City Managers Proposed Budget David Gaines Finance Director - - PowerPoint PPT Presentation

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City Managers Proposed Budget David Gaines Finance Director August 13, 2019 August 13, 2019 - ID19-1842 Objective Budget Calendar Follow-Up Items General Fund Forecast Supplemental Packages Next Steps August 13, 2019 -

SLIDE 1

City Manager’s Proposed Budget

David Gaines Finance Director August 13, 2019

August 13, 2019 - ID19-1842

SLIDE 2

Objective

Budget Calendar
Follow-Up Items
General Fund Forecast
Supplemental Packages
Next Steps

August 13, 2019 - ID19-1842

SLIDE 3

Key Budget Dates

✓ June 18, 2019

General Fund Five Year Forecast Presentation, Departmental Presentations

✓ June 25, 2019

Departmental Presentations

✓ July 16, 2019

2nd General Fund Five Year Forecast Discussion, Departmental Presentations

✓ July 23, 2019

Departmental Presentations

✓ July 24, 2019

Final Certified Value Received

✓ August 1, 2019

1st Budget Workshop – City Manager’s Proposed Budget Submitted to Council

August 13, 2019

2nd Budget Workshop

August 20, 2019

1st Public Hearing on Tax Rate

September 10, 2019

2nd Public Hearing on Tax Rate & Public Hearing on Budget

September 17, 2019

Council Adopts Budget

August 13, 2019 - ID19-1842

SLIDE 4

General Fund Forecast

August 13, 2019 - ID19-1842

FY 2018-19 Budget FY 2018-19 Estimate FY 2019-20 Proposed FY 2020-21 Projected FY 2021-2022 Projected FY 2022-23 Projected FY 2023-2024 Projected Beginning Fund Balance 30,317,385 $ 30,317,385 $ 30,269,101 $ 30,273,319 $ 30,160,606 $ 29,906,987 $ 30,231,526 $

Property Tax

46,259,982 $ 46,259,982 $ 50,393,457 $ 52,119,958 $ 53,743,336 $ 55,367,248 $ 56,991,713 $

Sales Tax

41,425,582 37,953,567 39,281,942 40,656,810 42,079,798 43,552,591 45,076,932

Other Revenues

40,015,741 41,492,342 44,977,353 45,266,504 46,511,163 47,993,460 49,637,937

Total Revenue

127,701,305 $ 125,705,891 $ 134,652,752 $ 138,043,272 $ 142,334,296 $ 146,913,299 $ 151,706,582 $

Base Expenditures

129,184,436 $ 125,302,274 $ 130,215,005 $ 137,355,984 $ 142,587,915 $ 146,588,760 $ 150,954,804 $

New Recurring Expenses

3,919,773 $ 800,000 $

New One-Time Expenses

451,901 $ 513,757 $

Total Expenditures

129,184,436 $ 125,754,175 $ 134,648,535 $ 138,155,984 $ 142,587,915 $ 146,588,760 $ 150,954,804 $ Ending Fund Balance 28,834,254 $ 30,269,101 $ 30,273,319 $ 30,160,606 $ 29,906,987 $ 30,231,526 $ 30,983,304 $ Change in Fund Balance (1,483,131) $ (48,284) $ 4,217 $ (112,712) $ (253,619) $ 324,539 $ 751,778 $ Fund Balance as % of Total Expenditures 22.32% 24.07% 22.48% 21.83% 20.97% 20.62% 20.52%

SLIDE 5

Supplemental Package Summary General Fund

Supplemental packages have been grouped into tiers ranging from 1-5.
$1,082,434 one-time Cost, $5,479,588 on-going cost
Tiers 1-3 included in Proposed Budget

Tier 1

Tier 2 Tier 3 Tier 4 Tier 5

Funding may change based on recreation and development service fee studies

Increase Above Proposed Rate One-Time Cost Recurring Cost Tier Total Total Cost Tier 1 $.00 $80,000 $1,298,100 $1,378,100 $1,378,100 Tier 2 $.00 $53,684 $1,124,034 $1,177,718 $2,555,818 Tier 3 $.00 $305,073 $1,250,425 $1,555,498 $4,111,316 Tier 4 $.01 $461,027 $759,539 $1,220,566 $5,331,882 Tier 5 $.02 $182,650 $1,047,490 $1,230,140 $6,562,022

August 13, 2019 - ID19-1842

SLIDE 6

Next Steps

Public Hearings – August 20th and September 10th
Development Services and Parks & Recreation Cost of Service Studies –

August 20th

Budget Discussions – All work sessions through September 17th
Budget Adoption – September 17th

August 13, 2019 - ID19-1842

SLIDE 7

August 13, 2019 - ID19-1842