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HomeMy WebLinkAboutItem 06 - Budget Public Hearing MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: AUGUST 21, 2018 SUBJECT: PUBLIC HEARING ON THE FY 2018-2019 BUDGET RECOMMENDATION: That the City Council conduct a public hearing on the proposed Fiscal Year 2018-2019 annual 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 August 21, 2018 and final action on the budget shall be taken at the Regular City Council meeting on September 18, 2018. A copy of the proposed FY 2019 budget summary is attached hereto. The budget contains fund expenditures in the following amounts: General Fund $ 67,724,922 Convention and Visitors Bureau Fund 22,256,698 Convention and Visitors Bureau Incentives Fund 5,286,581 Stormwater Drainage Fund 1,419,312 Crime Control & Prevention District Fund 17,688,130 Lake Parks Special Revenue Fund 2,755,632 4B Transit Fund 10,883,750 Economic Development Fund 3,761,250 Debt Service Fund 15,989,541 Utility Enterprise Fund 23,695,775 Golf Enterprise Fund 3,222,400 Capital/Street Maintenance Program Fund 3,279,000 The FY 2019 Proposed Budget is available online, in the City Secretary's Office, and at the Grapevine Public Library. FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND Section 1 - General Fund 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 12,384,369 11,740,496 12,365,105 12,365,105 13,891,570 OPERATING REVENUE: Ad Valorem Taxes 9,793,333 9,655,982 9,793,334 9,773,747 11,165,766 Sales Taxes 28,314,649 27,153,906 27,300,000 28,300,000 28,890,000 Mixed Beverage Taxes 1,710,043 1,733,258 1,700,000 1,785,000 1,800,000 Franchise Fees 6,661,525 6,602,482 6,760,000 6,960,000 6,983,718 Licenses & Permits 1,769,496 1,910,170 1,800,000 1,796,400 1,926,304 Charges for Services 10,376,446 11,414,297 12,526,780 12,703,127 8,974,699 Intergovernmental 92,507 249,243 312,189 311,565 432,690 Fines and Forfeitures 1,779,275 1,789,779 1,856,815 1,813,597 1,800,452 Miscellaneous 1,482,172 3,167,512 1,018,250 1,016,214 1,242,400 Total Operating Revenue 61,979,446 63,676,628 63,067,368 64,459,650 63,216,029 TRANSFERS IN: Admin. Fee - Utility Fund 1,650,769 1,826,307 1,865,743 1,865,743 1,865,000 Admin. Fee - CVB Fund 1,465,969 1,428,542 1,094,581 1,094,581 1,428,000 Admin. Fee - Golf Fund 98,831 108,147 103,875 103,875 108,000 Administrative Fee - SDUS Fund 106,775 112,127 108,110 108,110 112,000 Administrative Fee - Lake Parks Fund 72,951 144,381 591,305 591,305 689,893 Administrative Fee - 4B Fund 314,997 306,433 260,063 260,063 306,000 Transfers In -Housing Authority - 1,109,382 - - - Other Financing Sources 7,872 - - - - Total Transfers In 3,718,163 5,035,320 4,023,677 4,023,677 4,508,893 TOTAL REVENUE AND TRANSFERS 65,697,609 68,711,948 67,091,045 68,483,327 67,724,922 OPERATING EXPENDITURES: Personnel 28,618,205 29,975,303 31,464,766 31,401,836 33,534,842 Supplies 3,153,339 3,565,109 3,204,352 3,197,943 3,311,114 Maintenance 942,049 989,561 1,142,566 1,140,281 1,251,755 Services 11,399,175 11,641,768 10,730,447 10,708,986 11,598,115 Debt Service 173,556 178,694 - - - Capital Outlay 179,347 148,958 92,000 91,816 92,000 Insurance 11,491,277 14,126,946 12,576,663 12,551,510 8,860,466 Total Operating Expenditures 55,956,948 60,626,338 59,210,794 59,092,372 58,648,292 TRANSFERS OUT: To Permanent Capital Maintenance 1,595,000 1,595,000 1,322,500 1,319,855 1,510,000 To Permanent Street Maintenance 1,684,000 1,684,000 1,322,500 1,319,855 1,510,000 To Capital Equipment Acquisition Fund 1,906,099 982,000 - - - To Community Quality of Life Fund 3,000,000 3,000,000 3,000,000 2,994,000 3,000,000 To Crime Control & Prevention District Fund - 200,000 2,235,250 2,230,780 3,056,630 To Capital Improvement Projects Fund 2,199,435 - - - - Total Transfers Out 10,384,534 7,461,000 7,880,250 7,864,490 9,076,630 TOTAL EXPENDITURES AND TRANSFERS 66,341,482 68,087,338 67,091,044 66,956,862 67,724,922 SURPLUS (DEFICIT) (643,873) 624,609 1 1,526,465 - ENDING FUND BALANCE: 11,740,496 12,365,105 12,365,106 13,891,570 13,891,570 FUND BALANCE REQUIREMENT: 10,006,929 10,732,310 10,255,591 10,229,768 10,903,178 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2018-19 projected Ending Fund Balance represents 22.45% of total budgeted expenditures (82 days of operation). Section 1 - General Fund FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,329,868 10,073,252 12,782,669 12,782,669 12,889,315 OPERATING REVENUE: 18,299,208 19,559,626 20,913,347 20,871,520 22,256,698 Occupancy Taxes 13,955,600 13,848,845 13,263,151 13,661,046 14,313,754 Facility Rental Income 697,334 740,218 891,000 889,218 730,000 Interest Income 42,887 107,933 50,000 49,900 15,000 Sales & Merchandise 620,413 693,286 633,000 631,734 670,000 Train Operations 2,010,032 2,193,028 1,900,000 1,896,200 1,900,000 Festivals & New Vintage 3,743,242 3,784,733 3,400,000 3,393,200 3,700,000 Visitor Shuttle System 144,493 114,565 135,000 134,730 135,000 Miscellaneous Income 497,464 455,823 362,692 361,967 382,692 Total Operating Revenue 21,711,466 21,938,430 20,634,843 21,017,994 21,846,446 TRANSFERS IN: Transfer from 4B Economic Devl. Fund 331,126 330,613 385,150 384,380 444,610 Transfer from General Fund - - - - - Total Transfers In 331,126 330,613 385,150 384,380 444,610 TOTAL REVENUE & TRANSFERS 22,042,592 22,269,044 21,019,993 21,402,374 22,291,056 OPERATING EXPENDITURES: 18,299,208 19,559,626 20,913,347 20,871,520 22,256,698 Personnel 5,666,550 5,675,502 6,361,185 6,348,463 6,643,975 Supplies 775,577 673,654 762,150 760,626 859,050 Maintenance 367,648 313,358 569,350 568,211 858,500 Services 4,236,108 4,858,162 5,728,900 5,717,442 4,683,192 Insurance - - - - 1,305,169 Festival & Train Operations 4,153,757 4,951,624 4,963,153 4,953,227 5,332,476 Capital Outlay 84,991 102,718 43,500 43,413 13,000 Total Operating Expenditures 15,284,631 16,575,018 18,428,238 18,391,382 19,695,362 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,465,969 1,428,542 1,094,581 1,092,392 1,455,526 Transfer to GTRP Fund 25,000 25,000 25,000 24,950 25,000 Trans. to Debt Service Fund 1,081,644 1,081,066 1,195,210 1,192,820 1,055,810 Transfer to Capital Projects Fund 400,000 - - - - Transfer to Capital Equip Acquisition Fund 11,963 450,000 145,318 145,027 - Transfer to Historic Preservation Fund 30,000 - 25,000 24,950 25,000 Total Transfers Out 3,014,576 2,984,608 2,485,109 2,480,139 2,561,336 TOTAL EXPENDITURES & TRANSFERS 18,299,208 19,559,626 20,913,347 20,871,520 22,256,698 SURPLUS / (DEFICIT) 3,743,384 2,709,417 106,646 530,854 34,358 ENDING FUND BALANCE: 10,073,252 12,782,669 12,889,315 13,313,522 12,923,673 FUND BALANCE REQUIREMENT: 2,512,542 2,724,660 3,029,299 3,023,241 3,237,594 x Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2018-19 projected Ending Fund Balance represents 240 days of operation. Section 2 - Special Funds FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION & VISITORS BUREAU INCENTIVES FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,369,328 8,979,950 10,782,562 10,782,562 10,782,562 OPERATING REVENUE: Personnel - 4,388 - - - Supplies 23,836 99,075 100,000 99,800 100,000 Occupancy Taxes - Gaylord 1,836,192 1,785,994 1,681,294 1,677,931 2,018,454 Occupancy Taxes - Great Wolf 463,653 480,018 466,830 465,896 472,578 Occupancy Taxes - All (1%) 2,709,112 2,685,808 2,530,582 2,525,521 2,720,549 Interest Income 39,781 98,846 60,000 59,880 75,000 Miscellaneous 14,366 (5,640) - - - Total Operating Revenue 5,063,105 5,045,026 4,738,706 4,729,229 5,286,581 TRANSFERS IN: - TOTAL REVENUE AND TRANSFERS 5,063,105 5,045,026 4,738,706 4,729,229 5,286,581 OPERATING EXPENDITURES: Personnel - 4,388 - - - Supplies 23,836 99,075 100,000 99,800 100,000 Services 2,428,647 3,138,951 4,638,706 4,629,429 5,186,581 Total Operating Expenditures 2,452,482 3,242,414 4,738,706 4,729,229 5,286,581 TRANSFERS OUT: - TOTAL EXPENDITURES AND TRANSFERS 2,452,482 3,242,414 4,738,706 4,729,229 5,286,581 SURPLUS / (DEFICIT) 2,610,622 1,802,611 - - - ENDING FUND BALANCE: 8,979,950 10,782,562 10,782,562 10,782,562 10,782,562 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 4,279,950 6,082,562 6,082,562 6,082,562 6,082,562 Section 2 - Special Funds 25 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND TRANSFERS IN TOTAL REVENUE AND TRANSFERS 1,447,677 1,434,681 1,441,462 1,438,579 1,444,000 OPERATING EXPENDITURES: 2015-16 2016-17 2017-18 2017-18 2018-19 Personnel Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 985,018 1,261,208 1,552,470 1,552,470 1,552,470 OPERATING REVENUE: 117,983 89,951 125,000 124,750 125,000 Drainage Utility Fees 1,419,671 1,422,563 1,431,462 1,428,599 1,431,500 Interest Income 2,925 9,301 7,500 7,485 9,500 Interest Income - 2000 C.O. 1,587 3,386 2,500 2,495 3,000 Miscellaneous 23,495 (569) - - - Total Operating Revenue 1,447,677 1,434,681 1,441,462 1,438,579 1,444,000 TRANSFERS IN TOTAL REVENUE AND TRANSFERS 1,447,677 1,434,681 1,441,462 1,438,579 1,444,000 OPERATING EXPENDITURES: Personnel 455,736 492,963 524,394 523,345 549,651 Supplies 16,889 15,648 34,700 34,631 29,700 Maintenance 117,983 89,951 125,000 124,750 125,000 Services 240,979 257,579 350,440 349,739 234,655 Insurance - - - - 162,006 Capital Outlay 46,227 30,151 197,000 196,606 210,000 Total Operating Expenditures 877,815 886,292 1,231,534 1,229,071 1,311,012 TRANSFERS OUT: Transfer to General Fund - Admin Fee 106,775 112,127 108,110 108,110 108,300 Transfer to Equipment Acquisition Fund 186,897 145,000 - - - Total Transfers Out 293,672 257,127 108,110 108,110 108,300 TOTAL EXPENDITURES AND TRANSFERS 1,171,487 1,143,420 1,339,644 1,337,181 1,419,312 SURPLUS / (DEFICIT) 276,190 291,262 101,818 101,398 24,688 ENDING FUND BALANCE: 1,261,208 1,552,470 1,654,288 1,653,868 1,577,158 FUND BALANCE REQUIREMENT: 192,124 187,521 219,702 219,298 232,767 x Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2018-19 projected Ending Fund Balance represents 439 days of operation. Section 2 - Special Funds 29 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT OPERATING EXPENDITURES: 2015-16 2016-17 2017-18 2017-18 2018-19 Personnel Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,825,048 1,438,032 (343,841) (343,841) 0 OPERATING REVENUE: 115,591 88,341 173,700 173,353 180,000 Sales Tax (1/2 cent) 13,517,360 13,229,439 13,650,000 14,150,000 14,445,000 Commercial Vehicle Enforcement 139,287 121,186 160,000 159,680 150,000 Interest Income 12,886 18,550 15,100 15,070 30,000 Miscellaneous 8,791 23,167 4,410 4,401 6,500 Total Operating Revenue 13,678,323 13,392,342 13,829,510 14,329,151 14,631,500 TRANSFERS IN: Transfer from General Fund - 200,000 2,235,250 2,230,780 3,056,630 Transfer from Grant Fund 4,831 - - - - Total Transfers In 4,831 200,000 2,235,250 2,230,780 3,056,630 TOTAL REVENUE AND TRANSFERS 13,683,154 13,592,342 16,064,760 16,559,930 17,688,130 OPERATING EXPENDITURES: Personnel 10,426,376 11,396,293 12,057,099 12,216,444 12,615,162 Supplies 788,010 557,482 557,429 556,314 560,479 Maintenance 115,591 88,341 173,700 173,353 180,000 Insurance - - - - 3,050,918 Services 2,365,916 3,248,466 3,276,532 3,269,979 1,281,571 Capital Outlay - 21,633 - - - Total Operating Expenditures 13,695,893 15,312,215 16,064,760 16,216,089 17,688,130 TRANSFERS OUT Transfer to Capital Equip. Acquisition Fund 372,479 - Transfer out to Fund 113 1,798 - - Transfer out to Fund 325 - 62,000 - Total Transfers Out 374,277 62,000 - TOTAL EXPENDITURES AND TRANSFERS 14,070,170 15,374,215 16,064,760 16,216,089 17,688,130 SURPLUS / (DEFICIT) (387,016) (1,781,873) - 343,841 - ENDING FUND BALANCE: 1,438,032 (343,841) (343,841) 0 0 Section 2 - Special Funds 35 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (1,470,888) (2,466,048) (2,359,487) (2,359,487) (2,067,553) OPERATING REVENUE: Boat Ramp Fees 65,578 108,223 95,000 94,810 98,000 Pavilion Fees 51,515 61,715 76,000 75,848 76,000 Camping Fees 256,609 1,779,067 2,000,000 2,098,000 2,140,000 Entrance Fees 163,898 159,893 195,000 194,610 130,000 Recreation Fees 8,871 111,501 37,000 216,966 332,000 Merchandise Sales 23,796 74,442 72,000 71,856 72,000 Interest & Misc. Income 21,690 7,812 25,000 24,950 25,000 Total Operating Revenue 591,958 2,302,652 2,500,000 2,777,040 2,873,000 TRANSFERS IN: TOTAL REVENUE AND TRANSFERS 591,958 2,302,652 2,500,000 2,777,040 2,873,000 OPERATING EXPENDITURES: Personnel 149,197 230,489 234,055 233,587 397,274 Supplies 86,347 166,547 199,050 198,652 202,850 Maintenance 197,497 267,625 151,500 151,197 193,250 Services 1,046,377 1,348,040 1,253,590 1,251,083 1,080,889 Insurance - - - - 85,976 Capital Outlay 34,750 39,008 68,000 57,970 103,000 Finance Charges - - 21500 2,495 2,500 Total Operating Expenditures 1,514,168 2,051,709 1,908,695 1,894,984 2,065,739 TRANSFERS OUT: Transfer to General Fund - Admin Fee 72,951 144,381 591,305 590,122 689,893 Total Transfers Out 72,951 144,381 591,305 590,122 689,893 TOTAL EXPENDITURES AND TRANSFERS 1,587,118 2,196,090 2,500,000 2,485,106 2,755,632 SURPLUS / (DEFICIT) (995,160) 106,561 291,934 117,368 ENDING FUND BALANCE: (2,466,048) (2,359,487) (2,359,487) (2,067,553) (1,950,185) * A Fund Balance Requirement has not been established for the Lake Parks Special Revenue Fund. Section 2 - Special Funds 50 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 460,686 465,202 357 357 10,337 OPERATING REVENUE: Sales Tax 9,881,507 9,408,363 10,237,500 10,612,500 10,833,750 Interest Income 4,516 10,404 10,000 9,980 10,000 Total Operating Revenue 9,886,022 9,418,767 10,247,500 10,622,480 10,843,750 TRANSFERS IN: TOTAL REVENUE AND TRANSFERS 9,886,022 9,418,767 10,247,500 10,622,480 10,843,750 OPERATING EXPENDITURES Contractual Services - The T 3/8 Cent 9,550,381 9,077,750 9,852,350 10,228,120 10,389,140 Total Operating Expenditures 9,550,381 9,077,750 9,852,350 10,228,120 10,389,140 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 331,126 330,613 385,150 384,380 444,610 Transfer to Economic Development Fund - 475,249 - - - Total Transfers Out 331,126 805,862 385,150 384,380 444,610 TOTAL EXPENDITURES AND TRANSFERS 9,881,507 9,883,612 10,237,500 10,612,500 10,833,750 SURPLUS / (DEFICIT) 4,516 (464,844) 10,000 9,980 10,000 ENDING FUND BALANCE: 465,202 357 10,357 10,337 20,337 Section 2 - Special Funds 75 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122, 124) Total Operating Revenue 4,269,063 4,290,254 3,622,500 3,747,080 3,761,250 TOTAL REVENUE AND TRANSFERS 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed OPERATING EXPENDITURES: SURPLUS / (DEFICIT) 438,720 (16,718,674) BEGINNING FUND BALANCE: 21,529,337 21,968,057 5,249,383 5,168,818 5,216,533 Supplies 20,454 7,104 6,300 6,287 6,300 OPERATING REVENUE: 1,462,028 1,394,510 1,370,412 1,367,671 1,489,871 Sales Tax - 1/8 Cent - - - - 58,083 Sales Tax 4,170,133 4,062,180 3,412,500 3,537,500 3,611,250 Interest Income 98,303 238,778 210,000 209,580 150,000 Miscellaneous 626 (10,704) - - - Total Operating Revenue 4,269,063 4,290,254 3,622,500 3,747,080 3,761,250 TOTAL REVENUE AND TRANSFERS 4,269,063 4,290,254 3,622,500 3,747,080 3,761,250 OPERATING EXPENDITURES: SURPLUS / (DEFICIT) 438,720 (16,718,674) Personnel Services 437,428 458,904 473,576 472,629 504,552 Supplies 20,454 7,104 6,300 6,287 6,300 Services 1,462,028 1,394,510 1,370,412 1,367,671 1,489,871 Insurance - - - - 58,083 Total Operating Expenditures 1,919,910 1,860,519 1,850,288 1,846,587 2,058,806 TRANSFERS OUT 1,910,433 19,148,409 1,852,777 1,852,777 1,702,444 TOTAL EXPENDITURES AND TRANSFERS 3,830,343 21,008,928 3,703,065 3,699,364 3,761,250 SURPLUS / (DEFICIT) 438,720 (16,718,674) (80,565) 47,716 - RESERVED FOR DEBT SERVICE 1,595,548 1,595,548 1,595,548 1,402,400 1,402,400 ENDING FUND BALANCE AVAILABLE: 20,372,509 3,653,835 3,573,270 3,814,133 3,814,133 Section 2 - Special Funds 80 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Actual Proposed BEGINNING FUND BALANCE: 17,358,435 13,760,383 10,922,696 10,922,696 9,928,990 OPERATING REVENUE: Property Taxes Current 11,078,151 10,695,120 11,987,538 11,114,007 12,862,510 Property Taxes Delinquent 86,325 77,252 70,000 147,986 70,000 Interest Income 89,081 145,814 105,000 166,868 150,000 Total Operating Revenue 11,253,558 10,918,185 12,162,538 11,428,861 13,082,510 TRANSFERS IN: Transfer from CVB Fund 1,081,644 1,081,066 1,195,210 1,195,210 1,057,691 Transfer from Economic Development Fund 1,595,436 1,593,409 1,592,714 1,592,714 1,396,444 Transfer from Capital Projects Fund - - - 309,175 - Bond Proceeds/Refunding/Premiums - 1,412,775 - - - Total Transfers In 2,677,080 4,087,250 2,787,924 3,097,099 2,454,135 TOTAL REVENUE AND TRANSFERS 13,930,638 15,005,435 14,950,462 14,525,960 15,536,645 OPERATING EXPENDITURES: G. O. Bond Interest Payments 3,587,895 3,359,025 3,063,071 3,063,071 2,837,771 G. O. Bond Principal Payments 9,500,000 8,315,000 6,605,000 6,605,000 6,885,000 C. O. Interest Payments 1,750,690 1,664,721 1,848,151 1,867,631 2,529,417 C. 0 Principle Payments 2,000,095 2,396,864 2,293,694 3,213,694 3,115,590 Tax and Note Interest Payments 69,289 89,456 43,120 43,120 21,763 Tax and Note Principal Payments 571,533 587,819 717,595 717,595 590,000 Fiscal Agent and Bond Fees 49,187 1,430,237 60,000 9,554 10,000 Total Operating Expenditures 17,528,689 17,843,122 14,630,631 15,519,665 15,989,541 TRANSFERS OUT: TOTAL EXPENDITURES AND TRANSFERS 17,528,689 17,843,122 14,630,631 15,519,665 15,989,541 SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENDITURES: (3,598,052) (2,837,688) 319,831 (993,705) (452,896) ENDING FUND BALANCE: 13,760,383 10,922,696 11,242,527 9,928,990 9,476,094 FUND BALANCE REQUIREMENT: 3,457,714 3,519,739 2,886,042 3,061,413 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2018-2019 projected Ending Fund Balance represents 62% of total budgeted expenditures (228 days of operation). 3,154,101 Section 1 - General Fund 120 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING UNRESTRICTED FUND BALANCE: 8,114,081 9,765,998 12,900,388 12,900,388 8,450,961 OPERATING REVENUE: 21,607,716 21,642,901 29,525,991 29,480,840 23,695,775 Water Sales 14,013,898 14,710,779 15,990,385 15,958,404 15,650,000 Wastewater Sales 7,909,288 8,054,884 8,461,691 8,444,768 8,000,000 Tap & Inspection Fees 166,913 164,608 102,000 101,796 90,000 Reconnects & Transfers 222,413 202,962 202,500 202,095 215,000 Interest Income 82,289 175,278 120,000 119,760 120,000 Miscellaneous Income 864,831 945,807 205,000 204,590 205,000 Total Operating Revenue 23,259,633 24,254,317 25,081,576 25,031,413 24,280,000 TRANSFERS IN/CONTRIBUTIONS: 522,974 - TOTAL REVENUE AND TRANSFERS 23,259,633 24,777,291 25,081,576 25,031,413 24,280,000 OPERATING EXPENDITURES: 21,607,716 21,642,901 29,525,991 29,480,840 23,695,775 Personnel 3,254,832 3,084,394 3,470,982 3,464,040 3,681,043 Supplies 509,344 668,017 780,579 779,018 897,085 Maintenance 672,870 954,294 1,428,319 1,425,462 1,436,900 Services 12,458,929 12,912,247 14,640,090 14,610,810 13,117,126 Debt Service 127,309 170,356 1,505,044 1,502,034 1,564,244 Insurance - - - - 949,877 Capital Outlay 712,240 27,287 750,500 748,999 228,500 Total Expenditures 17,735,524 17,816,595 22,575,514 22,530,363 21,874,775 TRANSFERS OUT: 3,872,193 3,826,307 6,950,477 6,950,477 1,821,000 TOTAL EXPENDITURES AND TRANSFERS 21,607,716 21,642,901 29,525,991 29,480,840 23,695,775 SURPLUS / (DEFICIT) 1,651,917 3,134,390 (4,444,415) (4,449,427) 584,225 ENDING UNRESTRICTED FUND BALANCE: 9,765,998 12,900,388 8,455,973 8,450,961 9,035,186 FUND BALANCE REQUIREMENT: 2,837,684 2,850,655 3,612,082 3,604,858 3,499,964 x Fund balance requirement is 16% of total net budgeted expenditures or 60 days of operation. The FY 2018-19 projected Ending Working Capital Balance represents 151 days of operation. Section 3 - Enterprise Funds FY 2018-19 APPROVED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed OPERATING REVENUES: Cart and Club Rentals 613,284 687,793 627,000 625,746 686,000 Tournament Fees 2,650 2,108 4,000 3,992 3,000 Driving Range 208,915 213,011 255,000 254,490 215,000 Golf Pro Shop Sales 183,665 217,417 200,000 199,600 225,000 Golf Course Green Fees 1,317,339 1,441,966 1,385,000 1,382,230 1,475,000 Annual Green Fee Memberships 200,000 274,307 225,000 224,550 280,000 Restaurant % of Sales 28,523 29,740 35,000 34,930 35,000 Lesson Income 15,795 39,097 30,000 29,940 40,000 Interest Income 701 1,531 1,000 998 1,400 Golf Sub -Lease 222,149 243,981 240,000 239,520 240,000 Miscellaneous Income 30,148 24,852 22,000 21,956 22,000 Total Operating Revenue 2,823,169 3,175,804 3,024,000 3,017,952 3,222,400 TRANSFERS IN/CONTRIBUTIONS: - - - - - TOTAL REVENUES AND TRANSFERS 2,823,169 3,175,804 3,024,000 3,017,952 3,222,400 OPERATING EXPENDITURES: Personnel 1,382,107 1,404,999 1,396,539 1,393,746 1,443,651 Supplies 575,071 343,333 352,357 351,652 355,798 Maintenance 98,909 106,825 127,700 127,445 91,500 Services 595,842 718,667 710,487 709,066 359,291 Insurance - - - - 454,290 Capital Outlay 140,365 226,604 90,000 89,820 408,370 Total Operating Expenditures 2,792,295 2,800,427 2,677,083 2,671,729 3,112,900 TRANSFERS OUT: Transfer to General Fund - Admin Fee 98,831 108,147 343,875 343,187 109,500 Total Transfers Out 98,831 108,147 343,875 343,187 109,500 TOTAL EXPENDITURES AND TRANSFERS 2,891,126 2,908,574 3,020,958 3,014,916 3,222,400 SURPLUS / (DEFICIT) (67,957) 267,230 3,042 3,036 - Section 3 - Enterprise Funds 25 FY 2018-19 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL/STREET MAINTENANCE PROGRAM 2015-16 2016-17 2017-18 2017-18 2018-19 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,917,887 1,613,115 836,677 836,677 766,493 OPERATING REVENUE: Interest Income 11,721 25,378 24,000 24,000 24,000 Miscellaneous 59,118 174,037 - 33,258 - Total Operating Revenue 70,839 199,415 24,000 57,258 24,000 TRANSFERS IN: 3,279,000 3,279,000 2,645,000 3,145,000 3,020,000 TOTAL REVENUE AND TRANSFERS 3,349,839 3,478,415 2,669,000 3,202,258 3,044,000 OPERATING EXPENDITURES: Facilities Maintenance 446,338 552,828 426,000 425,148 379,000 Parks Maintenance 1,164,426 1,821,675 1,097,000 1,094,806 1,162,000 Street Maintenance and Overlay 1,241,012 1,405,307 1,255,000 1,252,490 1,208,000 Traffic Signal, Striping and Signing Maint. 415,014 475,042 501,000 499,998 530,000 Total Operating Expenditures 3,266,790 4,254,852 3,279,000 3,272,442 3,279,000 TRANSFERS OUT: 387,821 TOTAL EXPENDITURES AND TRANSFERS 3,654,611 4,254,852 3,279,000 3,272,442 3,279,000 SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENDITURES: (304,772) (776,438) (610,000) (70,184) (235,000) ENDING FUND BALANCE: 1,613,115 836,677 226,677 766,493 531,493 Section 1 - General Fund 124