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Home My WebLink AboutItem 01 - FY 2005-2006 BudgetMEMO TO: FROM: MEETING DATE: SUBJECT: RECOMMENDATION: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL BRUNO RUMBELOW, ACTING CITY MANAGER SEPTEMBER 6, 2005 PUBLIC HEARING ON THE FY 2005-2006 BUDGET That the City Council conduct a public hearing on the proposed FY2005-2006 Annual Budget. The budget, as amended to include the service levels from the City Council workshop held on August 19, 2005 contains fund expenditures in the following amounts: General Fund Utility Fund Debt Service Fund Convention & Visitors Bureau Fund Lake Enterprise Fund General Government Capital Projects Fund Permanent Street Maintenance Fund Permanent Capital Maintenance Fund - General Utility & Lake Enterprise Capital Projects Fund Utility Permanent Capital Maintenance Fund Stormwater Drainage Utility Fund Lake Parks Special Revenue Fund BACKGROUND: 42,260,146 19,933,226 11,571,321 8,685,048 2,834,529 12,652,845 1,170, 000 562,800 3,579,438 2,337,425 1,548,113 379,851 In compliance with the "truth -in -taxation" laws the City of Grapevine published its "effective" and "rollback" tax rates in the Fort Worth Star Telegram on August 26, 2005. 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, 2005 and final action on the budget shall be taken at a special meeting on September 13, 2005. The City Council must adopt the annual budget no later than fifteen days prior to the beginning of the fiscal year. WAG/sit H:AGMPHBGT9-6-05 August 30, 2005 (4:40PM) FY 2005-06 APPROVED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE GENERAL FUND Revenues 2002-03 2003-04 2004-05 2004-05 2005-06 Actual Actual Budget Estimated APp i6ired Ad Valorem Taxes 7,152,013 6,069,610 7,528,170 7,427,841 6,0,1,823 Sales & Use Taxes 16,618,615 18,661,727 19,907,000 19,252,744 Franchise Fees 4,944,789 5,210,589 5,032,000 5,086,685 po Licenses & Permits 1,446,699 1,240,821 1,061,693 1,333,759 1,6;1'259 Charges for Services 4,031,664 4,180,612 3,295,287 3,253,192 505,724 Intergovernmental Revenue 129,428 112,859 173,543 119,648 ,' Fines and Forfeitures 2,102,796 1,964,610 2,240,780 1,685,662 8221400 Miscellaneous Revenue 3,043,654 2,220,264 2,839,611 2,694,796 Total 39,469,659 39,661,092 42,078,084 40,854,327 .-410"W"i"'129 Expenditures 2002-03 2003-04 2004-05 2004-05 100, 46 Actual Actual Budget Estimated ed Personnel 25,345,337 26,291,607 26,898,322 27,285,305 Supplies 2,368,813 2,357,092 2,188,132 2,306,920 2,4368 Maintenance 901,322 873,852 856,682 715,568, � Pi"311 Services 5,055,606 5,699,736 5,342,541 5,388,344 5,5,3`A107' Operating Transfers Out 37,866 70,361 75,000 75,000 Insurance 4,735,943 4,879,314 4,677,871 5,307,120 �5,49,7, 9 2 0 Permanent Capital Maintenance 170,900 170,900 535,300 541,300 Permanent Street Maintenance 860,000 860,000 1,130,000 1,130,000 -290'000 Capital Outlay 70,549 52,411 32,950 39,770 -0;000 Total 39,546,336 41,255,273 41,736,798 42,789,327; 42 146 o']N n ues:ovler Fxp6ixditures), 2002-03 2003-04 2004-05 2004-05 2005-06' Fund Balance Summary Actual Actual Budget Estimated Beginning Fund Balance 6,131,875 6,104,579 4,560,689 4,560,689 Contribution to Fund Balance (27,297) (1,543,890) 341,286 (1,935,000) (201:017) CV13 Loan Repayment 300,000 300,000 35-4-660 Other Financing Sources 1,635,000 ""'348 Adjusted Ending Fund Balance 6,104,579 4,560,689 5,201,975 4,560,689 Fund Balance Requirement 6,500,768 6,781,689 6,860,843 7,033,862 6,046;871 Balance over / (under) Requirement (396,189) (2,221,000) (1,658,868) (2,473,173), (1,961,$53) 11 FY 2005-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE UTILITY ENTERPRISE FUND Revenues Miscellaneous Income Water Sales Wastewater Sales Tap & Inspection Fees Reconnect & Transfer Charges Interest Income Total Expenditures Personnel Supplies Maintenance Services Utility Bond Payments Permanent Capital Maint. Capital Outlay Transfers Total 2002-03 2003-04 2004-05 Actual Actual Budget 111,071 615,046 75,000 9,656,844 9,654,650 10,862,709 5,469,755 5,884,104 6,197,651 186,998 159,064 195,500 287,510 334,655 270,000 281,733 165,314 250,000 15,993,911 16,812,833 17,850,860 2002-03 2003-04 2004-05 Actual Actual Budget 2,008,406 2,188,023 2,079,786 531,058 359,088 528,200 305,389 307,800 322,051 6,094,373 6,151,776 7,902,631 4,101,874 4,321,847 4,828,285 1,015,068 509,471 105,762 0 0 189,000 1,193,674 1,214,001 1,338,815 15,249,844 15,052,006 17,294,530 2004-05 Projected 450,900 10,144,3 56 6,241,162 172,128 262,463 192.432 17,463,441 2004-05 Projected 2,033,223 411,275 273,915 6,366,834 6,13 0,73 8 1,041,814 187,590 3.216,230 19,661,619 Fund Balance Summary 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected Beginning Working Capital 8,542,572 8,941,419 8,031,767 8,031,767 Retained Earnings 744,067 1,760,827 556,330 (2,198,178)`, Extraordinary Gain / (Loss) (345,220) (2,670,479) 0 (191,1 11) Ending Working Capital 8,941,419 8,031,767 8,588,097 5,642,478 Working Capital Requirement 2,506,824 2,474,302 2,842,936 3,232,047 Balance over Requirement 6,434,596 5,557,465 5,745,161 2,410,431 Working Capital balance requirement is 16.4% of total budgeted expenses or 60 days of operation. FY 2005-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE DEBT SERVICE FUND Revenues 2002-03 2003-04 2004-05 2004-05 Actual Actual Actual Budget Projected Property Taxes - Current 9,408,755 10,769,226 9,946,675 9,755,907 Property Taxes - Delinquent 70,610 26,276 65,000 112,817 Transfers from Other Funds 1,530,236 1,046,741 876,036 876,036 Palace Equity Contribution 349,378 347,290 349,940 349,940 Interest Income 85,130 63,799 65,000 77,899 Other Financing Resources 11,294,451 0 0 7,249,384 Total 22,738,560 12,253,332 11,302,651 18,421,982 Expenditures 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected G.O. Bond Interest Pymts. 3,943,839 3,516,745 3,274,442 3,274,442 G.O. Bond Principal Pymts. 4,830,000 5,490,000 5,140,000 5,140,000 C.O. Interest Pymnts. 733,565 685,988 592,542 592,542 C.O. Principal Pymts. 1,980,012 2,141,376 1,812,727 1,812,727 Palace Arts Center Pymts. 349,378 347,290 349,940 349,940 Other Financing Uses 10,745,000 0 0 7,072,710 Fiscal Agent & Bond Fees 467,164 5,407 3,000 182,019 Total 23,048,958 12,186,806 11,172,651 18,424,380 Fund Balance Summary 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Actual Beginning Fund Balance 2,204,990 1,446,264 1,512,790 1,512,790 Fund Balance Contribution (758,726) 66,526 130,000 (2,398) Ending Fund Balance 1,446,264 1,512,790 1,642,790 1,510,392 1! Fund Balance Requirement * 1,623,270 1,774,155 1,635,070 1,635,455 1, Balance Over Requirement (177,006) (261,365) 7,720 (125,063) * Requirement is 16.4% of total current budgeted net debt service expenditures (60 days of operation). FY 2005-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE CONVENTION & VISITORS BUREAU FUND Revenues 2002-03 2003-04 2004-05 2004-05 2005-06 Actual Actual Actual Budget Projected Ptoposed Occupancy Taxes 3,380,659 4,931,201 6,770,453 7,447,873 8;3(11;900, Convention Center Rental 385,954 354,304 390,000 400,000 438,000 Interest Income 2,885 1,366 0 6,370 .3,500 Sales &Merchandise 159,584 152,417 153,000 172,000 X82,000 Operating Transfers In 399,877 54,096 0 0 0 Train Operations 612,956 728,402 773,009 687,218 810;538' Train Contributions 0 69,458 3,000 62,512 0 Miscellaneous Income 7,463 42,964 55,000 110,652" 89,724' Total 4,949,378 6,334,208 8,144,462 8,886,625 978#15662 Expenditures 2002-03 2003-04 2004-05 2004-05 2005-06' Actual Actual Budget Projected "rapased. Personnel 2,011,751 2,211,549 2,760,087 2,500,339 3,166,586: Supplies 1,136,965 1,507,730 1,992,703 1,747,346 217'325 Maintenance 115,164 155,725 105,331 263,430 116,045 Services 1,378,479 1,580,837 1,828,264 2,008,812 1,985,974' Transfers 1,009,914 882,350 1,121,658 1,155,224 14 ,9681 Capital Outlay 18,500 109,788 34,863 18,518 821150 Total 5,670,772 6,447,980 7,842,906 7,693,669 8,685,048 Fund Balance Summary 2002-03 2003-04 2004-05 2004-05' Actual Actual Budget Actual Beginning Fund Balance (117,058) (877,481) (1,239,630) (1,239,630)' Contribution to Fund Balance (721,394) (113,772) 301,556 1,192,956 General Fund Loan / (Repayment) 0 0 (300,000) (300,000) Other Financing Sources (Uses) (39,029) (248,377) 0 0 Ending Fund Balance (877,481) (1,239,630) (1,238,074) (346,674) Fund Balance Requirement * 932,182 1,059,942 1,289,245 1,264,713 Balance over Requirement (1,809,663) (2,299,572) (2,527,319) (1,611,387) 156 FY 2005-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE LAKE ENTERPRISE FUND Revenues 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected Cart Rentals 575,427 677,371 750,200 720,000 Tournament Fees 4,150 5,440 6,600 5,000 Driving Range 8,720 13,553 10,000 15,000 Golf Pro Shop % of Sales 18,612 16,826 22,000 17,000 Golf Course Green Fees 1,337,989 1,531,284 1,686,630 1,650,000 Restaurant % of Sales 34,017 40,065 50.000 45,000 Lesson Income 20,428 14,327 25,000 10,000 Interest Income 28,168 5,481 10,500 4,100 Miscellaneous Income 160,515 272,804 180,000 174,375 Other Financing Sources 0 0 0 0 Total 2,203,428 2,607,742 2,740,930 2,640,475 Expenditures 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected Personnel 1,043,926 1,085,984 1,172,054 1,013,182 Supplies 180,135 183,663 196,225 182,058 Maintenance 54,959 64,544 67,104 62,100 Services 828,826 498,229 1,074,143 1,041,553 Permanent Capital Maint. 0 0 0 40,169 Transfers 673,446 698,886 205,382 198,036 Total 2,781,292 2,531,306 2,714,908 2,537,598 Fund Balance Summary 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected Beginning Working Capital 293,280 (159,082) (639,766) (639,766) Retained Earnings (577,865) 76,436 26,022 102,877 Extraordinary Gain / (Loss) 125,503 (557,120) Ending Working Capital (159,082) (639,766) (17,749) (536,889) FY 2005-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE STORMWATER DRAINAGE UTILITY FUND Revenues 2002-03 2003-04 2004-05 2004-05 20QS-06' Actual Actual Budget Projected Drainage Utility Fees 1,226,670 1,286,139 1,256,084 1,260,620 Interest Income 32,049 23,966 45,000 21,716 Interest Income - 2000 C.O. 14,135 6,872 0 7,472 Miscellaneous Revenue (14) 31 0 0 Total Fund Revenues 1,272,841 1,317,008 1,301,084 1,289,808 Expenditures 2002-03 2003-04 2004-05 2004-05 20QS-06' Actual Actual Budget Projected Personnel 330,431 354,781 305,595 320,571 Supplies 18,522 17,784 28,700 28,700 Maintenance 94,569 80,671 105,000 80,000 Services 131,094 105,562 118,639 118,199 Capital Outlay 90,240 78,950 0 7,532 Transfers 741,007 743,589 579,792 759,792 Total Fund Expenditures 1,405,863 1,381,337 1,137,726 1,314,794 Fund Balance Summary 2002-03 2003-04 2004-05 2004-05 20QS-06' Actual Actual Budget Projected Pi6posediii Beginning Fund Balance 3,427,566 2,794,326 2,474,083 2,474,083 2,44%01 7 Contribution to Fund Balance (133,022) (64,329) 163,358 (24,986) (221=,477) Other Financing Sources (Uses (500,218) (255,914) 0 0 0 Ending Fund Balance 2,794,326 2,474,083 2,637,441 2,449,097 2,227,620 ...... ............... Fund Balance Requirement * 351,466 345,334 284,432 328,699 387,028 Balance over Requirement 2,442,860 2,128,749 2,353,009 2,120,398 1,840,592 * Fund balance requirement is 25% of total budgeted expenses or 90 days of operation. FY 2001-06 PROPOSED OPERATING BUDGET STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE LAKE PARKS SPECIAL REVENUE FUND Revenues 2002-03 2003-04 2004-05 2004-05 20,015-06, Actual Actual Budget Projected WOO$ 6--d Boat Ramp Fees 132,929 129,212 133,000 143,224 MAO, Pavilion Fees 12,745 13,389 13,000 16,117 13,(00 Camping Fees 197,082 200,781 229,761 229,943 34'j65 Entrance Fees 5,040 7,709 5,000 9,144 6;500 Total Fund Revenues 347,796 351,092 380,761 398,428 4,81.,8G5 Expenditures 2002-03 2003-04 2004-05 2004-05 2005»06 Actual Actual Budget Projected Pru#osed Personnel 0 33,703 0 0 Supplies 10,876 5,281 13,500 12,043 Maintenance 89,645 28,926 45,000 37,800 Services 216,107 314,429 292,808 440,358 316;21,51,, Capital Outlay 0 8,700 0 41,880 0 Total Fund Expenditures 316,628 391,040 351,308 532,0817915 ContributionX-i di s), y pen 111"', 102,014" Fund Balance Summary 2002-03 2003-04 2004-05 2004-05 Actual Actual Budget Projected ePrlopoied Beginning Fund Balance 390 31,558 (8,390) (8,390) J142,043) Contribution to Fund Balance 31,168 (39,948) 29,453 (133,653) 122,014 Ending Fund Balance 31,558 (8,390) 21,063 (142,043) Permanent Capital & Street Maintenance Program FY 2005 -06 Proposed Operating Budget ACCOUNT NUMBER FACILITIES MAINTENANCE x`Y-2006 PROPOSED 174-74004-001 City Hall Repairs & Maintenance 56,500 174-74004-002 CAC Repairs & Maintenance 44;000 174-74004-003 Police / Courts Bldg. Repairs & Maintenance 38,000 174-74004-004 Service Center Repairs & Maintenance 23,800 174-74004-006 Senior Center Repairs & Maintenance 16,000 174-74004-007 Fire Station Repairs & Maintenance 57,500 174-74004-008 Animal Control Repairs & Maintenance 18,500 174-74004-009 Park Facilities Repairs & Maintenance 24,500 174-74004-011 Police Substation Maintenance 3,000 174-74004-014 Palace Arts Center 31000 174-74004-015 Water Tower Records Storage Center 3,000 S ecial Events Equipment Replacement NEW IAQ Testing 15,000 22,000 TOTAL FACILITIES MAINTENANCE $302,800 ACCOUNT NUMBER PARKS MAINTENANCE FY -2006 PROPOSED 174-74015-051 Centralized Irrigation System 45,000 174-74015-052 Median Landscaping 50,000 174-74015-053 Lamp Replacement at Athletic Facilities 10,000 174-74015-057 Fence Replacement 15,000 174-74015-059 ADA Accessibility / Drinking Fountains 6,000 174-740I5-060 Park Signage Replacement 91000 174-74015-061 Trash Receptacle Replacement 6,000 174-74015-064 Bleacher Replacement 15,000 174-74015-066 Small Park Amenities Replacement 8,000 174-74015-067 Playground Accessibility Improvements 20,000 174-74015-068 S ecial Events Equipment Replacement 3,000 174-74015-069 Fitness Equipment Replacement 22,000 174-74015-070 Aquatics Repairs and Replacements 8#00 NEW CAC Security Cameras 11,000 NEW Main Street Benches & Trash Receptacles 20,000 ` NEW Christmas Decorations 12,000 TOTAL PARKS MAINTENANCE $260,{140 ACCOUNT STREET & SIGNAL MAINTENANCE NUMBER FY -2006 PROPOSED 174-43301-090 Annual Street Maintenance & Overlay Program 11000,000 174-43301-093 Traffic Signal, Signing & Striping Maintenance 170;000 TOTAL STREET & SIGNAL MAINTENANCE TOTAL PCMF & PSMF PROGRAM PROPOSALS LESS: PRIOR YEAR CARRYOVER FUNDING LESS: STREET BOND INTEREST FUNDING LESS: DEBT ISSUANCE FUNDING FY 2005-06 Proposed Capital Improvement Plan Summary of Projects By Category General Government Capital Projects Street and Drainage Improvements $9,353,544 Buildings and Facilities $485,000 Parks, Beautification and Miscellaneous $2,814,301 Total General Government Projects $12,652,845 Water and Wastewater Capital Projects Water System Improvements $1,742,549 Wastewater System Improvements $1,836,889 Total Water and Wastewater Projects $3,579,438 STRAII1111-HIM ° ° i Operating Budget Impacts General Government Capital Projects $985,851 Water and Wastwater Capital Projects $194 Total Operating Budget Impacts $986,045 Operating Budget Impacts (By Fund) General Fund $3,500 Convention & Visitors Fund $535,000 Stormwater Drainage Utility Fund $486,601 Lake Parks Special Revenue Fund $10,750 Utility Enterprise Fund $194 Total Operating Budget Impacts (By Fund) $1,036,045