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City Council |
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Agenda Request |
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Agenda Of: |
January 2, 2008 |
Agenda Request No: |
IV A |
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Initiated By: |
Jennifer Brown Assistant Fiscal Services Director |
Responsible Department: |
Fiscal Services |
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Presented By: |
Linda Symank Director of Fiscal Services |
Department Head: |
Director of Fiscal Services |
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Additional Department. Head (s): |
n/a |
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Subject / Proceeding: |
Fiscal Year 2006/07 Carryovers Approval of Fiscal Year 2007/08 Budget Adjustment of $88,439 in
Revenues and $1,572,742 in Expenditures |
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Exhibits: |
Summary of requested Funding by Fund |
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Clearances |
Approval |
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Legal: |
n/a |
Executive Director: |
n/a |
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Purchasing: |
n/a |
Asst. City Manager: |
Karen Daly |
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Budget: |
jennifer Brown Assistant Fiscal Services Director |
City Manager: |
Allen Bogard |
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Budget |
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Expenditure Required: $ |
n/a |
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Amount Budgeted/Reallocation: $ |
n/a |
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Additional Appropriation: $ |
88,439 in revenues 1,572,742 in expenditures (All Funds) |
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Recommended Action |
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Consideration and approval of a fiscal year 2007/08 budget adjustment in the amount of $88,439 in revenues and $1,572,742 in expenditures for carryover items from the fiscal year 2006/07 budget. |
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Executive Summary |
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The City’s fiscal year ended September 30,
2007. At that time there were
contracts, capital purchases, and other items that were approved and budgeted
in fiscal year 2006/07, but the actual expenditures were not made during the
fiscal year. In order to accomplish these
projects, the budget for these carryover items needs to be reestablished in
fiscal year 2007/08. Un-audited numbers for fiscal year 2006/07
show City funds ending on a positive note, most with higher ending balances
than projected. The un-audited
fund balance of the General Fund at September 30, 2007 of $20,183,288 is $2.77
million higher than the budgeted ending balance. This is due to expenditure savings, of
which $2.2 million is non-personnel savings. The General Fund carryover request totals $660,862
in expenditures. Major items in the carryover
include wireless video feed to patrol cars, police interactive training
system, review of development codes, funds for the grand opening of Sugar
Land Memorial Park, an operational review of Accounting, a grant for
lead-based paint abatement, and other non-recurring projects which were in
progress but not complete at year-end.
If the budget is adjusted for the
recommended carryovers, there will still be approximately $2,112,615 in
available funding in the General Fund.
We would propose that the $2.1 million in savings be considered for
two purposes. The first purpose would
be for current CIP projects. We are
currently seeing a sharp increase in construction costs and are experiencing
shortfalls in our construction estimates.
These funds could help address potential project shortfalls and
secondly, the savings could be used to safeguard the City’s revenue stream in
the event that sales tax collections come in less than budgeted. In the last two months, sales tax has come
in under budget, largely due to one-time adjustments. The $2.1 million, when combined with the
existing fund balance, is $2.8 million in excess of the policy requirements
for the General Fund. The Utility Enterprise Fund has an ending
cash equivalent balance of $4,057,245, which is $283,825 less than the
budgeted ending balance. This is
largely due to lower than anticipated revenues in the fund. Operational savings totals $689,363 in the
fund, of which we are requesting to carry over $69,734. Cash equivalents after the carryover will be
$3,987,511, which is higher than the minimum 25% specified by policy. The Airport Enterprise fund ended the year
with a balance of $2,188,716. This is
$373,862 higher than budgeted, largely due to operational savings. Carryover funding for the airport consists of
funds for equipment replacement, RAMP grant projects and grant reimbursement,
and various projects in progress but not completed at year end. The Capital Projects are budgeted for the duration of the project and any
funding for projects in progress at year-end automatically carry over so they
are not included in the totals given. |
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Exhibits |
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Fund |
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Ending Balance |
Revenues |
Expenditures |
Revised Balance |
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Court Technology |
115,232 |
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37,425 |
77,807 |
1 |
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Tourism |
1,054,338 |
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195,206 |
859,133 |
2 |
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CDBG |
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67,804 |
67,804 |
(0) |
3 |
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Tech Replacement |
1,382,118 |
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15,870 |
1,366,248 |
4 |
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Fleet Replacement |
1,330,546 |
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52,450 |
1,278,096 |
5 |
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General |
20,183,288 |
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19,522,426 |
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Gen Govt |
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268,456 |
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6 |
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Business & IG |
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39,663 |
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7 |
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Fiscal Services |
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14,810 |
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Support Services |
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7,545 |
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Parks |
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69,728 |
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8 |
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Community Dev |
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97,443 |
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9 |
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Police |
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151,545 |
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10 |
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Fire |
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11,672 |
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Drainage Fund |
245,498 |
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14,974 |
230,524 |
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Utility Fund |
4,057,245 |
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69,734 |
3,987,511 |
11 |
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Airport Fund |
2,188,716 |
20,635 |
120,779 |
2,088,571 |
12 |
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Law Enf Trust Fund |
4,189 |
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2,571 |
1,618 |
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State Seizure Fund |
2,977 |
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2,500 |
477 |
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88,439 |
1,240,175 |
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SL4B Carryovers |
9,227,937 |
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332,567 |
8,895,370 |
13 |
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1,572,742 |
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Significant items to note:
1) Court Technology Fund- Remaining implementation of IVR system
2) Tourism- Historic Preservation of Imperial Artifacts
3) CDBG- unspent funds from FY2006/07 can be allocated toward infrastructure project
4) Tech Replacement- Units ordered but not received at year-end
5) Fleet Replacement- Units ordered but not received at year-end
6) General Government- Accounting operational review, information technology projects, legal services in progress, deductibles for property insurance claims, employee development
7) Business & IG- Legislative consulting, lead based paint abatement
8) Parks- SL Memorial Park grand opening, park map, MYAC code of conduct, pool lift
9) Community Development- Development Code review, Zoning Board invested rights analysis, comprehensive plan brochure
10) Police- wireless video feed to patrol cars, IES interactive training system, handguns & ammunition, TCLEOSE training funds
11) Utility Fund- engineering services, OCE controller upgrade, emergency well repair
12) Airport- RAMP grant projects and equipment replacement funding
13) SL4B- Marketing and Economic Development projects considered by the SL4B Board Dec 19, 2007