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SUMMARY OF FY2016 PROPOSED BUDGET

General overview of the proposed budget for FY2016, including balanced budget, total funds, employee funding, budget requests, and capital improvement projects.

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SUMMARY OF FY2016 PROPOSED BUDGET

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  1. SUMMARY OF FY2016 PROPOSED BUDGET July 21, 2015

  2. General Overview of Proposed Budget • The proposed budget is a balanced budget • Total Budget for all Funds is $67,509,186 • Property Tax Rate is included at the Effective Tax Rate • Provides funding to invest in the City’s employees by including the following: • Incorporating Options 1 and 2 of the Compensation Plan along with a merit increase component • Maintaining the current health insurance coverage with a 10.98% increase including paying 100% of the employees coverage • Increasing life insurance for eligible employees from $10,000 to $25,000 of coverage • Provides funding for the some of the Budget Requests (11 of 25) and Capital Improvement Projects (23) • Maintains reserve balances at or above 20% of operational expenses

  3. FY2015 Accomplishments • Secured a long-term sustainable water supply through a contract. • Selected a consultant to prepare an updated Comprehensive Plan for the City. • Performed a facilities assessment to improve City facilities and plan for future facility needs. • Prepared a master technology plan in-house to examine current technology and assess needs. • Performed a Classification and Compensation Study to establish market comparisons and make recommendations regarding job structure, current compensation and market competitiveness. • Worked with developers to increase economic development and bring businesses to Rosenberg. • Received the Main Street City designation by the Texas Historical Commission in a program designed to assist with downtown revitalization. • Received the Platinum award from the Texas State Comptroller of Public Accounts for the highest level of financial transparency.

  4. Overview of General Fund Revenues GENERAL FUND REVENUES INDICATE A POSITIVE FINANCIAL OUTLOOK • Tax Rate is included at the effective tax rate • Effective Tax Rate will be reduced from the current $0.49 per $100 valuation • Amount of reduction not available until certified values are received from Fort Bend County • Increase in Local Sales Tax projected at approximately 5% over FY2014 actual sales tax collections • Increase in building related permit fees indicating new development

  5. Overview of General Fund Expenditures GENERAL FUND EXPENDITURES INDICATE AN OVERALL 5% INCREASE • Changes in Personnel and Benefits • Addition of 4 positions • Compensation Study increases with a merit increase of 2.5% • 10.98% increase in health insurance rates • Changes in Supplies • Cost increase for chemical supplies, street repair supplies, vehicle supplies • Changes in Maintenance & Services • Increase in maintenance contracts (janitorial, mowing, street sweeping) • Increase in Fleet Replacement Funding due to addition of large equipment • Increase in Technology Fees due to reallocation of expense to other funds • Increase in Street Improvements, Speed Hump Program, Radar Speed Signs

  6. Budget RequestsProposed Funding

  7. Capital Improvement Plan (CIP)Proposed Funding MAJORITY OF CIP PROJECTS HAVE CURRENT OR PROPOSED FUNDING AVAILABLE • Recommend issuing Certificates of Obligation • Issue Certificates of Obligation – November 2015- $4,800,000 • Bryan Road – $2,300,000 • Old Richmond Road/Jennetta Street and Avenue F Drainage - $2,500,000 • Issue Certificates of Obligation – November 2015 - $5,000,000 • WWTP 1A Collection System (Phase Two) - $5,000,000 • Issue Certificates of Obligation –March 2016 - $4,915,200 • Chloramine Conversion System (GRP) - $376,200 • Water Plant No. 8 (GRP) - $4,539,000 • Issue Certificates of Obligation – March 2016 - $4,317,000 • Spacek Road Sewer Lift Station - $2,617,000 • Spacek Road Sewer Line - $1,700,000

  8. Summary of Proposed Budget • The Proposed Budget is a Balanced Budget • Tax Rate is set at the Effective Tax Rate which should be a decrease in the tax rate • 11 of the 25 Budget Requests are included in the proposed budget • All CIP is funded with the issuance of Certificates of Obligation for several projects

  9. Proposed Budget Calendar • July 28, 2015 – Regular Council Workshop • Revenue Projections • Discusses Tax Rate • Review City Debt Service Obligation • August 8, 2015 – Budget Workshop • Review Proposed Budgets for City Departments • Review Proposed Budgets for Special Funds • Discuss Effective Tax Rate • Set Public Hearing Dates

  10. Proposed Budget Calendar • August 18, 2015 – Regular Council Meeting • 1st Public Hearing on Budget • 1st Public Hearing on Tax Rate, if necessary • City Council Discussion on Budget • August 25, 2015 – City Council Workshop • 2nd Public Hearing on Budget • 2nd Public Hearing on Tax Rate, if necessary • City Council Discussion on Budget • September 1, 2015 – Regular Council Meeting • Action to Adopt Budget • Action to Adopt Tax Rate

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