HomeMy WebLinkAboutPackets - Council Packets (357)Council Meeting
Regular Session
May 17, 2017
1
Town Council Meeting Announcements
2
Upcoming Meetings
3
4
5
FY 2017/18
Tentative Budget Adoption
May 17, 2017
6
FY 17/18 Budget Timeline
MARCH 1
Department budget requests due to Finance
JANUARY
One-on-one meetings with Councilmembers to outline budget priorities
Timeline
First of 2 regular public hearings on the budget.
With adoption of the Tentative Budget, Council is setting the maximum cap for FY 2017/18 spending.
7
Economic Development
Complete Community
Parks and Recreation
Public Safety
Town Assets
Strategic Plan Focus Areas
Water Resources and Energy
Cultural Resources
Land Use and Design
Transportation
Cost of Services
8
Changes from Recommended Budget of $123.2M
Capital Project Bond Fund
Capacity of $5 million for possible issuance and expenditure of voter-approved bond funds
Energy Efficiency Project Fund
Additional rollover of $249,750 to complete energy efficiency project at Community Center
Highway Fund
Additional, one-time Highway User (HURF) revenues of $125,000 approved in the State budget
Reduce transfer from the General Fund by $125,000
Increases General Fund ending fund balance from $11.7M to $11.8M
Bed Tax Fund
Increase O&M budget by $50,000 for marketing, advertising, sports tourism and arts & culture per Council direction on May 10 (utilizing Bed Tax Fund contingency)
Tentative Budget Total = $128,567,505
Back on April 19th, staff presented the TMRB in the amount of $123.2M, and since then, a few adjustments have been made to the budget as outlined on this slide to bring the Tentative
Budget total to $128.6M as presented this evening. It is common for there to be some change between the Manager’s Recommended Budget and the Tentative budget, and these changes are
the result of
Therefore, the overall Tentative Budget amount is $120,885,698 including all of these adjustments.
9
FY 17/18 Revenue Sources - $128.6M
This slide depicts the revenue sources and beginning fund balances of all funds included in the budget of $117.9M. Our fund balances make up nearly $41M or 34% of the budget, while sales
taxes comprise 16% at $18.8M, Charges for Svcs at 11% or $12.5M, State Shared revenues at 12% or $13.8M, Water Sales at 10% or $12M and Outside Funding Sources (mainly PAG and RTA funds)
at 10% or $12.1M.
10
FY 17/18 Expenditure Categories - $128.6M
This slide depicts the Town’s expenditure categories with the Personnel making up just over a quarter of the budget at $30.7M, O&M at nearly $26M, Capital at $21.3M, Debt Service at
$6M and our Contingency Reserves at just over $34M.
11
FY 17/18 Capital Improvement Program (CIP)
Total CIP projects for FY 17/18 = $24,667,694
The Capital Improvement Program for FY 16/17 is displayed on this slide and totals $19.8M.
You will notice that almost ½ of this budget is captured in the PAG/RTA Fund at $9M, with dedicated funding from these agencies for 3 roadway improvement projects in the budget, Lambert
Lane, La Cholla, and Tangerine.
Water Utility Fund has $3.3 M in projects, with a significant portion of this amount attributable to utility work associated with the roadway widening projects.
General Govt CIP Fund has $2.6M budgeted for various parks & recreation, public safety, transit and other facility improvements.
The full detailed listing of all projects is included in the budget document.
12
FY 17/18 General Fund Overview
SOURCES
$36,335,537
USES
$36,725,371
$390K planned use of reserves for one-time expenditures
Ending fund balance of $11.8M = 32% of expenditures
This slide is a quick snapshot of the General Fund Budget totaling just over $33M, excluding the fund balance amount. You can see our revenue sources exceed our expenditures, or uses,
by about $57K, which is our budgeted surplus in this fund.
Just a few highlights – on the revenue sources chart – 80% of General Fund revenues come from local sales tax and state shared revenues. Just a reminder – town does not collect property
taxes to fund its operations.
On the Uses Chart – Personnel costs comprise 70% of the budget as is fairly common in local government.
13
Council clarification request
Steam Pump Ranch CIP Funding
Need clarification on particulars of the funding
Location – Procter Leiber, Pusch House
Specific improvements to be funded
Finally, tonight’s adoption of the Tentative Budget sets the maximum spending cap of $117.9M or $120.9M. When we come back on June 1st for adoption of the Final Budget, any potential
changes to the budget cannot cause this cap to be exceeded.
It’s important to note that the Council has the authority to amend the budget throughout the fiscal year.
After the spending cap is set tonight, we will publish the budget for 2 consecutive weeks and plan to hold our 2nd public hearing for the final adoption of the budget on June 1st.
14
Final Notes and Next Steps
Tentative Budget adoption sets the maximum spending ceiling
Final Budget cannot exceed Tentative Budget maximum amount
Council has authority to amend budget throughout the fiscal year
Publish Tentative Budget for two consecutive weeks
Final Budget approval and public hearing set for June 7th regular session
Finally, tonight’s adoption of the Tentative Budget sets the maximum spending cap of $117.9M or $120.9M. When we come back on June 1st for adoption of the Final Budget, any potential
changes to the budget cannot cause this cap to be exceeded.
It’s important to note that the Council has the authority to amend the budget throughout the fiscal year.
After the spending cap is set tonight, we will publish the budget for 2 consecutive weeks and plan to hold our 2nd public hearing for the final adoption of the budget on June 1st.
15
Questions?
16
17