Presentation
FY 2016/17 OPERATING AND CAPITAL BUDGET &
FYs 2016/17 - 2020/21 CAPITAL IMPROVEMENT
PROGRAM
Town Council Meeting
5/17/2016
OUTLOOK
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NET REVENUE ABOVE EXPENDITURES ( in Millions)
FY 2015/16
Estimated
FY 2016/17
Forecasted
FY 2017/18
Forecasted
FY 2018/19
Forecasted
FY 2019/00
Forecasted
FY 2020/21
Forecasted
$1.6 $0.8 $0.6 $0.5 $0.6 $1.1
Proposed Increase
Property Tax Increase
Transient Occupancy Tax
Business License Tax
Franchise Fees
Proposed Decrease
Sales Tax
License and Permits
GENERAL FUND REVENUE TRENDS
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Key Principles:
Balance the Budget to maintain service
levels
Continue to make progress on Strategic
Priorities identified by the Town Council
Identify opportunities to enhance service
delivery through technology and open
government
PROPOSED FY 2016/17 BUDGET
Limited Increases
Non-Discretionary Items
Contractually Obligated
Mandated Increases
PROPOSED FY 2016/17 BUDGET
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2
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1
6
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1
7
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CIP Development Process
Council Core Goals and Strategic
Priorities
Current and scheduled projects
Priorities are matched to available
resources
Planning Commission review
PROPOSED FY 2016/17 - 2020/21 BUDGET
Proposed 5 -year CIP - $42.9 M
Proposed FY 2016/17 CIP - $27.9 M
Carryforward - $15.8 M
New Funding - $12.1 M
(including transfer in from Almond Grove
Reserve)
PROPOSED FY 201617 – 2020/21 CIP
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Ongoing Funding for Recurring
Capital Maintenance
Full Funding for Almond Grove
High Priority New Projects
Unfunded Needs
CIP HIGHLIGHTS
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RECOMMENDATIONS
Consider the FY 2016/17 Proposed Operating Budget FY
Consider the FY 2016/17 - 2020/21 Proposed CIP
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Proposed Funding Sources for Almond
Grove Street Rehabilitation Project
Current Project Balance $3,696,000
Almond Grove Reserve (Unallocated) $8,459,973
Total Almond Grove Reserve $12,155,973
Current Projects on Hold $2,104,700
Additional FY 2014/15 Savings to AG $1,000,000
Additional from GFAR $1,478,034
Total Estimated Funding Sources $16,741,707