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August 14 2012 Budget Workshop No. 5 12-13 Fiscal Year preliminary Budget. Innovation will serve to keep the plan in the forefront of all that we do. Our actions should always be advancing the Plan. Operation Innovation. Workshop Schedule. Schedule of FY 12-13 Council Work Sessions:
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August 14 2012 Budget Workshop No. 512-13 Fiscal Year preliminary Budget Innovation will serve to keep the plan in the forefront of all that we do. Our actions should always be advancing the Plan. Operation Innovation
Workshop Schedule Schedule of FY 12-13 Council Work Sessions: • June 7- Budget Format Workshop* • June 26- Capital Projects & Replacement/Renewal Fund Workshop* • July 10- General Fund (and smaller ancillary funds) Workshop** • July 24- Enterprise Fund Workshop (Electric, Telecommunications, Water/Sewer, Sanitation, Golf & Airport)* • August 14-Preliminary Budget Presentation Workshop* • September 4th - 1st 5:05 PM Reading Tentative Budget (Public Hearing) • September 18th - 2nd 5:05 PM Reading Final Budget (Public Hearing) *11:00 Council Lunch *11:30-1:30 Work Session (Council Chambers) ** 3:00 pm Work Session (Council Chambers)
FY 12-13 Proposed Budget Information • Council has conducted 4 workshops covering the following: • Budget Format • Capital Projects/Replacement & Renewals • General Fund & Ancillary Funds • Enterprise Funds • All Council changes have been incorporated into the budget document.
FY 12-13 Proposed Budget Information • The FY12-13 Budget is balanced at the roll-back rate of 6.1502. • There are no rate or fee increases projected for any of the enterprises. • There are no raises budgeted. • Health Insurance rates rose by 2%. The City has implemented a wellness incentive that will guarantee a premium rate hold for those employees who participate. • The City has absorbed the increases in pension contributions. • The General Fund reserve for cash balance forward is fully funded at the 20% level. • All of the Enterprise funds are balanced revenues to expenditures, with the exception of the Golf fund . Golf receives a transfer from the General Fund.
FY 12-13 Proposed Budget Information • Savings from the Bond Debt refinancing have been incorporated into the budget. • Interfund transfers have been adjusted accordingly to balance the budget. • A blend of the 3% & 10% reduction options have been incorporated into the budget. • Savings from the VSIP have been incorporated into the budget. • Every effort has been made to provide and open and transparent document. • The budget document will be submitted for the GFOA Award this year.
7 Strategies Progress for FY 12-13 Budget • Blueprint to Fiscal Sustainability (ongoing) • 3% & 10% budget reduction submittals (completed) • 911 Communications Consolidation (ongoing) • Pension Reform (ongoing) • Debt Refinancing (completed) • Interfund Transfers (ongoing) • Voluntary Separation Incentive Program (completed)
What’s Next? Permanent Solutions: • 911consolidation (Fire Only) ~$470K • Pension Reform (TBD) • Blueprint Committees (TBD) Temporary Fixes: • Transfer of $2.6M from 1/8 Mil Police & Fire Fund • 800 Mhz payment made from Renewal & Replacement Fund (~$300K) • OPD expenses moved to Police Trust & Agency Fund (~600,000)
