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Town of Broadway Fiscal Year 2014 Budget May 7, 2013.

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Presentation on theme: "Town of Broadway Fiscal Year 2014 Budget May 7, 2013."— Presentation transcript:

1 Town of Broadway Fiscal Year 2014 Budget May 7, 2013

2 Revenues Overview % Change from Previous Year General Fund$1,595,9009.83% Water Fund$522,8003.36% Sewer Fund$2,617,700-0.27%

3 Expenditures Overview % change from previous year General Fund $1,595,8009.83% Water Fund$522,8003.36% Sewer Fund$2,617,700-0.27%

4 General Fund Highlights Revenue Real estate rate remains unchanged at $.07 Meals tax a significant source of revenue and continues to climb Sales tax continues to rise moderately for the second straight year. Personal Property revenue remain steady Cigarette tax nearly covering debt service No increases in fees or taxes

5 General Fund Revenues

6 General Fund Highlights Expenditures Street Maintenance continues to account for significant portion of fund Increased part time wages in police department to allow for improved coverage Continue with improvements at the Community Park No new initiatives; General Fund fairly static

7 General Fund Expenditures

8 Water Fund Revenue Proposed 2.9% increase – equates to $1.22 per billing cycle for average user Connection Fees collections are projected to remain stable Overall revenue projected to increase by 3.36%

9 Water Fund Revenues

10 Water Fund Expenditures Overall expenses increasing 3.36% Continue purchasing average 50k gallons per day of water from Co-op Minor capital improvements at plant, as well as installing valves in critical locations around town. No debt

11 Sewer Fund Revenues No increase in user rates Connection fees steady Sludge removal revenue ongoing but decreasing due to amount generated; sludge expenses also decrease Total revenue almost identical to current year; decrease of.27%

12 Sewer Fund Revenues

13 Sewer Fund Expenditures Fairly consistent with current year Third consecutive year of decreasing expenditures; albeit slightly, -27% Minor capital improvements and contingency built in Promoting Wes Estep from regular part time status to full time

14 Summary FISCAL YEAR 2014 BUDGET FY 2014 Revenue:Proposed General Fund $ 1,595,900 Water Fund $ 522,800 Sewer Fund $ 2,617,700 Total Revenue$4,736,400 Expenditures: General Fund: General/Administrative $ 479,600 Public Safety $ 341,800 Highways & Streets $ 435,000 Parks & Recreation $ 111,500 Sanitatio n $ 187,000 Debt Service $ 41,000 Enterprise Funds: Water Fund $ 522,800 Sewer Fund $ 2,617,700 Total Expenditures$4,736,400

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