Loading...
HomeMy WebLinkAboutItem 10 - Budget Public HearingMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 5, 2023 SUBJECT: PUBLIC HEARING ON THE FISCAL YEAR 2023-2024 OPERATING BUDGET RECOMMENDATION: City Council to conduct a public hearing on the proposed Fiscal Year 2023-2024 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 5, 2023 and final action on the budget shall be taken thereafter. A copy of the proposed FY2024 budget summary is attached. The budget contains fund expenditures in the following amounts: 100 General Fund 115 Convention & Visitors Bureau Fund 215 Convention & Leisure Incentives Fund 116 Stormwater Drainage Fund 117 Crime Control & Prevention District Fund 119 Lake Parks Special Revenue Fund 120 4-B / Trinity Metro Fund 124 Economic Development Fund 130 Debt Service Fund 200 Utility Enterprise Fund 210 Golf Enterprise Fund 174 Permanent Capital Maintenance Fund $80,016,454 24,867,074 4,980,602 1,552,532 23,109,049 3,061,290 14,062,500 4,135,511 14,504,118 31,417,698 6,457,049 4,170,000 The FY 2024 proposed budget is available for viewing on the City's website and in the City Secretary's Office in City Hall. GWL FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 11,574,295 11,540,690 14,694,600 14,694,600 14,694,600 OPERATING REVENUE: Ad Valorem Taxes 13,521,636 13,948,203 14,630,519 14,504,214 15,011,862 Sales Taxes 28,590,889 36,748,631 33,400,000 33,400,000 1 37,500,000 Mixed Beverage Taxes 1,793,124 2,377,346 2,157,000 2,154627 2,500,000 Franchise Fees 5,858,497 6,369,312 6,025,000 6,079:177 6,100,000 Licenses & Permits 1,472,258 1,348,858 1,609,746 1,607,975 1,964,255 Charges for Services 8,218,525 7,852,670 9,747,281 9,725,175 9,898,621 Intergovernmental 3,990,496 3,649,930 344,094 343715 283,843 Fines and Forfeitures 967,117 1,082,433 1,018,300 1,038:745 ~ 1,031,200 Miscellaneous 2,200,160 3,874,028 959,600 1,014,664 1,027,100 Total Operating Revenue 66,612,702 77,251,411 69,891,540 69,868,292 75,316,881 TRANSFERS IN: Administrative Fee - Utility Fund 1,817,850 2,086,555 1,773,038 1,773,038 2,199,481 Administrative Fee - CVB Fund 1,213,537 1,497,906 1,549,798 1,549,798 1,869,755 Administrative Fee - Golf Fund 134,992 146,012 125,000 125000 168,750 Administrative Fee - SDUS Fund 108,750 114,652 109,013 109:013 110,025 Administrative Fee - 4B Fund 353,046 429,121 313,875 313,875 351,562 Transfer In From Fund 114 244,134 - - - - Total Transfers In 3,872,309 4,274,246 3,870,724 3,870,724 4,699,573 TOTAL REVENUE AND TRANSFERS 70,485,011 81,525,657 73,762,264 73,739,016 80,016,454 OPERATING EXPENDITURES: Personnel 34,415,043 35,213,702 37,386,031 37,382,292 39,892,689 Supplies 2,992,664 4,887,962 3,581,056 3,577,475 3,917,093 Maintenance 1,487,167 1,430,587 1,746,843 1,745,096 1,888,037 Services 12,878,968 13,758,581 14,181,288 14,167,107 16,148,811 Capital Outlay 85,576 606,829 149,500 149,500 191,282 Insurance 8,675,694 8,297,846 10,557,971 10,557,971 10,639,883 Total Operating Expenditures 60,535,112 64,195,507 67,602,689 67,579,441 72,677,795 TRANSFERS OUT: Transfer To CCPD Fund 5,513,302 4,291,740 4,519,575 4,519,575 3,759,649 Oper.Trans.Out-Perm. Cap - 5,124,000 1,640,000 1,640,000 2,670,000 Transfer To Capital - 960,500 - - - Transfer Out To Fund 6,856 - - - - Transfer To Lake Parks 4,463,346 - - - - Transfer To Quality Of Life - 1,500,000 - - 909,010 Transfer To Capital Projects - 2,300,000 - - - Total Transfers Out 9,983,504 14,176,240 6,159,575 6,159,575 7,338,659 TOTAL EXPENDITURES AND TRANSFERS 70,518,616 78,371,747 73,762,264 73,739,016 80,016,454 SURPLUS (DEFICIT) (33,605) 3,153,910 - - - �ENDING FUND BALANCE: 11,540,690 14,694,600 14,694,600 14,694,600 14,694,600 FUND BALANCE REQUIREMENT: 11,363,423 12,448,500 12,660,294 12,658,822 14,535,559 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2023-24 projected Ending Fund Balance represents 2 1 % of total budgeted expenditures (77 days of operation). Section 1 1 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND VISITORS BUREAU FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 12,360,314 12,086,435 20,061,329 20,061,329 22,017,270 OPERATING REVENUE: Occupancy Taxes 9,594,700 15,780,448 13,493,868 15,992,642 14,733,581 Facility Rental Income 403,907 651,272 869,600 867,861 869,600 Interest Income 24,922 143,448 13,000 12,974 13,000 Sales & Merchandise 367,171 804,584 887,000 885,226 887,000 Train Operations 1,960,902 3,461,529 3,314,000 2,500,000 3,987,868 Festivals & New Vintage 2,419,146 3,667,168 2,903,400 1,514,548 4,021,936 Visitor Shuttle System 2,508 8,514 - - - Miscellaneous Income 264,682 614,256 379,086 378,328 417,086 Total Operating Revenue 15,037,938 25,131,219 21,859,954 22,151,578 24,930,071 TRANSFERS IN: Transfer In From 4B 278,852 148,372 464,762 463,832 409,163 Total Transfers In 278,852 148,372 464,762 463,832 409,163 TOTAL REVENUE & TRANSFERS 15,316,790 25,279,591 22,324,716 22,615,411 25,339,234 OPERATING EXPENDITURES: Personnel 5,648,208 5,844,495 6,733,813 5,014,134 7,338,508 Supplies 199,583 348,998 599,725 734,000 706,450 Maintenance 137,677 206,490 315,830 299,295 292,730 Services 2,462,090 3,131,593 5,778,250 4,698,371 6,229,814 Insurance 1,360,417 1,258,682 1,596,600 1,544,583 1,764,349 Festival & Train Operations 3,506,712 4,312,858 5,041,275 6,109,863 5,956,068 Capital Outlay 18,223 - - - - Total Operating Expenditures 13,332,910 15,103,116 20,065,493 18,400,246 22,287,919 TRANSFERS OUT: Transfer to General Fund - Admin Fee 1,213,537 1,497,906 1,549,798 1,549,798 1,869,755 Transfer to GTRP Fund 20,000 20,000 25,000 25,000 25,000 Trans. to Debt Service Fund 998,850 658,675 659,425 659,425 659,400 Transfer to Historic Preservation Fund 372 - - - - Transfer to Heritage Fund 25,000 25,000 25,000 25,000 25,000 Total Transfers Out 2,257,759 2,201,581 2,259,223 2,259,223 2,579,155 TOTAL EXPENDITURES & TRANSFERS 15,590,669 17,304,697 22,324,716 20,659,469 24,867,074 SURPLUS / (DEFICIT) (273,879) 7,974,894 - 1,955,941 472,160 ENDING FUND BALANCE: 12,086,435 20,061,329 20,061,329 22,017,270 22,489,430 FUND BALANCE REQUIREMENT: 2,191,711 2,482,704 3,298,437 3,024,698 3,663,768 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2023-24 projected Ending Fund Balance represents 226 days of operation. Section 2 1 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONVENTION AND LEISURE INCENTIVES FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 5,041,387 4,474,236 5,383,684 5,383,684 5,155,641 OPERATING REVENUE: Occupayncy Taxes 3,031,073 5,249,972 4,492,133 3,800,000 5,071,496 Interest Income 3,502 39,848 1,000 50,000 1,000 Miscellaneous 28,294 131,496 10,000 10,000 10,000 Total Operating Revenue 3,062,869 5,421,316 4,503,133 3,860,000 5,082,496 TOTAL REVENUE AND TRANSFERS 3,062,869 5,421,316 4,503,133 3,860,000 5,082,496 OPERATING EXPENDITURES: Supplies - 225 - - - Services 3,630,020 4,511,643 4,503,133 4,088,043 4,980,602 Total Operating Expenditures 3,630,020 4,511,868 4,503,133 4,088,043 4,980,602 TRANSFERS OUT: - - - - - TOTAL EXPENDITURES AND TRANSFERS 3,630,020 4,511,868 4,503,133 4,088,043 4,980,602 SURPLUS / (DEFICIT) (567,151) 909,448 - (228,043) 101,894 ENDING FUND BALANCE: 4,474,236 5,383,684 5,383,684 5,155,641 5,257,535 Section 2 24 STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE STORMWATER DRAINAGE UTILITY FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 1,769,375 1,582,830 1,453,097 1,453,097 1,406,951 OPERATING REVENUE: Drainage Utility Fees 1,504,793 1,516,846 1,479,709 1,476,750 1,535,532 Interest Income 1,223 8,401 15,000 14,970 15,000 Interest Income - 2000 C.O. 196 1,748 2,000 1,996 2,000 Miscellaneous 449 1,050 - - - Total Operating Revenue 1,506,661 1,528,045 1,496,709 1,493,716 1,552,532 TRANSFERS IN: - - - - - TOTAL REVENUE AND TRANSFERS 1,506,661 1,528,045 1,496,709 1,493,716 1,552,532 OPERATING EXPENDITURES: Personnel 565,161 542,446 605,357 604,146 627,296 Supplies 18,574 21,310 35,700 33,334 35,700 Maintenance 89,536 200,844 125,000 124,750 125,000 Services 213,709 14,389 217,840 267,183 220,165 Insurance 116,862 180,574 193,799 192,449 224,346 Capital Outlay 580,614 607,896 210,000 210,000 210,000 Total Operating Expenditures 1,584,456 1,567,459 1,387,696 1,431,861 1,442,507 TRANSFERS OUT: Transfer to General Fund - Admin Fee 108,750 114,652 109,013 108,000 110,025 Total Transfers Out 108,750 114,652 109,013 108,000 110,025 TOTAL EXPENDITURES AND TRANSFERS 1,693,206 1,682,111 1,496,709 1,539,861 1,552,532 SURPLUS / (DEFICIT) (186,545) (129,733) - (46,146) - ENDING FUND BALANCE: 1,582,830 1,453,097 1,453,097 1,406,951 1,406,951 FUND BALANCE REQUIREMENT: 277,686 275,866 245,460 252,537 254,615 * Fund balance requirement is 16.4% of total budgeted expenditures (60 days of operation). The FY 2023-24 projected Ending Fund Balance represents 415 days of operation. Section 2 28 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CRIME CONTROL & PREVENTION DISTRICT 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (2,824,924) 13,626 2,885,388 2,885,388 3,876,635 OPERATING REVENUE: Sales Tax (1/2 cent) 14,039,776 18,017,690 16,700,000 16,700,000 18,750,000 Jail Services - - - 445,969 446,000 Commercial Vehicle Enforcement 48,494 59,448 107,000 106,786 107,000 Interest Income 461 28,950 35,000 34,930 35,000 Miscellaneous 43,122 37,464 11,400 11,390 11,400 Total Operating Revenue 14,131,853 18,143,552 16,853,400 17,299,075 19,349,400 TRANSFERS IN: Transfer from General Fund 5,513,302 4,291,740 4,519,575 4,510,536 3,759,649 Transfer from Capital Projects Fund 1,390,053 - - - - Total Transfers In 6,903,355 4,291,740 4,519,575 4,510,536 3,759,649 TOTAL REVENUE AND TRANSFERS 21,035,208 22,435,292 21,372,975 21,809,611 23,109,049 OPERATING EXPENDITURES: Personnel 13,135,654 13,934,798 15,089,470 14,702,001 15,852,078 Supplies 508,328 656,996 644,384 639,579 758,910 Maintenance 104,489 185,884 114,200 93,538 145,950 Insurance 2,790,273 3,040,160 3,369,197 3,362,109 4,029,571 Services 1,539,910 1,738,274 2,155,724 2,021,138 2,282,540 Capital Outlay 118,004 7,418 - - 40,000 Total Operating Expenditures 18,196,658 19,563,530 21,372,975 20,818,364 P 23,109,049 TOTAL EXPENDITURES AND TRANSFERS 18,196,658 19,563,530 21,372,975 20,818,364 23,109,049 SURPLUS / (DEFICIT) 2,838,550 2,871,762 - 991,247 - 1 ENDING FUND BALANCE: 13,626 2,885,388 2,885,388 3,876,635 3,876,635 Section 2 34 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (4,496,443) - 279,278 279,278 1,071,469 OPERATING REVENUE: Boat Ramp Fees 104,843 108,770 130,000 129,740 130,000 Pavilion Fees 33,650 42,710 42,000 41,916 45,000 Camping Fees 2,037,298 2,033,784 2,385,000 2,380,230 2,400,000 Entrance Fees 289,043 370,287 305,000 304,390 365,000 Recreation Fees 265,105 466,330 395,000 394,210 456,000 Merchandise and Other Sales 193,132 201,343 118,000 117,764 130,000 Total Operating Revenue 2,923,071 3,223,224 3,375,000 3,368,250 3,526,000 TRANSFERS IN: 4,463,346 - - - - TOTAL REVENUE AND TRANSFERS 7,386,417 3,223,224 3,375,000 3,368,250 ' 3,526,000 OPERATING EXPENDITURES: Personnel 445,474 540,039 491,602 449:031 612,130 Supplies 198,726 202,486 217,250 215397 255,000 Maintenance 354,224 226,098 296,250 259,922 313,250 Services 1,704,642 1,759,987 1,484,369 1,392,709 1,619,423 Insurance 85,591 84,479 138,778 127,835 176,487 Capital Outlay 101,319 130,857 93,000 131,165 85,000 Total Operating Expenditures 2,889,976 2,943,946 2,721,249 2,576,059 3,061,290 Total Transfers Out - - - - - TOTAL EXPENDITURES AND TRANSFERS 2,889,976 2,943,946 2,721,249 2,576,059 3,061,290 SURPLUS / (DEFICIT) 4,496,443 279,278 653,751 792,191 464,710 ENDING FUND BALANCE: - 279,278 933,029 1,071,469 1,536,179 Section 2 51 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 22,918 - 23,347 23,347 45,511 OPERATING REVENUE: Sales Tax 9,584,397 12,722,205 12,525,000 12,525,000 14,062,500 Interest Income 63 - 10,000 10,617 , 10,000 Total Operating Revenue 9,584,460 12,722,205 12,535,000 12,535,617 , 14,072,500 TOTAL REVENUE AND TRANSFERS 9,584,460 12,722,205 12,535,000 12,535,617 14,072,500 OPERATING EXPENDITURES: Contractual Services - Trinity Metro 9,305,545 12,550,487 12,060,238 12,049,621 13,653,337 Total Operating Expenditures 9,305,545 12,550,487 12,060,238 12,049,621 13,653,337 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 278,852 148,372 464,762 463,832 409,163 Transfer to Economic Development 22,981 - - - ` - Total Transfers Out 301,833 148,372 464,762 463,832 , 409,163 TOTAL EXPENDITURES AND TRANSFERS 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 SURPLUS / (DEFICIT) (22,918) 23,346 10,000 22,164 10,000 ENDING FUND BALANCE: - 23,347 33,347 45,511 55,511 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122, 124) BEGINNING FUND BALANCE: OPERATING REVENUE: Sales Tax Interest Income Miscellaneous Total Operating Revenue TOTAL REVENUE AND TRANSFERS OPERATING EXPENDITURES: Personnel Services Supplies Maintenance Services Insurance Total Operating Expenditures TRANSFERS OUT: Transfer to General Fund - Admin Fee Transfer to Debt Service Fund Transfer to General TRANSFERS OUT TOTAL EXPENDITURES AND TRANSFERS SURPLUS / (DEFICIT) ENDING FUND BALANCE AVAILABLE: 2020-21 Actual 12,214,640 4,699,128 9,055 457,535 5,165,718 5,165,718 376,433 19,683 69,245 2,615,935 73,857 3,155,153 262,000 1,400,519 353,046 2,015,565 5,170,718 (5,000) 12,209,640 2021-22 2022-23 Actual Budget 12,209,640 13,3 88,939 5,638,320 4,175,000 83,301 10,000 56,883 - 5,778,504 4,185,000 5,778,504 4,185,000 504,347 529,366 228,818 10,400 15,948 - 1,916,921 1,848,056 105,156 81,859 2,771,190 2,469,681 1,398,894 1,401,444 429,121 313,875 1,828,015 1,715,319 4,599,205 4,185,000 1,179,299 - 13,388,939 13,388,939 2022-23 2023-24 Estimate Proposed 13,388,939 13,770,776 4,166,650 4,687,500 9,980 10,000 4,176,630 4,697,500 4,176,630 4,697,500 505,744 457,431 10,379 12,900 1,597,527 1,862,656 740 52,793 2,114,390 2,385,780 1,398,894 1,398,169 281,509 351,562 1,680,403 , 1,749,731 3,794,793 4,135,511 381,837 561,989 13,770,776 14,332,765 1 Section 2 80 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DEBT SERVICE FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 7,289,596 6,681,805 6,997,402 6,997,402 7,876,826 OPERATING REVENUE: Property Taxes Current 13,012,296 12,926,116 13,101,524 13,101,524 13,105,949 Property Taxes Delinquent 97,756 131,464 70,000 70,000 70,000 Miscellaneous Revenue - 22,915 - - - Interest Income 7,432 55,788 150,000 150,000 150,000 Total Operating Revenue 13,117,484 13,136,283 13,321,524 13,321,524 13,325,949 TRANSFERS IN: Transfer from CVB Fund 998,850 658,675 659,425 659,425 659,400 Transfer from Economic Development Fund 1,400,519 1,398,894 1,401,444 1,401,444 1,398,169 Total Transfers In 2,399,369 2,057,569 2,060,869 2,060,869 2,057,569 TOTAL REVENUE AND TRANSFERS 15,516,853 15,193,852 15,382,393 15,382,393 15,383,518 OPERATING EXPENDITURES: G. O. Bond Interest Payments 3,265,983 1,814,132 1,595,543 1,595,543 1,389,543 G. O. Bond Principal Payments 6,935,000 6,220,000 6,485,000 6,485,000 5,710,000 C. O. Interest Payments 1,577,364 1,772,637 1,684,063 1,684,063 2,111,850 C. O Principle Payments 1,695,000 2,875,000 2,675,000 2,675,000 3,235,000 Tax and Note Interest Payments 525,519 498,894 471,444 471,444 443,169 Tax and Note Principal Payments 875,000 900,000 930,000 930,000 955,000 Fiscal Agent and Bond Fees 15,064 126,854 - - - Transfers 1,120,006 670,738 661,919 661,919 659,556 Total Operating Expenditures 16,008,936 14,878,255 14,502,969 14,502,969 14,504,118 TRANSFERS OUT: - - - - TOTAL EXPENDITURES AND TRANSFERS 16,008,936 14,878,255 14,502,969 14,502,969 14,504,118 (DEFICIT) OF REVENUE (SURPLUS OVER (UNDER) EXPENDITURES: (492,083) 315,597 879,424 879,424 879,400 II ENDING FUND BALANCE: 6,681,805 6,997,402 7,876,826 7,876,826 8,756,226 FUND BALANCE REQUIREMENT: 3,157,927 2,909,865 2,860,860 2,860,860 2,861,086 * Fund balance requirement is 20% of total budgeted expenditures (72 days of operation). The FY 2023-2024 projected Ending Fund Balance represents 60% of total budgeted expenditures (220 days of operation). Section 1 127 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE UTILITY ENTERPRISE FUND 2020-21 2021-22 2022-23 Actual Actual Budget BEGINNING UNRESTRICTED FUND BALANCE: 34,564,285 49,263,434 19,697,181 OPERATING REVENUE: Water Sales Wastewater Sales Tap & Inspection Fees Reconnects & Transfers Interest Income Miscellaneous Income Total Operating Revenue TRANSFERS IN/CONTRIBUTIONS: TOTAL REVENUE AND TRANSFERS OPERATING EXPENDITURES: Personnel Supplies Maintenance Services Debt Service Insurance Capital Outlay Total Expenditures TRANSFERS OUT: TOTAL EXPENDITURES AND TRANSFERS SURPLUS / (DEFICIT) ENDING UNRESTRICTED WORKING CAPITAL: WORKING CAPITAL REQUIREMENT: 16,062,329 18,3 84,73 8 16,995,000 8,391,822 8,974,247 8,895,000 2,537,656 2,528,582 2,555,000 39,353 279,410 160,000 19,334 179,309 200,000 9,837,096 1,634,997 825,500 36,887,590 31,981,283 29,630,500 4,261,235 10,894,609 661,919 41,148,825 42,875,892 30,292,419 3,606,568 1,170,390 1,558,013 15,891,690 1,096,751 1,021,385 287,029 24,631,826 3,748,090 1,394,805 2,553,200 17,800,451 627,652 931,679 423,821 27,479,698 4,179,063 1,492,805 2,376,100 18,292,296 664,919 1,202,510 234,665 28,442,358 1,817,850 2,086,555 1,773,038 26,449,676 29,566,253 30,215,396 14,699,149 13,309,639 77,023 49,263,434 19,697,181 19,774,204 3,941,092 4,396,752 4,550,777 * Working capital requirement is 16% of total net budgeted expenditures or 60 days of operation. The FY 2023-24 projected Ending Working Capital Balance represents 245 days of operation. 2022-23 2023-24 Estimate Proposed 19,697,181 N 19,990,471 in 17,184,630 18,550,000 8,750,000 9,100,000 2,549,890 2,529,000 159:680 160,000 199600 200,000 325,449 975,500 29,169,249 E 31,514,500 660,595 — 659,556 29,829,844 32,174,056 4,168,924 4,557,647 1,087,041 1,694,766 2,226,264 2,554,040 18,255,711 18,541,560 663,589 1,322,112 1,127,790 1,191,648 234,196 16,000 27,763,516 29,877,773 1,773,038 2,199,481 29,536,554 32,077,254 293,290 RN 96,802 19,990,471 20,087,273 4,442,163 4,780,444 Section 3 1 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GOLF FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING WORKING CAPITAL: (762,269) (397,321) 348,750 348,750 555,549 OPERATING REVENUES: Cart and Club Rentals 790,187 878,073 770,000 778,318 1,018,500 Tournament Fees 6,860 4,585 2,500 9,950 10,000 Driving Range 226,596 270,786 240,000 239,520 282,000 Golf Pro Shop Sales 284,766 404,759 350,000 454,853 450,000 Golf Course Green Fees 1,796,000 1,946,821 1,810,000 1,901,830 2,250,000 Annual Green Fee Memberships 354,250 313,000 400,000 399,200 480,000 Restaurant % of Sales 23,108 - 10,000 - - Lesson Income 25,580 16,296 20,000 30,282 30,000 Interest Income - 3,939 3,000 2,994 3,000 Golf Sub -Lease 307,634 398,479 310,000 455,362 450,000 Miscellaneous Income 263,763 23,764 20,000 40,481 297,000 Persimmons Food & Beverage - 5,784 - 1,082,229 1,597,000 Total Operating Revenue 4,078,744 4,266,286 3,935,500 5,395,019 6,867,500 TOTAL REVENUES AND TRANSFERS 4,078,744 4,266,286 3,935,500 5,395,019 6,867,500 OPERATING EXPENDITURES: Personnel 1,501,716 1,486,945 1,613,421 2,429,301 2,609,045 Supplies 395,095 591,261 538,500 925,858 1,133,500 Maintenance 139,842 160,648 154,500 161,652 164,600 Services 434,616 546,009 541,119 613,878 698,420 Insurance 424,434 417,319 528,260 499,650 766,734 Capital Outlay 683,101 172,021 180,000 444,132 916,000 Total Operating Expenditures 3,578,804 3,374,203 3,555,800 5,074,470 6,288,299 TRANSFERS OUT: Transfer to General Fund - Admin Fee 134,992 146,012 125,000 113,750 168,750 Total Transfers Out 134,992 146,012 125,000 113,750 168,750 TOTAL EXPENDITURES AND TRANSFERS 3,713,796 3,520,215 3,680,800 5,188,220 6,457,049 SURPLUS / (DEFICIT) 364,948 746,071 254,700 206,799 410,451 ENDING WORKING CAPITAL: (397,321) 348,750 603,450 555,549 966,000 FUND BALANCE REQUIREMENT: 882,445 831,995 876,773 1,251,239 1,550,539 * 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 Section 3 25 FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FUND 174 - CAPITAL/STREET MAINTENANCE PROGRAM 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: (329,841) - 4,329,960 4,329,960 2,167,960 OPERATING REVENUE: TXDOT 33,258 66,516 - - - Interest Income 1,418 27,677 10,000 10,000 10,000 Total Operating Revenue 34,676 94,193 10,000 10,000 10,000 TRANSFERS IN: 2,290,840 5,195,090 1,640,000 1,640,000 2,670,000 TOTAL REVENUE AND TRANSFERS 2,325,516 5,289,283 1,650,000 1,650,000 2,680,000 OPERATING EXPENDITURES: Facilities Maintenance 185,030 332,845 605,000 605,000 700,000 Parks Maintenance 681,896 572,682 1,162,000 1,162,000 P 1,162,000 Street Maintenance and Overlay 1,132,965 53,796 2,045,000 2,045,000 2,308,000 Total Operating Expenditures 1,999,891 959,323 3,812,000 3,812,000 4,170,000 TOTAL EXPENDITURES AND TRANSFERS 1,999,891 959,323 3,812,000 3,812,000 4,170,000 Section 1 131