Year to Date Budget Review

Lina WilliamsBudget & Financial Analyst

Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMAFinance Director

Tuesday, April 28th, 2015

Budget Preparation TimelineJanuary

First Quarter Review February

Financial AuditMarch

Presentation of Annual Progress Report and Citizen Survey Results Revise 10 Year Infrastructure Plan

April Second Quarter Review FY 2016 Budget Input Begins for Departments Annual Update of the Strategic Action Plan Presentation of the Year to Date Budget

May Fund Presentation Long Term Financial Planning Presentation

June Revenue Source Presentation Property Tax Presentation

Budget Preparation TimelineJuly

General Fund Budget Workshop Adopt Maximum 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

October – November FY 2015 Year End Close-out

November – December End of Year Review Citizen’s Survey

Where we started Budget by fund

FUND FY 15General Fund 29,189,443$

Special Revenue Funds 40,803,439

Utility Fund 33,823,780

Utility Capital Projects Fund 12,919,000

Solid Waste Fund 7,373,520

Stormwater Management Fund 7,762,071

Building Permits Fund 2,730,683

Information Technology Fund 2,563,605

Enterprise Funds 67,172,659

Internal Services Funds 8,231,374

Subtotal Budget All Funds 145,396,915$ Less: Interfund Transfers 16,290,143

Total 129,106,772$

Where we started Revenue by Source

Where we started What do Property Taxes Pay For?

Ad Valorem Taxes, 11.0%

$16 million

Where we started Expenditures by Category

Personal Services

19%

Operating Expenses

27%Capital Outlay

35%

Debt Service

10%

Grants & Aide<1%

Transfers to Other Funds5%

Contingency4%

Where are we now? Revenues

Overall, revenues are tracking on budget• General Fund• Water/Wastewater• Stormwater• Building Permit Fund

Where are we now? State Pass-Through RevenueThrough March 31st

STATE REVENUE SHAR-ING

LOCAL OPTION FUEL SMALL COUNTY SURTAX 1/2 CENT SALES TAX COMMUNICATIONS SERVICES TAX

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000 Cu

rren

t YTD

Bud

get;

$900

,000

Curr

ent Y

TD B

udge

t; $7

91,0

00

Curr

ent Y

TD B

udge

t; $1

,185

,750

Curr

ent Y

TD B

udge

t; $1

,187

,500

Curr

ent Y

TD B

udge

t; $1

,250

,000

Curr

ent Y

TD A

ctua

l; $8

24,6

49

Curr

ent Y

TD A

ctua

l; $8

12,4

82

Curr

ent Y

TD A

ctua

l; $1

,212

,558

Curr

ent Y

TD A

ctua

l; $1

,174

,469

Curr

ent Y

TD A

ctua

l; $1

,258

,015

Previous YTD Budget vs. Current YTD Actual

Current YTD Budget Current YTD Actual

FY 2015 Budget vs. Actual:With the exception of the State Revenue Sharing and the Half-Cent Sales Tax, all state revenue collections are currently at or ahead of budget through March.

Where are we now? Building Permit Fund RevenueThough March 31st

2013 2014 2015300,000

400,000

500,000

600,000

700,000

800,000

900,000

425,382

821,779839,403

Where are we now? Single Family Residential PermitsThough March 31st

FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY20150

20

40

60

80

100

120

140

160

180

October November December January February March

Where are we now? Expenditures

Overall, expenditures are on target for the year• Electric is tracking ahead of

budget• Fuel costs are significantly below

budgetCapital projects continue to be

overseen by the Infrastructure Team• All projects are meeting budget

expectations• PA-1 Water control structure failure

estimated to have an impact on the budget of approximately $450,000

What’s new? Additions to the Strategic Planning Process

Planning For

Results

Tracking Results

Reporting Results

Citizen Survey (December)

Director Evaluation (January)

Annual Progress Report (February)

Strategic Action Plan Review (March)

Budget Preparation (April - Aug.)

Budget Adoption (September)

Process Evaluation (October)

End of Year Review (November)

Vision

What’s Next? May

12th - Fund Review Presentation26th - Long Term Financial Planning Presentation

June9th - Revenue Source Presentation30th - Property Tax Primer Presentation

July14th - Budget Workshop - General Fund21st - Budget Workshop - Adopt Maximum Millage Rate28th - Budget Workshop - Proprietary Funds

August11th Budget Workshop – Special Revenue Funds & Capital Funds 25th - Final Proposed Budget Presentation

SeptemberPublic Hearing to tentatively adopt millage rate and budgetFinal Public Hearing to adopt final millage and budget