fy 2020-21 budget presentation - denton, texas...adopted fy 2019-20 budget of $39,281,942. this...
TRANSCRIPT
1
Finance Department
FY 2020-21 Proposed Budget
August 6, 2020 ID 20-1154
2
Presentation Objectives
• COVID Financial Response Timeline
• Proposed Budget Priorities
• Financial Overview
• Assessed Value and Tax Rate Assumptions
• Tax Rate Discussion
• General Fund Revenue Discussion
• General Fund Forecast
• Capital Improvement Plan
• Other Funds
• Next Steps
August 6, 2020 ID 20-1154
3
COVID Financial Response Timeline
Financial Event (COVID) Action
Ma
rch
City declares local emergency in response to COVID-19 • Financial Disaster Plan Implemented
Non-essential businesses close in response to pandemic • Finance Staff began forecasting possible financial impact in response to
non-essential business closer
• Delayed and reprioritized capital projects
• City implements hiring freeze
• Ceased discretionary travel and training
• Ceased merit increases
• Analyzed contracts for possible savings
Ap
ril
Non-essential businesses remain close in response to pandemic • Phase #1 cost reduction strategies
• Forecasted General Fund revenue loss of $10 - $15 million
• Forecasted Utility revenue loss $10 - $20 million
• Electric Return on Investment (ROI) increased to 6%
• Enacted Voluntary Separation Program (VSP)
Non-essential businesses begin a phased reopening approach • Staff begins to adjust forecast based on a slow recovery in the economy
Ma
y Denton County notifies the City of CRF funding • Received notification from Denton County of $7,619,755 in CRF funding
Ju
ne
Staff receives April sales tax data from comptroller • Finance Staff update end of year forecast based on April sales tax
collection
• Departments update end of year estimate for FY 2019-20
• Forecasted General Fund revenue loss of $5 - $7 million
• Forecasted Utility revenue loss $4 - $6 million
• VSP ended
• On March 13, 2020, the City of Denton declared a Local Disaster for Public Health Emergency
• In response to the pandemic staff has taken the following steps to mitigate the financial impact of COVID-19
4
August 6, 2020 ID 20-1154
55
Assessed Value (AV) and Tax Rate Assumptions2020 Appraisal Process
• Denton CAD protests significantly higher across all entities.
• ARB review timeline delayed due to remote review process.
• Implementation of new software by Denton CAD caused issues.
• Certified Totals were not available on July 24th as typically anticipated.
• Denton CAD provided a Certified Estimate.
Certified Estimates
• Currently, there are a total of 8,125 parcels under protest representing 39% of total value.
• The proposed budget assumes approval of 85% of value under protest.
• 85% is a projection for budget purposes and based on limited information from DCAD.
• Staff will continue to revise projections and present tax rate implications to Council in advance of budget adoption
• The “No New Revenue” and “Voter Approval” tax rate calculates assume the lowest protest values resulting
in a “No New Revenue Rate” higher than our current tax rate.
August 6, 2020 ID 20-1154
66
Tota
l Asse
ssed
Va
lue
3%
1% -2%
3%
5%
4%
12%
9% 8%
14%
10%
12%
4%
$0
$2,000,000,000
$4,000,000,000
$6,000,000,000
$8,000,000,000
$10,000,000,000
$12,000,000,000
$14,000,000,000
-2%
0%
2%
4%
6%
8%
10%
12%
14%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Tax Year
Property Value Growth
(Annual Percentage Change)
Assessed Value and Tax Rate Assumptions (cont.)
August 6, 2020 ID 20-1154
77
*Includes TIRZ and Frozen Value
• Currently, 39.3% of total assessed value is under protest.
• If Appraisal District has not approved appraisal records, the Chief Appraiser shall provide a
certified estimate.
• The high percentage of protest creates uncertainty in total assessed values and revenues.
Assessed Value and Tax Rate Assumptions (cont.)
August 6, 2020 ID 20-1154
Values as of Certified Total or Certified Estimate ~ July 24th Each Year
Fiscal Year Certified Value* Total ARB
Value
Proposed ARB
Value (85%)
Properties In
Review
2020-21 $8,796,479,166 $5,688,656,463 $4,835,357,994 39.3%
2019-20 $12,545,128,503 $244,259,543 $244,259,543 1.91%
2018-19 $10,936,139,629 $491,429,271 $492,429,271 4.30%
2017-18 $10,123,139,187 $293,722,030 $293,722,030 2.82%
88• Current Tax Rate $0.590454
• In 2019, City received 87% of the protest value
85% Protest Value
State Calculated AV
Certified Value $8,796,479,166
Protest Value $4,343,166,707
Frozen Values ($1,594,241,870)
TIRZ ($179,689,497)
Certified Estimate $11,365,714,506
City Calculated AV
Certified Value $8,796,479,166
Protest Value $4,835,357,994
Frozen Values ($1,594,241,870)
TIRZ ($198,541,948)
Total AV $11,839,053,342
Proposed Budget Assumption
AV Increase over July 2019 Certified Values – 1%
State Calculated No New Revenue Rate - $0.616399
State Calculated Voter Approval Rate - $0.635860
AV Increase over July 2019 Certified Values – 4%
Proposed Tax Rate - $0.590454
Assessed Value and Tax Rate Assumptions (cont.)
August 6, 2020 ID 20-1154
99
Assessed Value and Tax Rate Assumptions (cont.)
August 6, 2020 ID 20-1154
Lowest Value 82% 85% 87%
Certified Value $8,796,479,166 $8,796,479,166 $8,796,479,166 $8,796,479,166
Protest Value $4,343,166,707 $4,664,698,300 $4,835,357,994 $4,949,131,123
Frozen Values/TIRZ ($1,773,931,367) ($1,786,827,560) ($1,792,783,818) ($1,840,915,177)
Total AV $11,365,714,506 $11,674,349,906 $11,839,053,342 $11,904,695,112
Proposed Tax Rate $0.590454 $0.590454 $0.590454 $0.590454
Total Levy $67,109,316 $68,931,666 $69,904,164 $70,291,748
Levy Difference
from Proposed
Budget
($1,822,350) ($972,498) $0 $670,329
1010
Assessed Value and Tax Rate Assumptions (cont.)
August 6, 2020 ID 20-1154
Over 65 Tax Freeze History
Freeze Taxable
Actual Tax Levy
Taxable
Equivalent*
Assessed Value
Difference
City Tax Revenue
Difference
FY 2020-21 1,593,633,620$ 1,427,164,560$ (166,469,060)$ (980,178)$
FY 2019-20 1,434,521,842$ 1,257,454,060$ (177,067,782)$ (1,045,504)$
FY 2018-19 1,253,423,086$ 1,140,448,592$ (112,974,494)$ (700,981)$
1111
Tax Rate Discussion
*Proposed Rate
Fiscal Year Operations Rate Debt Rate Total Rate Average Taxable Value Average Tax Bill
2021 $0.380364 $0.21009 $0.59045* $248,909 $1,470
2020 $0.385364 $0.20509 $0.59045 $248,909 $1,470
2019 $0.40543 $0.21505 $0.62048 $233,165 $1,447
2018 $0.43031 $0.20755 $0.63786 $214,379 $1,367
2017 $0.46674 $0.21660 $0.68334 $197,379 $1,349
• The proposed budget includes a tax rate equal to the current tax rate of $0.59045.
Of this amount, $0.380364 is provided to operation and maintenance expense and
$0.210090 for debt.
• The maintenance and operations rate decreased by $0.005.
• The debt service rate will increase by $0.005, to support the City’s continued
investment in public safety and street infrastructure.
August 6, 2020 ID 20-1154
• The 2021 taxable value is currently equal to the 2020 value. This is due to the fact
that the taxable value received from Appraisal District is below the 2020 value.
1212
Residential Annual Tax and Utility Bill Impact
Tax Impact
Fiscal Year 2019 2020 2021 - Proposed Comments
Tax Rate $0.62048 $0.59045 $0.59045
Average Taxable Value $233,165 $248,909 248,909
Average Tax Bill $1,447 $1,470 $1,470 $0 Increase
Utility Impact
Water $650 $650 $637 2% Rate Decrease
Wastewater $378 $378 $378 No Rate Change
Electric $1,500 $1,500 $1,500 No Rate Change
Solid Waste $300 $260 $248 $1.00/Month Decrease*
Average Utility Bill $2,820 $2,788 $2,763 $24.00 Utility Decrease
Total Average Bill $4,267 $4,258 $4,233 $24.00 Decrease
* Residential rate decrease
Tax Rate Discussion (cont.)
August 6, 2020 ID 20-1154
1313
General Fund Revenue Discussion – Sales Tax
• Sales tax through May totaled $25,114,194
which is $33,539 below the original budget
• The revised forecast is $1.45 million below the
adopted FY 2019-20 budget of $39,281,942.
This represents a 10% reduction from June-
September.
• Preliminary FY2021 Sales Tax Budget is
$36,441,831.
• 10% Sales Tax Reduction in October through March of FY2021
• Staff will receive June and July sales tax data
during August and September
August 6, 2020 ID 20-1154
$0
$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
Total Sales Tax Collection
Budget April 21, 2020 Revised Estimate
1414
General Fund Revenue Discussion – Sales Tax (cont.)
August 6, 2020 ID 20-1154
-
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
Sales Tax History
Annual Sales Tax Total
1515
General Fund Revenues
FY 2019-20 Proposed Budget
$140,303,258
Ad Valorem Tax38%
Sales Tax30%
Franchise Fees4%
Fees, Permits, Use of Reserves
14%
ROI7%
Cost of Service7%
August 6, 2020 ID 20-1154
1616
General Fund Expenditures by
Category
FY 2019-20 Proposed Budget
$140,301,932
Personnel Services
69%Materials &
Supplies2%
Maintenance & Repairs
1%
Insurance1%
Miscellaneous3%
Operations11%
Cost of Service12%
Transfers1%
Expenses
August 6, 2020 ID 20-1154 • The proposed FY 2020-21 budget includes $703,450 in homelessness initiatives
1717
Compensation & Benefits Assumptions
• Civil Service pay adjustments to maintain meet and confer agreement (5% above survey
cities average) and STEP increases
• Budget includes a one-time merit payment of 2.5%-3% for Non-Civil Service employees
• Health Insurance
• Assumes no change to City contributions
• Retirement
• TMRS rate increase from 17.46% to 17.76%
• Fire pension remains rate at 18.5%
August 6, 2020 ID 20-1154
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Positions Summary• Position Reductions
• 85.84 FTEs removed from Budget across all funds
• Result of Voluntary Separation Program and other vacancies
• All vacant positions are evaluated by an internal Committee, and according to the needs of the organization, positions are filled, transferred or eliminated.
• New Positions
• 11 New FTEs added to budget
• 6 Police Positions
• 3 Fire Positions*
• 2 Legal Positions**
• Net Reduction of 74.84 FTEs across all funds
August 6, 2020 ID 20-1154 *total cost $345,742, $195,986 is funded by SAFR Grant
**Cost is allocated to the utilities
19
Position Summary – All Funds
PERSONNEL 2019-20 2020-21Full Time Equivalents (FTE) MODIFIED Reductions New Positions PROPOSEDGeneral Fund Neighborhood Services 228.76 4.84 223.92 Public Safety 521.73 3 9 527.73 Transportation 13.00 0 13.00 Administrative & Community Services 92.75 4 2 90.75 TOTAL GENERAL FUND 856.24 11.84 11 855.40
Internal Service, Utilities Electric Fund 189.00 20 169.00 Water Fund 107.50 6 101.50 Wastewater Fund 125.00 13 112.00 Solid Waste Fund 128.00 5 123.00 Airport Fund 6.00 1 5.00 Customer Service Fund 45.00 2 43.00 Technology Services Fund 61.75 5.0 56.75 Facilities Management Fund 20.50 4.5 16.00 Materials Management Fund 26.50 4.5 22.00 Fleet Management Fund 26.00 0 26.00 Risk Retention Fund 10.00 3 7.00 Engineering Services Fund 51.00 0 51.00 Street Improvement Fund 43.00 5 38.00 Recreation Fund 55.87 5 50.87 CDBG Fund(1) 3.00 0 3.00 Tree Mitigation Fund 0.50 0 0.50 TOTAL OTHER FUNDS 898.62 74.0 0 824.62
-TOTAL ALL FUNDS 1,754.86 85.84 11 1,680.02
Net Reduction of 74.84 FTEs across all funds
20
Financial Forecast - General FundFY 2019-20
Budget
FY 2019-20
Estimate
FY 2020-21
Proposed
FY 2021-22
Projected
FY 2022-2023
Projected
FY 2023-24
Projected
FY 2024-2025
Projected
Beginning Fund Balance 30,132,466$ 30,132,466$ 31,067,364$ 31,068,690$ 31,035,868$ 29,823,135$ 28,153,072$
Property Tax 48,629,729$ 48,629,729 48,339,022 52,086,112 53,808,043 55,825,279 57,919,177
Sales Tax 39,281,942 37,834,982 36,441,831 38,263,923 40,177,119 42,185,975 44,295,274
Franchise Agreements 4,598,933 3,882,830 3,998,933 3,878,965 3,762,596 3,649,718 3,540,227
Other Taxes 501,870 225,528 314,539 360,220 412,753 473,166 542,641
Service Fees 8,167,157 6,743,219 7,927,788 8,189,617 8,263,319 8,296,087 8,329,249
Fines and Fees 3,576,618 2,527,723 3,534,817 3,642,241 3,753,229 3,867,901 3,986,385
Licenses and Permits 6,626,452 6,108,706 6,122,621 6,263,167 6,407,282 6,555,066 6,706,625
Transfers 12,662,121 12,342,121 13,156,436 13,551,129 13,957,663 14,376,393 14,807,685
Return on Investment (ROI) 8,978,547 11,452,923 14,577,141 14,563,513 9,570,755 9,763,560 10,885,323
Other Revenues 3,312,573 2,674,534 2,890,130 2,556,284 2,572,664 2,602,252 2,626,283
CRF Funding - 4,619,755 3,000,000 - - - -
Total Revenue 136,335,942$ 137,042,049$ 140,303,258$ 143,355,171$ 142,685,422$ 147,595,397$ 153,638,869$
Personnel Services 93,228,390$ 93,117,979 96,604,735$ 98,536,830$ 100,507,566$ 102,517,718$ 104,568,072$
Materials & Supplies 3,288,810 2,434,114 3,550,314 3,656,823 3,443,511 3,443,511 3,443,511
Maintenance & Repair 1,711,553 1,513,947 1,700,561 1,751,578 1,773,156 1,826,351 1,881,142
Insurance 1,569,761 1,565,878 1,551,820 1,598,375 1,665,360 1,715,321 1,766,781
Miscellaneous 1,573,452 3,924,820 3,727,213 3,839,029 1,637,019 1,669,759 1,703,154
Operations 17,874,101 16,362,752 15,095,703 15,397,617 15,705,569 18,358,144 18,907,744
Transfers 16,654,364 16,773,452 17,472,369 17,996,540 18,536,436 19,092,529 19,665,305
Fixed Assets 596,117 414,209 599,217 611,201 629,537 642,128 648,549
Total Expenditures 136,496,548$ 136,107,151$ 140,301,932$ 143,387,993$ 143,898,155$ 149,265,461$ 152,584,258$
Ending Fund Balance 29,971,860$ 31,067,364$ 31,068,690$ 31,035,868$ 29,823,135$ 28,153,072$ 29,207,682$
Change in Fund Balance (160,606)$ 934,898$ 1,326$ (32,822)$ (1,212,733)$ (1,670,064)$ 1,054,610$
Fund Balance as % of Total Expenditures 21.96% 22.83% 22.14% 21.64% 20.73% 18.86% 19.14%
21
General Government Proposed Debt
Internal Service Fund Proposed Debt
• Streets Projects (2019 Bond Election) $12.40 Million
• Police Facility Projects (2019 Bond Election) $42.90 Million
• Completion of 2012/2014 Street Reconstruction (CO) $8.90 Million
• Vehicle Funding (CO) $3.36 Million
• Facility Improvements $1.48 Million
Total New General Government Debt $69.04 Million
FY 2020-21 Capital Improvement Plan – Proposed Debt
• Fleet Expansion (Fleet Fund) $2.9 Million
• 311 CRM System (Tech Services Fund) $1.3 Million
Total New Internal Service Funded Debt $4.2 Million
Utilities Funds Proposed Debt
• Electric $65.03 Million
• Water $35.52 Million
• Wastewater $32.87 Million
• Solid Waste $3.00 Million
Total New Utility Debt $136.42 Million
August 6, 2020 ID 20-1154
22
FY 2020-21 Capital Improvement Plan – 311 CRM$1.3 Million
August 6, 2020 ID 20-1154
Project Goals and Objective • Centralized city-wide activity tracking for coordination, process improvement
and analytics• Easy and traceable routing of work between departments.• Improving the overall customer experience as a city-wide goal. • A more functional request submission process that drives the effectiveness of
routing. • Centralized management of inquiries coming into the city. • General and personalized citizen notifications (e.g. trash pickup, holidays, major
announcements)
Estimated Timeline • Fall 2020 – Release RFP and Select Vendor
• Winter/Spring 2021 – Implement 311/CRM Platform, Procedures, Policies
• Summer 2021 – Begin Public-Facing Rollout
23
FY 2020-21 Capital Improvement Plan – 311 CRM (cont.)
August 6, 2020 ID 20-1154
customer inquiries
centralized responses by customer service reps
(311)
centralized software to manage customer relations
CRM
one source for data, analytics, and service-level
agreements
CRM communicates with departments’
systems
CRM assigns tasks
departments solve customer issues
24
FY 2020-21 Capital Improvement Plan – Fleet Expansion$2.9 Million
August 6, 2020 ID 20-1154
Project Goals and Objective
• Addition of 12 heavy repair bays to current fleet facility
• Improve capacity to meet projected organizational needs through 2030
• Align with consultant’s recommended facility standards
• Maintain consistent repair rates / cost of operations
Timeline
• September 2020 - Solicit / Evaluate Construction Bids
• December 2020 - Present to Council for consideration
• March 2021 – Initiate construction
• January 2022 – Project completion
25
Other Funds
August 6, 2020 ID 20-1154
26
Electric Forecast – No rate increase, reduced TCOS revenue
• The No Sale TMPA option is
reflected
• Non-rate Revenue decreases
due to lower anticipated
return for Transmission
Revenue beginning in FY 2023
• $21 Million included in
Purchase Power for TMPA
decommissioning costs from
2021-2024
• ROI expense will reduce from
6% to 3.5% in 2023
Actual Budget Estimate Proposed Projected Projected Projected Projected
2019 2020 2020 2021 2022 2023 2024 2025
Revenues
Base Rate Revenues 91,676,163$ 91,742,314$ 87,874,709$ 88,749,090$ 90,710,991$ 95,580,683$ 100,239,007$ 101,772,563$
ECA Revenues 55,781,982 54,747,516 52,089,181 53,434,189 54,615,413 57,547,365 60,352,056 61,275,381
Non-rate Revenues 53,496,669 50,677,675 61,064,726 64,670,773 60,132,563 48,222,849 44,200,317 47,224,287
DEC Revenue 37,482,023 25,073,394 25,073,394 24,545,418 21,024,916 16,788,653 14,291,590 11,539,816
Revenue 238,436,836$ 222,240,899$ 226,102,010$ 231,399,469$ 226,483,882$ 218,139,551$ 219,082,970$ 221,812,048$
Planned Use of Reserves - 6,987,310 3,365,880 - - 6,494,086 7,097,536 880,759
Total Revenue 238,436,836$ 229,228,209$ 229,467,890$ 231,399,469$ 226,483,882$ 224,633,636$ 226,180,506$ 222,692,808$
Expenditures
Purchase Power 97,075,122 86,805,525 86,805,525 83,337,505 73,120,996 73,373,821 71,431,779 59,987,656
Transmission of Power 16,997,292 18,616,102 17,911,273 19,182,169 19,375,338 21,806,720 22,551,864 24,202,659
O&M 24,807,387 36,171,482 35,495,229 34,017,180 34,755,466 35,549,812 36,329,840 39,261,705
Cost of Service Transfers 14,730,804 16,844,035 15,701,049 17,250,361 17,720,872 17,210,647 17,715,117 18,234,721
ROI & Franchise Fee 15,371,434 16,062,096 18,825,846 21,813,137 21,640,803 16,340,725 16,601,888 19,112,883
NON DEC Debt Service 36,314,570 37,450,771 37,450,771 38,218,269 41,921,118 43,043,575 44,229,903 44,588,315
DEC Debt 14,330,417 17,278,198 17,278,198 17,285,053 17,294,941 17,308,336 17,320,115 17,304,869
Revenue Funded Capital 16,312,335 - - - - - - -
Total Expenditures 235,939,361$ 229,228,209$ 229,467,890$ 231,103,674$ 225,829,533$ 224,633,636$ 226,180,506$ 222,692,808$
Net Income 2,497,475$ -$ -$ 295,796$ 654,350$ -$ -$ -$
Rate Increase 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Working Capital 254,814,510 18,338,257 18,357,431 18,488,294 18,066,363 17,970,691 18,094,441 17,815,425
Operating Reserve 58,527,551 29,814,378 54,393,365 54,532,008 55,619,848 42,729,970 28,407,757 26,932,899
77,919,827$ 48,655,053$ 73,231,035$ 73,526,830$ 74,181,180$ 61,193,009$ 46,997,936$ 45,236,417$
Fund Balance as % of Budgeted Expenses 29.49% 14.60% 26.65% 26.40% 27.16% 20.56% 13.41% 12.76%
Rating Agency Debt Coverage Calculation 1.67 1.17 1.30 1.40 1.38 1.16 1.15 1.29
Wrking Cptl/ Op Reserve Target - 60 Days (16%) $37,750,298 $36,676,513 $36,670,663 $36,976,588 $36,132,725 $35,941,382 $36,188,881 $35,630,849
Wrking Cptl/ Op Reserve Target - 75 Days (21%) $49,547,266 $48,137,924 $48,130,246 $48,531,771 $47,424,202 $47,173,064 $47,497,906 $46,765,490
Days of Cash on Hand 121 77 116 116 120 99 76 74
August 6, 2020 ID 20-1154
27
Water Forecast• 2% Rate Decrease• Emphasis of Revenue Funded Capital pertaining to Water Plant
2828
Wastewater Forecast (Includes Drainage)
August 6, 2020 ID 20-1154
29
Solid Waste Forecast - Includes Rate Decrease
August 6, 2020 ID 20-1154
30
Streets Fund - Forecast • Includes $10.6 million in street maintenance and capital funding.
August 6, 2020 ID 20-1154
31
Recreation Fund - Forecast
FY 2019-20
Adopted
FY 2019-20
Estimate
Preliminary
FY 2020-21
Forecast
FY 2021-22
Forecast
FY 2022-23
Forecast FY
2023-24
Forecast FY
2024-25
Beginning Fund Balance 384,391$ 384,391$ 122,618$ 0$ 0$ 0$ 0$
Leisure Serv ices Admin 80,284 27,000 69,406 70,794 72,210 73,654 75,127
Youth and Teen Serv ices 540,484 145,000 405,363 413,470 421,740 430,174 438,778
Recreational Facilities 925,156 249,683 854,515 871,605 889,037 906,818 924,955
Athletics, Drv ing Range, Tennis 691,324 307,500 518,493 528,863 539,440 550,229 561,233
Other Programs 57,518 16,000 38,952 39,731 40,526 41,336 42,163
Total Resources 2,294,766$ 745,183$ 1,886,729$ 1,924,464$ 1,962,953$ 2,002,212$ 2,042,256$
Leisure Serv ices Admin 671,297 688,856 727,943 742,502 757,352 772,499 787,949
Youth and Teen Serv ices 867,228 389,474 921,032 939,453 958,242 977,407 996,955
Recreational Facilities 3,562,014 2,276,992 3,563,432 3,566,923 3,638,261 3,711,026 3,785,247
Athletics, Drv ing Range, Tennis 1,264,433 821,318 1,432,570 1,461,221 1,490,446 1,520,255 1,550,660
Public Relations 419,623 413,470 248,469 253,438 258,507 263,677 268,951
Voluntary Seperation Program (VSP) - 41,571 (310,124) (155,062) - - -
Total Expenditures 6,784,595$ 4,631,680$ 6,583,322$ 6,808,475$ 7,102,808$ 7,244,864$ 7,389,761$
General Fund Transfer 4,228,056$ 3,624,725$ 4,573,975$ 4,884,011$ 5,139,855$ 5,242,652$ 5,347,505$
Change in Fund Balance (261,773) (261,773) (122,618) 0 0 0 0
Ending Fund Balance 122,618$ 122,618$ 0$ 0$ 0$ 0$ 0$
August 6, 2020 ID 20-1154
3232
Tourist and Convention Fund
August 6, 2020 ID 20-1154
PY 2020
Estimate
PY 2021
Requests
PY 2021
Recommendation
Beginning Fund Balance 2,032,613$ 1,272,352$ 1,272,352$
Revenues:
Convention Center Hotel 400,000$ 453,850$ 453,850
Prior Year Refunds - 482,488 482,488
Hotel Revenue - All Others 1,771,723 1,618,926 1,618,926
Total Revenues 2,171,723$ 2,555,263$ 2,555,263$
Expenditures:
Sub-total Recipient Expenditures 2,531,984$ 2,429,140$ 2,274,680$
Sub-total Economic Incentive Expenditures 400,000$ 453,850$ 453,850$
Total Expenditures 2,931,984$ 2,882,990$ 2,728,530$
Ending Fund Balance 1,272,352$ 944,625$ 1,099,085$
3333
Projected Appropriable Fund Balances
Special Revenue,
Internal Service Funds
Appropriable
Fund Balance
9-30-20*
FY 2020-21
Revenues
FY 2020-21
Expenditures
Appropriable
Fund Balance
9-30-21*
FY 2020-21
Change in
Fund Balance
Parks Gas Well $37,370 $20,400 $50,000 $7,770 ($29,600)
McKenna Trust Fund $10,145 $7,000 $5,000 $12,145 $0
PEG Fund $1,295,220 $270,000 $440,000 $1,125,220 ($170,000)
Parkland Dedication Fund $2,980,673 $425,000 $1,000,000 $2,405,673 ($575,000)
Parkland Development Fund $3,387,596 $350,000 $1,000,000 $2,737,596 ($650,000)
Technology Services $743,350 $17,522,337 $17,846,554 $419,133 ($324,217)
Material Management $10,197 $15,887,415 $15,741,663 $155,949 $0
Fleet Management $207,719 $10,841,200 $10,830,678 $218,241 $0
Risk Retention $1,417,526 $4,111,380 $4,070,378 $1,458,528 $0
Health Insurance $4,966,038 $29,888,100 $30,064,100 $4,790,038 $0
Engineering Services $323,091 $9,487,237 $9,487,237 $323,091 $0
*EstimateAugust 6, 2020 ID 20-1154
3434
Projected Appropriable Fund Balances (cont.)
Special Revenue,
Internal Service Funds
Appropriable
Fund Balance
9-30-20*
FY 2020-21
Revenues
FY 2020-21
Expenditures
Appropriable
Fund Balance
9-30-21*
FY 2020-21
Change in
Fund Balance
Street Improvement Fund $3,972,314 $15,302,350 $15,893,757 $3,380,907 ($591,407)
Tree Mitigation Fund $804,277 $180,000 $653,100 $331,177 ($473,100)
Recreation Fund $122,619 $6,460,704 $6,583,323 $0 ($122,619)
Downtown TIRZ $1,106,661 $759,695 $100,000 $1,766,356 $659,695
Westpark TIRZ $446,166 $587,002 $195,734 $837,434 $391,268
Roadway Impact Fee Fund $2,389,244 $3,000,000 $5,000,000 $389,244 ($2,000,000)
Police Confiscation Fund $219,257 $0 $80,000 $139,257 ($80,000)
*EstimateAugust 6, 2020 ID 20-1154
3535
FY 2020-21 Proposed Budget by Fund $1,347,671,260
General Fund11%
Debt Service Fund7%
Utilities 30%
Internal Service Funds
7%
Capital Improvement
Program41%
Other Funds4%
August 6, 2020 ID 20-1154
36
Next Steps
• August 6, 2020 – Budget Workshop (Proposed Budget, Police Department)
• August 11, 2020 – Council votes on Max Tax Rate
• August 18, 2020 – Follow-up Budget Presentation
• September 10, 2020 – Tax Rate and Budget Public Hearing
• September 15, 2020 – Budget, CIP, Tax Rate Adoption
August 6, 2020 ID 20-1154
37
Questions?
August 6, 2020 ID 20-1154