May 14th–18th, 2012. Mayors Opening Comments Overview of Budget Process Budget Picture City Wide Budget General Fund Overview Water & Waste Water Funds.

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Presentation transcript:

May 14th–18th, 2012

Mayors Opening Comments Overview of Budget Process Budget Picture City Wide Budget General Fund Overview Water & Waste Water Funds Service Impacts Department Presentations Mayors Closing Comments & Recommendations Finance Committee Deliberations and Policy Considerations

Do not follow where the path may lead. Go instead where there is no path and leave a trail. - Ralph Waldo Emerson

FY Began Budget Process in October Reviewed Prior Year Reductions Developed List of Reductions & Revenue Enhancements Developed List of Unmet Needs / Critical Services Fund Balance Carryover:$4.7million Vacant Positions

Revenues trending up slightly Recovery slow, yet hopeful Community support & City staff commitment Economic Impacts on Central Valley Continue - housing market, foreclosures, unemployment rate, construction industry, etc.)

Continued challenges Expenditures still exceed revenues Service levels remain flat but needs are evident Water & Wastewater rates stable - Future rate increases being proposed Salary & Benefits (contractual raises, increased PERS costs, retiree health care costs projected to increase annually) MPOA – 2% August, 2012 – Estimated at $310,052 MPMA – 2% August, 2012 – Estimated at $82,571 MCFFA – 3% July, 2012 – Estimated at $460,898 Structural Change needed One time fixes are being depleted

Notes:Revenues include Transfers In Transfers Out include:Debt Service - $3,400,801 Surface Transportation MOE - $1,687,715 4th Year of PD ARRA Grant - $986,000 Mayor's Recommended Reductions or Enhancements Are Not Included

Water Fund Budget $58 Million 3.1% Rate Increase Wastewater Fund Budget $41 Million 7% Rate Increase Fiscal Challenges

Tree Trimming Fire Services Police Services Street Sweeping All Support Departments Street Lighting Park Maintenance Roads Graffiti Abatement

EBF – New actuarial analysis conducted in 2011 Annual Required Contribution (ARC) doubled from previous actuarial study The City is not fully covering pay-go costs Pay-go costs are expected to double by 2020

Workers Comp – New actuarial analysis done in 2011 Claims cost have trended lower, but the actuarial has amortized the deficit funding to cover previous year holidays The City is not fully covering Workers Comp cost (It is projected that reserves will drop from 14 mill (10/11) to 9 mill. (12/13)

*Funded to 75% of recommended actuarial funding

RE-BALANCE 5 th Year of fixes Staffing levels reflect 2003 Still need on-going, permanent change (i.e., roll-overs, one-time monies) Adapt to changing economic climate To sustain moving forward, requires balance

Monday,MAY 14 th, 2012 City Clerk City Attorney City Manager, City Council & City Auditor Parks, Recreation & Neighborhoods Finance Human Resources Community & Economic Development Police

Utility Funds Review Sewer (Wastewater) Storm Drain Water Utility Planning & Projects Surface Transportation Funds (STF)-CEDD, Public Works & PRN Tuesday,MAY 15 th, 2012

Public Works Fleet Transit Airport & Parking Information & Technology Fund Modesto Regional Fire Authority (MRFA) Tuesday,MAY 15 th, 2012

Report Backs/Discussions Continued Policy Issues Addressed Summary Friday Meeting (To be held if needed) Thursday,MAY 17 th, 2012

See Mayors Recommendations Tab Located in Budget Binder (hard copies are available)

Thank you & Questions