tuesday, april 15 th , 2014
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Year to Date Budget Review. Tuesday, April 15 th , 2014. Christopher M. Quinn , MACC, CPA, CFE, CGFO, CGMA Finance Director Lina Williams Budget & Financial Analyst. Budget Preparation Timeline. January First Quarter Review February Financial Audit March - PowerPoint PPT PresentationTRANSCRIPT
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Year to Date Budget Review
Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMAFinance Director
Lina WilliamsBudget & Financial Analyst
Tuesday, April 15th, 2014
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Budget Preparation TimelineJanuary
First Quarter Review February
Financial AuditMarch
Presentation of Annual Progress Report and Citizen Survey Results Revise 10 Year Infrastructure Plan
April Presentation of the Year to Date Budget Second Quarter Review Budget Input Begins for Departments
May Annual Update of the Strategic Action Plan Fund Presentation Long Term Financial Planning Presentation
June Revenue Source Presentation Property Tax Presentation
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Budget Preparation TimelineJuly
General Fund Budget Workshop Adopt Proposed Millage Rate Proprietary Funds Budget Workshop Third Quarter Review
August Special Revenue & Capital Fund Budget Workshop Final Proposed Budget Presentation
September Public Hearing to Tentatively Adopt Millage Rate & Budget Public Hearing to Adopt Final Millage Rate & Budget
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Where we started Budget by fund
Total General Fund 26,863,408$
Special Revenue Funds 32,356,846
Enterprise FundsUtility Fund 32,925,750 Utility Capital Projects Fund 15,976,000 Solid Waste Fund 7,400,000 Stormwater Management Fund 7,776,233 Building Permits & Inspections Fund 1,423,212 Golf Course Fund 1,525,960 Tennis Center Fund 327,385 Information Technology Fund 2,891,610
Internal Services FundsSelf Insured Health Fund 3,270,245 Fleet Management Fund 4,387,163
Subtotal Budget All Funds 137,123,812$ Less: Interfund Transfers 14,470,800 Total 122,653,012$
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Where we started General Fund
GENERAL FUND REVENUES GENERAL FUND EXPENDITURESPROPOSED PROPOSED
SOURCE FY 14 DEPARTMENT FY 14Ad Valorem Taxes $14,978,500 General Fund Permits, Fees and Special Assessments 756,600 City Council $95,672Local Business Tax 395,000 City Manager 363,316Communications Services Taxes 2,650,000 Community Relations 348,982Interest and Other Earnings 295,000 Purchasing and Contracts Management 252,142Local Option, Use and Fuel Taxes 425,000 Economic Development 284,945Judgments, Fines & Forfeits 679,000 City Clerk 145,076Intergovernmental Revenue 3,291,465 Human Resources 340,319Miscellaneous Revenues 65,000 Law Enforcement 2,599,863Charges for Services 2,535,843 City Attorney 394,276Transfers from Other Funds 792,000 Financial Services 702,866Appropriated Fund Balance - Community Development 3,789,944
$26,863,408 Fire 7,347,270Public Works 6,109,176Engineering 528,624Recreation and Parks 2,569,430Non-Departmental 991,507
Total General Fund $26,863,408
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Where we started Revenue by source
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Where we started Expenditures by function
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Where are we now?Revenues
Overall revenues are tracking on budget• General Fund• Water/Wastewater• Solid Waste• Stormwater
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Where are we now?Revenues
Building revenues are tracking ahead of budget• Water Impact Fees• Wastewater Impact Fees• Recreation Impact Fees• Fire Impact Fees• Transportation Impact Fees• Zoning Fees• Planning Fees
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Where are we now?Revenues
Building Permit Revenue
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Where are we now?Revenues
Number of Permits Issued
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Where are we now?Tax revenue from the State through March 2014
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Where are we now?Expenditures
Overtime10 division are ahead of budget for overtimeFour major causes have been identified
• Staffing vacancies 42%• Starlight tornado 27%• Operational needs 23%• Increase in development 8%
Not anticipated to be an issue at this time
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Where are we now?Expenditures
Capital ProjectsCapital projects are being overseen by the
Infrastructure TeamAll projects are meeting budget expectationsProject timeline is being updated quarterly
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What’s New?New “Finance Reports & Documents” section on
the City Website Presentations - Financial Reports - Quarterly
Progress Reports & More!
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What’s New?Budget at a Glance
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What’s New?Staff is now participating in the government
finance officers association (GFOA)budget reviewer program
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What’s New?Long Range Financial Planning Process Defined
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Finance Review • Budget compliance
review • YTD budget review with
department• Memo to City Manager
regarding findings
Department Review • Review performance
measures• Prepare quarterly progress
report • Schedule meeting with City
Manager
Annual Strategic Action Plan Review
Annual Progress Report
Annual Budget
City Manager Review
• Budget YTD review and findings by finance
• Performance measures review
• Quarterly progress report
What’s New?Quarterly Review Process Continues to Improve
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What’s Next?May
13th - Fund Review Presentation27th - Long Term Financial Planning Presentation
June10th - Revenue Source Presentation24th - Property Tax Primer Presentation
July8th - Budget Workshop - General Fund15th - Budget Workshop - Adopt Proposed Millage Rate29th - Budget Workshop - Proprietary Funds
August12th Budget Workshop – Special Revenue Funds & Capital Funds 26th - Final Proposed Budget Presentation
September3rd - Public Hearing to tentatively adopt millage rate and budget17th - Final Public Hearing to adopt final millage and budget
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Questions & Discussion