HomeMy WebLinkAboutStaff Report 1.A 04/23/2012 Ayin1wItevw#1 .A ,
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DATE: April 23, 2012
TO: Honorable Mayor and Members of the City Council through City Manager
FROM: William Mushallo, Finance Director/City Treasurer
SUBJECT: Budget Workshop to review Changes since the Mid-Year update, a Revised Long
Term Forecast, and Proposed Departmental Budget Reductions
RECOMMENDATION
It recommended that the City Council review the attached proposed General Fund budget
reductions for 2012-13 and provide feedback as appropriate.
BACKGROUND
On February 27, 2012, a mid-year General Fund financial update was presented to the City
Council. At that time revenues and expenditures were updated from those presented to the
Council in the adopted budget, and a revised 5-year forecast was presented. The forecast
projected that a$1.6 million annual structural deficit exists in the General Fund.
DISCUSSION
Based on the mid-year review and updated 5-year forecast,departments were directed to submit
budget reduction proposals equal to 5% of their General Fund,budgets. A five percent reduction
will provide $1.598 million in-savings across the General Fund, and balance deficits anticipated
for 2012-13 and through the remainder of the forecast period. Departments were directed to
evaluate opportunities for reductions on a programmatic basis. This approach worked for a few
departments; most, due to the size of their reduction targets, were able to hit those targets
utilizing further reductions in their services and supplies accounts. All department proposals
were then analyzed, and the vast majority are intended for inclusion in the draft budget that will
be presented to the City Council in two weeks. The workshop on April 23rd provides the Council
with an opportunity to review those proposals before they are incorporated into the draft budget,
and provide any appropriate feedback.
At the same.time as budget proposal were developed General Fund revenues and expenditures
have were further analyzed, based on three quarters of FY 2011-12 financial.results. While some
changes in revenue categories have occurred the overall results are very similar to what was
anticipated at mid-year. Expenditures are also trending similarly. These updated results have
been incorporated into a revised long-term financial forecast, the summary of which is provided
Agenda Review:
City Attorney Finance Di ecto ' City Manager
with this report. One significant change worth noting is additional information received
regarding the PERS earnings assumption changes scheduled for FY 2013-14. At the time of the
update, it was anticipated that the impact on SafetyPERS+crates would be a 4% increase. Since
that time, updated information has been received from PERS and the projected impact has been
reduced to 3%. This provides an.additional $125,000 in funding available to balance the budget
during the forecast period. Taking this change into account along with the results of the updated
forecast for FY 12-13, reduces the amount needed to balance the estimated annual deficit from
$1.6 million to approximately $1.510 million. This savings was applied to the proposal
submitted by the Police department, which had a reduction target of slightly more than $700,000,
and will retain one Animal Control Officer Position of the two proposed for elimination.
Since mid-year, a new Eden budget system was also implemented. The system takes salary and
benefit data directly from the payroll system and uses it to build the budget. This dramatically
reduces the possibility of calculation errors during the process by eliminating manual processes.
These errors have been the source of difficulty in attaining budget accuracy in the past.
These proposals summarized with this agenda report will allow for a balanced budget in 2012-13
and beyond, and as such are currently recommended for inclusion in the draft budget to be
presented to the City Council on May 6, 2012. Their effect on the 2012-13 budget, and in the
five-year financial forecast are provided in Attachment 2. Staff from each department will be
available at your workshop to answer any questions you may have regarding the anticipated
impacts of their reduction proposals. In the meanwhile, if you have any questions, please contact
the City Manager or me at your convenience.
One final note: It is important to remember that the attached documents are drafts and subject to
change between now and when the budget is prepared and approved.
ATTACHMENTS
1. FY 12-13 draft expenditure budget report by department.
2. Draft long term financial forecast update
3. Department budget reductions in table format
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General Fund Long Term Forecast
Final Budget Forecast Forecast Forecast
Revenue Categories 2012, 2013 2014. 2015 2016
Property Taxes $6;758,740 $6,758;740. ,$6,860,121 $7,065;925 $7,277602
Sales and Use Taxes 9,296,000 9,900,0o0 10,296,000 10,810,800 11,297,286
Regency Impact 196750 511,000 511.000
Business Lic&Prop Trf Taxes 1,675,000 1,666200 1,641,186 1,690422 1,741,134
Franchise Fees 2,241,666 2,264,853 2,332,799 2,402,783 2,474,866
Licenses and.Permits 821-,000 886;990 913,600 941,008 969,238
Fines&Forfeitures&Penalties _ 539,100 539,100. 549,882 560,880 572,097
Investment Earnings and Rent 298,000 298,050 306,992 .316,201 325,687
Intergovernmental Revenues 4,266,389 4,273,589 4,359,061 4,446,242 4,535,167
Charges for Services 4;260,550 4,239;194 4,323,978 4,410,457 4,498,667
Other Revenues 36,300 31,906 32,544 33,195 33,195
Transient Occupancy Tax Trf 1,150,000 1,075,000 1,075,000 1,075,000 1,075,000
Other Transfers and Sources 318,400 285,375 285,375 '285,375 285,375
tTOtal1Reyenuess ^ r - 4',;t'.C.E316B1;146 ` FSS32;218"997° ii 33173;2871'; E34;548;287g $35695;615]
Final Budget Forecast Forecast Forecast
Expenditure Categories 2012 2013 2014 2015 2016
Salaries and Wages $18,033,490 $17,943,982. $19,224;023 $19,330,814 $19,375,613
Storm water impact 200,000 200,000
Benefits 7,655,180 8,519,219. 9,552,552 10,057,064 10,446,663
Services&Supplies 4,822,600 4,653,238 4,915,665 5,013,978 5,114,258
Budget reductions (1,510,000). (1,510,000) (1,510,000)
Intragovernmental 1,161,960 1,161,960 1,161,960 1,161,960 1,161,960
Fixed_Assets`&Cap.Outlay. 8,200 8,200 8,200 8,200 8,200
Transfers Out 65,000 - - - 0
Total Expenditures $31,746,430 $32,286,599 $33,352;400 $34,262,016 $34,796,694
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IFundrBal! Beg of4Yeae. - (4461;4"a al6,i3s. 1306 531 $129418t 1416;689 ,
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Fund:BaI4EndofYear . t., 4$376;133 *, L$308531 &:'i$129,418,t.'* ,$416;689> ° 1$1;216;616;
DRAFT
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