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HomeMy WebLinkAboutItem 07 - Budget Public HearingMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 7, 2021 SUBJECT: PUBLIC HEARING ON THE FISCAL YEAR 2021-022 OPERATING BUDGET RECOMMENDATION: City Council to conduct a public hearing on the proposed Fiscal Year 2021-2022 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 7, 2021 and final action on the budget shall be taken thereafter. A copy of the proposed FY2022 budget summary is attached hereto. The budget contains fund expenditures in the following amounts: General Fund $67,888,255 Convention and Visitors Bureau Fund 18,832,129 Convention and Leisure Incentives Fund 4,200,690 Stormwater Drainage Fund 1,451,188 Crime Control & Prevention District Fund 19,018,930 Lake Parks Special Revenue Fund 2,392,915 4-B / Trinity Metro Fund 10,930,343 Economic Development Fund 3,753,448 Debt Service Fund 14,751,401 Utility Enterprise Fund 24,395,500 Golf Enterprise Fund 3,572,500 Permanent Capital Maintenance Fund 1,650,000 The FY 2022 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 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 15,555,243 14,295,271 11,574,295 11,574,295 12,769,188 OPERATING REVENUE: Ad Valorem Taxes 11,765,848 12,740,172 13,494,517 13,475,625 14,135,767 Sales Taxes 29,863,646 25,758,869 24,581,761 25,297,347 29,147,580 Mixed Beverage Taxes 2,145,940 1,477,422 1,899,934 1,897,274 2,057,000 Franchise Fees 6,435,471 6,216,567 6,906,950 6,897,280 6,216,567 Licenses & Permits 1,987,405 1,385,370 1,617,296 1,615,032 1,624,796 Charges for Services 8,607,062 7,848,563 9,068,428 9,055,732 9,294,760 Intergovernmental 387,303 331,383 344,094 343,612 344,094 Fines and Forfeitures 1,542,241 1,026,123 1,377,500 1,375,572 1,178,550 Miscellaneous 27250,264 1,680�540 999�934 998,534 1,066,800 Total Operating Revenue 64,985,180 58,465,009 60,290,414 60,956,007 65,065,914 TRANSFERS IN: Administrative Fee - Utility Fund 1,743,710 1,866,000 1,817,850 1,817,850 1,694,663 Administrative Fee - CVB Fund 1,498,333 1,455,526 1,213,537 1,213,537 1,255,274 Administrative Fee - Golf Fund 106,997 111,463 108,000 108,000 124,370 Administrative Fee - SDUS Fund 112,059 112,000 108,750 108,750 107,775 Administrative Fee - Lake Parks Fund 107,023 689,893 689,893 689,893 - Administrative Fee - 4B Fund 339,626 306,000 291,204 291,204 281,509 Transfers In -Housing Authority - 170,728 - - - Transfer In - Golf - 3,100,000 - - - Transfer In From Fund 114 - 27,374 - - - Transfer In - Economic Development - 149,086 - - - Total Transfers In 3,907,798 7,988,070 4,229,234 4,229,234 3,463,591 TOTAL REVENUE AND TRANSFERS 68,892,978 66,453,079 64,519,648 65,185,241 68,529,505 OPERATING EXPENDITURES: Personnel 33,462,248 34,151,264 34,239,023 34,170,545 34,878,522 Supplies 3,253,195 2,997,955 3,285,739 3,121,452 3,269,131 Maintenance 1,142,288 1,228,510 1,481,235 1,225,000 1,569,428 Services 13,124,614 13,442,202 11,574,422 11,551,273 12,521,093 Capital Outlay 264,387 734,516 115,000 114,770 115,000 Insurance 6,712,060 9,021,298 8,460,337 8,443,416 9,603,341 Total Operating Expenditures 57,958,792 61,575,745 59,155,756 58,626,456 61,956,515 TRANSFERS OUT: To Permanent Capital Maintenance 3,020,000 3,279,000 - - 1,640,000 To Capital Equipment Acquisition Fund 3,200,000 830,004 - - - To Community Quality of Life Fund 3,000,000 - - - - To Crime Control & Prevention District Fund 3,056,630 3,406,824 5,363,892 5,363,892 4,291,740 Total Transfers Out 12,276,630 7,515,828 5,363,892 5,363,892 5,931,740 ITOTAL EXPENDITURES AND TRANSFERS 70,235,422 69,091,573 64,519,648 63,990,348 67,888,255 (SURPLUS (DEFICIT) (1,342,444) (2,638,494) - 1,194,893 641,250 ENDING FUND BALANCE: 14,295,271 11,574,295 11,574,295 12,769,188 13,410,438 FUND BALANCE REQUIREMENT: 10,745,882 11,545,795 11,099,743 10,996,130 12,391,303 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2021-22 projected Ending Fund Balance represents 22.7% of total budgeted expenditures (83 days of operation). Section 1 1 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 8,918,787 7,749,784 7,289,596 7,289,596 7,277,291 OPERATING REVENUE: Property Taxes Current 12,209,962 12,744,716 13,000,000 13,000,000 13,352,507 Property Taxes Delinquent 61,832 121,102 70,000 70,000 70,000 Interest Income 202,653 118,835 150,000 150,000 150,000 Total Operating Revenue 12,474,447 12,984,653 13,220,000 13,220,000 13,572,507 TRANSFERS IN: Transfer from CVB Fund 1,057,691 985,670 985,670 985,670 658,675 Transfer from Economic Development Fund 1,396,444 1,401,394 1,401,394 1,401,394 1,398,894 Premium On Debt Refunding 589,173 - - - Bond Proceeds/Refunding/Premiums 5,395,000 - - - - Total Transfers In 8,438,308 2,387,064 2,387,064 2,387,064 2,057,569 TOTAL REVENUE AND TRANSFERS 20,912,755 15,371,717 15,607,064 15,607,064 15,630,076 OPERATING EXPENDITURES: G. O. Bond Interest Payments 2,837,771 3,692,383 3,265,983 3,265,983 1,814,132 G. O. Bond Principal Payments 6,885,000 7,565,000 6,935,000 6,935,000 6,220,000 C. 0. Interest Payments 1,825,749 1,116,999 1,622,867 1,622,867 2,018,375 C. O Principle Payments 2,295,590 1,317,553 2,395,000 2,395,000 3,300,000 Tax and Note Interest Payments 598,207 558,957 525,519 525,519 498,894 Tax and Note Principal Payments 1,410,000 1,455,000 875,000 875,000 900,000 Fiscal Agent and Bond Fees 15,064 126,020 - - - Total Operating Expenditures 15,867,381 15,831,912 15,619,369 15,619,369 14,751,401 TRANSFERS OUT: 970,000 - - - (TOTAL EXPENDITURES AND TRANSFERS SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENwi ux-LS: ENDING FUND BALANCE: 15,619,369 14,751,401 (12,305) 878,675 7,277,291 8,155,966 FUND BALANCE REQUIREMENT: 3,130,004 3,123,007 3,081,081 3,081,081 2,909,865 * 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). 16,837,381 15,831,912 15,619,369 4,075,374 (460,195) (12,305) 7,749,784 7,289,596 7,277,291 Section 1 118 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL/STREET MAINTENANCE PROGRAM 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,102,856 765,406 (329,841) (329,841) (2,095,841) OPERATING REVENUE: Interest Income 53,803 40,289 24,000 24,000 10,000 Miscellaneous 66z516 74,995 - - - Total Operating Revenue 120,319 115,284 24,000 24,000 10,000 TRANSFERS IN: 3,020,000 3,279,000 - - 1,640,000 TOTAL REVENUE AND TRANSFERS 3,140,319 3,394,284 24,000 24,000 1,650,000 OPERATING EXPENDITURES: Facilities Maintenance 419,433 517,614 100,000 100,000 850,000 Parks Maintenance 1,088,587 2,291,184 690,000 690,000 800,000 Street Maintenance and Overlay 1,312,437 1,195,327 700,000 700,000 - Traffic Signal, Striping and Signing Maint. 657,314 508,036 300,000 300,000 - Total Operating Expenditures 3,477,771 4,512,161 1,790,000 1,790,000 1,650,000 TOTAL EXPENDITURES AND TRANSFERS 3,477,771 4,512,161 1,790,000 1,790,000 1,650,000 Section 1 122 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND BEGINNING FUND BALANCE: OPERATING REVENUE: Occupancy Taxes Facility Rental Income Interest Income Sales & Merchandise Train Operations Festivals & New Vintage Visitor Shuttle System Miscellaneous Income Total Operating Revenue TRANSFERS IN: Transfer In From 4B Fund Transfer In From Fund 200 Oper Transfer In From Fund 215 Total Transfers In 2018-19 Actual 3,886,038 15,559,289 774,255 364,374 764,584 2,416,532 3,278,530 77,350 353,119 23,588,033 429,479 100,000 529,479 2019-20 Actual 6,556,266 8,783,674 419,448 192,017 490,235 2,238,433 3,912 29,050 223,775 12,380,544 336,524 8,500,000 8,836,524 TOTAL REVENUE & TRANSFERS 24,117,512 21,217,068 OPERATING EXPENDITURES: Personnel 6,050,073 5,698,652 Supplies 731,917 462,153 Maintenance 442,592 276,867 Services 4,039,794 2,648,408 Insurance 1,130,045 1,303,145 Festival & Train Operations 5,221,410 2,002,612 Capital Outlay 1,145,261 199,652 Total Operating Expenditures 18,761,092 12,591,489 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,498,333 1,455,526 Transfer to GTRP Fund 25,000 25,000 Trans. to Debt Service Fund 1,057,691 985,670 Transfer to Historic Preservation Fund - - Transfer to Capital Projects Fund - - Transfer to Heritage Fund 25,000 44,000 Total Transfers Out 2,606,024 2,510,196 TOTAL EXPENDITURES & TRANSFERS 21,367,116 15,101,685 SURPLUS / (DEFICIT) 2,750,396 6,115,383 ENDING FUND BALANCE: 6,556,266 12,679,426 FUND BALANCE REQUIREMENT: 3,084,015 2,069,834 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2021-22 projected Ending Fund Balance represents 97 days of operation. 2020-21 2020-21 2021-22 Budget Estimate Proposed 12,679,426 12,679,426 11,960,3 83 10,766,3 00 10,744,767 10,972,302 762,000 760,476 873,000 178,100 177,744 35,000 702,040 700,636 781,000 2,720,000 1,931,200 2,626,700 3,552,425 1,847,261 3,146,300 60,000 - - 359,226 358,508 389,486 19,100,091 16,520,592 18,823,788 464,141 463,213 476,332 464,141 463,213 476,332 19,564,232 16,983,804 19,300,120 6,568,222 5,093,723 6,438,442 611,150 514,567 492,125 309,800 299,914 301,980 3,955,625 3,773,824 3,824,028 1,356,455 1,356,455 1,431,556 5,286,390 4,406,978 4,385,049 18,087,642 15,445,461 16,873,180 1,213,537 1,213,537 1,255,274 20,000 20,000 20,000 998,850 998,850 658,675 25,000 25,000 25,000 2,257,387 2,257,387 1,958,949 20,345,029 17,702,848 18,832,129 (780,797) (719,043) 467,991 11,898,629 11,960,383 12,428,374 2,973,311 2,538,980 2,773,673 Section 2 1 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND LEISURE INCENTIVES FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 13,131,802 13,706,976 5,041,386 5,041,386 3,565,329 OPERATING REVENUE: Occupancy Taxes - Gaylord 2,242,812 1,263,508 1,534,054 1,300,000 1,563,413 Occupancy Taxes - All (1%) 2,965,201 1,674,203 2,050,059 1,300,000 2,089,286 Interest Income 79,413 49,465 50,000 50,000 5,000 Miscellaneous 3,440 27,407 75,000 5,000 75,000 Total Operating Revenue 5,290,866 3,014,583 3,709,113 2,655,000 3,732,699 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 5,290,866 3,014,583 3,709,113 2,655,000 3,732,699 OPERATING EXPENDITURES: Personnel - - - - - Supplies 101,199 - 60,000 59,880 100,000 Services 4,614,493 3,180,171 4,656,651 4,071,177 4,100,690 Total Operating Expenditures 4,715,692 3,180,171 4,716,651 4,131,057 4,200,690 TRANSFERS OUT: - 8,500,000 - - - TOTAL EXPENDITURES AND TRANSFERS 4,715,692 11,680,171 4,716,651 4,131,057 4,200,690 SURPLUS / (DEFICIT) 575,174 (8,665,588) (1,007,538) (1,476,057) (467,991) ENDING FUND BALANCE: 13,706,976 5,041,386 4,033,848 3,565,329 3,097,338 Section 2 24 STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,860,977 1,989,073 1,769,375 1,769,375 1,875,105 OPERATING REVENUE: Drainage Utility Fees 1,571,370 1,491,696 1,420,000 1,417,160 1,436,500 Interest Income 25,969 15,620 22,500 22,455 15,000 Interest Income - 2000 C.O. 8,017 2,852 7,500 7,485 2,000 Miscellaneous 1,302 38,396 - - - Total Operating Revenue 1,606,658 1,548,564 1,450,000 1,447,100 1,453,500 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 1,606,658 1,548,564 1,450,000 1,447,100 1,453,500 OPERATING EXPENDITURES: Personnel 509,937 527,598 544,184 543,096 575,368 Supplies 21,894 23,974 29,700 29,641 29,700 Maintenance 138,868 173,926 125,000 124,750 125,000 Services 198,377 161,591 206,792 206,378 217,580 Insurance 159,824 192,370 120,166 119,926 185,765 Capital Outlay 342,343 572,062 210,000 209,580 210,000 Total Operating Expenditures 1,371,243 1,651,521 1,235,842 1,233,370 1,343,413 TRANSFERS OUT: Transfer to General Fund - Admin Fee 112,059 112,000 108,750 108,000 107,775 Total Transfers Out 112,059 112,000 108,750 108,000 107,775 TOTAL EXPENDITURES AND TRANSFERS 1,483,302 1,763,521 1,344,592 1,341,370 1,451,188 SURPLUS / (DEFICIT) 123,356 (214,957) 105,408 105,730 2,312 ENDING FUND BALANCE: 1,989,073 1,769,375 1,874,783 1,875,105 1,877,417 FUND BALANCE REQUIREMENT: 243,262 289,217 220,513 219,985 237,995 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2021-22 projected Ending Fund Balance represents 639 days of operation. Section 2 28 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (759,398) (1,045,343) (2,824,924) (2,824,924) (2,798,307) OPERATING REVENUE: Sales Tax (1/2 cent) 14,563,884 12,501,687 12,290,880 12,266,298 14,573,790 Commercial Vehicle Enforcement 83,823 66,901 107,000 106,786 107,000 Interest Income 187,402 19,334 35,000 34,930 35,000 Miscellaneous 33,879 73,607 11,400 11,390 11,400 Total Operating Revenue 14,868,988 12,661,529 12,444,280 12,419,404 14,727,190 TRANSFERS IN: Transfer from General Fund 3,056,630 3,406,824 5,363,892 5,353,164 4,291,740 Total Transfers In 3,056,630 3,406,824 5,363,892 5,353,164 4,291,740 TOTAL REVENUE AND TRANSFERS 17,925,618 16,068,353 17,808,172 17,772,569 19,018,930 OPERATING EXPENDITURES: Personnel 12,939,302 12,641,442 12,957,073 12,931,159 13,410,995 Supplies 574,093 471,278 566,339 563,016 555,669 Maintenance 113,535 148,521 134,300 109,618 109,700 Insurance 2,911,128 3,166,121 2,869,848 2,864,108 3,175,259 Services 1,673,500 1,375,588 1,280,612 1,278,051 1,767,307 Capital Outlay - 44,985 - - - Total Operating Expenditures 18,211,558 17,847,935 17,808,172 17,745,952 19,018,930 TOTAL EXPENDITURES AND TRANSFERS 18,211,558 17,847,935 17,808,172 17,745,952 19,018,930 SURPLUS / (DEFICIT) (285,940) (1,779,582) - 26,617 - ENDING FUND BALANCE: (1,045,343) (2,824,924) (2,824,924) (2,798,307) (2,798,307) Section 2 34 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (2,290,551) (3,418,748) (4,496,443) (4,496,443) (3,626,989)1 OPERATING REVENUE: Boat Ramp Fees 61,037 137,371 50,000 49,900 165,000 Pavilion Fees 42,525 14,160 56,000 55,888 56,000 Camping Fees 923,069 1,544,417 2,260,000 2,255,480 2,260,000 Entrance Fees 89,260 238,552 205,000 204,590 255,000 Recreation Fees 153,213 176,034 298,000 297,404 268,000 Merchandise and Other Sales 63,852 147,357 101,000 100,798 108,000 Total Operating Revenue 1,332,956 2,257,891 2,970,000 2,964,060 3,112,000 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 1,332,956 2,257,891 2,970,000 2,964,060 3,112,000 OPERATING EXPENDITURES: Personnel 428,122 470,219 377,262 376,507 429,619 Supplies 137,688 201,313 178,150 177,178 225,050 Maintenance 477,941 386,733 310,750 273:697 288,750 Services 1,195,206 1,444,846 1,092,029 1,036085 1,204,616 Insurance 56,853 85,185 79,603 79,444 119,880 Capital Outlay 58,318 57,400 152,000 151,696 125,000 Total Operating Expenditures 2,354,128 2,645,696 2,189,794 2,094,606 2,392,915 TRANSFERS OUT: Transfer to General Fund - Admin Fee 107,023 689,893 689,893 - - Total Transfers Out 107,023 689,893 689,893 - - TOTAL EXPENDITURES AND TRANSFERS 2,461,151 3,335,589 2,879,687 2,094,606 2,392,915 SURPLUS / (DEFICIT) (1,128,195) (1,077,698) 90,313 869,454 719,085 ENDING FUND BALANCE: (3,418,748) (4,496,443) (4,406,130) (3,626,989) (2,907,904)1 Section 2 49 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 8,784 16,959 22,916 22,916 32,896 OPERATING REVENUE: Sales Tax 10,476,439 8,978,634 9,218,161 9,199,725 10,930,343 Interest Income 8,176 5,957 10,000 9,980 10,000 Total Operating Revenue 10,484,615 8,984,591 9,228,161 9,209,705 10,940,343 TRANSFERS IN: TOTAL REVENUE AND TRANSFERS 10,484,615 8,984,591 9,228,161 9,209,705 10,940,343 OPERATING EXPENDITURES: Contractual Services - Trinity Metro 10,046,960 8,642,,110 8,754,020 8,736,512 10,454,011 Total Operating Expenditures 10,046,960 8,642,110 8,754,020 8,736,512 10,454,011 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 429,479 336,524 464,141 463,213 476,332 Total Transfers Out 429,479 336,524 464,141 463,213 — 476,332 TOTAL EXPENDITURES AND TRANSFERS 10,476,439 8,978,634 9,218,161 9,199,725 10,930,343 SURPLUS / (DEFICIT) 8,176 5,957 10,000 9,980 10,000 ENDING FUND BALANCE: 16,959 22,916 32,916 32,896 42,896 Section 2 76 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122, 124) 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,098,006 6,671,014 7,055,268 7,055,268 7,073,309 OPERATING REVENUE: Sales Tax 4,393,875 3,872,769 3,653,721 3,646,414 3,643,448 Interest Income 144,127 104,318 110,000 90,000 110,000 Miscellaneous 4,232,422 1,409,926 - - - Total Operating Revenue 8,770,424 5,387,013 3,763,721 3,736,414 3,753,448 TOTAL REVENUE AND TRANSFERS 8,770,424 5,387,013 3,763,721 3,736,414 3,753,448 OPERATING EXPENDITURES: Personnel Services 512,099 523,166 533,637 532,570 416,902 Supplies 9,233 26,376 5,600 5,589 5,600 Maintenance 6,712 16,132 - - - Services 707,637 2,672,875 1,481,620 1,478,657 1,568,716 Insurance 66,293 56,816 51,141 51,039 81,827 Debt Service - - - - - Total Operating Expenditures 1,301,974 3,295,365 2,071,998 2,067,854 2,073,045 TRANSFERS OUT: Transfer to General Fund - Admin Fee 339,626 306,000 291,204 250,000 281,509 Transfer to Debt Service Fund 1,396,444 1,401,394 1,400,519 1,400,519 1,398,894 TRANSFERS OUT 1,736,070 1,707,394 1,691,723 1,650,519 1,680,403 TOTAL EXPENDITURES AND TRANSFERS 3,038,044 5,002,759 3,763,721 3,718,373 3,753,448 SURPLUS / (DEFICIT) 5,732,380 384,254 - 18,041 - ENDING FUND BALANCE AVAILABLE: 6,671,014 7,055,268 7,055,268 7,073,309 7,073,309 Section 2 81 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2018-19 2019-20 Actual Actual BEGINNING UNRESTRICTED FUND BALANCE: 16,629,044 14,139,853 OPERATING REVENUE: Water Sales 14,607,638 15,752,529 Wastewater Sales 8,033,819 7,735,969 Tap & Inspection Fees 151,124 2,543,467 Reconnects & Transfers 196,298 106,928 Interest Income 307,080 155,033 Miscellaneous Income 6,935,921 4,723,323 Total Operating Revenue 30,231,880 31,017,249 TRANSFERS IN/CONTRIBUTIONS: 556,794 1,740,977 TOTAL REVENUE AND TRANSFERS 30,788,674 32,758,226 OPERATING EXPENDITURES: Personnel 3,609,966 3,787,028 Supplies 699,016 660,509 Maintenance 920,689 1,403,191 Services 11,543,196 15,264,220 Debt Service 1,534,798 1,106,203 Insurance 920,619 1,047,341 Capital Outlay 544,005 308,347 Total Expenditures 19,772,289 23,576,839 TRANSFERS OUT: 6,843,710 1,885,149 TOTAL EXPENDITURES AND TRANSFERS 26,615,999 25,461,988 SURPLUS / (DEFICIT) 4,172,675 7,296,238 ENDING UNRESTRICTED WORKING CAPITAL: 14,139,853 16,724,257 WORKING CAPITAL REQUIREMENT: 3,163,566 3,772,294 * Working capitalrequirement is 16% of total net budgeted expenditures or 60 days of operation. The FY 2021-22 projected Ending Working Capital Balance represents 248 days of operation. 2020-21 Budget 16,724,257 2020-21 Estimate 16,724,257 15,650,000 15,618,700 8,000,000 7,984,000 85,000 84,830 203,000 202,594 300,000 299,400 200,500 200,099 24,438,500 24,389,623 24,438,500 24,389,623 3,892,334 1,184,760 1,525,900 13,266,549 1,122,619 1,027,743 330,000 22,349,905 1,817,850 24,167,755 270,745 16,995,002 3,575,985 3,884,549 1,172,504 1,522,848 13,240,016 1,120,374 1,025,688 329,340 22,295,319 1,817,850 24,113,169 276,454 17,000,711 3,567,251 2021-22 Proposed 17,000,711 15,675,000 8,000,000 85,000 160,000 200,000 275,500 24,395,500 24,395,500 1 4,007,053 1,209,610 2,140,900 14,285,362 3,000 1,054,912 22,700,837 1,694,663 24,395,500 17,000,711 3,632,134 Section 3 1 FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2018-19 2019-20 2020-21 2020-21 2021-22 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: (856,471) (800,159) (623,208) (623,208) (623,208) OPERATING REVENUES: Cart and Club Rentals 644,914 647,337 637,440 636,165 680,000 Tournament Fees 1,920 1,430 3,840 3,832 2,500 Driving Range 192,725 176,898 185,908 243,000 240,000 Golf Pro Shop Sales 244,364 193,723 245,000 244,510 250,000 Golf Course Green Fees 1,426,621 1,486,516 1,369,556 1,366,817 1,707,000 Annual Green Fee Memberships 266,750 247,000 312,960 312,334 325,000 Restaurant % of Sales 31,396 33,663 35,520 35,449 60,000 Lesson Income 15,381 14,920 33,600 33,533 15,000 Interest Income 2,962 1,406 3,000 2,994 3,000 Golf Sub -Lease 267,491 235,264 232,320 231,855 270,000 Miscellaneous Income 235,334 20,489 22,664 22,619 20,000 Total Operating Revenue 3,329,858 3,058,646 3,081,808 3,133,108 3,572,500 TOTAL REVENUES AND TRANSFERS 3,329,858 3,058,646 3,081,808 3,133,108 3,572,500 OPERATING EXPENDITURES: Personnel 1,337,802 1,394,369 1,485,633 1,482,662 1,551,359 Supplies 819,182 353,419 387,000 386,226 422,894 Maintenance 107,131 103,616 112,333 112,108 130,600 Services 333,792 361,315 395,135 394,345 457,302 Insurance 426,979 463,485 432,156 421,021 445,975 Capital Outlay 149,104 106,476 145,000 144,710 440,000 Total Operating Expenditures 3,173,990 2,782,680 2,957,257 2,941,071 3,448,130 TRANSFERS OUT: Transfer to General Fund - Admin Fee 106,997 111,463 108,000 80,000 124,370 Total Transfers Out 106,997 111,463 108,000 80,000 124,370 TOTAL EXPENDITURES AND TRANSFERS 3,280,987 2,894,143 3,065,257 3,021,071 3,572,500 SURPLUS / (DEFICIT) 48,871 164,503 16,551 112,037 - ENDING WORKING CAPITAL: (800,159) (623,208) (606,657) (511,171) (623,208) FUND BALANCE REQUIREMENT: 782,628 686,140 729,187 725,196 850,224 * 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 2021-22. Section 3 25