Mid Year Budget Review Annual Budget Fiscal Year

Mid Year Budget Review Annual Budget Fiscal Year 2018 - 2019

The Process OCTOBER NOVEMBER DECEMBER Mid-Year Review (Current Year) • • Economic factors New legislation Strategic priority reallocation New projections JANUARY FEBRUARY MARCH Annual Operating Budget • Council/Management Input • Budget Committee • Public Workshop(s) • Adoption

Challenges • Staffing • Aging infrastructure and deferred maintenance • Local economy and legislation (Deregulation, unfunded mandates, etc)

Opportunities • Development of Administrative and Financial Policies • Hiring of qualified Employees and Contractors e. g Finance Director, Management Analyst, Public Works and Parks Superintendent, etc • Generate new revenue sources • Build Reserves • Contract Negotiations

Foundation and Balance

Our Foundation: Strategic Plan (Adopted)

STRATEGIC VISION “Find business and learning opportunities plentiful for all in this historic countryside village where you’ll warmly greet your neighbor passing on Main Street. ”

Strategic Mission/Values “Enabling economic prosperity and new business, while building community pride and cohesion through hands-on selfgovernance. ”

Strategic Mission/Values • Celebrating authenticity, tradition and diversity. • Achieving real collaboration, tradition and diversity. • Implementing action-oriented government. • Promoting an independent, informed citizenry while achieving 5 -star communication with each other and community. • Advancing thoughtful, well-planned growth and development/redevelopment. • Promoting healthy, family-friendly neighborhoods. • Encouraging broad educational access and opportunities.

STRATEGIC GOALS GOAL A: Improve Financial Base & Housing Development Realize and grow the local economy and business core (industrial and commercial uses as appropriate, creating new jobs), thereby building the Village's financial foundation (tax base and/or value), and subsequently attracting housing reinvestment and expansion. GOAL B: Administer Priority Village Operations Focus on establishing sound village financial foundation; engage resident committees and efficiently deliver key services (water, sewer, waste, drainage, emergency/ safety), chart desired future.

Strategies Pursuing Goal A Strategy Cost- Recurring ($) Comprehensive Plan 100, 000 Opportunity Zone/ Development services Code and LDR Craft developer message; tabletop presentation or video Advocate for development/redevelopment Broadcast message 25, 000 Chamber partnership Cost- One Time ($) 155, 000 10, 000 15, 000 20, 000

Strategies Pursuing Goal B Strategy Cost- Recurring ($) 25000 Enhance/Shape Brand 5000 Assess Village Hall space Utility Task Force & Village Corps Coordinator - 1 new staff Utility Assessment/ Engineer Village Corps (3) Cost- One Time ($) 60000 155000 15000

Strategic Plan Elements 15 Strategies (Not otherwise funded) Total Cost- Recurring Cost- One Time $340, 000 $345, 000

Balance - Is the budget sustainable? • By law, must balance. Revenue = Expenditure $11, 400, 796 • Applying conservative approach, use known factors • Applying strategic approach, focus on priorities • Conservative revenue expectation (recurring vs. temporary or once) • Are we fiscally sound (revenue sources, base)? • Expenditures for recurring needs (every year) • Expenditures for planned projects

Other Budget Goals Program Funding for Infrastructure & Capital Improvements • Daily Operations of City Hall • Road and Streets • Sanitation Infrastructure • Other Capital Improvements

General Fund Revenues Budgeted Ad Valorem 752, 000; 6% Local Option Fuel taxes 461, 000; 4% Communications Services taxes - $112, 500 304, 324; 3% Building permits - $100, 000 Electricity-Franchise State Revenue Sharing $159, 000 Half Cent Sales Tax 9, 641, 972 Interest - $50, 000 Prior Year carryover

General Fund Expenditures Budgeted 8% 21% General Government - $951, 855 Public Safety - $6, 053, 759 3% Physical environment - $597, 434 Transportation - $1, 028, 448 9% Culture/Recreation - $365, 338 Debt Service -$2, 404, 035 53% 5%

FY 2019 -19 Mid-year Recap • Major Revenue Outlook • Solid Performance • Expenditure Summary • In line with budget projections

BUDGET vs ACTUAL GENERAL FUND Revenues: Taxes Permit, Fees & Licenses Intergovernmental Interest/Earnings Expenditures: Ad Valorem Local Option Fuel taxes Communications Services taxes Building permits Electricity-Franchise State Revenue Sharing Half Cent Sales Tax Interest Total Revenues & Other Financing Sources Prior Year Fund Balance (carryover) Total revenues General Government Public Safety Physical environment Transportation Culture/Recreation Total expenditures Debt Service Total appropriated expenditures & reserves 9, 641, 972 304, 324 112, 500 9, 474, 662 26, 868 100, 000 107, 742 461, 000 159, 000 752, 000 50, 000 11, 580, 796 (180, 000) 11, 400, 796 YTD Receipts Budget 98. 3% 0. 0% 23. 9% 7, 742 (329, 995) (78, 011) (442, 433) (47, 491) (1, 447, 455) 180, 000 (1, 267, 455) 539, 441 1, 598, 578 73, 928 2, 211, 947 226, 000 2, 437, 947 Percentage of Receipts (167, 309) (304, 324) (85, 632) 131, 005 80, 989 309, 567 2, 509 10, 133, 341 951, 782 6, 053, 759 597, 434 1, 028, 448 365, 338 8, 996, 761 2, 404, 035 11, 400, 796 Remaining Budget 412, 341 4, 455, 181 597, 434 954, 520 365, 338 6, 784, 814 2, 178, 035 8, 962, 849 107. 7% 28. 4% 50. 9% 41. 2% 5. 0% 87. 5% 0. 0% 88. 9% Percentage of Use 56. 7% 26. 4% 0. 0% 7. 2% 0. 0% 24. 6% 9. 4% 21. 4%

Expenditure Detail GENERAL FUND GENERAL GOVERNMENT LEGISLATIVE: COUNCIL EXECUTIVE SALARIES TOTAL LEGISLATIVE FINANCIAL & ADMINISTRATIVE: PROFESSIONAL SERVICES: CITY CLERK/VILLAGE MGR LEGAL FINANCIAL GROWTH MGMT/BUILDING SVCS. OTHER ADMINISTRATION (code enf. /offc asst. /bldg. tech) ACCOUNTING & AUDITING OTHER SERVICES TRAVEL & PER DIEM COMMUNICATIONS/INTERNET SERVICES FREIGHT& POSTAGE UTILITIES RENT & LEASES INSURANCE REPAIR & MAINTENANCE PRINTING & BINDING PROMOTIONAL OFFICE SUPPLIES BOOKS/PUBLICATIONS/SUBSCRIPTIONS TRAINING CONTINGENCY TOTAL FINANCIAL & ADMINISTRATIVE Budget YTD Expenditures Over/Under Budget 55, 000 230, 000 159, 166 87, 304 108, 000 26, 966 158, 721 72, 000 43, 652 100, 000 28, 034 71, 279 87, 166 43, 652 8, 000 95, 000 25, 000 18, 000 10, 000 38, 000 2, 000 4, 000 12, 900 17, 412 10, 000 15, 000 4, 000 7, 000 6, 000 30, 000 888, 782 57, 918 2, 612 13, 364 3, 758 14, 706 301 2, 580 6, 921 14, 028 3, 116 3, 592 3, 248 2, 500 2, 580 720 - 506, 318 37, 082 22, 388 4, 636 6, 242 23, 294 1, 699 1, 420 5, 979 3, 384 6, 884 6, 408 11, 752 1, 500 4, 420 5, 280 30, 000 382, 464 % of Expenditures 49. 0% 69. 0% 45. 2% 50. 0% 92. 6% 61. 0% 10. 4% 74. 2% 37. 6% 38. 7% 15. 0% 64. 5% 53. 7% 80. 6% 31. 2% 35. 9% 21. 7% 62. 5% 36. 9% 12. 0% 0. 0% 57. 0%

Expenditure Detail DEBT SERVICE PAYMENTS: PRINCIPAL INTEREST TOTAL DEBT SERVICE PAYMENT TOTAL GENERAL GOVERNMENT PUBLIC SAFETY: PROTECTIVE INSPECTIONS (PERMIT SERVICES) FIRE RESCUE TOTAL PUBLIC SAFETY PHYSICAL ENVIRONMENT: STORMWATER MANAGEMENT (PUBLIC WORKS) TOTAL PHYSICAL ENVIRONMENT TRANSPORTATION: ROAD AND STREET (PUBLIC WORKS) TOTAL TRANSPORTATION CULTURE & RECREATION: PARKS & RECREATION TOTAL CULTURE & RECREATION TOTAL 2, 404, 035 8, 000 2, 412, 035 3, 355, 817 100, 000 5, 953, 759 6, 053, 759 597, 434 1, 028, 448 365, 338 226, 000 6, 157 232, 157 417, 679 110, 138 1, 488, 440 1, 598, 578 - 73, 928 - 2, 178, 035 1, 843 2, 179, 878 2, 938, 138 (10, 138) 4, 465, 319 597, 434 954, 520 365, 338 2, 437, 94 11, 400, 796 7 8, 962, 849 9. 4% 77. 0% 110. 1% 25. 0% 0. 0% 7. 2% 0. 0% 21. 4%

Recommended Adjustments 20, 000 appropriation for Executive Pension

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