Current Budget Year

ReviewFinance DepartmentChristopher M. Quinn, MACC, CPA, CFE, CGFOFinance Director

Tuesday, June 11th, 2013

Where we started Budget by fund

OperatingEstimated Expenditures Capital Operating Total

Fund Type Revenue & Contingency Expenditures Transfers ExpendituresGeneral Fund 25,790,398$ 24,966,773$ 127,625$ 696,000$ 25,790,398$

Special Revenue Funds CDBG Fund 1,078,500 918,500 - 160,000 1,078,500 Police Education Fund 31,765 31,765 - - 31,765 Police Automation Fund 312,660 312,660 - - 312,660 Disaster Reserve Fund 2,198,484 2,198,484 - - 2,198,484 Recycling Revenue Fund 405,400 405,400 - - 405,400 Streets Improvement Fund 17,889,472 375,027 17,514,445 - 17,889,472 Park Impact Fee Fund 453,774 353,774 100,000 - 453,774 Fire Impact Fee Fund 143,245 143,245 - - 143,245 Development Special Projects Fund 1,305,577 1,305,577 - - 1,305,577 Transportation Impact Fee Fund 574,100 574,100 - - 574,100 Neighborhood Stabilization Fund 1,900,000 1,900,000 - - 1,900,000 OKR Special Assessment Fund 264,200 264,200 - - 264,200 BAC Fund 60,225 60,225 - - 60,225 SR100 Community Redevelopment Fund 5,735,844 1,435,844 4,300,000 - 5,735,844 Capital Projects Fund 339,302 4,302 335,000 - 339,302 Sub-Total 32,692,548 9,364,603 22,249,445 - 32,692,548

Enterprise Funds Utility Fund 29,880,644 27,106,626 443,000 2,331,018 29,880,644 Utility Capital Projects Fund 20,540,254 11,792,831 8,747,423 - 20,540,254 Solid Waste Fund 7,400,000 7,400,000 - - 7,400,000 Stormwater Management Fund 7,745,292 4,678,192 2,988,100 79,000 7,745,292 Building Permits & Inspections Fund 1,398,961 1,398,961 - - 1,398,961 Golf Course Fund 1,618,881 1,595,881 - 23,000 1,618,881 Tennis Center Fund 304,278 303,278 - 1,000 304,278 Information Tech & Comm Fund 2,878,300 2,513,900 350,400 14,000 2,878,300 Sub-Total 71,766,610 56,789,669 12,528,923 2,448,018 71,766,610

Internal Service Funds Self Insured Health Fund 3,169,350 3,169,350 - - 3,169,350 Fleet Management Fund 4,070,043 2,244,543 1,825,500 - 4,070,043 Sub-Total All Funds 137,488,949 96,534,938$ 36,731,493$ 3,144,018$ 137,488,949 Less: Interfund Charges and Transfers 12,149,815 12,149,815 Total 125,339,134$ 125,339,134$

Where we started General Fund

GENERAL FUND EXPENSE

PROPOSED

DEPARTMENT

FY 13

General Fund City Council

$95,501

City Manager

361,263

Community Relations

186,810

Purchasing and Contracts Management298,416

Economic Development

295,957

City Clerk

129,617

Human Resources

349,774

Law Enforcement

2,599,863

City Attorney

387,236

Financial Services

692,699

Community Development

3,654,901

Fire

7,283,871

Public Works

5,810,171

Engineering

500,828

Recreation and Parks

2,465,491

Non-Departmental

678,000

Total General Fund

$25,790,398

GENERAL FUND REVENUE

PROPOSED

SOURCE

FY 13

Ad Valorem Taxes

$14,610,000

Permits, Fees and Special Assessments

715,000

Local Business Tax

395,000

Communications Services Taxes

2,700,000

Interest and Other Earnings

295,000

Local Option, Use and Fuel Taxes

425,000

Judgments, Fines & Forfeits

389,000

Intergovernmental Revenue

2,921,988

Miscellaneous Revenues

17,191

Charges for Services

2,360,243

Transfers from Other Funds

961,976

$25,790,398

Where we started Revenue by source

Where we started Expenditures by function

Where are we now?Revenues

General fund: 97% of budgeted ad valorem taxes received to date General fund revenues are tracking ahead of budgetWater and Wastewater Utility Fund: Utility rate increase went into effect April 1st 2013Stormwater Fund: Stormwater Utility fee increase went into effect January 1st

2013Building Fund: Permit revenue is projecting above budgetCapital: Started receiving Small County Surtax which replaced the

infrastructure surtax that expired December 2012.

Where are we now?Tax revenue from the State through May 2013

Where are we now?Expenditures

Overall, City-wide expenditures are tracking at or below budget through May 31, 2013

General Fund Expenditures are on track as of May 31, 2013

Citywide, fuel costs are tracking at approximately 5% over budget for the year

What’s New? Emphasis is being placed on the

Strategic Action Plan being used to guide the budget

Budget Analyst now on staff Quarterly Department Review

What’s New?

What’s New?Budget Analyst

Government Finance Officers Association presented a Distinguished Budget

Presentation Award to The City of Palm Coast for its annual

budget for fiscal year 2013

Coordinates quarterly department review Provides staff with more “hands on” help with day

to day budgetary needs Created “new look” for annual budget book

What’s New?Department Review

Quarterly Review Finance forwards memo to City manager

regarding department’s budgetary compliance

Department head meets with City Manager & with Finance to review their YTD budget

Quarterly progress report provided to City Manager by department head

Performance measures are reviewed

What’s Next? June 18th

2014 Budget Primer Presentation July 2nd

Presentation on property taxes and millage rates July 9th

Budget Workshop - General Fund July 16th

Establish proposed Millage Rate (TRIM rate) July 30th

Budget Workshop - Proprietary Funds August 13th

Budget Workshop - Special Revenue & Capital Funds August 27th

Final Proposed budget presentation

Questions & Discussion