CITY OF SAN ANTONIO F ive Ye ar F inanc ial F o re c ast F Y 2008 – F Y 2012 Presented by Peter Zanoni Management & Budget Director May 16, 2007
Overview Purpose · · · General Fund· · · Other Funds Purpose Purpose • • General Fund General Fund • • – Revenues Revenues – – Expenditures Expenditures – – Financial Reserve Policies Financial Reserve Policies – Other Funds/Areas Other Funds/Areas • • – Hotel Occupancy Tax Related Funds Hotel Occupancy Tax Related Funds – • Community & Visitor Facilities Community & Visitor Facilities • • Convention & Visitors Bureau Convention & Visitors Bureau • • Cultural Affairs Cultural Affairs • – Development Services Fund Development Services Fund – – Environmental Services Fund Environmental Services Fund – 2
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Purpose of Forecast Purpose · · · General Fund· · · Other Funds • Budgetary planning tool Budgetary planning tool • • Early identification of projected ending Early identification of projected ending • balances balances • Provides strategic model to evaluate future Provides strategic model to evaluate future • impact of budget decisions impact of budget decisions • Part of service delivery/goal setting Part of service delivery/goal setting • strategy for FY 2008 Proposed Budget strategy for FY 2008 Proposed Budget 4
Forecast Components Purpose · · · General Fund· · · Other Funds F Y 2006 Ac tual R e -E stimate d F Y E nding Balanc e Ide ntifie d 2007 R e ve nue s & Mandate s E xpe nditur e s Pr oje c te d F inanc ial R e se r ve F or e c ast F Y 2008 – F Y 2012 Goals R e ve nue s/ R ate s City Counc il Pr oje c te d F Y 2008 Appr ove d Polic y Pr e liminar y Base Issue s Budge t E xpe nditur e s thr ough F Y 2012 5
General Fund Forecast Highlights Purpose· · · General Fund · · · Other Funds • General Fund ending balance financially General Fund ending balance financially • strong in FY 2008 strong in FY 2008 • Two Two- -Year Balance Plan not achieved with Year Balance Plan not achieved with • FY 2009 projected shortfall of $29.9 M FY 2009 projected shortfall of $29.9 M • Forecast includes 50 additional Police Forecast includes 50 additional Police • Officers in FY 2008 (funded in FY 2007) Officers in FY 2008 (funded in FY 2007) • Forecast includes $5 M in CPS Utility Forecast includes $5 M in CPS Utility • Rebate to Environmental Services utility Rebate to Environmental Services utility 6
General Fund Forecast Highlights Purpose· · · General Fund · · · Other Funds • Forecast funds City service enhancements Forecast funds City service enhancements • (mandates) (mandates) • Forecast funds adopted Five Year Rolling Forecast funds adopted Five Year Rolling • Infrastructure Management Program Infrastructure Management Program • Forecast includes Financial Reserve Forecast includes Financial Reserve • Policy recommendations for future years Policy recommendations for future years 7
General Fund FY 08 Beginning Balance Purpose· · · General Fund · · · Other Funds • FY 2006 Actual Ending • FY 2006 Actual Ending FY 2007 FY 2007 Balance above FY 2006 Balance above FY 2006 Re- -estimate: estimate: $11.5 M $11.5 M Re FY 2007 FY 2007 FY 2007 FY 2007 FY 2007 FY 2007 • • FY 2007 Re FY 2007 Re- -estimate estimate Budget Budget Re- Re -Est. Est. Variance Variance ($ In Millions) ($ In Millions) above FY 2007 Budget: above FY 2007 Budget: Total Total $27.6 M 739.1 764.6 25.5 $27.6 M 739.1 764.6 25.5 Revenues Revenues • FY 2007 Ending Balance • FY 2007 Ending Balance Total Total 788.1 786.0 788.1 786.0 2.1 2.1 Reserve for FY 2008: Reserve for FY 2008: Expenditures Expenditures $21.0 M $21.0 M Total Combined Variance 27.6 Total Combined Variance 27.6 • Total FY 2008 • Total FY 2008 Beginning Balance: Beginning Balance: $60.1 M $60.1 M 8
General Fund Forecast Purpose· · · General Fund · · · Other Funds FY 2008 FY 2008 FY 2009 FY 2009 FY 2010 FY 2010 FY 2011 FY 2011 FY 2012 FY 2012 Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection ($ In Millions) ($ In Millions) Beginning Beginning 60.1 12.5 0 0 0 60.1 12.5 0 0 0 Balance Balance Reserve – – 50 50 Reserve 2.4 0 0 0 0 2.4 0 0 0 0 Police Officers Police Officers Current Revenues 787.2 787.2 807.0 807.0 831.8 831.8 856.9 856.9 881.2 881.2 Current Revenues Total Available Total Available 849.7 819.5 831.8 856.9 881.2 849.7 819.5 831.8 856.9 881.2 Resources Resources Total Expenditures Total Expenditures 837.2 837.2 864.4 864.4 895.2 895.2 925.8 925.8 950.5 950.5 and Reserves and Reserves Use of Budget Use of Budget 0 15.0 0 5.7 5.9 0 15.0 0 5.7 5.9 Stabilization Reserve Stabilization Reserve Remaining Remaining 12.5 (29.9) (63.4) (63.2) (63.4) 12.5 (29.9) (63.4) (63.2) (63.4) Balance Balance 9
Sales Tax Revenue Purpose· · · General Fund · · · Other Funds • FY 2007 Estimate $5.4 M above budget FY 2007 Estimate $5.4 M above budget • • FY 2008 Projection $7.6 M over FY 2007 Estimate FY 2008 Projection $7.6 M over FY 2007 Estimate • General Fund Sales Tax Revenue Forecast ($ In Millions) $225.5 $250 $217.5 $209.8 $201.6 $193.8 $186.2 $180.8 $200 3.66% 3.67% 4.06% 4.03% 4.09% $150 2.99% $100 $50 $0 FY 2007 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Budget Estimate Projection Projection Projection Projection Projection 10
Property Tax Revenue Purpose· · · General Fund · · · Other Funds • FY 2008 Projection $13.3 M above FY 2007 FY 2008 Projection $13.3 M above FY 2007 • Re- -Estimate Estimate Re City of San Antonio Current Property Tax Revenue Forecast ($ In Millions) $300 $243.2 $236.4 $228.6 $221.1 $250 $214.1 $200.8 $200.5 3.40% 2.90% 3.34% 3.30% $200 6.63% 0.15% $150 $100 $50 $0 FY 2007 FY 2007 Re- FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Budget estimate Property Value Increase 8.00% 3.5% 3.5% 3.5% 3.0% 11
CPS Revenues Purpose· · · General Fund · · · Other Funds • FY 2007 Re FY 2007 Re- -Estimate $18.55 M above budget Estimate $18.55 M above budget • • Forecast includes additional CPS transfer Forecast includes additional CPS transfer • CPS Revenues With Additional CPS Transfer $300 ($ In Millions) $ 10.65 $ 10.34 $ 10.04 $ 9.74 $ 9.46 $ 8.29 $250 $ 7.30 $262.08 $254.67 $247.08 $239.89 $200 $238.29 $236.11 3.0% 3.0% $219.74 3.0% 1.7% 8.6% -0.91% $150 $100 $50 Total Total Total Total Total Total Total $227.04 $246.58 $265.01 $245.57 $249.63 $257.12 $272.73 $0 FY 2007 FY 2007 Re- FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Budget estimate Projection Projection Projection Projection Projection CPS Energy Additional CPS Energy Transfer 12
All Current Revenues Purpose· · · General Fund · · · Other Funds • FY 2007 Re FY 2007 Re- -Estimate is $25.6 M over FY 2007 Estimate is $25.6 M over FY 2007 • Budget Budget • FY 2008 $22.6 M over FY 2007 Re FY 2008 $22.6 M over FY 2007 Re- -Estimate Estimate • All Revenues Including Transfers ($ in Millions) $1,000.0 $881.2 $856.9 $831.8 $807.0 $787.2 $764.6 $739.0 $750.0 $22.6 $25.6 Over Over Re-Est. Budget $500.0 $250.0 3.5% 2.9% 2.5% 2.8% 3.0% 3.0% $- FY 2007 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 F Y 2007 F Y 2007 F Y 2008 F Y 2009 F Y 2010 F Y 2011 F Y 2012 Budg et Re-Est. Budget Re-Est. 13
Expenditure Assumptions in Forecast Period Purpose· · · General Fund · · · Other Funds • Reflects funding to provide today Reflects funding to provide today’ ’s level of s level of • recurring City services recurring City services • Includes projected FY 2008 staffing levels Includes projected FY 2008 staffing levels • based on current personnel complement based on current personnel complement 14
Mandate Expenses Purpose· · · General Fund · · · Other Funds • Capital Improvements Operations & Capital Improvements Operations & • Maintenance Maintenance • Contract Requirement Contract Requirement • • Grant Match Requirement Grant Match Requirement • ($ In Millions) ($ In Millions) ($ In Millions) ($ In Millions) FY 2008 FY 2008 FY 2008 FY 2008 FY 2009 FY 2009 FY 2009 FY 2009 FY 2010 FY 2010 FY 2010 FY 2010 FY 2011 FY 2011 FY 2011 FY 2011 FY 2012 FY 2012 FY 2012 FY 2012 Total Mandates Total Mandates $4.15 $4.15 $2.35 $2.35 $4.05 $4.05 $3.62 $3.62 $1.22 $1.22 Total Mandates Total Mandates $4.15 $4.15 $2.35 $2.35 $4.05 $4.05 $3.62 $3.62 $1.22 $1.22 15
Expenditure Assumptions in Forecast Period Purpose· · · General Fund · · · Other Funds • Inflation rate projections applied to select Inflation rate projections applied to select • contractual and commodity budgets contractual and commodity budgets FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 2.21% 2.09% 2.14% 2.22% 2.32% Inflation Rates • Adds Mandate costs Adds Mandate costs • • Includes Base Funding levels within City Includes Base Funding levels within City • Council approved policy plans Council approved policy plans • Removes Removes “ “one one- -time time” ” expenditures expenditures • 16
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