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Home My WebLink AboutCouncil Presentation 05-21-2019 2020 Tentative Budget PresentationPublic Hearing: Fiscal year 2019-2020 Tentative Budget May 21, 2019 FY2020 TENTATIVE BUDGET BUDGET BRIEFING Tentative Budget brings forward operating funds presented at Manager’s Recommended Budget and adds: Special Revenue Funds Capital Projects Funds (including impact fees) Debt Service Funds Internal Service Funds If approved, Tentative Budget establishes the overall expenditure limitation (Home Rule) FY2020 TENTATIVE BUDGET BUDGET BRIEFING The Tentative Budget is presented on the required Auditor General Forms Schedule A—Summary Schedule of Estimated Revenues and Expenditures/Expenses Schedule B—Tax Levy and Tax Rate Information Schedule C—Revenues Other Than Property Taxes Schedule D—Other Financing Sources/<Uses> and Interfund Transfers Schedule E—Expenditures/Expenses by Fund Schedule F—Expenditures/Expenses by Department (as applicable) Schedule G—Full-Time Employees and Personnel Compensation FY2020 EXPENDITURE SUMMARY BUDGET BRIEFING 2020 Tentative 2019 Adopted Dollar Change Percentage Change Primary Entity General Fund $51,751,547 $49,816,341 $1,935,206 3.90% Special Revenue Funds 11,045,733 9,425,278 1,620,454 17.20% Capital Projects Funds 22,142,106 39,578,817 -17,436,711 -44.10% Debt Service Funds 5,933,359 5,143,294 790,065 15.40% Enterprise Funds 39,915,310 25,523,037 14,392,273 56.40% Internal Service Funds 5,049,200 4,231,566 817,634 19.30% Primary entity 135,837,255 133,718,333 2,118,922 1.60% Component Units Special Districts 7,943,540 7,951,947 -8,407 -0.10% Total $143,780,795 $141,670,280 $2,110,515 1.50% BUDGET BRIEFING FY2020 REVENUES/SOURCES Sales taxes $33.7M, 23% Property taxes $1.2M, 1% Intergovernmental $27.0M, 19% Licenses, fees and permits $11.9M, 8% Charges for services $8.2M, 6% Fines and forfeiture $0.5M, 1% Grants and contributions $3.4M 2% Investment income $0.9M, 1% Miscellaneous $6.0M, 4% Bond/loan proceeds $18.6M, 13% Changes in Fund Balances $32.4M, 23% TENTATIVE REVENUES/SOURCES - $143.8M BUDGET BRIEFING FY2020 EXPENDITURE/USES Personnel and benefits $35.3M, 24% Contracted services $15.6M, 11% Operating supplies & equipment $21.5M, 15% Capital outlay $58.5M, 41% Debt service $12.9M, 9% TENTATIVE EXPENDITURES/USES - $143.8M FY2020 GENERAL FUND RESERVES BUDGET BRIEFING Structurally balanced budget Makes significant one-time investments in key projects $28.4M estimated ending reserve ¹ Provide adequate cash balances Capacity for major projects Maintain bond ratings Internal Service Funds 22.8 25.0 29.6 32.4 28.4 $0 $5 $10 $15 $20 $25 $30 $35 $40 2015-16 2016-17 2017-18 2018-19 Estimated 2019-2020 BudgetedMillions General Fund Reserve Balances Fund Balance 25% Coverage Note 1 – Estimated ending balance calculations excludes $5.0M in contingency FY2020 EMPLOYEE INVESTMENTS & INITIATIVES BUDGET BRIEFING New positions Compensation adjustment Employee Rewards & Recognition program New Year’s Eve holiday Parental leave Tuition reimbursement BUDGET BRIEFING FY2020 POSITION SUMMARY Working Position Title FTE Department Funding Source Code Enforcement Officer I 1.00 Community & Neighborhood Services General Fund Business Process Supervisor 1.00 Parks & Recreation General Fund Park Maintenance Supervisor 1.00 Parks & Recreation General Fund Police Officer 3.00 Police General Fund Equipment Operator 1.00 Public Works General Fund Facilities Technician II 1.00 Public Works General Fund Traffic Technician I 1.00 Public Works General Fund Water Billing Specialist 0.40 Water Water Fund Water Quality Technician 2.00 Water Water Fund Total FTE Changes 11.40 Authorized positions – 375.35 FY2019 Adopted: 363.95 FTE increases were in areas determined to be important to the mission of local government FY2020 COMPENSATION BUDGET BRIEFING Team performance based adjustments Up to 3.5% pay adjustment applied to base pay for employees that demonstrate performance and behavior that is aligned with Town’s Strategic Plan, policies, directives and cultural values Lump sum payment for eligible employees at the top of their pay range Salary schedule adjustments Each paygrade within the adopted salary schedule to increase 3% Increase to minimum of paygrade regardless of performance Employees eligible for the Team performance pay adjustment will receive no more than 3.5% within newly adjusted paygrade IN SUMMARY BUDGET BRIEFING Established the overall expenditure limitation for FY2020 at $143.8M Expenditure authority may only be reallocated or reduced Budget reflects the careful allocation of available resources Continues investment in key areas of current employees, resources & tools, and strategic positions Public hearing for final budget adoption on June 18, 2019 BUDGET BRIEFING QUESTIONS & DISCUSSION