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Item 6LIREW CITY OF SQUTHLAKE MEMORANDUM August 28, 2013 TO: Shana Yelverton, City Manager FROM: Sharen Jackson, Chief Financial Officer SUBJECT: Approval of amended Fiscal Year 2013 Southlake Crime Control and Prevention District Operating Budget and adoption of Fiscal Year 2014 Operating Budget Action Requested: Approval of amended Fiscal Year 2013 Southlake Crime Control and Prevention District Operating Budget and adoption of Fiscal Year 2014 Operating Budget. Background Information: Your packet contains the operating budget adopted by the Crime Control and Prevention District Board of Directors on August 6, 2013. The proposed operating budget provides for the continuation of the Town Square security initiative ($35,000). New request for FY 2014 include the following: • SRO program expansion (personnel and equipment) $ 627,477 • Patrol rifles and accessories $ 33,575 • Patrol TASER's $ 14,469 • Bike team equipment enhancements $ 7,188 • Town Square security camera upgrade/expansion $ 53,443 Total funding requested for FY 2014 CCPD operating fund for operations is $836,099 and transfers out of $5,245,275 for CCPD debt service requirements ($4,019,135), indirect charges ($226,140) and cash funding for North DPS construction cost ($1,000,000). Financial Considerations: The proposed operating budget includes projected sales tax and interest income of $5,653,500. $836,099 for operating expenditures, transfers out of $5,245,275. Strategic Link: Cl: Achieve the highest standards of safety and security. B2: Collaborate with select partners to implement service solutions. B6: Optimize the use of technology. F2: Invest to provide and maintain high quality public assets. Citizen Input/ Board Review: A Public Hearing is scheduled for September 3, 2013. Legal Review: None required. Alternatives: Approve or reject the budgets submitted Supporting Documents: CCPD FY 2014 Operating Budget Staff Recommendation: Approval of CCPD FY 2014 Operating SOUTHLAKE CRIME CONTROL AND PREVENTION DISTRICT - OPERATING FUND REVENUES Sales Tax Miscellaneous Income Interest Income Total Revenues EXPENDITURES Personnel Operations Capital Total Expenditures Net Revenues Transfers In-SPDC Transfers Out -General Fund /Debt service Transfers Out -Crime Control Project Fund Total Other Sources (Uses) Beginning Fund Balance Ending Fund Balance FY2014 Proposed Budget 05:01 PM October 1, 2013 through September 30, 2014 08/28n3 2012 Actual 2013 Adopted 2013 Amended $ Increase/ (Decrease) Adopted % Increase/ -Decrease 2014 Proposed $ Increase/ (Decrease) Adopted % Increase/ -Decrease S4,724,779 S4,950,000 $5,500,000 $550,000 11.1% $5,650,000 $700,000 14.1% 0 0 0 $0 0.0% $0 ($0) 0.0% S1,053 S13,500 3,500 10 000 -74.1 % $3,500 10 000 -74.1 $5,503,500 $4,725,832 $4,963,500 $540,000 10.9% $5,653,500 $690,000 13.9% $29,753 $50,530 $156,341 $105,811 209.4% $584,407 $533,877 1056.6% $214,832 $34,000 $102,949 68,949 202.8% $251,692 217,692 640.3% L0 $981,725 $981,725 0 0.0% L0 98( 1,725) -100.0% $244,585 $1,066,255 $1,241,015 $174,760 16.4% $836,099 ($230,156) -21.6% $4,481,247 $3,897,245 $4,262,485 $365,240 $4,817,401 $920,156 $0 $0 $0 $0 (2,149,600) (2,176,740) (2,176,740) (4,245,275) (4,000,000) (3,000,000) (3,000,000) (1,000,000) (6,149,600) (5,176,740) (5,176,740) (5,245,275) $6,830,797 $5,162,444 $5,162,444 $3,882,949 $5,162,444 $4,248,189 $4,248,189 $3,820,315 (Reference to Section 363.203, Local Government Code, Annual Budget Proposal.) 1. Outstanding obligations of the District are the repayment of Certificates of Obligations issued in May 2009, May 2010 and April 2013 in the amount of $2,740,000 $1,618,100 and $8,185,485 with a FY 2014 debt service payment of $4,019,135. The certificates of obligations will be paid off in FY 2015, FY 2016 and FY 2017, respectively. 2. There is $4,248,189 in the Operating Fund and $442,483 in the Capital Projects Fund estimated to be on hand as of the beginning of FY 2014 3. An estimated $5,650,000 is expected to be received by the District during FY2014 in sales tax revenues. 4. Total revenue is estimated at $5,653,500 consisting of sales tax and interest income. 5. Total money requested to fund programs is $836,099 for personnel, equipment and security initiatives. 6. Total transfers of $4,245,275 requested for repayment of outstanding debt obligation and indirect charge. 7. The sales tax rate is .5%. 8. There is $3,820,315 in the Operating Fund estimated to be on hand as of the end of FY2014 9. Total revenues available to cover the proposed budget are $5,653,500.