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Item 6C and 6DPublic Trust FY 2010 Proposed Budget Adopt FY 2010 Budget Amend FY 2009 Budget Levy Tax Rate Tonight’s Action Budget Review Process Date Item Issue(s) April 21, 2009 FY 2009 Mid Year Budget Review FY 2009 amendments Various “State of the City” presentations to CC members Financial Condition Departmental Updates June 23, 2009 June Retreat 2009 Financial Report / CIP Priorities 2010 Economic Outlook Budget 101 Safety Strategies (Red Light Camera) Various Checkpoint #1: Revenue Projections Revenue sources/strategies August 3, 2009 Checkpoint #2: Joint Park Board/SPDC/CC Mtg. Capital project priorities August 10, 2009 Joint Park Board/SPDC SPDC Operating Budget/CIP August 18, 2009 City Council Worksession Overview/Strategic Investiment September 1, 2009 Crime Control & Prevention District Board CCPD Operating Budget/CIP September 1, 2009 City Council (1st Reading) Financial Condition / Multi Year /CIP September 8, 2009 SPIN Standing Committee Overview/Strategic Investment September 15, 2009 City Council (2nd Reading) Final Review $68 Million Supports ~ Strategic Management System Investments ~ ► Community ►Neighborhoods ► Workforce ► Core Services Promotes ~ Good fiscal health $.462 Steady for seventh straight year $.332 (operations) $.130 (debt) 1. COUNCIL ADOPTION 2. Departmental Business Plans 3. Perform Request Approval FY 2009 Amended Budget FY 2010 Proposed Budget FY 2010 Tax Rate * Mayor, Members of the City Council, Tonight is the last step in our budget journey. Your agenda includes two items that require your consideration, and we want to make sure that you have all of the information needed to approve those items this evening. * I will be discussing two items with you as part of this presentation: *Adopting the budget *Setting the tax rate Both of these items requires and Public Hearing. And, each requires your adoption this evening. * As we have discussed with you throughout this process, the proposed budget is a $68 million dollar budget, and includes plans for the General Fund, the Utility Fund, the Stormwater Utility Fund, the Crime Control and Prevention District, and other special revenue funds. It also provides for debt service payments on our bonds. It is a structurally balanced budget. * The proposed FY 2010 budget supports the priorities outlined in the city’s strategic management system. As you noticed when you went through the materials we gave you, every initiative is tied to an objective on the city’s strategy map. The budget is completely aligned with our SMS. This means that we will be working hard in the coming fiscal year to provide for Southlake’s safety and security, mobility, needed infrastructure, and quality development. We will do these things while emphasizing outstanding performance and service delivery. And the budget emphasizes our use of partners and volunteers to get the job done. * This budget provides for strategic investments in our community, in our neighborhoods, in our workforce, and in our core services. We have included funds for Street, Water, Sewer, Drainage improvements and sidewalks. We will continue to pursue our funding of neighborhood parks. These investments will be made based on the feedback that we have received through our citizen survey and through your input. Our workforce is another area of investment, and being a service organization dependent upon staff to get the job done, this is critical. The city’s expenses are largely related to personnel. In fact, over 65% of our expenses are related to our workforce. Because of this, workforce investments are naturally impacted in tough times. We have done a good job of balancing the situation. Finally, we are continuing our investment in technology, facilities and fleet to ensure that our core services are adequately funded. * All of these things are accomplished with this budget, with an eye to our fiscal health. We recently briefed you on some of our initiatives to ensure that we manage our finances in such a way that ensures our fiscal health into the future, including spending within our means, effectively managing our reserves, understanding the variances in our budget, understanding the true cost of doing business, and long-term planning strategies. This city is in excellent financial condition and this budget supports our philosophy in this regard. * For the seventh straight year, we are maintaining the tax rate at $.462 per hundred dollar valuation. As you will note on the slide, the tax rate is split between general operations and debt service. This rate is adequate to fund the services and capital projects needed in a growing city. * So what is next? We are asking you to adopt the budget and tax rate. Once the Council does so, the departments will finalize their departmental business plans to reflect the resource allocation provided. Then it will be up to us to perform, by completing the projects you have funded. * We respectfully request your approval of the FY 2010 budget (which finalizes the FY 2009 budget and provides final authority for the FY 2010 proposed budget). We also ask that you formally approve the FY 2010 tax rate. With that, I’ll be happy to answer any questions you may have. * Mayor, Members of the City Council, Tonight is the last step in our budget journey. Your agenda includes two items that require your consideration, and we want to make sure that you have all of the information needed to approve those items this evening. * I will be discussing two items with you as part of this presentation: *Adopting the budget *Setting the tax rate Both of these items requires and Public Hearing. And, each requires your adoption this evening. * As we have discussed with you throughout this process, the proposed budget is a $68 million dollar budget, and includes plans for the General Fund, the Utility Fund, the Stormwater Utility Fund, the Crime Control and Prevention District, and other special revenue funds. It also provides for debt service payments on our bonds. It is a structurally balanced budget. * The proposed FY 2010 budget supports the priorities outlined in the city’s strategic management system. As you noticed when you went through the materials we gave you, every initiative is tied to an objective on the city’s strategy map. The budget is completely aligned with our SMS. This means that we will be working hard in the coming fiscal year to provide for Southlake’s safety and security, mobility, needed infrastructure, and quality development. We will do these things while emphasizing outstanding performance and service delivery. And the budget emphasizes our use of partners and volunteers to get the job done. * This budget provides for strategic investments in our community, in our neighborhoods, in our workforce, and in our core services. We have included funds for Street, Water, Sewer, Drainage improvements and sidewalks. We will continue to pursue our funding of neighborhood parks. These investments will be made based on the feedback that we have received through our citizen survey and through your input. Our workforce is another area of investment, and being a service organization dependent upon staff to get the job done, this is critical. The city’s expenses are largely related to personnel. In fact, over 65% of our expenses are related to our workforce. Because of this, workforce investments are naturally impacted in tough times. We have done a good job of balancing the situation. Finally, we are continuing our investment in technology, facilities and fleet to ensure that our core services are adequately funded. * All of these things are accomplished with this budget, with an eye to our fiscal health. We recently briefed you on some of our initiatives to ensure that we manage our finances in such a way that ensures our fiscal health into the future, including spending within our means, effectively managing our reserves, understanding the variances in our budget, understanding the true cost of doing business, and long-term planning strategies. This city is in excellent financial condition and this budget supports our philosophy in this regard. * For the seventh straight year, we are maintaining the tax rate at $.462 per hundred dollar valuation. As you will note on the slide, the tax rate is split between general operations and debt service. This rate is adequate to fund the services and capital projects needed in a growing city. * So what is next? We are asking you to adopt the budget and tax rate. Once the Council does so, the departments will finalize their departmental business plans to reflect the resource allocation provided. Then it will be up to us to perform, by completing the projects you have funded. * We respectfully request your approval of the FY 2010 budget (which finalizes the FY 2009 budget and provides final authority for the FY 2010 proposed budget). We also ask that you formally approve the FY 2010 tax rate. With that, I’ll be happy to answer any questions you may have.