City Manager’s Proposed Budget David Gaines Finance Director August 13, 2019 August 13, 2019 - ID19-1842
Objective • Budget Calendar • Follow-Up Items • General Fund Forecast • Supplemental Packages • Next Steps August 13, 2019 - ID19-1842
Key Budget Dates General Fund Five Year Forecast Presentation, Departmental Presentations ✓ June 18, 2019 Departmental Presentations ✓ June 25, 2019 2 nd General Fund Five Year Forecast Discussion, Departmental Presentations ✓ July 16, 2019 Departmental Presentations ✓ July 23, 2019 Final Certified Value Received ✓ July 24, 2019 1 st Budget Workshop – City Manager’s Proposed Budget Submitted to Council ✓ August 1, 2019 2 nd Budget Workshop • August 13, 2019 1 st Public Hearing on Tax Rate • August 20, 2019 2 nd Public Hearing on Tax Rate & Public Hearing on Budget • September 10, 2019 Council Adopts Budget • September 17, 2019 August 13, 2019 - ID19-1842
General Fund Forecast FY 2018-19 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-2022 FY 2022-23 FY 2023-2024 Budget Estimate Proposed Projected Projected Projected Projected Beginning Fund Balance $ 30,317,385 $ 30,317,385 $ 30,269,101 $ 30,273,319 $ 30,160,606 $ 29,906,987 $ 30,231,526 $ 46,259,982 $ 46,259,982 $ 50,393,457 $ 52,119,958 $ 53,743,336 $ 55,367,248 $ 56,991,713 Property Tax 41,425,582 37,953,567 39,281,942 40,656,810 42,079,798 43,552,591 45,076,932 Sales Tax 40,015,741 41,492,342 44,977,353 45,266,504 46,511,163 47,993,460 49,637,937 Other Revenues $ 127,701,305 $ 125,705,891 $ 134,652,752 $ 138,043,272 $ 142,334,296 $ 146,913,299 $ 151,706,582 Total Revenue $ 129,184,436 $ 125,302,274 $ 130,215,005 $ 137,355,984 $ 142,587,915 $ 146,588,760 $ 150,954,804 Base Expenditures $ 3,919,773 $ 800,000 New Recurring Expenses $ 451,901 $ 513,757 New One-Time Expenses $ 129,184,436 $ 125,754,175 $ 134,648,535 $ 138,155,984 $ 142,587,915 $ 146,588,760 $ 150,954,804 Total Expenditures Ending Fund Balance $ 28,834,254 $ 30,269,101 $ 30,273,319 $ 30,160,606 $ 29,906,987 $ 30,231,526 $ 30,983,304 Change in Fund Balance $ (1,483,131) $ (48,284) $ 4,217 $ (112,712) $ (253,619) $ 324,539 $ 751,778 Fund Balance as % of Total Expenditures 22.32% 24.07% 22.48% 21.83% 20.97% 20.62% 20.52% August 13, 2019 - ID19-1842
Supplemental Package Summary Tier 1 General Fund Tier 2 Tier 3 • Supplemental packages have been grouped into tiers ranging from 1-5. Tier 4 • $1,082,434 one-time Cost, $5,479,588 on-going cost Tier 5 • Tiers 1-3 included in Proposed Budget Increase Above One-Time Cost Recurring Cost Tier Total Total Cost Proposed Rate Tier 1 $.00 $80,000 $1,298,100 $1,378,100 $1,378,100 Tier 2 $.00 $53,684 $1,124,034 $1,177,718 $2,555,818 Tier 3 $.00 $305,073 $1,250,425 $1,555,498 $4,111,316 Tier 4 $.01 $461,027 $759,539 $1,220,566 $5,331,882 Tier 5 $.02 $182,650 $1,047,490 $1,230,140 $6,562,022 • Funding may change based on recreation and development service fee studies August 13, 2019 - ID19-1842
Next Steps • Public Hearings – August 20 th and September 10 th • Development Services and Parks & Recreation Cost of Service Studies – August 20 th • Budget Discussions – All work sessions through September 17 th • Budget Adoption – September 17 th August 13, 2019 - ID19-1842
August 13, 2019 - ID19-1842
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