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HomeMy WebLinkAboutItem 03 - FY21 Budget Public HearingMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 1, 2020 SUBJECT: PUBLIC HEARING ON THE FY 2020-2021 OPERATING BUDGET RECOMMENDATION: City Council to conduct a public hearing on the proposed Fiscal Year 2020-2021 annual operating budget. FUNDING SOURCE: BACKGROUND: Pursuant to the Charter of the City of Grapevine, Texas, Section 907, a public hearing on the annual budget shall be held to allow all interested persons to be heard for, or against any item, or the amount of any item therein contained. The public hearing shall commence on September 1, 2020 and final action on the budget shall be taken thereafter. A copy of the proposed FY 2021 budget summary is attached hereto. The budget contains fund expenditures in the following amounts: General Fund $64,519,648 Convention and Visitors Bureau Fund 20,345,029 Convention and Leisure Incentives Fund 4,716,651 Stormwater Drainage Fund 1,344,592 Crime Control & Prevention District Fund 17,808,172 Lake Parks Special Revenue Fund 2,879,687 4-13 / Trinity Metro Fund 9,218,161 Economic Development Fund 3,763,721 Debt Service Fund 15,619,369 Utility Enterprise Fund 24,167,755 Golf Enterprise Fund 3,065,257 Permanent Capital/Street Maintenance Fund 1,790,000 The FY 2021 proposed budget is available for viewing on the City's website, in the City Secretary's Office at City Hall, and at the Grapevine Public Library. GJ/gwl FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 11,452,240 12,851,591 12,185,859 12,185,859 12,237,368 OPERATING REVENUE: Ad Valorem Taxes 11,332,790 11,765,848 13,043,001 12,995,000 13,494,517 Sales Taxes 28,286,627 29,863,646 29,616,580 23,450,000 24,581,761 Mixed Beverage Taxes 1,792,674 2,145,940 2,057,000 2,000,000 1,899,934 Franchise Fees 6,893,151 6,435,472 6,906,950 6,906,950 6,906,950 Licenses & Permits 1,631,113 1,987,404 1,924,422 1,381,794 1,617,296 Charges for Services 12,535,663 8,607,063 9,134,928 7,577,763 9,068,428 Intergovernmental 321,081 384,454 697,687 287,816 344,094 Fines and Forfeitures 1,584,241 1,542,241 1,728,702 1,230,899 1,377,500 Miscellaneous 3,486,795 2,253,113 1,409,000 1,067,582 999,934 Total Operating Revenue 67,864,135 64,985,182 66,518,270 56,897,804 60,290,414 TRANSFERS IN: Admin. Fee - Utility Fund 1,919,146 1,743,710 1,865,000 1,600,000 1,817,850 Admin. Fee - CVB Fund 1,347,770 1,498,333 1,455,526 1,000,000 1,213,537 Admin. Fee - Golf Fund 107,254 106,997 108,000 80,000 108,000 Administrative Fee - SDUS Fund 109,407 112,059 112,000 108,000 108,750 Administrative Fee - Lake Parks Fund 163,088 107,023 689,893 60,000 689,893 Administrative Fee - 4B Fund 326,478 339,626 306,000 250,000 291,204 Transfers In -Housing Authority 109,035 - - - - Total Transfers In 4,082,178 3,907,797 4,536,419 3,098,000 4,229,234 TOTAL REVENUE AND TRANSFERS 71,946,314 68,892,979 71,054,689 59,995,804 64,519,648 OPERATING EXPENDITURES: Personnel 32,014,323 33,462,248 34,466,915 30,500,000 34,239,023 Supplies 3,325,681 3,253,195 3,350,597 2,700,000 3,285,739 Maintenance 1,082,247 1,142,288 1,452,632 1,225,000 1,481,235 Services 11,673,960 13,124,614 12,271,761 11,000,000 11,574,422 Debt Service 138,071 122,768 - - - Capital Outlay 109,711 264,387 105,000 503,467 115,000 Insurance 12,125,820 6,712,060 8,891,956 7,000,000 8,460,337 Total Operating Expenditures 60,469,813 58,081,560 60,538,861 52,928,467 59,155,756 TRANSFERS OUT: To Permanent Capital Maintenance 2,645,000 3,020,000 3,279,000 2,779,000 - To Capital Equipment Acquisition Fund - 3,200,000 830,004 830,004 To Community Quality of Life Fund 3,000,000 3,000,000 3,000,000 - - To Crime Control & Prevention District Fund 2,235,000 3,056,630 3,406,824 3,406,824 5,363,892 To Grants Fund 574,200 - - - - Total Transfers Out 8,454,200 12,276,630 10,515,828 7,015,828 5,363,892 TOTAL EXPENDITURES AND TRANSFERS 68,924,013 70,358,190 71,054,689 59,944,295 64,519,648 SURPLUS (DEFICIT) 3,022,301 (1,465,211) - 51,509 - ENDING FUND BALANCE: 12,851,591 12,185,859 12,185,859 12,237,368 12,237,368 FUND BALANCE REQUIREMENT: 10,501,860 10,770,099 11,372,574 9,875,361 11,831,151 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2020-21 projected Ending Fund Balance represents 20% of total budgeted expenditures (72 days of operation). FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 10,922,698 8,918,787 7,749,784 7,749,784 7,652,910 OPERATING REVENUE: Property Taxes Current 11,132,714 12,209,962 13,001,947 13,001,947 13,000,000 Property Taxes Delinquent 176,492 61,832 70,000 70,000 70,000 Interest Income 195,190 202,653 150,000 150,000 150,000 Total Operating Revenue 11,504,395 12,474,446 13,221,947 13,221,947 13,220,000 TRANSFERS IN: 55,645 598,207 558,957 558,957 525,519 Transfer from CVB Fund 1,195,210 1,057,691 985,670 985,670 998,850 Transfer from Economic Development Fund 1,592,714 1,396,444 1,401,394 1,401,394 1,400,519 Transfer from Capital Projects Fund 309,175 - - - - Bond Proceeds/Refunding/Premiums - 5,984,173 - - - Total Transfers In 3,097,099 8,438,308 2,387,064 2,387,064 2,399,369 TOTAL REVENUE AND TRANSFERS 14,601,494 20,912,754 15,609,011 15,609,011 15,619,369 OPERATING EXPENDITURES: G. O. Bond Interest Payments 3,032,008 2,837,771 3,732,977 3,732,977 3,265,983 G. O. Bond Principal Payments 6,650,000 6,885,000 7,740,000 7,740,000 6,935,000 C. O. Interest Payments 2,196,397 1,825,749 1,076,398 1,076,398 1,622,867 C. O Principle Payments 2,893,694 2,295,590 1,142,553 1,142,553 2,395,000 Tax and Note Interest Payments 55,645 598,207 558,957 558,957 525,519 Tax and Note Principal Payments 792,599 1,410,000 1,455,000 1,455,000 875,000 Fiscal Agent and Bond Fees 15,064 6,229,440 - - - Total Operating Expenditures 15,635,407 22,081,757 15,705,885 15,705,885 15,619,369 TRANSFERS OUT: 970,000 TOTAL EXPENDITURES AND TRANSFERS 16,605,407 22,081,757 15,705,885 15,705,885 15,619,369 SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENDITURES: (2,003,913) (1,169,003) (96,874) (96,874) ENDING FUND BALANCE: 8,918,787 7,749,784 7,652,910 7,652,910 7,652,910 FUND BALANCE REQUIREMENT: 3,084,245 4,355,853 3,098,147 3,098,147 3,081,081 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2020-2021 projected Ending Fund Balance represents 49% of total budgeted expenditures (179 days of operation). 123 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL/STREET MAINTENANCE PROGRAM 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,613,115 1,909,576 1,572,123 1,572,123 2,120,763 OPERATING REVENUE: Interest Income 30,226 53,803 24,000 24,000 24,000 Miscellaneous 67,128 66,516 - - - Total Operating Revenue 97,354 120,319 24,000 24,000 24,000 TRANSFERS IN: 3,114,775 3,020,000 3,279,000 3,279,000 TOTAL REVENUE AND TRANSFERS 3,212,129 3,140,319 3,303,000 3,303,000 24,000 OPERATING EXPENDITURES: Facilities Maintenance 524,960 419,433 392,000 329,280 100,000 Parks Maintenance 699,695 1,088,587 1,162,000 976,080 690,000 Street Maintenance and Overlay 1,229,493 1,312,437 1,225,000 1,029,000 700,000 Traffic Signal, Striping and Signing Maint. 461,522 657,314 500,000 420,000 300,000 Total Operating Expenditures 2,915,670 3,477,771 3,279,000 2,754,360 1,790,000 TOTAL EXPENDITURES AND TRANSFERS 2,915,670 3,477,771 3,279,000 2,754,360 1,790,000 USE OF RESERVES 337,452 - 1,766,000 SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENDITURES: 296,459 - 24,000 548,640 ENDING FUND BALANCE: 1,909,576 1,572,123 1,596,123 2,120,763 354,763 128 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND TOTAL REVENUE & TRANSFERS 23,119,809 24,117,512 23,038,805 14,922,303 19,564,232 OPERATING EXPENDITURES: 2017-18 2018-19 2019-20 2019-20 2020-21 Personnel Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 13,025,855 3,886,038 6,559,708 6,559,708 5,599,349 Maintenance 582,576 442,592 590,500 307,402 309,800 OPERATING REVENUE: 4,945,946 4,039,794 4,692,725 3,258,577 3,955,625 Occupancy Taxes 14,577,354 15,559,289 14,782,796 9,500,050 10,766,300 Facility Rental Income 874,336 774,255 815,000 530,000 762,000 Interest Income 261,730 364,374 181,550 221,550 178,100 Sales & Merchandise 747,459 764,585 748,800 535,179 702,040 Train Operations 2,402,155 2,416,532 2,100,000 3,100,000 2,720,000 Festivals & New Vintage 3,434,008 3,278,530 3,500,000 250,000 3,552,425 Visitor Shuttle System 103,346 77,350 90,000 45,000 60,000 Miscellaneous Income 368,345 353,119 356,173 276,038 359,226 Total Operating Revenue 22,768,732 23,588,033 22,574,319 14,457,817 19,100,091 TRANSFERS IN: 12,000,000 - - - - Transfer In From 4B Fund 348,816 429,479 464,486 464,486 464,141 Operating Trnsfr In - Fund 114 2,261 - - - - Transfer In From Fund 200 - 100,000 - - - Total Transfers In 351,077 529,479 464,486 464,486 464,141 TOTAL REVENUE & TRANSFERS 23,119,809 24,117,512 23,038,805 14,922,303 19,564,232 OPERATING EXPENDITURES: 32,396,856 21,367,117 22,556,423 15,882,662 20,345,029 Personnel 6,019,864 6,050,074 7,009,317 5,361,718 6,568,222 Supplies 677,447 731,917 869,550 622,585 611,150 Maintenance 582,576 442,592 590,500 307,402 309,800 Services 4,945,946 4,039,794 4,692,725 3,258,577 3,955,625 Insurance - 1,130,045 1,308,164 1,149,374 1,356,455 Festival & Train Operations 4,907,481 5,221,410 5,522,261 3,100,000 5,286,390 Capital Outlay 525,244 1,145,261 31,000 28,336 - Total Operating Expenditures 17,658,558 18,761,093 20,023,517 13,827,992 18,087,642 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,347,770 1,498,333 1,455,526 1,000,000 1,213,537 Transfer to GTRP Fund 25,000 25,000 25,000 25,000 20,000 Trans. to Debt Service Fund 1,195,210 1,057,691 1,008,380 985,670 998,850 Transfer to Historic Preservation Fund 145,318 - - - - Transfer to Capital Projects Fund 12,000,000 - - - - Transfer to Heritage Fund 25,000 25,000 44,000 44,000 25,000 Total Transfers Out 14,738,298 2,606,024 2,532,906 2,054,670 2,257,387 TOTAL EXPENDITURES & TRANSFERS 32,396,856 21,367,117 22,556,423 15,882,662 20,345,029 SURPLUS / (DEFICIT) (9,277,047) 2,750,395 482,382 (960,359) (780,797) ENDING FUND BALANCE: 3,886,038 6,559,708 7,042,090 5,599,349 4,818,552 FUND BALANCE REQUIREMENT: 2,902,777 3,084,015 3,291,537 2,273,095 2,973,311 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2020-21 projected Ending Fund Balance represents 97 days of operation. FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND LEISURE INCENTIVES FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 10,774,995 13,131,802 13,706,975 13,706,975 11,375,757 OPERATING REVENUE: 3,122,370 4,715,692 4,996,210 4,986,218 4,716,651 Occupancy Taxes - Gaylord 1,962,405 2,242,812 2,106,352 1,300,000 1,534,054 Occupancy Taxes - Great Wolf 499,584 - - - - Occupancy Taxes - All (1%) 2,836,114 2,965,201 2,814,858 1,300,000 2,050,059 Interest Income 186,823 79,413 75,000 50,000 50,000 Miscellaneous (5,750) 3,440 - 5,000 75,000 Total Operating Revenue 5,479,177 5,290,865 4,996,210 2,655,000 3,709,113 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 5,479,177 5,290,865 4,996,210 2,655,000 3,709,113 OPERATING EXPENDITURES: Personnel - - - - - Supplies 100,263 101,199 100,000 99,800 60,000 Services 3,022,107 4,614,493 4,896,210 4,886,418 4,656,651 Total Operating Expenditures 3,122,370 4,715,692 4,996,210 4,986,218 4,716,651 TRANSFERS OUT: - - - - TOTAL EXPENDITURES AND TRANSFERS 3,122,370 4,715,692 4,996,210 4,986,218 4,716,651 SURPLUS / (DEFICIT) 2,356,807 575,173 - (2,331,218) (1,007,538) ENDING FUND BALANCE: 13,131,802 13,706,975 13,706,975 11,375,757 10,368,219 RESERVES: Reserved for Incentive Packages 4,700,000 4,700,000 4,700,000 4,700,000 4,700,000 Total Reserves 4,700,000 4,700,000 4,700,000 4,700,000 4,700,000 UNRESERVED FUND BALANCE 8,431,802 9,006,975 25 9,006,975 6,675,757 5,668,219 STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,552,470 1,860,977 1,989,073 1,989,073 2,059,504 OPERATING REVENUE: 1,154,169 1,483,302 1,403,131 1,396,629 1,344,592 Drainage Utility Fees 1,435,920 1,571,370 1,440,000 1,437,120 1,420,000 Interest Income 21,420 25,969 22,500 22,455 22,500 Interest Income - 2000 C.O. 5,899 8,017 7,500 7,485 7,500 Miscellaneous (567) 1,302 - - - Total Operating Revenue 1,462,672 1,606,659 1,470,000 1,467,060 1,450,000 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 1,462,672 1,606,659 1,470,000 1,467,060 1,450,000 OPERATING EXPENDITURES: 1,154,169 1,483,302 1,403,131 1,396,629 1,344,592 Personnel 533,062 509,937 559,846 558,726 544,184 Supplies 19,676 21,894 29,700 29,641 29,700 Maintenance 115,988 138,868 125,000 124,750 125,000 Services 313,125 198,377 204,525 204,116 206,792 Insurance - 159,824 162,060 161,736 120,166 Capital Outlay 62,911 342,343 210,000 209,660 210,000 Total Operating Expenditures 1,044,762 1,371,243 1,291,131 1,288,629 1,235,842 TRANSFERS OUT: Transfer to General Fund - Admin Fee 109,407 112,059 112,000 108,000 108,750 Total Transfers Out 109,407 112,059 112,000 108,000 108,750 TOTAL EXPENDITURES AND TRANSFERS 1,154,169 1,483,302 1,403,131 1,396,629 1,344,592 SURPLUS / (DEFICIT) 308,503 123,357 66,869 70,431 105,408 ENDING FUND BALANCE: 1,860,977 1,989,073 2,055,942 2,059,504 2,164,912 FUND BALANCE REQUIREMENT: 189,284 243,262 230,113 229,047 220,513 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2020-21 projected Ending Fund Balance represents 639 days of operation. 29 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT TRANSFERS IN: Transfer from General Fund 2017-18 2018-19 2019-20 2019-20 2020-21 Total Transfers In Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (343,841) (759,398) (1,045,343) (1,045,343) (3,817,190) OPERATING REVENUE: 12,392,580 518,211 200,695 - 3,408,984 12,918,238 573,055 113,535 2,911,128 1,674,119 13,379,045 566,339 154,300 3,068,318 1,260,612 13,352,287 565,206 153,991 3,062,181 1,258,091 12,957,073 566,339 134,300 2,869,848 1,280,612 Sales Tax (1/2 cent) 13,670,499 14,563,884 14,808,290 12,000,000 12,290,880 Commercial Vehicle Enforcement 106,396 80,510 107,000 106,786 107,000 Interest Income 64,703 187,402 100,000 99,800 35,000 Miscellaneous 28,316 33,878 6,500 6,500 11,400 Total Operating Revenue 13,869,915 14,865,674 15,021,790 12,213,086 12,444,280 TRANSFERS IN: Transfer from General Fund 2,235,000 3,056,630 3,406,824 3,406,824 5,363,892 Total Transfers In 2,235,000 3,056,630 3,406,824 3,406,824 5,363,892 TOTAL REVENUE AND TRANSFERS 16,104,915 17,922,304 18,428,614 15,619,910 17,808,172 OPERATING EXPENDITURES: Personnel Supplies Maintenance Insurance Services 12,392,580 518,211 200,695 - 3,408,984 12,918,238 573,055 113,535 2,911,128 1,674,119 13,379,045 566,339 154,300 3,068,318 1,260,612 13,352,287 565,206 153,991 3,062,181 1,258,091 12,957,073 566,339 134,300 2,869,848 1,280,612 Total Operating Expenditures 16,520,470 18,190,075 18,428,614 18,391,757 17,808,172 TOTAL EXPENDITURES AND TRANSFERS 16,520,470 18,190,075 18,428,614 18,391,757 17,808,172 SURPLUS / (DEFICIT) (415,555) (267,771) - (2,771,847) - ENDING FUND BALANCE: (759,398) (1,045,343) (1,045,343) (3,817,190) (3,817,190) 35 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (2,359,485) (2,290,551) (3,418,748) (3,418,748) (2,742,032) OPERATING REVENUE: Boat Ramp Fees 97,783 61,037 92,800 92,614 50,000 Pavilion Fees 67,153 42,525 56,000 55,888 56,000 Camping Fees 1,947,840 923,070 2,240,000 2,235,520 2,260,000 Entrance Fees 234,154 89,260 155,000 154,690 205,000 Recreation Fees 125,966 153,212 338,000 337,324 298,000 Merchandise and Other Sales 68,895 63,853 88,000 87,824 101,000 Total Operating Revenue 2,541,791 1,332,958 2,969,800 2,963,860 2,970,000 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 2,541,791 1,332,958 2,969,800 2,963,860 2,970,000 OPERATING EXPENDITURES: Personnel 286,052 380,182 440,402 439,521 377,262 Supplies 206,257 137,688 184,250 183,882 178,150 Maintenance 261,517 475,584 301,750 301,147 310,750 Services 1,489,300 1,193,851 1,062,416 1,060,291 1,092,029 Insurance - 56,853 86,629 86,456 79,603 Capital Outlay 15,629 58,318 156,000 155,848 152,000 Finance Charges - - - - - Total Operating Expenditures 2,258,755 2,302,476 2,231,447 2,227,144 2,189,794 TRANSFERS OUT: Transfer to General Fund - Admin Fee 163,088 107,023 689,893 60,000 689,893 Total Transfers Out 163,088 107,023 689,893 60,000 689,893 TOTAL EXPENDITURES AND TRANSFERS 2,421,843 2,409,499 2,921,340 2,287,144 2,879,687 SURPLUS / (DEFICIT) 119,948 (1,076,541) 48,460 676,716 90,313 ENDING FUND BALANCE: (2,290,551) (3,418,748) (3,370,288) (2,742,032) (2,651,719) 51 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 357 8,784 16,961 16,961 26,961 OPERATING REVENUE: Sales Tax 9,815,379 10,476,439 11,106,218 9,000,000 9,218,161 Interest Income 8,427 8,176 10,000 7,000 10,000 Total Operating Revenue 9,823,806 10,484,616 11,116,218 9,007,000 9,228,161 TRANSFERS IN: TOTAL REVENUE AND TRANSFERS 9,823,806 10,484,616 11,116,218 9,007,000 9,228,161 OPERATING EXPENDITURES: Contractual Services - Trinity Metro 9,466,562 10,046,960 10,641,732 8,532,514 8,754,020 Total Operating Expenditures 9,466,562 10,046,960 10,641,732 8,532,514 8,754,020 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 348,816 429,479 464,486 464,486 464,141 Total Transfers Out 348,816 429,479 464,486 464,486 464,141 TOTAL EXPENDITURES AND TRANSFERS 9,815,378 10,476,439 11,106,218 8,997,000 9,218,161 SURPLUS / (DEFICIT) 8,428 8,177 10,000 10,000 10,000 ENDING FUND BALANCE: 8,784 16,961 26,961 26,961 36,961 79 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122,124) 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 17,500,237 5,201,059 5,773,970 5,773,970 6,339,885 OPERATING REVENUE: Sales Tax 4,256,509 4,393,875 4,402,073 3,000,000 3,653,721 Interest Income 179,326 144,127 125,000 90,000 110,000 Miscellaneous 16,930,000 4,232,422 - - - Total Operating Revenue 21,365,834 8,770,425 4,527,073 3,090,000 3,763,721 TRANSFERS IN: 627,905 - - - - TOTAL REVENUE AND TRANSFERS 21,993,739 8,770,425 4,527,073 3,090,000 3,763,721 OPERATING EXPENDITURES: Personnel Services 487,265 512,099 523,466 522,419 533,637 Supplies 6,678 9,233 6,300 6,287 5,600 Maintenance - 6,712 - - - Services 1,098,204 707,735 2,231,816 286,004 1,481,620 Insurance - 66,293 58,097 57,981 51,141 Debt Service 17,212,082 - - - - Total Operating Expenditures 18,804,229 1,302,072 2,819,679 872,692 2,071,998 TRANSFERS OUT 14,591,741 1,736,070 1,707,394 1,651,394 1,691,723 TOTAL EXPENDITURES AND TRANSFERS 33,395,970 3,038,142 4,527,073 2,524,086 3,763,721 SURPLUS / (DEFICIT) (11,402,231) 5,732,283 - 565,915 - I ENDING FUND BALANCE AVAILABLE: 5,201,059 5,773,970 5,773,970 6,339,885 6,339,885 84 FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING UNRESTRICTED FUND BALANCE: 17,230,681 16,629,044 14,139,853 14,139,853 14,931,772 OPERATING REVENUE: 28,002,123 26,615,999 23,948,788 23,639,620 24,167,755 Water Sales 16,577,391 14,607,637 15,700,000 15,668,600 15,650,000 Wastewater Sales 8,371,685 8,033,819 8,000,000 7,984,000 8,000,000 Tap & Inspection Fees 143,010 151,124 77,000 76,846 85,000 Reconnects & Transfers 201,264 196,299 203,000 202,594 203,000 Interest Income 302,191 307,081 300,000 299,400 300,000 Miscellaneous Income 7,170,113 6,935,920 200,500 200,099 200,500 Total Operating Revenue 32,765,654 30,231,881 24,480,500 24,431,539 24,438,500 TRANSFERS IN/CONTRIBUTIONS: 6,506 556,794 - - - TOTAL REVENUE AND TRANSFERS 32,772,160 30,788,674 24,480,500 24,431,539 24,438,500 OPERATING EXPENDITURES: 28,002,123 26,615,999 23,948,788 23,639,620 24,167,755 Personnel 3,334,962 3,609,966 3,847,850 3,840,154 3,892,334 Supplies 684,184 699,016 890,960 889,178 1,184,760 Maintenance 1,016,244 920,689 1,512,100 1,509,076 1,525,900 Services 14,008,448 11,543,196 13,300,200 13,273,600 13,266,549 Debt Service 584,747 1,534,798 1,130,569 1,128,308 1,122,619 Insurance - 920,619 952,109 950,205 1,027,743 Capital Outlay 369,658 544,005 450,000 449,100 330,000 Total Expenditures 19,998,243 19,772,289 22,083,788 22,039,620 22,349,905 TRANSFERS OUT: 8,003,880 6,843,710 1,865,000 1,600,000 1,817,850 TOTAL EXPENDITURES AND TRANSFERS 28,002,123 26,615,999 23,948,788 23,639,620 24,167,755 SURPLUS / (DEFICIT) 4,770,037 4,172,675 531,712 791,919 270,745 ENDING UNRESTRICTED WORKING CAPITAL: 16,629,044 14,139,853 14,671,565 14,931,772 15,202,517 WORKING CAPITAL REQUIREMENT: 3,199,719 3,163,566 3,533,406 3,526,339 3,575,985 * Working capitalrequirement is 16% of total net budgeted expenditures or 60 days of operation. The FY 2020-21 projected Ending Working Capital Balance represents 248 days of operation. FY 2020-21 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2017-18 2018-19 2019-20 2019-20 2020-21 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: (1,086,616) (856,471) (856,471) (856,471) (828,687) OPERATING REVENUES: 3,132,154 3,329,856 3,198,262 3,191,865 3,066,808 Cart and Club Rentals 657,058 644,914 664,000 662,672 637,440 Tournament Fees 2,250 1,920 4,000 3,992 3,840 Driving Range 198,286 192,725 193,654 193,267 185,908 Golf Pro Shop Sales 247,092 244,364 245,000 244,510 230,000 Golf Course Green Fees 1,430,023 1,426,621 1,425,000 1,422,150 1,369,556 Annual Green Fee Memberships 273,157 266,750 326,000 325,348 312,960 Restaurant % of Sales 35,889 31,396 37,000 36,926 35,520 Lesson Income 27,366 15,381 35,000 34,930 33,600 Interest Income 2,712 2,962 3,000 2,994 3,000 Golf Sub -Lease 244,961 267,491 242,000 241,516 232,320 Miscellaneous Income 13,361 235,333 23,608 23,561 22,664 Total Operating Revenue 3,132,154 3,329,856 3,198,262 3,191,865 3,066,808 TRANSFERS IN/CONTRIBUTIONS: TOTAL REVENUES AND TRANSFERS 3,132,154 3,329,856 3,198,262 3,191,865 3,066,808 OPERATING EXPENDITURES: Personnel 1,357,987 1,337,802 1,490,231 1,487,251 1,485,633 Supplies 392,073 819,182 385,600 384,829 387,000 Maintenance 103,274 107,131 110,400 110,179 112,333 Services 830,566 333,792 404,045 403,237 395,135 Insurance - 426,979 457,986 457,070 432,156 Capital Outlay 87,051 149,104 242,000 241,516 145,000 Total Operating Expenditures 2,770,951 3,173,990 3,090,262 3,084,081 2,957,257 TRANSFERS OUT: Transfer to General Fund - Admin Fee 107,254 106,997 108,000 80,000 108,000 Total Transfers Out 107,254 106,997 108,000 80,000 108,000 TOTAL EXPENDITURES AND TRANSFERS 2,878,205 3,280,987 3,198,262 3,164,081 3,065,257 SURPLUS / (DEFICIT) 253,949 48,869 - 27,784 1,551 * Fund balance requirement is 25% of total net budgeted expenses or 90 days of operation. City Council has suspended the fund balance requirement for the Golf Fund for FY 2020-21. 26