Page 25 - City of Westlake FY20 Budget

Section 01 Executive
Transmittal Letter

Expenditure Highlights
Expenditures are budgeted to be $3.1M; a 13% decrease of $456K from prior year. A large portion of
this decrease is related to the Economic Development Fund as stated above. In addition, the
Communications department expenditures will decrease by a total of $27K.

Fund Balance
The combined ending fund balances of our special revenue funds are projected to be $879K and include:
• Visitors Association Fund = $441K
• 4B Economic Development Fund = $0
• Economic Development Fund = $0
• Local Public Improvement District = $392K
• Public Arts Fund = $30K
• Lone Star Public Fund = $16K

The ACADEMIC SPECIAL REVENUE FUND is included in the Municipal’s budget and unlike a more
traditional municipality, academic services is considered our largest operating department of the Town.

Revenue Highlights
The revenues are budgeted to be approximately $9.7M; a 9% increase of $794K from the prior year
estimated of $8.9M primarily due to an overall increase in state funding due to changes in House Bill 3
and an increase in students, up from the amended count of 869 to the budgeted count of 910 (41
student increase).

Expenditure Highlights
Expenditures are budgeted at approximately $9.6M; a 9% increase of $797K from prior year of $8.8M.
Major increases include $707K in payroll due to the addition of 4.5 instructional staff and specialist
positions, bringing janitorial services in-house (adding 2 FTE), and an additional $183K in debt service for
st
the 1 payment of a new student iPad lease and the last payment of old lease. These increases were
offset by decreases in contracted costs for janitorial services, supplies, and materials.

Fund Balance
The ending fund balance is projected to be $1.4M, representing a 12% increase of $145K from the prior
year estimated. The unassigned balance of $1.37M represents coverage for 52 operating days.

The INTERNAL SERVICE FUNDS are comprised of the following (1) Utility Maintenance and Replacement
Fund; (2) General Maintenance and Replacement Fund; (3) Utility Vehicle Maintenance and
Replacement Fund; and (4) the General Vehicle Maintenance and Replacement Fund.

The Maintenance and Replacement Funds provide resources for future facility financial requirements, an
important element of our budget given the size and complexity of the Town’s facility infrastructure. We will
strive to continue our practice of transferring money into these funds. Many of the smaller daily
maintenance efforts for facilities are absorbed into the various operating budgets as appropriate.
However, we recognize the importance of a proactive maintenance program that addresses larger scale
projects and prudently prepares us financially for increased maintenance and repair costs as facilities age.

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