Page 58 - City of Watauga FY22 Adopted Budget

FIVE YEAR FINANCIAL FORECAST

General Fund
Multi-Year Financial Plan
Year 1 Year 2 Year 3 Yeasr 4 Year 5
Budget Projected Projected Projected Projected
2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
BEGINNING BALANCE 6,176,396 6,050,871 5,483,442 3,605,864 972,565
REVENUES
Ad valorem taxes (1) 6,309,500 6,516,170 6,738,583 6,992,658 7,247,106
Delinqent taxes 30,000 30,300 30,603 30,909 31,218
Penalties 25,000 25,250 25,503 25,758 26,015
Sales taxes 4,070,000 4,166,750 4,291,753 4,420,505 4,553,120
Mixed Beverage 48,000 51,250 52,788 54,371 56,002
Franchise taxes 797,000 873,000 873,000 873,000 873,000
Fines and fees 564,900 636,900 656,007 675,687 695,958
Licenses and permits 569,000 574,100 585,582 597,294 609,240
Interest Income 35,000 35,350 36,411 37,503 38,628
Charges for Services 776,000 777,500 800,825 824,850 849,595
Miscellaneous 266,650 313,950 323,369 333,070 343,062
Intergovernmental Revenue 502,600 503,000 572,856 591,957 591,957
Operating Transfer In - Other Funds 788,300 793,500 1,007,302 1,007,302 1,007,302
Total Revenues 14,781,950 15,297,020 15,994,580 16,464,863 16,922,202
EXPENDITURES
City Manager & City Secretary (422,625) (492,255) (497,178) (502,149) (507,171)
Human Resources (222,980) (209,350) (211,444) (213,558) (215,694)
Information Technology (548,590) (564,670) (570,317) (576,020) (581,780)
Finance & Municipal Court (951,675) (1,049,460) (1,059,955) (1,070,554) (1,081,260)
Police Protection (4,629,780) (4,717,400) (4,764,577) (4,812,226) (4,860,345)
Fire Protection (3,138,330) (3,479,758) (3,514,562) (3,549,713) (3,585,210)
Library (946,500) (964,200) (973,842) (983,580) (993,416)
Public Works - Fleet/Buildings (1,058,610) (1,134,640) (1,145,986) (1,157,446) (1,169,021)
Parks/Recreation & Community Services (1,055,060) (1,086,960) (1,097,831) (1,108,809) (1,119,897)
Development Services (200,120) (320,856) (324,066) (327,306) (330,580)
Public Works - Street Division (534,590) (566,300) (571,968) (577,688) (583,465)
Non-Departmental - Operating (983,615) (1,093,600) (1,410,906) (1,741,924) (2,087,176)
Transfers to Capital Project Fund (165,000) (85,000) (85,000) (85,000) (85,000)
Operating Expenditures (14,857,475) (15,764,449) (16,227,630) (16,705,975) (17,200,014)
- - - - -
Total Expenditures (14,857,475) (15,764,449) (16,227,630) (16,705,975) (17,200,014)
Designated Reserves - - - - -
Recommended Reserves per Policy (3,714,369) (3,941,112) (4,056,907) (4,176,494) (4,300,003)
Available for Supplemental (75,525) (467,429) (233,050) (241,112) (277,811)
Proposed Personnel - 5 year plan - - (1,644,527) * (2,392,187) (2,932,620)
Remaining Supplemental (75,525) (467,429) (1,877,577) (2,633,299) (3,210,431)
Additional Available for Capital 2,462,027 2,109,759 1,426,534 (570,629) (3,327,438)
Total Available for Capital 2,386,502 1,642,329 (451,043) (3,203,928) (6,537,869)
Proposed Equip Replacement (50,000) - - - -
Proposed Capital Projects - (100,000) (100,000) (100,000) (100,000)
Proposed Personnel - 5 year plan - - - - -
Remaining Funds Available 2,336,502 1,542,329 (551,043) (3,303,928) (6,637,869)
ENDING FUND BALANCE 6,050,871 5,483,442 3,605,864 972,565 (2,237,866)
% OPERATING 41% 35% 22% 6% -13%
Tax Rate Variable
Assessed Taxable Value/$100 14,768,825 15,064,202 15,365,486 15,672,795 15,986,251
Amount generated by 1¢ tax 144,734 147,629 150,582 153,593 156,665
SR TAX FREEZE 551,000 578,550 607,478 646,964 679,312
I&S Rate 0.184955 0.188174 0.183344 0.180517 0.189048
General Fund 0.395445 0.401260 0.407161 0.413149 0.419225
Total Tax Rate 0.580400 0.589435 0.590505 0.593666 0.608273
Rollback I&S 0.184955 0.188174 0.183344 0.180517 0.189048
Rollback M&O 0.412638 0.401260 0.407161 0.413149 0.419225
Total Rollback Rate 0.597593 0.589435 0.590505 0.593666 0.608273
M&O Rollback Amount 5,972,295 5,923,774 6,131,106 6,345,695 6,567,794
Staffing Variable
Full-time positions 117.10 (3) 126.60 (4) 147.60 157.60 160.60
Part-time positions 6.50 6.75 6.75 6.75 6.75
Note: Non-departmental operating includes salary plan, Increase in city's insurance contribution & increase in equipment replacement payments.
*Additional positions requested in City's Personnel Improvement Plan
(1) Collection Rate for M&O is 98%
(2) Proposed Capital will only be funded if excess reserves are available. The City's Sidewalk program is funded by this transfer.
(3) In FY2020-2021, positions were unfunded/frozen that resulted in a decrease of personnel. Fiscal Year 2022 and Fiscal 2023 restores some positions previously unfunded
Safer Grant Fire/EMS personnel (6)are counted in these numbers, but are partially grant funded in FY2021 through FY2023
(4) Positions funded from PIP but may be adjusted to balance budget
Sales tax election held 5/2021 that moved 1/4 cent sales tax to General Fund for Streets and other needs. Additonal 1/4 cent was effective 10/1/2021
Personnel Improvement Plan proposed positions to be reviewed and adjusted based on funding
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