Agenda Information Sheet
DEPARTMENT: Finance
ACM: Bryan Langley
Date: September 20, 2016
SUBJECT
Title
Receive a report; hold a discussion, and give staff direction regarding the FY 2016-17 City Manager’s Proposed Budget, Capital Improvement Program, and Five-Year Financial Forecast.
Body
BACKGROUND
The FY 2016-17 City Manager’s Proposed Budget was submitted to the Council on July 29, 2016. Staff provided the City Council with a comprehensive overview of the proposed budget at a Budget Work Session on August 4, 2016. In addition, the City Council held work sessions on the proposed budget on August 9, August 16, August 23, and September 13, 2016. During these meetings, the City Council asked a number of questions and requested a variety of information concerning the proposed budget. The purpose of this agenda item is to provide the City Council with the changes that have been made to the proposed budget that is being presented to the City council for consideration at the meeting on September 20, 2016.
The following summarizes the City Council recommended changes that have been included in the budgetary ordinances presented for consideration on September 20, 2016.
Property Tax Rate
• Total Tax Rate of $0.68225 a reduction of $0.0075 (3/4 cent) from the prior year tax rate of $0.68975
General Fund
City Manager’s FY 2016-17 Proposed Expenditures $114,503,492
• Increase Parks Foundation Funding to $77,000 $ 42,000
• Historic Preservation Plan (one-time) $ 60,000
• Reduce Travel and Training $ (100,000)
• Remove Plans Examiner Supplemental Package $ (69,412)
• Remove Paving Markings Supplemental Package $ (95,850)
• Reduce Council Contingency Funding $ (6,300)
Revised General Fund FY 2016-17 Expenditures $114,333,930
City Manager’s FY 2016-17 Proposed Revenues $114,511,663
• Reduce Tax rate by an additional ¼ cent $ (227,938)
• Increase Disabled Exemption to $50,000 $ (48,427)
Revised General Fund FY 2016-17 Revenues $114,235,298
City Manager’s FY 2015-16 Proposed Additional Expenditures $ 1,224,784
• Replace Emergency Services Grant Funding (one-time) $ 200,000
• Breathing Air Compressor for Fire (one-time) $ 45,000
• Parking Lot Fencing for Police (one-time) $ 90,000
• Cemetery Assessment for Parks (one-time) $ 152,596
Revised General Fund FY 2015-16 Additional Expenditures $ 1,712,380
Other Fund Changes
• $ 207,000 for a portion of Downtown Sidewalk Improvements added to the Downtown TIRZ Fund
• $ 307,726 removed from the Traffic Safety Fund due to the elimination of the Pavement Markings Supplemental Package
I look forward to discussing the budget materials in detail with you. If you have any questions, or need additional information, please let me know.
STRATEGIC PLAN RELATIONSHIP
The City of Denton’s Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Organizational Excellence
Related Goal: 1.1 Manage financial resources in a responsible manner
Respectfully submitted:
Chuck Springer, 349-8260
Director of Finance