Year 201415 Chancy A Nutt Finance Administrator Timothy W Grier Town Manager Planning for Projects Transitioning into a new year and revenue cycles Comprehensive look at the beginning fund balance and projected monthly carryover money ID: 236796
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Slide1
Proposed Project Plan for Fiscal Year 2014-15
Chancy A. Nutt, Finance AdministratorTimothy W. Grier, Town Manager Slide2
Planning for Projects
Transitioning into a new year and revenue cyclesComprehensive look at the beginning fund balance and projected monthly carry-over money
Operating costs vs. Project costs
Project selection allows staff to work more efficiently
Project selection assists council to plan spending throughout the year and prioritize projects
proposed projects FY 14-15Slide3
Current Cash Position (to date)Target Cash PositionCash Carry Over
Council Approved ProjectsSpreg Crossing $63,400, Moonlight Crossing $111,043, Park Cabanas $15,000, GO Tech (moonlight dr. low water crossing study) $1,000, Photo Enforcement Survey $ 4,657.
Projected Beginning Project Fund
(carry over)
Balance (after completion of council approved projects)Projected Revenues over ExpendituresRevenues received through State sharing and local sourcesExpenses the town will accrue during normal operations and routine maintenance. Projected Revenue over Expenditures $ 574,644 with a monthly surplus of $
47,887
LESS 10% for changes in revenues / expenditures - $ 57,464Projected Project Funds Available for Fiscal Year 2014/2015
$ 3,100,000$ 2,600,000$ 500,000$ 195,100$ 304,900$ 517,180 $ 822,080
proposed projects FY 14-15
Project Funds
Council has in the past directed the Town Manager to maintain a $ 2.6m fund reserveSlide4
Projected Fund Surplus
Expenditures that allow for daily operations and routine maintenance are considered Operating Expenditures. Projected Operating Expenditures of $ 1,523,910 Revenues received through state sharing, local sources, and fees, fines, licensing, and billing are our Operating Revenues. Projected revenues of $ 2,098,554Surplus of revenues over expenditures are projected to be $ 574,644, or if divided by twelve, a monthly surplus of $ 47,887
(we are reducing this number by 10% to allow for unanticipated reduction in revenues and/or unanticipated expenditures to $ 517,180)
Therefore:
Carry Over $ 304,900Revenues over Expenditures (LESS 10%) $ 517,180Total $ 822,080
proposed projects FY 14-15Slide5
Staff
Recommended ProjectsStreets and RoadsFire Wise
Culverts and Drainage
Back-Up Water Supply (Valley Well Project)
Purchase of Adjacent LandThree Year Planning Park Phase IIDonationsMeals on Wheels $ 20,000 (Grant FY 15 & 16)Ridership Program $ 9,100Payson Rodeo $ 2,300Payson Youth $ 2,500
Tonto Bridge $ 1,000
Tonto Tribe $ 3,000$ 233,560 – 333,560
$ 3,000 – 5,000$ 100,000 – 200,000$ 75,000 – 150,000$ 100,000 – 100,000$ 50,000 – 80,000$ 37,400 - 37,400$ 598,960 – 905,960
proposed projects FY 14-15 Option 1
Option 2Slide6
Funds as related to the whole
proposed projects FY 14-15Slide7
Funds as related to the whole
proposed projects FY 14-15Slide8
Unknown Projects
- Such as the Town Park Project
proposed projects FY 14-15
These are projects not contemplated as “staff recommended” but may be projects the Council decides to pursue during the course of the upcoming fiscal year
Option 1
$ 100,000
$
598,960
$ 698,960
Option 2
$ 100,000
$
905,960
$ 1,005,960Slide9
Good Project Planning Helps to Answer Your Question:
“Can We Afford This?”
proposed projects FY 14-15
Project selection and prioritization by council gives council direction to target spending
Improves staff efficiency as staff implements council directed projectsWhen new projects comes up, council can look at selected projects and choose If they want to replace a selected project with a new project