Truckee River Flood Management Authority { FY2015 Budget Development
For Discussion Forecast for the close of FY14 Operations Assumptions and Projections for FY15 Cash Flow through FY19
TRFMA’s FY14 Year End Financial Position { Bottom Line Forecast
General Fund FY14 Ending Fund Balance • Budgeted $ 6,052,300 • Projected $11,971,414 • Difference due to: o Transfers Out to Capital Projects Fund o Fewer professional services used o Higher than expected revenues
Capital Projects Fund FY14 Ending Fund Balance • Budgeted $ 73,900 • Projected $156,877 • Difference - much rolled to FY15 o Transfers In from General Fund o NTD construction o Demolition project
TRFMA’s Financial Outlook for FY15 { Budget Preview
Budget Calendar April 11 – Tentative Budget to Board April 15 – File Tentative Budget with State May 6 – Publish notice of public hearing May 15 – Public Hearing June 1 – File Final Budget with State
The Bottom Line Capital Projects Fund General Fund 7-1-2014 $ 156,877 7-1-2014 $11,971,414 Revenue + 10,000 Revenue + 5,695,900 Expenses - 5,835,000 Expenses - 5,068,050 Transfer In + 5,700,000 Transfer Out - 5,700,000 6-30-2015 $ 31,877 6-30-2015 $ 6,899,264
Sales Tax Distributions Budget FY15 $7,964,300 Budget is up $379,200 from estimated FY14 Forecasting growth at 5% Washoe County used 4.7% in January forecast
Interest Earnings Expecting to utilize a significant portion of available cash in FY15 Using same interest factor as in FY14 Consistent with Washoe County - forecasting flat growth
Payroll and Benefits 8 employees Promotion/reclass included Within Washoe County estimates No changes for COLAs or PERS No change to health insurance premiums
Professional Services Engineering $1,730,747 o KimleyHorn, RVA, HDR, Corps Flood Funding Study and Rate Hearing $454,199 o FCS, Public Outreach, Recreation and Restoration Analysis, Rate Hearing Prep Legal and Financial $233,000 Flood Warning and Environmental $75,000 Unallocated $250,000
Capital Projects Virginia Street Bridge Construction $3,000,000 North Truckee Drain Construction $2,375,000 Demolitions $ 450,000
Other Expenditures Not much change from FY14 budget May be adjusted more in next month
Cash Flow through FY19 Cash flow for all projects and activities is positive. Presentation in April.
In Summary FY14 ending fund balance > budget FY15 sales tax distributions > FY14 FY15 capital projects – VSB, NTD, demos FY15 rate development continues in earnest FY15 total ending fund balances $6,931,100 5-Year Cash Flow projections are positive
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