RES 17954 - Laserfiche WebLink

BUDGET SUMMARY CO FY 2017/18 & FY 2018/ 19 Operating Budget Q m The Two-Year Operating Budget (Operating Budget) is projected to be $174.9 million in FY CD 2017/18 and $172.1 million in FY 2018/19 which represents a 3.1% decrease from the FY 2016/17 Midyear Budget and another 1.6% decrease from the FY 2017/18 budget. The Operating Budget is comprised of a number of funds that are summarized in the following four major categories: Total Budgeted Expenditures (In Millions) FY 2017/18 FY 2018/19 FY 2015/16 FY 2016/17 Total Total % of Fund Category Actuals Midyear Expenditures % of Budget Expenditures Budget General Fund $99.8 $103.8 $107.9 62% $110.4 64% Enterprise Funds 34.1 39.4 45.7 26% 42.1 24% Internal Service Funds 33.4 25.5 18.1 10% 17.0 10% Special Revenue Funds 7.9 11.8 3.2 2% 2.6 2% Totals $175.2 $180.5 $174.9 100.0% $172.1 100.0% The only funds that are not included in the Operating Budget are the Capital Improvement Funds. There are several increases in the FY 2017/18 and FY 2018/19 operating budgets related to salary and fringe benefits pursuant to adopted labor agreements as well as increased PERS pension rates. In addition, there are several non-labor increases related to contractual services. The decrease of$7.4 million in Internal Services Funds from FY 2016/17 to FY 2017/18 is are primarily related to the following one-time expenses in FY 2016/17 that are not included in the FY 2017/18 budget: $2.9 million to prefund the City's pension liability, $1.2 million for the City's new financial integrated financial system, Tyler Munis, and $1.4 million in fewer large equipment and vehicle purchases primarily related to LPFD. The decrease of $8.6 million under the Special Revenue Funds category between FY 2016/17 to FY 2017/18 is related to the Kottinger Housing Project that is funded through the Housing Fund in FY 2015/16 and 2016/17. Those were one-time appropriations. General Fund General Fund operating revenues are projected to total $115.2 million in FY 2017/18, a 3.1% increase over the FY 2016/17 Midyear Budget, and $117.2 million in FY 2018/19. General Fund operating expenditures are projected to total $107.9 million in FY 2017/18, a 4% increase over the FY 2016/17 Midyear Budget, and $110.4 million in FY 2018/19. The following charts present a comparison of the revenues and expenditures for the five year period ending FY 2018/19.