Page 20 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 1 Executive
Transmittal Financials

FUND BALANCE CHANGES BY FUND TYPE

On behalf of the Senior Leadership Team and all Westlake staff members, I am presenting the
Fiscal Year 2018- 19 budget document for the Council’ s consideration as follows:

Projected Projected Net
Beginning Revenues Expenditures Ending Change
Fund Type Fund and Other and Other Fund Percent to Fund Change
Balance Sources Uses Balance of Total Balance Percent
General Fund $ 9,216,613 $ 12,313,609 $ 12,064,992 $ 9,465,231 42% $ 248,618 3%
Enterprise Funds 400,739 7,540,741 6,364,008 205,060 1% 1,176,733 294%
Internal Service Funds 1,570,999 1,503,545 1,079,475 1,995,069 9% 424,070 27%
Special Revenue Funds 1,175,308 2,835,410 2,884,218 1,126,499 5% ( 48,808) - 4%
Debt Service Funds 30,821 2,662,779 2,693,600 - 0% ( 30,821) - 100%
Capital Projects Funds 7,202,555 4,643,614 4,676,681 7,169,488 32% ( 33,067) 0%
Municipal Total 19,597,035 31,499,699 29,762,974 21,333,760 94% 1,736,725 9%
Academic Funds 997,046 8,644,100 8,382,199 1,258,947 6% 261,901 26%
TOTAL $ 20,594,078 $ 40,143,799 $ 38,145,173 $ 22,592,704 100% $ 1,998,626 10%

The FY 2018- 19 budgeted expenditure amount totals $38,145,173 for all funds
Fund balance shows a 10% increase of $1,998,626 from the prior year estimated.
o Academic funds reflect a 26% increase of $261,901
o Municipal funds reflect a 9% increase of $1,736,725 and include planned use of
fund balance of $112,696.

MUNICIPAL OPERATING EXPENDITURES

If only Municipal operating expenditures were taken into consideration (removal of all
expenditures related to capital projects, inter-fund transfers and Westlake Academy), the
FY18-19 budget shows a 7% increase of $1,302,440.

ESTIMATED ADOPTED Change Change
FY 17/ 18 FY 18/ 19 Amount Percent
Payroll & Related $ 4,208,369 $ 4,495,731 $ 287,362 7%
Operating Expenditures 13,291,438 14,306,516 1,015,078 8%
TOTAL $ 17,499,807 $ 18,802,247 $ 1,302,440 7%

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