city of homewood state of the city address scott … state... · insurance fund $ 9,403. e911 $...
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CITY OF HOMEWOOD
STATE OF THE CITY ADDRESS
SCOTT MCBRAYER, MAYOR
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CHIEF JOHN A. BRESNANFINAL CALLJANUARY 10, 2020
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The City began the year with an approved budget that had revenues equaling expenditures; therefore, no planned use of carryover fund balance.
* Actual preliminary pre-audited operating results show the City will complete the 2019 fiscal year with a surplus of approximately $1.2 millionThis was accomplished after funding $370,000 in employee bonuses and transferring $1,000,000 to the Capital Projects Fund
Our auditors are currently conducting our financial statement audit and final audit results should be available soon.
The amount of 1 cent sales tax transferred to the Debt Service Fund during the fiscal year was $8.9 million.
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General Fund Checking (plus Payroll) $ 5,091,830General Public Funds Invest – Bryant Bank $ 192,133General Public Funds Invest- Iberia Bank $ 9,180,060Reserve for Economic Uncert Fund $ 11,376,931Grants Funds $ 42,053 7 Cents Gas Tax Fund $ 746,7864 & 5 Cents Gas Tax Fund $ 490,336Debt Service Fund $ 13,201,940Capital Projects $ 3,569,853Environmental Escrow $ 83,285Insurance Fund $ 9,403
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E911 $ 1,519,497Corrections - Jail $ 262,433Corrections - Court $ 787,870Sales Tax Fund $ 3,087,320Court Special $ 154,392Inspection Tech Fund $ 89,773GOW 16 Construction Fund-Raymond James $ 28,944,942 ****GOW 16 Public Safety-Iberia Bank $ 1,188,775GOW 16 WHWD Park/Pool-Iberia Bank $ 836,004GOW 16 HWD BOE- Iberia Bank $ 106,835Judicial Administration Fund $ 470,945Control Account $ 3,139,636
TOTAL $ 84,573,032**** This account holds 2016 bond proceeds to be used for West Homewood Park/Pool,
new Public Safety Center, and the BOE school infrastructure improvements
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REVIEW OF PAST YEARSu ANNUAL FISCAL YEAR-END SURPLUS ADDED TO FUND BALANCE OF THE GENERAL FUND
2010 - $351,232
2011 - $464,677
2012 - $2,070,037
2013 - $279,559
2014 - $410,377
2015 - $285,574 AFTER paying $375K in bonuses and transferring $1,000,000 to Capital Projects Fund
2016 - $401,657 AFTER paying $375K in bonuses and transferring $700K to the Capital Projects Fund
2017 - $410,247 AFTER paying $323K in bonuses and transferring $500K to the Capital Projects Fund
2018- $709,988 AFTER paying $325K in bonuses, transferring $1,000,000 to the Capital Projects Fund and $1,000,000 to Debt Service Fund.
2019- est $1,225,000 AFTER paying $370,000 in bonuses and transferring $1,000,000 to
Capital Projects Fund (PRE-AUDITED)
Total $6,608,348 - 10 year Average = $660,834
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2019-2020 Budget Overview
TOTAL GENERAL FUND BUDGET $ 54,405,145
Capital Fund Budgeted Revenues $ 2,250,391Transfer from Debt Service/Grants Fund $ 5,399,892 NOTE 1Budgeted Use of Fund Balance $ 3,193,301 NOTE 2
TOTAL CAPITAL BUDGET $ 10,843,584
Above Budget Numbers are the Original Budget numbers approved by Council effective 10/1/19
NOTE 1: $3.2 Million transferred from Debt Service to Capital Projects for fire engine and vehicle purchases. $2.1 Million transferred from Grants Fund for Greenway, 18th Street, Oxmoor and Central Avenue Capital Projects.
NOTE 2: The use of fund balance will only be required if all capital projects are completed in this fiscal year.
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RECENTLY COMPLETED CAPITAL PROJECTS
HOMEWOOD ATHLETIC COMPLEX
THE POOL AT PATRIOT PARK
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RECENTLY COMPLETED CAPITAL PROJECTS
ROSEDALE SPRING PARK
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Ongoing Capital Projects
u Lakeshore/I65 Diamond Interchange
u New Public Safety Facility
u Samford Pocket Park
u Oxmoor Road Improvements – Turkey Foot
u Library Expansion
u Continued New Sidewalk Construction and ADA Compliance of Existing Sidewalks
u Greenway II Construction
u 18th Street Renovation
u Continued Paving
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u Continued Construction of Public Safety Center/Court and BOE School Projects
u Mayor Budgeted in FY 19-20 and Council approved a 2.5% COLA
u Redevelopment Plan for 18th Street
u Renovation of Greensprings Highway
u Library Expansion
u New Fire station on Greensprings Highway
2019-2020Opportunities