HomeMy WebLinkAboutCouncil Presentation 6-15-2021: FY2022 Final Budget PresentationFiscal Year 2021-2022
Final Budget
6/15/2021
Yiannis Kalaitzidis, Finance Director
FY2022 Budget Timeline
January –Presented preliminary revenue outlook for FY2022
and solicited Council and public feedback
February –Presented initial 5 year Capital Improvement Plan
for consideration and feedback
April –Presented Manager’s recommended comprehensive
budget for consideration and additional feedback
May –Presented and adopted Tentative Budget during public
hearing which set overall expenditure limitation for Town
June –Adoption of Final Budget for Fiscal Year 2021-2022 2
FY 2022 Budget
Expenditure Summary
3
2021
Adopted
2022
Final $ Change % Change
General Fund $ 54,116,449 $ 55,152,321 $ 1,035,872 1.90%
Special Revenue Funds 15,181,378 10,568,485 (4,612,893)-30.40%
Capital Projects Funds 28,893,943 36,518,156 7,624,213 26.40%
Debt Service Funds 5,917,415 5,908,375 (9,040)-0.20%
Enterprise Funds 29,786,160 32,664,211 2,878,051 9.70%
Internal Service Funds 4,711,332 5,067,470 356,138 7.60%
Primary entity 138,606,677 145,879,018 7,272,341 5.20%
Component Units
Special Districts 10,652,588 13,036,512 2,383,924 22.40%
Total $ 149,259,265 $ 158,915,530 $ 9,656,265 6.50%
Fiscal year 2021-2022 Summary
4
Sales Tax, $39.9M, 31%Intergovernmental,
$40.9M, 32%
Licenses,
Permits &
Fees,
$16.2M,
13%
Charges for
Services,
$11.0M, 9%
Other,
$12.1M,
9%
Bonds/loan,
$7.7M, 6%
Where the Money Comes From
$127.8 Million
Operating, $79.7M,
50%
Capital Outlay, $66.3M
42%
Debt Service, $12.9M,
8%
Expenditures by Category
$158.9 Million
Summary
Overall expenditure limitation for FY2022 established at
$158.9 million
Budgetary control at department level for General Fund
and Fund level for all other Funds
Reflects the careful allocation of available resources
Invests in key areas
5
DISCUSSION
6
Manager’s Recommended Budget
Fiscal year 2021-2022 Overview
7
Operating, $79.1M,
53%
Capital Outlay, $56.4M
38%
Debt Service, $12.9M,
9%
Expenditures by Category
$148.4 Million
Sales Tax, $39.9M, 31%Intergovernmental,
$40.8M, 32%
Licenses,
Permits &
Fees,
$16.2M,
13%
Charges for
Services,
$11.0M, 9%
Other,
$11.7M,
9%
Bonds/loan,
$7.7M, 6%
Revenues
$127.3 Million
General Fund Reserves
8
$8.2 $8.9 $9.3 $10.3 $11.0 $11.2 $11.8 $11.2 $13.6
$10.2 $9.7 $7.0 $7.9 $8.6
$14.6
$24.3
$35.9 $28.5
$-
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
$45.0
$50.0
F/Y 2014 F/Y 2015 F/Y 2016 F/Y 2017 F/Y 2018 F/Y 2019 F/Y 2020 F/Y 2021*F/Y 2022*MILLIONSTarget Reserve Additional Reserves
*Estimated based on projections