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Forecast for the close of FY14 Operations Assumptions and Projections for FY15 Cash Flow through FY19
{ FY2015 Budget Development For Discussion Forecast for the close - - PowerPoint PPT Presentation
{ FY2015 Budget Development For Discussion Forecast for the close - - PowerPoint PPT Presentation
Truckee River Flood Management Authority { FY2015 Budget Development For Discussion Forecast for the close of FY14 Operations Assumptions and Projections for FY15 Cash Flow through FY19 TRFMAs FY14 Year End Financial Position {
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Bottom Line Forecast
TRFMA’s FY14 Year End Financial Position
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FY14 Ending Fund Balance
- Budgeted $ 6,052,300
- Projected $11,971,414
- Difference due to:
- Transfers Out to Capital Projects Fund
- Fewer professional services used
- Higher than expected revenues
General Fund
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FY14 Ending Fund Balance
- Budgeted $ 73,900
- Projected $156,877
- Difference - much rolled to FY15
- Transfers In from General Fund
- NTD construction
- Demolition project
Capital Projects Fund
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Budget Preview
TRFMA’s Financial Outlook for FY15
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Budget Calendar
April 11 – Tentative Budget to Board April 15 – File Tentative Budget with State May 6 – Publish notice of public hearing May 15 – Public Hearing June 1 – File Final Budget with State
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The Bottom Line
General Fund 7-1-2014 $11,971,414 Revenue + 5,695,900 Expenses - 5,068,050 Transfer Out - 5,700,000 6-30-2015 $ 6,899,264 Capital Projects Fund 7-1-2014 $ 156,877 Revenue + 10,000 Expenses - 5,835,000 Transfer In + 5,700,000 6-30-2015 $ 31,877
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Budget FY15 $7,964,300 Budget is up $379,200 from estimated FY14 Forecasting growth at 5% Washoe County used 4.7% in January forecast
Sales Tax Distributions
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Expecting to utilize a significant portion of
available cash in FY15
Using same interest factor as in FY14 Consistent with Washoe County -
forecasting flat growth
Interest Earnings
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Payroll and Benefits
8 employees Promotion/reclass included Within Washoe County estimates No changes for COLAs or PERS No change to health insurance premiums
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Professional Services
Engineering
$1,730,747
- KimleyHorn, RVA, HDR, Corps
Flood Funding Study and Rate Hearing $454,199
- FCS, Public Outreach, Recreation and
Restoration Analysis, Rate Hearing Prep
Legal and Financial
$233,000
Flood Warning and Environmental
$75,000
Unallocated
$250,000
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Virginia Street Bridge Construction
$3,000,000
North Truckee Drain Construction
$2,375,000
Demolitions
$ 450,000
Capital Projects
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Not much change from FY14 budget May be adjusted more in next month
Other Expenditures
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Cash flow for all projects and activities is
positive.
Presentation in April.
Cash Flow through FY19
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FY14 ending fund balance > budget FY15 sales tax distributions > FY14 FY15 capital projects – VSB, NTD, demos FY15 rate development continues in earnest FY15 total ending fund balances $6,931,100 5-Year Cash Flow projections are positive
In Summary
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