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Tuesday, June 11th, 2013

Current Budget Year Review. Tuesday, June 11th, 2013. Finance Department Christopher M. Quinn , MACC, CPA, CFE, CGFO Finance Director. Where we started Budget b y fund. Where we started General Fund. Where we started Revenue by source. Where we started Expenditures by function.

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Tuesday, June 11th, 2013

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  1. Current Budget Year Review Tuesday, June 11th, 2013 Finance Department Christopher M. Quinn, MACC, CPA, CFE, CGFO Finance Director

  2. Where we started Budget by fund

  3. Where we started General Fund

  4. Where we started Revenue by source

  5. Where we started Expenditures by function

  6. Where are we now? Revenues • General fund: • 97% of budgeted ad valorem taxes received to date • General fund revenues are tracking ahead of budget • Water and Wastewater Utility Fund: • Utility rate increase went into effect April 1st 2013 • Stormwater Fund: • Stormwater Utility fee increase went into effect January 1st 2013 • Building Fund: • Permit revenue is projecting above budget • Capital: • Started receiving Small County Surtax which replaced the infrastructure surtax that expired December 2012.

  7. Where are we now? Tax revenue from the State through May 2013

  8. Where are we now? Expenditures • Overall, City-wide expenditures are tracking at or below budget through May 31, 2013 • General Fund Expenditures are on track as of May 31, 2013 • Citywide, fuel costs are tracking at approximately 5% over budget for the year

  9. What’s New? • Emphasis is being placed on the Strategic Action Plan being used to guide the budget • Budget Analyst now on staff • Quarterly Department Review

  10. What’s New?

  11. What’s New? Budget Analyst • Coordinates quarterly department review • Provides staff with more “hands on” help with day to day budgetary needs • Created “new look” for annual budget book Government Finance Officers Association presented a Distinguished Budget Presentation Award to The City of Palm Coast for its annual budget for fiscal year 2013

  12. What’s New? Department Review • Quarterly Review • Finance forwards memo to City manager regarding department’s budgetary compliance • Department head meets with City Manager & with Finance to review their YTD budget • Quarterly progress report provided to City Manager by department head • Performance measures are reviewed

  13. What’s Next? • June 18th • 2014 Budget Primer Presentation • July 2nd • Presentation on property taxes and millage rates • July 9th • Budget Workshop - General Fund • July 16th • Establish proposed Millage Rate (TRIM rate) • July 30th • Budget Workshop - Proprietary Funds • August 13th • Budget Workshop - Special Revenue & Capital Funds • August 27th • Final Proposed budget presentation

  14. Questions & Discussion

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