FY2014-15 Budget Summary

1. FY2014-15 Budget Summary September 17, 2014 Budget Update

2. Amended FY2014-2015 Highlights • Stable operating revenue for current fiscal year • FY 2016-2017 outlook is very challenging and CRCOG staff recommends review and mitigation measures beginning in FY 2015-2016 • If current promised state COG annual funding levels of 50 cents per capita plus $125,000 remains in place the outlook is considerably more positive ($612,858 to CRCOG) • Additional 1 FTE is proposed in the budget to accommodate for the staffing of the current Central Connecticut MPO (with the FHWA funding to come to CRCOG after MPO redesignation) • Cost of Living Adjustment non-base at level of inflation • Supplemental budget targeted for September 2014

3. Historical and Projected Revenue Grants and Operations combined • Homeland Security grants have sunset • HUD and FEMA grants have only residual amounts remaining • Transportation has several of large short term studies for FY 2015 • Policy Development and Planning received several Brownfield Grants • CRCOG and CCAT received funding for 5 statewide Demonstration Projects on the Nutmeg Network (Shared Services)

4. Long-term Operations Outlook • Chart includes 2% increase in dues annually beginning in FY2015-2016

5. Long Term NET Income • Assumes usage of carry over funds in FY 2016-2017 and almost maximum usage beginning in FY 2017-2018 • Use of carry over funds includes requirement of local match – restricting usage of local dues collected • Includes 20% estimated health insurance increases and 2% increase of dues • State funding of $612,858 is included in FY 2015, but only as best case beginning in FY 2016.

6. WRAP-UP Stable Income for FY2014-2015 Mitigation measures may be necessary beginning FY 2016-2017 Recommending non-base COLA for employees for FY 2014-2015

7. Appendix Budget Summary

8. Proposed Amended Budget Summary

9. Budget Summary by Dept.

10. Operations Summary

11. Grants Summary