HomeMy WebLinkAbout2001 - 2005 Financial Plan.pdfamended_financial_plan_2001-2005
Financial Plan Amendments 2001-2005 • The District has a 5-year Financial Plan in place, adopted by Council January 23, 2001. • Since that time, several issues have developed, and the
plan does not accurately represent the financial plans of the District at the present time. • The following pages outline the changes that have been incorporated in an Amended Financial
Plan for 2001-2005.
GRF Surplus Previous Financial Plan Surplus $87,000 Increased Costs -$234,000 Revenue Shortfalls -$88,000 Cost-saving initiatives $458,000 Appropriation of surplus $34,000 $170,000 Amended
Financial Plan Surplus $258,000
$-$50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 Increased Costs or Revenue Shortfalls Financial Plan Amendments 2001 Dyke Maintenance Costs Taxation Base Growth Shortfall
Fire Service Delivery Structure Traffic Fine Revenue Loss
$-$50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 Cost-Saving Initiatives Financial Plan Amendments 2001 Surplus for Dyke Maintenance Public
Works & Development Corporate & Financial Services Other Administration Delay Firehall #4
Administration Vacancy Management (Business Analyst/GM-PWD) $48,400 Business Planning and Economic Development $35,000 $83,400
Corporate & Financial Services Fire: Paid-on-Call -$200,000 Fire: Delay Firehall #4 $75,000 Clerks internal cuts $20,000 Finance internal cuts $20,000 Info Systems internal cuts $43,300
Training $21,200 Police internal cuts $29,800 $9,300
Community Development, Parks & Recreation Internal Cost Savings $11,000 Payroll burden costs of approximately $100,000 will be absorbed into the operating budget from various sources
not identified in the plan.
Public Works & Development Engineering Vacancy Management $50,700 Licensing, Permits & Bylaws $5,000 Operations internal cuts $50,000 Planning Vacancy Management $19,000 $124,700
Financial Services Traffic Fine Revenue Sharing -$52,000 Real growth shortfall (general taxation base) -$20,000 Dyking Maintenance -$34,000 Real growth shortfall (recycling taxation
base) -$16,000 Surplus $34,000 Reduction in transfer to Reserves $29,600 -$58,400
Consolidated Financial Plan Revenues 2001 2002 2003 2004 2005 REVENUES External Revenues $63,080,616 $86,095,401 $58,227,179 $57,416,938 $58,374,395 Property Taxes $27,412,895 $28,966,030
$30,654,134 $32,445,771 $34,061,633 Parcel Charges $3,305,364 $3,321,383 $3,355,575 $3,389,345 $3,389,345 Fees & Charges $15,483,513 $15,896,317 $16,064,262 $16,346,692 $16,413,074
Interest $1,881,800 $1,881,800 $1,881,800 $1,881,800 $1,881,800 Grants (Other Govts) $3,053,068 $5,029,871 $4,271,408 $3,353,331 $2,628,544 Property Sales $3,157,000 $2,000,000 $2,000,000
$0 $0 Future Revenues Sources $8,786,977 $29,000,000 $0 $0 $0 Borrowing Proceeds $0 $0 $0 $0 $0 Total External Revenues $63,080,616 $86,095,401 $58,227,179 $57,416,938 $58,374,395 Internal
Revenues $27,200,024 $15,075,576 $11,625,619 $11,633,150 $13,131,456 Current Year Transfers from $11,436,992 $10,561,538 $7,570,613 $7,602,404 $8,996,850 Developer Cost Charges $4,722,569
$4,816,088 $5,026,982 $4,981,530 $5,178,329 Part 13 Funds $6,714,423 $5,745,450 $2,543,631 $2,620,874 $3,818,521 Total DCC & Part 13 Funds $11,436,992 $10,561,538 $7,570,613 $7,602,404
$8,996,850 Carryover Projects (WIP) $10,604,532 $127,000 $0 $0 $0 Developer Cost Charges (WIP) $5,523,082 $0 $0 $0 $0 Part 13 Funds (WIP) $5,081,450 $127,000 $0 $0 $0 Total Carryover
Projects (WIP) $10,604,532 $127,000 $0 $0 $0 Surplus and Reserve Accounts $5,158,500 $4,387,038 $4,055,006 $4,030,746 $4,134,606 Transfer from Surplus $40,404 $40,000 $0 $0 $0 Transfer
from Own Reserves $5,118,096 $4,347,038 $4,055,006 $4,030,746 $4,134,606 Total Surplus and Reserve Accounts $5,158,500 $4,387,038 $4,055,006 $4,030,746 $4,134,606 Total Internal Revenues
$27,200,024 $15,075,576 $11,625,619 $11,633,150 $13,131,456 TOTAL REVENUES $90,280,640 $101,170,978 $69,852,798 $69,050,088 $71,505,851
Consolidated Financial Plan Expenditures 2001 2002 2003 2004 2005 EXPENDITURES External Expenditures $81,516,306 $92,973,668 $60,692,224 $60,375,471 $62,542,037 Capital Expenditures
$28,835,549 $17,960,045 $13,261,799 $12,164,434 $13,334,073 Principal Payments on Debt $1,891,396 $1,946,516 $1,661,880 $1,440,784 $1,102,720 Interest Payments on Debt $1,668,962 $1,507,959
$1,371,322 $1,209,207 $1,090,979 Core Facilities Commitments $8,786,977 $29,000,000 $0 $0 $0 Other Expenditures $40,333,422 $42,559,148 $44,397,223 $45,561,046 $47,014,264 Total External
Expenditures $81,516,306 $92,973,668 $60,692,224 $60,375,471 $62,542,037 Internal Expenditures $8,764,334 $8,197,310 $9,160,574 $8,674,617 $8,963,815 Transfer to Reserve Funds $2,561,668
$2,709,621 $2,751,021 $2,796,128 $2,844,177 Transfer to Surplus/Reserves $6,202,666 $5,487,689 $6,409,553 $5,878,489 $6,119,637 Contribution to Surplus $594,160 $510,432 $1,220,158
$2,287,231 $2,083,843 Contribution to Own Reserves $5,608,507 $4,977,257 $5,189,395 $3,591,258 $4,035,794 Total Transfer to Surplus/Reserves $6,202,666 $5,487,689 $6,409,553 $5,878,489
$6,119,637 Total Internal Expenditures $8,764,334 $8,197,310 $9,160,574 $8,674,617 $8,963,815 TOTAL EXPENDITURES $90,280,640 $101,170,978 $69,852,798 $69,050,088 $71,505,851
Budget Hotline We invite citizens to comment on our Financial Plan. The following phone number will be active until May 14, 2001, when the 2001 Property Tax Rates are set. 467-7484