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HomeMy WebLinkAboutItem 06 - Budget Public HearingMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER VIL" MEETING DATE: AUGUST 16, 2016 SUBJECT: PUBLIC HEARING ON THE FY 2016-2017 BUDGET RECOMMENDATION: That the City Council conduct a public hearing on the proposed FY2016-2017 annual budget. The budget contains fund expenditures in the following amounts: General Fund $63,521,031 Convention and Visitors Bureau Fund 20,249,230 Convention and Visitors Bureau Incentives Fund 4,265,983 Stormwater Drainage Fund 1,440,369 Crime Control & Prevention District Fund 15,354,370 Lake Parks Special Revenue Fund 2,052,728 4B Transit Fund 20,374,235 Economic Development Fund 3,476,791 Debt Service Fund 14,368,343 Utility Enterprise Fund 24,807,457 Utility Permanent Capital Maintenance Fund 1,870,000 Golf Enterprise Fund 2,951,534 General Permanent Capital Maintenance Fund 1,523,000 Permanent Street Maintenance Fund 1,756,000 Capital Equipment Acquisitions 1,639,000 BACKGROUND: Pursuant to the Charter of the City of Grapevine, Texas, Section 907, a public hearing on the annual budget shall be held to al ow 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 August 16, 2016 and final action on the budget shall be taken at the Regular City Council meeting on September 6, 2016. A copy of the proposed FY 2017 budget summary is attached hereto. August 5, 2016 (11:24AM) FY 2017 PROPOSED C PERATING BUDGET STATEMENT OF REVENUE, EXPENDITUI ES AND CHANGES IN FUND BALANCE GENERA FUND 2013-14 2014-15 2015-16 2015-16 2016-17 Description Actual Actual Adopted Blot Estimate Proposed We BEGINNING FUND BALANCE: 11,961,680 12,918,230 13,402,188 13,402,188 13,519,115 OPERATING REVENUE: Ad Valorem Taxes 8,458,736 8,460,482 8,526,389 9,738,121 9,036,995 Sales Taxes 26,376,697 27,306,949 28,500,000 27,986,317 27,846,386 Mixed Beverage Taxes 1,566,664 1,647,776 1,695,892 1,695,892 1,695,892 Franchise Fees 6,785,151 6,824,481 6,679,719 4,750,079 6,679,719 License & Permits 1,382,865 1,573,601 1,364,173 1,400,874 1,450,376 Charges for Services 8,577,552 9,719,328 9,860,653 10,966,316 10,808,026 Intergovernmental 83,062 127,119 86,482 86,492 94,577 Fines and Forfeitures 2,195,666 1,899,682 2,058,696 1,704,543 1,916,560 Miscellaneous 1,156,783 983,126 740,991 1,032,334 716,650 Total Operating Revenue 56,583,176 58,542,544 59,512,995 59,360,967 60,245,181 TRANSFERS IN: Admin Fee - Utility Fund 1,595,766 1,587,535 1,850,976 1,861,369 1,863,675 Admin Fee - CVB Fund 1,147,952 1,346,398 963,012 1,056,052 1,038,520 Admin Fee - Golf Fund 110,340 75,709 114,000 80,414 112,500 Admin Fee - SDUS Fund 104,008 104,423 105,029 84,123 106,425 Admin Fee - Lake Parks Fund 167,524 84,745 121,050 44,022 150,450 Admin Fee - Economic Development - 299,207 - 131,778 261,060 Admin Fee-4B Fund 283,450 - 261,651 - - Total Transfers In 3,409,040 3,498,018 3,415,718 3,257,758 3,532,630 TOTAL REVENUE AND TRANSFERS 59,992,216 62,040,562 62,928,713 62,618,725 63,777,811 OPERATING EXPENDITURES: Personnel 26,375,937 27,376,972 29,130,635 29,145,912 29,745,335 Supplies 2,775,983 3,174,553 3,303,721 3,219,033 3,298,192 Maintenance 935,247 895,635 983,093 900,021 1,042,316 Services 9,615,166 10,245,367 10,198,454 10,001,898 10,516,418 Capital Outlay 106,780 208,617 62,000 150,006 69,720 Insurance 9,538,539 10,883,546 10,716,200 10,200,394 11,388,050 Total Operating Expenditures 49,347,652 52,784,690 54,394,103 53,617,264 56,060,031 TRANSFERS OUT: To Permanent Capital Maintenance 2,809,000 3,279,000 3,279,000 3,279,000 3,279,000 To Permanent Street Maintenance To Capital Equipment Acquisition Fund 1,676,000 1,202,000 1,906,099 1,906,099 982,000 To Community Quality of Life Fund 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 To Crime Control and Prevention District Fund 1,175,000 700,000 200,000 To Economic Development Fund 1,000,000 4,624 To Capital Improvement Projects Fund - - 200,000 699,436 - To Convention and Visitors Fund 28,014 33,463 Total Transfers Out 9,688,014 8,219,087 8,385,099 8,884,535 7,461,000 TOTAL EXPENDITURES AND TRANSFERS 59,035,666 61,003,777 62,779,202 62,501,799 63,521,031 ENDING FUND BALANCE: 12,918,230 13,402,188 13,551,699 13,519,115 13,775,896 FUND BALANCE REQUIREMENT: 9,744,713 10,556,938 10,878,821 10,723,453 11,212,006 • Fund balance requirement is 20% of total budgeted expenditures (72 days of c perations). . The FY17 projected ending fund balance represents 25% of total budgeted exp nditures (90 days of operations) FY 2016-17 APPROVED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 4,706,140 5,354,981 8,912,175 8,912,175 10,843,192 Supplies 2,588,0 4 803,470 1,013,674 683,351 849,111 OPERATING REVENUE: 251,2 8 218,520 403,600 244,537 266,100 Occupancy Taxes 12,548,3f 0 13,504,011 12,242,880 11,991,326 12,651,734 Facility Rental Income 677,013 751,417 884,000 750,295 926,000 Interest Income 2 5 457 10,000 664 1,000 Sales & Merchandise 311,8(5 410,126 415,026 361,470 402,000 Train Operations 1,661,2:9 2,040,524 1,691,750 1,610,000 1,900,000 Festivals & New Vintage 3,466,423 3,642,044 3,372,000 3,343,758 3,474,000 Visitor Shuttle System 145,9(6 148,757 148,000 114,100 152,000 Miscellaneous Income 272,0--8 303,817 354,892 313,812 375,292 Total Operating Revenue 19,083,1 8 20,801,152 19,118,548 18,485,424 19,882,026 TRANSFERS IN: 0 0 11,963 0 450,000 Transfer from 4B Economic Devl. Fund 365,1-,9 350,590 372,500 226,856 371,103 Transfer from General Fund 28,014 33,463 0 0 0 Total Transfers In 393,193 384,053 372,500 226,856 371,103 TOTAL REVENUE & TRANSFERS 19,476,301 21,185,205 19,491,048 18,712,281 20,253,129 OPERATING EXPENDITURES: Personnel 5,224,0-,1 5,249,802 5,884,517 5,439,709 6,147,521 Supplies 2,588,0 4 803,470 1,013,674 683,351 849,111 Maintenance 251,2 8 218,520 403,600 244,537 266,100 Services 2,532,4 9 4,188,619 4,878,658 4,119,923 5,537,112 Festival & Train Operations 3,978,2 .4 3,841,317 4,475,100 4,314,934 4,796,800 Capital Outlay 37,400 18,935 104,000 63,897 58,000 Total Operating Expenditures 14,611,4 76 14,320,663 16,759,549 14,866,351 17,654,644 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,147,952 1,346,398 963,012 833,268 1,038,520 Transfer to GTRP Fund 30,000 25,000 25,000 0 25,000 Trans. to Debt Service Fund 2,038,900 1,935,950 1,081,644 1,081,644 1,081,066 Transfer to Capital Projects Fund 999,1 2 0 400,000 0 0 Transfer to Ca ital EqUiD Ac uisition Fund 0 0 11,963 0 450,000 Total Transfers Out 4,215,984 3,307,348 2,481,619 1,914,912 2,594,586 TOTAL EXPENDITURES & TRANSFERS 18,827,460 17,628,011 19,241,168 16,781,263 20,249,230 SURPLUS / (GAP) 648,841 3,557,194 249,880 1,931,017 3,899 ENDING FUND BALANCE: 5,354,981 8,912,175 9,162,055 10,843,192 10,847,091 FUND BALANCE REQUIREMENT: 2,401,886 2,354,082 2,754,994 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2016-17 projected Ending Fund Balance represe is 224 days of operation. 2,443,784 2,902,133 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION & VISITORS BUREAU INCENTIVES FUND 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 0 665,625 3,435,762 3,435,762 3,697,993 OPERATING REVENUE: Occupancy Taxes - Gaylord 1,476,759 1,709,086 1,632,958 1,600,000 1,698,276 Occupancy Taxes - Great Wolf 0 474,065 472,500 470,000 491,400 Occupancy Taxes - All (1%) 0 2,415,805 2,300,680 2,250,000 2,473,568 Interest Income 2,354 9,271 3,600 20,301 15,000 Change in Investment Value (5 5) (75) 0 (8,067) 0 Sponsor Income 26,450 14,560 0 9,998 0 Miscellaneous 130 15,000 0 0 0 Total Operating Revenue 1,505,168 4,637,712 4,409,738 4,342,232 4,678,244 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1,505,158 4,637,712 4,409,738 4,342,232 4,678,244 OPERATING EXPENDITURES: Personnel 0 0 0 0 0 Supplies 101,028 161,479 133,000 100,000 107,000 Maintenance 0 0 0 0 0 Services 738,514 1,706,096 4,276,738 3,980,000 4,158,983 Capital Outlay 0 0 0 0 0 Total Operating Expenditures 839,542 1,867,575 4,409,738 4,080,000 4,265,983 TRANSFERS OUT: 0 0 0 0 0 TOTAL EXPENDITURES AND TRANSFERS 839,542 1,867,575 4,409,738 4,080,000 4,265,983 SURPLUS / (GAP) 665,625 2,770,136 0 262,232 412,261 ENDING FUND BALANCE: 665,625 3,435,762 3,435,762 3,697,993 4,110,254 RESERVES: Reserved for Incentive Packages 0 1,700,000 1,700,000 1,700,000 1,700,000 Total Reserves 0 1,700,000 1,700,000 1,700,000 1,700,000 UNENCUMBERED / UNRESERVED FUND BALANCE 1,735,762 1,735,762 1,997,993 2,410,254 24 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND 2013-14 2014-15 2015-16 2015-16 2016-17 A tual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 2,024,086 1,361,292 985,018 985,018 1,049,977 OPERATING REVENUE: Drainage Utility Fees 1,383,959 1,390,438 1,400,392 1,400,000 1,419,003 Interest Income 959 950 1,000 1,500 1,000 Interest Income - 2000 C.O. 43 65 46 210 50 Miscellaneous 07 77,536 0 (723) 0 Total Operating Revenue 1,384,753 1,468,989 1,401,438 1,400,987 1,420,053 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1,384,753 1,468,989 1,401,438 1,400,987 1,420,053 OPERATING EXPENDITURES: Personnel 466,563 416,230 483,701 493,898 502,872 Supplies 35,777 18,841 44,700 16,048 44,700 Maintenance 89,869 104,232 125,000 94,881 125,000 Services 242,191 252,931 249,906 320,840 319,372 Capital Outla 579,704 589,871 185,000 72,663 197,000 Total Operating Expenditures 1,414,104 1,382,105 1,088,307 998,330 1,188,944 TRANSFERS OUT: Transfer to General Fund - Admin Fee 104,008 104,423 105,029 88,502 106,425 Transfer to Debt Service Fund 319,436 318,735 0 0 0 Transfer to Equipment Ac uisition Fund 210,000 40,000 186,897 249,196 145,000 Total Transfers Out 633,444 463,158 291,926 337,698 251,425 TOTAL EXPENDITURES AND TRANSFERS 2,047,548 1,845,263 1,380,233 1,336,028 1,440,369 SURPLUS / (GAP) (662,794) (376,274) 21,205 64,959 (20,316) ENDING FUND BALANCE: 1,361 292 985,018 1,006,223 1,049,977 1,029,661 FUND BALANCE REQUIREMENT: 232,455 227,195 178,900 164,109 195,443 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2016-17 projected Ending Fund Balance represents 316 days of operation. 27 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 776,919 1,087,443 1,740,048 1,740,048 1,662,130 OPERATING REVENUE: Sales Tax (1/2 cent) 12,630,599 13,196,743 14,250,000 13,993,159 13,923,193 Commercial Vehicle Enforcement 153,662 146,165 164,000 150,000 164,000 Interest Income 760 2,216 1,000 10,100 1,000 Miscellaneous 1,643 4,108 0 5,560 0 Total Operating Revenue 12,786,665 13,349,232 14,415,000 14,158,819 14,088,193 TRANSFERS IN: Transfer from General Fund 1,000,000 700,000 0 0 200,000 Total Transfers In 1,000,000 700,000 0 0 200,000 TOTAL REVENUE AND TRANSFERS 13,786,665 14,049,232 14,415,000 14,158,819 14,288,193 OPERATING EXPENDITURES: Personnel 10,243,314 10,110,798 10,800,997 10,218,950 11,214,903 Supplies 757,899 635,178 780,660 514,862 889,747 Maintenance 120,321 118,899 110,800 112,447 133,100 Services 2,336,528 2,531,752 2,327,076 3,017,998 3,054,620 Capital Outlay 18,080 0 0 0 0 Total Operating Expenditures 13,476,141 13,396,627 14,019,533 13,864,257 15,292,370 TRANSFERS OUT: Transfer to Special Revenue Fund 0 0 0 0 0 Transfer to Capital Equip. Acquisition Fund 0 0 372,479 372,479 62,000 Total Transfers Out 0 0 372,479 372,479 62,000 TOTAL EXPENDITURES AND TRANSFERS 13,476,141 13,396,627 14,392,012 14,236,736 15,354,370 SURPLUS / (GAP) 310,524 652,605 22,988 (77,917) (1,066,177) ENDING FUND BALANCE: 1,087,443 1,740,048 1,763,036 1,662,130 595,953 FY 2016-17 PROPOS: STATEMENT OF REVENUE, EXPENDI' LAKE PARKS SPE 2013-1 BEGINNING FUND BALANCE: (820,93 OPERATING REVENUE: 2016-17 Boat Ramp Fees 103,22 Pavilion Fees 52,86 Camping Fees 1,525,38 Entrance Fees 392,05 Recreation Fees (1,470,888) Merchandise Sales 85,79 Interest & Misc. Income 50,35 Total Operating Revenue TRANSFERS IN: OPERATING BUDGET tES AND CHANGES IN FUND BALANCE 1L REVENUE FUND 2014-15 2015-16 2015-16 2016-17 Actual Adopted Bdgt Estimate Proposed Bdgt (1,100,605) (1,470,888) (1,470,888) (2,351,406) 100,536 222,667 Supplies 268,83 50,337 112,500 40,000 105,000 31,734 46,500 50,000 75,000 906,316 1,162,500 250,000 1,471,000 114,247 292,500 125,000 315,000 0 0 7,094 40,000 36,379 71,250 11,000 85,000 49,034 40,000 16,837 25,000 1,188,048 1,725,250 499,931 2,116,000 0 0 0 0 TOTAL REVENUE AND TRANSFERS 2,209,672 1,188,048 1,725,250 499,931 2,116,000 OPERATING EXPENDITURES: Personnel 190,86 96,929 156,248 100,536 222,667 Supplies 268,83 104,168 184,100 35,613 259,100 Maintenance 197,77 54,656 111,000 224,432 118,000 Services 1,248,65 832,030 1,209,091 651,637 1,227,511 Capital Outlay 91,72 6,918 81,000 30,383 75,000 Disaster Recovery 57,871 0 303,113 0 Total Operating Expenditures 1,997,84 1,152,572 1,741,439 1,345,714 1,902,278 TRANSFERS OUT: Transfer to General Fund - Admin Fee 167,522 84,745 121,050 34,736 150,450 Transfer to Debt Service Fund 323,97 321,014 0 0 0 Total Transfers Out 491,49 405,759 121,050 34,736 150,450 TOTAL EXPENDITURES AND TRANSFERS 2,489,347 1,558,331 1,862,489 1,380,450 2,052,728 SURPLUS / (GAP) (279,67) (370,283) (137,239) (880,519) 63,272 ENDING FUND BALANCE: (1,100,60) (1,470,888) (1,608,127) (2,351,406) (2,288,134) FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDI 17URES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2013 14 2014-15 2015-16 2015-16 2016-17 Ac ual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 16,154,778 6,883,186 11,181,914 11,181,914 11,181,914 OPERATING REVENUE: Sales Tax 13,012,438 13,556,070 14,250,000 13,993,159 13,923,193 Interest Income 5,919 10,875 6,000 23,539 33,000 Miscellaneous 19,500,0)0 5,775,030 0 0 0 Total Operating Revenue 32,518,07 19,341,975 14,256,000 14,016,698 13,956,193 TRANSFERS IN: Transfer in from Visitor Shuttle Fund 0 0 0 0 0 Total Transfers In 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 32,518,407 19,341,975 14,256,000 14,016,698 13,956,193 OPERATING EXPENDITURES: Personnel 0 0 0 0 0 Supplies 0 0 0 0 0 Services 713,534 137,488 7,046,398 12,877 7,051,043 Contractual Services - The T 3/8 Cent 8,829,1 4 9,222,903 9,740,000 9,524,869 9,471,292 Community Distributions 100,000 0 0 0 0 Capital Outlay 29,498,6153 0 0 0 0 Total Operating Expenditures 39,141,371 9,360,391 16,786,398 9,537,746 16,522,334 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 365,179 350,590 372,500 370,000 371,103 Transfer to Economic Development Fund 2,000,0)0 5,136,157 3,562,500 3,498,290 3,480,798 Transfer to Parks Open Space Fund 0 196,108 0 0 0 Transfer to General Fund - Admin Fee 283,450 0 0 0 0 Total Transfers Out 2,648,6i9 5,682,855 3,935,000 3,868,290 3,851,901 TOTAL EXPENDITURES AND TRANSFERS 41,790,0 0 15,043,246 20,721,398 13,406,036 20,374,235 SURPLUS / (GAP) (9,271,5)2) 4,298,728 6,465,398) 610,662 6,418,042 ENDING FUND BALANCE: 6,883,196 11,181,914 4,716,516 11,792,576 4,763,872 RESERVES: Reserved for Economic Development Projects 638,256 1,231,815 1,831,815 1,831,815 2,431,815 Reserved for Train Station Improvements 6,244,930 9,950,099 2,884,701 9,960,761 2,332,056 Total Reserves 6,883,1 6 11,181,914 4,716,516 11,792,576 4,763,872 68 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND 2C 13-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 0 3,909,596 6,132,861 6,132,861 7,025,955 OPERATING REVENUE: Interest Income 416 6,855 16,197 15,386 16,000 Miscellaneous 0 62 0 0 0 Total Operating Revenue 416 6,917 16,197 15,386 16,000 TRANSFERS IN: Transfer in from General Fund 1,00 ,000 4,624 0 0 0 Transfer in from 4B Fund 2,00 ,000 5,136,157 3,562,500 3,498,290 3,480,798 Transfer in from TIF 1 Fund 1,00 ,000 0 0 0 0 4,00 ,000 5,140,781 3,562,500 3,498,290 3,480,798 TOTAL REVENUE AND TRANSFERS 4,00 ,416 5,147,698 3,578,697 3,513,675 3,496,798 OPERATING EXPENDITURES: Personnel 41,541 392,325 443,923 443,089 458,725 Supplies 733 14,173 7,800 7,006 7,800 Services 41 ,546 586,702 1,184,062 315,051 1,156,643 Capital Outlay 0 0 0 0 0 Total Operating Expenditures 91,820 993,199 1,635,785 765,146 1,623,168 TRANSFERS OUT: Transfer to General Fund - Admin Fee 0 299,207 261,651 260,000 260,214 Transfer to Debt Service Fund 0 1,594,027 1,595,436 1,595,436 1,593,409 Transfer to Capital Equip Fund 0 38,000 0 0 0 Total Transfers Out 0 1,931,234 1,857,087 1,855,436 1,853,623 TOTAL EXPENDITURES AND TRANSFERS 91,820 2,924,434 3,492,872 2,620,582 3,476,791 SURPLUS / (GAP) 3,90 ,596 2,223,265 85,825 893,094 20,007 ENDING FUND BALANCE: 3,90 ,596 6,1329861 6,218,686 7,025,955 7,045,962 72 FY 2016-17 PROPOSED OPE R ATING BUDGET STATEMENT OF REVENUE, EXPENDITURES kND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 16,119,415 16, 20,164 17,358,438 17,358,438 14,494,076 OPERATING REVENUE: Property Taxes - Current 11,699,335 11, 91,483 11,529,929 11,500,000 11,586,719 Property Taxes - Delinquent 75,883 47,450 70,000 43,849 70,000 Interest Income 9,719 30,241 20,000 34,112 20,000 Total Operating Revenue 11,784,937 11, 69,175 11,619,929 11,577,961 11,676,719 TRANSFERS IN: Transfer from Municipal Ct. Technology Fund 23,607 55,825 0 0 0 Transfer from CVB Fund 2,038,900 1,)35,950 1,081,644 1,081,644 1,081,066 Transfer from SDUS Fund 319,436 18,735 0 0 0 Transfer from Lake Parks Fund 323,973 21,014 0 0 0 Transfer from Economic Development Fund 0 1, 94,027 1,595,436 1,595,436 1,593,409 Bond Proceeds/Refunding/Premiums 0 13, 85,676 0 0 0 Total Transfers In 2,705,916 18, 11,227 2,677,080 2,677,080 2,674,475 TOTAL REVENUE AND TRANSFERS 14,490,853 29, 80,402 14,297,009 14,255,041 14,351,194 OPERATING EXPENDITURES: G.O. Bond Interest Payments 4,043,398 3,580,435 3,363,121 3,363,121 3,224,033 G.O. Bond Principal Payments 6,035,000 7,300,000 5,170,000 5,170,000 4,820,000 C.O. Interest Payments 504,496 1,451,360 3,934,575 3,934,575 3,652,874 C.O. Principal Payments 1,116,736 1,708,386 1,635,095 1,635,095 2,026,864 Tax and Note Interest Payments 164,702 97,315 69,285 69,285 56,756 Tax and Note Principal Payments 1,824,234 1,400,341 571,533 571,533 587,816 Fiscal Agent & Bond Fees 1,538 260,969 7,000 7,000 0 Revenue Bond Principal & Interest Payments 0 0 0 2,368,794 0 Pyrat to Refund Bond Escrow Agent 0 13, 43,322 0 0 0 Total Operating Expenditures 13,690,104 29, 42,128 14,750,609 17,119,403 14,368,343 TRANSFERS OUT: 0 0 0 0 0 TOTAL EXPENDITURES AND TRANSFERS 13,690,104 29, 42,128 14,750,609 17,119,403 14,368,343 SURPLUS / (GAP) 800,749 438,274 (453,600) (2,864,362) (17,149) ENDING FUND BALANCE: 16,920,164 17, 58,438 16,904,838 14,494,076 14,476,927 FUND BALANCE REQUIREMENT: 2,700,514 5,827,488 2,909,709 3,376,978 2,834,303 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2016-17 projected Ending Fund Balance represents 368 days of operation. 114 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2012-13 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING WORKING CAPITAL: 6,625,733 6,253,108 7,203,511 6,062,579 6,062,579 5,196,125 OPERATING REVENUE: Water Sales 12,058,529 3,215,522 13,216,512 15,789,592 11,642,751 16,096,803 Wastewater Sales 6,629,881 7,645,169 7,581,393 8,592,093 7,407,341 8,454,198 Tap & Inspection Fees 137,145 146,079 130,709 48,000 144,957 48,000 Reconnects & Transfers 180,945 198,860 202,128 200,000 218,304 200,000 Interest Income 139,910 13,712 29,810 50,000 41,129 50,000 Miscellaneous Income 559,582 981,418 789,171 250,000 1,126,319 250,000 Prior Period Adjustment 0 11821,349 0 0 0 Total Operating Revenue 19,705,991 22,200,761 20,128,375 24,929,685 20,580,801 25,099,001 TRANSFERS IN: 0 45,350 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1997059991 2,246,110 20,128,375 2499299685 20,5809801 25,099,001 OPERATING EXPENDITURES: 13,1049911 Personnel 2,916,458 3,182,925 3,247,519 3,122,618 3,377,528 Supplies 632,368 631,773 453,119 766,649 430,368 815,493 Maintenance 433,868 692,362 37,803 428,719 2999262 4379700 Services 11,635,415 11,7959493 12,551,234 13,847,529 11,934,633 13,907,567 Debt Service 2,859,089 2,820,365 3,0329695 293719794 2,298,675 2,222,994 Permanent Capital Maint. 329,694 655,037 423,995 1,000,000 975,000 1,870,000 Capital Outla 0 0 0 727,750 535,723 312,500 Total Expenditures 18,806,893 199699,941 19,681,771 22,389,960 19,596,279 22,943,782 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,271,724 1,595,766 195879535 1,850,976 1,850,976 1,863,675 Transfer to Capital Equipment Fund 0 0 0 21,424 0 0 Total Transfers Out 1,271,724 1,595,766 1,587,535 1,872,400 1,850,976 1,863,675 TOTAL EXPENDITURES AND TRANSFERS 20,078,616 21,295,707 21,269,306 24,262,360 21,447,255 24,807,457 SURPLUS / GAP 372,625 950,403 1,140,932 667,325 866,454 291,544 ENDING WORKING CAPITAL: 6,253,108 7,203,511 6,062,579 6,729,904 5,196,125 5,487,669 FUND BALANCE REQUIREMENT: 3,091,544 3,238,346 3,235,360 3,680,541 3,221,306 3,771,581 * Fund balance requirement is 16% of total net budgeted expenses or 60 days of operation. The FY 2016-17 projected Ending Working Capital Balance represents 87 days of operation. 1 FY 2016-17 PROPOS D OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: 3,120, 63 2,977,481 4,009,837 4,009,837 4,061,113 OPERATING REVENUE: Cart and Club Rentals 759,988 517,908 795,000 457,594 775,000 Tournament Fees 4,650 2,950 6,500 1,600 6,500 Driving Range 162,135 137,922 186,000 123,663 185,000 Golf Pro Shop Sales 182,492 152,912 228,000 141,971 203,500 Golf Course Green Fees 1,471, 01 1,009,453 1,520,000 976,371 1,500,000 Annual Green Fee Memberships 152,847 121,374 150,000 167,000 150,000 Restaurant % of Sales 42,271 27,884 45,500 18,474 44,200 Lesson Income 7,410 6,882 25,000 10,704 20,000 Interest Income 131 267 155 372 155 Golf Sub -Lease 197,838 189,647 200,000 113,518 200,000 Miscellaneous Income 36,656 342,755 21,500 55,098 21,500 Prior Period Adjustment 0 616,398 0 0 0 Total Operating Revenue 3,017, 20 1,893,555 3,177,655 2,066,365 3,105,855 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 3,017, 20 1,893,555 3,177,655 2,066,365 3,105,855 OPERATING EXPENDITURES: Personnel 1,114, 99 1,164,779 1,340,568 908,992 1,336,646 Supplies 360,180 333,297 363,513 212,917 334,629 Maintenance 56, 33 75,261 127,676 50,368 184,978 Services 753, 74 727,941 634,777 465,597 695,904 Debt Service 478, 13 533,937 0 0 0 Capital Outlay 0 0 365,998 342,929 286,877 Permanent Capital Maint. 0 0 0 0 0 Disaster Recovery 0 14,987 73,388 Total Operating Expenditures 2,763, 98 2,850,202 2,832,532 2,054,192 2,839,034 TRANSFERS OUT: Transfer to General Fund - Admin Fee 110,340 75,709 114,000 63,450 112,500 Total Transfers Out 110,340 75,709 114,000 63,450 112,500 TOTAL EXPENDITURES AND TRANSFERS 2,874, 38 2,925,911 2,946,532 2,117,642 2,951,534 SURPLUS / (GAP) 143, 82 (1,032,356) 231,123 (51,277) 154,321 ENDING WORKING CAPITAL: (2,977, 81) (4,009,837) (3,778,714) (4,061,113) (3,906,792) 23 FY 2016-17 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDIrURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL / STREET MAINTENANCE PROGRAM 2013-14 2014-15 2015-16 2015-16 2016-17 Actual Actual Adopted Bdgt Estimate Proposed Bdgt BEGINNING FUND BALANCE: 1,788, 62 1,853,281 1,917,885 1,917,885 1,921,689 OPERATING REVENUE: Interest Income E54 4,348 3,500 6,881 3,500 Miscellaneous 0 0 0 0 0 Total Operating Revenue 854 4,348 3,500 6,881 3,500 TRANSFERS IN: 2,809, 00 3,279,000 3,279,000 3,279,000 3,279,000 TOTAL REVENUE AND TRANSFERS 2,809, 54 3,283,348 3,282,500 3,285,881 3,282,500 OPERATING EXPENDITURES: Facilities Maintenance 474,06 533,746 500,000 423,514 426,000 Parks Maintenance 391, 92 849,696 1,095,000 1,042,187 1,097,000 Street Maintenance and Overlay 1,574, 61 1,430,445 1,255,000 1,050,040 1,255,000 Traffic Signal, Stripingand Signing Maint. 304, 01 404,857 429,000 400,000 501,000 Total Operating Expenditures 2,744, 36 3,218,743 3,279,000 2,915,741 3,279,000 TRANSFERS OUT: Transfer to Quality of Life CIP Fund 0 0 0 16,336 0 Transfer to General Facilities CIP Fund 0 0 0 350,000 0 Total Transfers Out 0 0 0 366,336 0 TOTAL EXPENDITURES AND TRANSFERS 2,744, 36 3,218,743 3,279,000 3,282,077 3,279,000 SURPLUS / (GAP) 65,019 64,604 3,500 3,804 3,500 ENDING FUND BALANCE: 1,853, 81 1,917,885 1,921,385 1,921,689 1,925,189 116