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HomeMy WebLinkAboutPackets - Council Packets (1326)Town Council Budget Study Session and Special Session June 10, 2020 1 2 Fiscal Year 2019/20 Financial Update Through April 2020 June 10, 2020 3 Note: Revenues and expenditures listed in this report are preliminary, unaudited and subject to change based upon adjusting entries, as necessary. Note: Sales taxes figures for April, represent March transactions and therefore do not fully account for disruptions due to COVID-19 4 GENERAL FUND REVENUES 5 GENERAL FUND EXPENDITURES Use of fund balance estimated at $2.2M (budgeted use is $2.6M) Estimated year-end fund balance = $17,366,188 41.4% of budgeted expenditures 6 GENERAL FUND 7 Revenues HIGHWAY FUND State shared highway user (HURF) revenues estimated under budget by $90,500 due to disruptions caused by COVID-19 One time allocation of $198,000 included in year-end estimates Expenditures At this time, estimated to be 1.0% under budget by fiscal year-end due to reductions in O&M budgets Estimated year-end fund balance to be $567,672 8 HIGHWAY FUND 9 COMMUNITY CENTER FUND Revenues Contracted revenues estimated under budget by 4.1%, or $132,000 based on current Troon forecast by fiscal year-end Town operating revenues estimated under budget by 35.4% or $371,000 by fiscal year-end Half-cent sales tax revenues estimated under budget by 5.2%, or $129,000, due mainly to anticipated declines in retail, restaurant and bar collections Expenditures Contracted expenditures estimated under budget by 4.3%, or $215,000, based on current Troon forecast by fiscal year-end Town operating expenditures estimated to be 8.5%, or $90,000 below budgeted levels by fiscal year-end Estimated deficit of $17,223 for current year with an ending fund balance of $478,709 Year-end revenue estimates likely to be revised as facilities begin to reopen 10 COMMUNITY CENTER FUND 11 Questions? 12 Parks & Recreation Community Center Fund FY20/21 Budget June 10, 2020 13 Community Center Fund ** Note: Transfers out are not included in these figures 14 Community Center Focus on Membership recruitment and retention Staff training and retention Lighting for new Pickleball courts New treadmills Strategic Plan Goals Goal 2A Goal 1E 15 Antares Golf History of Antares Golf (formerly known as Billy Casper Golf) Transition plan and transition team First year goals Golf operations and course conditions Marketing El Conquistador Golf Community engagement and events Food and beverage 16 Golf Management Services 17 Questions 18 Proposed Allocation Strategy for $5.3M in Revenue Made Available Through CARES Act Reimbursement 19 CARES Act Reimbursement Provided to Cities, Towns and Counties that did not receive direct allocations Portion of State of Arizona’s $1.9B allocation Oro Valley to receive nearly $5.3M Governor designated reimbursement exclusively for public safety personnel costs from March 1 – December 30, 2020 Frees up General Fund dollars spent/budgeted for other uses 20 Proposed Allocation Strategy $1M Business Support $1.3M Town Services and Continuity of Operations $1M Resurgence Funding $1M Town Council Strategic Priorities $1M Additional Contingency 21 Business Support ($1M) Strategy currently under development with assistance of Davidson Strategic Primary goal to help businesses successfully operate in new COVID environment Allocation of resources subject to State Constitution Gift Clause 22 Town Services and Continuity of Operations ($1.3M) Technology support for employees Technical and physical improvements to enable more reliable public meetings now and plan for future in-person meetings Reopening requirements where retrofits/ reconfigurations/technology improvements are necessary PPE, supplies, sanitization for employees and visitors Health and wellness support for employees Police equipment and recruitment Revenue replacement to accommodate service impacts Response to service demands in pandemic environment 23 Future Resurgence ($1M) PPE and other supplies Testing Paid leave where necessary to comply with public health precautions Emergency management Telework/E-government Potential child care assistance for essential workers Potential employee quarantine quarters 24 Town Council Strategic Priorities ($1M) Parks and Recreation master plan completion and priority implementation Additional facility maintenance Training for process improvement Vistoso Golf evaluation Additional PSPRS Contribution of $500,000 25 Additional Contingency ($1M) Hold for additional cushion against unplanned expenditures or revenue losses If economy improves and revenues stable, can be considered for employee market adjustment in 3rd or 4th quarter 26 Break Slide 27 Budget Study Sessions FY 2020-21 Recommended Budget May 27 and 28, 2020 28 Thank you for watching! 29 Town Council currently in Executive Session (Budget Study Session and Special Session will begin at or after 6 p.m.) June 10, 2020 30