 30,390,423 22,823,906 17,651,867 15,044,672 15,517,749 15,971,360 16,463,582 Ending Fund Balance 22,823,906$ 17,651,867$ 15,044,672$ 15,517,749$ 15,971,360$ 16,463,582$ 16,942,196$ Reserve as % of Expenditures 49.9%35.0%30.0%30.0%30.0%30.0%30.0% GENERAL FUND GENERAL FUND FORECAST $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 $50,000,000 $55,000,000 $60,000,000 $65,000,000 $70,000,000 FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected General Fund Sources, Uses and Fund Balance USES SOURCES FUND BALANCE RESERVE (30%) HIGHWAY FUND SOURCES -ASSUMPTIONS Arizona Department of Transportation forecasts moderate growth, 3.4 -3.6%, in highway user gas tax (HURF) revenues Other revenue sources assume modest and incremental growth Transfers in from the Capital Fund supplement HURF revenues for roadway projects identified in the tentative, ten-year CIP First Avenue mill/overlay -$1.7 million in FY 24/25 Rancho Vistoso Blvd mill/overlay -$2 million in FY 25/26 Tangerine Road mill/overlay -$2.6 million in FY 26/27 Annual pavement preservation program La Cañada bridge deck repair ($7.7 million in FY26) not included in forecast as we are applying for outside funding HIGHWAY FUND SOURCES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected SOURCES State Shared Revenue 4,127,100$ 4,334,608$ 4,489,198$ 4,646,394$ 4,804,458$ 4,972,076$ 5,140,562$ Licenses & Permits 26,500 25,000 25,025 25,526 25,781 26,039 26,299 Interest Income 110,000 70,000 280,000 255,077 361,457 314,754 277,131 Miscellaneous 7,825 3,000 3,120 3,245 3,375 3,510 3,650 Transfers from Capital Fund - 1,500,000 4,000,000 4,000,000 4,000,000 - - Total Sources 4,271,425 5,932,608 8,797,343 8,930,241 9,195,071 5,316,378 5,447,642 HIGHWAY FUND HIGHWAY FUND USES -ASSUMPTIONS Personnel and O&M figures reflect similar assumptions to General Fund Pavement preservation funding is included at $2.5 –$2.8 million per year Capital outlay reflects ten-year, tentative CIP schedule HIGHWAY FUND USES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected USES Personnel 1,196,095 1,262,861 1,382,643 1,403,978 1,432,041 1,460,744 1,490,102 O&M 766,518 1,003,930 983,979 1,003,628 1,023,671 1,044,114 1,064,966 Capital Outlay 2,641,398 4,202,000 4,995,500 6,462,063 5,852,542 2,819,532 2,888,521 Total Uses 4,604,011 6,468,791 7,362,121 8,869,669 8,308,254 5,324,390 5,443,588 Surplus/(Use of Fund Balance)(332,586)(536,183)1,435,222 60,572 886,817 (8,012)4,054 Beginning Fund Balance 1,206,985 874,399 338,216 1,773,438 1,834,010 2,720,828 2,712,816 Ending Fund Balance 874,399$ 338,216$ 1,773,438$ 1,834,010$ 2,720,828$ 2,712,816$ 2,716,869$ HIGHWAY FUND HIGHWAY FUND FORECAST $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,000 FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected Highway Fund Sources, Uses and Fund Balance USES SOURCES FUND BALANCE CAPITAL FUND SOURCES -ASSUMPTIONS Capital Fund is supported by General Fund transfers, vehicle reserves for fleet replacements, bond proceeds and grants Miscellaneous revenues, including sale of assets and insurance recoveries held steady in the forecast Non-enterprise fund vehicle reserves charged to General Fund based on replacement cost of each vehicle over useful life and includes 10% cost inflation Transfers annually from the General Fund reflect 5% of sales tax and excess fund balance over 30% reserve CAPITAL FUND SOURCES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected SOURCES State Grants -$ 620,000$ -$ -$ -$ -$ -$ Interest Income 350,000 100,000 99,159 67,053 59,657 57,079 68,903 Miscellaneous 140,000 115,000 115,000 115,000 115,000 115,000 115,000 Vehicle Reserves 820,010 892,540 993,594 1,109,885 1,238,145 1,379,575 1,535,501 Transfers from General Fund 13,500,000 10,000,000 8,619,145 5,121,939 7,385,484 5,774,234 6,063,153 Transfer from Community Center Fund 4,079,275 - - - - - - Total Sources 18,889,285 11,727,540 9,826,899 6,413,877 8,798,285 7,325,888 7,782,558 CAPITAL FUND CAPITAL FUND USES -ASSUMPTIONS Two temporary CIP project managers through FY 23/24; one in FY 24/25 and FY 25/26; no personnel costs after FY 25/26 Capital outlay reflects ten-year, tentative CIP schedule, excluding the new police station, pending an identified funding source New vehicle purchases (in addition to replacements) assumed at one patrol vehicle and two other vehicles annually 10% inflation for vehicle replacements Transfers out to the Highway Fund for roadway CIP projects CAPITAL FUND USES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected USES Personnel 236,528 254,765 157,755 158,790 - - - O&M 4,162 - - - - - - Capital Outlay 19,033,018 23,131,471 5,951,102 6,190,937 6,212,477 8,237,652 7,420,852 Transfers to Highway Fund - 1,500,000 4,000,000 4,000,000 4,000,000 - - Total Uses 19,273,708 24,886,236 10,108,857 10,349,727 10,212,477 8,237,652 7,420,852 Surplus/(Use of Fund Balance)(386,623)(13,158,696)(281,959)(3,935,849)(1,414,191)(911,765)361,706 Beginning Fund Balance 23,952,930 23,566,307 10,407,611 10,125,652 6,189,803 4,775,612 3,863,847 Ending Fund Balance 23,566,307$ 10,407,611$ 10,125,652$ 6,189,803$ 4,775,612$ 3,863,847$ 4,225,553$ CAPITAL FUND CAPITAL FUND FORECAST $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected Capital Fund Sources, Uses and Fund Balance USES SOURCES FUND BALANCE COMMUNITY CENTER FUND SOURCES -ASSUMPTIONS Local sales tax figures follow same growth as General Fund for relevant categories Operations assumed on 18 holes for six months of the year in FY 23/24 for irrigation project Conservative 1% growth for Parks & Recreation related revenues to account for potential discretionary spending decreases as result of inflation HOA contributions end after FY 24/25, upon completion of five-year contracts COMMUNITY CENTER FUND SOURCES -FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected SOURCES Taxes 3,714,218$ 3,726,016$ 3,843,990$ 3,966,910$ 4,116,585$ 4,272,252$ 4,405,631$ Charges for Services 5,775,940 5,785,386 6,289,749 6,575,824 6,885,460 7,205,521 7,379,261 Interest Income 35,000 35,000 35,951 51,527 84,941 192,897 192,897 Miscellaneous 173,343 162,050 168,532 16,273 16,924 17,601 17,601 Total Sources 9,698,501 9,708,452 10,338,221 10,610,534 11,103,909 11,688,271 11,995,391 COMMUNITY CENTER FUND COMMUNITY CENTER FUND USES -ASSUMPTIONS Personnel and O&M figures reflect similar assumptions to General Fund Contracted expenditures include Pusch 9-hole course Capital outlay reflects ten-year, tentative CIP schedule $100K annually for Vistoso Trails Nature Preserve maintenance $150,000 annually for building improvements and minor assets (non-CIP) Debt service transfers for Parks and Recreation bonds and energy efficiency bonds COMMUNITY CENTER FUND USES –FORECAST Town of Oro Valley Five-Year Forecast FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected USES Personnel 1,017,000 1,114,639 1,203,022 1,241,000 1,280,116 1,320,880 1,363,032 O&M 5,391,991 5,294,659 5,527,141 5,633,589 5,723,318 5,806,780 5,891,734 Capital Outlay 1,853,347 1,820,500 1,426,300 1,729,000 1,735,000 1,700,000 250,000 Debt Service 191,480 210,684 214,898 219,196 223,580 228,051 232,612 Transfers Out 6,105,141 1,717,203 1,717,328 1,715,524 1,717,768 1,712,060 1,714,286 Total Uses 14,558,959 10,157,685 10,088,689 10,538,308 10,679,782 10,767,771 9,451,664 Surplus/(Use of Fund Balance)(4,860,458) (449,233) 249,532 72,226 424,127 920,501 2,543,727 Beginning Fund Balance 5,860,458 1,000,000 550,767 800,300 872,526 1,296,653 2,217,154 Ending Fund Balance 1,000,000$ 550,767$ 800,300$ 872,526$ 1,296,653$ 2,217,154$ 4,760,881$ COMMUNITY CENTER FUND COMMUNITY CENTER FUND FORECAST $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 FY 22/23 Estimated FY 23/24 Tentative FY 24/25 Projected FY 25/26 Projected FY 26/27 Projected FY 27/28 Projected FY 28/29 Projected Community Center Fund Sources, Uses and Fund Balance USES SOURCES FUND BALANCE Questions?    Budget and Finance Commission 4. Meeting Date:06/20/2023   Submitted By:David Gephart, Finance SUBJECT: PRESENTATION AND DISCUSSION OF THE TOWN FY 2023/24 TENTATIVE BUDGET RECOMMENDATION: This item is for presentation and discussion only. EXECUTIVE SUMMARY: On June 7, 2023, Town Council approved the Town FY2024 Tentative budget in the amount of $148,489,391. BACKGROUND OR DETAILED INFORMATION: Staff presented the FY 2023/24 Manager's Recommended Budget in the amount of $147,889,221 at the May 10 and May 11 Town Council budget study sessions. Further, staff presented the FY 2023/24 Tentative Budget at the June 7, 2023 Town Council Meeting, which was adopted, setting the Town maximum spending authority at $148,489,391 next fiscal year. Relevant details of the changes from the Town Manager's Recommended Budget to the Tentative Budget for FY 2023/24 are explained below: General Fund: Revenues:  Opioid settlement revenues of $100,000 have been migrated to the Grants Fund. The administrative service charge to the Water Fund has been increased in the amount of $105,600 due to an increase in the Sprypoint Billing software charge ($40k) and inclusion of a Water office lease ($65,600). Decreased smart and safe revenue by $47,024. Expenditures:  General Fund personnel costs have been increased $140,915 as a refinement to the personnel model. Operations and maintenance costs increased $105,000 from the TMRB, which was comprised of a net $25,000 in additional software costs, $50,000 was added for capacity to utilize a space needs consultant, and $35,000 was carried over from the current year for the Rooney Ranch master plan effort. Finally, the amount budgeted for the Court's Arizona Rangers was reduced by $5,000. Capital decreased $845,534 as the Westward Look Drive improvements were migrated to the Grants Fund. With changes to revenues and expenditures, the budgeted use of fund balance in the General Fund is now $5,186,439, which represents a $633,295 favorable increase from the TMRB. Highway Fund: Expenditures:  Highway Fund personnel costs have been refined for FY 2023/24, necessitating an increase of $2,516. Grants Fund: Revenues:  Added $110,000 for a DOJ COPS health and wellness award. Migrated $100,000 from the General Fund for Opioid settlement revenues. Migrated $100,000 from the General Fund for Opioid settlement revenues. Expenditures:  Added $110,000 for increased travel and training in O&M. Added $979,252 in capital for Westward Look Drive improvements and increased carryover for the Pusch Ridge Facility ADA and Code Compliance. Community Center Fund: Revenues:  Reduced investment revenues by $115,000. Refined the charges for service projection by $30,100. Expenditures:  Personnel costs decreased $26,740 through further refinement of the model. PAG/RTA Fund: Revenues:  Investment income was reduced by $18,000. Roadway Impact Fee Fund: Revenues:  Investment income was increased by $11,000. Expenditures:  Added carryover for impact fee study, increasing O&M by $6,429. Moved out the Rancho Vistoso & Woodburne intersection CIP project to FY 2024/25, which reduced the capital budget by $700,000. Police Impact Fee Fund:  Added carryover for the impact fee study, increasing O&M by $857. Parks and Rec Impact Fee Fund:  Added carryover for the impact fee study, increasing O&M by $3,000. Water Resource Impact Fee Fund: Revenues:  Reduced investment income by $50,000. Expenditures:  O&M was increased by $19,714 due to carryover for the impact fee study. Capital outlay was increased by $2.2 million due to adjustments to the NWRRDS project independent portion. Capital outlay was decreased by $100,000 due to reduced carryover necessary for the Steam Pump Well Equipping CIP project.  Capital Fund: Revenues:  Added RTA reimbursement revenue for MUP Phase II CIP project in the amount of $200,000. Reduced investment income by $100,000. Expenditures:  Personnel costs increased $967 through further refinement of model. Capital outlay costs decreased by $1,398,200 through refinement of project carryover and cost amounts. The net decrease is largely attributable to the following items:  net decrease is largely attributable to the following items:  The Steam Pump Ranch garage project cost was refined, increasing the project budget by approximately $284,000. Removed the F450 4x4 Reg Cab Dump in the amount of $100,000. $260,000 was added for additional carryover for the Traffic Camera Video Recording System and the Coronado Middle School Park pre-fab restroom (Amphi partnership). $1,758,200 was removed across several CIP projects to accurately reflect project costs and revised carry forward amounts. These projects include the Community Center parking lot, the Town Court expansion, Town Hall Data Center migration, the Community Center Elevator project, the Town Hall Emergency Generator project, and Naranja Park improvements. Stormwater Utility Fund: Revenues:  Investment income was reduced by $5,000. Expenditures:  Budgeted personnel costs decreased $7,648 due to refinement of the model. Water Utility Fund: Expenditures:  Refinement of budgeted personnel costs added $4,842. Updated the direct administrative charge for billing software costs, increasing O&M by $40,000. Increased capital by $65,000, adding carryover for the Booster Station Rehabilitation CIP project and removing carryover for a vehicle. A matrix summary of all expenditure changes from the Recommended Budget to the Tentative Budget is shown below:  Changes from Recommended Budget of $147.9M FY 23/24 Manager's Recommended Budget $147,889,221 General Fund Refinement of personnel budget amounts 140,915 Moved Westward Look Drive improvements CIP project to the Grants Fund (ARPA Funded)(845,534) Removed PD - Darkhouse Route management software (10,000) Reduced Court's Arizona Rangers as part-time security position was approved (5,000) Added software subscription for short-term rental monitoring and compliance 15,000 Removed CIP and Transparency Software (20,000) Updated Water Utility billing software cost 40,000 Added capacity for space needs consulting 50,000 Added carryover of Rooney Ranch master plan 35,000 Highway Fund Refinement of personnel budget amounts 2,516 Grants and Contributions Fund DOJ COPS health and wellness grant award increased, increased travel & training 110,000 Moved Westward Look Drive improvements from the General Fund (ARPA Funded)845,534 Added CIP carryover for Pusch Ridge Facility ADA and Code Compliance 133,718 Community Center Fund Refinement of personnel budget amounts (26,740) Water Resource Impact Fee Fund Added carryover for Impact fee study 19,714 NWRRDS (Independent) Shannon Road Booster Station Cip project costs increased 1,600,000 NWRRDS (Independent) Shannon Road Reservoir CIP project costs increased 600,000 Reduced carryover for Steam Pump Well Equipping CIP project (100,000) Roadway Impact Fee Fund Added carryover for Impact fee study 6,429 Moved out the Rancho Vistoso & Woodburne Intersection CIP project to FY 24/25 (700,000) Parks & Recreation Impact Fee Fund Added carryover for Impact fee study 3,000 Police Impact Fee Fund Added carryover for Impact fee study 857 Rec in Lieu Fee Fund Reduced contingency based on revised interest income (200) Capital Fund Refinement of personnel budget amounts 967 Refinement of project carry-forward and cost amounts (1,398,200) Stormwater Utility Fund Refinement of personnel budget amounts (7,648) Water Utility Fund Refinement of personnel budget amounts 4,842 Updated direct admin charge for billing software cost 40,000 Added carryover for Booster Station Rehabilitation CIP project 100,000 Removed carryover for water vehicle (35,000) Total Change 600,170 FY 23/24 Tentative Budget $148,489,391 FISCAL IMPACT: The adopted Tentative Budget for FY 2023/24 sets the Town's expenditure limitation at $148,489,391. SUGGESTED MOTION: This item is for presentation and discussion only. Attachments FY2024 Tentative Budget  10-Year CIP  Staff Presentation  Town of Oro Valley Table of Contents Fiscal year 2024 Resolution for the adoption of the budget Schedule A—Summary Schedule of estimated revenues and expenditures/expenses Schedule B—Tax levy and tax rate information Schedule G—Full-time employees and personnel compensation Schedule C—Revenues other than property taxes Schedule D—Other financing sources/(uses) and interfund transfers Schedule E—Expenditures/expenses by fund Schedule F—Expenditures/expenses by department (as applicable) 3/22 Arizona Auditor General Official City/Town Budget Forms Fiscal yearGeneral FundSpecial Revenue Fund Debt Service FundCapital Projects Fund Permanent FundEnterprise Funds AvailableInternal Service Funds Total all funds2023 Adopted/adjusted budgeted expenditures/expenses* E153,073,483 22,979,140 4,441,059 40,033,234 - 22,912,894 4,264,477 147,704,287 2023 Actual expenditures/expenses** E245,777,577 16,331,553 4,340,559 22,400,337 - 18,854,545 4,218,658 111,923,229 2024Beginning fund balance/(deficit) or net position/(deficit) at July 1*** 322,823,906 2,961,909 207,718 44,974,453 - 13,187,960 2,869,952 87,025,898 2024 Primary property tax levyB4- - 2024 Secondary property tax levy B5- 2024 Estimated revenues other than property taxes C657,487,819 17,656,760 185,146 3,324,938 - 21,082,000 4,289,851 104,026,514 2024 Other financing sources D7- - - - - - - - 2024 Other financing (uses) D8- - - - - - - - 2024 Interfund transfers in D9- 1,638,000 3,902,708 12,880,000 - - - 18,420,708 2024 Interfund Transfers (out) D1012,274,644 1,717,203 - 1,546,553 - 2,882,308 - 18,420,708 2024Line 11: Reduction for fund balance reserved for future budget year expenditures Maintained for future debt retirement- Maintained for future capital projects- Maintained for future financial stability- 2024 Total financial resources available1268,037,081 20,539,466 4,295,572 59,632,838 - 31,387,652 7,159,803 191,052,412 2024Budgeted expenditures/expensesE1355,399,614 20,578,425 4,137,854 40,079,352 - 23,504,295 4,789,851 148,489,391 Expenditure limitation comparison2023 20241Budgeted expenditures/expenses147,704,287$ 148,489,391$ 2Add/subtract: estimated net reconciling items3Budgeted expenditures/expenses adjusted for reconciling items 147,704,287 148,489,391 4Less: estimated exclusions5Amount subject to the expenditure limitation147,704,287$ 148,489,391$ 6EEC expenditure limitation$ $ X******Town of Oro ValleySummary Schedule of estimated revenues and expenditures/expensesFiscal year 2024Includes actual amounts as of the date the proposed budget was prepared, adjusted for estimated activity for the remainder of the fiscal year.Amounts on this line represent beginning fund balance/(deficit) or net position/(deficit) amounts except for nonspendable amounts (e.g., prepaids and inventories) or amounts legally or contractually required to be maintained intact (e.g., principal of a permanent fund).SchFundsIncludes expenditure/expense adjustments approved in the current year from Schedule E. The city/town does not levy property taxes and does not have special assessment districts for which property taxes are levied. Therefore, Schedule B has been omitted.113/22 Arizona Auditor GeneralSchedule AOfficial City/Town Budget Forms Estimated revenues Actual revenues* Estimated revenues 2023 2023 2024 General Fund Local taxes Local Sales Tax $ 24,505,959 $ 26,266,462 $ 25,633,318 Cable Franchise Tax 765,000 765,000 765,000 Licenses and permits Licenses 202,500 200,000 205,000 Permits 1,863,824 2,169,461 1,364,118 Fees 157,500 267,500 148,000 Intergovernmental State/County Shared 17,505,693 18,405,604 22,953,222 State Grants 75,000 90,000 75,000 Federal Grants 380,000 569,000 582,415 Reimbursements 1,613,000 1,600,500 1,869,500 Charges for services Reimbursements 194,400 194,400 194,400 Fees 1,012,932 923,027 1,002,558 Other 1,839,183 1,760,183 2,007,288 Fines and forfeits Fines 125,000 85,000 125,000 Interest on investments Interest Income 150,000 300,000 300,000 Miscellaneous Miscellaneous 249,000 611,900 263,000 Total General Fund $ 50,638,991 $ 54,208,037 $ 57,487,819 * Town of Oro Valley Revenues other than property taxes Fiscal Year 2024 Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. Source of revenues 3/22 Arizona Auditor General Schedule C Official City/Town Budget Forms Estimated revenues Actual revenues* Estimated revenues 2023 2023 2024 Town of Oro Valley Revenues other than property taxes Fiscal Year 2024 Source of revenues Special revenue funds Highway User Revenue Fund Highway User Fuel Tax $ 4,127,100 $ 4,127,100 $ 4,334,608 Permits 25,000 26,500 25,000 Interest Income 8,000 110,000 70,000 Other 3,000 7,825 3,000 $ 4,163,100 $ 4,271,425 $ 4,432,608 Grants and Contributions Fund Federal Grants $ 8,542,000 $ 5,682,000 $ 2,604,300 State Grants 279,047 276,695 223,400 Interest Income 50 25,000 25,000 Miscellaneous 1,500,000 560,000 $ 10,321,097 $ 5,983,695 $ 3,412,700 Services and Forfeitures Seizures and Forfeitures $ 100,000 $ 10,000 $ 100,000 Interest Income 2,000 5,000 3,000 $ 102,000 $ 15,000 $ 103,000 Community Center Fund Local Sales Tax $ 3,477,236 $ 3,714,218 $ 3,726,016 Charges for Services 4,868,049 5,775,940 5,785,386 Interest Income 3,000 35,000 35,000 Other 159,050 173,343 162,050 $ 8,507,335 $ 9,698,501 $ 9,708,452 Total special revenue funds $ 23,093,532 $ 19,968,621 $ 17,656,760 * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. 3/22 Arizona Auditor General Schedule C Official City/Town Budget Forms Estimated revenues Actual revenues* Estimated revenues 2023 2023 2024 Town of Oro Valley Revenues other than property taxes Fiscal Year 2024 Source of revenues Debt service funds Municipal Debt Service Fund Federal Grants $ 30,088 $ 30,088 $ 25,146 Interest Income 500 60,000 60,000 Miscellaneous 100,000 93,082 100,000 $ 130,588 $ 183,170 $ 185,146 Total debt service funds $ 130,588 $ 183,170 $ 185,146 Capital projects funds Water Rescources Development Impact Fee Fund Development Impact Fees $ 1,101,346 $ 1,585,465 $ 903,349 Interest Income 150,000 150,000 150,000 $ 1,251,346 $ 1,735,465 $ 1,053,349 Townwide Roadway Development Impact Fee Fund Development Impact Fees $ 388,300 $ 213,366 $ 286,810 Interest Income 4,000 15,000 15,000 $ 392,300 $ 228,366 $ 301,810 Parks and Recreation Impact Fee Fund Development Impact Fees $ 165,520 $ 129,920 $ 133,280 Interest Income 3,000 4,500 4,500 $ 168,520 $ 134,420 $ 137,780 Police Impact Fee Fund Development Impact Fees $ 57,700 $ 50,061 $ 39,034 Interest Income 500 200 200 $ 58,200 $ 50,261 $ 39,234 Capital Fund Miscellaneous $ 1,020,010 $ 960,010 $ 1,007,540 State Grants 420,000 620,000 Interest Income 25,000 350,000 100,000 $ 1,465,010 $ 1,310,010 $ 1,727,540 PAG/RTA Fund State Grants $ 796,574 $ 796,574 $ 30,000 Other 28,125 28,125 28,125 Interest Income 7,000 7,000 $ 824,699 $ 831,699 $ 65,125 Recreation in Lieu Fee Fund Interest Income $ $ 100 $ 100 $ $ 100 $ 100 Total capital projects funds $ 4,160,075 $ 4,290,321 $ 3,324,938 * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. 3/22 Arizona Auditor General Schedule C Official City/Town Budget Forms Estimated revenues Actual revenues* Estimated revenues 2023 2023 2024 Town of Oro Valley Revenues other than property taxes Fiscal Year 2024 Source of revenues Enterprise funds Water Utility Fund Water Sales $ 15,383,000 $ 14,186,000 $ 16,060,000 Charges for Services 3,224,000 2,962,467 3,200,500 Interest Income 100,000 100,000 100,000 Miscellaneous 135,768 $ 18,707,000 $ 17,384,235 $ 19,360,500 Stormwater Utility Fund Charges for Services $ 1,492,500 $ 1,460,310 $ 1,501,500 Interest Income 1,500 10,000 10,000 Federal Grants 210,000 $ 1,494,000 $ 1,470,310 $ 1,721,500 Total enterprise funds $ 20,201,000 $ 18,854,545 $ 21,082,000 * Internal service funds Benefit Self Insurance Fund Interest Income $ 5,000 $ 20,000 $ 25,000 Miscellaneous 3,759,477 4,198,658 4,264,851 $ 3,764,477 $ 4,218,658 $ 4,289,851 Total internal service funds $ 3,764,477 $ 4,218,658 $ 4,289,851 Total all funds $ 101,988,663 $ 101,723,352 $ 104,026,514 * Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. 3/22 Arizona Auditor General Schedule C Official City/Town Budget Forms Fund Sources (Uses)In (Out) General Fund Transfer to Capital Fund $ $ $ $ 10,000,000 Transfer to Grants Fund 138,000 Transfer to Debt Service Fund 2,136,644 Total General Fund $ $ $ $ 12,274,644 Special revenue funds Grants and Contributions Fund $ $ $ 138,000 $ Community Center Fund 1,717,203 Highway Fund 1,500,000 Total special revenue funds $ $ $ 1,638,000 $ 1,717,203 Debt service funds Municipal Debt Service Fund $ $ $ 3,902,708 $ Total debt service funds $ $ $ 3,902,708 $ Capital projects funds Water Resource Impact Fee Fund $ $ $ 2,880,000 $ Police Impact Fee Fund 46,553 Capital Fund 10,000,000 1,500,000 Total capital projects funds $ $ $ 12,880,000 $ 1,546,553 Enterprise funds Water Utility Fund $ $ $ $ 2,882,308 Total enterprise funds $ $ $ $ 2,882,308 Total all funds $ $ $ 18,420,708 $ 18,420,708 2024 2024 Town of Oro Valley Other financing sources/(uses) and interfund transfers Fiscal year 2024 Other financing Interfund transfers 3/22 Arizona Auditor General Schedule D Official City/Town Budget Forms Adopted budgeted expenditures/ expenses Expenditure/ expense adjustments approved Actual expenditures/ expenses* Budgeted expenditures/ expenses Fund/Department 2023 2023 2023 2024 General Fund Council $ 199,145 $ $ 199,145 $ 209,203 Clerk 422,705 431,246 419,897 Town Manager's Office 1,160,173 189,603 1,270,531 1,638,716 Human Resources 569,905 547,534 590,520 Finance 1,111,460 (189,603) 880,810 850,456 Innovation & Technology 4,797,809 4,486,939 6,271,309 General Administration 4,077,234 3,306,623 2,555,536 Legal 1,015,753 1,023,542 1,132,503 Community & Economic Development 3,280,764 3,064,158 3,882,445 Parks & Recreation 3,775,162 3,699,552 4,664,040 Police 20,403,472 20,089,276 20,410,591 Town Court 1,059,674 959,785 1,010,662 Public Works 6,200,227 5,818,436 6,763,736 Contingency Reserve 5,000,000 5,000,000 Total General Fund $ 53,073,483 $ $ 45,777,577 $ 55,399,614 Special revenue funds Highway User Revenue Fund $ 4,852,189 $ $ 4,604,011 $ 6,668,791 Grants and Contributions Fund 5,841,059 3,193,724 4,769,152 Seizures and Forfeitures 200,000 80,000 200,000 Community Center Fund 12,085,892 8,453,818 8,940,482 Total special revenue funds $ 22,979,140 $ $ 16,331,553 $ 20,578,425 Debt service funds Municipal Debt Service Fund $ 4,441,059 $ $ 4,340,559 $ 4,137,854 Total debt service funds $ 4,441,059 $ $ 4,340,559 $ 4,137,854 Capital projects funds Water Resources Dev Impact Fee Fun $ 3,537,005 $ $ 1,908,291 $ 12,453,300 Townwide Roadway Impact Fee Fund 1,015,000 8,571 306,429 Parks and Recreation Impact Fee Fund 168,520 4,000 788,000 Police Impact Fee Fund 52,000 1,143 50,857 Recreation in Lieu Fee Fund 16,560 16,610 Capital Fund 33,935,575 19,273,708 25,876,156 PAG/RTA Fund 1,308,574 1,204,624 588,000 Total capital projects funds $ 40,033,234 $ $ 22,400,337 $ 40,079,352 Enterprise funds Water Utility Enterprise Fund $ 20,555,870 $ $ 17,384,235 $ 21,431,834 Stormwater Utility Enterprise Fund 2,357,024 1,470,310 2,072,461 Total enterprise funds $ 22,912,894 $ $ 18,854,545 $ 23,504,295 Internal service funds Benefit Self Insurance Fund $ 4,264,477 $ $ 4,218,658 $ 4,789,851 Total internal service funds $ 4,264,477 $ $ 4,218,658 $ 4,789,851 Total all funds $ 147,704,287 $ $ 111,923,229 $ 148,489,391 * Expenditures/expenses by fund Fiscal year 2024 Town of Oro Valley Includes actual expenditures/expenses recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated expenditures/expenses for the remainder of the fiscal year. 3/22 Arizona Auditor General Schedule E Official City/Town Budget Forms Adopted budgeted expenditures/ expenses Expenditure/ expense adjustments approved Actual expenditures/ expenses* Budgeted expenditures/ expenses 2023 2023 2023 2024 Council General Fund $ 199,145 $ $ 199,145 $ 209,203 Department total $ 199,145 $ $ 199,145 $ 209,203 Clerk General Fund $ 422,705 $ $ 431,246 $ 419,897 Department total $ 422,705 $ $ 431,246 $ 419,897 Town Manager General Fund $ 1,160,173 $ 189,603 $ 1,270,531 $ 1,638,716 Department total $ 1,160,173 $ 189,603 $ 1,270,531 $ 1,638,716 Human Resources General Fund $ 569,905 $ $ 547,534 $ 590,520 Department total $ 569,905 $ $ 547,534 $ 590,520 Finance General Fund $ 1,111,460 $ (189,603) $ 880,810 $ 850,456 Department total $ 1,111,460 $(189,603)$ 880,810 $ 850,456 Innovation and Technology General Fund $ 4,797,809 $ $ 4,486,939 $ 6,271,309 Department total $ 4,797,809 $ $ 4,486,939 $ 6,271,309 General Administration General Fund $ 4,077,234 $ $ 3,306,623 $ 2,555,536 General Fund - Contingency Reserve 5,000,000 5,000,000 Grants & Contributions Fund 5,310,000 1,900,000 1,100,000 Municipal Debt Service Fund 4,441,059 4,340,559 4,137,854 Benefits Self Insurance Fund 4,264,477 4,218,658 4,789,851 Capital Fund 33,673,613 19,033,018 25,621,391 Department total $ 56,766,383 $ $ 32,798,858 $ 43,204,632 Legal General Fund $ 1,015,753 $ $ 1,023,542 $ 1,132,503 Department total $ 1,015,753 $ $ 1,023,542 $ 1,132,503 Community and Economic Development General Fund $ 3,280,764 $ $ 3,064,158 $ 3,882,445 Department total $ 3,280,764 $ $ 3,064,158 $ 3,882,445 Parks and Recreation General Fund $ 3,775,162 $ $ 3,699,552 $ 4,664,040 Grants & Contributions Fund 40,000 2,382,665 673,718 Parks & Recreation Impact Fee Fund 168,520 4,000 788,000 Recreation in Lieu Fee Fund 16,560 16,610 Community Center Fund 12,085,892 8,453,818 8,940,482 Department total $ 16,086,134 $ $ 14,540,035 $ 15,082,850 Police General Fund $ 20,403,472 $ $ 20,089,276 $ 20,410,591 Grants & Contributions Fund 353,750 353,750 490,500 Seizures and Forfeitures 200,000 80,000 200,000 Police Impact Fee Fund 52,000 1,143 50,857 Department total $ 21,009,222 $ $ 20,524,169 $ 21,151,948 Town Court General Fund $ 1,059,674 $ $ 959,785 $ 1,010,662 Department total $ 1,059,674 $ $ 959,785 $ 1,010,662 Public Works General Fund $ 6,200,227 $ $ 5,818,436 $ 6,763,736 Grants & Contributions Fund 137,309 137,309 2,504,934 Highway Fund 4,852,189 4,604,011 6,668,791 Stormwater Utility Fund 2,357,024 1,470,310 2,072,461 PAG/RTA Fund 1,308,574 1,204,624 588,000 Townwide Roadway Impact Fee Fund 1,015,000 8,571 306,429 Capital Fund 261,962 240,690 254,765 Department total $ 16,132,285 $ $ 13,483,951 $ 19,159,116 Water Utility Water Utility Fund $ 20,555,870 $ $ 17,384,235 $ 21,431,834 Water Resources Dev Impact Fee Fund 3,537,005 1,908,291 12,453,300 Department total $ 24,092,875 $ $ 19,292,526 $ 33,885,134 * Expenditures/expenses by department Fiscal year 2024 Town of Oro Valley Includes actual expenditures/expenses recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated expenditures/expenses for the remainder of the fiscal year. Department/Fund 3/22 Arizona Auditor General Schedule F Official City/Town Budget Forms Full-time equivalent (FTE)Employee salaries and hourly costs Retirement costs Healthcare costs Other benefit costsTotal estimated personnel compensation2024 2024 2024 2024 2024 2024336.48 $ 24,702,366 $ 5,429,247 $ 2,894,301 $ 2,626,346 $ 35,652,260Highway Fund 12.00 $ 956,185 $ 117,515 $ 91,346 $ 97,815 $ 1,262,861Community Center Fund 23.02 969,516 32,734 29,376 83,013 1,114,639Total special revenue funds35.02 $ 1,925,701 $ 150,249 $ 120,722 $ 180,828 $ 2,377,500Capital Fund 2.00 $ 196,040 $ 24,093 $ 19,252 $ 15,380 $ 254,765Total capital projects funds2.00 $ 196,040 $ 24,093 $ 19,252 $ 15,380 $ 254,765Water Utility Fund 40.48 $ 2,816,940 $ 343,444 $ 436,032 $ 274,393 $ 3,870,809Stormwater Utility Fund 9.73 704,729 84,533 84,744 73,296 947,302Total enterprise funds50.21 $ 3,521,669 $ 427,977 $ 520,776 $ 347,689 $ 4,818,111Total all funds423.71 $ 30,345,776 $ 6,031,566 $ 3,555,051 $ 3,170,243 $ 43,102,636FundTown of Oro ValleyFull-time employees and personnel compensationFiscal year 2024General FundSpecial revenue fundsCapital projects fundsEnterprise funds3/22 Arizona Auditor General Schedule G Official City/Towns Budget Forms Town of Oro Valley 10-Year Capital Improvement Program - Tentative BudgetCIP Project Listing by Category* Denotes a project with carryforward funding from the prior yearFY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 FY 29/30 FY 30/31 FY 31/32 FY 32/33 Grand TotalParks & Recreation4,373,579 1,521,300 4,172,660 4,470,000 6,602,800 4,635,000 9,300,000 4,954,0001,856,000 100,000 41,985,339ADA/Safety Walkway Concrete Improvements System Wide 150,000150,000Artificial Turf Installation at Community Center Entrance 82,50082,500Audio System Update 115,000115,000Canada Golf Course Pathway Improvements 550,000550,000CC Men's Jacuzzi to Outdoor Accessed Restroom 285,000285,000Cloud Lake Sediment Dredging85,00085,000Community Center Elevator* 1,612,8611,612,861Community Center Exterior Stucco repair and Painting 183,300183,300Community Center Fire Alarm System Upgrade* 75,00075,000Community Center Flat Roof Surface Replacement 198,000200,000 200,000 200,000 200,000998,000Community Center Parking Lot Reconfigure/Resurface - Bond VE 1,400,0001,400,000CRC Fitness Exterior Window Replacement 100,000100,000CRC Pool Deck and Equipment Renovation100,000100,000CRC Renovation and Construction600,000 3,000,000 3,000,0006,600,000CRC Restaurant Cooler/Freezer Modernization and Floor Repair 65,00065,000Equipment Replacement (Golf Maintenance) 145,000 81,500226,500Event space with shade at CRC tennis/pickleball courts 195,660195,660Golf John Deere Tractor Replacement 110,000110,000Golf Maintenance - Parking Lot Reconstruction 300,000300,000Golf Maintenance Facility Siding Replacement and Exterior Painting 63,00063,000Greenmaster Mowers Replacement 125,000125,000Greenock Trail Improvements* 15,00015,000Improved Landscape and Gathering Area at Aquatic Center 330,000330,000James D. Kriegh Park - Egleston Road Connection Parking lot 60,000 750,000810,000James D. Kriegh Park - North Area Improvements78,000 975,0001,053,000James D. Kriegh Park - North Parking Lot Improvements 375,000375,000James D. Kriegh Park - Racquetball/Basketball Court Conversion 22,800 285,000 250,000557,800James D. Kriegh Park Field Lighting 30,000 1,500,0001,530,000Life Cycle Replacement (Bunkers and Turf Reduction) 100,000100,000MUP - Phase III – Alignment (CDO wash to James D. Kriegh Park)1,500,0001,500,000MUP Big Wash Trailhead Improvements250,000250,000Naranja Park Splashpad, Restroom and Ramada Bond VE1,500,0001,500,000Naranja Park Archery Range - Paved Parking, Lights, Landscape44,000 550,000594,000Naranja Park Asphalt Parking Lot, Roadway and MUP Bond Project VE4,000,0004,000,000Naranja Park Basketball Courts Bond VE250,000250,000Naranja Park Entry Site Improvements 36,000 450,000486,000Naranja Park Fields 7 & 8 - Park Bond Project VE1,900,0001,900,000Naranja Park Maintenance Facility1,200,0001,200,000Naranja Park Pickleball Courts (3) and Shade Structure330,000330,000Naranja Park Ramadas250,000250,000Naranja Park Skate Park expansion Park Bond Project VE250,000250,000OVAC Diving Board and Dive Block Replacement136,000136,000 Town of Oro Valley 10-Year Capital Improvement Program - Tentative BudgetCIP Project Listing by Category* Denotes a project with carryforward funding from the prior yearFY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 FY 29/30 FY 30/31 FY 31/32 FY 32/33 Grand TotalParks & Recreation (continued)OVAC Olympic Pool Heater Replacement500,000500,000OVAC Pool Replastering200,000200,000OVAC Pump Room Upgrades - Phase Two 78,000 112,000190,000Parks Maintenance Toro Reelmaster Mower Replacement 85,00085,000Proctor/Lieber House Renovation1,500,0001,500,000Pusch Ridge Facility ADA and Code Compliance* 418,718 85,000503,718Pusch Ridge Golf Course Improvements 75,00075,000Pusch Ridge Golf Course Pathway Bank Protection Improvements 300,000300,000Pusch Ridge Golf Course Pavement Preservation 275,000275,000Pusch Ridge Tennis Court Lighting Replacement300,000300,000Pusch Ridge Tennis Court Resurfacing120,000120,000Pusch Ridge Tennis Landscape Improvements250,000250,000Pusch Ridge Tennis Renovations Bleachers/Pad/Storage 100,000100,000Riverfront Park - Field Lighting Replacement1,000,0001,000,000Riverfront Park - Parking Lot Expansion60,000 750,000810,000Riverfront Park - Playground Renovation500,000500,000Riverfront Park - ramada over sports courts22,000 275,000297,000Steam Pump Ranch - New Northern Entry by Panhandle Stables/Event Space1,500,0001,500,000Steam Pump Ranch - Solar Lighting 71,00071,000Steam Pump Ranch - Tack Building 50,000 500,000550,000Steam Pump Ranch BBQ & Bunk House Renovations* 500,000500,000Steam Pump Ranch Farmer's Market Structure Upgrade 100,000100,000Vistoso Trails Nature Preserve ADA Restrooms 75,00075,000Vistoso Trails Nature Preserve Improvements* 255,000100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,0001,155,000Vistoso Trails NP Maintenance Facility Roof Repair and Security 190,000190,000Parks & Recreation - Bond Projects17,067,51017,067,510CC Parking Lot Reconstruction & Expansion* 600,000600,000Golf Course Irrigation Phase 2 (Cañada Course) 2,000,0002,000,000MUP – Phase I - La Cañada Dr. (Lambert Lane to Naranja Dr)* 677,590677,590MUP – Phase II - Naranja Dr. (La Cañada Dr to 1st Ave)* 200,000200,000Naranja Park Master Plan Implementation* 13,600,00013,600,000Public Facilities, Vehicles & Equipment6,388,020 5,776,000 3,257,5003,738,500 3,256,000 3,101,500 3,311,000 3,023,000 3,183,500 3,515,500 38,550,520680 Fuel Station Renovation 55,000 450,000505,000680 Maintenance Yard Back-up Generator 50,000 500,000550,000680 Renovation for removal of Fleet and Ops - adding P&R220,000220,000Administration Building Efficiency Renovation 50,000 500,000550,000CEDPW Building D File Room to Conference Room Renovation 20,000 150,000170,000Coronado Middle School Park Pre-Fab Restroom - Amphi Partnership* 217,200217,200Equipment Replacement Program 648,000 289,500260,500 368,000 418,500 403,000 204,000 178,500 178,5002,948,500F450 4X4 Reg Cab Dump 100,000100,000Facility Maintenance Program 362,000 493,000 508,000 524,000 540,000 557,000 574,000 592,000 610,000 629,0005,389,000Fuel Management Software (Gasboy Replacement) 70,00070,000 Town of Oro Valley 10-Year Capital Improvement Program - Tentative BudgetCIP Project Listing by Category* Denotes a project with carryforward funding from the prior yearFY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 FY 29/30 FY 30/31 FY 31/32 FY 32/33 Grand TotalPublic Facilities, Vehicles & Equipment (continued)MOC Decommissioning50,00050,000MOC Perimeter Fence & Entry Gate 30,000 450,000480,000MOC Water and Transit flat roof surface replacement70,00070,000Network Storage 60,000 50,000 50,000160,000PD Main Town Hall, Building F, Locker Room Remodel 40,000 375,000415,000Phone System Refresh* 300,000300,000600,000Public Works Operations Laydown Yard* 200,000200,000Server OS Refresh60,000 60,000120,000Town Court Expansion* 1,629,899 1,500,0003,129,899Town Hall Admin Building A, Remodel I&T area 50,000 335,000 115,000500,000Town Hall Data Center Migration* 21,33721,337Town Hall Emergency Generator Replacements* 364,384364,384Town Hall, Building A, Elevator System Modernization 75,00075,000Town-Wide Drainage Study100,000100,000Traffic Camera Video Recording System* 110,000110,000Upgrade Desktop Operating Systems 200,000 200,000400,000Vehicle Replacement Program* 2,818,200 1,640,000 1,760,000 1,844,000 1,893,000 2,026,000 2,084,0002,227,000 2,335,000 2,408,00021,035,200Public Safety80,000 4,000,000 18,000,000 18,000,00040,080,000Future Police Station 4,000,000 18,000,000 18,000,00040,000,000Storage for Digital Forensics 80,00080,000Stormwater365,000 386,445 650,000 1,401,445Mutterer's Wash Bank Improvements500,000500,000Public Storm Sewer Survey and Assessment150,000150,000Sierra Wash @ Glover Road Culvert and Apron Rehabilitation 386,445386,445Sierra Wash at Via Mandarina Drainage Improvements 365,000365,000Streets/Roads5,427,534 10,483,870 19,537,6639,994,358 27,885,432 20,203,621 3,781,634 18,410,514 11,200,207 3,264,857 130,189,689First Ave. Mill & Overlay (CDO Bridge to SR77) 250,000250,000First Ave. Mill & Overlay (CDO Bridge to Tangerine Rd.) 1,695,0001,695,000First Avenue Bridge Deck Repair 2,661,4242,661,424Illuminated Street Signs60,500 62,315122,815La Cañada Bridge Deck Repair 7,657,8007,657,800La Cañada Dr & Tangerine Rd Intersection - Mill & Overlay 305,000305,000La Cañada Drive Mill/Overlay - CDO Bridge to Lambert Lane 1,081,0001,081,000La Cañada Drive Phase III (Naranja Dr. to Tangerine Rd.) 678,000678,000La Canada Traffic Signal - Street Improvements (near Lehman Academy) 600,000600,000Lambert Lane Reconstruction (La Cholla to west Town Limits) 388,000388,000Lambert Lane Widening (Shannon Rd to Rancho Sonora Dr)17,246,00017,246,000Linda Vista Blvd Safety (Calle Buena Vista to Oracle Rd)3,121,0003,121,000Moore Rd La Cholla Blvd Intersection 500,000 1,700,0002,200,000Moore Road Widen (La Cholla Blvd to La Cañada Drive)9,417,0009,417,000Naranja Dr. Widening ( La Cholla Bl. to 1st Ave.)3,394,0003,394,000Oracle Rd & Rams Field Intersection750,000750,000 Town of Oro Valley 10-Year Capital Improvement Program - Tentative BudgetCIP Project Listing by Category* Denotes a project with carryforward funding from the prior yearFY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 FY 29/30 FY 30/31 FY 31/32 FY 32/33 Grand TotalStreets/Roads (continued)Palisades Road Widening (1st Ave to 1 mile east)5,886,0005,886,000Pavement Preservation - Non Roadways 114,000 116,850 119,800 122,800 125,900 129,100 132,400 135,800 139,200 142,7001,278,550Pavement Preservation - Roadways 2,500,000 2,562,500 2,626,563 2,692,227 2,759,532 2,828,521 2,899,234 2,971,714 3,046,007 3,122,15728,008,454Pomegranate Drive - Drainage Improvement and Roadway Stabilization 183,420183,420Rancho Vistoso & Woodburne Intersection 750,000750,000Rancho Vistoso Blvd Bridge Deck Repair4,079,0164,079,016Rancho Vistoso Blvd Mill/Overlay (Moore Rd to Tangerine Rd)1,500,0001,500,000Rancho Vistoso Bridge Deck Repair over Honeybee Wash 1,336,6761,336,676RV Blvd Mill /Overlay - Vistoso Highland to Honey Bee Bridge 1,025,0001,025,000RV Blvd Mill/Overlay - Honey Bee Wash Bridge to Green Tree Drive 2,034,0002,034,000Shannon Road Widening - Lambert Lane to Tangerine Road 25,000,00025,000,000Sun City Light Circuit #3438,000438,000Tangerine Rd. Bridge Deck Repair over Big Wash 3,658,0003,658,000Tangerine Road Mill/Overlay (La Cañada Dr. to Oracle Rd.) 2,600,0002,600,000Westward Look Drive Improvements* 845,534845,534Water System14,069,792 6,320,000 10,580,0008,600,000 5,350,000 1,360,000 1,360,000 1,160,000 1,160,000 1,360,000 51,319,792Big Wash Building Improvements 100,000100,000Booster Station HP Tank Replacement 150,000 170,000 170,000 170,000 170,000 170,000 170,000 170,000 170,000 170,0001,680,000Booster Station Rehabilitation* 300,000 590,000 50,000 50,000 240,000 250,000 250,000 50,000 50,000 250,0002,080,000Control Systems - SCADA 200,000 200,000500,000 500,000 700,000 200,000200,000 200,000 200,000 200,0003,100,000Countryside Wheeling Station 300,000300,000El Con/El Camino Diestro main and valve replacement 150,000150,000La Canada Booster Station Expansion 3,700,0003,700,000La Canada Main Replacement on Southbound Lanes across from Golf Maintenance250,000250,000La Posada Well Equipping* 600,000600,000NWRRDS (Independent) Booster Station at Partnered Reservoir 1,000,000 1,000,0002,000,000NWRRDS (Independent) E-Zone main interconnect to Tangerine 810,000 90,000900,000NWRRDS (Independent) E-Zone main interconnection to Naranja 360,000 40,000400,000NWRRDS (Independent) Pipeline from Partnered Reservoir to Shannon Rd. Reservoir) 4,000,000 4,000,000 2,000,00010,000,000NWRRDS (Independent) Shannon Road Booster Station* 2,800,000 1,000,0003,800,000NWRRDS (Independent) Shannon Road Reservoir 1,400,000 300,0001,700,000NWRRDS (Partnered) Forebay, reservoir construction 3,000,000 2,000,0005,000,000NWRRDS (Partnered) Pipeline construction (recovered water & Transmission) 2,100,000 1,050,000 1,000,0004,150,000NWRRDS (Partnered) Well Equipping, TRICO power to sites and associated tasks 1,200,000 400,0001,600,000Palisades Area Supply Redundancy 250,000250,000Reservoir Relining 100,000 200,000 200,000200,000 200,000 200,000 200,000 200,000 200,000 200,0001,900,000Steam Pump Well Equipping* 450,000450,000Water Meters- New Connections (based on 210 meters per year) 169,792 150,000 150,000 150,000150,000 150,000 150,000 150,000 150,000 150,0001,519,792Well D-8 Replacement (Design/Permit/Construction/ Equipping) 690,000 690,000 500,0001,880,000Well HP Tank Replacement 150,000 170,000170,000 170,000 170,000 170,000170,000 170,000 170,000 170,0001,680,000Well Rehabilitation 150,000 220,000 220,000 220,000 220,000 220,000 220,000 220,000 220,000 220,0002,130,000Grand Total47,771,435 28,101,170 55,934,26844,802,858 43,744,232 29,300,121 17,752,634 27,547,514 17,399,707 8,240,357 320,594,295 FY 2023/24 Tentative Budget Adoption June 7, 2023 FY 2023/24 TENTATIVE BUDGET Tentative Budget totals $148,489,391 $600K increase from the Recommended Budget $785K, or 0.5%, increase from FY 2022/23 Adopted Budget FY2023/24 expenditure limitation calculated by Economic Estimates Commission -$165,078,676 Tentative Budget brings forward all changes from Manager’s Recommended Budget as outlined in the Council communication, including updated and revised CIP budget figures If approved, Tentative Budget establishes the overall expenditure limitation Structurally balanced budget reflects the careful allocation of available resources FY 2023/24 SOURCES: $148.5M FY 2023/24 EXPENDITURES: $148.5M FY 2023/24 CAPITAL IMPROVEMENT PROGRAM (CIP): $47.8M FY 2023/24 GENERAL FUND OVERVIEW * Excludes budgeted contingency of $5.0M FINAL NOTES AND NEXT STEPS Tentative Budget adoption sets the maximum spending ceiling at $148,489,391 Once approved, expenditure authority may only be reallocated or reduced Council has authority to amend budget throughout the fiscal year (but cannot increase expenditure authority) Publish Tentative Budget for two consecutive weeks Final Budget approval and public hearing set for June 21st regular session Questions?    Budget and Finance Commission 5. Meeting Date:06/20/2023   Submitted By:Michelle Stine, Town Clerk's Office SUBJECT: *PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 22/23 FINANCIAL UPDATE THROUGH APRIL 2023 (Please reference attachments) RECOMMENDATION: N/A EXECUTIVE SUMMARY: Please reference attachments. BACKGROUND OR DETAILED INFORMATION: Please reference attachments. FISCAL IMPACT: N/A SUGGESTED MOTION: N/A Attachments Council Memo - April 2023 Financial Update  Attachment A - General Fund  Attachment B - Highway Fund  Attachment C-1 - Community Center Fund  Attachment C-2 Golf Contractor P&L  Attachment D - Summary All Funds  Attachment E - Gen Fund Local Sales Tax  Attachment F - Gen Fund State Shared Revenues  Town Manager’s Office TOWN COUNCIL REPORT DATE: June 15, 2023 TO: Mayor and Council THRU: Jeff Wilkins, Town Manager FROM: David Gephart, Chief Financial Officer SUBJECT: April 2023 Financial Update This financial update is intended to provide an overview and status of financial results for the Town’s selected funds through April 2023 for fiscal year 2022/23. Funds included in this financial update are the General Fund, Highway Fund and Community Center Fund. Please note that all amounts are preliminary, un-audited and subject to change. Additionally, estimates reflected in monthly financial updates may not include any adjusting audit entries required at year-end. EXECUTIVE SUMMARY: Revenues and expenditures continue to perform well compared to budget. Further details are as follows: General Fund In the General Fund (see attachment A), revenues total $45.4 million or 89.4% of budget, while uses are at $47.1 million or 72.9% of the total budget. Highway Fund In the Highway Fund (see attachment B), revenues total $3.6 million or 85.4% of budget, while expenditures total $3.5 million or 75.6% of budget. Community Center Fund In the Community Center Fund (see attachment C-1 & C-2), revenues total $8.8 million or 103.2% of budget, while uses total $8.8 million or 66.9% of budget. BACKGROUND AND DETAILED INFORMATION: GENERAL FUND Attachment A shows General Fund revenues and expenditures through April, other financing uses and year-end estimates for each category. The estimated year-end projections in the General Fund are as follows: Revenues: $54,662,225 Less: Expenditures: ($45,786,599) Other Financing Uses ($15,996,977) Preliminary Estimated Decrease in Fund Balance: ($7,121,350)* *The estimated decrease in fund balance is due to a budgeted transfer of $13.5 million of fund balance to the Capital Fund for CIP projects. General Fund Revenues  Local sales tax collections in the General Fund total $22.6 million or 89.4% of the budgeted amount of $25.3 million and are performing better than anticipated. Retail collections total $7.6 million, which is $177,030 or 2.4% higher than the same time period last fiscal year. Restaurant/bar collections total $2.2 million which is $240,054 or 12.1% higher than the same time period last fiscal year. Bed tax collections total $2 million which is $72,000 or 3.7% more than the same time period last fiscal year. Construction sales tax collections total $4.7 million through April, which is $1.1 million or 18.5% less than collections from the same time period last fiscal year. Note that the budgeted decrease for construction sales tax was 24%. Total local sales tax revenue in the General Fund is expected to come in nearly $2.1 million above budget due to strong performance across most tax categories. Please see attachment E for detailed information on General Fund local sales tax collections.  License and permit revenues total $2.3 million or 105.1% of the budget amount of $2.2 million. A total of 100 Single Family Residential (SFR) permits have been issued through April. License and permit revenues are expected to come in $413,000 over budget, due primarily to revised permitting estimates from expected commercial development activity.  State shared revenues total $15.6 million or 88.9% of the budget amount of $17.6 million. These revenue sources are comprised of state shared sales taxes, state shared income taxes, auto-lieu fees, Smart and Safe shared taxes, and an opioid settlement. At this time, these revenues are forecasted to come in $891,000 over budget due to higher-than-expected state sales tax collections.  Charges for services revenues total $2.3 million or 74.3% of the budget amount of $3.0 million. Cost allocation charges to the Town’s enterprise funds for services provided, as well as Parks & Recreation fees, make up the bulk of this revenue category. Charges for services are forecasted to come in about $102,000 under budget. This is due mainly to farebox revenues as a result of fee waivers, as well as swimming pool user fees as a result of facility closures for needed capital improvements.  Miscellaneous revenues are forecasted to come in about $363,000 over budget due primarily to a rebate received from the Arizona Municipal Risk Retention Pool (AMRRP). General Fund Uses  General Fund expenditures total $36 million or 74.9% of budget through April.  Please note that the $885,000 Vistoso Trails Nature Preserve settlement payment is included in the actuals and year-end estimates for General Administration. Other areas of expenditure savings in the fund are forecasted to make up for the payment.  Personnel costs are forecasted to come in about $1.5 million or 4.3% less than budget, due to a combination of vacancy savings, position refills and budgeted PSPRS contributions for DROP participants. Other forecasted savings in the General Fund include gasoline, software maintenance/licensing, telecommunications, field supplies and outside professional services.  Transfers out of the General Fund are expected to end the fiscal year $450,000 under budget as a grant for fiber infrastructure with matching local funds was not awarded. Note that actuals through April reflect the budgeted transfer to debt service and 2/3 of the budgeted transfer to the Capital Fund for CIP. The General Fund is expected to end the fiscal year with a total fund balance of $23.3 million, or 48.4% of budgeted expenditures, exceeding Council policy by $8.8 million. HIGHWAY FUND Highway Fund Revenues  State shared highway user funds total $3.4 million or 82.9% of the budget amount of $4.1 million. These revenues are projected to come in on budget at this time.  Interest income is expected to come in at a favorable budget variance of $102,000.  Road permit revenue is expected to come in at a favorable budget variance of $1,500.  Other minor revenue sources in the Highway Fund are expected to come in at a favorable budget variance of $4,825 or 0.1% due to a vendor refund of prior year invoice credits that was owed to the Town and insurance recoveries. Highway Fund Expenditures  Highway Fund expenditures though April are at $3.5 million or 75.6% of the adopted budget of $4.7 million. Highway Fund expenditures are projected to come slightly under budget at this time due to O&M savings. The Highway Fund is expected to end the fiscal year with a fund balance of $874,400. COMMUNITY CENTER FUND Attachment C-1 shows the consolidated financial status of the Community Center Fund with all revenues and expenditures from contracted and Town-managed operations. Attachment C-2 shows the monthly line-item detail for the contractor-managed operations, specifically revenues and expenditures associated with golf, and food and beverage operations. The totals in the revenue and expenditure categories in attachment C-2 tie to the contracted operating revenues and expenditures in attachment C-1. Community Center Fund Revenues  Revenues in the Community Center Fund through April total $8.8 million or 103.2% of the budget amount of $8.5 million.  Contracted operating revenues total $4.4 million as of April, which is about $246,000 or 6% more than the same time last fiscal year. This increase is due to higher memberships and food & beverage sales. As of now, these revenues are estimated to come in about $571,000 or 14.3% over budget.  Town operating revenues for April are $1.1 million or 122.7% of the budget amount of $887,800. Town operating revenues are expected to end the fiscal year about $317,700 higher than budget due mainly to recreation programs. Member dues, daily drop-ins and facility rental income are also expected to exceed budget expectations.  Local sales tax revenues for April total $3.1 million or 88.3% of the budget amount of $3.5 million. These collections are currently projected to come in $237,000 or 6.8% over budget, due to positive trends in retail, remote seller, and restaurant/bar collections.  Real property rental income is related to leased space for cellular equipment on the roof of the Community Center. This is the final payment for the lease agreement. Community Center Fund Uses  Expenditures in the Community Center Fund total $6.8 million or 74.7% of the budgeted amount of $9.1 million.  Contracted operating expenditures total $3.9 million, or 82.2% of the budgeted amount of $4.7 million. Contracted expenditures are currently estimated to come in about $34,000 or 0.7% below budget due mainly to savings in water use.  Town operating expenditures are currently estimated to come in approximately $213,000 over budget due to personnel cost increases from full implementation of the new pay plan earlier in the year, as well as the Vistoso Trails Nature Preserve master plan consulting costs, which were budgeted as capital outlay.  The year-end estimate for capital outlay reflects projected rollover of several CIP projects, as well as an adjustment for the Vistoso Trails Nature Preserve master plan consulting costs, as referenced above.  Transfers out are expected to end the year $2.0 million, or 49.5% higher than budget, due to the Council directive to transfer all fund balance in excess of $1 million to the Capital Fund to be used for the golf irrigation project. Note that actuals through April reflect the budgeted transfer out to debt service.  At this time, the Community Center Fund is projected to end the fiscal year with a total fund balance of $1 million. The Town is not expecting any sales tax support for golf operations for the current fiscal year. Contracted golf operations have a preliminary net loss of $139,034 before outside HOA contributions of $159,050, and local sales taxes generated from golf related operations through April are approximately $108,186. Please see attachments A and B for additional details on the General Fund and Highway Fund. See attachments C-1 and C-2 for additional details on the Community Center Fund. See attachment D for a fiscal year-to-date consolidated summary of all Town Funds. See attachment E and F for a breakdown of monthly local sales tax collections and state shared revenue collections for the General Fund. ATTACHMENT A April YTD Financial Status General Fund % Budget Completion through April --- 83.33% Actuals thru 4/2023 Budget % Actuals to Budget Year End Estimate * YE % Variance to Budget Revenues ` Local Sales Tax 22,599,621 25,270,959 89.4% 27,327,534 8.1% Licenses & Permits 2,337,651 2,223,824 105.1% 2,636,961 18.6% Federal Grants 413,807 380,000 108.9% 569,000 49.7% State Grants 61,976 75,000 82.6% 90,000 20.0% State/County Shared 15,648,004 17,605,693 88.9% 18,496,724 5.1% Other Intergovernmental 1,238,344 1,613,000 76.8% 1,600,500 -0.8% Charges For Services 2,263,338 3,046,515 74.3% 2,944,606 -3.3% Fines 72,075 125,000 57.7% 85,000 -32.0% Interest Income 247,396 150,000 164.9% 300,000 100.0% Miscellaneous 479,608 249,000 192.6% 611,900 145.7% Total Revenues 45,361,820 50,738,991 89.4% 54,662,225 7.7% Expenditures Clerk 347,751 422,705 82.3% 431,246 2.0% Community & Econ. Dev. 2,489,491 3,280,764 75.9% 3,064,158 -6.6% Council 177,095 199,145 88.9% 199,145 0.0% Finance 736,453 921,857 79.9% 880,810 -4.5% General Administration 2,695,688 4,077,234 66.1% 3,306,623 -18.9% Human Resources 444,733 569,905 78.0% 547,534 -3.9% Innovation & Technology 3,712,090 4,797,809 77.4% 4,486,939 -6.5% Legal 819,347 1,015,753 80.7% 1,023,542 0.8% Manager 997,243 1,349,776 73.9% 1,279,552 -5.2% Parks & Recreation 2,860,192 3,775,162 75.8% 3,699,552 -2.0% Police 15,379,199 20,403,472 75.4% 20,089,276 -1.5% Public Works 4,590,928 6,200,227 74.0% 5,818,436 -6.2% Town Court 765,093 1,059,674 72.2% 959,785 -9.4% Total Expenditures 36,015,304 48,073,483 74.9% 45,786,599 -4.8% Revenues Over/(Under) Expenditures 9,346,516 2,665,508 8,875,627 Other Financing Sources/(Uses) Transfers In - - na - na Transfers Out (11,048,965) (16,446,977) 67.2% (15,996,977) -2.7% Total Other Financing Sources/(Uses) (11,048,965) (16,446,977) 67.2% (15,996,977) -2.7% Net Change in Fund Balance (13,781,469) (7,121,350) Beginning Fund Balance 30,390,425 Ending Fund Balance **23,269,074 * Year-end estimates are subject to further revision ** Ending fund balance amounts are estimates and are subject to further revision FY 2022/2023 ATTACHMENT B April YTD Financial Status FY 2022/2023 Highway Fund % Budget Completion through April --- 83.33% Actuals thru 4/2023 Budget % Actuals to Budget Year End Estimate * YE % Variance to Budget Revenues Licenses & Permits 23,003 25,000 92.0% 26,500 6.0% State/County Shared 3,421,275 4,127,100 82.9% 4,127,100 0.0% Interest Income 103,569 8,000 1294.6% 110,000 1275.0% Miscellaneous 7,671 3,000 255.7% 7,825 160.8% Total Revenues 3,555,518 4,163,100 85.4% 4,271,425 2.6% Expenditures Transportation Engineering 3,128,970 4,192,089 74.6% 4,144,195 -1.1% Street Maintenance 387,022 460,100 84.1% 459,816 -0.1% Total Expenditures 3,515,991 4,652,189 75.6% 4,604,011 -1.0% Revenues Over/(Under) Expenditures 39,527 (489,089) (332,586) Other Financing Sources/(Uses) Transfers In - - na - na Transfers Out - - na - na Total Other Financing Sources/(Uses) - - na - na Net Change in Fund Balance (489,089) (332,586) Beginning Fund Balance 1,206,986 Ending Fund Balance **874,400 * Year-end estimates are subject to further revision ** Ending fund balance amounts are estimates and are subject to further revision ATTACHMENT C-1 April YTD Financial Status Community Center Fund % Budget Completion through April --- 83.33% Actuals thru 4/2023 Budget % Actuals to Budget Year End Estimate * YE % Variance to Budget Revenues Contracted Operating Revenues Golf Revenues, Trail and Cart Fees 2,249,710 2,060,519 109.2% 2,274,702 10.4% Member Dues 1,161,190 1,102,500 105.3% 1,222,244 10.9% Food & Beverage 642,690 546,350 117.6% 684,292 25.2% Merchandise & Other 341,459 270,780 126.1% 369,700 36.5% Subtotal 4,395,049 3,980,149 110.4% 4,550,938 14.3% Town Operating Revenues Daily Drop-Ins 44,480 30,000 148.3% 50,500 68.3% Member Dues 602,570 620,500 97.1% 670,000 8.0% Recreation Programs 370,591 170,000 218.0% 405,000 138.2% Facility Rental Income 71,258 67,300 105.9% 80,000 18.9% Subtotal 1,088,899 887,800 122.7% 1,205,500 35.8% Other Revenues Local Sales Tax 3,070,470 3,477,236 88.3% 3,714,218 6.8% Real Property Rental Income 19,502 - na 19,502 na Interest Income 34,272 3,000 1142.4% 35,000 1066.7% Miscellaneous 173,428 159,150 109.0% 173,428 9.0% Subtotal 3,297,672 3,639,386 90.6% 3,942,148 8.3% Total Revenues 8,781,620 8,507,335 103.2% 9,698,586 14.0% Expenditures Contracted Operating Expenditures Personnel 1,388,177 1,728,134 80.3% 1,709,113 -1.1% Food & Beverage 508,909 487,863 104.3% 556,329 14.0% Operations & Maintenance 1,859,641 2,344,939 79.3% 2,273,050 -3.1% Equipment Leases 124,365 162,682 76.4% 151,480 -6.9% Subtotal 3,881,092 4,723,618 82.2% 4,689,972 -0.7% Town Operating Expenditures Personnel 774,315 920,274 84.1% 1,017,000 10.5% Operations & Maintenance 795,722 775,299 102.6% 891,299 15.0% Subtotal 1,570,037 1,695,573 92.6% 1,908,299 12.5% Capital Outlay 1,337,511 2,666,700 50.2% 1,853,347 -30.5% Total Expenditures 6,788,640 9,085,891 74.7% 8,451,618 -7.0% Revenues Over/(Under) Expenditures 1,992,980 (578,556) 1,246,968 Other Financing Sources/(Uses) Transfers In - - na - na Transfers Out (2,028,066) (4,085,380) 49.6% (6,107,426) 49.5% Total Other Financing Sources/(Uses) (2,028,066) (4,085,380) 49.6% (6,107,426) 49.5% Net Change in Fund Balance (4,663,936) (4,860,458) Beginning Fund Balance 5,860,458 Ending Fund Balance **1,000,000 * Year-end estimates are subject to further revision ** Ending fund balance amounts are estimates and are subject to further revision Note: Estimated sales tax collections on golf operations for FY 22/23 is $108,186 FY 2022/2023 ATTACHMENT C-2 Budget Last Year Budget Last Year Actual Budget Variance Last Year Variance Actual Budget Variance Last Year Variance Rounds 3,999 3,700 299 3,542 457 Rounds ‐ Member 34,825 28,850 5,975 29,493 5,332 1,366 800 566 1,294 72 Rounds ‐ Outing 6,204 5,325 879 6,980 (776) 5,892 6,200 (308)5,916 (24)Rounds ‐ Public 45,045 39,925 5,120 49,232 (4,187) ====================================================================================== ================================================================================== 11,257 10,700 557 10,752 505 Total Rounds 86,074 74,100 11,974 85,705 369 Revenue 276,615 285,000 (8,385)276,713 (98)Green Fees 1,945,053 1,715,500 229,553 2,055,826 (110,773) 25,392 23,575 1,817 27,717 (2,325)Cart Fees 268,315 222,950 45,365 238,333 29,982 4,044 5,500 (1,456)3,339 705 Driving Range 36,341 36,250 91 39,342 (3,001) 0 250 (250)273 (273)Golf Cards/Passes 0 18,000 (18,000)19,758 (19,758) 31,235 28,350 2,885 37,327 (6,092)Pro Shop Sales 244,476 194,185 50,291 211,610 32,866 50,297 28,950 21,347 47,439 2,857 Food (Food & Soft Drinks) 326,542 240,875 85,667 290,419 36,123 46,542 32,425 14,117 38,022 8,520 Beverages (Alcohol) 299,625 227,295 72,330 250,547 49,078 5,444 875 4,569 4,701 743 Other Food & Beverage Revenue 16,523 4,595 11,928 26,153 (9,631) 6,434 3,825 2,609 3,922 2,512 Other Golf Revenues (Club Rent, Handicap 42,163 26,710 15,453 31,105 11,058 6,915 2,250 4,665 3,724 3,191 Clinic / School Revenue 32,494 17,775 14,719 26,906 5,588 124,301 95,750 28,551 101,228 23,073 Dues Income ‐ Monthly Dues 1,156,330 926,000 230,330 949,144 207,186 00000Initiation Fee Income / Annual Membersh 4,860 0 4,860 0 4,860 (1,007)2,100 (3,107)2,374 (3,380)Miscellaneous Income and Discounts 22,327 12,366 9,961 9,585 12,741 ==================================================================================== =============================================================================== 576,212 508,850 67,362 546,778 29,434 Total Revenue 4,395,049 3,642,501 752,548 4,148,729 246,320 Cost of Sales 25,228 19,405 (5,823)26,380 1,152 COGS ‐ Pro Shop 173,978 133,130 (40,849)148,666 (25,312) 13,171 7,868 (5,304)12,903 (268)COGS ‐ Food 93,807 68,713 (25,095)83,510 (10,297) 2,791 1,622 (1,169)2,357 (434)COGS ‐ Non‐Alcoholic Beverages 17,624 10,372 (7,252)14,357 (3,267) 11,697 9,891 (1,806)13,105 1,408 COGS ‐ Alcohol 77,157 69,378 (7,779)77,470 314 ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 52,888 38,786 (14,102)54,746 1,858 Total Cost of Sales 362,567 281,592 (80,974)324,004 (38,563) ==================================================================================== =============================================================================== 523,324 470,064 53,260 492,033 31,291 GROSS INCOME 4,032,482 3,360,909 671,574 3,824,725 207,757 Labor 47,071 41,352 (5,720)39,064 (8,007)Golf Operation Labor 359,078 351,152 (7,926)301,274 (57,805) 8,945 9,250 305 8,913 (31)General and Administrative 100,185 98,000 (2,185)95,239 (4,946) 70,319 69,120 (1,200)54,994 (15,325)Maintenance and Landscaping 658,056 691,596 33,540 582,276 (75,780) 29,345 22,177 (7,168)26,370 (2,975)F&B 238,232 208,112 (30,120)226,449 (11,783) 2,969 5,517 2,548 5,955 2,986 Sales and Marketing 72,505 68,417 (4,088)65,362 (7,143) ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 158,649 147,415 (11,234)135,297 (23,353)Total Direct Labor 1,428,056 1,417,277 (10,779)1,270,600 (157,456) 6,794 13,585 6,791 12,181 5,386 Total Payroll Taxes 124,476 130,351 5,876 101,943 (22,533) 11,431 12,150 719 11,958 527 Total Medical/Health Benefits 103,199 110,851 7,652 84,801 (18,398) 2,225 1,743 (482)2,693 468 Total Workmans Comp 20,402 16,806 (3,596)23,409 3,007 ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 20,451 27,478 7,027 26,831 6,381 Total Payroll Burden 248,077 258,008 9,931 210,152 (37,924) ==================================================================================== =============================================================================== 179,100 174,893 (4,207)162,128 (16,972)Total Labor 1,676,133 1,675,286 (848)1,480,752 (195,381) Other Operational Expenses 3,439 4,542 1,103 14,786 11,347 Golf Ops 57,237 50,571 (6,666)82,370 25,133 18,947 14,799 (4,148)12,491 (6,456)G&A 149,862 117,794 (32,068)124,139 (25,723) 26,005 29,958 3,953 32,678 6,673 Maintenance 566,891 517,830 (49,061)506,375 (60,516) 5,803 2,955 (2,848)3,939 (1,864)F&B 32,365 27,975 (4,390)29,577 (2,788) 4,870 2,550 (2,320)1,346 (3,524)Sales and Marketing 46,172 23,875 (22,297)18,285 (27,887) 13,259 13,557 298 15,394 2,135 Golf Cart Leases 121,682 135,570 13,888 144,528 22,846 298 0 (298)0 (298)Equipment Leases 2,683 0 (2,683)0 (2,683) 33,835 92,250 58,415 98,726 64,891 Utilities ‐ Maintenance 521,107 839,250 318,143 773,419 252,312 15,385 12,125 (3,260)15,355 (29)Utilities ‐ G&A 162,381 146,850 (15,531)153,626 (8,755) 10,404 10,404 0 10,200 (204)Management Fees 104,040 104,040 0 102,000 (2,040) 2,276 3,380 1,104 4,000 1,724 Insurance ‐ P&C 50,472 39,375 (11,097)38,122 (12,351) ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 134,521 186,520 51,999 208,916 74,395 Total Other Operational Expenses 1,814,892 2,003,130 188,238 1,977,040 162,147 ==================================================================================== =============================================================================== 313,621 361,413 47,792 371,044 57,423 Total Expenses 3,491,025 3,678,416 187,390 3,457,792 (33,234) ==================================================================================== =============================================================================== 209,703 108,651 101,052 120,989 88,715 EBITDAR 541,457 (317,507)858,964 366,933 174,524 ==================================================================================== =============================================================================== 209,703 108,651 101,052 120,989 88,715 EBITDA 541,457 (317,507)858,964 366,933 174,524 Interest Expense/Dep&Amt 00000Other Expense 0 0 0 (343) (343) 0 0 0 0 0 Capital Improvements/Cap Reserve 27,500 0 (27,500)20,529 (6,972) ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 00000Total Interest Expense 27,500 0 (27,500)20,186 (7,315) ==================================================================================== =============================================================================== 209,703 108,651 101,052 120,989 88,715 Net Income 513,957 (317,507)831,464 346,748 167,209 El Conquistador Golf Club For the Month Ending April 30th, 2023 April YTD ATTACHMENT DConsolidated Year-to-Date Financial Report through April 2023FY 2022/2023FundFY 22/23Beginning BalanceRevenueOther Fin Sources/Transfers InTotal In Personnel O&M CapitalDebt ServiceCapital Leases /Transfer OutTotal OutFund Balance Through April 2023General Fund 30,390,425 45,361,820 45,361,820 26,014,894 9,515,172 485,238 11,048,965 47,064,269 28,687,975 Highway Fund 1,206,986 3,555,518 3,555,518 959,408 493,492 2,063,092 3,515,991 1,246,513 Grants and Contributions Fund 208,250 5,453,208 5,453,208 208,748 163,538 372,286 5,289,172 Seizure & Forfeiture - Justice/State 237,863 10,237 10,237 58,347 58,347 189,753 Community Center Fund 5,860,458 8,781,620 8,781,620 2,162,492 3,164,272 1,337,511 2,152,431 8,816,706 5,825,371 Municipal Debt Service Fund 164,136 147,716 4,200,971 4,348,687 8,645 4,331,059 4,339,704 173,119 Water Resource System & Dev. Impact Fee Fund 17,544,433 1,700,093 1,700,093 86,217 1,216,682 335,322 1,638,221 17,606,305 Townwide Roadway Dev Impact Fee Fund 1,939,688 172,732 172,732 2,190 2,190 2,110,230 Parks & Recreation Impact Fee Fund 509,474 123,372 123,372 1,022 1,022 631,824 Police Impact Fee Fund 132,559 42,378 42,378 292 121,500 121,792 53,145 Capital Fund 24,110,390 1,071,793 9,000,000 10,071,793 184,315 4,723 14,113,649 14,302,687 19,879,496 PAG/RTA Fund 873,366 279,376 279,376 33,878 643,058 676,936 475,806 Water Utility 12,628,510 14,838,696 14,838,696 2,825,007 6,680,535 794,826 4,436,072 2,440 14,738,880 12,728,326 Stormwater Utility 1,125,140 1,263,375 1,263,375 695,378 270,426 29,474 995,278 1,393,237 Benefit Self Insurance Fund 2,869,952 3,897,948 3,897,948 3,772,471 3,772,471 2,995,429 Recreation In-Lieu Fee Fund 16,617 95 95 - 16,712 Total 99,818,247 86,699,977 13,200,971 99,900,948 32,841,494 24,300,430 20,847,068 9,102,453 13,325,336 100,416,781 99,302,414 ATTACHMENT EGeneral Fund Local Sales Tax Collections FY 2022/23JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax586,039 575,738 540,567 518,177 382,338 478,496 580,594 364,554 331,226 376,895 4,734,624 Utility Sales Tax317,210 371,973 356,012 334,868 295,825 266,797 293,200 333,721 320,870 270,869 3,161,345 Retail Sales Tax716,720 680,117 691,138 713,672 729,067 838,562 995,470 705,424 711,636 806,316 7,588,121 Bed Tax146,263 128,132 114,626 142,628 213,392 186,186 165,540 256,564 320,963 362,494 2,036,788 Restaurant & Bar Sales Tax186,438 180,577 199,405 204,482 205,881 227,422 246,520 215,557 281,190 281,567 2,229,039 All Other Local Sales Tax *210,893 199,992 202,571 205,672 240,009 259,665 291,232 268,511 287,294 315,096 2,480,935 Monthly Total 2,163,563$ 2,136,529$ 2,104,319$ 2,119,499$ 2,066,512$ 2,257,128$ 2,572,556$ 2,144,331$ 2,253,179$ 2,413,237$ 22,230,852$ Cumulative Total 2,163,563$ 4,300,092$ 6,404,411$ 8,523,910$ 10,590,421$ 12,847,549$ 15,420,105$ 17,564,436$ 19,817,615$ 22,230,852$ Monthly variance 240,939$ 225,525$ 51,037$ (287,250)$ (359,497)$ 200,346$ (232,225)$ (162,723)$ 241,115$ (99,504)$ Cumulative variance240,939$ 466,464$ 517,501$ 230,250$ (129,247)$ 71,098$ (161,126)$ (323,849)$ (82,735)$ (182,239)$ FY 2021/22JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALConstruction Sales Tax 441,038 419,552 651,924 906,165 509,231 436,821 829,833 525,234 491,178 601,856 466,142 582,006 6,860,980 Utility Sales Tax321,489 383,548 329,545 323,173 285,048 238,499 253,620 474,092 115,418 252,114 234,820 261,849 3,473,215 Retail Sales Tax 675,726 647,693 641,711 682,029 727,762 814,794 1,015,258 701,089 686,381 818,648 793,639 718,525 8,923,255 Bed Tax 130,217 117,012 93,538 108,884 392,162 157,378 205,021 181,927 257,471 321,178 247,836 171,705 2,384,329 Restaurant & Bar Sales Tax 172,386 162,947 172,178 195,482 227,724 191,664 226,775 199,622 206,978 233,228 226,654 219,474 2,435,113 All Other Local Sales Tax *181,767 180,252 164,385 191,016 284,083 217,626 274,274 225,090 254,639 285,717 248,743 221,793 2,729,386 Monthly Total 1,922,624$ 1,911,004$ 2,053,282$ 2,406,749$ 2,426,009$ 2,056,782$ 2,804,781$ 2,307,054$ 2,012,065$ 2,512,741$ 2,217,835$ 2,175,352$ 26,806,278$ Cumulative Total1,922,624$ 3,833,628$ 5,886,910$ 8,293,659$ 10,719,668$ 12,776,451$ 15,581,231$ 17,888,285$ 19,900,350$ 22,413,091$ 24,630,926$ 26,806,278$ *Does not include cable franchise fees or sales tax audit revenues ATTACHMENT FGeneral Fund State Shared RevenuesFY 2022/23JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 756,893 756,894 756,893 756,893 756,893 756,893 756,895 756,893 756,893 756,894 7,568,934 State Shared Sales Tax 308,350 462,557 664,529 559,547 823,170 575,594 246,387 1,007,946 568,981 656,403 5,873,464 County Auto Lieu 97,269 201,901 209,941 195,695 270,425 175,823 195,867 182,872 267,340 190,731 1,987,864 Smart and Safe- - - - - 126,622 - - - - 126,622 Opioid Settlement- - - - - - - - 91,120 - 91,120 Monthly Total 1,162,512$ 1,421,352$ 1,631,363$ 1,512,135$ 1,850,488$ 1,634,932$ 1,199,149$ 1,947,711$ 1,684,334$ 1,604,028$ 15,648,004$ Cumulative Total 1,162,512$ 2,583,864$ 4,215,227$ 5,727,362$ 7,577,850$ 9,212,782$ 10,411,931$ 12,359,642$ 14,043,976$ 15,648,004$ Monthly variance 269,837$ 207,656$ 435,171$ 276,657$ 728,539$ 140,931$ (53,834)$ 786,088$ 423,354$ 183,564$ Cumulative variance 269,837$ 477,493$ 912,664$ 1,189,322$ 1,917,861$ 2,058,792$ 2,004,958$ 2,791,046$ 3,214,400$ 3,397,964$ FY 2021/22JULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNTOTALState Shared Income Tax 500,637 500,637 517,313 517,313 517,313 517,313 517,313 517,313 517,313 517,313 517,313 517,313 6,174,404 State Shared Sales Tax 291,674 534,620 464,795 538,626 428,064 680,044 569,532 458,855 555,746 671,412 521,466 922,244 6,637,078 County Auto Lieu 100,364 178,439 214,084 179,539 176,572 183,593 166,138 185,396 187,906 231,739 168,035 298,521 2,270,326 Smart and Safe- - - - - 113,051 - 59 15 - - 122,828 235,953 Opioid Settlement- - - - - - - - - - - - - Monthly Total 892,675$ 1,213,696$ 1,196,192$ 1,235,478$ 1,121,949$ 1,494,001$ 1,252,983$ 1,161,623$ 1,260,980$ 1,420,464$ 1,206,814$ 1,860,906$ 15,317,760$ Cumulative Total 892,675$ 2,106,371$ 3,302,563$ 4,538,040$ 5,659,989$ 7,153,990$ 8,406,973$ 9,568,596$ 10,829,576$ 12,250,040$ 13,456,854$ 15,317,760$