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HomeMy WebLinkAboutItem 07 - 2017-2018 Budget MEMO TO: HONORABLE MAYOR & MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER 01 MEETING DATE: AUGUST 15, 2017 SUBJECT: PUBLIC HEARING ON THE FY 2017-2018 BUDGET RECOMMENDATION: That the City Council conduct a public hearing on the proposed FY2017-2018 annual budget. The budget contains fund expenditures in the following amounts: General Fund $67,091,044 Convention and Visitors Bureau Fund 20,913,347 Convention and Visitors Bureau Incentives Fund 4,738,706 Stormwater Drainage Fund 1,339,644 Crime Control & Prevention District Fund 16,064,760 Lake Parks Special Revenue Fund 2,500,000 4B Transit Fund 13,650,000 Economic Development Fund 3,503,065 Debt Service Fund 14,630,631 Utility Enterprise Fund 24,441,257 Golf Enterprise Fund 3,020,958 General Permanent Capital Maintenance Fund 1,523,000 Permanent Street Maintenance Fund 1,756,000 BACKGROUND: Pursuant to the Charter of the City of Grapevine, Texas, Section 907, a public hearing on the annual budget shall be held to 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 August 15, 2017 and final action on the budget shall be taken at a later date. A copy of the proposed FY 2018 budget summary is attached hereto. FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 12,918,230 13,955,015 13,532,839 13,532,839 15,958,599 OPERATING REVENUE: Ad Valorem Taxes 8,460,482 9,793,333 9,036,995 9,677,048 9,793,333 Sales Taxes 27,306,949 28,314,649 27,846,386 27,300,000 27,300,000 Mixed Beverage Taxes 1,647,776 1,710,043 1,695,892 1,700,000 1,700,000 Franchise Fees 6,824,481 6,661,525 6,679,719 6,695,397 6,760,000 Licenses&Permits 1,562,406 1,769,496 1,450,376 1,757,038 1,800,000 Charges for Services 9,719,328 10,376,446 10,808,026 11,412,693 12,741,780 Intergovernmental 127,119 92,507 94,577 95,710 97,189 Fines and Forfeitures 1,910,877 1,779,275 1,916,560 1,781,853 1,856,815 Miscellaneous 987,942 1,670,606 716,650 1,635,530 1,018,250 Total Operating Revenue 58,547,360 62,167,879 60,245,181 62,055,269 63,067,367 TRANSFERS IN: Admin.Fee-Utility Fund 1,587,535 1,650,769 1,863,675 1,722,758 1,865,743 Admin.Fee-CVB Fund 1,346,398 1,465,969 1,038,520 1,185,654 1,094,581 Admin.Fee-Golf Fund 75,709 98,831 112,500 100,800 103,875 Administrative Fee-SDUS Fund 104,423 106,775 106,425 107,566 108,110 Administrative Fee-Lake Parks Fund 84,745 72,951 150,450 171,025 591,305 Administrative Fee-4B Fund 299,207 314,997 261,060 259,877 260,063 Total Transfers In 3,498,018 3,717,547 3,532,630 3,547,680 4,023,677 TOTAL REVENUE AND TRANSFERS 62,045,378 65,885,427 63,777,811 65,602,949 67,091,044 OPERATING EXPENDITURES: Personnel 27,376,972 28,618,205 29,745,335 29,326,278 31,464,766 Supplies 3,173,969 3,153,339 3,298,192 3,294,166 3,204,352 Maintenance 895,635 942,049 1,042,316 1,036,786 1,142,566 Services 10,250,769 11,538,851 10,516,418 10,511,362 10,730,447 Capital Outlay 208,617 179,347 69,720 177,141 92,000 Insurance 10,883,546 11,491,277 11,388,050 11,370,457 12,576,663 Total Operating Expenditures 52,789,507 55,923,068 56,060,031 55,716,189 59,210,794 TRANSFERS OUT: To Permanent Capital Maintenance 1,646,000 1,595,000 1,595,000 1,595,000 1,322,500 To Permanent Street Maintenance 1,633,000 1,684,000 1,684,000 1,684,000 1,322,500 To Capital Equipment Acquisition Fund 1,202,000 1,906,099 982,000 982,000 0 To Community Quality of Life Fund 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 To Crime Control&Prevention District Fund 700,000 0 200,000 200,000 2,235,250 To Economic Development Fund 4,624 0 0 0 0 To Capital Improvement Projects Fund 0 2,199,435 0 0 0 To Convention&Visitors Fund 33,463 0 0 0 0 Total Transfers Out 8,219,087 10,384,534 7,461,000 7,461,000 7,880,250 TOTAL EXPENDITURES AND TRANSFERS 61,008,594 66,307,602 63,521,031 63,177,189 67,091,044 SURPLUS/(DEFICIT) 1,036,784 (422,176) 256,780 2,425,759 0 ENDING FUND BALANCE: 13,955,015 13,532,839 13,789,619 15,958,599 15,958,599 FUND BALANCE REQUIREMENT: 10,413,273 11,031,400 11,058,417 10,990,591 11,679,937 * Fund balance requirement is 20%of total budgeted expenditures(72 days of operation). The FY 2017-18 projected Ending Fund Balance represents 26.9%of total budgeted expenditures(98 days of operation). Section 1-General Government Funds Page 1 of 157 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 2,430,230 6,000,843 9,744,226 9,744,226 11,529,199 OPERATING REVENUE: Occupancy Taxes 13,504,011 13,955,600 12,651,734 14,384,000 13,263,151 Facility Rental Income 691,727 697,334 843,000 857,000 891,000 Interest Income 13,376 42,887 0 51,000 50,000 Sales&Merchandise 534,245 620,413 593,000 713,397 633,000 Train Operations 2,040,524 2,010,032 1,900,000 1,609,805 1,900,000 Festivals&New Vintage 3,577,614 3,743,242 3,366,000 3,366,000 3,400,000 Visitor Shuttle System 148,757 144,493 157,000 110,000 135,000 Miscellaneous Income 304,317 497,464 370,292 440,659 362,692 Total Operating Revenue 20,814,571 21,711,466 19,881,026 21,531,861 20,634,843 TRANSFERS IN: Transfer from 4B Economic Devl.Fund 350,590 331,126 371,103 398,454 385,150 Transfer from General Fund 33,463 0 0 0 0 Total Transfers In 384,053 331,126 371,103 398,454 385,150 TOTAL REVENUE&TRANSFERS 21,198,624 22,042,592 20,252,129 21,930,315 21,019,993 OPERATING EXPENDITURES: Personnel 5,249,802 5,666,550 6,147,521 6,014,652 6,361,185 Supplies 803,470 775,577 818,304 800,420 762,150 Maintenance 192,478 246,825 266,100 260,079 569,350 Services 4,188,619 4,236,108 5,556,112 5,514,642 5,728,900 Festival&Train Operations 3,841,317 4,153,757 4,796,800 4,748,832 4,963,153 Capital Outlay 18,935 84,991 69,807 64,998 43,500 Total Operating Expenditures 14,294,621 15,163,809 17,654,644 17,403,622 18,428,238 TRANSFERS OUT: Transfer to General Fund-Admin Fee 1,346,398 1,465,969 1,038,520 1,185,654 1,094,581 Transfer to GTRP Fund 25,000 25,000 25,000 25,000 25,000 Trans.to Debt Service Fund 1,935,950 1,081,644 1,081,066 1,081,066 1,195,210 Transfer to Capital Projects Fund 0 400,000 0 0 0 Transfer to Permanent Capital Maint. 26,042 120,823 0 0 0 Transfer to Capital Equip Acquisition Fund 0 11,963 450,000 450,000 145,318 Transfer to Historic Preservation Fund 0 30,000 0 0 25,000 Total Transfers Out 3,333,390 3,135,399 2,594,586 2,741,720 2,485,109 TOTAL EXPENDITURES&TRANSFERS 17,628,011 18,299,208 20,249,230 20,145,342 20,913,347 SURPLUS /(DEFICIT) 3,570,613 3,743,384 2,899 1,784,973 106,646 ENDING FUND BALANCE: 6,000,843 9,744,226 9,747,125 11,529,199 11,635,846 FUND BALANCE REQUIREMENT: 2,349,801 2,492,681 2,902,133 2,860,869 3,029,299 * Fund balance requirement is 16.4%of total budgeted expenditures(60 days of operation). The FY 2017-18 projected Ending Fund Balance represents 230 days of operation. Section 2-Special Revenue Funds Page 1 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION&VISITORS BUREAU INCENTIVES FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 3,599,192 6,369,328 8,979,950 8,979,950 10,124,645 OPERATING REVENUE: Occupancy Taxes - Gaylord 1,709,086 1,836,192 1,698,276 1,681,293 1,681,294 Occupancy Taxes - Great Wolf 474,065 463,653 491,400 486,486 466,830 Occupancy Taxes - All (1%) 2,415,805 2,709,112 2,473,568 2,448,832 2,530,582 Interest Income 9,271 39,781 0 60,000 60,000 Total Operating Revenue 4,637,712 5,063,105 4,678,244 4,676,612 4,738,706 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 4,637,712 5,063,105 4,678,244 4,676,612 4,738,706 OPERATING EXPENDITURES: Personnel 0 0 0 0 0 Supplies 161,479 23,836 107,000 90,950 100,000 Maintenance 0 0 0 0 0 Services 1,706,096 2,428,647 4,158,983 3,440,966 4,638,706 Capital Outlay 0 0 0 0 0 Total Operating Expenditures 1,867,575 2,452,482 4,265,983 3,531,916 4,738,706 TRANSFERS OUT: 0 0 0 0 0 TOTAL EXPENDITURES AND TRANSFERS 1,867,575 2,452,482 4,265,983 3,531,916 4,738,706 SURPLUS/(DEFICIT) 2,770,136 2,610,622 412,261 1,144,695 0 ENDING FUND BALANCE: 6,369,328 8,979,950 9,392,211 10,124,645 10,124,645 RESERVES: Reserved for Incentive Packages 1,700,000 4,700,000 4,700,000 4,700,000 4,700,000 Total Reserves 1,700,000 4,700,000 4,700,000 4,700,000 4,700,000 UNRESERVED FUND BALANCE 4,669,328 4,279,950 4,692,211 5,424,645 5,424,645 Section 2-Special Revenue Funds Page 24 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,361,292 985,018 1,261,208 1,261,208 1,286,351 OPERATING REVENUE: Drainage Utility Fees 1,390,438 1,419,671 1,419,003 1,425,462 1,431,462 Interest Income 950 2,925 1,000 9,284 10,000 Interest Income-2000 C.O. 65 1,587 50 0 0 Miscellaneous 77,536 23,495 0 0 0 Total Operating Revenue 1,468,989 1,447,677 1,420,053 1,434,747 1,441,462 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1,468,989 1,447,677 1,420,053 1,434,747 1,441,462 OPERATING EXPENDITURES: Personnel 416,230 455,736 502,872 493,404 524,394 Supplies 18,841 16,889 44,700 27,881 34,700 Maintenance 104,232 117,983 125,000 123,750 125,000 Services 252,931 240,979 319,372 316,974 350,440 Capital Outlay 589,871 46,227 197,000 195,030 197,000 Total Operating Expenditures 1,382,105 877,815 1,188,944 1,157,038 1,231,534 TRANSFERS OUT: Transfer to General Fund-Admin Fee 104,423 106,775 106,425 107,566 108,110 Transfer to Debt Service Fund 318,735 0 0 0 0 Transfer to Equipment Acquisition Fund 40,000 186,897 145,000 145,000 0 Total Transfers Out 463,158 293,672 251,425 252,566 108,110 TOTAL EXPENDITURES AND TRANSFERS 1,845,263 1,171,487 1,440,369 1,409,604 1,339,644 SURPLUS/(DEFICIT) (376,274) 276,190 (20,316) 25,143 101,818 ENDING FUND BALANCE: 985,018 1,261,208 1,240,892 1,286,351 1,388,169 FUND BALANCE REQUIREMENT: 227,195 144,298 195,443 190,198 202,444 * Fund balance requirement is 16.4%of total budgeted expenditures(60 days of operation). The FY 2017-18 projected Ending Fund Balance represents 411 days of operation. Section 2-Special Revenue Funds Page 27 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL&PREVENTION DISTRICT 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,087,443 1,740,048 1,353,032 1,353,032 0 OPERATING REVENUE: Sales Tax (1/2 cent) 13,196,743 13,517,360 13,923,193 13,650,000 13,650,000 Commercial Vehicle Enforcement 146,165 139,287 164,000 140,000 160,000 Interest Income 2,216 12,886 1,000 10,686 15,100 Miscellaneous 4,108 8,791 0 3,098 4,410 Total Operating Revenue 13,349,232 13,678,323 14,088,193 13,803,784 13,829,510 TRANSFERS IN: Transfer from General Fund 700,000 0 200,000 200,000 2,235,250 Transfer from Grant Fund 0 4,831 0 Total Transfers In 700,000 4,831 200,000 200,000 2,235,250 TOTAL REVENUE AND TRANSFERS 14,049,232 13,683,154 14,288,193 14,003,784 16,064,760 OPERATING EXPENDITURES: Personnel 10,110,798 10,426,376 11,214,903 11,021,980 12,057,099 Supplies 635,178 788,010 889,747 876,733 557,429 Maintenance 118,899 115,591 133,100 118,700 173,700 Services 2,531,752 2,365,916 3,054,620 3,264,839 3,276,532 Capital Outlay 0 0 0 12,563 0 Total Operating Expenditures 13,396,627 13,695,893 15,292,370 15,294,815 16,064,760 TRANSFERS OUT: Transfer to Capital Equip.Acquisition Fund 0 372,479 62,000 62,000 0 Total Transfers Out 0 374,277 62,000 62,000 0 TOTAL EXPENDITURES AND TRANSFERS 13,396,627 14,070,170 15,354,370 15,356,815 16,064,760 SURPLUS/(DEFICIT) 652,605 (387,016) (1,066,177) (1,353,031) 0 ENDING FUND BALANCE: 1,740,048 1,353,032 286,854 0 0 Section 2-Special Revenue Funds Page 32 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (1,068,776) (1,439,059) (2,434,220) (2,434,220) (2,353,181) OPERATING REVENUE: Boat Ramp Fees 50,337 65,578 105,000 98,000 95,000 Pavilion Fees 31,734 51,515 75,000 70,000 76,000 Camping Fees 906,316 256,609 1,471,000 1,785,000 2,000,000 Entrance Fees 114,247 163,898 315,000 200,000 195,000 Recreation Fees 0 8,871 40,000 55,525 37,000 Merchandise Sales 36,379 23,796 85,000 67,800 72,000 Interest Income&Misc. 49,034 21,690 25,000 4,008 25,000 Total Operating Revenue 1,188,048 591,958 2,116,000 2,280,333 2,500,000 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1,188,048 591,958 2,116,000 2,280,333 2,500,000 OPERATING EXPENDITURES: Personnel 100,618 149,197 222,667 231,867 234,055 Supplies 105,413 86,347 259,100 192,090 199,050 Maintenance 76,251 197,497 118,000 175,275 151,500 Services 863,372 1,046,377 1,218,511 1,360,390 1,256,090 Capital Outlay 6,918 34,750 84,000 68,648 68,000 Disaster Recovery 0 0 0 0 Total Operating Expenditures 1,152,572 1,514,168 1,902,278 2,028,270 1,908,695 TRANSFERS OUT: Transfer to General Fund-Admin Fee 84,745 72,951 150,450 171,025 187,500 Transfer to Debt Service Fund 321,014 0 0 0 0 General Fund Loan Repayment 0 0 0 0 403,805 Total Transfers Out 405,759 72,951 150,450 171,025 591,305 TOTAL EXPENDITURES AND TRANSFERS 1,558,331 1,587,118 2,052,728 2,199,295 2,500,000 SURPLUS/(DEFICIT) (370,283) (995,160) 63,272 81,038 0 ENDING FUND BALANCE: (1,439,059) (2,434,220) (2,370,948) (2,353,181) (1,949,376) Section 2-Special Revenue Funds Page 44 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,883,186 11,181,914 14,452,028 14,452,028 14,599,431 OPERATING REVENUE: Sales Tax 9,573,493 14,051,640 13,923,193 13,650,000 13,650,000 Interest Income 10,875 71,868 33,000 147,128 160,000 Sales of Fixed Assets-GV Gardens 5,775,030 4,224,970 0 0 0 Miscellaneous 0 300 0 275 0 Total Operating Revenue 15,359,397 18,348,778 13,956,193 13,797,403 13,810,000 TRANSFERS IN: Total Transfers In 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 15,359,397 18,348,778 13,956,193 13,797,403 13,810,000 OPERATING EXPENDITURES: Personnel 0 0 0 0 0 Supplies 0 0 0 0 0 Services 137,488 1,027,023 7,051,043 0 0 Contractual Services-The T 3/8 Cent 9,222,903 9,550,381 9,471,292 9,839,046 9,852,350 Community Distributions 0 0 0 0 0 Capital Outlay 0 0 0 0 0 Total Operating Expenditures 9,360,391 10,577,404 16,522,335 9,839,046 9,852,350 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 350,590 331,126 371,103 398,454 385,150 Transfer to Economic Development Fund 1,153,580 4,170,133 3,480,798 3,412,500 3,412,500 Transfer to Parks Open Space Fund 196,108 0 0 0 0 Transfer to General Fund-Admin Fee 0 0 0 0 0 Total Transfers Out 1,700,278 4,501,259 3,851,901 3,810,954 3,797,650 TOTAL EXPENDITURES AND TRANSFERS 11,060,669 15,078,664 20,374,236 13,650,000 13,650,000 SURPLUS/(DEFICIT) 4,298,728 3,270,115 (6,418,043) 147,403 160,000 ENDING FUND BALANCE: 11,181,914 14,452,028 8,033,985 14,599,431 14,759,431 RESERVES: Reserved for Economic Development Projects 638,256 638,256 638,256 638,256 638,256 Reserved for Train Station Improvements 10,543,658 13,813,773 7,395,730 13,961,176 14,121,176 Total Reserves 11,181,914 14,452,028 8,033,985 14,599,431 14,759,431 Section 2-Special Revenue Funds Page 68 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 3,909,596 6,132,861 8,742,004 8,742,004 8,538,581 OPERATING REVENUE: Interest Income 6,855 30,882 16,000 57,000 60,000 Miscellaneous 62 395 0 0 0 Total Operating Revenue 6,917 31,277 16,000 57,000 60,000 TRANSFERS IN: Transfer in from General Fund 4,624 0 0 0 0 Transfer in from 4B Fund 5,136,157 4,170,133 3,480,798 3,412,500 3,412,500 Transfer in from TIF 1 Fund 0 2,200,000 0 0 0 5,140,781 6,370,133 3,480,798 3,412,500 3,412,500 TOTAL REVENUE AND TRANSFERS 5,147,698 6,401,410 3,496,798 3,469,500 3,472,500 OPERATING EXPENDITURES: Personnel 392,325 437,428 458,725 448,597 473,576 Supplies 14,173 20,454 7,800 6,922 6,300 Services 586,702 1,423,952 1,156,643 1,364,118 1,170,412 Total Operating Expenditures 993,199 1,881,834 1,623,168 1,819,637 1,650,288 TRANSFERS OUT: Transfer to General Fund-Admin Fee 299,207 314,997 261,060 259,877 260,063 Transfer to Debt Service Fund 1,594,027 1,595,436 1,593,409 1,593,409 1,592,714 Transfer to Capital Equip Fund 38,000 0 0 0 0 Total Transfers Out 1,931,234 1,910,433 1,854,469 1,853,286 1,852,777 TOTAL EXPENDITURES AND TRANSFERS 2,924,434 3,792,267 3,477,637 3,672,923 3,503,065 SURPLUS/(DEFICIT) 2,223,265 2,609,143 19,161 (203,423) (30,565) ENDING FUND BALANCE: 6,132,861 8,742,004 8,761,165 8,538,581 8,508,016 Section 2-Special Revenue Funds Page 72 of 75 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 16,920,164 17,358,438 13,760,386 13,760,386 15,149,512 OPERATING REVENUE: Property Taxes-Current 11,891,483 11,078,151 11,586,719 11,470,852 11,987,538 Property Taxes-Delinquent 47,450 86,325 70,000 64,250 70,000 Interest Income 30,241 89,081 40,000 135,117 105,000 Total Operating Revenue 11,969,175 11,253,558 11,696,719 11,670,219 12,162,538 TRANSFERS IN: Transfer from Municipal Ct.Technology Fund 55,825 0 0 0 0 Transfer from CVB Fund 1,935,950 1,081,644 1,081,066 1,081,066 1,195,210 Transfer from SDUS Fund 318,735 0 0 0 0 Transfer from Lake Parks Fund 321,014 0 0 0 0 Transfer from Economic Development Fund 1,594,027 1,595,436 1,593,409 1,593,409 1,592,714 Bond Proceeds/Refunding/Premiums 13,785,676 0 0 1,412,775 0 Total Transfers In 18,011,227 2,677,080 2,674,475 4,087,250 2,787,924 TOTAL REVENUE AND TRANSFERS 29,980,402 13,930,638 14,371,194 15,757,469 14,950,462 OPERATING EXPENDITURES: G.O.Bond Interest Payments 3,473,104 3,587,895 3,224,033 3,224,033 3,063,071 G.O.Bond Principal Payments 7,300,000 9,500,000 7,035,000 7,035,000 6,605,000 C.O.Interest Payments 1,658,690 1,750,690 1,437,874 1,437,874 1,848,151 C.O.Principal Payments 1,708,386 2,000,095 2,026,864 2,026,864 2,293,694 Tax and Note Interest Payments 97,315 69,289 56,756 56,756 43,120 Tax and Note Principal Payments 1,400,341 571,533 587,816 587,816 717,595 Fiscal Agent&Bond Fees 260,969 49,187 0 0 60,000 Pymt to Refund Bond Escrow Agent 13,643,322 0 0 0 0 Total Operating Expenditures 29,542,128 17,528,689 14,368,343 14,368,343 14,630,631 TRANSFERS OUT: 0 0 0 0 0 TOTAL EXPENDITURES AND TRANSFERS 29,542,128 17,528,689 14,368,343 14,368,343 14,630,631 SURPLUS/(DEFICIT) 438,274 (3,598,052) 2,851 1,389,126 319,831 ENDING FUND BALANCE: 17,358,438 13,760,386 13,763,237 15,149,512 15,469,343 FUND BALANCE REQUIREMENT: 5,827,488 3,457,714 2,834,303 2,834,303 2,886,042 * Fund balance requirement is 20%of total budgeted expenditures(72 days of operation). The FY 2017-18 projected Ending Fund Balance represents 386 days of operation. Section 1-General Government Funds Page 116 of 157 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: 12,701,404 13,372,499 13,957,667 13,957,667 14,150,639 OPERATING REVENUE: Water Sales 13,216,512 14,013,898 16,096,803 14,584,000 15,990,385 Wastewater Sales 7,581,393 7,909,288 8,454,198 7,931,000 8,461,691 Tap&Inspection Fees 130,709 166,913 48,000 127,060 102,000 Reconnects&Transfers 202,128 222,413 200,000 196,905 202,500 Interest Income 29,810 82,290 50,000 141,259 120,000 Miscellaneous Income 789,171 864,831 250,000 911,379 205,000 Total Operating Revenue 21,949,724 23,259,634 25,099,001 23,891,603 25,081,576 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 21,949,724 23,259,634 25,099,001 23,891,603 25,081,576 OPERATING EXPENDITURES: Personnel 3,039,974 3,254,832 3,377,528 3,386,557 3,470,982 Supplies 453,119 509,344 815,493 650,057 780,579 Maintenance 37,803 329,978 437,700 434,640 428,319 Services 12,551,234 12,712,493 13,940,067 13,793,896 14,640,090 Debt Service 3,184,969 2,766,491 2,190,494 2,191,641 1,505,044 Permanent Capital Maint. 423,995 773,037 1,870,000 1,215,500 1,000,000 Capital Outlay 0 656,097 312,500 303,582 750,500 Total Expenditures 19,691,093 21,002,273 22,943,782 21,975,873 22,575,514 TRANSFERS OUT: Transfer to General Fund-Admin Fee 1,587,535 1,650,769 1,863,675 1,722,758 1,865,743 Transfer to Capital Equipment Fund 0 21,424 0 0 0 Total Transfers Out 1,587,535 1,672,193 1,863,675 1,722,758 1,865,743 TOTAL EXPENDITURES AND TRANSFERS 21,278,629 22,674,466 24,807,457 23,698,631 24,441,257 SURPLUS/(DEFICIT) 671,095 585,168 291,544 192,971 640,319 TRANSFER TO CAPITAL PROJECTS FUND 0 0 0 0 5,084,734 ENDING WORKING CAPITAL: 13,372,499 13,957,667 14,249,211 14,150,639 9,706,224 FUND BALANCE REQUIREMENT: 3,236,892 3,452,428 3,771,581 3,612,472 3,711,043 * Fund balance requirement is 16%of total net budgeted expenses or 60 days of operation. The FY 2017-18 projected Ending Working Capital Balance represents 157 days of operation. Section 3-Enterprise Funds Page 1 of 32 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: (1,544,019) (2,576,375) (3,251,040) (3,251,040) (3,180,460) OPERATING REVENUE: Cart and Club Rentals 517,908 613,284 775,000 623,300 627,000 Tournament Fees 2,950 2,650 6,500 2,800 4,000 Driving Range 164,218 208,915 185,000 200,000 255,000 Golf Pro Shop Sales 152,912 183,665 203,500 194,200 200,000 Golf Course Green Fees 1,009,453 1,317,339 1,500,000 1,344,000 1,385,000 Annual Green Fee Memberships 121,374 200,000 150,000 231,000 225,000 Restaurant%of Sales 27,884 28,523 44,200 28,000 35,000 Lesson Income 6,882 15,795 20,000 28,700 30,000 Interest Income 267 701 155 880 1,000 Golf Sub-Lease 189,647 222,149 200,000 260,000 240,000 Miscellaneous Income (299,939) 27,667 21,500 17,414 22,000 Total Operating Revenue 1,893,555 2,820,688 3,105,855 2,930,294 3,024,000 TRANSFERS IN: 0 0 0 0 0 TOTAL REVENUE AND TRANSFERS 1,893,555 2,820,688 3,105,855 2,930,294 3,024,000 OPERATING EXPENDITURES: Personnel 1,164,779 1,382,107 1,336,646 1,299,570 1,396,539 Supplies 342,947 575,071 346,058 342,597 352,357 Maintenance 75,261 98,909 173,549 172,031 127,700 Services 733,277 713,347 695,904 718,113 710,487 Debt Service 533,937 486,723 0 0 0 Capital Outlay 0 140,365 286,877 226,604 90,000 Total Operating Expenditures 2,850,202 3,396,523 2,839,034 2,758,914 2,677,083 TRANSFERS OUT: Transfer to General Fund-Admin Fee 75,709 98,831 112,500 100,800 103,875 Transfer to Capital Project Fund 0 0 0 0 240,000 Total Transfers Out 75,709 98,831 112,500 100,800 343,875 TOTAL EXPENDITURES AND TRANSFERS 2,925,911 3,495,353 2,951,534 2,859,714 3,020,958 SURPLUS /(DEFICIT) (1,032,356) (674,665) 154,321 70,580 3,042 (ENDING WORKING CAPITAL: (2,576,375) (3,251,040) (3,096,719) (3,180,460) (3,177,418) Section 3-Enterprise Funds Page 24 of 32 FY 2017-18 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174-CAPITAL/STREET MAINTENANCE PROGRAM 2014-15 2015-16 2016-17 2016-17 2017-18 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,853,283 1,917,887 1,613,115 1,613,115 1,637,115 OPERATING REVENUE: Interest Income 4,348 11,721 3,500 24,000 24,000 Participation 0 0 0 0 0 Miscellaneous 0 59,118 0 0 0 Total Operating Revenue 4,348 70,839 3,500 24,000 24,000 TRANSFERS IN: 3,279,000 3,279,000 3,279,000 3,279,000 2,645,000 TOTAL REVENUE AND TRANSFERS 3,283,348 3,349,839 3,282,500 3,303,000 2,669,000 OPERATING EXPENDITURES: Facilities Maintenance 533,746 446,338 426,000 426,000 426,000 Parks Maintenance 849,696 1,164,426 1,097,000 1,097,000 1,097,000 Street Maintenance and Overlay 1,430,445 1,241,012 1,255,000 1,255,000 1,255,000 Traffic Signal,Striping and Signing Maint. 404,857 415,014 501,000 501,000 501,000 Total Operating Expenditures 3,218,743 3,266,790 3,279,000 3,279,000 3,279,000 TRANSFERS OUT: 0 387,821 0 0 0 TOTAL EXPENDITURES AND TRANSFERS 3,218,743 3,654,611 3,279,000 3,279,000 3,279,000 SURPLUS/(DEFICIT) 64,604 (304,772) 3,500 24,000 (610,000) (ENDING FUND BALANCE: 1,917,887 1,613,115 1,616,615 1,637,115 1,027,115 Section 1-General Government Funds Page 119 of 157