Page 24 - City of Westlake FY20 Budget

Section 01 Executive
Transmittal Letter

The Westlake Academy Expansion Fund (WAE) provides resources intended to finance future
Academy expansions. In FY 12-13, approximately $8.5M bond proceeds were used to fund the
construction of three new buildings on the campus. In February of 2013, an Economic Development
Agreement was executed whereby the developer pays $10K for each lot in the Granada subdivision
and $5K for each lot in the Quail Hollow subdivision. These payments are recorded in the Economic
Development Fund and are transferred to the Westlake Academy Fund.

The Municipal Expansion Fund provides funds for future Municipal expansions. Currently, this fund
is being used to provide an iconic Fire-EMS Station, which includes 4 bays, sleeping areas for staff
members, kitchen/food preparation, storage, multi-purpose space to serve as a community/staff
training, and offices for administration. The station is approximately 18K square feet of usable space
and includes the Town's Emergency Operations Center (EOC) with a back-up generator for
sustainability. It does not include any apparatus or a fire training facility. The project included the
acquisition of land by private donation.

A detailed listing of projects, with prior year funding, future funding requirements, and a project description
is included in the Capital Improvements section of this document. Please note that individual project
information sheets are also provided. These sheets indicate when a project has multiple sources of funding
and the associated operating costs.

Revenue Highlights
Revenues are budgeted to be $1.4M, a 1% decrease from the prior year. This partially due to a FY 18-19
contribution for Westlake Academy Expansion and designated for the Sam & Margaret Lee Arts and
Sciences Center.

Expenditure Highlights
Expenditures are budgeted to be $2.4M; a 21% decrease of $624K from the prior year.

Overall summary for Capital Projects and Expansion
• Capital Projects Fund increased $1.9M due to street projects totaling $852K, $8K for facility
projects, $800K for trail connections and wayfinding signage, and $250K for fiber connectivity
between the Academy and Municipal buildings.
• Municipal Expansion Fund decreased $2.4M for construction of the new Fire-EMS Station was
completed in FY 18-19.
• WAE decreased $85K for one-time costs for Westlake Academy’s facilities master plan update.

The MUNICIPAL SPECIAL REVENUE FUNDS are comprised of the six (6) funds: The Visitor Association
Fund, the 4B Economic Development Fund, Economic Development Fund, Local Public Improvement
District, Public Arts Fund, and the Lone Star Public Fund.

Revenue Highlights
Revenues are budgeted to be approximately $3M; a 12% decrease of $405K from prior year primarily
due to a reduction of sales and use taxes received in the 4B Economic Development Fund as well as the
Economic Development Fund. The Economic Development Fund is used as a pass-through based on
economic development agreements to easily identify the revenues and expenditures pertaining to the
agreements. A situs agreement with Schwab is anticipated to end in FY 18-19; therefore, less sales and
use tax will be received in FY 19-20.

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