{ 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

TRFMA’s FY14 Year End Financial Position { Bottom Line Forecast

General Fund FY14 Ending Fund Balance • Budgeted $ 6,052,300 • Projected $11,971,414 • Difference due to: o Transfers Out to Capital Projects Fund o Fewer professional services used o Higher than expected revenues

Capital Projects Fund FY14 Ending Fund Balance • Budgeted $ 73,900 • Projected $156,877 • Difference - much rolled to FY15 o Transfers In from General Fund o NTD construction o Demolition project

TRFMA’s Financial Outlook for FY15 { Budget Preview

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

The Bottom Line Capital Projects Fund General Fund 7-1-2014 $ 156,877 7-1-2014 $11,971,414 Revenue + 10,000 Revenue + 5,695,900 Expenses - 5,835,000 Expenses - 5,068,050 Transfer In + 5,700,000 Transfer Out - 5,700,000 6-30-2015 $ 31,877 6-30-2015 $ 6,899,264

Sales Tax Distributions  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

Interest Earnings  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

Payroll and Benefits  8 employees  Promotion/reclass included  Within Washoe County estimates  No changes for COLAs or PERS  No change to health insurance premiums

Professional Services  Engineering $1,730,747 o KimleyHorn, RVA, HDR, Corps  Flood Funding Study and Rate Hearing $454,199 o FCS, Public Outreach, Recreation and Restoration Analysis, Rate Hearing Prep  Legal and Financial $233,000  Flood Warning and Environmental $75,000  Unallocated $250,000

Capital Projects  Virginia Street Bridge Construction $3,000,000  North Truckee Drain Construction $2,375,000  Demolitions $ 450,000

Other Expenditures  Not much change from FY14 budget  May be adjusted more in next month

Cash Flow through FY19  Cash flow for all projects and activities is positive.  Presentation in April.

In Summary  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

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