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HomeMy WebLinkAboutItem 05 - Operating Budget Public HearingMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 6, 2022 SUBJECT: PUBLIC HEARING ON THE FISCAL YEAR 2022-2023 OPERATING BUDGET RECOMMENDATION: City Council to conduct a public hearing on the proposed Fiscal Year 2022-2023 annual operating budget. FUNDING SOURCE: N/A 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 6, 2022 and final action on the budget shall be taken thereafter. A copy of the proposed FY2023 budget summary is attached hereto. The budget contains fund expenditures in the following amounts: 100 General Fund $73,762,264 115 Convention and Visitors Bureau Fund 22,324,716 215 Convention and Leisure Incentives Fund 4,503,133 116 Stormwater Drainage Fund 1,496,709 117 Crime Control & Prevention District Fund 21,372,975 119 Lake Parks Special Revenue Fund 2,721,249 120 4-13 / Trinity Metro Fund 12,525,000 124 Economic Development Fund 4,185,000 130 Debt Service Fund 14,502,969 200 Utility Enterprise Fund 30,215,396 210 Golf Enterprise Fund 3,671,100 174 Permanent Capital Maintenance Fund 3,812,000 The FY2023 proposed budget is available for viewing on the City's website and in the City Secretary's Office at City Hall. GJ/GWL 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE:14,254,953 11,616,459 11,582,854 11,582,854 16,208,231 OPERATING REVENUE: Ad Valorem Taxes 12,740,172 13,521,636 14,135,767 14,120,218 14,630,519 Sales Taxes 25,758,869 28,590,889 29,147,580 33,400,000 33,400,000 Mixed Beverage Taxes 1,477,422 1,793,124 2,057,000 2,054,737 2,157,000 Franchise Fees 6,216,567 5,858,497 6,216,567 6,146,008 6,025,000 Licenses & Permits 1,385,370 1,472,258 1,624,796 1,623,009 1,609,746 Charges for Services 7,848,563 8,218,525 9,294,760 9,315,106 9,747,281 Intergovernmental 328,633 3,990,496 344,094 343,715 344,094 Fines and Forfeitures 1,026,123 967,117 1,178,550 1,063,967 1,018,300 Miscellaneous 1,683,290 2,200,160 1,066,800 962,434 959,600 Total Operating Revenue 58,465,009 66,612,702 65,065,914 69,029,193 69,891,540 TRANSFERS IN: Administrative Fee - Utility Fund 1,866,000 1,817,850 1,694,663 1,694,663 1,773,038 Administrative Fee - CVB Fund 1,455,526 1,213,537 1,255,274 1,255,274 1,549,798 Administrative Fee - Golf Fund 111,463 134,992 124,370 124,370 125,000 Administrative Fee - SDUS Fund 112,000 108,750 107,775 107,775 109,013 Administrative Fee - Lake Parks Fund 689,893 ---- Administrative Fee - 4B Fund 306,000 353,046 281,509 281,509 313,875 Transfers In-Housing Authority 170,728 ---- Transfer In - Golf 3,100,000 ---- Transfer In From Fund 114 27,374 244,134 --- Transfer In - Economic Development 149,086 ---- Total Transfers In 7,988,070 3,872,309 3,463,591 3,463,591 3,870,724 TOTAL REVENUE AND TRANSFERS 66,453,079 70,485,011 68,529,505 72,492,784 73,762,264 OPERATING EXPENDITURES: Personnel 34,151,264 34,415,043 34,878,522 34,875,034 37,386,031 Supplies 2,997,955 2,992,664 3,269,131 3,265,862 3,581,056 Maintenance 1,228,510 1,487,167 1,569,428 1,567,859 1,746,843 Services 13,442,202 12,878,968 12,521,093 12,508,572 14,181,288 Capital Outlay 734,516 85,576 115,000 115,000 149,500 Insurance 9,021,298 8,675,694 9,603,341 9,603,341 10,557,971 Total Operating Expenditures 61,575,745 60,535,112 61,956,515 61,935,667 67,602,689 TRANSFERS OUT: To Permanent Capital Maintenance 3,279,000 -1,640,000 1,640,000 1,640,000 To Capital Equipment Acquisition Fund 830,004 ---- To Community Quality of Life Fund - To Crime Control & Prevention District Fund 3,406,824 5,513,302 4,291,740 4,291,740 4,519,575 To Grants Fund -6,856 --- To Lake Parks Fund -4,463,346 --- Total Transfers Out 7,515,828 9,983,504 5,931,740 5,931,740 6,159,575 TOTAL EXPENDITURES AND TRANSFERS 69,091,573 70,518,616 67,888,255 67,867,407 73,762,264 SURPLUS (DEFICIT)(2,638,494) (33,605) 641,250 4,625,377 - ENDING FUND BALANCE:11,616,459 11,582,854 12,224,104 16,208,231 16,208,231 FUND BALANCE REQUIREMENT:11,545,795 11,363,423 11,627,784 11,612,903 13,520,538 Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2022-23 projected Ending Fund Balance represents 25% of total budgeted expenditures (92 days of operation). FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND Section 1 1 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,556,266 12,671,649 12,397,770 12,397,770 12,406,374 OPERATING REVENUE: Occupancy Taxes 8,783,674 9,594,700 10,972,302 12,966,762 13,493,868 Facility Rental Income 419,448 403,907 873,000 809,378 869,600 Interest Income 192,017 24,922 35,000 34,930 13,000 Sales & Merchandise 490,235 367,171 781,000 779,438 887,000 Train Operations 2,238,433 1,960,902 2,626,700 2,500,000 3,314,000 Festivals & New Vintage 3,912 2,419,146 3,146,300 1,640,856 2,903,400 Visitor Shuttle System 29,050 2,508 - - - Miscellaneous Income 223,775 264,682 389,486 388,707 379,086 Total Operating Revenue 12,380,544 15,037,938 18,823,788 19,120,071 21,859,954 TRANSFERS IN: Transfer In From 4B 336,524 278,852 476,332 475,379 464,762 Oper Transfer In From CVB Incentives 8,500,000 - - - - Total Transfers In 8,836,524 278,852 476,332 475,379 464,762 TOTAL REVENUE & TRANSFERS 21,217,068 15,316,790 19,300,120 19,595,451 22,324,716 OPERATING EXPENDITURES: Personnel 5,698,652 5,648,208 6,438,442 4,849,189 6,733,813 Supplies 462,153 199,583 492,125 443,392 599,725 Maintenance 276,867 137,677 301,980 300,318 315,830 Services 2,648,408 2,462,090 3,824,028 4,626,726 5,778,250 Insurance 1,303,145 1,360,417 1,431,556 1,544,215 1,596,600 Festival & Train Operations 2,002,612 3,506,712 4,385,049 5,864,058 5,041,275 Capital Outlay 199,652 18,223 - - - Total Operating Expenditures 12,591,489 13,332,910 16,873,180 17,627,897 20,065,493 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,455,526 1,213,537 1,255,274 1,255,274 1,549,798 Transfer to GTRP Fund 25,000 20,000 20,000 20,000 25,000 Trans. to Debt Service Fund 985,670 998,850 658,675 658,675 659,425 Transfer to Historic Preservation Fund - 372 - - - Transfer to Heritage Fund 44,000 25,000 25,000 25,000 25,000 Transfer to Incentives Fund - - - - - Total Transfers Out 2,510,196 2,257,759 1,958,949 1,958,949 2,259,223 TOTAL EXPENDITURES & TRANSFERS 15,101,685 15,590,669 18,832,129 19,586,846 22,324,716 SURPLUS / (DEFICIT)6,115,383 (273,879) 467,991 8,604 - ENDING FUND BALANCE:12,671,649 12,397,770 12,865,761 12,406,374 12,406,374 FUND BALANCE REQUIREMENT:2,069,834 2,191,711 2,773,673 2,897,737 3,298,437 Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2022-23 projected Ending Fund Balance represents 226 days of operation. FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND Section 2 1 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 13,706,976 5,041,388 4,474,237 4,474,237 4,542,760 OPERATING REVENUE: Occupayncy Taxes 2,937,711 3,031,073 3,652,699 3,800,000 4,492,133 Interest Income 49,465 3,502 5,000 50,000 1,000 Miscellaneous 27,407 28,294 75,000 5,000 10,000 Total Operating Revenue 3,014,583 3,062,869 3,732,699 3,855,000 4,503,133 TOTAL REVENUE AND TRANSFERS 3,014,583 3,062,869 3,732,699 3,855,000 4,503,133 OPERATING EXPENDITURES: Supplies - - 100,000 99,800 - Services 3,180,171 3,630,020 4,100,690 3,686,677 4,503,133 Total Operating Expenditures 3,180,171 3,630,020 4,200,690 3,786,477 4,503,133 TRANSFERS OUT:8,500,000 - - - - TOTAL EXPENDITURES AND TRANSFERS 11,680,171 3,630,020 4,200,690 3,786,477 4,503,133 SURPLUS / (DEFICIT)(8,665,588) (567,151) (467,991) 68,523 - ENDING FUND BALANCE:5,041,388 4,474,237 4,006,246 4,542,760 4,542,760 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND LEISURE INCENTIVES FUND Section 2 24 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,984,329 1,769,372 1,582,827 1,582,827 1,582,105 OPERATING REVENUE: Drainage Utility Fees 1,491,696 1,504,793 1,436,500 1,433,627 1,475,000 Interest Income 15,620 1,223 15,000 14,970 15,000 Interest Income - 2000 C.O.2,852 196 2,000 1,996 2,000 Miscellaneous 38,396 449 - - - Total Operating Revenue 1,548,564 1,506,661 1,453,500 1,450,593 1,492,000 TRANSFERS IN:- - - - - TOTAL REVENUE AND TRANSFERS 1,548,564 1,506,661 1,453,500 1,450,593 1,492,000 OPERATING EXPENDITURES: Personnel 527,598 565,161 575,368 574,217 605,357 Supplies 23,974 18,574 29,700 33,334 35,700 Maintenance 173,926 89,536 125,000 124,750 125,000 Services 161,591 213,709 217,580 214,818 217,840 Insurance 192,370 116,862 185,765 186,617 193,799 Capital Outlay 572,062 580,614 210,000 209,580 210,000 Total Operating Expenditures 1,651,521 1,584,456 1,343,413 1,343,315 1,387,696 TRANSFERS OUT: Transfer to General Fund - Admin Fee 112,000 108,750 107,775 108,000 109,013 Total Transfers Out 112,000 108,750 107,775 108,000 109,013 TOTAL EXPENDITURES AND TRANSFERS 1,763,521 1,693,206 1,451,188 1,451,315 1,496,709 SURPLUS / (DEFICIT) (214,957) (186,545) 2,312 (722) (4,709) ENDING FUND BALANCE:1,769,372 1,582,827 1,585,139 1,582,105 1,577,396 FUND BALANCE REQUIREMENT:289,217 277,686 237,995 238,016 245,460 Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2022-23 projected Ending Fund Balance represents 415 days of operation. STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND Section 2 28 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (1,045,342) (2,824,924) 13,626 13,626 1,058,836 OPERATING REVENUE: Sales Tax (1/2 cent)12,501,687 14,039,776 14,573,790 16,700,000 16,700,000 Commercial Vehicle Enforcement 66,901 48,494 107,000 106,786 107,000 Interest Income 19,334 461 35,000 34,930 35,000 Miscellaneous 73,607 43,122 11,400 11,390 11,400 Total Operating Revenue 12,661,529 14,131,853 14,727,190 16,853,106 16,853,400 TRANSFERS IN: Transfer from General Fund 3,406,824 5,513,302 4,291,740 4,283,157 4,519,575 Transfer from Capital Projects Fund - 1,390,053 - - - Total Transfers In 3,406,824 6,903,355 4,291,740 4,283,157 4,519,575 TOTAL REVENUE AND TRANSFERS 16,068,353 21,035,208 19,018,930 21,136,263 21,372,975 OPERATING EXPENDITURES: Personnel 12,641,442 13,135,654 13,410,995 14,153,124 15,089,470 Supplies 471,278 508,328 555,669 602,632 644,384 Maintenance 148,521 104,489 109,700 89,938 114,200 Insurance 3,166,121 2,790,273 3,175,259 3,241,715 3,369,197 Services 1,375,588 1,539,910 1,767,307 2,003,644 2,155,724 Capital Outlay 44,985 118,004 - - - Total Operating Expenditures 17,847,935 18,196,658 19,018,930 20,091,053 21,372,975 TOTAL EXPENDITURES AND TRANSFERS 17,847,935 18,196,658 19,018,930 20,091,053 21,372,975 SURPLUS / (DEFICIT)(1,779,582) 2,838,550 - 1,045,210 - ENDING FUND BALANCE:(2,824,924) 13,626 13,626 1,058,836 1,058,836 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT Section 2 34 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (2,290,551) (4,496,443) - - 587,521 OPERATING REVENUE: Boat Ramp Fees 137,371 104,843 165,000 164,670 130,000 Pavilion Fees 14,160 33,650 56,000 55,888 42,000 Camping Fees 1,544,417 2,037,298 2,260,000 2,255,480 2,385,000 Entrance Fees 238,552 289,043 255,000 254,490 305,000 Recreation Fees 176,034 265,105 268,000 267,464 395,000 Merchandise and Other Sales 147,357 193,132 108,000 107,784 118,000 Total Operating Revenue 2,257,891 2,923,071 3,112,000 3,105,776 3,375,000 TRANSFERS IN:- 4,463,346 - - - TOTAL REVENUE AND TRANSFERS 2,257,891 7,386,417 3,112,000 3,105,776 3,375,000 OPERATING EXPENDITURES: Personnel 470,219 445,474 429,619 447,134 491,602 Supplies 201,313 198,726 225,050 227,107 217,250 Maintenance 386,733 354,224 288,750 259,922 296,250 Services 1,444,846 1,704,642 1,204,616 1,353,679 1,484,369 Insurance 85,185 85,591 119,880 127,835 138,778 Capital Outlay 57,400 101,319 125,000 102,579 93,000 Total Operating Expenditures 2,645,696 2,889,976 2,392,915 2,518,255 2,721,249 TRANSFERS OUT: Transfer to General Fund - Admin Fee 689,893 - - - - Total Transfers Out 689,893 - - - - TOTAL EXPENDITURES AND TRANSFERS 3,335,589 2,889,976 2,392,915 2,518,255 2,721,249 SURPLUS / (DEFICIT) (1,077,698) 4,496,441 719,085 587,521 653,751 ENDING FUND BALANCE:(4,496,443) - 719,085 587,521 1,241,272 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND Section 2 51 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 16,960.00 22,917.00 - - 10,617 OPERATING REVENUE: Sales Tax 8,978,634.00 9,584,397.00 10,930,343 12,525,000 12,525,000 Interest Income 5,957.00 63.00 10,000 10,617 10,000 Total Operating Revenue 8,984,591.00 9,584,460.00 10,940,343 12,535,617 12,535,000 TOTAL REVENUE AND TRANSFERS 8,984,591.00 9,584,460.00 10,940,343 12,535,617 12,535,000 OPERATING EXPENDITURES: Contractual Services - Trinity Metro 8,642,110.00 9,305,545.00 10,454,011 12,049,621 12,060,238 Total Operating Expenditures 8,642,110.00 9,305,545.00 10,454,011 12,049,621 12,060,238 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 336,524.00 278,852.00 476,332 475,379 464,762 Transfer to Economic Development - 22,981.00 - - - Total Transfers Out 336,524.00 301,833.00 476,332 475,379 464,762 TOTAL EXPENDITURES AND TRANSFERS 8,978,634.00 9,607,378.00 10,930,343 12,525,000 12,525,000 SURPLUS / (DEFICIT)5,957.00 (22,918.00) 10,000 10,617 10,000 ENDING FUND BALANCE:22,917.00 - 10,000 10,617 20,617 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND Section 2 76 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 6,671,015 7,055,269 7,050,269 7,050,269 6,930,235 OPERATING REVENUE: Sales Tax 3,872,769 4,699,128 3,643,448 3,636,161 4,175,000 Interest Income 104,318 9,055 110,000 109,780 10,000 Miscellaneous 1,409,926 457,535 - - - Total Operating Revenue 5,387,013 5,165,718 3,753,448 3,745,941 4,185,000 TOTAL REVENUE AND TRANSFERS 5,387,013 5,165,718 3,753,448 3,745,941 4,185,000 OPERATING EXPENDITURES: Personnel Services 523,166 376,433 416,902 505,576 529,366 Supplies 26,376 19,683 5,600 6,179 10,400 Maintenance 16,132 69,245 - - - Services 2,672,875 2,615,935 1,568,716 1,592,129 1,848,056 Insurance 56,816 73,857 81,827 81,688 81,859 Debt Service - - - - - Total Operating Expenditures 3,295,365 3,155,153 2,073,045 2,185,572 2,469,681 TRANSFERS OUT: Transfer to General Fund - Admin Fee - 262,000 - - - Transfer to Debt Service Fund 1,401,394 1,400,519 1,398,894 1,398,894 1,401,444 Transfer to General 306,000 353,046 281,509 281,509 313,875 TRANSFERS OUT 1,707,394 2,015,565 1,680,403 1,680,403 1,715,319 TOTAL EXPENDITURES AND TRANSFERS 5,002,759 5,170,718 3,753,448 3,865,975 4,185,000 SURPLUS / (DEFICIT) 384,254 (5,000) - (120,034) - ENDING FUND BALANCE AVAILABLE:7,055,269 7,050,269 7,050,269 6,930,235 6,930,235 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122, 124) Section 2 81 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE:8,608,835 7,289,596 6,681,805 6,681,805 7,560,480 OPERATING REVENUE: Property Taxes Current 12,744,716 13,012,296 13,352,507 13,352,507 13,101,524 Property Taxes Delinquent 121,102 97,756 70,000 70,000 70,000 Interest Income 118,835 7,432 150,000 150,000 150,000 Total Operating Revenue 12,984,653 13,117,484 13,572,507 13,572,507 13,321,524 TRANSFERS IN: Transfer from CVB Fund 985,670 998,850 658,675 658,675 659,425 Transfer from Economic Development Fund 1,401,394 1,400,519 1,398,894 1,398,894 1,401,444 Total Transfers In 2,387,064 2,399,369 2,057,569 2,057,569 2,060,869 TOTAL REVENUE AND TRANSFERS 15,371,717 15,516,853 15,630,076 15,630,076 15,382,393 OPERATING EXPENDITURES: G. O. Bond Interest Payments 3,692,383 3,265,983 1,814,132 1,814,132 1,595,543 G. O. Bond Principal Payments 7,565,000 6,935,000 6,220,000 6,220,000 6,485,000 C. O. Interest Payments 1,116,999 1,577,364 2,018,375 2,018,375 1,684,063 C. O Principle Payments 1,317,553 1,695,000 3,300,000 3,300,000 2,675,000 Tax and Note Interest Payments 558,957 525,519 498,894 498,894 471,444 Tax and Note Principal Payments 1,455,000 875,000 900,000 900,000 930,000 Fiscal Agent and Bond Fees 15,064 45,080,467 - - - Transfers - - - - 661,919 Total Operating Expenditures 15,720,956 59,954,333 14,751,401 14,751,401 14,502,969 TRANSFERS OUT:970,000 - - - - TOTAL EXPENDITURES AND TRANSFERS 16,690,956 59,954,333 14,751,401 14,751,401 14,502,969 SURPLUS (DEFICIT) OF REVENUE OVER (UNDER) EXPENDITURES:(1,319,239) 642,987 878,675 878,675 879,424 ENDING FUND BALANCE:7,289,596 6,681,805 7,560,480 7,560,480 8,439,904 FUND BALANCE REQUIREMENT:3,101,120 2,934,023 2,909,865 2,909,865 2,860,860 Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2022-2023 projected Ending Fund Balance represents 58% of total budgeted expenditures (212 days of operation). FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND Section 1 131 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING UNRESTRICTED FUND BALANCE: 10,091,762 17,388,000 19,697,181 19,697,181 19,712,970 OPERATING REVENUE: Water Sales 15,752,529 16,062,329 15,675,000 16,174,650 16,995,000 Wastewater Sales 7,735,969 8,391,822 8,000,000 8,450,000 8,895,000 Tap & Inspection Fees 2,543,467 2,537,656 85,000 84,830 2,555,000 Reconnects & Transfers 106,928 39,353 160,000 159,680 160,000 Interest Income 155,033 19,334 200,000 199,600 200,000 Miscellaneous Income 4,723,323 9,837,096 275,500 325,449 825,500 Total Operating Revenue 31,017,249 36,887,590 24,395,500 25,394,209 29,630,500 TRANSFERS IN/CONTRIBUTIONS: 1,740,977 4,261,235 - - 661,919 TOTAL REVENUE AND TRANSFERS 32,758,226 41,148,825 24,395,500 25,394,209 30,292,419 OPERATING EXPENDITURES: Personnel 3,787,028 3,606,568 4,007,053 4,000,837 4,179,063 Supplies 660,509 1,170,390 1,209,610 1,390,515 1,492,805 Maintenance 1,403,191 1,558,013 2,140,900 2,220,476 2,376,100 Services 15,264,220 15,891,690 14,285,362 14,945,537 18,292,296 Debt Service 1,106,203 1,096,751 3,000 2,994 664,919 Insurance 1,047,341 1,021,385 1,054,912 1,123,398 1,202,510 Capital Outlay 308,347 287,029 --234,665 Total Expenditures 23,576,839 24,631,826 22,700,837 23,683,757 28,442,358 TRANSFERS OUT:1,885,149 1,817,850 1,694,663 1,694,663 1,773,038 TOTAL EXPENDITURES AND TRANSFERS 25,461,988 26,449,676 24,395,500 25,378,420 30,215,396 SURPLUS / (DEFICIT) 7,296,238 14,699,149 -15,789 77,023 ENDING UNRESTRICTED WORKING CAPITAL:17,388,000 19,697,181 19,697,181 19,712,970 19,789,993 WORKING CAPITAL REQUIREMENT:3,772,294 3,941,092 3,632,134 3,789,401 4,550,777 Working capital requirement is 16% of total net budgeted expenditures or 60 days of operation. The FY 2022-23 projected Ending Working Capital Balance represents 254 days of operation. FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND Section 3 1 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL:(762,269) (597,766) (232,818) (232,818) (225,843) OPERATING REVENUES: Cart and Club Rentals 647,337 790,187 680,000 678,640 770,000 Tournament Fees 1,430 6,860 2,500 2,495 2,500 Driving Range 176,898 226,596 240,000 243,000 240,000 Golf Pro Shop Sales 193,723 284,766 250,000 249,500 350,000 Golf Course Green Fees 1,486,516 1,796,000 1,707,000 1,703,586 1,810,000 Annual Green Fee Memberships 247,000 354,250 325,000 324,350 400,000 Restaurant % of Sales 33,663 23,108 60,000 59,880 10,000 Lesson Income 14,920 25,580 15,000 14,970 20,000 Interest Income 1,406 - 3,000 2,994 3,000 Golf Sub-Lease 235,264 307,634 270,000 269,460 310,000 Miscellaneous Income 20,489 263,763 20,000 19,960 20,000 Total Operating Revenue 3,058,646 4,078,744 3,572,500 3,568,835 3,935,500 TOTAL REVENUES AND TRANSFERS 3,058,646 4,078,744 3,572,500 3,568,835 3,935,500 OPERATING EXPENDITURES: Personnel 1,394,369 1,501,716 1,551,359 1,431,839 1,613,421 Supplies 353,419 395,095 422,894 493,374 538,500 Maintenance 103,616 139,842 130,600 136,571 154,500 Services 361,315 434,616 457,302 495,122 531,419 Insurance 463,485 424,434 445,975 491,377 528,260 Capital Outlay 106,476 683,101 440,000 400,400 180,000 Total Operating Expenditures 2,782,680 3,578,804 3,448,130 3,448,684 3,546,100 TRANSFERS OUT: Transfer to General Fund - Admin Fee 111,463 134,992 124,370 113,177 125,000 Total Transfers Out 111,463 134,992 124,370 113,177 125,000 TOTAL EXPENDITURES AND TRANSFERS 2,894,143 3,713,796 3,572,500 3,561,860 3,671,100 SURPLUS / (DEFICIT) 164,503 364,948 - 6,975 264,400 ENDING WORKING CAPITAL:(597,766) (232,818) (232,818) (225,843) 38,557 FUND BALANCE REQUIREMENT:686,140 882,445 850,224 850,360 874,381 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 2022-23. FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND Section 3 25 2019-20 2020-21 2021-22 2021-22 2022-23 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE:1,102,856 (15,019) (329,841) (329,841) (1,969,841) OPERATING REVENUE: Interest Income 40,289 1,418 10,000 10,000 10,000 Miscellaneous 74,995 33,258 - - - Total Operating Revenue 115,284 34,676 10,000 10,000 10,000 TRANSFERS IN:3,279,000 - 1,640,000 - 1,640,000 TOTAL REVENUE AND TRANSFERS 3,394,284 34,676 1,650,000 10,000 1,650,000 OPERATING EXPENDITURES: Facilities Maintenance 517,614 185,030 850,000 850,000 605,000 Parks Maintenance 2,291,184 681,896 800,000 800,000 1,162,000 Street Maintenance and Overlay 1,703,363 1,132,965 - - 2,045,000 Total Operating Expenditures 4,512,161 1,999,891 1,650,000 1,650,000 3,812,000 TOTAL EXPENDITURES AND TRANSFERS 4,512,161 1,999,891 1,650,000 1,650,000 3,812,000 FY 2022-23 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL/STREET MAINTENANCE PROGRAM Section 1 135