Page 11 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

The Town of Westlake * 1500 Solana Blvd, Building 7, Suite 7200 * Westlake, Texas 76262

1. EXECUTIVE SECTION 3. GENERAL FUND
01 Transmittal Letter - This section is written to the Town 119 General Fund - The Town’ s principal operating fund,
Council by the Town Manager and provides a high-level which is supported by taxes, fees, and other revenues
preview of the Town’ s budget. The letter helps tie that may be used for any lawful purpose. The fund of the
together the core elements which make up the budget Town that accounts for all activity not specifically
and illustrates how those elements further the Town’ s accounted for in other funds. It includes such operations
goals found within the strategic management system. as police, fire, planning, finance and administration.
o 127 Departmental Summaries
13 Strategic Plan - The Town has adopted a Strategic
Management System ( SMS) which drives the way the
Town conducts its business. The department directors
contribute to the SMS by developing a corporate 4. ENTERPRISE FUNDS
business plan and aligning their yearly budget proposals 173 Enterprise Funds - GAAP requires state and local
to that plan. governments to use enterprise fund types to account for
business-type activities”. These activities include services
21 Community Profile - This section includes statistical primarily funded through user charges. Water and sewer
and supplemental data that describes the Town of utilities are common examples of government
Westlake and its community. It furnishes a valuable enterprises.
perspective when reviewing budget issues and making o 177 Cemetery Fund
decisions related to allocation of government resources. o 181 Utility Fund
The goal is to provide a context for understanding the
decisions incorporated into the budget document.
5. INTERNAL SERVICE FUNDS

2. FINANCIAL ANALYSIS 189 Internal Service Funds - Internal service funds are
used for operations serving other funds or departments
45 Budget 101 Overview - This section explains the within a government on a cost-reimbursement basis.
meaning behind the numbers which are presented in this o 193 Utility Major Maintenance
budget document. It gives perspective to the Town’ s o 197 General Major Maintenance
budgeting process, basis of budgeting and accounting,
how the budget is amended and the fund accounting 201 Vehicle Major Maintenance - The Vehicle
system. Maintenance & Replacement Fund (VMR) was created
to provide a mechanism for the long-term repair and
71 Financial Summaries and Analysis - This section gives replacement of Town vehicles.
an analysis between the current year and prior year o 209 Utility Vehicle Maintenance
budget, as well as the variance explanations. Several o 213 General Vehicle Maintenance
different tables are presented of all fund revenues,
expenditures and fund balance amounts.
6. SPECIAL REVENUE FUNDS
77 Ad Valorem Property Tax Analysis – A property tax is
an ad valorem tax that an owner of real estate or 217 Special Revenue Funds - This section provides a
property pays on the value of the property being taxed. detailed spending plan for funds which account for
proceeds of specific revenue sources that are legally
83 Personnel and Organization - Since salaries make up restricted for certain purposes.
the greatest portion of the expenditure budget, it is o 221 Visitors Association Fund
logical to apply forecasting techniques that can provide o 225 4B Economic Development
a true picture of where payroll dollars are headed. o 229 Economic Development -
o 233 Public Improvement District Fund
95 Long Term Planning - The Long-Range Financial o 237 Public Arts Fund
Forecast takes a forward look at the Town’s revenues o 241 Lone Star Public Facilities
and expenditures in order to identify potential financial
trends, shortfalls, and issues.

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