HomeMy WebLinkAboutCouncil Presentation 05/20/2014 - FY2014-2015 Tentative Budget Presentation4 =mmmmm
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■ Structurally balanced budget
■ Maintains full contracting tax allocation of
75 to Transportation Fund
■
Est ablishes a � 10� or $3.OM contingency
■ $22.8M estimated ending reserve' (640)
- Provide adequate cash balances
- Maintain bond ratings
- Capacity for major projects
Note 1 - Estimated ending balance excludes $3.OM in contingency
■ Authorized positions - 328.33 FTE
- FY2014 - 319.33 (Increase of 9FTE)
- FTE increases were in areas that were determined to be vital
to the mission of local government
■ Compensation
- Market adjustments-
* 2% pay adjustment applied to salary structure and employee base
pay
■ Applies to all town employees except temporary seasonal staff and
employees whose salary falls above the maximum of the grade
- Special equity adjustments
— Addresses severe compression resulting from the implementation of
the classification and compensation study
— Cultural value excellence performance awards (one -time)
Primary Entity
General Fund
Special Revenue Funds
Capital Projects Funds
Debt Service Funds
Enterprise Funds
Internal Service Funds
2015
2014
Dollar
Percentage
Tentative
Adopted
Change
Change
$ 35,,706,,658
$ 31.,453,,939
$ 4,,252,,719
13.52%
8,,530,,457
9,946,312
(1.,415,,855)
- 14.23%
35.,322,,050
17,,783,,834
17.,538,,216
98.62%
5,,508,,888
5,,540,,472
(31,,584)
- 0.57%
19,974,059
12,,935,f675
7,,038,,384
54.41%
3,,754.,865
-
3.,754,,865
-%
Primary entity
Component Units
Special Districts
Total
108,796,977
6,198,142
77,660,232
5,221,992
31,136,745 40.09%
976,150 18.69%
$ 114,995,119
$ 82,882,224
$ 32,112,895 38.75%
Tentative Budget - $ 115M
Sales taxes, $27.3 ,�
240
Fun
nses, fees and
nits, $7.7 , 7%
harges for services,
$9.2,8%
ines and forfeiture,
$0.8,1%
Grants and
contributions, $3.0 ,
2%
scellaneous, $2.1 ,
2%
Internovernmentnl,
Tentative Budget - $ 115M
Contracted services,
$11.3, 10%
Personnel
benefits, $27
Debt service, $8.7
8%
)mmodities, $13.2
111%
.apital outlay, $54.7
, 470
■ Establishes the overall expenditure limitation
for FY2015 at $115M
■ Expenditure authority may only be
reallocated or reduced
■
Cont inues investment in key areas of current
employees., resources &tools, and strategic
positions
■ Budget reflects the careful allocation of
available resources