HomeMy WebLinkAbout2007 11 13 Regular 603 General Fund Appropriation
COMMISSION AGENDA
ITEM 603
Consent
Information
Public Hearinl!
Rel!ular X
Nb\\~C( ( ~
Oct~, 2007
S f <:t.4-t \ Meeting
MGR ~EPT.
Authorization
REQUEST: The City Manager is requesting that the City Commission make budget
determinations regarding the General Fund's $330,495 budgeted appropriation to fund
balance for the fiscal year 2007-2008 as well as the $3,271,605 General Fund designation
for non-recurring special capital projects for Fiscal Year 2007-2008.
PURPOSE: The purpose of this agenda item is to have the Commission make budget
determinations regarding the General Fund's $330,495 budgeted appropriation to fund balance
for the fiscal year 2007-2008. Also up for discussion, is the $3,271,605 that has been earmarked
for non-recurring special capital projects.
CONSIDERATIONS:
The 2007-2008 final budget that was adopted by Resolution 2007-44 on September 24, 2007
(Public Hearing 501) included a General Fund appropriation TO fund balance of $330,495.
Furthermore, the adopted General Fund budget designated $3,271,605 of fund balance for non-
recurring special capital projects. Attachment A reflects these and other key fiscal indicators
relative to the General Fund.
Attachment B represents a list of considerations for both the $330,495 General Fund
appropriation and the unspecified capital project designation of $3,271 ,605.
RECOMMENDATION:
· Because further tax reform legislation is an unknown variable, it is recommended that any
decisions to increase the City's recurring operating costs be done so with fiscal conservatism.
· It is my recommendation that the Planner for the Community Development department be the
highest priority item for recurring expenses.
· It is recommended that the $3,271,605 capital projects reserve be reserved for projects that
we would not want to take to referendum.
102207_ COMM _Regular _603 _2007 -2008_ Budget_ Considerations.doc
IMPLEMENTATION SCHEDULE:
Upon approval, the Fiscal Year 2007-2008 budget would be revised to reflect the Commission's
directives.
ATT ACHMENTS:
· A - General Fund Fiscal Policy Test - Fiscal Year 2007-2008
· B - Budget Considerations
COMMISSION ACTION:
102207_ COMM _Regular _603_2007 -2008 _ Budget_ Considerations. doc
Regular 603; October 22, 2007
Attachment A - General Fund Fiscal Policy Test - FY 2007-2008 Budget
OPERATING COVERAGE
Recurrinq Revenue
$21,391,890
Total Expenditures
LESS:
Capital Expenditures
$21,652,406
Recurrinq Personal and Operatinq Expenditures
($735,055)
$20,917,351 ($20,917,351)
Effect on Fund Balance - OPERATING COVERAGE
$474,539
CAPITAL COVERAGE
Non-recurring Revenue
$591,011
LESS:
Capital Expenditures
($735,055)
($144,044)
Effect on Fund Balance - CAPITAL COVERAGE
TOTAL EFFECT ON FUND BALANCE
$330,495
FUND BALANCE
Proiected Beqinninq Fund Balance
$8,170,448
FY 08 Appropriation TO (FROM) Fund Balance
$330,495
Proiected Endinq Fund Balance
$8,500,943
Ending Fund Balance Designations:
90-day / 25% Operating Reserve
Non-recurring Special Capital Projects
$5,229,338
$3,271.605
$8,500,943
Minimum fund balance target
(25% of recurring personal and operating expenditures): $5,229,338
102207_ Comm_Regular_603_Attachment_A
Regular 603; October 22, 2007
Attachment B - Budget Considerations
John Deere turf surround mower
Economic Development Seed Money
Televised Commission Meetings -
minumum capital outlay based on Option 1 from
Regular 600, May 29, 2007; other options up to
$207,000
Compression
Pay plan ranges - 5% increase
Fully man Station 28 - (8) Firemen
Community Development Planner $65K
less $15K consulting, plus misc start-up
Budget / Assessment Administrator
TBD
TBD
* does not include effect of Compression and Pay Plan Range issues
Available to Appropriate for Non-Recurring Capital $3,271,605
$ 2,000,00
Street Resurfacing (5 yrs behind) $1,200,00 n/a
Housing Redevelopment $2,000,00 n/a
Town Center Trail $1,200,00 n/a
City Hall Expansion $1,000,00 n/a
Community Center $2,000,00
Community Pool $3,500,00
Athletic Center $9,300,00
$400,00
102207_ Comm_Regular_603_Attachment_B