HomeMy WebLinkAboutPackets - Council Packets (969)Council Meeting
Regular Session
January 23, 2019
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Town Council Meeting Announcements
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Upcoming Meetings
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Fiscal Year 2018/2019
Financial Update Through November 2018
January 23, 2019
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General Fund
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General Fund Highlights
Local sales taxes and State-shared revenues trending on budget
Seasonality of revenue collections factored in
Revenues estimated to end year under budget by $270K
Main variance in Federal/State Grants and Other Intergovernmental
Offset by reductions in expenditures
Expenditures estimated to end year under budget by $862K
Estimated personnel savings of $440K
Estimated operations & maintenance savings of $129K
Reduced subsidy transfer to Highway Fund by $328K due to additional HURF funding
Year-end fund balance estimated at $14.1M
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Highway Fund
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Highway Fund Highlights
HURF gas tax revenues trending over budget
Revenues estimated to end year under budget by $38K
Subsidy transfer from General Fund reduced by $328K
Expenditures estimated to end year under budget by $65K due to personnel savings
Pavement preservation program expenditures estimated to end year on budget at $800K
Year-end fund balance estimated at $470K
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Community Center Fund
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Community Center Fund Highlights
Contracted revenues estimated to end year under budget by $96K
Golf member dues and food and beverage operations
Town revenues estimated to end year under budget by $210K due to contracting out tennis operations
Half cent sales tax revenues estimated to end year on budget
Contracted expenditures estimated to end year under budget by $54K
Water savings and management fee reduction
Town expenditures estimated to end year under budget by $215K due to contracting out tennis operations
Year-end fund balance estimated at ($20K)
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QUESTIONS?
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