HomeMy WebLinkAboutPOWERPOINT PRESENTATION (MID-YEAR BUDGET - ITEM #10)Mid -Year Budget
FY 2015-1 6
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HISTORY
BUILDING SJR FUTURE
HONORING OUR PAST
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FY 15/16 Mid -Year General Fund
Projected General Fund Revenue June 30, 2016
Mid -Year FY15/16 projected revenue is $55,758,340
0.5% or $289,040 greater than the amended budget:
$55,469,300
Major contributors to this change in revenues:
Increase administrative cost recovery from
administering the CFDs: $186,000
Increase in Interest income: $144,200
Increase in Fines &Forfeitures: $50,000
Decrease New Construction Tax: ($66,100)
Decrease in Use of Property: ($62,500)
0
FY 15/16 Mid -Year General Fund Cont.
Projected GF Expenditures:
Budget: $55,113,269
Projection: $56,557,056
Over Budget by $1,443,787
Recommended action includes supplemental
appropriation of $1,443,787 for expenditures
associated with the various Memorandums of
Understanding.
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FY 15/16 Mid -Year General Fund Cont.
As of July 1, 2015
Transfer I n $9101500
Planned Use of Excess Reserves $0
Revenue $5415581800
Expenditures ($53,206,700)
Transfer Out ($1,126,000)
$1,136,600
Midyear Budget:
Transfer I n $9101500
Planned Use of Excess Reserves $212241356
Revenue $5418471840
Expenditures ($55,431,056)
Transfer Out ($1,126,000)
$1,425,640
0
FY 15/16 Mid -Year General Fund Cont.
Projected Year End Fund Balance
Mid -Year budget: $23,455,022
42% of General Fund Expenditures (excludes one-
time transfers)
Necessary for cash-flow
Meets the City Council reserve policy of 20% General
Fund reserve
5
Sales Tax
6 ort
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i
d
$25
$20
X $15
CA
m
cc
$10
$5
$0
09-10
10-11
11-12
12/13
13-14
14-15
15-16
Projected
Sales Tax
$15,671,03
$18,342,28
$19,666,67
$21,276,99
$21,975,56
$21,942,12
$24,412,00
% Change
-20.9%
17.0%
7.2%
8.2%
3.3%
3.1%
11.1%
20.0%
15.0%
10.0%
5.06
0.0% EM
.CD
-5.0% c
m
u
10.09', a
161MG .
-20.0%
-25.0%
Sales Tax
f90 Change
6
Property Tax
$7.9
09-10 10-11 11-12
$8.3
12/13 13-14 14-15
F
L
15-16 7
Projected
FY 15/16 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 2015-16 revenue: $1,300,000
FY 15/16 Mid -Year General Fund Cont.
Total General Fund expenditures: $56,557,056
Non -Departmental,
Other
4%
Paries and Recreation
6%
Fire Services ------
12%
City Council
-11
Police Services
43%
City Clerk City Attorney City Manager
,I CV Hnf - of
Finance
%
Human Resources
1%
Community
Development
7
Public Works
20%
A
FY 15/16 Mid -Year — Capital Projects
Amended
Category Budget
FY 15/16
Projected
Expenditure
FY 15/16
FY 16/17
Project
Carryovers
Flood Control Facilities $2116321988
$211981518
$1914341470
Park Facilities $119311700
$9491565
$9821135
Public Facilities $410621000
$116801000
$213821000
Traffic Control Facilities $3551144
$3801590
$0
Transportation Facilities $216931000
$211451280
$5471720
Legacy Development $4317641000
$2511551931
$1816081069
Water Facilities $815031640
$411771520
$413261120
$8299429472
$3696879404
$4692809514
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FY 15/16 Mid -Year — All Funds Cont.
Increased expenditures
General Fund: increase of $1,443,787 for expenditures associated
with the various Memorandums of Understanding.
Approve supplemental appropriation of $1,443,787
CDBG Fund: increase of $148,359 for expenditures associated
with downtown commercial core / old town study and Frontier Park
playground renovation.
Approve supplemental appropriation of $148,359
Asset Forfeiture Fund: increase of $160,300 for fund transfers to
the RNSP Asset Forfeiture and Treasury RNSP Asset Forfeiture
Funds as required by State and Federal agencies.
Approve supplemental appropriation of $160,300
12
FY 15/16 Mid -Year — All Funds Cont.
Increased expenditures
Supplemental Law Enforcement Fund: increase of $6,400 for
expenditures associated with the various Memorandums of
Understanding.
Approve supplemental appropriation of $6,400
Information Technology Fund (Internal Service): increase of
$12,300 for expenditures associated with the various
Memorandums of Understanding.
Approve supplemental appropriation of $12,300
Community Facilities District (CFD) 04-1 & 13-1: increase of
$38,300 for expenditures associated administrative costs related to
administering the CFDs.
Approve supplemental appropriation of $38,300
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Questions
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