1 / 21

Tuesday, April 15 th , 2014

Year to Date Budget Review. Tuesday, April 15 th , 2014. Christopher M. Quinn , MACC, CPA, CFE, CGFO, CGMA Finance Director Lina Williams Budget & Financial Analyst. Budget Preparation Timeline. January First Quarter Review February Financial Audit March

rangle
Download Presentation

Tuesday, April 15 th , 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Year to Date Budget Review Tuesday, April 15th, 2014 Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMA Finance Director Lina Williams Budget & Financial Analyst

  2. Budget Preparation Timeline • January • First Quarter Review • February • Financial Audit • March • Presentation of Annual Progress Report and Citizen Survey Results • Revise 10 Year Infrastructure Plan • April • Presentation of the Year to Date Budget • Second Quarter Review • Budget Input Begins for Departments • May • Annual Update of the Strategic Action Plan • Fund Presentation • Long Term Financial Planning Presentation • June • Revenue Source Presentation • Property Tax Presentation

  3. Budget Preparation Timeline • July • General Fund Budget Workshop • Adopt Proposed Millage Rate • Proprietary Funds Budget Workshop • Third Quarter Review • August • Special Revenue & Capital Fund Budget Workshop • Final Proposed Budget Presentation • September • Public Hearing to Tentatively Adopt Millage Rate & Budget • Public Hearing to Adopt Final Millage Rate & Budget

  4. Where we started Budget by fund

  5. Where we started General Fund

  6. Where we started Revenue by source

  7. Where we started Expenditures by function

  8. Where are we now? Revenues • Overall revenues are tracking on budget • General Fund • Water/Wastewater • Solid Waste • Stormwater

  9. Where are we now? Revenues • Building revenues are tracking ahead of budget • Water Impact Fees • Wastewater Impact Fees • Recreation Impact Fees • Fire Impact Fees • Transportation Impact Fees • Zoning Fees • Planning Fees

  10. Where are we now? Revenues Building Permit Revenue

  11. Where are we now? Revenues Number of Permits Issued

  12. Where are we now? Tax revenue from the State through March 2014

  13. Where are we now? Expenditures • Overtime • 10 division are ahead of budget for overtime • Four major causes have been identified • Staffing vacancies 42% • Starlight tornado 27% • Operational needs23% • Increase in development 8% • Not anticipated to be an issue at this time

  14. Where are we now? Expenditures • Capital Projects • Capital projects are being overseen by the Infrastructure Team • All projects are meeting budget expectations • Project timeline is being updated quarterly

  15. What’s New? • New “Finance Reports & Documents” section on the City Website • Presentations - Financial Reports - Quarterly Progress Reports & More!

  16. What’s New? Budget at a Glance

  17. What’s New? Staff is now participating in the government finance officers association (GFOA) budget reviewer program

  18. What’s New? Long Range Financial Planning Process Defined

  19. What’s New? • City Manager Review • Budget YTD review and findings by finance • Performance measures review • Quarterly progress report • Finance Review • Budget compliance review • YTD budget review with department • Memo to City Manager regarding findings • Annual Progress Report Quarterly Review Process Continues to Improve • Department Review • Review performance measures • Prepare quarterly progress report • Schedule meeting with City Manager • Annual Budget • Annual Strategic Action Plan Review

  20. What’s Next? • May • 13th - Fund Review Presentation • 27th- Long Term Financial Planning Presentation • June • 10th- Revenue Source Presentation • 24th - Property Tax Primer Presentation • July • 8th- Budget Workshop - General Fund • 15th - Budget Workshop - Adopt Proposed Millage Rate • 29th- Budget Workshop - Proprietary Funds • August • 12th Budget Workshop – Special Revenue Funds & Capital Funds • 26th- Final Proposed Budget Presentation • September • 3rd - Public Hearing to tentatively adopt millage rate and budget • 17th - Final Public Hearing to adopt final millage and budget

  21. Questions & Discussion

More Related