Page 245 - City of Westlake FY20 Budget

Section 5 Internal Service Funds
General Maintenance & Replacement Overview

The General Maintenance & Replacement Fund (GMR) was created to provide a mechanism for the long
term repair and replacement of large capital assets such as HVAC, walls, floors and ceilings, plumbing,
electric, roadways, etc.

This fund receives planned revenue transfers from each operating fund that owns and maintains capital
assets. Accumulated funds are intended to cover the cost of future capital repair and replacement. The
GMR is designed to (1) avoid future bond programs, (2) encourage a conservative pattern of spending,
(3) minimize reliance on revenue streams that are vulnerable to fluctuations in the economy, such as the
sales tax, and (4) prevent excessive maintenance and repair costs via the timely replacement of capital
assets. Project lists are developed annually from a long-range facility maintenance schedule and
incorporated into a routine schedule for maintenance and replacement of major facility equipment,
infrastructure and permanent capital assets.

Revenues and Other Sources
• Revenues and Other Sources are budgeted to be $ 238,609.
• This represents a 85% decrease of $1,329,333 from the prior year estimated.
o Permits and Fees are budgeted to remain flat at $6,000
o Investment earnings are budgeted to remain flat at $3,424
o Contributions decreased due to one-time receipts in the prior year from Westlake Academy
for facilities allotment payment from the state.
o Misc income reflects a 100% decrease of $4,525 from prior year for sales of surplus ($2.5K)
and other misc revenues $(1.9k).
o Transfers in from the General Fund decreased $1,234,614 based on one-time planning and
development building permit fees and revenues.

Expenditures and Other Uses
• Expenditures and Other Uses are budgeted to be $617,729
• This represents a 9% decrease of $61,940 from the prior year estimated.
o Dept 17 Westlake Academy Facilities maintenance decreased $78,969; due to one-time
projects in the prior year paid for with facilities allotment funds from the state.
o Dept 19 Town Parks and Recreations increased $43,029; park repair and maintenance
increased $20K and trail repairs increased $20K
o Dept 20 Town Information Technology department decreased $55,000 due to one time
network equipment purchased in the prior year
o Dept 26 Town Facilities maintenance increased $29,000; the majority of this increase is due
to the opening of the new fire station complex in FY18/19.

Fund Balance
• Excess revenues over(under) expenditures are projected to be ($379,120)
• Beginning fund balance is projected to be $1,045,371
• The ending fund balance is projected to be $666,251

233