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Budget Work Session Fiscal Year 2010-2011 July 27, 2010

Budget Work Session Fiscal Year 2010-2011 July 27, 2010. Budget Work Session Agenda. Presentation of 2010-11 Initial Budget Discussion. Assumptions Affecting the FY 2010-2011 Budget. Property value is estimated at a 1.2% decrease. Sales tax is projected to remain flat.

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Budget Work Session Fiscal Year 2010-2011 July 27, 2010

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  1. Budget Work Session Fiscal Year 2010-2011 July 27, 2010

  2. Budget Work Session Agenda • Presentation of 2010-11 Initial Budget • Discussion

  3. Assumptions Affecting the FY 2010-2011 Budget • Property value is estimated at a 1.2% decrease. • Sales tax is projected to remain flat. • Home starts are projected to be 200 (same as FY 2010). • New personnel for Recreation Center and Library to be hired at various starting dates; revenues to partially offset this cost will begin FY 2011. • Continuing with the public safety radio system project in partnership with the cities of Murphy, Plano and Allen. For FY 2011, $880,932 will be used from the General Fund – fund balance. • Municipal Complex operating costs.

  4. Assessed Property Valuations $ 2184.2 $ 2222.6 $ 2195.9* $ 2024.7 $ 1785.5 $ 1566.7 Values in Millions Average Single Family Home Value for 2010-11 is: $ 152,564 *Certified Assessed Values for FY 2011.

  5. Annual Sales Tax Receipts $ 5.196 $ 5.196 $ 5.182 $ 5.000 In Millions $ 4.540 $ 4.390 Includes estimated figures for FY 09-10 and proposed figures for FY 10-11.

  6. General Fund Fund SummaryFY 2010-11

  7. General Fund Projected RevenuesFY 2010-11$24,800,450

  8. General Fund Expenditures By Function FY 2010-11$24,351,717

  9. Utility Fund Projected RevenuesFY 2010-11$11,279,000

  10. Utility Fund Expenditures by Department FY 2010-11$11,249,235

  11. Utility Fund Fund SummaryFY 2010-11

  12. 4B Sales Tax Projected RevenuesFY 2010-11$1,321,556

  13. 4B Sales Tax Expenditures by Department FY 2010-11$1,620,016

  14. 4B Sales Tax Fund Fund SummaryFY 2010-11 • An estimated transfer of $510,775 is included in the 4B expenditures to offset costs associated with the new Recreation Center.

  15. Recreation Fund Projected Revenues FY 2010-11$600,000

  16. Recreation Fund Expenditures by Category FY 2010-11$1,160,775

  17. Recreation FundFund SummaryFY 2010-11 • An estimated transfer of $510,775 is included in the Recreation revenue to offset costs associated with the new Recreation Center.

  18. Emergency Communications Projected Revenues FY 2010-11$1,579,214

  19. Emergency Communications Expenditures by Category FY 2010-11$1,923,374

  20. Emergency CommunicationsFund SummaryFY 2010-11 • A transfer of $880,932 from General Fund-Fund Balance will be made for FY 2011 for the final installment of the Radio Communications Tower.

  21. FY 2010-11 Recommended Key Budget PointsEmployee Salary & Benefits Assumptions • Step Increase of 0% • Cost of Living Allowance Increase of 0% • Pay reduction of 1.9% (equivalent of 5 days pay) for non-public safety full time employees with an additional 5 days of paid elective leave. • Public safety employees would incur a 1% salary decrease for FY 2011. • Health insurance must be re-bid summer 2010. Costs are projected to increase 25%.

  22. 7 YearAd Valorem Tax Rate History • A $0.01 rate increase would provide approximately $200,000 in additional revenue • * 2010-2011 Preliminary Tax Rate

  23. General Fund Fleet ReplacementFY 2010 -2011 • Police vehicles to be replaced during FY 2011 will consist of the following: • Parks vehicles to be replaced during FY 2011 will consist of the following:

  24. Utility Fund Fleet ReplacementFY 2010 -2011 • Engineering vehicles to be replaced during FY 2011 will consist of the following: • Sewer vehicles to be replaced during FY 2011 will consist of the following:

  25. Opportunities for Citizen Review & Input Proposed Budget Filed with City Secretary 08/05/2010 Adoption of Resolution Setting Dates of Public Hearings 08/10/2010 1st of Two Public Hearings on the 2010-11 Tax Rate *08/24/2010 Hold a Public Hearing for the FY 2010-11 Budget 08/24/2010 2nd of Two Public Hearings on the 2010-11 Tax Rate*09/07/2010 Schedule & Announce Meeting to Adopt Tax Rate 2010-1109/07/2010 Adopt 2010-11 Annual Operating Budget and Tax Rate 09/14/2010 Information regarding the proposed budget also will be available at Smith Public Library and online athttp://www.wylietexas.gov/departments/finance/Budget.php *if necessary

  26. Questions? City Manager Mindy Manson 972-442-8120 mindy.manson@wylietexas.gov Finance Director Linda Bantz 972-442-8141 linda.bantz@wylietexas.gov

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