Attachment 2 - Budget Financial Summary TOWN WIDE FUND SUMMARY Audited 2017/18 Est. Actual Projected Fund % Change 2018/19 Budget Fund Title Fund Balance @ 6/30/2017 Revenue Expenditure Transfers In/Out Balance @ 6/30/2018 in Fund Balance Revenue Expenditure Projected Fund % Change 2019/20 Budget Transfers In/Out Balance @ 6/30/2019 in Fund Balance Revenue Expenditure Transfers In/Out Projected Fund Balance @ 6/30/2020 % Change in Fund Balance General Fund Operating Contingency $ 350,000 $ 350,000 $ 350,000 $ 350,000 Disaster Contingency 1,250,000 1,250,000 1,250,000 1,250,000 Internal Pension Reserve 570,000 (570,000) 0 1,600,000 1,600,000 1,600,000 Tech. Replacement Reserve 20,000 25,000 25,000 25,000 Private/Public Road 200,000 200,000 200,000 200,000 Risk Management Reserve 80,000 80,000 80,000 80,000 Unassigned Fund Balance 9,987,874 11,053,007 (10,191,208) (1,617,714) 9,226,958 11,390,868 (9,397,698) (3,530,316) 7,689,813 11,719,158 (9,400,525) (1,360,508) 8,647,938 Subtotal $ 12,457,874 $ 11,053,007 $ (10,191,208) $ (2,187,714) $ 11,131,958 10.6% $ 11,390,868 $ (9,397,698) $ (1,930,316) $ 11,194,813 0.6% $ 11,719,158 $ (9,400,525) $ (1,360,508) $ 12,152,938 8.6% Parks & Recreation in Lieu 69,389 82,429 0 (133,167) 18,651 73.1% 42,000 0 (43,432) 17,219 7.7% 42,000 0 0 59,219 243.9% COPS Fund 11,074 123,542 (421,098) 297,556 11,074 0.0% 100,000 (645,220) 544,911 10,765 2.8% 100,750 (664,311) 566,708 13,912 29.2% Special Donation 34,812 0 0 0 34,812 0.0% 0 0 0 34,812 0.0% 0 0 0 34,812 0.0% Subtotal $ 115,275 $ 205,972 $ (421,098) $ 164,389 $ 64,537 44.0% $ 142,000 $ (645,220) $ 501,479 $ 62,796 2.7% $ 142,750 $ (664,311) $ 566,708 $ 107,943 71.9% $ 0 General Capital $ 186,772 $ 0 $ (243,162) $ 405,248 $ 348,858 86.8% $ 0 $ (328,432) 173,432 $ 193,858 44.4% $ 0 $ (150,000) $ 0 $ 43,858 77.4% Pathway Capital 479,891 287,688 (21,609) 0 745,970 55.4% 193,020 (306,246) 0 632,744 15.2% 79,750 (75,000) 150,000 787,494 24.5% Westwind Barn Capital 136,653 49,028 (69,216) 0 116,465 14.8% 51,434 (153,000) 0 14,898 87.2% 52,242 (50,000) 0 17,141 15.0% Drainage Capital 866,478 79,347 (178,406) (110,200) 657,219 24.2% 158,500 (630,433) (40,000) 145,286 77.9% 153,451 0 (140,000) 158,737 9.3% Street Capital 380,751 285,341 (1,985,333) 1,728,278 409,037 7.4% 411,462 (1,917,307) 1,295,405 198,597 51.4% 417,664 (1,021,264) 783,800 378,797 90.7% Subtotal $ 2,050,545 $ 701,405 $ (2,497,727) $ 2,023,326 $ 2,277,548 11.1% $ 814,416 $ (3,335,418) $ 1,428,837 $ 1,185,383 48.0% $ 703,107 $ (1,296,264) $ 793,800 $ 1,386,026 16.9% Sewer Funds $ 2,607,749 $ 3,137,381 $ (4,147,049) $ 0 $ 1,598,080 38.7% $ 3,155,767 $ (3,488,951) $ 0 $ 1,264,896 20.8% $ 3,154,068 $ (3,425,016) $ 0 $ 993,949 21.4% Subtotal $ 2,607,749 $ 3,137,381 $ (4,147,049) $ 0 $ 1,598,080 38.7% $ 3,155,767 $ (3,488,951) $ 0 $ 1,264,896 20.8% $ 3,154,068 $ (3,425,016) $ 0 $ 993,949 21.4% All Funds $ 17,231,443 $ 15,097,764 $ (17,257,082) $ 0 $ 15,072,124 12.5% $ 15,503,051 $ (16,867,287) $ (0) $ 13,707,888 9.1% $ 15,719,083 $ (14,786,116) $ 0 $ 14,640,855 6.8% Page1
TOWN WIDE FINANCIAL SUMMARY General Fund Special Revenue Funds General Capital Funds Sewer Fund Total FINANCIAL SUMMARY 2018 19 2019 20 2018 19 2019 20 2018 19 2019 20 2018 19 2019 20 2018 19 2019 20 REVENUES BY TYPE GF GF SRF SRF CIP CIP Sewer Sewer Property Tax $ 5,944,886 $ 6,182,681 $ $ $ $ $ $ $ 5,944,886 $ 6,182,681 Taxes Other Than Property 638,776 650,719 0 0 0 0 0 0 638,776 650,719 Franchise Fees 532,240 563,545 0 0 0 0 0 0 532,240 563,545 Licenses And Permits 1,276,232 1,276,232 0 0 0 0 0 0 1,276,232 1,276,232 Use Of Money And Property 80,570 85,620 0 750 64,114 59,572 11,190 9,490 155,874 155,432 Intergovernmental 57,230 47,000 100,000 100,000 368,602 375,974 0 0 525,832 522,974 Charges For Services 1,037,665 1,036,200 42,000 42,000 381,700 267,561 3,142,107 3,142,108 4,603,472 4,487,869 Miscellaneous 38,900 39,260 0 0 0 0 2,470 2,470 41,370 41,730 Allocations In 1,784,369 1,837,900 0 0 0 0 0 0 1,784,369 1,837,900 TOTAL REVENUES 11,390,868 11,719,158 142,000 142,750 814,416 703,107 3,155,767 3,154,068 15,503,051 15,719,083 EXPENDITURES BY FUNCTION General Administration (2,289,216) (2,284,306) 0 0 0 0 0 0 (2,289,216) (2,284,306) Public Safety (1,469,740) (1,513,832) (645,220) (664,311) 0 0 0 0 (2,114,960) (2,178,143) Planning & Building (2,891,236) (2,989,232) 0 0 0 0 0 0 (2,891,236) (2,989,232) Parks & Recreation (748,589) (768,200) 0 0 0 0 0 0 (748,589) (768,200) Public Works (1,798,917) (1,844,955) 0 0 0 0 (2,388,951) (2,475,016) (4,187,868) (4,319,971) Capital Outlay Sewer 0 0 0 0 0 0 (1,100,000) (950,000) (1,100,000) (950,000) Capital Outlay Governmental 0 0 0 0 (3,335,418) (1,296,264) 0 0 (3,335,418) (1,296,264) Non Departmental (200,000) 0 0 0 0 0 0 0 (200,000) 0 TOTAL EXPENDITURES (9,397,698) (9,400,525) (645,220) (664,311) (3,335,418) (1,296,264) (3,488,951) (3,425,016) (16,867,287) (14,786,116) TRANSFERS IN / (OUT) TRANSFERS IN 0 0 544,911 566,708 1,568,837 933,800 1,100,000 0 3,213,748 1,500,508 TRANSFERS OUT (1,930,316) (1,360,508) (43,432) 0 (140,000) (140,000) (1,100,000) 0 (3,213,748) (1,500,508) TOTAL TRANSFERS (1,930,316) (1,360,508) 501,479 566,708 1,428,837 793,800 0 0 (0) 0 CHANGE IN FUND BALANCE 62,854 958,125 (1,741) 45,147 (1,092,166) 200,643 (333,184) (270,948) (1,364,236) 932,967 FUND BALANCE, BEGINNING 11,131,958 11,194,813 64,537 62,796 2,277,548 1,185,383 1,598,080 1,264,896 15,072,125 13,707,888 FUND BALANCE, ENDING $ 11,194,813 $ 12,152,938 $ 62,796 $ 107,943 $ 1,185,383 $ 1,386,026 $ 1,264,896 $ 993,949 $ 13,707,888 $ 14,640,856 Page2
DEPARTMENT SPENDING FIVE YEAR COMPARISON AND TWO YEAR BUDGET ALL FUNDS Town wide Expenditure by 2014 15 2015 16 2016 17 2017 18 2017 18 2018 19 % Change 2019 20 Department Actual Actual Actual Final Est. Actual Proposed to Est. 17 18 Budget % Change General Administration $ 1,557,775 $ 1,850,996 $ 1,839,645 $ 2,213,546 $ 2,023,062 $ 2,289,216 13.2% $ 2,284,306 0.2% Public Safety 1,205,911 1,417,041 1,773,694 1,803,358 1,783,185 2,114,960 18.6% 2,178,143 3.0% Planning & Building 2,249,915 2,308,533 2,439,656 2,955,456 2,700,498 2,891,236 7.1% 2,989,232 3.4% Parks & Recreation 615,855 710,546 691,163 709,691 714,908 748,589 4.7% 768,200 2.6% Public Works 2,799,012 3,247,866 3,695,574 4,072,878 4,002,464 4,187,868 4.6% 4,319,971 3.2% Non Departmental 0 53 0 1,660,209 1,667,066 200,000 88.0% 0 100.0% Total Expenditures $ 8,428,468 $ 9,535,036 $ 10,439,732 $ 13,415,139 $ 12,891,183 $ 12,431,869 3.6% $ 12,539,852 0.9% $ Increase / (Decrease) (459,314) 107,983 % Increase / (Decrease) 4% 1% Internal Service Fund Town Center $ 347,295 $ 323,216 $ 372,138 $ 398,396 $ 349,619 $ 433,450 24.0% $ 444,460 2.5% Corporation Yard 98,100 129,704 130,793 143,268 115,165 125,111 8.6% 127,476 1.9% Vehicle Maintenance 61,386 74,564 138,490 87,278 76,781 74,384 3.1% 76,223 2.5% Total Internal Service Allocated $ 506,781 $ 527,483 $ 641,420 $ 628,942 $ 541,565 $ 632,945 16.9% $ 648,159 2.4% $ Increase / (Decrease) 91,379 15,215 % Increase / (Decrease) 17% 2% Page3
GENERAL FUND REVENUES AND EXPENDITURES BY CATEGORY (A) (B) (B)/(A) 1 (C) (C)/(B) 1 011 2014 15 2015 16 2016 17 2017 18 2017 18 2018 19 Percent 2019 20 Percent Financial Summary Actual Actual Actual Final Budget Est. Actual Budget Change Budget Change Revenues by Category Property Tax $ 4,606,184 $ 4,960,015 $ 5,302,028 $ 5,610,400 $ 5,716,236 $ 5,944,886 4.0% $ 6,182,681 4.0% Taxes Other Than Property 645,835 511,091 610,337 562,600 624,592 638,776 2.3% 650,719 1.9% Franchise Fees 513,996 474,732 573,336 516,200 563,962 532,240 5.6% 563,545 5.9% Licenses And Permits 1,485,394 1,334,953 1,544,996 1,799,500 1,268,632 1,276,232 0.6% 1,276,232 0.0% Use Of Money And Property 208,493 253,699 171,227 208,427 205,062 80,570 60.7% 85,620 6.3% Intergovernmental 191,902 203,841 60,357 50,700 53,418 57,230 7.1% 47,000 17.9% Charges For Services 1,323,204 1,240,934 1,069,543 1,190,600 967,736 1,037,665 7.2% 1,036,200 0.1% Miscellaneous 56,004 31,942 21,246 29,400 29,848 38,900 30.3% 39,260 0.9% Allocations In 1,156,793 1,458,356 1,459,279 1,727,247 1,623,520 1,784,369 9.9% 1,837,900 3.0% Total Revenues 10,187,806 10,469,563 10,812,349 11,695,074 11,053,007 11,390,868 3.1% 11,719,158 2.9% Expenditure by Category Personnel (2,392,794) (2,498,627) (2,637,400) (4,775,035) (4,444,699) (3,347,631) 24.7% (3,225,457) 3.6% Contractual Services (2,001,037) (2,177,246) (2,458,185) (2,666,040) (2,608,300) (2,637,879) 1.1% (2,716,415) 3.0% Professional Services (344,242) (383,107) (411,689) (482,500) (520,810) (531,107) 2.0% (522,040) 1.7% Operations (481,811) (651,020) (535,133) (745,220) (761,670) (805,632) 5.8% (798,901) 0.8% Allocations Out (1,724,697) (1,755,651) (1,804,275) (2,020,876) (1,855,728) (2,075,449) 11.8% (2,137,713) 3.0% Total Expenditures (6,944,581) (7,465,651) (7,846,681) (10,689,671) (10,191,208) (9,397,698) 7.8% (9,400,525) 0.0% Transfers In / (Out) Transfers In 3,000 8,342 1,065,139 0 0 0 n/a 0 n/a Transfers Out (1,538,901) (700,041) (1,300,829) (2,243,836) (2,187,714) (1,930,316) 11.8% (1,360,508) 29.5% Total Transfers (1,535,901) (691,699) (235,690) (2,243,836) (2,187,714) (1,930,316) 11.8% (1,360,508) 29.5% Change in Fund Blance 1,707,324 2,312,213 2,729,978 (1,238,433) (1,325,916) 62,854 104.7% 958,125 1424.4% Fund Balance Beginning 5,708,358 7,415,683 9,727,896 12,457,874 12,457,874 11,131,958 10.6% 11,194,813 0.6% Ending $ 7,415,683 $ 9,727,896 $ 12,457,874 $ 11,219,441 $ 11,131,958 $ 11,194,813 0.6% $ 12,152,938 8.6% Page4
SEWER FUND (A) (B) (B)/(A) 1 (C) (C)/(B) 1 Sewer 2015 16 2016 17 2017 18 2017 18 2018 19 Percent 2019 20 Percent Financial Summary Actual Actual Revised Est. Actual Budget Change Change Budget Change Change Revenues by Category Sewer Assessment Charges $ 1,925,636 $ 2,759,287 $ 2,870,620 $ 2,870,620 $ 2,956,739 $ 86,119 3.0% $ 2,956,739 $ 0 0.0% Sewer Connection Fees 221,010 185,369 252,100 252,100 185,369 $ (66,732) 26.5% 185,369 $ 1 0.0% Use Of Money And Property 32,557 4,134 8,583 8,221 11,190 $ 2,969 36.1% 9,490 $ (1,700) 15.2% Miscellaneous 2,832 2,470 0 6,440 2,470 $ (3,970) 61.6% 2,470 $ 0 0.0% Total Revenues 2,182,035 2,951,259 3,131,303 3,137,381 3,155,767 18,386 0.6% 3,154,068 (1,699) 0.1% Expenditure by Category Personnel (172,970) (168,700) (152,327) (89,919) (164,820) (74,901) 83.3% (173,849) (9,029) 5.5% Sewer Treatment Cost (1,028,818) (1,024,901) (1,059,100) (1,065,136) (1,118,393) (53,257) 5.0% (1,174,312) (55,919) 5.0% Sewer Maintenance Contract (365,275) (417,474) (450,000) (450,000) (472,500) (22,500) 5.0% (496,125) (23,625) 5.0% Other Contract Services (39,685) (9,198) (7,400) (28,953) (53,953) (25,000) 86.3% (28,953) 25,000 46.3% Professional Services (139,968) (278,535) (384,500) (407,450) (289,035) 118,414 29.1% (302,962) (13,927) 4.8% Operations (10,239) (14,146) (13,500) (12,245) (12,900) (655) 5.3% (13,143) (243) 1.9% Allocations Out (208,047) (273,292) (225,175) (225,175) (277,351) (52,176) 23.2% (285,671) (8,321) 3.0% Total Expenditures (1,965,003) (2,186,246) (2,292,002) (2,278,877) (2,388,951) (110,074) 4.8% (2,475,016) (86,064) 3.6% Net Operations 217,032 765,013 839,301 858,504 766,816 10.7% 679,052 11.4% Other Adjustments Capital Outlay (408,308) (740,123) (2,386,566) (1,868,172) (1,100,000) 41.1% (950,000) 13.6% Net Change to Cash Reserves (191,275) 24,891 (1,547,265) (1,009,668) (333,184) (270,948) Unrestricted Net Position Beginning 2,774,133 2,582,858 2,607,749 2,607,749 1,598,080 1,264,896 Ending $ 2,582,858 $ 2,607,749 $ 1,060,484 $ 1,598,080 1,264,896 993,949 Page5
SEWER FUND Sewer 2017 18 2017 18 2018 19 2019 20 2020 21 2021 22 2022 23 2023 24 2024 25 Financial Summary Revised Est. Actual Budget Budget Projection Projection Projection Projection Projection Customer Revenue 2,870,620 2,870,620 2,956,739 $ 2,956,739 $ 2,956,739 $ 2,956,739 $ 2,956,739 $ 2,956,739 $ 2,956,739 All Other Revenue 260,683 266,761 199,029 197,329 191,339 189,839 189,339 189,339 188,839 Total Revenues 3,131,303 3,137,381 3,155,767 3,154,068 3,148,078 3,146,578 3,146,078 3,146,078 3,145,578 3,131,303 3,137,381 3,151,577 3,149,578 3,148,078 3,146,578 3,146,078 3,146,078 3,145,578 Contracted Maint. & Treatment Costs (1,509,100) (1,515,136) (1,590,893) (1,670,437) (1,753,959) (1,841,657) (1,933,740) (2,030,427) (2,131,948) All Other Expenditures (782,902) (763,741) (798,058) (804,579) (830,904) (858,203) (883,841) (912,331) (948,464) Total Expenditures (2,292,002) (2,278,877) (2,388,951) (2,475,016) (2,584,863) (2,699,860) (2,817,581) (2,942,757) (3,080,412) Net Operations 839,301 858,504 766,816 679,052 563,215 446,718 328,497 203,321 65,166 Other Adjustments Capital Outlay (2,386,566) (1,868,172) (1,100,000) (950,000) (950,000) (950,000) (950,000) (950,000) (950,000) Prior Period Adjustment Pension 0 0 0 0 0 0 0 0 0 Net Change to Cash Reserves (1,547,265) (1,009,668) (333,184) (270,948) (386,785) (503,282) (621,503) (746,679) (884,834) Cash Reserves Beginning 2,607,749 2,607,749 1,598,080 1,264,896 993,949 607,164 103,881 (517,621) (1,264,301) Ending $ 1,060,484 $ 1,598,080 $ 1,264,896 $ 993,949 $ 607,164 $ 103,881 $ (517,621) $ (1,264,301) $ (2,149,134) Years with no Rate Increase Scheduled Page6