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Item 6MC-ITY Or SOUTHLAKE MEMORANDUM August 28, 2014 TO: Shana Yelverton, City Manager FROM: Sharen Jackson, Chief Financial Officer SUBJECT: Approval of amended Fiscal Year 2014 Southlake Crime Control and Prevention District Operating Budget and adoption of Fiscal Year 2015 Operating Budget Action Requested: Approval of amended Fiscal Year 2014 Southlake Crime Control and Prevention District Operating Budget and adoption of Fiscal Year 2015 Operating Budget. Background Information: Your packet contains the operating budget adopted by the Crime Control and Prevention District Board of Directors on August 12, 2014. The proposed operating budget provides for the continuation of the Town Square security initiative ($43,050). New request for FY 2015 include the following: • SRO program expansion (personnel and equipment) $ 662,990 • Secure Digital Storage $ 18,000 Total funding requested for FY 2015 CCPD operating fund for operations is $724,040 and transfers out of $4,281,600 for CCPD debt service requirements ($4,017,900) and indirect charges ($263,700). Financial Considerations: The proposed operating budget includes projected sales tax and interest income of $6,592,000. $724,040 for operating expenditures, transfers out of $4,281, 600. 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. Citizen Input/ Board Review: A Public Hearing is scheduled for September 2, 2014. Legal Review: None required. Alternatives: Approve or reject the budgets submitted Supporting Documents: CCPD FY 2015 Operating Budget Staff Recommendation: Approval of CCPD FY 2015 Operating 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 SOUTHLAKE CRIME CONTROL AND PREVENTION DISTRICT - OPERATING FUND FY2015 Proposed Budget October 1, 2014 through September 30, 2015 04:12 PM 08/27n 4 2013 Actual 2014 Adopted 2014 Amended $ Increase/ (Decrease) Adopted % Increase/ -Decrease 2015 Proposed $ Increase/ (Decrease) Adopted % Increase/ -Decrease $5,571,464 $5,650,000 $6,400,000 $750,000 13.3% $6,592,000 $942,000 16.7% 0 0 0 $0 0.0 % $0 ($0) 0.0% 136 $3,500 500 3 000 -85.7 % 500 3 000 -85.7% $6,400,500 $5,571,600 $5,653,500 $747,000 13.2% $6,592,500 $939,000 16.6% $157,224 $584,407 $557,946 ($26,461) -4.5% $594,986 $10,579 1.8% $101,997 $251,692 $189,966 (61,726) -24.5% $111,054 (140,638) -55.9% 981 061 Lo �_o (1 -100.0% $18,000 18 000 179999900.0% $1,240,282 $836,099 $747,912 ($88,187) -10.5% $724,040 ($112,059) -13.4% $4,331,318 $4,817,401 $5,652,588 $835,187 $5,868,460 $1,051,059 $0 $0 $0 $0 (2,176,740) (4,245,275) (4,245,275) (4,281,600) (3,000,000) (1,000,000) (1,000,000) 0 (5,176,740) (5,245,275) (5,245,275) (4,281,600) $5,162,444 $4,317,022 $4,317,022 $3,889,148 $4,317,022 $4,724,335 $4,724,335 $6,311,195 (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 $1,400,000 $1,035,000 and $5,825,000 with a FY 2015 debt service payment of $4,017,900. The certificates of obligations will be paid off in FY 2015, FY 2016 and FY 2017, respectively. 2. There is $4,724,335 in the Operating Fund and $1,122,537 in the Capital Projects Fund estimated to be on hand as of the beginning of FY 2015 3. An estimated $6,592,000 is expected to be received by the District during FY2015 in sales tax revenues. 4. Total revenue is estimated at $6,592,500 consisting of sales tax and interest income. 5. Total money requested to fund programs is $724,040 for personnel, equipment and security initiatives. 6. Total transfers of $4,281,600 requested for repayment of outstanding debt obligation and indirect charge. 7. The sales tax rate is .5%. 8. There is $4,724,335 in the Operating Fund estimated to be on hand as of the end of FY2015 9. Total revenues available to cover the proposed budget are $6,592,500.