HomeMy WebLinkAbout(1 & 2) Proposed Budget #1A on 9.1.20 POWERPOINTFY 2020-2021
Proposed Budget
September 1, 2020
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Highlights
A focus of this budget is on Capital Projects
Includes a five year capital plan to assist in long term financial planning
FY2021 capital budget includes a total of $64.7 million in projects
$14.3 million Streets Projects and $12.6 million Drainage Projects
$20.4 million Water Utilities Projects
$4 million for Downtown Infrastructure
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Highlights
Coronavirus public health emergency
Disruption of normal business operations since March 2020
Increased cost of protecting citizens of Port Arthur as well as City Employees
Funding available from the Coronavirus Relief Fund, the CARES Act and FEMA
Unknown to what extent costs can be recouped
NEW: A disaster declaration was declared on August 24, 2020 related to Hurricane Laura
Still Assessing Damages
Management continues to assess service levels to most effectively provide quality services to the citizens
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FY 2020-2021
Budget Highlights
Tax Rate to remain the same - $0.792 per $100 Valuation
Salary Increase for all employees – 2.5%
Budgets are balanced in all major operating funds with the exception of transfers to capital improvements
Some adjustments to current rate structure for Water and Solid Waste
Overall – operating departments are budgeted at a “status quo” with limited additions.
Propose Establishment of a Collections Division
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FY 2020-2021 Budget Highlights
Funding for Capital Improvements primarily from operations and new bond issues
From Operations
General Fund 11.1 million
Water Utilities Fund $2.2 million
New Bond Issues
General Revenue $10 million Street Reconstruction Program
Water Utility Fund $18 million Water Line Replacement Plan
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FY 2020-2021 Budget Highlights
Changes include:
Equipment purchases of $2.6 million
New technology purchases of $200,000
Net increase of 3 authorized positions (2 are grant funded)
Increase of 4.3% in projected costs for health insurance
Increase of 3% in projected costs for general property insurance
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Fund Balance Policy
Target Fund Balance=60 days operating expenditures
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General Fund
Summary
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Water Utility Fund
Summary
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Solid Waste Fund
Summary
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Key Dates
August 14 Proposed budget was filed with the City Secretary and posted on the City’s website
August 18 City Council Proposed Budget Overview
Sept. 1 Public Hearing on Budget
Sept. 8 Public Hearing on Tax Rate and City Council Budget Workshop
Sept. 15 Adoption of the Budget Ordinance
Denotes a special Council Meeting
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Next Workshop September 8
Discussion : Capital and Debt
Suggestions??
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