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CITY OF HOMEWOOD STATE OF THE CITY ADDRESS SCOTT MCBRAYER, MAYOR - - PowerPoint PPT Presentation
CITY OF HOMEWOOD STATE OF THE CITY ADDRESS SCOTT MCBRAYER, MAYOR - - PowerPoint PPT Presentation
CITY OF HOMEWOOD STATE OF THE CITY ADDRESS SCOTT MCBRAYER, MAYOR CHIEF JOHN A. BRESNAN FINAL CALL JANUARY 10, 2020 The City began the year with an approved budget that had revenues equaling expenditures; therefore, no planned use of
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The City began the year with an approved budget that had revenues equaling expenditures; therefore, no planned use of carryover fund balance.
* Actual preliminary pre-audited operating results show the City will complete the 2019 fiscal year with a surplus of approximately $1.2 million
This was accomplished after funding $370,000 in employee bonuses and transferring $1,000,000 to the Capital Projects Fund Our auditors are currently conducting our financial statement audit and final audit results should be available soon. The amount of 1 cent sales tax transferred to the Debt Service Fund during the fiscal year was $8.9 million.
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General Fund Checking (plus Payroll)
$ 5,091,830
General Public Funds Invest – Bryant Bank
$ 192,133
General Public Funds Invest- Iberia Bank
$ 9,180,060
Reserve for Economic Uncert Fund
$ 11,376,931
Grants Funds
$ 42,053
7 Cents Gas Tax Fund
$ 746,786
4 & 5 Cents Gas Tax Fund
$ 490,336
Debt Service Fund
$ 13,201,940
Capital Projects
$ 3,569,853
Environmental Escrow
$ 83,285
Insurance Fund
$ 9,403
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E911 $ 1,519,497 Corrections - Jail $ 262,433 Corrections - Court $ 787,870 Sales Tax Fund $ 3,087,320 Court Special $ 154,392 Inspection Tech Fund $ 89,773 GOW 16 Construction Fund-Raymond James $ 28,944,942 **** GOW 16 Public Safety-Iberia Bank
$ 1,188,775
GOW 16 WHWD Park/Pool-Iberia Bank
$ 836,004
GOW 16 HWD BOE- Iberia Bank
$ 106,835
Judicial Administration Fund
$ 470,945
Control Account
$ 3,139,636
TOTAL $ 84,573,032
**** This account holds 2016 bond proceeds to be used for West Homewood Park/Pool, new Public Safety Center, and the BOE school infrastructure improvements
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REVIEW OF PAST YEARS
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ANNUAL FISCAL YEAR-END SURPLUS ADDED TO FUND BALANCE OF THE GENERAL FUND 2010 - $351,232 2011 - $464,677 2012 - $2,070,037 2013 - $279,559 2014 - $410,377 2015 - $285,574 AFTER paying $375K in bonuses and transferring $1,000,000 to Capital Projects Fund 2016 - $401,657 AFTER paying $375K in bonuses and transferring $700K to the Capital Projects Fund 2017 - $410,247 AFTER paying $323K in bonuses and transferring $500K to the Capital Projects Fund 2018- $709,988 AFTER paying $325K in bonuses, transferring $1,000,000 to the Capital Projects Fund and $1,000,000 to Debt Service Fund. 2019- est $1,225,000 AFTER paying $370,000 in bonuses and transferring $1,000,000 to Capital Projects Fund (PRE-AUDITED)
Total
$6,608,348 - 10 year Average = $660,834
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2019-2020 Budget Overview
TOTAL GENERAL FUND BUDGET $ 54,405,145
Capital Fund Budgeted Revenues $ 2,250,391 Transfer from Debt Service/Grants Fund $ 5,399,892 NOTE 1 Budgeted Use of Fund Balance $ 3,193,301 NOTE 2 TOTAL CAPITAL BUDGET $ 10,843,584
Above Budget Numbers are the Original Budget numbers approved by Council effective 10/1/19 NOTE 1: $3.2 Million transferred from Debt Service to Capital Projects for fire engine and vehicle purchases. $2.1 Million transferred from Grants Fund for Greenway, 18th Street, Oxmoor and Central Avenue Capital Projects. NOTE 2: The use of fund balance will only be required if all capital projects are completed in this fiscal year.
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RECENTLY COMPLETED CAPITAL PROJECTS HOMEWOOD ATHLETIC COMPLEX THE POOL AT PATRIOT PARK
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RECENTLY COMPLETED CAPITAL PROJECTS ROSEDALE SPRING PARK
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Ongoing Capital Projects
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Lakeshore/I65 Diamond Interchange
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New Public Safety Facility
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Samford Pocket Park
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Oxmoor Road Improvements – Turkey Foot
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Library Expansion
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Continued New Sidewalk Construction and ADA Compliance of Existing Sidewalks
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Greenway II Construction
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18th Street Renovation
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Continued Paving
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Continued Construction of Public Safety Center/Court and BOE School Projects
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Mayor Budgeted in FY 19-20 and Council approved a 2.5% COLA
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Redevelopment Plan for 18th Street
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Renovation of Greensprings Highway
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Library Expansion
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