Presentation FY 2015-16 MID YEAR
FY 2015/16 MID -YEAR BUDGET PERFORMANCE
Town Council Meeting
3/1/2016
Purpose of FY 2015/16 Mid -Year Report
Fiscal Status
Strong Fiscal Internal Controls in Place
Fiscally Prudent
Fiscally Sound
PURPOSE & FISCAL STATUS
Property Tax Increase $1.1m
Transient Occupancy Tax Increase $300K
Licenses and Permits Increase $91K
Business License Tax Increase $50K
State Mandated Cost Reimbursement Increase
$50K
Sales Tax Decrease $210K
$1.7 MILLION GENERAL FUND REVENUE
ADJUSTMENTS
R
E
V
E
N
U
E
A
D
J
U
S
T
M
E
N
T
S
Recruitment Services & Medical Examinations
$55k
Pay Ahead Software Maintenance Services $49K
Cut -Through Traffic Expenses $45K
Downtown Waste and Collection Recycling Services
$40K
West Valley Clean Water Program $40K
Net $1 Million General Fund
Revenue Increases Above
Expenditure Increases
$700,000 GENERAL FUND EXPENDITURE
ADJUSTMENTS
E
X
P
E
N
D
I
T
U
R
E
A
D
J
U
S
T
M
E
N
T
S
Pilot a Town -Wide Hire -Ahead
Program within Existing Budget
up to 3 FTE
Cross Train to Provide Seamless
Service Delivery
Reduce Delay Filling Position
HIRE -AHEAD AUTHORITY P
I
L
O
T
H
I
R
E
-
A
H
E
A
D
A
U
T
H
O
R
I
T
Y
OUTLOOK
F
I
V
E
-Y
E
A
R
F
O
R
E
C
A
S
T
FY 2015/16
Estimated
FY 2016/17
Forecast
FY 2017/18
Forecast
FY 2018/19
Forecast
FY 2019/20
Forecast
FY 2020/21
Forecast
$1.1 $0.7 $0.9 $1.2 $1.5 $2.2
NET REVENUES ABOVE EXPENDITURES (In Millions)
RECOMMENDATIONS
Receive FY 2015/16 Mid -Year Budget Performance and
Status Report, Including FY 2015/16 Year -End Projections
Consider Authorizing Recommended Budget Adjustment
as Outlined in the Second Quarter Budget Performance
Report
Approve Town -Wide Hire -Ahead Authority
Receive the Town’s Five -Year Financial Projection for FY
2016/17 to FY 2020/21