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CITY OF COTTONWOOD City Council FY 2009 Budget Overview

CITY OF COTTONWOOD City Council FY 2009 Budget Overview. City Council Chambers June 24 & 25, 2008 – 6:00 p.m. ADOT – Arizona Department of Transportation ASRS – Arizona State Retirement System CAF – Capital Accumulation Fund CATS – Cottonwood Area Transit System

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CITY OF COTTONWOOD City Council FY 2009 Budget Overview

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  1. CITY OF COTTONWOODCity CouncilFY 2009 Budget Overview City Council Chambers June 24 & 25, 2008 – 6:00 p.m.

  2. ADOT – Arizona Department of Transportation ASRS – Arizona State Retirement System CAF – Capital Accumulation Fund CATS – Cottonwood Area Transit System CDBG – Community Development Block Grant CIP – Capital Improvements Plan/Program COLA – Cost Of Living Adjustment DS – Debt Service E-MOD – Experience Modifier FAA – Federal Aviation Administration FmHA – Farmers Home Administration FY – Fiscal Year GADA – Greater Arizona Development Authority GASB – Governmental Accounting Standards Board GF - General Fund GFOA – Government Finance Officers Association HURF – Highway User Revenue Fund IT – Information Technology LP – Lease Purchase M&O – Maintenance and Operations MPC – Municipal Property Corporation PSPRS – Public Safety Personnel Retirement System WIFA – Water Infrastructure Finance Authority WWTP – Wastewater Treatment Plant Glossary of Acronyms

  3. Building the Proposed Budget • Guidance • Governed by a multitude of State Statutes • Arizona League of Cities and Towns assistance – Municipal Budget & Finance Manual • Process (This is an evolving document) • Review Revenues & Projections • Review Expenditures & Estimates • Review the Reserve Levels • Prepare a Budget Calendar • Meetings! Meetings! Meetings! • Staffs • Department Heads • Administration • City Council • Goal - Balanced budget

  4. Budget Process - Calendar • Distribute Budget Worksheets & Instructions February 6, 2008 • Distribute Goals & Performance Measures Forms & Instructions February 11, 2008 • Distribute Personnel Request & Reclassification Forms February 11, 2008 • Capital Improvements Meeting (Finance & City Manager) February 26, 2008 • Budget Worksheets Due to Finance February 20, 2008 • Distribute CIP Schedules, Forms, & Instructions February 22, 2008 • Goals & Performance Measures due to Finance February 22, 2008 • Potential Budget Issues Meeting - City Manager February 26, 2008 • Goal Setting Meeting - City Manager February 29, 2008 • Capital Improvement Forms due back to Finance March 05, 2008

  5. Budget Process - Calendar • Council Annual Goal Setting Workshop March 12, 2008 • Review of 1st. Budget Draft with Finance & Administration March 17-21, 2008 • 1st. Round Departmental Budget Meetings March 24-April 4, 2008 • Revenue Update Workshop April 15, 2008 • Capital Improvements Workshop- ½ Day (Staff) April 17, 2008 • Review of 2nd Budget Draft - Finance & Administration April 21-25, 2008 • Economic Issues Facing the 2009 Budget – Administration & Finance April 28, 2008 • Dept’l Budget Meeting - Economic Issues: Dealing with a Deficit April 28-May 2, 2008 • Strategic Bdgt Mtg – The Budget Deficit – Administration & Finance May 15, 2008 • Budget Work Session – Declining Local Economy & Service Levels May 29, 2008

  6. Budget Process - Calendar • Finance Budgetary Meeting – Working Through the Deficit May 29, 2008 • Budget Work Sessions with City Council @ Council Chambers June 2008 • Department Head Budgetary Update Meeting (Pre-Council Workshops) June 23, 2008 • Introduction to the Budget / Personnel Matters / Capital Requests June 24, 2008 • Departmental Presentations / Budgetary Wrap-up June 25, 2008 • Reserved for additional Budget Meeting June 30, 2008

  7. Budget Process – Calendar Remaining • Present Tentative FY 2009 Budget to City Council July 11, 2008 • Public Hearings on Tentative Budget July 15, 2008 • Adopt Tentative FY 2008-09 Budgets, set Expenditure Limitation July 15, 2008 • Present Final FY 2009 Budget to City Council August 8, 2008 • Public Hearing on Final Budget August 12, 2008 • Adopt FinalFY 2008-09 Budget August 12, 2008 • Budget Due to GFOA for Award Review November 12, 2008

  8. Budget Meetings • Council Review of the FY 2009 Proposed Budget • Personnel Issues • Capital Requests • Revenue Discussions • Overall Budget Overview • Review & Wrap-up • Council Meeting Structure • About 2 hours long • Ask questions as they arise • Staff will keep notes of open issues (Open issues will be dealt with at the wrap-up session)

  9. Structure of the Proposed Budget • Cottonwood follows the Government Finance Officers Association (GFOA) Guidelines and serves as a: • Policy Document, • A Financial Plan, • An Operations Guide, and • A Communication Device. • Budgeted vs. Revised • Budgeted amounts are planned revenues and expenditures when preparing the budget, including reserves • Revised are more up to date estimates that are closer to what will actually happen through the close of the fiscal year – necessary to project a starting point for the new year’s budget • Reserves available to Council for allocation • Undesignated reserves $266,745 • Council contingency $35,000

  10. City Manager’s Transmittal Letter • Good place to Start Reading this document • Introduces the budget document to its readers • Highlights important data about the document • Discusses Key Issues • Touches on Staffing and benefits • Reviews New Programs being introduced • Reviews the budget process • Finally, lays out the City’s Capital Expenditures for the following year

  11. Budget Highlights • Total Budget is $86,941,470 • 4% Cost Of Living Adjustment • Planned at mid-year, contingent on revenues meeting estimates • Estimated cost is $200,000 • Merit Program is fully funded • Workman’s Comp e-mod is stable at 0.95x • Budgeted compensation study • Contingent on revenues meeting estimates • Planned for last fiscal quarter • To be implemented July 1, 2009

  12. Budget Highlights • ASRS contributions declined slightly from 9.6% to 9.45% • Fire Department is going to a 24/48 work schedule • Health Insurance costs remained stable for FY 2009 • Sales tax revenues were budgeted with an anticipated increase from 2.2% to 3.0%

  13. Budget Challenges • PSPRS contributions increased: • Police went from 17.30% to 22.07% - increase of 27.6% • Fire went from 10.32% to 14.83% - increase of 43.7% • $689,310 in new staffing and reclassification requests • Sales tax, our main source of revenue is estimated to be down by 3% • An increase in the sales tax rate from 2.2% to 3.0% is budgeted • AZ Average fuel prices are up 37.4% over last year (regular gasoline) • Capital & Staffing needs to continue to increase dramatically • Compression and Structure issues still plague Public Safety

  14. Major Items Budget Summary • New Staffing & Reclassifications $ 81,983 • New Programs $ 68,800 • Capital Outlay <$35,000 $212,580

  15. Personnel Issues$81,983 Budgeted

  16. Personnel Requests

  17. Personnel Reclassification Requests

  18. Personnel/Reclassification Requests Funded

  19. FY 2009 New Programs$68,800 Budgeted

  20. FY 2009 New Programs Request / Budgeted

  21. FY 2009 New Programs Request / Budgeted

  22. FY 2009 New Programs Request / Budgeted

  23. FY 2009 Capital Outlay & Improvements$34,770,125 Budgeted

  24. FY 2009 Capital – General Fund

  25. FY 2009 Capital – General Fund

  26. FY 2009 Capital – General Fund

  27. FY 2009 Capital – General Fund

  28. FY 2009 Capital - HURF

  29. FY 2009 Capital – Enterprise Funds

  30. FY 2009 Capital - Grants

  31. FY 2009 Capital – Capital Projects Fund

  32. FY 2009 Capital – Capital Projects Fund

  33. Reserves Status • Restricted Fund Balance $1,899,670 • From 45 to 60 days coverage • FY 08 - $1,656,720 • Capital Accumulation Fund $1,000,000 • Council capped until economy improves • Any excess over $1M for O&M • Undesignated Reserves $322,410 • 0.2% Public Safety Capital Fund $266,745 • 1% Portion Sales Tax CIP Reserve $827,265

  34. Sales Tax • Sales Tax revenue is estimated to decline by an additional 3% in FY 2009 • Retail Sales is 10% below last year – ($5.1M FY 2008 to $5.7M in FY 2007) • Real Estate and Rental is up 10% - ($807K FY 2008 to $731K in FY 2007) • 0.8% is estimated to bring in only $1.8M due to the implementation, collection and disbursement • Use of fiscal responsibility • All capital purchases are minimal and will be scheduled • Minimal additional staffing and reclassifications • Already have changes in Financial Operations Guide policies: • Wireless Communication Device Policy • Travel Policy • Less patrol cars driving and more use of the MDTs • COLA was delayed until 01/2009 and only if revenues meet estimates • Compensation Study delayed until last fiscal quarter of 2009 • Compensation Study implementation is delayed until 1st quarter FY 2010 • Will be back to the Council in November for Sales Tax update

  35. Question and Answer Time

  36. General Fund Administration Legal Personnel City Council Natural Resources Community Development Planning & Zoning Building Inspection Municipal Court Engineering General Fund Finance Service Finance IT Services Non-Departmental Debt Service Internal Services Fiduciary Fund Police/Dispatch/Animal Ctrl Fire Department Scheduling

  37. General Fund Police Dispatch Animal Control Fire Enterprise Funds Water Utility Wastewater Utility Special Revenues Library HURF CAT Grants Airport CIP Fund Department Scheduling

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