2009101911 PresentationFY 2009/10 First Quarter Budget Review Budget Performance & Status Report (For 1st Quarter ending Sep. 30, 2009) Outline FY 2008/09 Results Current Year Status – Revenue Trends
State Budget Update Recommended Budget Adjustments Looking Ahead FY 2008/09 Fiscal Results Established a Designated Reserve for Post Retirement Benefits $400K General Fund Total
Reserve $22.7M Revenue Stabilization and Capital Improvements $525K available Revenues Property Tax Favorable - $500K Sales Tax Trending Lower - $500K Charges for Services
On Track with FY2009/10 Budget Estimates State Budget Update Property Tax Prop 1A Securitization – Approximately $980K Anticipated RDA takes $2.3M FY2009/10 $400K FY 2010/11 COPS
$200K Mandated Cost Reimbursement $50K Key Budget Adjustments Prospect Avenue Resurfacing $102K from American Recovery and Reinvestment Acts Mitchell Avenue Sidewalks $28K from Transportation
Development Act Blossom Hill/ University Intersection Utility Undergrounding $23K Next Steps FY 2010/11 Budget Development Assessment of Current and Future Opportunities and Challenges
Update of Five-Year Forecast Exploration of Budget Balancing Strategies Limited Service Level Reductions Cost Recovery/Revenue Enhancements Organizational Restructuring Questions
& Discussion Small Town Service ~ Community Stewardship ~ Future Focus Small Town Service ~ Community Stewardship ~ Future Focus Greg Larson, Town Manager Steve Conway, Finance
Director February 19, 2009
FY 2009/10 First Quarter Budget Review Budget Performance & Status Report (For 1st Quarter ending Sep. 30, 2009) Outline FY 2008/09 Results Current Year Status – Revenue Trends
State Budget Update Recommended Budget Adjustments Looking Ahead FY 2008/09 Fiscal Results Established a Designated Reserve for Post Retirement Benefits $400K General Fund Total
Reserve $22.7M Revenue Stabilization and Capital Improvements $525K available Revenues Property Tax Favorable - $500K Sales Tax Trending Lower - $500K Charges for Services
On Track with FY2009/10 Budget Estimates State Budget Update Property Tax Prop 1A Securitization – Approximately $980K Anticipated RDA takes $2.3M FY2009/10 $400K FY 2010/11 COPS
$200K Mandated Cost Reimbursement $50K Key Budget Adjustments Prospect Avenue Resurfacing $102K from American Recovery and Reinvestment Acts Mitchell Avenue Sidewalks $28K from Transportation
Development Act Blossom Hill/ University Intersection Utility Undergrounding $23K Next Steps FY 2010/11 Budget Development Assessment of Current and Future Opportunities and Challenges
Update of Five-Year Forecast Exploration of Budget Balancing Strategies Limited Service Level Reductions Cost Recovery/Revenue Enhancements Organizational Restructuring Assessment
of Current and Future Opportunities and Challenges Questions & Discussion Small Town Service ~ Community Stewardship ~ Future Focus Small Town Service ~ Community Stewardship
~ Future Focus Greg Larson, Town Manager Steve Conway, Finance Director February 19, 2009