AGENDA #5c
BUDGET WORKING PAPER
TO: W. Calvin Horton, Town Manager
FROM: Jim Baker, Finance Director
SUBJECT: Budget Spreadsheets on General Fund Preliminary Revenue and Expenditure Estimates
DATE: April 4, 2001
Attached are budget spreadsheets similar to those presented last year showing the major changes in revenues estimates since our January initial budget report, and the major changes or additions to the base budget included in the preliminary estimates of General Fund expenditures for 2001-2002.
|
GENERAL FUND REVENUES |
January Revenue Estimates |
Changes in Estimated Revenues |
Tax Rate Equivalent (cents) |
Explanation |
Revised Total |
|
Property Taxes (orginal estimate ) |
18,174,000 |
96,800 |
.26 |
Adjustments for revised preliminary rate of 49.4 cents |
18,270,800 |
|
Other Taxes |
948,000 |
15,000 |
.04 |
Increase in estimated cable franchise fees |
963,000 |
|
Licenses/Permits/Fines |
1,409,000 |
5,500 |
.01 |
Revised estimate for all inspection & other permits based on current activity |
1,449,500 |
|
35,000 |
.09 |
Privilege license increase in miscellaneous category |
|||
|
State-Shared Revenues |
11,211,000 |
No changes |
11,211,000 |
||
|
Grants |
438,000 |
(9,000) |
(.02) |
Miscellaneous adjustments in total grants |
429,000 |
|
Service Charges |
1,000,000 |
31,600 |
.08 |
Miscellaneous adjustment in various charges |
1,031,600 |
|
Interest on Investments |
537,000 |
(55,000) |
(.15) |
Estimated reduction due to decline in interest rates |
482,000 |
|
Other |
248,000 |
(37,900) |
(.10) |
Correction of accounting for fuel sales |
210,100 |
|
Interfund Transfers |
885,000 |
114,000 |
.30 |
Increase in Transportation indirect costs |
999,000 |
|
Fund Balance |
800,000 |
- |
- |
800,000 |
|
TOTAL |
35,650,000 |
196,000 |
.51 |
35,846,000 |
|
STATUS REPORT ON DEVELOPMENT OF THE BUDGET PROPOSAL |
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|
GENERAL FUND COST ESTIMATES |
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|
2001-2002 |
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|
Preliminary Estimates |
||||||||
Major |
Tax Rate |
|||||||
|
Base Cost * |
Changes |
Equivalent |
Explanation |
TOTAL |
||||
|
Mayor/Council |
192,772 |
192,772 |
||||||
|
Town Manager/Clerk |
921,814 |
921,814 |
||||||
|
Personnel |
525,850 |
525,850 |
||||||
|
Finance |
1,144,534 |
135,000 |
0.36 |
Recommended technology adds |
1,279,534 |
|||
|
Legal |
210,448 |
210,448 |
||||||
|
Planning |
885,275 |
885,275 |
||||||
|
Inspections |
582,049 |
582,049 |
||||||
|
Engineering |
924,425 |
924,425 |
||||||
|
Public Works |
9,203,879 |
9,343,879 |
||||||
|
40,000 |
|
Fuel Cost Increase |
||||||
|
100,000 |
0.27 |
Increase in Landfill Fees |
||||||
|
Police |
8,143,398 |
(54,000) |
(0.14) |
Transfer of funding for one position |
8,089,398 |
|||
|
Fire |
3,935,633 |
3,935,633 |
||||||
|
Parks & Recreation |
1,994,685 |
1,994,685 |
||||||
|
Library |
1,802,099 |
1,802,099 |
||||||
|
Non-Departmental |
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|
Orange Community Housing |
87,000 |
87,000 |
||||||
|
Agency Contributions |
384,900 |
10,000 |
0.03 |
Project "Glory to Tragedy" |
394,900 |
|||
|
Transfers & Contributions |
2,813,000 |
135,000 |
0.36 |
Installment Payment Land Purchase |
2,948,000 |
|||
|
440,000 |
1.18 |
CIP Projects Transfer Increase |
440,000 |
|||||
|
150,000 |
0.40 |
Installment Payments on Facility Renovations |
150,000 |
|||||
|
Other Non-Departmental |
323,000 |
323,000 |
||||||
|
816,000 |
2.18 |
Reserve for Pay Adjustments |
816,000 |
|||||
|
Total Non-Departmental |
3,284,900 |
1,551,000 |
4,835,900 |
|||||
|
TOTAL GENERAL FUND |
33,751,761 |
1,772,000 |
4.75 |
35,846,761 |
||||
|
* Includes increases in medical and insurance costs ($130,000) and workers' compensation costs ($90,000). |
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