HomeMy WebLinkAboutPOWERPOINT PRESENTATION - MID-YEAR BUDGET FY 2014-15 (ITEM #12)Mid -Year Budget
FY 2014-1 5
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HISTORY
BUILDING OUR FUTURE
HONORING OUR PAST
FY 14/15 Mid -Year General Fund
Projected General Fund Revenue June 30, 2015
Mid -Year FY14/15 projected revenue is $51,104,244
0.8% or $425,844 greater than the amended budget:
$50,678,400
Major contributors to this change in revenues:
Increase Property Tax: $204,000
Increase in VLF Property Tax: $310,000
Increase Transient Occupancy Tax: $200,000
Increase Use of Property: $284,500
Decrease Sales Tax: ($452,200)
Decrease Building and Plan Check Revenues:
' ($318,500) 2
Sales Tax
N $25
C
O
$20
$15
,c
x
°7 $10 -
c�
$5
$0
Sales Tax
% Change
20.0%
15.0%
10.0%
-5.0% -5.0%
m
s
u
-15.0%
-20.0%
25.0'/
08-09 09-10 10-11 11-12 12/13 13-14 14-15
Projected
$19,802,70 $15,671,03 $18,342,28 $19,666,67 $21,276,99 $21,975,56 $21,868,20 Sales Tax
-3.1% -20.9% 17.0% 7.2% 8.2% 3.3% -0.5% 1 f % Change
3
Property Tax
N $9
c
O
$8
$7
$6
0m
$5
$4
$3
$2
$1
$0
08-09
09-10 10-11
11-12 12/13
13-14 14-15
Projected
m
FY 14/15 Mid -Year General Fund Cont.
Projected GF Expenditures:
Budget: $52,061,812
Projection: $51,761,756
Under Budget by $300,056
Recommended action includes supplemental
appropriation of $140,000 for expenditures
associated with hanger to support on-going
access and licensing activities.
Licensing activities generated $140,000 in
revenues so far this fiscal year.
5
FY 14/15 Mid -Year General Fund Cont.
Residual Property Taxes
AB X1 26 & AB 1484
Distribution of Redevelopment Property Tax Trust Fund (formerly tax
increment)
Pass-through payments
County administrative fees
ROPS enforceable obligations
Successor agency administrative cost allowance (3% of ROPS)
Any remaining amounts (residual) will be distributed to all taxing
entities
Projected FY 2014-15 revenue: $1,500,000
FY 14/15 Mid -Year General Fund Cont.
Total General Fund expenditures: $51,761,756
Non -Departmental,
Other
4%
Parks and Recreation
6%
Fire Services
13%
City Council
<1% _
Successor
Agency/ RDA
<1%
Police Services
44%
City Clerk
_1%
Itorney
L%
City Manager
3%
Human Resources
2%
Finance
20
Community
Development
6%
Public Works
18%
VA
FY 14/15 Mid -Year General Fund Cont.
Budget as of July 1, 2014:
Planned Use of Reserves : $835,200
Mid -Year Budget:
Planned use of Reserves: $657,512
Use of reserves decrease by $177,688
How did we get here:
Projected revenues were higher than the budget
Projected expenditures were lower than the budget
FY 14/15 Mid -Year General Fund Cont.
Projected Year End Fund Balance
Mid -Year budget: $17,555,067
35% of General Fund Expenditures (excludes one-
time transfers)
Necessary for cash-flow
Meets the City Council reserve policy of 20% General
Fund reserve
01
14/15 Mid -Year —All Funds
10
14/15 Projected
14/15 Projected Year -End
FUND
Expenditures (S)
Fund Balance (S)
GENERAL FUND
51,761,756
17,555,067
GENERAL FUND - EMERGENCY FUND
0
1,000,000
OBLG REIMB FRM SUCCESSOR AGNCY
0
1,892,478
BACKBONE FEE FUND
1,750,000
8,103,309
LAND HELD FOR RESALE
16,968,849
38,233,795
EQUIP. REPLACEMENT FUND
3,787,793
2,482,118
INFORMATION TECHNOLOGY FUND
1,733,065
429,955
TUSTIN SL
935,958
1,057,106
CAPITAL PROJECT FUND - CIP
31161,969
4,894,567
CABLE PEG FEES FUND
0
166,265
PARK DEVELOPMENT / LEGACY
948,000
7,303,830
AD 95-1 CONSTRUCTION
342,100
3,316,509
AIR QUALITY MANAGEMENT DISTRICT
100,000
52,355
ASSET FORFEITURE
245,000
278,982
CDBG
860,526
0
CFD 04-1 / 06-1 / 07-1 CONST.
16,122,284
12,476,519
GAS TAX
2,208,220
4,909,311
LIABILITY
890,301
50,130
MEASURE M / M2
7,260,051
3,436,985
SUPPL LAW ENFORCEMENT
98,500
95,392
SUCCESSOR AGENCY (TRUST FUND)
4,105,260
2,443,337
TUSTIN HOUSING AUTHORITY
308,700
730,198
TUSTIN LLD
735,700
0
UNEMPLOYMENT
35,000
34,820
WATER ENTERPRISE
17,654,264
17,117,421
WORKER'S COMPENSATION
1,546,800
1,482,633
TOTAL:
133,560,096
129,543,085
10
PARTIALLY
NON -RESTRICTED
RESTRICTED
RESTRICTED�F
10
FY 14/15 Mid -Year — Capital Projects
Amended
Category Budget
FY 14/15
Projected
Expenditure
FY 14/15
FY 15/16
Project
Carryovers
Flood Control Facilities $614851079
$310011126
$314831953
Park Facilities $110661000
$8711000
$1951000
Public Facilities $310541770
$310191270
$351500
Traffic Control Facilities $110791525
$110391568
$391957
Transportation Facilities $419921884
$213721969
$216191915
Legacy Development $3015771709
$1715451818
$1310311891
Water Facilities $915071952
$116211000
$718861952
$5697639919
$2994709751
$2792939168
11
FY 14/15 Mid -Year — All Funds Cont.
Increased expenditures
General Fund: increase of $140,000 for expenditures associated
with interim hanger and facilities improvements to support on-going
access and licensing activities. The expenditures are offset by
revenue already collected.
Approve supplemental appropriation of $171,500
Measure M: increase of $10,176 for expenditures associated with
the Enderle Center Drive and Vandenberg Lane Intersection capital
project.
Approve supplemental appropriation of $10,176
12
FY 14/15 Mid -Year — All Funds Cont.
Increased expenditures
Liability Fund (Internal Service): increase of $91,901 for legal fees
associated with liability claims.
Approve supplemental appropriation of $91,901
Information Technology Fund (Internal Service): increase of
$190,000 for a GIS consultant to aid with the planning and
implementation of a new GIS system.
Approve supplemental appropriation of $190,000
Assessment District 95-1 Construction Fund: increase of $150,400
for expenditures associated with Tustin Ranch Road irrigation
system upgrade ($30,138) and transfer funds to the Lighting and
Landscape District Fund for maintenance costs ($120,262).
Approve supplemental appropriation of $150,400
13
FY 13/14 Mid -Year — All Funds Cont.
Increased expenditures
Community Facilities District 06-1 Annexation Fund: increase of
$98,402 for expenditures associated with various capital projects.
Approve supplemental appropriation of $98,402
C I P Projects:
Peters Canyon Channel ($30,000)
Tustin Ranch Road Extension ($402)
Bell Avenue Extension ($14,000)
Moffett Drive Extension ($41,000)
Park Avenue Extension ($13,000)
14
Questions
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