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Home My WebLink AboutItem 02 - FY 2002-2003 BudgetX F4 u• s, FROM: MEETING DATE: SUBJECT RECOMMENDATION: ITEM Y-- HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL ROGER NELSON, CITY MANAGER 0 SEPTEMBER 3, 2002 PUBLIC HEARING ON THE FY 2002-2003 BUDGET That the City Council conduct a public hearing on the proposed FY2002-2003 Annual Budget. The budget, as amended to include the service levels from the City Council workshop held on August 21, 2002 contains fund expenditures in the following amounts: General Fund Utility Fund Debt Service Fund Convention & Visitors Bureau Fund Lake Enterprise Fund General Government Capital Project Fund Permanent Street Maintenance Fund Permanent Capital Maintenance Fund — General Utility & Lake Enterprise Capital Projects Fund Utility Permanent Capital Maintenance Fund Stormwater Drainage Utility Fund BACKGROUND: $38,396,414 16,361,088 11,809,510 5,371,177 2,368,429 12,600,619 860,000 170,900 4,917,048 826,612 1,270,457 In compliance with the "truth -in -taxation" laws the City of Grapevine published its "effective" and "rollback" tax rates in the Fort Worth Star Telegram on August 7, 2002. 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 3, 2002 and final action on the budget shall be taken at a special meeting on September 10, 2002. The City Council must adopt the annual budget no later than fifteen days prior to the beginning of the fiscal year. WAG/cjc H:AGMBGT2002-9-3 August 23, 2002 (3:37PM) FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE GENERAL FUND Revenues 1999-2000 2000-01 Actual Actual Ad Valorem Taxes 8,215,367 8,254,367 Sales & Use Taxes 14,849,154 16,586,140 Franchise Fees 3,986,781 4,399,165 Licenses & Permits 1,417,384 1,083,389 Charges for Services 1,258,018 1,252,325 Intergovernmental Revenue 182,862 49,187 Fines and Forfeitures 2,360,028 2,149,638 Miscellaneous Revenue 2,547,893 6,890,519 Total Expenditures Personnel Supplies Maintenance Services Operating Transfers Out Property & Casualty Health Insurance Permanent Capital Maintenance Permanent Street Maintenance Capital Outlay 34,817,488 1999-2000 Actual 21,018,651 1,878,324 1,419,265 7,079,687 475,918 0 0 324,737 900,000 492,165 40,664,729 2000-01 Actual 24,689,420 1,997,424 1,383,357 7,896,750 61,725 0 0 220,045 389,489 4,618,548 2001-02 2002=-03 Approved Proposed 6,584,767 7,162,963 17,050,000 - 16,480,000'! 4,295,000 4,941,000 1,539,721 1,472,490 2,808,973 3,298,069 225,990 195,924 2,096,200 1`,961,000 2,884,739 2,884,968 37,485,390 38,396,41.4 2001-02 2002-03 Approved Proposed! 24,371,742 24,924,314 2,364,207 2,467,940 865,839 915,769 4,588,015 4,875,118 112,058 32,058 979,438 1,129,828 2,772,904 2,994,736 231,900 170,900 890,000 860,000 261,854 25,750 Total 33,588,747 41,256,757 37,437,958 38,396,4141 Contribution to Fund Balance (Revenues over Expenditures) 0 Percent Change 8.78% -3.34% 15.04% -4.37% 17.41% -13.30% -6.45% 0.01% 2.43% Percent Change 2.27% 4.39% 5.77% 6.26% -71.39% 15.35% 8.00% -26.30% -3.37% -90.17% 2.56% FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE GENERAL FUND Fund Balance Summary Beginning Fund Balance Projected Contribution to Fund Balance 1999-2000 Actual 6,891,337 2000-01 Actual 7,732,646 2001-02 Projected 6,940,417 47,433 2002-03> Proposed 6,637,850 0 Ending Fund Balance 8,132,646 7,140,417 6,987,850 6,637,850 Interfund Loan to CVB Fund (400,000) (200,000) (350,000) 0 Adjusted Ending Fund Balance 7,732,646 6,940,417 6,637,850 6,637,850 Fund Balance Requirement * 6,154,185 6,311,739'' Balance over / (under) Requirement 483,665 326,110' * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2002-03 projected Adjusted Ending Fund Balance represents 63 days of operation. FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE UTILITY ENTERPRISE FUND Revenues 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change Miscellaneous Income 76,723 223,630 10,000 75,000 650.00% Water Sales 9,071,880 8,993,118 9,547,625 9,622,542 0.78% Raw Water Sales 105,505 98,236 144,000 164,300 14.10% Wastewater Sales 5,133,839 5,083,277 5,948,777 5,762,427 -3.13% Water Tap Fees 142,256 75,380 120,000 80,000 -33.33% Wastewater Tap Fees 19,220 11,715 20,000 10,000 -50.00% Utility Inspection Fee 108,178 83,235 67,000 80,000 19.40% Reconnect and Transfer Charges 242,346 280,816 200,000 200,000 0.00% Interest Income 507,442 569,724 450,000 450,000 0.00% Total 15,406,884 15,419,131 16,507,402 16,444,269 -0.38% Expenditures 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change Personnel 1,915,840 2,147,354 2,084,984 2,133,902 2.35% Supplies 377,999 435,824 422,521 470,388` 11.33% Maintenance 425,040 389,413 311,449 311,249 -0.06% Services 5,991,835 6,224,303 7,217,660 6,970,803 -3.42% Utility Bond Payments 4,615,068 5,365,344 4,302,505 4,300,813 -0.04% Permanent Capital Maint. 62,118 317,786 1,000,000 826,612 ` -17.34% Capital Outlay 121,206 0 114,000 114,000 0.00% Transfers 1,121,933 1,150,369 1,238,055 1,233,320 `; -0.38% Total 14,631,039 16,030,393 16,691,174 16,361,088 -1.98% Retained Earnings (Revenues over Expenditures) 83,181 FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE UTILITY ENTERPRISE FUND NEW PROGRAMS AND SERVICES PROPOSED FOR FY -2003 Projected (Included in line items listed above) Fund Impact Water Conservation Devices 11,495 Cross Connection Control Program 43,473' Fund Balance Summary 1999-2000 2000-01 Actual Actual 2001-02 2002-03 Budget Proposed Beginning Working Capital Balance 6,264,709 7,040,554 7,782,794 7,594,030 Projected Contribution to Retained Earnings (183,772) 83,181 Ending Working Capital Balance 7,040,554 7,782,794 7,594,030 7,677,211 Working Capital Requirement Balance over Requirement 2,405,102 2,635,133 2,743,755 2,689,494: 4,635,452 5,147,661 4,850,275 4,987,718 Working Capital balance requirement is 16.4% of total budgeted expenses or 60 days of operation. The FY 2002-03 projected ending working capital balance represents 171 days of operation. FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE DEBT SERVICE FUND Revenues 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed i Change Property Taxes - Current 6,621,121 7,383,697 10,178,825 9,471,057 -6.95% Property Taxes - Delinquent 22,273 49,479 65,000 65,000 0.00% Transfers from Other Funds 591,783 389,958 1,062,959 1,040,173 -2.14% Palace Equity Contribution 0 0 343,214 349,378 1.80% Interest Income 176,122 183,464 175,000 -125,000' -28.57% Other Financing Resources 0 0 0 758,903 NA Proceeds from Bond Issues 0 4,385,000 0 0` 0.00% Total 7,411,299 12,391,598 11,824,998 11,809,510` -0.13% Expenditures 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change G.O. Bond Interest Payments 4,873,834 3,767,923 4,051,868 3,910,112 -3.50% G.O. Bond Principal Payments 2,382,152 4,080,000 4,465,000 4,830,000 8.17% C.O. Interest Payments 0 0 1,280,933 1,043,220 -18.56% C.O. Principal Payments 0 0 1,540,000 1,670,000' 8.44% Palace Arts Center Payments 0 4,332,723 343,214 349,;378; 1.80% Fiscal Agent & Bond Fees 2,839 53,891 6,800 6,800 0.00% Total 7,258,826 12,234,538 11,687,815 11,809,510 1.04% Contribution to Fund Balance (Revenues Over Expenditures) 0 Fund Balance Summary 1999-2000 2000-01 2001-02 2002-03 Actual Actual Budget Proposed Beginning Fund Balance 1,460,118 1,612,591 1,769,652 1,906,835 Contribution to Fund Balance 152,473 157,060 137,183 0 Ending Fund Balance 1,612,591 1,769,652 1,906,835 1,906,835 Fund Balance Requirement 1,588,119 Balance Over Requirement 318,716 Fund balance requirement is 16.4% o of total current budgeted net debt service expenditures or 60 days of operation. The FY 2002-03 proposed ending fund balance represents 72 days of operation. FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE CONVENTION & VISITORS BUREAU FUND Revenues 1999-2000 2000-01 2001-02 2002-03- Percent Actual Actual Budget Proposed Change Hotel / Motel Tax 4,108,943 3,970,383 3,822,000 3,610,407 -5.54% Convention Center Rental 343,473 384,079 420,000 330,014 -21.43% Interest Income 48,582 60,596 35,000 8,000 -77.14% Concourse % of Sales 20,763 22,701 20,500 18,250 -10.98% Merchandise Resale 89,529 112,558 124,500 101,450' -18.51% Catering % of Sales 34,491 32,890 12,800 14,300 11.72% Miscellaneous Income 2,979 0 16,397 15,400 -6.08% Contributions - Excursion Train 0 200,000 170,000 50,000 -70.59% Train Ticket Sales 0 294,643 782,668 835,000' 6.69% Train Food and Beverage Sales 0 26,227 72,740 72,740` 0.00% Train Merchandise Resale 0 1,335 16,000 16,000 0.00% Train Charters and Special Events 0 84,520 149,030 230,400' 54.60% Total 4,651,740 5,189,932 5,641,635 5,301,961 -6.02% Expenditures 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change Personnel 1,539,813 1,964,346 2,324,387 2,324,843' 0.02% Supplies 1,354,259 1,170,418 1,014,984 833,712 -17.86% Maintenance 71,576 265,760 62,500 17,806 -71.51% Services 538,583 1,220,483 1,051,516 -1,106,936 5.27% Permanent Capital Maintenance 0 30,729 20,000 20,000' 0.00% Transfers 830,802 1,020,289 1,109,493 1,062,580' -4.23% Capital Outlay 27,190 40,811 18,000 5,300 -70.56% Total 4,362,222 5,712,836 5,600,880 5,371,177' -4.10% Contribution to Fund Balance ;(Revenues over Expenditures) (69,216) FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE CONVENTION & VISITORS BUREAU FUND Fund Balance Summary Beginning Fund Balance Contribution to Fund Balance General Fund Interfund Loan Opryland Marketing Agreeme Ending Fund Balance Fund Balance Requirement Balance over Requirement 1999-2000 2000-01 Actual Actual 1,169,901 1,574,402 289,518 (522,904) 400,000 (400,000) (400,000) (300,000) 1,574,402 327,643 939,096 (611,454) 2001-02 2002-03 Budget Proposed' 327,643 368,397 40,755 (69,216) 350,000 0 (350,000) 0 368,397 299,181 920,693 882,933' (552,296) (583,752) * Fund balance requirement is 16.4% of total budgeted expenses or 60 days of operation. The FY 2002-03 projected ending fund balance represents 24 days of operation. FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE LAKE ENTERPRISE FUND Revenues 1999-2000 2000-01 2001-02 2002-03 Percent 2000-01 Actual Actual Budget Proposed Change Cart Rentals 598,535 613,550 560,000 682,000 21.79% Tournament Fees 9,350 7,700 6,250 6,000 -4.00% Driving Range 6,890 7,905 6,000 - 9,000 50.00% Golf Pro Shop % of Sales 21,004 20,608 20,000 20,000 0.00% Golf Course Green Fees 1,190,212 1,326,962 1,514,540 1,533,300 1.24% Restaurant % of Sales 52,751 43,187 60,000 60,000 0.00% Lesson Income 15,970 20,150 10,000 16,000' 60.00% Interest Income 82,839 84,008 80,000 35,000 -56.25% Miscellaneous Income 12,692 5,965 30,000 120,000 300.00% Other Financing Sources - PCMF (8,691) 973,540 0 0 0.00% Total 1,980,246 3,103,575 2,286,790 2,481,300 8.51% Expenditures 1999-2000 2000-01 2001-02 2002.03 Percent Actual Actual Budget Proposed Change Personnel 964,492 1,129,751 1,099,587 1,077,096 -2.05% Supplies 118,484 147,666 168,406 185,400 10.09% Maintenance 48,976 57,433 52,677 53,187 0.97% Services 501,810 781,290 904,430 867,923" -4.04% Permanent Capital Maint. 133,357 19,472 180,200 0 -100.00% Capital Outlay 13,693 0 51,300 0 -100.00% Transfers 323,255 424,081 171,509 184,823 7.76% Total 2,104,067 2,559,694 2,628,109 2,368,429` -9.88% Retrained Earnings (Revenues over Expenses) 112,871 Fund Balance Summary 1999-2000 2000-01 2001-02 2002-03' Actual Actual Budget Proposed Beginning Working Capital Balance 1,106,072 982,252 1,526,133 1,184,814 Projected Contribution to Retained Earnings (341,319) 112,871 Ending Working Capital Balance 982,252 1,526,133 1,184,814 1,297,685' Fund Balance Requirement * 639,923 657,027 592,107' Balance over Requirement 886,210 527,787 705,578 * Fund balance requirement is 25% of total net budgeted expenses or 90 days of operation. The FY 2002-03 projected ending working capital balance represents 200 days of operation. FY 2002-03 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE STORMWATER DRAINAGE UTILITY FUND Revenues 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change Drainage Utility Fees 1,128,504 1,170,016 1,175,309 1,195,924 1.75% Interest Income 88,056 70,298 60,000 45,000 -25.00% Miscellaneous Revenue 0 13,144 0 0 ` 0.00% Total Fund Revenues 1,216,560 1,253,458 1,235,309 1,240,924 0.45% Expenditures 1999-2000 2000-01 2001-02 2002-03 Percent Actual Actual Budget Proposed Change Personnel 286,284 386,894 316,133 309,508 -2.10% Supplies 17,128 16,563 25,200 27,200' 7.94% Maintenance 101,594 139,753 105,000 105;000 0.00% Services 108,868 117,103 103,829 89,332' -13.96% Capital Outlay 0 56,679 0 0 Transfers 174,136 963,201 663,824 739,417` 11.39% Total Fund Expenditures 688,010 1,680,193 1,213,986 1,270,457 = 4.65% Contribution to Fund Balance (Revenues Over Expenditures) (29,533) Fund Balance Summary 1999-2000 2000-01 2001-02 2002-03 Actual Actual Budget Proposed Beginning Fund Balance 1,389,029 1,917,580 1,490,845 1,512,168 ' Contribution to Fund Balance 528,550 (426,735) 21,323 (29,533) Ending Fund Balance 1,917,580 1,490,845 1,512,168 1,482,635 Permanent Capital Maintenance and Street Maintenance Program TOTAL FACILITIES MAINTENANCE $109,600 $57,400 -47.63 1 i1INTENAiC 1'ltfi lt1 X042 L C I VY -200.1 PROPOSED PERCENT Centralized Irrigation System Centralized 45,000 45,000 0.00% Median Landscaping 20,000 0 -100.00% Lamp Replacement at Athletic Facilities 7,000 5,000 -28.57% Upgrade Drinking Fountains and ADA Accessibility 7,000 0 -100.00% Park Signage Replacement 10,000 10,000 0.00% Trash Receptacle Replacement 6,000 0 -100.00% Bleacher Replacement 0 15,000 - N/A Play Equipment Painting 2,500 0 -100.00% Small Park Amenities Replacement 5,000 5,000 0.00% Playground Accessibility Improvements 7,000 20,000 185.71% Special Events Equipment Replacement 1,500 0 -100.00% Fitness Equipment Replacement 11,300 7,500 -33.63% Aquatics Repairs and Replacements 0 3,000 N/A Dove Park Water Features & Safety Deck Replacementl 0 1 3,000 1 N/A TOTAL PARKS MAINTENANCE $122,300 $113,500 -7.20% TOTAL PERMANENTSTR.EETMAINTENANCE $890,000 $860,000 -3.37% $1,121,900 1 $1,030,900 FY 2002-03 Proposed Capital Improvement Plan Summary of Projects 41) By Category General Government Capital Projects Street and Drainage Improvements Buildings and Facilities Parks and Beautification Studies and Miscellaneous Total General Government Projects Utility and Lake Enterprise Capital Proiects Water System Improvements Wastewater System Improvements Golf Course Improvements $10,211,785 $2,108,834 $230,000 $50,000 $12,600,619 $2,421,697 $1,720,375 $774,976 Total Utility and Lake Enterprise Projects $4,917,048 Operating Budget Impacts General Government Capital Projects $558,638 Utility & Lake Enterprise Capital Projects $205,318 Total Operating Budget Impacts $763,956 Operating Budget Impacts (Bv Fundi General Fund $235,400 Convention & Visitors Fund $323,238 Utility Enterprise Fund $179,417 Lake Enterprise Fund $25,901 Total Operating Budget Impacts (By Fund) $763,956