Town of Warsaw Budget Presentation Fiscal Year 2019 Joseph N. - - PowerPoint PPT Presentation

Town of Warsaw

Budget Presentation Fiscal Year 2019

Joseph N. Quesenberry Town Manager

What does the Town fund?

• Police
• Wastewater
• Waste Collection
• Water
• Economic Development
• Tourism
• Parks and Recreation
• Revitalization Efforts
• Charities and Organizations

Core Objectives for Continued Strength

• Continue to pursue grant funding
• pportunities
• Maintenance Mode – Decrease

Projects and Expenditures

• Continue Incentives for Economic

Growth

• Continue our Reputation for

Strong Fiscal Health

Strong Financial Standing Grant Funding Lower Capital Expenditure s Economic Growth

How do we achieve these

• bjectives?
• Leave cash reserves solid and sound.
• Pursue grant funding for any projects we

wish to pursue.

• Increase our tax base through incentives

and economic development.

Our Budget Process

Capital Improvement Plan

• Serves as an outline for large-scale

capital expenditures.

• Department Heads submit requests and

answer questions asked by the Planning Commission and Council.

• This serves as a PLAN. No expenditures

are guaranteed to occur if we are unable to pay for them. General Operating Budget

• This serves as our operating budget for

next fiscal year (July 1 – June 30).

• Budget must be balanced and needs to

include contributions to capital reserves.

• Two funds are featured in the budget:

General Funds (Tax Revenue) and Enterprise Funds (Fees from Services).

Your Budget at a Glance

• Reduced nearly all department budgets through careful

planning, staff reductions and reorganizations, all while addressing exponential increases in insurance rates.

• Increased items that improve overall quality of life: i.e., parks,

economic development, beautification efforts, etc.

• Nearly all revenues are projected to be higher than estimates.
• All major projects are funded and all loan obligations are

funded.

• Estimating apr. $20,000 - $30,000 will be contributed to

undesignated reserves with this budget.

• Proposed salary increase of 2.5% for all full-time Town Staff.

Anticipated Revenue Trends

Personal Property Real Estate Meals Tax Sales Tax $0.00 $50,000.00 $100,000.00 $150,000.00 $200,000.00 $250,000.00 $300,000.00 $46,606 $134,779 $278,990 $44,937 $63,982.55 $194,744.91 $265,856.08 $63,913.99 $58,000 $186,000 $260,000 $60,000 FY 17 Final FY 18 Estimate FY 19 Budgeted

Budget Breakdown by Department

• General Operations are all

Departments except Water and

• Wastewater. They are funded through

the General Fund via tax revenue and excise taxes (Real Estate, Personal Property, Meals, etc.).

Department Department Budget % of Total Operating Budget Administration $415,006 43% Police $320,180 33.5% Public Service $219,608 23% Contributions $45,850 Debt Service $81,653 Capital Outlays $1,986,757 Total Budget $3,069,054

Enterprise Funds – Water and Wastewater

Wastewater Operating Budget $388,455 Capital Expense $67,345 Debt Service $249,200 Total $705,000 Water Operating Budget $249,020 Capital Expense $32,000 Debt Service $0 Total $281,020 Enterprise Funds are collected through recurring monthly payments by Town customers. These include your water, sewer and garbage bills.

FY 2018 Budget VS. Proposed FY 2019 Budget

Department 2018 2019 Over/(Under) Previous Year Administration $420,475 $415,006 ($5,469) 1.3% Decrease Police $332,510 $320,180 ($12,330) 3.7% Decrease Public Service $226,360 $219,608 ($6,752) 3.0% Decrease Water $352,000 $281,020 ($70,980) 20.2% Decrease Wastewater $246,570 $249,200 $2,630 1.06% Increase

Warsaw’s Cash Reserves Remain Strong

• Common practice within larger Virginia localities is to maintain a

cash reserve balance that equals 20% of annual operating expenses.

• Smaller towns, with smaller budgets and large expenditures, should

maintain a minimum reserve balance of 50% of operating expenses.

• Warsaw’s designated and undesignated reserves amount to the

following: $1,815,165.57 – General Fund $300,121.77 – Water Fund $467,954.38 – Wastewater Fund $2,583,241.72 – TOTAL *Note – This figure does not include cash in the bank.

Capital Improvement Plan

Items to be funded in this Fiscal Year include the following:

• $126,000 – New Garbage Truck (Applied for USDA Rural Development

Assistance)

• $625,000 – Gannon Project (Combination of grants, loans, and a designated

$.03/100 tax increase from the previous FY)

• $40,000 – New F250 Work Truck to Replace a 2004 F150. Tow-Behind Boom

Attachment is Included.

• $69,000 – Mandatory Police Equipment Upgrade (Applied for USDA Rural

Development Assistance)

Strawberry Hill Tract

The chart, pictured left, was compiled by our

• consultant. These are

anticipated gross figures, with net numbers coming in approximately 10% lower.

Questions? Comments?

Moving Forward

Budget Presentation and Discussion Public Hearing and Final Discussion Adoption