Town of Warsaw Budget Presentation Fiscal Year 2019 Joseph N. - PowerPoint PPT Presentation

Town of Warsaw Budget Presentation Fiscal Year 2019 Joseph N. Quesenberry Town Manager

What does the Town fund? • Police • Wastewater • Waste Collection • Water • Economic Development • Tourism • Parks and Recreation • Revitalization Efforts • Charities and Organizations

Core Objectives for Continued Strength • Continue to pursue grant funding opportunities Lower Capital • Maintenance Mode – Decrease Expenditure s Projects and Expenditures Grant Economic Funding Growth • Continue Incentives for Economic Growth Strong • Continue our Reputation for Financial Standing Strong Fiscal Health

How do we achieve these objectives? • Leave cash reserves solid and sound. • Pursue grant funding for any projects we wish to pursue. • Increase our tax base through incentives and economic development.

Our Budget Process Capital Improvement Plan General Operating Budget • Serves as an outline for large-scale • This serves as our operating budget for capital expenditures. next fiscal year (July 1 – June 30). • Department Heads submit requests and • Budget must be balanced and needs to answer questions asked by the Planning include contributions to capital reserves. Commission and Council. • Two funds are featured in the budget: • This serves as a PLAN. No expenditures General Funds (Tax Revenue) and are guaranteed to occur if we are unable Enterprise Funds (Fees from Services). to pay for them.

Your Budget at a Glance • Reduced nearly all department budgets through careful planning, staff reductions and reorganizations, all while addressing exponential increases in insurance rates. • Increased items that improve overall quality of life: i.e., parks, economic development, beautification efforts, etc. • Nearly all revenues are projected to be higher than estimates. • All major projects are funded and all loan obligations are funded. • Estimating apr. $20,000 - $30,000 will be contributed to undesignated reserves with this budget. • Proposed salary increase of 2.5% for all full-time Town Staff.

Anticipated Revenue Trends $300,000.00 $278,990 $265,856.08 $260,000 $250,000.00 $194,744.91 $200,000.00 $186,000 $150,000.00 $134,779 $100,000.00 $63,982.55 $63,913.99 $60,000 $58,000 $46,606 $44,937 $50,000.00 $0.00 Personal Property Real Estate Meals Tax Sales Tax FY 17 Final FY 18 Estimate FY 19 Budgeted

Budget Breakdown by Department % of Total • General Operations are all Department Department Operating Departments except Water and Budget Budget Wastewater. They are funded through Administration $415,006 43% the General Fund via tax revenue and excise taxes (Real Estate, Personal Police $320,180 33.5% Property, Meals, etc.). Public Service $219,608 23% Contributions $45,850 Debt Service $81,653 Capital Outlays $1,986,757 Total Budget $3,069,054

Enterprise Funds – Water and Wastewater Enterprise Funds are collected through recurring monthly payments by Town customers. These include your water, sewer and garbage bills. Water Wastewater Operating Budget $249,020 Operating Budget $388,455 Capital Expense $32,000 Capital Expense $67,345 Debt Service $0 Debt Service $249,200 Total $281,020 Total $705,000

FY 2018 Budget VS. Proposed FY 2019 Budget Department 2018 2019 Over/(Under) Previous Year Administration $420,475 $415,006 ($5,469) 1.3% Decrease Police $332,510 $320,180 ($12,330) 3.7% Decrease Public Service $226,360 $219,608 ($6,752) 3.0% Decrease Water $352,000 $281,020 ($70,980) 20.2% Decrease Wastewater $246,570 $249,200 $2,630 1.06% Increase

Warsaw’s Cash Reserves Remain Strong • Common practice within larger Virginia localities is to maintain a cash reserve balance that equals 20% of annual operating expenses. • Smaller towns, with smaller budgets and large expenditures, should maintain a minimum reserve balance of 50% of operating expenses. • Warsaw’s designated and undesignated reserves amount to the following: $1,815,165.57 – General Fund $300,121.77 – Water Fund $467,954.38 – Wastewater Fund $2,583,241.72 – TOTAL *Note – This figure does not include cash in the bank.

Capital Improvement Plan Items to be funded in this Fiscal Year include the following: • $126,000 – New Garbage Truck ( Applied for USDA Rural Development Assistance ) • $625,000 – Gannon Project ( Combination of grants, loans, and a designated $.03/100 tax increase from the previous FY ) • $40,000 – New F250 Work Truck to Replace a 2004 F150. Tow-Behind Boom Attachment is Included. • $69,000 – Mandatory Police Equipment Upgrade ( Applied for USDA Rural Development Assistance )

Strawberry Hill Tract The chart, pictured left, was compiled by our consultant. These are anticipated gross figures, with net numbers coming in approximately 10% lower.

Questions? Comments?

Moving Forward Budget Public Hearing Presentation and Final Adoption and Discussion Discussion