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CITY OF COTTONWOOD FY 2015 Proposed Budget Overview

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FY 2015 Proposed Budget Overview City Council Chambers May 27, ... Arizona State Retirement System ADWR Arizona Department of Water Resources AZ ... – PowerPoint PPT presentation

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Title: CITY OF COTTONWOOD FY 2015 Proposed Budget Overview


1
CITY OF COTTONWOODFY 2015 Proposed Budget
Overview
  • City Council Chambers May 27, 2014 _at_ 600 P.M.

2
Topics of discussion
  • Glossary of Acronyms
  • FY 2015 Budget Summary
  • Personnel
  • Capital Outlay lt35K
  • Capital Outlay 35K
  • Major Revenues Update
  • Funding Outside Agencies
  • Water Wastewater Rates
  • Financing Needs
  • Reserve Funds Status
  • Future Meetings Questions

2
3
Glossary of Acronyms
4
Glossary of Acronyms
  • ADOT Arizona Department of Transportation
  • ASRS Arizona State Retirement System
  • ADWR Arizona Department of Water Resources
  • AZ - Arizona
  • CAF Capital Accumulation Fund
  • CATS Cottonwood Area Transit System
  • CDBG Community Development Block Grant
  • CIP Capital Improvements Plan/Program
  • COLA Cost Of Living Adjustment
  • DOJ Department of Justice
  • DPS Department of Public Safety
  • DS Debt Service
  • DUI Driving Under the Influence

5
Glossary of Acronyms
  • E-MOD Experience Modifier
  • EMS Emergency Medical Services
  • FAA Federal Aviation Administration
  • FmHA Farmers Home Administration
  • FY Fiscal Year
  • GADA Greater Arizona Development Authority
  • GF - General Fund
  • GOHS Governors Office of Highway Safety
  • HURF Highway User Revenue Fund
  • IGA Inter-Governmental Agreement
  • IT Information Technology
  • LP Lease Purchase
  • LTAF Local Transportation Assistance Fund
  • MPC Municipal Property Corporation

6
Glossary of Acronyms
  • NACOG Northern AZ Council of Governments
  • OM Operation Maintenance
  • PZ Planning Zoning
  • PANT Prescott Area Narcotics Taskforce
  • PSPRS Public Safety Personnel Retirement System
  • SAFER Staffing for Adequate Fire and Emergency
    Response
  • SCBA Self Contained Breathing Apparatus
  • SRO School Resource Officer
  • VLT Vehicle License Tax
  • WIFA Water Infrastructure Finance Authority
  • WWTP Wastewater Treatment Plant
  • YC Yavapai County

7
FY 2015 Budget Summary
7
8
2015 Budget SummaryThe budget process
  • Base budget submission - ????
  • Meet with GMs and Department Managers
  • Trim down the base budget
  • 1st Round of budget meetings- 109,000
  • Before Capital and Personnel
  • Operating Maintenance only
  • After meeting with City Manager (1,000,000)
  • Added personnel, reclassification, capital
  • Still operational base budget
  • Asked all departments to cut up to 6 off their
    budgets
  • Staffing
  • Capital outlay
  • Maintenance operations
  • Current budget - Balanced

8
9
2015 Budget SummaryNew Personnel Requests
9
10
2015 Budget SummaryNew Personnel Budgeted
Safety Training Specialist only if we get other
communities to help fund Electrician reduce the
high amount of overtime currently being used by
Charlie Transit Driver ADOT grant funded,
eliminated 13K from part-time drivers Administrat
ive Assistant requested by auditors to improve
internal controls
10
11
2015 Budget SummaryPersonnel Reclassifications
The Drafter/Designer takes on much of the
engineering design, drafting and review work for
the entire City saving the city the substantial
cost of having a consultant perform these services
11
12
2015 Budget SummaryPart-time Personnel Budgeted
This positions to be available if grant funding
is obtained through NACOG or other source
12
13
2015 Budget SummaryPersonnel
  • Status of Employee Benefits
  • Cost Of Living Adjustment (COLA) 1.5
  • Merit program fully funded this fiscal year
  • Longevity is not funded but will review in
    November 2014

13
14
2015 Budget SummaryPersonnel
  • Health insurance premiums increased by 9.0
  • City continues to fund a portion of dependent
    coverage
  • No health insurance cost shift to employees
  • Reserve the right to adjust during the year

14
15
2015 Budget SummaryPersonnel
- City no longer provides Core Plus Plan - All
plans include basic life insurance coverage -
City contributes 168 and 215 to the 1500
2500 HDHP, respectively
15
16
2015 Budget SummaryPersonnel
  • ASRS 11.54 to 11.60
  • PSPRS Fire 16.81 to 16.20
  • PSPRS Police 29.88 to 29.83

16
17
FY 2015 Capital Outlay lt35K
17
18
2015 Budget Summary lt35K Capital Outlay
18
19
2015 Budget Summary lt35K Capital Outlay
19
20
2015 Budget Summary lt35K Capital Outlay
20
21
2015 Budget Summary lt35K Capital Outlay
21
22
2015 Budget Summary lt35K Capital Outlay
22
23
FY 2015 Capital Outlay 35K
23
24
2015 Budget Summary 35K Capital Outlay
24
25
2015 Budget Summary 35K Capital Outlay
25
26
2015 Budget Summary 35K Capital Outlay
26
27
2015 Budget Summary 35K Capital Outlay
27
28
Major revenues update
28
29
2015 Budget Summary
29
30
2015 Budget Summary
  • The Good
  • Current GF reserve policies are being maintained
  • Local economy showing continued signs of
    improvement
  • Local sales tax is budgeted for an increase of
    4.5
  • The Bad
  • Two budget rounds with GMs and Department
    Managers (1M deficit)
  • Fund Balance Policy not being followed in other
    funds
  • Costs growing faster than revenues
  • Many expensive projects in the works
  • Lack of additional revenue sources
  • Too many demands on the City for support
  • Outside agencies
  • Schools
  • County

30
31
Funding Outside Agencies
31
32
Funding Outside Agencies
  • Core Services organizations providing a core or
    mandatory service on behalf of the City, that the
    City would otherwise have to provide.
  • Value Added Benefit Service organizations
    providing an ongoing service that provides a
    value added benefit to the community, though not
    mandatory, would probably be provided by the City
    in some manner.
  • Program Funding organizations, not considered
    providing the services described above, seeking
    funding for a specific program, or event.
  • Building Better Community Grants - 15,000 is
    budgeted

32
33
Funding Outside Agencies
Organization FY 2014 FY 2015
Old Town Association 15,000 10,000
Senior Center 55,000 55,000
Humane Society 44,320 43,880
Catholic Charities 15,000 15,000
Chamber of Commerce Estimate 108,000 Proposed 110,000
Old Town Center for Arts 20,000 20,000
Boys Girls Club 0 0
These organizations will be presenting on Tuesday
June 10th prior to wrap-up.
33
34
Water Wastewater Rates
34
35
Water Wastewater Rates
  • There is still a strong need for rate adjustments
  • Water needs to maintain Debt Service Coverage
    Should be 1.35X
  • Continue to look for efficiencies in both systems
  • Moodys SP statements are on-line
  • Moodys downgraded Cottonwood May 11, 2011
  • SP downgraded Cottonwood June 12, 2013
  • Rate Study presentation is planned on July 1st
  • Notice of Intent to Increase will be presented
    at that time
  • Any implementation is anticipated by October 1st

35
36
Financing Needs
36
37
Financing Needs
  • We are moving forward with financing in FY 2015
  • Refunding of the 2004 Water Bonds is planned for
    the November 2014 when they become callable


37
38
Reserve Funds Status
38
39
GF Reserve Funds Status
  • 60 Days Coverage 2,539,900
  • Capital Accumulation Fund 1,000,000
  • Undesignated Reserves (this is our only cushion)
    100,000
  • 1 Sales Tax GF Capital 0
  • 0.2 Sales Tax PS Capital Fund
    0
  • Longevity Plan 0

39
40
Future Meetings
  • Thursday, May 29th at 6 p.m.
  • Thursday, June 5th at 600 p.m.
  • Tuesday, June 10th at 600 p.m. (backup date)

Questions????
40
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