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Home My WebLink About06-25-18 City Commission Packet Materials - A4. Resolution 4900, FY19 Funds Appropriation for Budget Units and Operating Revenue - SUPPLEMENTAL MATERIALS 6/25/2018 MT Resolution No. 49oo Appropriating Funds for Fiscal Year Ending June 30, 2019 (FY19) Monday,June 2S,2018 Strategic Plan Priorities -.Community Outreach: (s.i a,b) (1.2c.) (1.3 a-f.) (3.4) z.Affordable Housing: (4.5 b) 3. Planning and Land Use Initiatives: (4.4 a) (4.1.a) (4.2 d) 4.Annexation Analysis and Study: (4.3 e, initial steps) 5. Parks Maintenance District: (4.3 a,initial steps) 6. Partnerships for Education and Learning: (5.2 a)(5.3 a) 7.Law&Justice Center Project: (3.1.a)(3.10 1 6/25/2018 Other Strategic Plan Initiatives •An Engaged Community: (1.20(1.4) •An Innovative Economy: (2.1) •A Safe,Welcoming Community: (3.1 e)(3.1 f) •A Well Planned City: (4.1 c)(4.20(4.3 b) •A Sustainable Environment:(6.3 a)(6.5 a) •A High Performance Organization: (7.1 a)(7.2 b,d)(7.3 a,c)(7.4 a) Budget Work-Sessions ✓ May 14- City Manager's Recommended Budget presentation ✓ May 21-Special Revenue Funds ✓ June 4— Enterprise Funds (postponed), with BID/TBID/TIF on consent agenda ✓ June 11-General Fund/Community Development Fund ✓ June 18—Enterprise Funds, with General Budget Discussion • June 25 - Final Budget Adoption - Resolution 4900 2 6/25/2018 Resolution No. 4900 City Manager's Recommended Budget + Changes for Work Plans&Budgets of: Tax Increment Districts Business Improvement District Tourism Business Improvement District Resolution No. 4900 Any other changes to the Budget should be made by amendment to a vote adopting Resolution No. 4900 Resolution No. 4900 Financial Summary Final Budget Fiscal Year 2018-2019 General Fund Special Debt Service Construction Enterprise Internal permanent All Funds Revenue Pro'ects Service Projected Beginning Fund Balance/Working Capital $ 7,486,631 $19,451,235 $ 2,311,98S $9,072,61 $18,235,66E $ 1,062,137$ 1,307,83E $58,928,10 Estimated Revenues 31,855,54 26,349,185 2,406,02 284,011 38,482,212 9,467,995 88,50C 107,933,46 Less Appropriations 34,013,28 32,526,665 2,398,52 1,019,011 40,108,00 8,461,831 118,527,32 ncrease/(Decrease)in Fund Balance/Working a ital (2,157,746 (6,177,480) 7,50 (735,000 (1,625,796) 6,164 88,50 (10,593,857 rojected Ending Fund Balance/Working a ital $ 5,328,881$13,273,751$2,319,491 $8 337 61 $16 609 87 $1068 30 $ 1,396,338 $48 334 25 3 6/25/2018 Recommendations from City Manager — General Fund Reductions General Deletions Jib &, Reduce Commission Room Remodel(reduced project scope) $(100,000) Finance-Delay purchase of Business Intelligence Software OneYearto investigate the $(33,000) use of a similar Microsoft product(sa,000 license costs) Police-Unmarked Vehicle,can be purchased out of FY18 $(15,000) Finance-Billing Clerk Furniture(move to Public Works Administration) $(7,000) Clerk-Commission Room Displacement equipment(not needed) $(5,000) Total Recommended Deletions to the General Fund $(16o,000) Recommendations from City Manager — General Fund Additions General Fund-Additions Ir HRDC Request for additional support $68i 000 Parks-New Maintenance Contracts to maintain parks $30,000 Municipal Court-Rocky Mountain Security(6 months) $6,000 Total Recommended Additions to the General Fund $104,000 If all of the deletions and the additions were made= increase the General Fund's ending balance by$56,000. Projected ending balance to$5,380,985,or 16.9%of General Fund Revenues. This projected ending balance would exceed the City's minimum balance level by $71,728. 4 6/25/2018 Recommendations from City Manager — Other Funds Increase budget amount for Stump Grinder(FORio)purchase $26,000 Water and Wastewater Fund Contracted Services forAnnexation Study areas—Water Fund $100,000 Contracted Services forAnnexation Study areas—Wastewater Fund $ioo,000 Total Recommended Additions forAnnexation Study areas $200,000 FYigTypical City Residential Property Annual Cost Adjustments- - -, FY 19 -EM FY19 Recommended % All FY18 ApproWved Recommended increase Change Street Assessment 198.02 207.92 9.90 5.0% Arterial Street Assessment 69.97 51.78 (18.19) -26.0% Tree(Forestry)Assessment 22.48 23.61 1.13 5.0% Property Taxes 711.10 722.49 11.39 1.6% Storm Water Services 70.92 70.92 - 0.0% Water Service 516.24 TBD TBD Sewer Services 606.72 TBD TBD Total Annual Increase Pending Water/Sewer rates $ 4.23 Monthly Increase $ 0.35 5