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8/20/2019 Finance Budget Retreat January 30 2016 Final
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Council Retreat – Mid-Year
Financial Review and FY17 Budget
Planning
January 30, 2016
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8/20/2019 Finance Budget Retreat January 30 2016 Final
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Agenda
Budget Process and Calendar
Mid-Year Review
Revenue Forecast
Key Expenditure Changes
Strategies to Close the Gap
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Budget Process and Calendar
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Budget Process and Calendar
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• Budget Developed, Proposedand Adopted
• January – June of each year
Creation
• Adopted Budget executed byManager & staff
• Adapted for changing needswith recommendations toCouncil for Amendments, if
necessary• July – June of each year
Implementation• Audit and preparation of CAFR
to present actual results
• July – December of each year
Reporting
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Budget Process and Calendar
October: FY17 Budget instructions to Departments & Outside Agencies
December 31: Departmental Requests Due
January 31: Requests Compiled and Formatted by Finance and Submitted toManager
Feb. & March: Manager and Management Team Develop RecommendedBudget
April: Manager Submits Recommended FY17 Budget to Council
April & May: Budget Work Sessions
May 10: Public Hearing on Proposed FY17 Budget
June 14: Council Adopts FY17 Budget
July 1: FY17 Begins
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Mid-Year Review: GF Revenues
FY16 Revenue Total (as amended) $13,663,989
Collected as of 12/31/15 – 34.5% $4,689,918
42.0% FY15 collected as of 12/31/14 $4,168,133 (of total $9,918,646, as amended)
Key FY15 & FY16 Mid-Year Comparisons FY15/FY16 FY15 / FY16
Sales Tax 40% / 38% $210,455/$228,428 (4 months)
Utility Tax 42% / 38% $197,967/$189,575 (5 months)
Meals Tax 46% / 44% $921,235/$957,038 (5 months)
Cigarette Tax 48% / 45% $90,324/$85,311
Lodging Tax 49% / 54% $90,695/$102,813 (5 months)
Permits & Fees 67% / 79% $97,905/$108,763
Court Fines 37% / 31% $70,719/$58,390
WARF Charges 39% / 38% $557,627/$543,711
State + Federal Aid 62% / 53% $1,758,617/$1,753,922
BPOL, Bank Stock, Vehicle Licenses collected in Q4
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Mid-Year Review: GF Expenditures
FY16 Exp. Total (as amended) $13,663,989
Spent as of 12/31/15 – 45.3% $6,192,52944.5% FY15 spent as of 12/31/14
No Significant FY16 actual/budget expenditure
variancesNo use of Fund Balance appropriation to date
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8/20/2019 Finance Budget Retreat January 30 2016 Final
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Mid-Year Review: W&S Fund Expenses
FY16 Exp. Total (as amended) $5,519,140
Spent as of 12/31/15 – 39.2% $2,164,018
43.6% FY15 spent as of 12/31/14 $2,164,767 ($4,960,517)
No Significant FY16 actual/budget expense variances
No use of Reserves/Retained Earnings appropriation to date
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GF Revenue Forecast: RE & PP Tax
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $539,313 $605,047 $678,228 $683,100 $687,972 $692,844 $697,716 $702,588
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000Property Taxes
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GF Revenue Forecast: Sales Tax
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $530,836 $561,074 $595,653 $625,000 $640,625 $656,641 $673,057 $673,057
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000Sales Tax
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GF Revenue Forecast: Meals Tax
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $2,152,237 $2,191,572 $2,265,639 $2,290,000 $2,346,701 $2,395,437 $2,444,172 $2,492,908
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000Meals Tax
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8/20/2019 Finance Budget Retreat January 30 2016 Final
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GF Revenue Forecast: BPOL
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $1,366,360 $1,914,525 $1,656,923 $1,700,000 $1,742,500 $1,786,063 $1,785,000 $1,800,000
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
BPOL
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GF Revenue Forecast: Permits & Fees
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $182,847 $128,220 $203,476 $217,526 $227,841 $238,093 $244,046 $246,486
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000Permits & Fees
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8/20/2019 Finance Budget Retreat January 30 2016 Final
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W&S Fund Revenue Forecast:
Consumption Charges
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $3,570,606 $3,608,609 $3,527,588 $3,848,595 $5,073,691 $5,225,902 $5,382,679 $5,544,159
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
Water & Sewer Charges
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W&S Fund Revenue Forecast:
Availability Fees
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FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Series1 $333,225 $123,913 $175,350 $355,250 $276,313 $288,064 $299,815 $311,566
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
W&S Availability Fees
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Key Expenditure Changes: GF* Cost of Merit-Based Pay Increases
General Fund = $159,3599
Cost of VRS Increases $0
Cost of Health Insurance Increases
General Fund = 38,568
Requested Additional Positions: 242,167
Police (1 officer, sal. & benefits) $67,604
Recreation (3 positions, sal. & benefits) $174,563
Warrenton Volunteer Fire Department requested increase 150,000
Comprehensive Plan 220,000
Public Works Equipment (513,500)
Eliminate Appropriation of Fund Balance to Revenue 713,430
Net Key GF Expenditure Increases: $1,016,625
* Includes internal service funds (IT and Motor Pool)19
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Key Expense Changes: W&S Fund
Cost of Merit-Based Pay Increases
Utility Fund = $51,839
Cost of VRS Increases 0
Cost of Health Insurance Increases
Utility Fund = 12,312
Eliminate Appropriation of Reserves to Revenue 952,474
Requested Operating Increases: 0
Net Key Utility Fund Expense Increases: $1,016,625
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Strategies for Closing the Gap
Possible Sources for Increased Revenue – Rate Increases
RE Tax: 1¢ = $147,000
PP Tax: $1.00/$100 valuation = $450,000
Utility Consumption Tax = $495,000
Electric Monthly Max: $3/$20 (Resid./Bus.)
Gas Monthly Max: $3/$20 (Resid./Bus.)
Vehicle Licenses (“Stickers”): = $101,000
Cars - $15; Motorcycles - $10
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Strategies for Closing the Gap
More Possible Options for Tax Rate Increases
Meals Tax: 4% = $2,170,000 Each ¼% = $135,000
Cigarette Tax: 15¢/pack = $190,000
Fauquier Co. = $0
Lodging Tax: 4% = $190,000
Each 1% = $47,500
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Strategies for Closing the Gap
Options for Increased Revenue – Rate Increases
WARF Charges = $1,405,538
Memberships & Passes = $800,000
5% Increase = $40,000
Lane Rentals = $145,000
5% Increase = $7,250
Lessons, Classes = $320,000
5% Increase = $16,000
Conservatively, estimate + $50,000 over FY16 actual
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Strategies for Closing the Gap
Planned Water & Sewer Rate Increase – As Part II of
Phased Increase
Category Average Increase of 20% = $1,225,096Adopt in Conjunction with FY17 Budget
Effective July 1, 2016
Eliminates appropriation of reserves ($952,474)
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Strategies for Closing the Gap
No new positions
Prioritize existing services for reductions
Grow our Tax Base!
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Final slide – Enjoy the rest of your
Saturday!