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Budget Items

Budget Items. FY 2014 Current Year Snapshot and FY 2015 Looking Forward. Management Team November 6, 2013 Department of Budget & Evaluation. FY 2014 Operating Budget $782 million + FY 2014 Capital Improvements $83 million $866,155,931 Total FY 2014 Financial Plan.

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Budget Items

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  1. Budget Items FY 2014 Current Year Snapshot and FY 2015 Looking Forward Management Team November 6, 2013 Department of Budget & Evaluation

  2. FY 2014 Operating Budget $782 million + FY 2014 Capital Improvements $83 million $866,155,931 Total FY 2014 Financial Plan

  3. Where does the money come from?

  4. General Fund Revenue

  5. Where does the money go?

  6. Upcoming Budget Preparation

  7. Looking forward to FY 2015 Revenue Challenges Basic Expenditure Changes Increased Pension Contribution Increased Debt Service Increased Health Insurance Prem Increased OPEB Contribution? Full Operations – Animal Shelter Increase Cash Capital – FY 15 CIP Restore vehicle replace, paving, IT equipment, other equipment? Potential Salary Adjustment? Schools Contribution? Likely Reductions • Falling RE Assessments $ -3m • Sequestration/Shutdown Impact? $ -?m Potential Increases • New Businesses in City Threats • State Legislation – BPOL, Mach & Tools – Which Gubernatorial Candidate won? Expense = $19 to $20 million increase

  8. Basic Math of FY 2015(General Fund only) The Revenue Picture The Expenditure Picture $433m base Budget + 17m Potential Increases $450m in Expenses $433m base Budget - 3m “known” revenue loss + 0m revenue gains? $430m Revenue GAP = $20 million at start of FY 2015

  9. Target Budget Amounts for FY 2015 95% of Current Service Level Current Service Level is: FY 2014 Adopted Budget (includes Current Salaries as of October 11th) - minus One-Time Expense in FY 2014 + plus FY 2015 fringe benefit adjustments FY 2015 Target Budget is 95% of this total

  10. Five Year Financial Plan • Lays out City Operating needs over time • Gives City Council a long-term view • Helps direct decision making • Submission should be KNOWN changes -contract changes, mandatory regulations equipment replacements, etc.

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