City Council August 30, 2011 Finance & Budget Presentation

Budget DiscussionAugust 30, 2011

Calendar

• General Fund Update• Water & Wastewater• Development Corporation• Budget Ordinance w/ Public Hearing• Property Tax Public Hearing

FY 2011-2012 Budget

General Fund Update

Remaining Funds 1,859,749Franchise fees & Landfill rate 717,970

Property Tax Rate Decrease 1,055,000Salary Increase (incl. ben.) 940,554Capital Expenditures 500,000Available for Capital Expenditures 82,165

Remaining Funds -0-

FY 2011-2012 Budget

Salary Increases• Under $50k, 5% Exceeds, 3.5% Meets• Over $50k, 4% Exceeds, 2% Meets

FY 2011-2012 Budget

General FundFY

2010-2011FY

2011-2012Increase/

(Decrease)

Revenue 53,868,465 56,286,577 2,418,112

Expenditures 53,868,465 56,286,577 2,418,112

Revenue Over/(Under) Expenditures 0 0

FY 2011-2012 Budget

Water FundFY

2010-2011FY

2011-2012Increase/

(Decrease)

Revenue 15,701,866 23,567,586 7,865,720

Expenditures 15,701,866 23,567,586 7,865,720

Revenue Over/(Under) Expenditures 0 0

FY 2011-2012 Budget

Wastewater FundFY

2010-2011FY

2011-2012Increase/

(Decrease)

Revenue 10,134,600 10,165,600 31,000

Expenditures 10,132,946 10,131,364 (1,582)

Revenue Over/(Under) Expenditures 1,654 34,236

FY 2011-2012 Budget

Development Corp.FY

2010-2011FY

2011-2012Increase/

(Decrease)

Revenue 6,186,494 6,986,881 800,387

Expenditures 6,186,494 6,986,881 800,387

Revenue Over/(Under) Expenditures 0 0

FY 2011-2012 BudgetBudget Ordinance

• Approves and adopts the budget for Fiscal Year beginning October 1, 2011 and ending September 30, 2012 (Exhibit A)

• Adopts the employee compensation schedules (Exhibit B)

• Ratifies the 2010-2011 appropriations and amended budget ordinance

• Provides authority to make certain budget adjustments• Provides authority to City Manager to apply for grants

and execute any documents related to the grant thereafter (Exhibit C)

FY 2011-2012 Budget

This budget will raise less total property taxes than last year’s budget by $163,572 (-0.60%), and of that amount $530,877* is tax revenue to be raised from new property added to the tax roll this year.

*Note that $694,449 is a tax revenue decrease due to a reduction in the ad valorem property tax rate.

FY 2011-2012 Budget

Motion to approve and adopt the FY 2011-2012 budget and introduce the budget ordinance noting that

this budget will raise less total property taxes than last year’s budget by $163,572 (-0.60%), and of that amount $530,877* is tax revenue to be raised from new property added to the tax roll this year.

Public Hearing• Proposed Budget

Public Hearing• Tax Rate• $0.7860/$100

Calendar

Budget DiscussionAugust 30, 2011