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Ord 737 Revising the Budget for Fiscal Year 13-14 and Adopting the Budget for Fiscal Year 14-15AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS, REVISING THE BUDGET FOR THE 2013-2014 FISCAL YEAR; ADOPTING THE BUDGET E !R THE TOWN OF WESTLAKE, TEXAS FOR THE FISCAL .; BEGINNING OCTOBER F4 AND ENDING SEPTEMBER 30, 2015 INVESTMENT POLICY, , D BUDGETARY POLICIES, 1,. COMMITTED AND ASSIGNED FUND BALANCES; PROVIDING AUTHORIZATION TO THE TOWN MANGER TO APPROVE APPROPRIATED FUNDS UP TO $25,000; PROVIDING BUDGET i BE KEPT IN CITY SECRETARY'SOFFICE; DATE.PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE WHEREAS, public notice of a public hearing on the proposed annual budget, stating the date, time, and place and subject matter of the public hearing, was given as required by the laws of the State of Texas and; and WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein on September 22, 2014; and, WHEREAS, as required by Texas Local Government Code 102.002, the budget officer has prepared a municipal budget to cover the proposed expenditures of the municipal government for the succeeding year; and, WHEREAS, the Town Council finds that the passage of this Ordinance is in the best interest of the citizens of Westlake. NOW, !' ORDAINED BY THE TOWN COUNCILOF TOWN OF TEXAS: SECTION l: That, all matters stated in the Recitals hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety SECTION 2: That the Town Council hereby adopts the revised budget for the fiscal year beginning October 1, 2013 and ending September 30, 2014 as shown within Exhibit "A. " SECTION 3: That the Town Council does hereby approve the proposed Municipal Budget attached as Exhibit "A", adopting the budget for the fiscal year beginning October 1, 2014 and ending September 30, 2015. SECTION 4: That the Town Council hereby gives the Town Manager authorization to approve any appropriated funds up to the amount of $25,000. Ordinance 737 Page 1 of 2 SECTION 5: That a copy of the official adopted 2014-2015 budget document shall be kept on file in the office of the Town Secretary. SECTION 6: If any portion of this Ordinance shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Ordinance without the invalid provision. SECTION 7: That this Ordinance shall become effective from and after its date of passage. 4S, Kelly UwardUqTown Secretary Laura L. Wheat, Mayor Thomas E. Brtl/own Manager x As Ordinance 737 Page 2 of 2 THE TowN or STLAKE ITY e 05 M_Zrq, //?4 Z' w (L0 J d Z Z a left A T E D 09- 'fe2-2014 Y VAL a MISSION ♦ iu.. .:. STRATEGY THE TowN OF WESTLAK'E * 3 VILLAGE CIRCLE #202 * WESTLAKE, TEKAs 76262 * WWW.WESTLAKE-TX.ORG 1n i This page is intentionally blank TOWN OF WESTLAKE FISCAL YEAR 2014-2015 ANNUAL BUDGET This budget will raise more revenue from property taxes than last year's budget by an amount of $36,595, which is a 2.73 percent increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $43,951. TOWN COUNCIL RECORD VOTE The members of the governing body voted on the proposal to consider the budget as follows: FOR: Michael Barrett Rick Rennhack Wayne Stoltenberg AGAINST: None PRESENT but abstained from Voting: None ABSENT: Carol Langdon Alesa Belvedere PROPERTY TAX RATE COMPARISON Adopted Adopted Tax Rate „ FY 14/15 ,&FY 13/14 Property Tax Rate $0.15634/100 $0.15684/100 Effective Tax Rate Effective Maintenance & Operations Tax Rate Rollback Tax Rate: Debt Rate: $0.15634/100 $0.16070/100 $0.14238/100 $0.14836/100 $0.18277/100 $0.18802/100 $0.01924/100 $0.01804/100 MUNICIPAL DEBT OBLIGATIONS The total amount of outstanding municipal debt obligations (including principal and interest) secured by property taxes is $166,969. BUDGET GUIDE & TABLE OF CONTENTS 1. FOREWORD Westlake Vision, Values and Mission Statement Westlake Elected Council Members Westlake Boards and Commissions • Westlake Administrative Officials GFOA Distinguished Budget Presentation Award • Community Profile - We believe the ability to monitor and evaluate the financial condition of a local government is critical to that government's successful, prosperous future. Achieving not only fiscal health but also fiscal wellness is a top priority in Westlake. Recognizing that trends can provide early warning signals of possible financial problems, staff regularly monitors economic indicators, interest rates, fuel costs, labor and employment numbers, building permits, home values, and retail sales. A portion of this data is featured in the charts located in this section of the budget document. These charts offer a quick, effective visual of the Town's financial condition. A list of Council members, an organizational chart, location and a history of the Town is also provided. This section begins on page 9. 2. INTRODUCTION Transmittal Letter - is written to the Town Council by the Town Manager and provides a high- level preview of the Town's proposed budget. It contains information including the Ad Valorem Tax rate, fund summaries as well short term and long term trends. The letter helps tie together the core elements which make up the budget and illustrates how those elements further the Town's goals found within the strategic management system. This section begins on page 21. • Budget Overview - This section attempts to help explain the meaning behind the numbers which are presented in this budget document. It gives perspective to the Town's budgeting process, basis of budgeting and accounting, how the budget is amended and the fund accounting system. This section begins on page 37. • Strategic Plan - Several years ago the Town adopted a Strategic Management System (SMS) which drives the way the Town conducts its business. The department directors contribute to the SMS by developing a corporate business plan and aligning their yearly budget proposals to that plan. This section begins on page 49. Personnel and Organization - Given the funding constraints governments are facing, accurate expenditure projections are more important than ever. Since salaries make up the greatest portion of the expenditure budget, it is logical to apply forecasting techniques that can provide a true picture of where payroll dollars are headed. GFOA encourages every government to consider forecasting procedures that would result in more accurate expenditure projections, especially as they relate to personnel. This section begins on page 57. l 4� BUDGET GUIDE & TABLE OF CONTENTS • Financial Summaries and Analysis - This section gives an analysis of the amounts between the FY 13/14 adopted and estimated budget, as well as the variance explanations between the FY 13/14 estimated and FY 14/15 adopted budget. Several different tables are presented of all fund revenues, expenditures and fund balance amounts. This section begins on page 70. FUND SUMMARIES Why does the Town account for revenues and expenditures in so many different funds? These funds provide a mechanism for the Town to segregate revenues generated from a variety of sources and also provide a means for the Town to track expenses directly related to those funds sources. For comparative purposes, the prior fiscal year's audited figures are illustrated, as well as current year budget, revised current year and projected budget for the impending fiscal year. The Fund Summaries section encompasses sections 3 through 9. 3. GENERAL FUND The Town's principal operating fund, which is supported by taxes, fees, and other revenues that may be used for any lawful purpose. The fund of the Town that accounts for all activity not specifically accounted for in other funds. It includes such operations as police, fire, planning, finance and administration. It is Town policy to maintain an undesignated fund balance (reserves) for emergencies or unforeseen circumstances equivalent to 90 operating day fund balance. This section begins on page 83. 4. SPECIAL REVENUE FUNDS This section provides a detailed spending plan for funds which account for proceeds of specific revenue sources that are legally restricted for certain purposes. • 4B Economic Development - The 413 Economic Development Fund collects a'/2 cent sales tax to be allocated to qualified development projects. The 413 Fund has been committed to the repayment of the debt incurred for the Town's Civic Campus project. Page 169 • Economic Development - The Economic Development Fund was set up to maintain all receipts and disbursement of funds pertaining to agreements between the Town and various corporations for economic development. Page 173 • Lone Star Public Facilities - This fund was set up initially with donations from several involved corporations that were going to benefit from tax-exempt bonds. The Lone Star Public Facilities Corporation was founded in 1996 and was designed "to provide for the acquisition, construction, rehabilitation, repair, equipping, furnishing and placement in service of public facilities in an orderly, planned manner and at the lowest possible borrowing costs." Page 177 • Visitors Association Fund - The Visitors Association Fund was established in late FY 1999-2000 and collects a 7% hotel occupancy tax from the Marriott Solana and any future Westlake hotels. Page 181 GUIDEBUDGET TABLE t 5. DEBT SERVICE FUND AND DEBT SCHEDULES This section provides a summary of the annual principal and interest payments for all outstanding bonded debt and capital leases. Also included are some fast facts about the Town's use of debt and how that debt is funded both through property tax revenue and through dedicated, self- supporting revenue streams such as sales tax revenues. The Town issues general obligation bonds and certificates of obligation to provide for the acquisition and construction of major capital facilities and infrastructure. This section begins on page 185. 6. ENTERPRISE FUNDS GAAP requires state and local governments to use enterprise fund types to account for "business -type activities". These activities include services primarily funded through user charges. Water and sewer utilities are common examples of government enterprises. Cemetery Fund - The Cemetery program includes all operations associated with the 5.5 acre cemetery located on J.T. Ottinger Road. This includes interment, lot sales, record keeping, and all maintenance associated with the grounds, fences, trees and flower beds. The cemetery was donated and conveyed by deed to the Town during FY2008-09. Page 193 • Utility Fund - The Utility Fund is an enterprise or business fund. This means that the direct beneficiaries of the "business" pay for all costs through fees or rates. Water, sewer service, and garbage service revenues generated through our rates, as well as the expenses for providing these services are accounted for in the Utility Fund. As with the General Fund, prudent financial management and bond requirements make it necessary to have healthy reserves. Page 197 7. INTERNAL SERVICE FUNDS Internal service funds are used for operations serving other funds or departments within a government on a cost -reimbursement basis. • Utility Major Maintenance - The Utility Maintenance & Replacement Fund (UMR) was created to provide a mechanism for repair and replacement of capital assets such as pump stations, lift stations, elevated and ground storage facilities, etc. Page 207 • General Major Maintenance - The General Maintenance & Replacement Fund (GMR) was created to provide a mechanism for the long term repair and replacement of large capital assets such as HVAC, walls, floors and ceilings, plumbing, electric, roadways, etc. Page 213 8. WESTLAKE ACADEMY FUND This section begins on page 217. This fund was incorporated into the Town's budget beginning in FY 2010-11. Westlake Academy opened its doors in September 2003 when the Town of Westlake officials took advantage of the State of Texas' acceptance of chartered schools and thus, became the first and only municipality in the state to receive a chartered school designation. iv BUDGET CONTENTS 9. CAPITAL PROJECT FUNDS The Capital Projects funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by proprietary fund types). Capital Project Fund - This fund tracks the infrastructure and building projects funded with general fund operating transfers, intergovernmental revenue, bond funds and other special fund sources. Capital projects are those projects over $25,000 that may extend over one fiscal year to complete and reflect multiple expense categories such as engineering, design and construction. All capital projects illustrate not only the expenditure and revenue sources, but ongoing operational impact. Page 243 • Westlake Academy Expansion -Bond Proceeds of $8.5M were received in FY12/13. These proceeds were used to fund construction of three new buildings at Westlake Academy with the final expenditures continuing into FY 14/15. Page 255 10. CAPITAL IMPROVEMENTS PROGRAM A Capital Improvements Program (CIP) is for the purchase, construction or replacement of the physical assets of the Town. This section includes a listing of projects for the current year as well as projects that are planned for implementation over a five-year period. Town staff plans for a five- year period, but has also identified a number of projects that cannot be addressed given funding limitations. This section begins on page 259. 11. LONG TERM PLANNING The Long -Range Financial Forecast takes a forward look at the Town's revenues and expenditures. Its purpose is to identify financial trends, shortfalls, and issues so the Town can proactively address them. It does so by projecting into the future the fiscal results of continuing the Town's current service levels and policies, providing a snapshot of what the future may look like as a result of the decisions made in the recent past. This section begins on page 271. 12. APPENDIX The appendix includes Westlake's fiscal and budgetary policies, investment policy, and a glossary of terms. This section begins on page 281. v �V., D BuDGET GUIDE & TABLE OF 1. FOREWARD 01 Vision Statement and Vision Points 02 Value Statements and Mission Statement 03 Council Member and Boards & Commissions 04 Administrative Officials 05 GFOA Distinguished Budget Presentation Award 09 Community Profile 2. INTRODUCTION .: Transmittal Letter 21 Introduction: Budget Approach, Format and Methodology 22 Investments and Achievements 23 Budget Theme, Trends and Overview 25 Community Growth on the Horizon 27 Budget Overview 29 Expansive Look in the FY 14/15 Budget and Strategic Directives 31 Ad Valorem Tax Analysis 32 Adopted Budget in a Multi -Year Context 32 Closing Thoughts 34 2013 Citizen Survey Results regarding Town Services 35 2013 Citizen Survey Results regarding Satisfaction .: Budget Overview and Framework 37 Basis of Accounting/Budgeting 39 Budget Fund Structure 40 Relationship between Funds and Departments 41 Governmental Fund Types 43 Proprietary Fund Type 44 Balanced Budget and The Budget Process 44 Budget Amendment Process 45 Financial Policies and Investment Policies 46 Effect of Planning Processes on the Operating Budget 47 FY 14/15 Budget Calendar .: Strategic Plan 49 Balanced Scorecard 50 Mission, Vision, Values 51 Strategic Perspectives and Themes 52 Objectives and Performance Measures 53 Strategy Map 54 Budget Cycle Vi E7 .: Personnel and Organization 57 Personnel Summary Overview 59 Employee Allocations 60 Municipal Employees 61 Employee Benefits 61 Compensation Plan 64 Organizational Chart 65 Personnel Position Summary 66 Recommended 5 Year Staffing Levels Financial Analysis and Summaries - All Funds 70 Three Year Analysis Comparison 71 Three Year Analysis Comparison by Fund Type 73 Current Year Analysis 75 Fund Balance Comparison 76 Revenue and Other Financing Sources 77 Expenditures and Other Financing Uses 80 Property Tax Analysis 3. GENERAL FUND 83 Program Summary 84 Fund Overview 90 Dept 10 - General Services 94 Dept 11 - Town Manager 100 Dept 12 - Planning and Zoning 106 Dept 13 - Town Secretary 112 Dept 14 - Emergency Service 118 Dept 15 - Municipal Court 124 Dept 16 - Public Works 128 Dept 17 - Facilities Maintenance 134 Dept 18 - Finance 140 Dept 19 - Parks and Recreation 146 Dept 20 - Information Technology 152 Dept 21 - Human Resources and Administrative Services 158 Dept 22 - Communications and Community Affairs 164 Dept 23 - Police Services BUDGET GUIDE & TABLE OF 4. SPECIAL REVENUE FUNDS .: 4B Economic Development Fund 200 169 Program Summary 170 Fund Overview .: Economic Development Fund 210 173 Program Summary 174 Fund Overview Lone Star Public Facilities 418 177 Program Summary 178 Fund Overview Visitors Association Fund 220 181 Program Summary 182 Fund Overview 183 Program Budget 5. DEBT SERVICE FUND 185 Program Summary 186 Fund Overview 187 20 Year Annual Debt Requirement 188 Debt per Capita 190 Long Term Debt Summary 6. ENTERPRISE FUNDS .: Cemetery Fund 255 193 Program Summary 194 Fund Overview .: Utility Fund 500 197 Program Summary 198 Fund Overview 201 Program Budget 202 Debt Payable Schedule - Ground Storage Tank 203 Debt Payable Schedule - Keller Overhead Storage 204 Project - Meter Reading & Equipment 205 Project - TRA Assumption of N 1 Sewer Line viii E7 t �r BUDGET TABLE 7. INTERNAL SERVICE FUNDS .: Utility Maintenance & Replacement Fund 510 207 Program Summary 208 Fund Overview 208 Lift Station Discharge 211 Five Year Projection .: General Maintenance & Replacement Fund 600 213 Program Summary 214 Fund Overview 215 Five Year Projection 8. WESTLAKE ACADEMY FUND 199 217 Program Summary 218 Fund Overview 219 Executive Summary 9. CAPITAL PROJECT FUNDS .: Capital Project Fund 410 243 Program Summary 244 Fund Overview 245 Five Year Projection 246 FM 1938 Streetscape/Wayfinding 247 S. Roanoke Road Recon & Drainage 248 Sam School Road Recon & Drainage 249 E. Dove Road Recon & Drainage (Vaq - TB) 250 Park and Trail Improvements 251 Outdoor Warning System 252 Water Line & Well Improvements 253 Fire Station Complex .: Westlake Academy Expansion Fund 412 255 Program Summary 256 Fund Overview 257 Five Year Projection ix E7 t �r BUDGET TABLE 10. CAPITAL IMPROVEMENTS 259 Capital Improvement Plan Overview 264 Approved Capital Projects - 5 Year Projection 265 Unfunded Capital Projects - 5 Year Projection 266 Parks/Cemetery Overview 267 Facilities Overview 268 Vehicle and Equipment Overview 269 Utility Improvements Overview 1 1 . LONGTERM PLANNING 271 Financial Forecast Narrative 274 Financial Forecast - All Municipal Funds 12. APPENDIX 281 Fiscal and Budgetary Policies - Town of Westlake 294 Investment Policy 299 Glossary of Terms 305 Ordinance No. 737 to Adopt Budget x E7 INTRODUCTION if3N P L VALVES 4"..VIS I O N err MISSION J. STRATEGY Twc TOWN CFE WESTLAKE * 3 VILLAGE CIRCLE #2- 2 * WESTLAKE, TExAs 76262 * WW .WESTLAKE-TX.ORG l D -P T iii I )9-22-2014 if3N P L VALVES 4"..VIS I O N err MISSION J. STRATEGY Twc TOWN CFE WESTLAKE * 3 VILLAGE CIRCLE #2- 2 * WESTLAKE, TExAs 76262 * WW .WESTLAKE-TX.ORG l VISION STATEMENT An oasis of natural beauty that maintains our open spaces in balance with distinctive developments, trails, and quality of life amenities amidst an ever expanding urban landscape. VISION POINTS A SENSE OF PLACE Distinctive neighborhoods, architecturally vibrant corporate campuses, grazing longhorns, soaring red-tailed hawks, meandering roads and trails, lined with natural stone and native oaks. ,,N- WE ARE LEADERS A premiere place to live, leadership in public education, corporate and governmental partnerships, and high development standards. ,,- WE ARE A CARING COMMUNITY �- Informed residents, small town charm and values, historical preservation. _�- �- EXEMPLARY GOVERNANCE - Town officials, both elected and appointed, exhibit respect, stewardship, vision, and transparency. ,-- SERVICE EXCELLENCE Public service that is responsive and professional, while balancing efficiency, effectiveness and financial stewardship. A VALUE STATEMENTS Transparent / Integrity -driven Government Fiscal Responsibility Family Friendly & Welcoming Educational Leaders Sense of Community nnov�ation ` y_ Strong Aesthetic Standards Informed & Engaged Citizens Preservation of our Natural Beauty Planned / Responsible Development MISSION STATEMENT Westlake is a unique community blending preservation of our natural environment and viewscapes, while serving our residents and businesses with superior municipal and academic services that are accessible efficient, cost-effective, and transparent. MISSION TAG LINE One -of -a -kind community; natural oasis - providing an exceptional level of service. 2 WESTLAKE COUNCIL MEMBERS Mayor Laura Wheat (wheat@westlake-tx.org Mayor Pro -Tem Carol Langdon clangdon@westlake-tx.org Council Member Michael Barrett mbarrett@westlake-tx.org Council Member Alesa Belvedere abelvedere@westlake-tx.org Council Member Rick Rennhack rrennhack@westlake-tx.org Council Member Wayne Stoltenberg wstoltenberg@westlake-tx.org WESTLAKE BOARDS Et COMMISSIONS Westlake Historical Preservation Society Westlake Academy Foundation Planning & Zoning Commission Texas Student Housing Authority 4B Economic Development Board 9 - Arbor Day Advisory Committee 9 - Public Arts Committee 3 WESTLAKE ADMINISTRATIVE OFFICIALS TOWN MANAGERS OFFICE Tom Brymer Town Manager tbrymer@westlake-tx.org Amanda DeGan Asst. Town Manager adegan@westlake-tx.org TOWN SECRETARY'S OFFICE Kelly Edwards Town Secretary kedwards@westlake-tx.org FINANCE DEPARTMENT Debbie Piper Director dpiper@westlake-tx.org Jaymi Ford Supervisor jford@westlake-tx.org Daniela White Acctg Technician dwhite@westlake-tx.org Melinda Brown Acctg Technician mrbown@westlake-tx.org MUNICIPAL COURT Sharon Wilson Administrator swilson@westlake-tx.org Troy Crow Marshal tcrow@westlake-tx.org Martha Solis Deputy Clerk msolis@westlake-tx.org COMMUNICATIONS AND COMMUNITY AFFAIRS Ginger Awtry Director gawtry@westlake-tx.org Susan McFarland Specialist smcfarland@westlake-tx.org HUMAN RESOURCES AND ADMINISTRATIVE SERVICES Todd Wood Director twood@westlake-tx.org Dana Thomas Generalist dthomas@westlake-tx.org PARKS & RECREATION AND FACILITIES MAINTENANCE Troy Meyer Director tmeyer@westlake-tx.org PLANNING AND DEVELOPMENT Eddie Edwards Director PUBLIC WORKS Jarrod Greenwood Director Paul Andreason Technician EMERGENCY SERVICES Richard Whitten Fire Chief Jason Martin Lieutenant Daniel Robertson Lieutenant Aaron Wilson Lieutenant INFORMATION TECHNOLOGY Jason Power Director Ray Workman Technician CUSTOMER SERVICE Sherry Lewis Coordinator Lauri Tillman Representative eedwards@westlake-tx.org jgreenwood@westlake-tx.org pandreason@westlake-tx.org rwhitten@westlake-tx.org jmartin@westlake-tx.org drobertson@westlake-tx.org awilson@westlake-tx.org 817-490-5720 817-490-5715 817-490-5710 817-490-5712 817-490-5721 817-490-5737 817-490-5728 817-490-5746 817-490-5716 817-490-5748 817-490-5710 817-490-5736 817-490-5711 817-490-5734 817-490-5735 817-490-5726 817-490-5720 817-490-5731 817-490-5785 817-490-5783 817-490-5783 817-490-5783 jpower@westlakeacademy.org 817-490-5750 rworkman@westlakeacademy.org 817-490-5751 slewis@westlake-tx.org Itillman@westlake-tx.org 4 817-490-5732 817-490-5730 GOVERNMENT FINANCE OFFICERS ASSOCIATION Distinguished Budget Presentation Award PRESENTED T4 Town of Westlake Texas For the Fiscal Year Beginning October 1, 2013 Ex=five ©irmor The Government Finance Officers Association of the United States and Canada (GFOA) has presented a Distinguished Budget Presentation Award to the Town of Westlake for its annual budget for the fiscal year beginning October 1, 2013. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communication device. This award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. 5 DISTINGUISHED BUDGET PRESENTATION AWARD The Government Finance Officers Association of the United States and Canada (GFOA) presented a Distinguished Budget Presentation Award to the Town of Westlake for its annual budget for the fiscal year beginning October 1, 2013. The Town has received this award for seven consecutive years (fiscal years beginning 2007-2013). In order to receive this award, the Town must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. THE BUDGET AS A POLICY DOCUMENT This criterion involves including a Town -wide statement of budget policies, goals and objectives for the year, and an explanation of the budgeting process to the reader, describing the short-term and operational policies that guide the development of the budget. The criterion also relates to the longer -term Town -wide policies that are expected to continue in effect for a number of years. The budget award criterion also requires the inclusion of a budget message and/or transmittal letter by the Town Manager. THE BUDGET AS A FINANCIAL PLAN This criterion involves including an explanation of the financial structure and operations of the Town, and the Town's major revenue sources and fund structure. The budget should contain an all -inclusive financial plan for all funds and resources of the Town, including projections of financial condition at the end of the fiscal year, projections of current year financial activity, and provide a basis for historical comparisons. The budget should also present a consolidated picture of all operations and financing activities in a condensed format and an explanation of the budgetary accounting basis, whether prepared on a generally accepted accounting principles (GAAP) basis, cash basis, modified accrual basis, or any other acceptable method. THE BUDGET AS AN OPERATIONS GUIDE This criterion involves including information in the document explaining the relationship between organizational units (departments) and programs; including an organization chart, a description of the departmental organizational structure and staffing levels, and historical comparisons of staffing levels; explaining how capital spending decisions will affect operations; providing objectives and performance measures; and describing the general directions given to department heads through the use of goals and objectives, reorganizations, statement of functions, or other methods. THE BUDGET AS A COMMUNICATIONS DEVICE This criterion relates to having the budget document available for public inspection; providing summary information suitable for use by interested citizens and/or the media; avoiding the use of complex technical language and terminology; explaining the basic units of the budget, including funds, departments or activities; and disclosing sources of revenues and explanations of revenue estimates and assumptions. The intent is to enhance the communication aspects of the budget document, so that information in the budget can be communicated to a reader with a non-financial background. This award is valid for a period of one year only. We believe our current budget document continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. 9 GFOA REVIEWER COMMENTS FROM FY13/14 BUDGET "This is by far one of the best budgets I have reviewed. I could see that the Town has taken the time to implement suggestions from budget reviewers. The content is thorough and well organized, and the presentation is superb. Excellent work!" This page is intentionally blank COMMUNITY PROFILE U-0 ADOPTED 0 0922 201 ' A VALUES VISION' I N MISSION STRATEGY .-�,p.f-_ i S' tri [♦ TF6E TOWN OF WESTLAKE * 3 VILLAGE CIR[LE #2- 2 * `kIWESTLAKE, TEXAS 76262 * w'UU`W.WESTLAKE-T'X.ORC 11 COMMUNITY PROFILE General Information The Town of Westlake is a one -of -a -kind community, an oasis with rolling hills, grazing longhorns, and soaring red-tailed hawks, located in the heart of the Fort Worth -Dallas metropolitan area. Inviting neighborhoods and architecturally vibrant corporate campuses find harmony among our meandering roads and trails, lined with native oaks and stone walls. We are leaders in education, known for our innovative partnerships between the Town -operated Charter school and our corporate neighbors. We are environmental stewards exemplifying the highest standards. Hospitality finds its home in Westlake, as a community, we are fully involved and invested in our rich heritage, vibrant present and exciting, sustainable future. DXk - Ponder P Herman L+ttle Elm Z87 F Drop New 'prgyleryFain•lew -kJuarnCcrral r_ityThe Colony dortnlakeBOO 81Bartonmlle Aurora Rhome Al CDl:eyville +ora Al 1 4 l5 Lewasvllle Hec..on Nor191 Blue k4oun� F Ji—n, J, —...x Lake ?• • 1' of Flower Richland H.I-s Sag .,aw Eu;ess 1A3 IrvingH nl t +1 HuGhard 4-1m :._ m,enG R.-no 11.. Hallom City Hurst _ 1Z Newa..k S7 Lake W rth k ^n'ana �/ Hill % _ pny a„° 77 d D t nh ngfan G hens '.Kl ,1 da e .,i Dallas 4 3rrolltort R=Lha-dson n-:hse Peden j�� Nagler Me.,qurtf: Southlake D74rAddison Village ro Pelican Ear Bay 2E1 3TT Keller Grapev`r9� F,,—,, I, u 1e.—t .a k. g•.,_m vallei Suhlett Duncanville�? Hutchlr�s'y 121 Brancr Rc Ftow'.ett Garland � fine Al CDl:eyville +ora Al 1 4 l5 �Il � 18ac z•. Nor191 Blue k4oun� F Ji—n, J, —...x Lake ?• • 1' of 77 Richland H.I-s Sag .,aw Eu;ess 1A3 IrvingH nl t +1 HuGhard 4-1m :._ m,enG Lakeside 11.. Hallom City Hurst _ 1Z a ` rl nrr. F m•.k S7 Lake W rth k ^n'ana �/ Hill % _ 4� .._ Spring, d D t nh ngfan G hens '.Kl l 121 .,i Dallas Edg Iff .Forest Hl River Oaks _ 9A Me.,qurtf: sen ent vvesmomh Fort Worth tW -- -- 2— Grand -- Arlington Pralrl@ as H1 77 ;�l P r r -� 175 Balch t gc 4� .._ Spring, lona B nlxnok 183 D t nh ngfan G hens '.Kl dAA I,j 4. -Rvr �i Edg Iff .Forest Hl te:-._. ATT Village Kennedsale'. Suhlett Duncanville�? Hutchlr�s'y Benbraok Ever— ane Pn.ol Wheatl d Iie92iY41r lake r 'a ShamrockDe�.DSp =-' Wiimff Crawley Cedar Hill Lancaster os� Mansfield Patrick Burleson Retro vlennV1Y fi7 Heights 7LJ 7 ,�'. + . ZH7 o.•llla Red O. Location Q'� r ' Can6lr4 \ 176 Wang Sour y 91 Westlake is conveniently located between DFW Airport and Alliance Airport, on the south side of State Highway 114, providing quick, easy access to all areas of the Dallas -Ft. Worth Metroplex. The unique location of Westlake is ideal for many of its major corporate campuses and residential communities. A common ideal shared by our corporate and individual residents is their support of the existing character and charm of the community as well as a commitment to excellence in new development. E History of Westlake COMMUNITY PROFILE In the beginning... The Town of Westlake has a short but fascinating history. The geographic region, known as the place where the cross timbers met the prairie, holds tales of settlers from the Peters Colony, Indian treaties signed by Sam Houston, tremendous archeological treasures, and some of the oldest settlements in north Texas. The region has always been known for its natural bounty, its trade value, and its wonderful people. The Town of Westlake and northeast Tarrant County has maintained that distinction over the years, becoming one of the most desirable and sought after places to live in America. Early Settlers... 1847 The Town of Westlake was settled by Charles and Matilda Medlin when they arrived in the area with about 20 other families in 1847. They initially settled along Denton Creek but moved south to higher ground after weathering ferocious floods from the creek. Until 1997, the three-story Medlin barn was a local historic landmark. When it had to be removed, after what was believed to be 130 years, for safety concern. Legends include those of Sam Bass and Bonnie and Clyde hiding in the barn. The 1870's... Dove Road was the cardinal road between Grapevine and Roanoke. The road took its name from the Dove Community which was located between the two towns. Dove Road originated in the 1870's and got its name from the Lonesome Dove Baptist Church located in the community. The 1930's... In the late 1930s, Ted Dealey, turned his attention to a lush and untouched piece of the Cross Timbers region. It was there he built a stunning country place designed by prominent architect, Charles Dilbeck. This place was known as the 220 Ranch. The Dealey Home, off Dove Road near Ottinger Road, is now known as Paigebrooke Farm. The 1940's - 1950's It was late in the 1940's after World War II, at about the same time that Dealey built his home, that Circle T Ranch had its beginnings with J. Glenn Turner. He used the place to raise and train Tennessee Walking horses, and as a retreat and showplace. Circle T Ranch was expanded throughout the 1950's to approximately 2,300 acres. In 1955, there were rumors of an attempt to annex Circle T Ranch; as a defensive move, J Glenn Turner organized the neighboring ranches and homeowners in the surrounding community into forming their own city. On the 27th day of December in 1956, citizens attended a meeting to declare the Town of Westlake into existence thru incorporation and to swear in the first Board of Aldermen. The area included what is known today as Westlake, plus the area north, to the northern shore of Denton Creek. This northern land was annexed from Westlake and formed the town of Trophy Club in the 1970's. IN COMMUNITY PROFILE The 1960's... In 1969, the Circle T Ranch was purchased by oil millionaire Nelson Bunker Hunt. The ranch became known for its glamorous parties attended by celebrities from all over the world. The 1970s ... In the early 1970's, the state decided to name one of Westlake's well-known streets after the person who was living in the first house on the road. That person was J.T. Ottinger. Also in the early 1970s, Houston developer and professional golfer Ben Hogan approached Westlake about building a golf course, country club, and a housing development. In 1973, Westlake annexed what is now known as the Town of Trophy Club, clearing the way for the upscale housing development and golf course. The 1980's ... In the mid-1980s, IBM built Solana, the multi use office complex. IBM maintained a large presence until the mid 1990's. At that time, several of the office buildings became available for use by other corporations. Eventually, IBM sold its partnership interest. The 1990's ... In 1989, Nelson Bunker Hunt declared bankruptcy and the Circle T Ranch was purchased by Ross Perot Jr. in 1993. In 1997, to the dismay of residents, there was an attempt to dissolve the Town of Westlake. Many court battles, including appeals to the Texas Supreme Court, were waged as emotions rose. Ultimately Town leadership prevailed. /fS!n - ILP_ -L [.- . / _.. .- The 2000's ... 2000 The Westlake Historical Preservation Society was established for the purpose of recording and preserving the rich history of the Town of Westlake. 2002 VIP's and residents of Westlake gather at the site of the new Westlake Academy to help raise the first wall of the school. Westlake approved the purchase of the first Fire truck and ambulance. Westlake Historical Preservation Society holds the first Annual Decoration Day on Memorial Day. Westlake Academy opens. The hope is that the new school will spur growth and unite the Westlake community. 2006 Celebrations began to commemorate the 50th anniversary of the incorporation of Westlake in December 1956. 2007 The Town of Westlake dedicated and sealed a time capsule containing a variety of special items. This time capsule will remain sealed until September 8, 2057, during the town's 100th anniversary celebration. 2009 Deloitte University announces Westlake as the site for its $300 million learning and leadership center. Westlake Academy Arts & Sciences Center was completed. 2010 Westlake's first gas well was successfully drilled in Solana. 2011 New retail growth began along the Town's western boundary with construction of a new Quick Trip convenience store and a Centennial Fine Wine & Liquor store. 2013 The Town's open enrollment charter school, Westlake Academy, completed its 10th year of operations. Completed construction on the State's $15 Million Phase 1 FM 1938 project. 2014 Installation of a secondary ground storage water tank. Began Phase I expansion construction of three buildings on the Westlake Academy campus that will accommodate new students. COMMUNITY PROFILE Westlake Local Government The Town of Westlake was incorporated in 1956 as a Type A general -law municipality under the rules of the state of Texas. The Town operates under the Council -Manager form of government. The Council is comprised of a mayor and five (5) council members and is responsible for, among other things, passing ordinances, adopting the budget, appointing committees, and hiring the Town Manager. The Mayor and Town Council members serve two (2) year terms. All elected officials are elected at large for a two year staggered term each May. The Town Manager is responsible for carrying out the policies and ordinances of the Council, for overseeing the day-to-day operations of the Town and appointing and supervising heads of various departments. The Council meets the 4th Monday of each month with the Mayor presiding at official meetings and work sessions. Laura Wheat Mayor Carol Langdon Mayor Pro -Tem Michael Barrett Alesa Belvedere Rick Rennhack Wayne Stoltenberg Council Member Council Member Council Member Council Member The Town provides to its citizens those services that have proven to be necessary and meaningful and which the Town can provide for the least amount of cost. Major services provided under the general government and enterprise functions are: Fire and emergency medical services, police, water and sewer utility services, park and recreational facilities, street improvements, education and administrative services. The Town utilizes a combination of direct service delivery along with outsourced services in its service delivery mix. The decision as to which service to deliver directly versus out -sourcing is based on analysis of cost-effectiveness, citizen responsiveness, and customer service quality. 12 COMMUNITY PROFILE Westlake Operations The Town of Westlake employees approximately105 full-time equivalent employees (municipal and academic) and provides a full level of public services to its citizens as well as operates the only municipally owned Charter School in the state. The Town of Westlake utilizes a private firm for solid waste collection and disposal, as well as contracts with Keller, a neighboring community, for police services. Westlake Community Events Westlake is a family -friendly environment where events are held to help get our residents out and participating in activities with their children and neighbors. Arbor Day... The Westlake Arbor Day Celebration is held each April. This annual celebration is an afternoon of activities, live entertainment, best cookie competitions, auctions, and a variety of great food. Kids' activities have included pony rides, face painting, games, crafts, and an obstacle course. In addition, there are educational sessions on tree care advice, and complimentary trees. Admission is free. Decoration Day... The Westlake Preservation Historical Society sponsors its annual "Decoration Day" event each Memorial Day in Westlake at the Odd Fellow Cemetery. This community event is a public commemoration of veterans, both past and present, who have served our country and defended our freedom and liberties. Activities include live music, treasure hunts for the kids, and a homemade ice-cream competition. Past events have included live reenactments of people and events pertaining to Westlake's history. The event ends at sunset. Masterwork Concert Series... The Masterworks Music Series is a variety of free music programs sponsored by the Town of Westlake, Maguire Partners, and ARTSNET. These free concerts are for arts lovers of all ages and feature instrumental a vocal music ranging from Country & Western to Blues & Jazz with the entertainment of local, regional and national artists. The concert season begins in April and features an exciting performance each Thursday through the month of May. Performances are held at the Solana Village Center. 13 COMMUNITY PROFILE Westlake Academy pervasive and will infuse the classroom curriculum. An environment rich with heritage, the Westlake Academy mission is to provide educational opportunities to each child in keeping with his or her individual needs. Westlake Academy is a premier learning establishment and prides itself on providing a learning environment where students have the resources and facilities to excel. The primary geographic service area for Westlake Academy is the town limits of Westlake; students from other locations may be considered if seats are available. Westlake Academy just completed it's 1 1'h year of operations. and graduated our 5th class of seniors with 53 students. Westlake Academy continues to have excellent academic and extra -curricular results and is ranked among the best high schools in America: Washington Post ranked us as 36th out of 1,900 schools across the nation. 14 The Westlake Academy is an Open Enrollment Charter School that opened f L September 1, 2003. Westlake Academy distinguishes itself among neighboring educational offerings with a particular focus on producing students who are globally minded. P The programs of the International Baccalaureate Organization (Primary Years �• ��® Program, Middle Years Program, Diploma Program) have been selected as the educational model utilized at the Academy. Educational technology will be pervasive and will infuse the classroom curriculum. An environment rich with heritage, the Westlake Academy mission is to provide educational opportunities to each child in keeping with his or her individual needs. Westlake Academy is a premier learning establishment and prides itself on providing a learning environment where students have the resources and facilities to excel. The primary geographic service area for Westlake Academy is the town limits of Westlake; students from other locations may be considered if seats are available. Westlake Academy just completed it's 1 1'h year of operations. and graduated our 5th class of seniors with 53 students. Westlake Academy continues to have excellent academic and extra -curricular results and is ranked among the best high schools in America: Washington Post ranked us as 36th out of 1,900 schools across the nation. 14 COMMUNITY PROFILE Westlake Facts, Figures, & Statistics The Town of Westlake has experienced exponential growth in the last decade; the national census reported 207 residents in 2000 and 992 residents in 2010. The Town is approximately 25% built out with the majority of development continuing to be corporate campuses. There has been an increase over the last decade in high-end residential development located around the Vaquero Golf Course and in Glenwyck Farms. The Town's focus on high-quality development has led to more than 1.4 million square feet of commercial space, valued at over $300 million, being added since 2005. The Town has seen a increase in building permits and the construction size and value have increased significantly over the last few years. In 2014, the average size of new home construction was 11,633 square feet with an average estimated construction cost of $1.789 million. Vaquero Estates Vaquero Estates Country Club F.M. 1938, Precinct Line Road construction began in FY 09/10 and creates a major north, south corridor. In addition, Deloitte University completed construction of their $160 million dollar, 160 acre, international training facility. The facility features over 800 rooms, office space, conference centers, amenity centers, as well as many parks, trails, and water features. This development represents another step towards Westlake's goal to become an education -centered community. Deloitte University Campus 15 COMMUNITY PROFILE Westlake Population and Employers Population The Town of Westlake has experienced exponential growth in the last decade; the national census reported 207 residents in 2000 and 992 residents in 2011. Average Age Percent 18 - 34 years 7% 35 - 54 years 50% 55 - 74 years 34% 75+ years 5% Source: 2013 Westlake Citizen Survey The Solana Office Complex was the first of many corporate headquarters built by IBM in the 1980's. Household Income Percent Under $50K 5% $50K - $149K 12% $150K - $500K 31% $500K plus 40% Source: 2013 Westlake Citizen Survey Westlake Employers The DFW Metro area is home to more Fortune 500 companies than any other area in the United States. Several major employers are located within the Town of Westlake as listed in the pie chart below. Since then Westlake has added several additional corporate residents that include the following... • Fidelity Investments, • Core Logic • T.D. Auto • Levi Strauss, Deloitte • and many more. G Top 3 Employers in Westlake Sales Tax Rate Sales & Use Taxes Many people don't know that most of their sales and use tax is remitted to the State of Texas; in fact, for every dollar of taxable sales, the state receives six and one quarter cents (or 6.25%) In the State of Texas local municipalities have the option to adopt up to an additional two cents for 2%) for local use for a total maximum combined rate of 8.25%. This local tax must be in accordance with state law and be utilized for specific purposes as identified by the state's local government code. 4B Economic Development Fund - This fund utilizes the revenues generated from a '/2 cent sales tax to fund qualified development projects. Currently, the 4B Fund is committed to the repayment of the debt incurred for the construction of Westlake Academy. General Fund Allocation - The Town levies 1 '/2 % in sales tax that is utilized to offset expenditures in the General Fund and is used to reduce the property tax burden on local residents and businesses by providing Westlake with an additional unrestricted revenue source. 17 Hotel Occupancy Tax In addition to sales and use tax collections, the Town receives a 7% hotel occupancy tax from the Marriott Solana and any future hotels in Westlake. This revenue is recognized in the Visitors Association Fund and is used to help fund a shuttle program for hotel guests as well as other marketing and promotional activities. COMMUNITY PROFILE Property Tax The Town of Westlake instituted a property tax in 2010. Y The current adopted rate for FY 2014-2015 is $.15634 y Maintenance and operations (M&O) is $0.13710 Debt service or interest & sinking (I&S) is $0.01924 Jurisdictions The Town of Westlake contracts with the Tarrant County Tax Assessor Collector's Office to collect the Town's portion of local property tax. There are multiple taxing jurisdictions within Westlake's boundaries; whether or not a business or residence is required to pay tax to a particular jurisdiction is determined by where they are located within Westlake and the boundaries of the respective taxing jurisdictions. Currently, the following taxing jurisdictions collect property taxes in Westlake: r Independent School Districts; Carroll, Keller and Northwest r Tarrant County; College and Hospital Denton County and Trophy Club MUD 1 Westlake residents can determine which taxing jurisdictions apply to their property as well as obtain current property tax rate information by conducting a property search on the appropriate appraisal district website: Denton Central Appraisal District or Tarrant Appraisal District. Homestead Exemptions The Westlake Town Council approved a homestead exemption of 20%, which is the maximum amount allowed by the State of Texas. Tax Freeze The Town Council also approved a tax freeze for all residential accounts identified as over 65 by the tax appraisal district. To learn more information about the tax freeze or find out if you qualify, please visit the following websites: Denton Central Appraisal District or Tarrant Appraisal District. FY2015 Ad Valorem Tax Comparison per $100 ■Trophy Club 0.5 ■ Southalke ■ Flower Mound 0.4 a Keller w Roanoke 0.3 w Colleyville W Grapevine 0,2 0.15634 u Haslet Westlake 0.1 In This page is intentionally blank IM Fm w 0 TRANSMITTAL LETTER t.� islilTY -t I&- �. t- ;._.. VISION 3_ MISSION N STRATEGY THE TowN OF WESTLAKE * 3 VILLAGE CIRCLE ##202 * WESTLAKE, TExAS 76262 * WWW.WESTLAKE-TX.ORG I TRANSMITTAL LETTER September 22, 2014 Honorable Mayor and Town Council: I. INTRODUCTION: BUDGET APPROACH, FORMAT, AND METHODOLOGY On behalf of the Town of Westlake's Senior Leadership Team, it is my pleasure to submit for your consideration the FY 2014-15 Budget. This year's budget theme is "Community Growth on the Horizon". Our community is growing through the addition of a new housing development, potential mixed-use project, and the completion of expansion at Westlake Academy. We are also experiencing organization growth with the high performance organization framework and our strategic visioning with the Balanced Scorecard. Budget Approach As required by State law, the Town's FY 2014-15 municipal budget has been prepared with the base assumption that the Town's first priority is to have a balanced budget. The budget has also been prepared according to these criteria: It is our priority to fund and deliver high quality core municipal services along with academic services for our citizens, students and stakeholders. Service levels are in alignment with residential feedback regarding priorities from our most recent 2013 Direction Finders (citizens') survey results and the Town's strategic planning efforts through our comprehensive work in identifying strategic themes, outcome objectives, and staff initiatives. Budget Format: Governing & Managing for Outcomes As our community has grown our organization has developed a comprehensive governance system through the use of our citizen survey results, policy development by the governing board, and our strategic framework with a strategy map to help guide staff efforts to achieve our mission and vision for the Town. Our system also integrates the following elements: • Five (5) year financial, personnel, and equipment forecasting, budgeting, and performance measurement linked to strategic priorities, objectives, and outcomes to ensure a long term approach that provides financial sustainability • Aligning resources to prioritized outcomes • Reporting to monitor progress in outcome achievement and accountability for results • Utilizing citizen surveys to gauge service satisfaction levels with Town services and resident willingness to pay for those services • Maintaining core services • Funding and implementing a Five (5) Year Capital Improvement Plan (CIP) and major maintenance and replacement Budget Methodology Certain assumptions, parameters, and approaches were utilized as the budget document was prepared, which are consistent with our overall Town philosophy of focusing on fiscal stewardship and responsibility while providing services for our community. These include: . Readily identifying and tracking cost increases as they relate to maintaining or increasing services 21 TRANSMITTAL LETTER • Identifying the use of fund balance(s), inter -fund transfers, employee compensation increases • Adherence to the Council's financial policies • Maintaining minimum fund balances that exceed the Council policy requirements (90 day fund balance) • Conservative revenue estimating that identifies one-time and on-going revenues • Review of all base budgets, as well as service level adjustments due to cost increase and/or inflation. Programs of service were analyzed and 'scrubbed' during budget review sessions with the Senior Leadership Team. • Estimated expenditures for current levels of service in FY 2014-15 were achieved by: o Adjusting for actual spending in FY 2013-14 o Deducting one-time FY 2013-14 expenditures to create the base budget for the coming fiscal year. Any anticipated cost increases (due to inflation or program cost escalations) were identified and separated from the current base budget in the form of Service Level Adjustments (SLA's). Fund Balance Policies As a small community, we are always mindful of our existing resources and the goal we hold to be fiscally responsible. All budgetary expenditures are submitted while keeping these factors in mind and our need to maintain a healthy fund balance is monitored on a consistent basis. The policy document contains our management philosophy as it relates to being fiscally conservative, which is thoroughly explained to any new employee and routinely discussed with existing staff when expanded service levels are proposed. For instance, we consistently look to leverage intergovernmental relationships through the utilization of our surrounding municipalities for service provision and/or through the use of public-private partnerships with our stakeholders. We routinely monitor our fiscal position and report our efforts to the Council on a quarterly basis. Our Capital Improvement Plan (CIP) is prepared prior to our budget discussion to ensure we have an accurate long-term view on infrastructure needs and the impact to our operating finances and we have created capital replacement funds with an annual analysis of fleet, facilities, and equipment needs. Our revenue stream projections are prepared in a conservative manner to provide our elected officials with an accurate overview of our positions and to avoid any potential negative impact to our collection efforts that would create a budget shortfall. In looking toward our debt management policies, our CIP projects are prioritized and evaluated each year in tandem with our current debt service levels and in the review of potential new investments over an extended period of time. One of our guiding principles is to provide a comprehensive financial document that ensures we continue to serve the Westlake community with the necessary resources. II. INVESTMENTS AND ACHIEVEMENTS Over the previous fiscal year, the Town has achieved and/or is continuing to work toward important initiatives and projects that will allow us to balance our "distinctive development, trails, and quality of life amenities amidst an ever expanding urban landscape." These include: • Achievement and recognition for our transparency efforts and our fiscal stewardship through receipt of the following: 22 TRANSMITTAL LETTER o Distinguished Budget Presentation Award from the Governmental Finance Officers Association (GFOA) marking the 7th year in a row that we have received this honor for our municipal budget and the 5th year for our educational services budget (Westlake Academy). o International Award for Budget Excellence from the Association of School Business Officials International for the past five years. o Certificate of Achievement for Excellence in Financial Reporting for our Comprehensive Annual Financial Report (CAFR), also known as the annual audit which has also been recognized through GFOA for the last six years. o Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR), by converting much of the CAFR document into an easy -to -read format for our residents. This was the Town's second year to achieve this award. • Invested in an update of our current Comprehensive Planning document as we began working with the Town Council, residents, and appointed steering committee members to memorialize our community vision in the new document. Our current version was compiled in 1992 and many changes have occurred since that time. Progress continues through the facilitation efforts of an outside consultant and the committee with the final completion planned for FY 2014-15. • Invested in the third iteration of our strategic plan through the use of the Balanced Scorecard system. Council members worked with an outside consultant to create strategic themes and updated our vision, mission, and values statements for Westlake. Staff then identified outcome objectives, created a Tier One Strategy Map, and developed performance measures for Council adoption. • Invested in the Town's open enrollment charter school as Westlake Academy, completed its 11 th year of operation and graduated our 51h class of seniors with 53 students. o Westlake Academy continues to have excellent academic and extra -curricular results and is ranked among the best high schools in America: Washington Post ranked us as 36th out of 1,900 schools across the nation. • Invested in the Town's CIP ($10.5M) mainly through focus on the expansion of our physical plant at Westlake Academy ($8.2). o Invested approximately $1.6M in streetscape improvements on FM 1938 (Davis Blvd) with median plantings and sidewalk installation, which is now in its final stages of completion. o Invested a total of $500K in the Town's infrastructure through enhancements on SH 114/170 in partnership with our surrounding communities for bridge and overpass paintings, plantings in medians and entry monuments. • Installation of a secondary ground storage water tank for future sustainability and service provision levels. III. BUDGET THEMES, TRENDS, & OVERVIEW As stated previously, the theme for the budget is "Community Growth on the Horizon". In 2010- 1 1, the Council set an ad valorem tax rate to address our financial sustainability, and also began investing in our infrastructure through our Capital Improvement Plan to help maintain the sense of place for Westlake. We have also experienced growth in residential developments, a potential mixed-use project, physical plant expansion at the Academy and multiple avenues of organizational growth. 23 TRANSMITTAL LETTER Prior Fiscal Year's Budget Theme Over the last several years, we have incorporated a 'theme' into our budget document identifying the current trends or issues facing our community and as a method to focus our service provision levels for our community. The last few themes are shown below: • FY 2011-12 "Investing in Our Future" (ad valorem property tax implemented to stabilize our revenue streams and provide for financial sustainability) . FY 2012-13 - "Driving Service Excellence" (focused on our ability to deliver excellent customer service) FY 2013-14 "Moving Forward Together: A Growing Community, A Growing School" (expansion at the Academy and infrastructure reinvestment) Fiscal Year's Budget Theme Over the past year, our community has had the opportunity to invest in our growth through the approval of zoning for a new single family housing development and potentially a mixed-use project. This type of growth pattern will provide for another 82 homes in Granada, at the corner of Solana Blvd. and FM 1938/Davis Blvd., with substantial exterior public open -space, trails and water amenities. The Entrada mixed-use development, along SH 114, is planned to be constructed over the next several years. It would include both commercial and residential components and feature a Spanish village theme. At Westlake Academy, we are in the final stages of completing approximately 35,000 square feet of academic space to allow for decompression in the school, multi -use space for the primary students, and a field house for athletic instruction/events. We are also expanding student enrollment by approximately 100 students for SY 14-15. Our staff team development has also experienced substantial growth with the high performance organization (HPO) model and strategic visioning strides with the Balanced Scorecard system. The implementation of the HPO processes has resulted in extensive team building opportunities, expanded collaboration in service delivery methods, and the encourage of leadership at all levels of our organization. As a result, we restructured our customer service staff members to streamline their efforts in the main municipal lobby, developed a staff driven mission `tag line', and are working toward creating team centered value statements. The HPO method allows us to convey the importance of leadership and customer centered service delivery for our residents. As a component of these efforts, the Balanced Scorecard has been deployed as a lever to enhance our HPO development. A comprehensive strategic plan is an important system within the HPO framework. Both of these organizational growth and professional development efforts will help to focus our staff initiatives in the stated direction of our vision for the community. The selection of any budget theme is intended to bring into focus how resources are recommended to be prioritized and used in order to take the next step in achieving or creating our vision, mission and community values for Westlake. These significant growth opportunities lend itself to our budget theme for FY 14-15. 24 IV. "COMMUNITY GROWTH ON THE H1 FY 2014-15 Short Term Trends and Planning Over the history of our Town, municipal budgets have been prey being fiscally conservative, while providing the high quality cust( have come to expect in Westlake. As a component of our bud( trends to be stewards of our community. Some of these factors . Reinvestment in our community through the replacement of the coming fiscal year. As our rolling stock continues to ag( assets in order to maintain the exceptional levels of service replacement truck will allow us to rotate the current vehicle experiencing multiple repair events. • Housing Start Increases: Westlake is expecting continued single family residential construction as a result of Granada. This is depicted in the side -chart - prerecession starts were at 38 per year and we are estimating 50 for the coming fiscal year. . Permanent Population Growth: The North Central Council of Governments has updated Westlake's 2010 Census from 992 to 1,051. This is the portion of our population that i! considered to be our permanent residence. An increase it the present 1,051 represents a 400% increase. • Daytime Population: Because Westlake is the home of man, campuses, its Monday -Friday daytime population swells to ( individuals. These office complexes are comprised of notal include Deloitte LLP, Core Logic and Fidelity Investments. Si corporate stakeholders and attempt to identify avenues to strengthen these relationships and assist in drawing new corporations to Westlake. Continued Impact of Westlake Academy on Residential Growth: The number of Westlake residents who are selecting Westlake Academy as the educational choice for the students has doubled in the past five years. Resident surveys indicate that the Academy is one of the main reasons they moved to Westlake, and why they plan to remain in our community. Increase in Westlake Academy Overall Enrollment: The Academy has experienced steady enrollment growth from 491 in SY 2009-10 to a projected 822 in SY 2014-15. The current increase of student population is a result of the Phase I expansion efforts on the Academy campus. We are completing the construction of three buildings that will accommodate the new students. The lottery waiting list for admissions continues to grow from 700 in 2010 to over 2,100 students for this coming school year. 25 TRANSMITTAL LETTER ORIZON" Jared with an eye toward )mer service that our residents Dets, we also identify current can be found below: our fire pumper truck during �, we will need to reinvest in our we strive to deliver. The to a back-up status as it is Number of Housing Starts 50 40 28 10 12 FY FY FY FY FY FY 09/10 10/11 11/12 12/13 13/14 14/15 i population of 210 in 1990 to / major corporate office approximately 10,000 - 12,000 )le corporate clients that aff will continue to monitor our Number of Westlake Students ?54 274 in Westlake Academy215 165 164 FY FY FY FY FY FY 09/10 10/11 11/12 12/13 13/14 14/15 Waiting List for Westlake Academy 2079 2177 1265 644 705 FY FY FY FY FY FY 08/09 09/10 10/11 11/12 12/13 13/14 TRANSMITTAL LETTER • Completion of Phase I Facility Improvements: Construction will be complete and operational for the fall school year. The approximately 39,000 sq. ft. of new facilities comprised of a secondary classroom building, field house, and primary years' multi -use building will allow for decompression of our current facilities. • Continued work on the Comprehensive Plan: The Town's current 1992 Comprehensive Plan is in the process of review and updating. The Comprehensive Plan serves as the "blue print" for planning and growth. We have convened a steering committee and held public meetings to discuss the plan elements and expect to be complete within the current fiscal year. Continued emphasis on long-range financial planning: The FYI 4-15 budget contains an updated Long -Range Financial Forecast which identifies key revenue and expenditure drivers while assessing historical financial trends and their potential impact upon the town's financial stability. Staff continues to produce a quarterly financial report for the Town Council that monitors and analyzes trends in the General Fund, Utility Fund, and Visitor Association Fund. The report serves as a tool to assist in developing a proactive, instead of reactive, approach to changing financial trends. Continue to explore new ways to combat spiraling health care costs: Costs have been increasing at an unsustainable level of 10 to 25% per year, and employee plan design changes are inevitable. Recently a comprehensive evaluation of the Town's health insurance costs was conducted and ultimately the decision was made to continue with Blue Cross Blue Shield. Long Term Visioning for FY 2014-2015 and Beyond Long range planning and visioning is vital to the sustainability of any community and Westlake has a bright outlook for our future - much of this based on our governing board, residential commitment to our Town and the diligence of our staff members. The following trends will be important to our growth and development: • Continued Permanent Population Growth - We anticipate the trend toward growth will continue as our existing lot inventory continues to be a scarce commodity. In addition, the aforementioned residential and mixed-use developments have the potential to significantly increase our permanent population. • Management of Development - As the economy and the surrounding cities in the Metroplex experience commercial development and the influx of individuals continues to make the North Texas Region their home, we will need to manage our distinctive housing developments to ensure we maintain our community as an 'oasis of natural beauty' as contained in our Vision statement. Implementation of the Comprehensive Plan - As mentioned in the short term trends, the Town will complete the updating of our Comp Plan and will transition into the application phase of the recommendations and feedback from our Comprehensive Plan Steering Committee, residents and stakeholders, Planning & Zoning Committee Members, and our Town Council. This will include the update of the applicable ordinance documents that will help guide our future developments and all the corresponding plan elements. 26 TRANSMITTAL LETTER Oversight of Enrollment Demands at Westlake Academy - As it becomes necessary, the rollout of Phase II of the Facility Master Plan, staff and the Council will plan for our long term visioning of the school to ensure each child reaches their `highest individual potential' as a student at Westlake Academy. The impact of new housing developments and population growth will continue to drive our capital projects in the future. V. BUDGET OVERVIEW On behalf of the Senior Leadership Team and all Westlake staff members, I am presenting the FY 2014-15 budget document for the Council's consideration as follows: • A = The FY 2014-15 budgeted expenditure amount totals $30,912,419 for all funds • B = Fund balance will decrease 21 % from the FY 2013-14 estimated budget. • CDE = this decrease includes $3,288,510 transfers in from fund balance total $2.1 M with capital project transfers at $1.1M. . FBG = If only municipal operating expenses were taken into consideration (removal of all expenses related to capital projects/outlay, Westlake Academy and inter -fund transfers), the FY 2014-15 budget would show a 14% increase of $1,466,082 in municipal expenditures from the FY 2013-14 estimates. Operating needs The major reasons for this increase are the following: o Increase of $696K in Operating Expenditures • $214K increased payments for debt service obligations. Payment for the 2014 General Obligation Refunding Bonds for FY 2014/2015 will be $260,510. The Town took advantage of the low interest rates and refunded a portion of the 2003 Certificates of Obligation (CO) which reduced our overall payments; saving the Town approximately $15K annually. The principal payment of the refunded CO's was rolled into the refunding; therefore, no principal payment was made in FY 2013-14. • $100K for finalization of the 2014 Comprehensive Plan and $200K in contingency for Ordinance revisions/codifications, maps, and other recommended updates ■ $300K for future Westlake resident enrollment capacity o Increase of $759K in Payroll Expenditures • This includes an increase in base costs of $71,394 to maintain our current staff levels along with $65,000 in market pay adjustments (inclusive of taxes and insurance) for work force attraction and $54K in performance based pay, and a newly recommended allocation of $8K for cell phone reimbursement of various staff members (Directors and on-call technicians). A portion of this increased expenditure is subsidized by transfers in from the Utility Fund ($30K) and the Visitors Association Fund ($92K) 27 A $30,912,419 Total Expenditures & Other Uses B -21% Fund Balance Change percent C $2,127,105 Transfers Related to Operating Needs D $1,161,405 Transfers Related to Capital Projects E $3,288,510 Total Transfers from Fund Balance F $1,466,082 Municipal Operating Change G 141/o Municipal Operating Percent The major reasons for this increase are the following: o Increase of $696K in Operating Expenditures • $214K increased payments for debt service obligations. Payment for the 2014 General Obligation Refunding Bonds for FY 2014/2015 will be $260,510. The Town took advantage of the low interest rates and refunded a portion of the 2003 Certificates of Obligation (CO) which reduced our overall payments; saving the Town approximately $15K annually. The principal payment of the refunded CO's was rolled into the refunding; therefore, no principal payment was made in FY 2013-14. • $100K for finalization of the 2014 Comprehensive Plan and $200K in contingency for Ordinance revisions/codifications, maps, and other recommended updates ■ $300K for future Westlake resident enrollment capacity o Increase of $759K in Payroll Expenditures • This includes an increase in base costs of $71,394 to maintain our current staff levels along with $65,000 in market pay adjustments (inclusive of taxes and insurance) for work force attraction and $54K in performance based pay, and a newly recommended allocation of $8K for cell phone reimbursement of various staff members (Directors and on-call technicians). A portion of this increased expenditure is subsidized by transfers in from the Utility Fund ($30K) and the Visitors Association Fund ($92K) 27 TRANSMITTAL LETTER ■ This increase also includes the following personnel changes o $35,753 - transition of part-time Communication Specialist to full-time o $77,987 - addition of one full-time Firefighter / Paramedic o $19,592 - additional part-time Deputy Court Clerk • Transition of shared services employees to municipal budget o $ 68,503 - Accounting Technician o $120,860 - IT Director ■ $130,144 increase relating to medical, dental and life Insurance costs (400) • $16,931 increase for social security and Medicare taxes (8%) • $89,840 increase for ICMA and TMRS costs (46%) Three years ago, in order to provide a more holistic and comprehensive overview of all of our financial obligations, revenue sources, and program of services that fall under the umbrella of the Town of Westlake, we began including the operational costs for Westlake Academy in the municipal budget. A summary of the changes in Fund Balance from the ending fund balances to the projected FY 2014-15 fund balances are as follows: FY 14/15 FY 14/15 Projected Total Total Projected Beginning Revenues Expenditures Ending FY 13/14 vs FY 14/15 Fund and Other and Other Fund Percent Change Change Fund Type Balance Sources Uses Balance of Total Amount Percent General Fund 5,896,631 7,935,456 8,605,971 5,226,116 43% (670,515) -11% Special Revenue 1,069,684 2,533,603 2,689,602 913,685 8% (155,999) -15% Debt Service (11,865) 2,306,523 2,294,658 - 0% 11,865 0% Enterprise Funds 4,716,918 3,476,624 3,803,059 4,390,484 35% (326,435) -7% Internal Services 1,183,176 728,875 1,467,000 445,051 4% (738,125) -62% Capital Funds 1,661,420 3,042,400 4,203,805 500,015 4% (1,161,405) -70% Westlake Academy 1 1,060,425 1 7,612,293 1 7,848,324 1 824,394 1 7% 1 1 (236,031) -22% TOTAL 15,576,390 27,635,774 30,912,419 12,299,745 F 100% 3,276,645 -21% As can be seen above, the FY 2014-15 budget indicates a decrease in fund balance in the amount of ($3,276,645) for all funds. The Internal Service Funds have a reduction in fund balance related specifically to the purchase of a replacement engine/pumper truck, totaling ($730K). • We currently deploy a 2003 engine/pumper truck which has been in for repairs on a routine basis. The Capital Project Fund balance reduction of $1.161 M is a direct reflection of the construction of the following projects: • FM 1938 Streetscape Project $1M • Sam School, E. Dove, and Roanoke Road Reconstruction and Drainage $819K • Park Improvements $100K • Land cost allocation for Fire Station $1.125M to be offset with bond proceeds 28 TRANSMITTAL LETTER The General Fund's fund balance will decrease by $670K • The Town is anticipating an increase in revenues over the prior year by $864K o increased sales tax revenue $101 K o Permits and fees related to the Granada development $450K Transfers in from Utility Fund for repayment of Ground Storage Water Tank $256K Increase of $557K in Payroll Expenditures o This includes an increase in base costs of $71,394 to maintain our current staff levels along with $65,000 in market pay adjustments (inclusive of taxes and insurance) for work force attraction and $54K in performance based pay, and a newly recommended allocation of $8K for cell phone reimbursement of various staff members (Directors and on-call technicians). A portion of this increased expenditure is subsidized by transfers in from the Utility Fund ($30K) and the Visitors Association Fund ($92K) o This increase also includes the following personnel changes ■ $35,753 - transition of part-time Communication Specialist to full-time ■ $77,987 - addition of one full-time Firefighter / Paramedic ■ $19,592 - replacement of part-time Deputy Court Clerk o Transition of shared services employees to municipal budget • $68,503 - Accounting Technician ■ $120,860 - IT Director o $130,144 increase for medical, dental and life Insurance costs (40%) o $16,931 increase for social security and Medicare taxes (08%) o $89,840 increase for ICMA and TMRS costs (46%) • Operating expenditures and transfers out increased $1M o $300K - future Westlake resident enrollment capacity o $ 42K - increase to Keller Police contract services o $520K - transfer to Capital Projects Fund o $168K - transfer to Debt Service Fund VI. "EXPANSIVE LOOK" INTO THE FY 2014-15 BUDGET AND STRATEGIC DIRECTIVES Keeping our current year theme in mind, this budget has been prepared with the following four- fold strategic focus of achieving the outcome objectives identified in our Strategy Map of "Preserving Desirability & Quality of Life" and "Increasing our Citizen, Student, and Stakeholder Satisfaction": • Continued investment and long term visioning in the Town's infrastructure helping to "Encourage Westlake's Unique Sense of Place" • Investing in our employees, our most important resource for achieving our Mission Tag Line as a "One -of -a -kind community, natural oasis - providing an exceptional level of service." • Maintaining our position as a premiere knowledge based community as educational leaders, as well as a community recognized both statewide and nationally for our innovative approaches to local government service delivery • Dealing with growth "that maintains our open spaces in balance with distinctive development, trails, and quality of life amenities" found in our vision statement, both in Westlake and at Westlake Academy 29 Service Level Adjustments TRANSMITTAL LETTER The Town utilizes "service level adjustments" to create an organizational outcome of being fiscal stewards and tracking our cost increases or decreases. A service level adjustment (SLA) is a request for any dollars in excess of the baseline/target budget. (FY 2013-14 budget, adjusted for year-end estimates, less one-time purchases). There are 2 types of "Service Level Adjustments". • Maintain - same level of service as previous year, but increased due to inflation, etc. o Activities that require additional resources to maintain the current level of service due to growth, new equipment, etc. are considered additions to the baseline/target budget and are included in the "SLA". • New or expanded level of service. o All requests for new personnel, programs or equipment that represent a new addition to the current operation are considered additions to the baseline/target budget and are included in the new costs. o Show any revenues or reduction in current expenses these new or expanded levels of service will create o Designate if item represents an "Unfunded Mandate". An unfunded mandate is a statute or regulation that requires a state or local government to perform certain actions, yet provides no money for fulfilling the requirements. To support our theme of "Community Growth on the Horizon" the FY 2014-15 budget reflects a total of $4,008,497 in service level adjustments which are invested in major areas of emphasis through service level adjustments as follows: SERVICE LEVEL ADJUSM ENT TYPE TOTAL AMOUNT ONE-TIME COSTS ON-GOING COSTS Operating Supplies/Service 750,373 136,020 614,353 Payroll and Related 543,211 0 543,211 Total Operating SLA Costs 1,293,584 136,020 1,157,564 Capital Improvement 5,578,789 5,465,305 113,484 Debt Service 259,114 0 259,114 Total All SLA Costs 7,131,487 5,601,325 1,530,162 percentage 79% 21% Increased Revenues 3,122,990 2,335,000 787,990 percentage 75% 25% Staff recommends continued monitoring and implementation of our financial policy as it relates to remaining competitive in the marketplace. We are fortunate to have engaged, long-term employees (with a wealth of institutional knowledge) who help to create the type of environment that our residents enjoy - one that focuses on the creation of the personal relationship with as many of our stakeholders as possible and an organization that is committed to being accessible and responsive to our community. Our current financial policy directs us to aim for a target of being within 3% of the median of the market for our various municipal positions. As we are a multi -faceted service delivery unit - through both municipal and academic service delivery - the ability to remain competitive in the marketplace is important to our long term success. The incremental, consistent approach helps us to retain (and when necessary to 30 TRANSMITTAL LETTER attract) the type of candidates that are committed to servant leadership in service delivery without experiencing a large increase due to a lag in our compensation allocations. In support of this process, the current fiscal year contains a performance based pay package of $54,000. VII. AD VALOREM TAX ANALYSIS Ad valorem taxes account for 16% of General Fund revenue and 10% of our overall revenues. This will be the fifth year the Town has assessed a property tax. The ad valorem tax rate for the Town of Westlake continues to be the lowest for municipalities in the immediate area. The adopted ad valorem tax rate per $100 of assessed valuation will be the calculated effective rate of $.15634 for FY 2014-15. This is less than the FY 2013-2014 tax rate of $.15684 by $0.0005. As a reminder, the effective tax rate is the total tax rate calculated to raise the same amount of property tax revenue for the Town from the same properties in both the 2013 tax year and the 2014 tax year. The variance in the revenues received with the current rate and the adopted rate is only $4K. This year's property tax levy will raise more revenue from property taxes than in the preceding year by $36,595 or 2.73%, and of that amount, $43,951 is tax revenue to be raised from new property added to the tax roll for the current year. Below is a table noting our prior year tax information as well as the estimated rate and revenue for FY 2014-15. Based on our July certified values, the Town's "net taxable value" increased by $26,875,626 (3.15%) over September's supplemental information for FY 13-14. This is attributable to a 5.3% increase in residential but offset by a 3.7% decrease in commercial property values. FY 10/11 FY 11/12 FY 13/14 FY 13/14 FY 14/15 Actual The table to the right Actual Estimated Adopted Total Adopted $1,090,892,532 Change compares the ad valorem $1,258,429,958 Appraised Tax Rate 65,357,236 Tax Rate 17,950,162 Amount tax rate in the FY 2014-15 M&O $ 0.13907 $ 0.13710 $ 0.00197 budget to the tax rate in 10.91% 1.48% 2.49% Net $880,169,946 913,119,313 864,452,946 the FY 13/14 budget. I&S $ 0.01777 $ 0.01924 $ 0.00147 Value $ 0.15684 $ 0.15634 $ 0.00050 percent change Below is a table noting our prior year tax information as well as the estimated rate and revenue for FY 2014-15. Based on our July certified values, the Town's "net taxable value" increased by $26,875,626 (3.15%) over September's supplemental information for FY 13-14. This is attributable to a 5.3% increase in residential but offset by a 3.7% decrease in commercial property values. 31 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Actual Actual Actual Estimated Adopted Total $1,025,535,296 $1,090,892,532 $1,209,948,755 $1,227,898,917 $1,258,429,958 Appraised amount change 65,357,236 119,056,223 17,950,162 30,531,041 Value percent change 6.37% 10.91% 1.48% 2.49% Net $880,169,946 913,119,313 864,452,946 853,297,597 880,173,223 Taxable amount change 32,949,367 (48,666,367) (11,155,349) 26,875,626 Value percent change 3.74% -5.33% -1.29% 3.15% $1,409,152 $1,432,136 $1,355,808 $1,338,312 $1,376,063 Total Tax Revenue amount change 22,984 (76,328) (17,496) 37,751 percent change 1.63% -5.33% -1.29% 2.82% 31 TRANSMITTAL LETTER VIII. ADOPTED BUDGET IN A MULTI-YEAR CONTEXT Evaluating the budget within the context of a longer term forecast is important as it shows whether we are on the right road financially in FY 2014-15. This excerpt from the updated Financial Forecast for the Town's General Fund illustrates the trend for the next seven years: FORECAST FOR ESTIMATED ADOPTED SEVEN YEAR PROJECTION GENERAL FUND FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 20-21 ONLY Beginning 5,812,583 5,896,631 5,226,116 5,105,466 5,661,318 5,166,907 4,824,004 5,117,425 4,481,109 Fund Balance Revenues & 7,070,981 7,935,456 8,097,685 8,611,266 7,625,476 8,067,518 9,282,362 8,502,034 9,067,332 Transfers In Expenditures & (6,986,933) (8,605,971) (8,218,334) (8,055,413) (8,119,888) (8,410,421) (8,988,941) (9,138,351) (9,380,400) Transfers Out Net $5,896,631 $5,226,116 $5,105,466 $5,661,318 $5,166,907 $4,824,004 $5,117,425 $4,481,109 $4,168,041 Total Total Restricted Funds 265,126 255,079 260,181 265,384 270,692 276,106 281,628 287,260 293,006 Ending Balance $5,631,505 $4,971,037 $4,845,286 $5,395,934 $4,896,215 $4,547,898 $4,835,798 $4,193,849 $3,875,035 (projected) Operating 323 243 236 263 220 197 196 168 151 Days VII. CLOSING THOUGHTS The development of a comprehensive budget document, such as this, is the result of a high performing team focused on the overall goals and objectives established by the Council: customer service, excellent service delivery, financial stewardship and organizational and personal development. As previously mentioned , we are extremely fortunate to have a staff team and governance structure, focused on developing Westlake into a truly unique community. We have worked with Council to refine our strategic direction for municipal services and communicate this through the organization. This type of investment will produce relationships that sustain our community and ensure the responsible use of the public funds that have been entrusted to us for our Town. Our community has recently faced many decisions which have helped to shape our future and guide our growth. We have expanded our capacity as an organization through: . Strategic professional development with a consultant from the Balanced Scorecard Institute for both the Council and staff members. • Re -development of the Balanced Scorecard system and Strategy Map, with comprehensive performance measures for our municipal operations. • Elected official governance and professional development sessions to improve our proficiency in those areas. • Short and long-term focus on fiscal management that involves responsible budgeting and transparency for our citizens. • Communication and outreach efforts to our stakeholders via the continued use of personalized neighborhood meetings, social media outreach, corporate partnerships, and our website information. . Physical plant expansion on the Academy campus with a Fieldhouse, Multi-purpose building and Secondary educational classrooms. 32 TRANSMITTAL LETTER • Recruitment of an Executive Principal / Director of Education for Westlake Academy and an MYP Principal. • Increased enrollment and new course offerings - emphasizing high student achievement and student expansion at Westlake Academy. • Installation of a secondary ground storage water tank for future sustainability and service provision levels. • Approval of a new 84 home residential development. • Zoning approval for an 84 acre mixed-use development. • Organizational performance measures - The organizational goals are designed to provide a comprehensive view of our strategic direction that can be communicated across every department and to our stakeholders and residents. The efficiency and effectiveness measures found within the specific departmental sections of the budget document are interrelated to the broader context of the outcome objectives found within the Town of Westlake Tier One Strategy Map for our community. • Goals Accomplishment - With the implementation of the second iteration of our Balanced Scorecard Performance System, we have drafted specific outcome based performance measures for each objective. These will be monitored each month and reported to the Council on a quarterly or annual basis. All of these efforts are necessary to create the one -of -a -kind community that Westlake residents cherish and enjoy, one that allows us to focus in the coming fiscal year on growth and responsible development. We exist as a municipal corporation for one reason and one reason only: to prioritize and deliver the best services possible with the resources provided to achieve an exceptional quality of life. The staff members remain committed to this challenge and pursue this goal each day. High praise is due to the Senior Leadership Team for their work on this budget. Additional recognition and thanks are due to our Director of Finance Debbie Piper, and Finance Supervisor Jaymi Ford, for their efforts in assembling the budget document. It takes long hours and attention to detail to assimilate all the various factors that may affect our community into a comprehensive financial and policy document that is 'user friendly'. I appreciate their dedication and the effort they have invested in this process. Finally, on behalf of myself and the entire Town Staff, I would like to extend thanks and appreciation to the Westlake Town Council. Your countless volunteer hours, invested in the governance of and leadership for Westlake, make it a true honor to serve the community, and your dedication is foundational to any success we achieve. Respectfully, Thomas E. Brymer Town Manager/Superintendent Westlake Academy 33 TRANSMITTAL LETTER EXCERPT FROM THE 2013 CITIZEN SURVEY RESULTS Source: ETC Institute DirectionFinder (2013 - Westlake, TX) 01. Overall Satisfaction With Town Services by Major Category by percentage of respondents who rated the item as a 1 to 5 on a 5 -point scale (excluding don't knows) Quality of public safety services Westlake's emergency preparedness efforts Maintenance of Town streets Overall value of Westlake Academy to the Town Overall quality of governmental services Effectiveness of Town communication Overall customer service provided by Town Parks/trails/open spaceslstrestscapinglfacilites Enforcement of codes and ordinances Quality of utility services Value received from City tax dollars and fees 49% 37% 9%sus 430/ 39°lp 13©/ or 54% 249a 13% 10 % 32% 142% 117 42% 32% 120/ J 40% 33% 20% 7% 35% 37% 1 23% 0! 28% 43% 21% 9�/ ................ 29 % 41 %a 21 % 9% 2 310/ 1 25% 20% 0% 200/ 40% 60% 800/ 1000/ =Very Satisfied (5) En Satisfied (4) =Neutral (3) MDissatisfied (112) Q2. Major Categories of Town Services That Residents Felt Were Most Important by percentage of respondents who selected the item as one of their top three choices Quality of public safety services Overall value of Westlake Academy to the Town Parks/trails/open spaceslstreetscapinglfacilites Value received from City tax dollars and fees Maintenance of Town streets Quality of utility services Westlake's emergency preparedness efforts Overall quality of governmental services Enforcement of codes and ordinances Effectiveness of Town communication Overall customer service provided by Town 73o 44% P i 20�/a i 2D fo r r 1801 a r 12/i r r ■ 11�fa i r i 10% r r r 7%e r 0% 20% 400/ 50% 1st Choice EJ2nd Choice 1.3rd Choice 34 80% TRANSMITTAL LETTER Overall Composite Customer Satisfaction Index 2000 vs. 2011 vs. 2013 (Base Year 2009=100) 115 110 105 100 95 90 Westlake ............................................................................................. 100 1 [] 1 100 100 141 U.S. Average X2009 X2011 X2013 Q20. Overall, how would you rate the Town of Westlake as a place to live? by percentage of respondents Excellent 700 Good 210/ 35 n't know 3% 'oor 1% Average 20/ BUDGET OVERVIEW ,� &FRAMEWORK %IT Y CL 0 z i Ir, AD''o-PTED 09-22-2014 VALUES VISION MISSION STRATEGY THE TOWN or- WESILAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE, TEXAS 76262 -* WWW.WESTLAKE-TX,ORG 9 BUDGET OVERVIEW AND FRAMEWORK The Town of Westlake staff is pleased to present the 2014-2015 annual operating budget, which is the product of many hours of preparation as well as a response to ever-changing internal and external influences. The Town of Westlake's 2015 fiscal year begins on October 1, 2014 and ends September 30, 2015. It provides the framework to implement the Town's vision, mission and value statements as set out by the Town Council. BASIS OF ACCOUNTING/BUDGETING The term "basis of accounting" is used to describe the timing of recognition, that is, when the effects of transactions or events should be recognized. The accounts of the Town are organized on the basis of funds, each of which is considered to be a separate accounting entity. All governmental fund types are budgeted and accounted for on a Generally Accepted Accounting Practice (GAAP) basis for GOVERNMENTAL FUND TYPES financial statement presentations. The Town's budget is allocated by fund and is prepared in the context of a five (5) year financial forecast. The proposed budget is submitted to the Council approximately thirty to forty-five days before the beginning of the fiscal year for their consideration. It is designed to provide a clear picture of proposed Town spending, allocation of financial resources, and priorities as well as how they are set to carry out the policy direction of the Council. In addition to a fund format, the budget is the beginning of efforts to show the allocation of the Town's resources in concert with the Town's strategic planning efforts. Accounting/Budgeting Basis; Modified Accrual General Fund Lone Star Fund Visitor Association Fund Economic Development Fund 413 Economic Development Fund Debt Service Fund General Maintenance & Replacement Fund Westlake Academy Capital Projects Fund Westlake Academy Expansion Fund PROPRIETARY FUND TYPES Accounting/Budgeting Basis; Full Accrual Cemetery Fund Utility Fund Utility Maintenance & Replacement Fund A "bottom-up" approach is used to solicit input from the staff Leadership Team as to their operations' needs with an emphasis on: • Identifying costs to provide the current level of services. • Identifies additional cost increases needed to maintain the current level of service. • Additional resources necessary to provide new or increased levels of service. • Delineating changes in fund balance levels for each fund. As in previous years, efforts have been made to control expenditures while continuing to deliver an excellent level of service to our citizens. Concentrated efforts have been made to produce a document that clearly illustrates the uses of Town resources in a format that may be utilized as a resource tool by the Town Council, Town staff, and the citizens of Westlake. Our budget preparation process continues to be refined on an annual basis, operating within clearly defined budget preparation guidelines. 37 BUDGET OVERVIEW AND FRAMEWORK The following procedures, which are guided by generally accepted budgeting practices, has been established: • The annual operating budget presents appropriations of expenditures and estimates of revenues for all local government funds. These revenues include sales and use taxes, ad valorem property tax, citation revenue, franchise taxes, mixed beverage taxes, license and permit fees, development fees, sales of printed material, interest income, water and sewer utility revenue, duct bank leases, and miscellaneous revenues. • The annual operating budget illustrates expenditures, anticipated revenues, and the estimated impact on reserves. • Budgets for each department are broken down into specific cost components, including payroll/salaries, payroll related & benefits, supplies, services, insurance, repair & maintenance, rent & utilities, economic development incentives, and capital outlay. • Revenue projections are prepared for each revenue source based on an analysis of historical revenue trends and current fiscal conditions. • The budget process includes a multi-year projection of all required capital improvements. • Goals and objectives have been developed for each department and are incorporated into the evaluation of employees and performance of the organization. • A budget message summarizing local financial conditions and principal budget issues is presented to the governing council along with the annual budget. The layout and organization of the budget is designed to help the reader locate both financial and non-financial information in a timely fashion. The General Fund is divided into twelve departments. Each department has the following information included: • Description of the fund and it's program's trends, goals, highlights, measures • Summary of Employee Staffing and Expenditures • Program budgeting for the Department The Fund Sections are broken down between General Fund, Westlake Academy Fund, Special Revenue Funds, Debt Service Fund, Enterprise Funds, Internal Service Funds, and Capital Projects Fund. Each Fund contains the following information: • "Fund Overview" describing the function of the fund and explaining the variances between the revenues and expenditures of FY 2013-14 and FY 2014-15 • "Program Summary" of revenues and expenditures. Also included are sections detailing the Capital Improvement Plan and Long -Term Planning. The final component is an Appendix section. The appendices section consists of a Glossary of Budget Terms, the Town's Fiscal and Budgetary Policy, Investment Policy, Strategic Plan and the Town ordinance related to the adoption of the budget (after adoption). m BUDGET OVERVIEW AND FRAMEWORK The budget contains financial data spanning three fiscal years. Budget Year FYI 2/13 is presented in actual audited numbers. Budget year FY 13/14 is presented in its original adopted form along with an amended estimate. The adopted budget for FYI 4/15 is also presented for comparison. BUDGET FUND STRUCTURE TOWN OF WESTLAKE BUDGETING FUNDS Governmental Funds General Debt Fund Service Fund Internal Service Capital Project Funds Funds -General - Capital Project Fund Maintenance -Westlake Academy & Replacement Expansion Fund Fund Academic Funds Special Revenue Funds -Westlake - Lone Star Fund Academy - Visitor Association Fund - Economic Development Fund - 4B Economic Development Fund Major funds represent the significant activities of the Town and basically include any fund whose revenues or expenditures, excluding other financing sources and uses, constitute more than 10% of the revenues or expenditures of the appropriated budget Proprietary Funds Enterprise Funds -Cemetery Fund - Utility Fund Internal Service Funds -Utility Maintenance & Replacement Fund MAJOR FUND PERCENT General Fund 42% Utility Fund 35% Westlake Academy 7% TOTAL 84% The Governmental Fund types use a financial resources measurement focus and utilize the modified accrual basis for accounting and budgeting. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, meaning that it is measurable and available. Available revenues are defined as those funds that are collectable within the current period, or collectable within a timeframe to pay liabilities of the current period. Expenditures generally represent a decrease in net financial resources and are recorded when a measurable fund liability is incurred. In some instances, such as the incurrence of long-term debt, expenditures related to interest on the debt is recorded in the period that it is due. 39 BUDGET OVERVIEW AND FRAMEWORK The Proprietary Fund types are accounted and budgeted for on a cost of services, or "Capital Maintenance" measurement focus using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recognized when incurred. For purposes of this budget presentation, depreciation is not displayed and capital expenditures and bond principal payments are shown as uses of funds. RELATIONSHIP BETWEEN FUNDS AND DEPARTMENTS 40 z W a U W Z Z O Y o N W ZZ Fz 4 Q > Y a U > (n U O U Y Z Q 4 W CL O 2 Z O q O Z > n U W Z O 0 W U w a a U z � C7 U F U rn 2 Z U w W Z 2 Z Q Z 3 K W 2 m U Z Z y K OW Q 2b O 2b 2 O U O (D ¢ d FO- w a li u. a ? x U d GENERALFUND General Fund ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ SPECIAL REVENUE FUNDS 46 Economic Development ✓ Economic Development ✓ Visitors Association ✓ ✓ ✓ ✓ ✓ ✓ ✓ Lone Star Public Facilities ✓ DEBT SERVICE FUNDS Debt Service ✓ ENTERPRISE FUNDS Cemetery Fund ✓ ✓ 500 Utility Fund ✓ ✓ ✓ ✓ ✓ INTERNAL SERVICE FUNDS Utility Maintenance & Replacement ✓ General Maintenance & Replacement CAPITAL PROJECT FUNDS Capital Projects ✓ ✓ ✓ ✓ Westlake Academy Expansion ✓ ✓ ✓ ACADEMIC FUNDS Westlake Academy ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 40 BUDGET OVERVIEW AND FRAMEWORK GOVERNMENTAL FUND TYPES Governmental fund types are those through which most governmental functions of the Town are financed. The acquisition, use, and balances of the Town's expendable financial resources and the related liabilities (except those accounted for in the Proprietary and Fiduciary Fund types) are accounted for through Governmental Fund types. Descriptions of each fund contained in the Town's budget are as follows: 1. The General Fund is the general operating fund of the Town. It is used to account for all Town revenues and expenditures except those required to be accounted for in other funds. Major functions financed by the General Fund include Finance, Administration, Building & Code Compliance, Fire/EMS, Public Works, Facilities and Grounds Maintenance, Human Resources, Parks and Recreation, Information Technology, and Engineering. Sources of revenue include sales and use taxes, development fees and permits, court revenue, and franchise taxes. The former Westlake Property Tax Reduction Sales Tax Fund received its funding from a'/2 cent sales tax levy that was previously earmarked for the 4A Economic Development Corporation. The purpose of this fund was to reduce local property tax rates throughout Texas by providing cities with an additional unrestricted revenue source. These funds may be used for general Town expenditures, capital projects, or debt service. This fund was closed at FY 2010-2011 year end and revenues are now being recorded in the General Fund. 2. The Debt Service Fund is established to account for, and the payment of, general long- term debt principal and interest. This fund provides a clearer accounting of ongoing debt obligations compared to operating budgets. The Debt Service Fund is used to make scheduled payments for all bond issuances. 3. Special Revenue Funds consist of the following, • The Westlake Academy Fund incorporates all funds related to the Academy encompassing all operations and maintenance related to the school as well as State public school funding, Federal and state grants, and private donations used to support the daily school operations of the Academy. • Westlake's Visitors Association Fund receives its primary funding from a 7% hotel occupancy tax adopted by the Town of Westlake in FY 1999-2000. Proceeds from the hotel occupancy tax are required to be used in accordance with statutory parameters including the promotion of travel and tourism in the Town of Westlake. Additionally, because Westlake has broader statutory authority under State law than most cities to spend hotel/motel occupancy tax funds for any municipal purpose, the Town has used these funds to cover costs of various municipal 41 BUDGET OVERVIEW AND FRAMEWORK operational costs and capital projects (an example would be payment of a portion of the debt service for Westlake Academy related bonds). • The Economic Development Fund was set up to maintain all receipts and disbursements of agreements between the Town and various corporations for economic development. There was confusion regarding the additional revenues being recorded in the General Fund and offset by expenditures. These balances offset to zero but skewed the analysis of each. This fund is used to create more transparency to the public regarding these receipts and payments. • The 413 Economic Development Corporation Fund is a local option established under the Texas local government code. 4B funds are generated from a'/2 cent sales tax levy and proceeds are used for debt service. • The Lone Star Public Facilities Corporation was founded in 1996 and was designed "to provide for the acquisition, construction, rehabilitation, repair, equipping, furnishing and placement in service of public facilities in an orderly, planned manner and at the lowest possible borrowing costs." The ideas was to "acquire, through the issuance of installment sale obligations, office buildings located within the State of Texas but outside the boundaries of Westlake, whose tenants will be limited to those entities which are qualifying tenants under applicable federal income tax law so that the interest payable with respect to the installment sale obligations will be exempt from federal income taxation." There has been no activity in the fund for several years. 4. Capital Project Funds consist of the following; • The Capital Projects Fund tracks the infrastructure and building projects (other than those financed by proprietary fund types), funded with general operating transfers, intergovernmental revenue, bond funds and other special funding methods. Capital expenditures are clearly identified by their respective funding sources, and projects are shown in a clear, concise format. • The Westlake Academy Expansion Fund tracks the Westlake Academy Master Facility Plan that was adopted by the Westlake Town Council/Board of Trustees in November 2012. The issuance of $8.5 million in bonds by certificates of obligation (CO) was authorized for the Phase I expansion. Total cost of this project will be approximately in the $10 million range including hard and soft costs. The Phase I expansion will be completed by fall 2014 and includes three buildings adding approximately 36,800 square feet of new space to the Academy's current 60,000 sq. ft. of campus facilities. 42 BUDGET OVERVIEW AND FRAMEWORK 5. Internal Services Funds account for services and/or commodities furnished by a designated program to other programs within the Town. Funds include the following: • The General Maintenance & Replacement Fund (GMR) is an account to offset the future costs of repair and/or replacement of large capital assets due to age and use. Contributions from the Town's General Fund are transferred on an annual basis; resulting in a cash balance which mitigates the cash flow impact of large maintenance and capital replacement costs. PROPRIETARY FUND TYPES Proprietary fund types operate in a manner similar to private business utilizing an accrual basis of accounting. Enterprise Funds Account for operations of governmental facilities operated in a manner similar to commercial enterprises where the intent is to recover, in whole or in part, the costs and expenses of providing goods and services to the public. Revenues are typically generated through usage fees based on individual demands of each customer. Enterprise funds may be used when the governing body has determined that periodic determination of revenue earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. • The Cemetery Fund includes all operations associated with the 5.5 acre cemetery located on J.T. Ottinger Road which was acquired during the year ended September 2008. • The Utility Fund accounts for water, wastewater and telecommunications conveyance (duct bank) services for the residents of the Town. All activities necessary to provide such services are accounted for in the Fund, including administration, operations, maintenance, financing and related debt service, and billing and collection. Additionally, the Town collects monthly solid collection fees in this fund which are paid to the Town's solid waste franchisee. Internal Service Funds Internal Services Funds account for services and/or commodities furnished by a designated program to other programs within the Town. Funds include the following: • The Utility Maintenance & Replacement Fund (UMR) is an account to offset the future costs of repair and/or replacement of large capital assets due to age and use. Contributions from the Town's Utility Fund are transferred on an annual basis; resulting in a cash balance which mitigates the cash flow impact of large maintenance and capital replacement costs. 43 BUDGET OVERVIEW AND FRAMEWORK 11-11 IF -Ill, L6141-11 11*14 As per State Law, current operating revenues, including Property Tax Reduction Sales Tax (which can be used for operations), will be sufficient to support current operating expenditures. Annually recurring revenue will not be less than annually recurring operating budget expenditures (operating budget minus capital outlay). Debt or bond financing will not be used to finance current expenditures. THE BUDGET PROCESS The Town Manager submits the budget to the Town Council. The Town's fiscal year begins each year on October 1 It and ends on September 30th of the following calendar year. Prior to the beginning of the fiscal year, the Town Manager must submit a proposed budget, which includes: • A budget message • A consolidation statement of anticipated revenues and proposed expenditures for all funds • General fund resources in detail • Special fund resources in detail • A summary of proposed expenditures by department and activity • Detailed estimates of expenditures shown separately to support the proposed expenditure • A description of all bond issues outstanding • A schedule of the principal and interest payments of each bond issue The proposed revenues and expenditures must be compared to prior year revenues and expenditures. The budget preparation process begins early in the calendar year with the establishment of overall town goals, objectives, and analysis of current year operations compared to expenditures. Budget policies and procedures are reviewed at the same time to reduce errors and omissions. In May, the Finance Department prepares such items as budget forms and instructions for estimating revenues and expenditures. Department heads submit proposed baseline expenditures for current service levels and any additional one-time or on-going request they may have for their department. A round -table meeting is subsequently held with the Town Manager, the finance staff and each department head for review. After all funding levels are established and agreed upon; the proposed budget is presented by the Town Manager to the Town Council. A public hearing on the budget is conducted in accordance with state and local law. This meeting is held after the Council has reviewed the budget during a workshop. The Town Council approves a level of expenditure (or appropriation) for each fund to go into effect on October 1 st, prior to the expenditure of any Town funds for that budget year. 44 BUDGET OVERVIEW AND FRAMEWORK BUDGET AMENDMENT PROCESS The Town Manager may request that the current year budget be amended. In this process, the Town Manager will review the documentation and draft an ordinance to formally amend the current budget. This ordinance is presented to the Town Council for consideration. Following the consideration of the proposed amendment, the Town Council will vote on the amendment ordinance. If the amendment is approved, the necessary budget changes are then made. All budget amendments will be approved by the Town Council prior to the expenditure of funds in excess of the previously authorized budgeted amounts within each fund. FINANCIAL POLICIES The Town of Westlake is committed to financial management through integrity, prudent stewardship, planning, accountability, full disclosure and communication. The broad purpose of the Fiscal and Budgetary Policy is to enable the Town to achieve and maintain a long-term stable financial position and provide guidelines for the day-to-day planning and operations of the Town's financial affairs. The Town Council annually reviews and approves these policies as part of the budget preparation process. A copy of these Policies can be found in the "Appendix" section of this budget. INVESTMENT POLICIES It is the policy of the Town of Westlake that, giving due regard to the safety and risk of investment, all available funds shall be invested in conformance with State and Federal Regulations, applicable Bond Resolution requirements, adopted Investment Policy and adopted Investment Strategy. Effective cash management is recognized as essential to good fiscal management. Aggressive cash management and effective investment strategy development will be pursued to take advantage of interest earnings as viable and material revenue to all Town funds. The Town's portfolio is designed and managed in a manner responsive to the public trust and consistent with this Policy. Investments shall be made with the primary objectives of: • Preservation of capital • Safety of Town funds • Maintenance of sufficient liquidity • Maximization of return within acceptable risk constraints • Diversity of investments 45 BUDGET OVERVIEW AND FRAMEWORK EFFECT OF PLANNING PROCESSES ON THE OPERATING BUDGET The Town of Westlake utilizes several planning processes that affect the development of the operating budget. Effective planning processes assist the Town in assessing the financial implications of current and proposed policies, programs, and assumptions. An effective plan illustrates the likely outcomes of particular courses of actions. Name Type Of Planning Process Description Of -Impact Budget General Government Five-year operating Forecast of revenues, Allows for reallocation Long -Range Financial plan to facilitate expenditures, service of resources Forecast financial planning levels and staffing needs Facilities Capital Five-year plan by The prioritization of Stability of General Maintenance facility and departmental requests fund appropriations maintenance activity for projects along with or project known maintenance requirements Parks Capital Five-year plan by Identifies, prioritizes and Stability of General Maintenance facility, maintenance schedules improvements fund appropriations activity or project to parks, medians and grounds Street Maintenance Five-year plan to Inspection, prioritization Stability of General maintain and improve and scheduling of fund appropriations roadways, sidewalks, surface repair and curbs and gutters preventive maintenance of streets Vehicle and Equipment Five-year plan of Development of Timing and sizing of Replacement scheduled vehicle and replacement intervals debt issues and heavy equipment based on equipment payments replacement age, usage, and lifetime repair costs Computer Plan for the Development of Stability of General Replacement replacement of replacement intervals fund appropriations computers and other based on equipment technology items age, usage, and lifetime repair costs Capital Improvements Five-year plan of major Council identification of Predictable funding Plan infrastructure projects; prioritizing; levels, debt service development and costing; timing; financing planning improvements and project management 46 BUDGET OVERVIEW AND FRAMEWORK FY 14/15 BUDGET CALENDAR MAR * ORIENTATION AND OVERVIEW OF 2014-15 BUDGET PROCESS * FIVE YEAR PROJECTION SPREADSHEETS DISTRIBUTED FOR INPUT * FORMS FOR CAPITAL PROJECTS AND MAJOR MAINTENANCE AVAILABLE * REVIEW OF CALENDAR AND PROCESSES WITH COUNCIL * REVIEW OF OVERALL TOWN GOALS APR * YEAR-END ESTIMATE SPREADSHEETS DISTRIBUTED FOR FY 13-14 AMENDMENTS * FINANCE AMENDS FY 13-14 BUDGET - BECOMES BASE FY 14-15 * DEPARTMENTS ACCESS BUDGET TO REMOVE ONE TIME REVENUES AND EXPENDITURES * OPERATING BASELINE BUDGET AVAILABLE FOR EDITING * SERVICE LEVEL ADJUSTMENT FORMS AVAILABLE ON SHARED DRIVE MAY * DETAIL REVIEW BY FINANCE DEPARTMENT * GOALS AND OBJECTIVES AVAILABLE FOR EDITING ON SHARED DRIVE * TOWN MANAGER AND FINANCE BEGIN REVIEWS WITH DEPARTMENTS JUN * BUDGET MODULE OPEN FOR CHANGES TO BUDGETS PER REVIEWS * PRESENTATION OF 5 -YEAR FORECAST JUL * PREPARATION FOR BUDGET RETREAT * PREPARATION OF POWER POINT AUG * BUDGET RETREAT * PUBLISH NOTICE REGARDING CONSIDERATION OF PROPERTY TAX * BUDGET WORKSHOP * NOTICE FOR PUBLIC HEARINGS POSTED IN NEWSPAPER * PRESENT PROPOSED FY14-15 MUNICIPAL BUDGET TO COUNCIL SEP * PUBLISH NOTICE OF PUBLIC HEARING ON BUDGET * PUBLIC HEARING ON BUDGET * ADOPTION OF FY14-15 OPERATING BUDGET AND TAX RATE OCT * FISCAL YEAR 2014-2015 BEGINS 47 F" w 0 STRATEGIC PLAN qq-woo li lolmb N 111T Y (9V W" ADOPTED 0 09-22-2014 VALUES r. VISION' MISSION STRATEGY THE Tom OF WESTLAKE * 3 VILLAGE CIRCLE #2-02 * WESTLAKE, TExAs 76262 WWWMESTLAKE-MORG STRATEGIC PLAN OVERVIEW BALANCED SCORECARD The Town Council and staff retained the services of a consultant from the "Balanced Scorecard Institute" to review our existing strategic framework, along with the mission, vision, and values statement of the Town. The balanced scorecard system is designed to communicate our strategy throughout the organization/community, align our daily work activities to the overall vision, serve as the framework for prioritizing services, and utilize performance measures to evaluate our successes and opportunities. The Balanced Scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. In short, it is a tool that businesses use to ensure that their work meets their goals in a measurable way by connecting organizational strategy to the work people do on a day-to-day basis, i.e. "You said ... we did..." The graphic at the right illustrates the Balanced Scorecard approach and the following pages of this section demonstrate how Westlake has aligned with this framework. Components include the o Vision, Mission, Values, o Perspectives, o Strategy Map, Performance Measures o Strategic Initiatives. Each element is critical to the success of the municipality and helps us evaluate and communicate our performance STRATEGIC PLANNING & MANAGEMENT Upon review of the existing mission and vision statements, the Council provided feedback to the Town staff and requested an updated version for review. Staff reviewed the previous version and created a more succinct statement that identifies the unique service provision programs, describes our commitment to personal customer service, and outlines the financial stewardship component which is important to our community. After the staff analyzed the Town's strengths and weaknesses, as well as the opportunities and threats we face (SWOT), the information was presented to the governing Council during a retreat in May of 2013. 49 WITH A BALANCED SCORECARD STRATEGIC ALTITUDE CUSTOrVIER I STAKEHOLDER MARKET NEED 30,000 ft. MISSION , l VISION 25,000 ft. STRATEGIC PERSPECTIVES STRATEGIC THEMES AND RESULTS 15,000 ft. STRATEGIC OBJECTIVES 8 STRATEGY MAP PERFORMANCE MEASURES AND TARGETS Ground STRATEGIC INITIATTVES Level Upon review of the existing mission and vision statements, the Council provided feedback to the Town staff and requested an updated version for review. Staff reviewed the previous version and created a more succinct statement that identifies the unique service provision programs, describes our commitment to personal customer service, and outlines the financial stewardship component which is important to our community. After the staff analyzed the Town's strengths and weaknesses, as well as the opportunities and threats we face (SWOT), the information was presented to the governing Council during a retreat in May of 2013. 49 STRATEGIC PLAN OVERVIEW MISSION The mission statement describes what must be done to achieve the adopted vision. Town Council has adopted the following Mission statement for the Town: Westlake is a unique community blending preservation of our natural environment and viewscapes, while serving our residents and businesses with superior municipal and academic services that are accessible, efficient, cost-effective, and transparent. VISION The town's vision statement outlines what we strive to be. Upholding such a statement is a task that requires effort on multiple levels. The balanced scorecard system will help ensure that the Vision of the Town remains true in years to come. "An oasis of natural beauty that maintains our open spaces in balance with distinctive developments, trails, and quality of life amenities amidst an ever expanding urban landscape." VALUES Driving how the Town accomplishes its work are our corporate values. These are the principles that we hold important and standards by which the Town operates. These values, as adopted by the Town Council, and are designed to guide Town staff in their day to day work and the Council as it conducts its business: Integrity -Driven Government Transparent Sense of Community Strong Aesthetic Standards Informed & Engaged Citizens Preservation of our Natural Beauty 50 Innovation Fiscal Responsibility Educational Leaders Family Friendly & Welcoming Planned Responsible Development STRATEGIC PLAN OVERVIEW STRATEGIC PERSPECTIVES A Perspective is a view of the Town from a specific vantage point. Four basic perspectives are traditionally used to encompass a Balanced Scorecard organization's activities. The Town's business model, which encompasses mission, vision, and strategy, utilizes the four Perspectives as a framework: A balanced scorecard is divided into four unique perspectives that help the Town focus on the strategy that has been aligned to the vision and mission for our community. The four perspectives of the plan, which were customized by the Council, are as follows: STRATEGIC THEMES The Council grouped this information along with the major components of our previous strategic plan and ranked the importance of the concepts according to each area of concern. The final activity involved the formation of our "strategic themes" for the municipal services. Town staff then constructed strategy maps for each theme, identified a strategic result, populated the maps with strategic objectives and created an objective commentary document. All of this sets the framework for a comprehensive Tier One map for the municipal program of services. The current Balance Scorecard was adopted by Council in September 2014. Natural STRATEGIC PERSPECTIVES High Quality Citizens, Students, Financial Municipal and People, Facilities, and Stakeholders: Stewardship: Academic Operations: & Technolo ies: viewed through the Financial oversight; focuses on processes involves, work culture, eyes of our customers effective use of that create value for innovation, leadership, and stakeholders resources the customers and governance, tools and standard by desirable, well stakeholders technology necessary delivering planned, educational to provide services STRATEGIC THEMES The Council grouped this information along with the major components of our previous strategic plan and ranked the importance of the concepts according to each area of concern. The final activity involved the formation of our "strategic themes" for the municipal services. Town staff then constructed strategy maps for each theme, identified a strategic result, populated the maps with strategic objectives and created an objective commentary document. All of this sets the framework for a comprehensive Tier One map for the municipal program of services. The current Balance Scorecard was adopted by Council in September 2014. Natural Exemplary High Quality Exemplary Oasis Service & Planning, Design, Education - Governance & Development Westlake Academy Preserve and We set the We are a Westlake is an maintain a standard by desirable, well international perfect blend delivering planned, educational of the unparalleled high-quality leader where community's municipal and community that is each natural educational distinguished by individual's beauty. services at the exemplary design potential is lowest cost. standards. maximized. The Town Council has worked closely with staff to adopt a management system based on the Balanced Scorecard framework. This was developed to help the Town direct its own destiny rather than allow future events to do so. Through sound business principles the Town is able to more effectively provide services to the citizens of Westlake, increasing both efficiency and customer satisfaction. Ultimately, it guides the way the Town does business and helps us determine how we should invest our time and resources. In the budget process, this allows for increased transparency, clarity, and 51 STRATEGIC PLAN OVERVIEW accountability, providing the Town a framework for demonstrating results. The continued quality and success of this community does not happen without the diligent effort of a committed team of residents, businesses, community leaders, and staff. Years of consistent planning and strategic thinking has brought Westlake where it is today. OBJECTIVES AND PERFORMANCE MEASURES Performance measures hold government departments accountable. While allowing them to recognize their successes and adjust programs of service that are under performing. Because performance measures are determined according to the Strategy Map, it becomes evident how each department aligns with Town goals, and how well departments are meeting the expectations set by the Strategy Map. • Alignment between comp plan, zoning & dev. Regulations Preserve Desirability • Ratio of exemplary schools in/around Westlake & Quality of Life • Enrollment composite (capacity vs. wait list) Citizens, • Student successes from WA Students, • Direction Finder survey results • Attrition rate And Stakeholders Average length of time residents live in Westlake Increase Percentage of leavers (all) CSS External validation points (awards per year) Satisfaction Direction Finder survey results • Percentage of violations issued to residents due to failure to meet development/code requirements Increase Financial • Fund Balance Financial Capacity & Reserves • Quarterly financial report data Increase Revenue Streams Local revenue monitoring Stewardship • Percent of revenues budgeted • Percentage of time spent on Q2 planning and implementation Maximize Efficiencies • Number of policies and procedures updated/passed (quarterly) & Effectiveness • Number of internal processes reviewed and updated each quarter Municipal Encourage • Percentage of first submission plans that meet And Westlake's Unique environment/development goals Academic Sense of Place • Percentage of CSS participation events/meetings • Increased survey completion (All) Operations Increase Transparency, • Direction Finder survey (effectiveness of town communications, Accessibility & effort to keep residents informed, opportunities for public input Communications and availability of town records. • Email/website statistics • Percentage of qualified candidates within applicant pools Attract, Recruit, Retain • Time to fill positions & Develop the Highest • Percent of increased competency specific Quality Workforce • Employee turnover rate People, • Employee satisfaction results Facilities, • Overtime vs. Comp time and Improve Technology, • Critical infrastructure downtime Technologies Facilities & Equipment • Cost of repairs vs. replacement costs • Projected CSS growth Optimize Planning & . Direction Finder survey results Development Capabilities . Percentage of deadline compliance 52 STRATEGIC PLAN OVERVIEW These performance measures help determine the quantity and quality of our work, as identified in our plans. We consistently evaluate our work and review our performance quarterly because we firmly believe that what gets measured gets done. In addition to monitoring these performance measures, the Town of Westlake also desires the opinion of its citizens. Every two years Westlake undertakes a broad citizen survey designed to measure government performance and to gauge the current and future needs of residents. This survey is an incredibly useful tool within the strategic management system, and it allows Town services to be tailored based upon citizen attitudes. Westlake's performance measures are evolutionary and undergo on-going review. As we improve our ability to gather and mine data about our work, we will be able to add performance measures to the departmental business plans as a gauge of success. These departmental efficiency and effectiveness measures will be grouped with the appropriate outcome objective then fed into the Town -wide scorecard to give an overall picture of the Town's performance. As the Town continues to develop these scorecards, measurement units, data sources, and targets will be refined. Through quarterly performance reviews, departmental performance is documented. Trends are also tracked over time through budget documents. TOWN OF WESTLAKE STRATEGY MAP Citizen, Preserve Student & Desirability & Increase CSS Satisfaction Quality of Life Stakeholder Financial Increase Increase Financial Capacity Revenue Stewardship / Reserves Streams Municipal & Maximize Encourage Increase Academic Efficiencies & Westlake's Unique Sense Transparency Accessibility & Operations Effectiveness of Place Communications People, Optimize p Attract, Recruit, Improve Facilities & Retain & Develop Technology, Planning & Technology the Highest Quality Facilities & Development Workforce EaUlDment Capabilities 53 STRATEGIC PLAN OVERVIEW WESTLAKE'S STRATEGIC DEVELOPMENT / BUDGET CYCLE Establishing a link between a Town's strategy and budget is fundamental to effective public budgeting. Westlake works hard to connect the strategy management system to the budget process. Incorporating the Strategy Map into resource allocation decisions ensures the Town budget reflects the priorities of the Town Council. The illustration below depicts the annual process of developing the Town's budget. The budget process, like the Strategy Map, connects each department to the organization as a whole. At the micro level, Town departments work to provide quality services to the citizens of Westlake. At the macro level, departments use the Strategy Map to make budgetary requests to help and guide long range planning so that these services can be performed. As the Budget Cycle illustration indicates, the process never ceases. December Novemb Pr P.tl- to Annual Audit TMO.IDepts. Faia!¢e Annual Repan October Sunray [i�cns 8 Emp�yees January ' Februa Fa�akze Annual Audit Present Annual Audit st Q—t— to Caundi Reporti ng March Survey Preparatean luarter *gadget orting KaaR •CztE- 4�mg CIP At the beginning of each Mugu 51 Finalgudget PreAminary Now ----N Butlget Prcyecizms Pres fiscal year, in October, we conduct or review the results from the most July lune recent citizen survey; this aids staff in focusing its work for the coming year. Then a meeting with Town Council provides an opportunity to review the strategic direction, followed by the creation of departmental business plans. In order for funding to be allocated, departments must follow the Strategy Map to align requests with the goals, mission, and vision of Westlake. Strategic planning plays an integral role in the development of each year's budget and ensures the Town's ability to meet the needs of a growing community. To be effective, the Town must direct resources to those areas most essential to the community's wellbeing. 54 This page is intentionally blank 55 PERSONNEL AND ORGANIZATION F"w IT Y 7. 7 .:20w. 6-0 Dom CL IF T E I +� 0 09-22-2014 Oft.a " r Lr vis* 10 IIIT STRATEGY THE TOWN Or- WESTLAKE * 3 VILLAGE CIRCLE #202 * ESTLAKE, TExAS 76262 WWW.WESTLAKE-TX.O RG PERSONNEL SUMMARY OVERVIEW Personnel staffing levels for the Town of Westlake are presented in full-time equivalents (FTE) positions. For example, a position staffed for 40 hours per week for 52 weeks per year (2,080 hours) equals one full-time equivalent position. For firefighter/paramedic positions, an FTE is based on 2,912 hours per year, or an average of 56 hours per week is used. An FTE position of .50 refers to a position that is funded for 1,040 hours per year (2,080 x .50). The personnel count includes vacant positions. Description FY 13/14 Estimated FY 14/15 Adopted 2,862,360 change Amount 522,615 change percent 22% PR Wages 2,339,745 PR Insurance 325,884 456,028 130,144 40% PR Taxes 209,783 226,713 16,931 8% PR Retirement 193,291 283,131 89,840 46% GRAND TOTAL $3,068,704 $3,828,232 $ 759,529 2517o This increase is comprised of; A. $71 K base costs to maintain our current staff levels; B. $65K for 3% market pay adjustments for work force attraction; C. $54K performance based incentive pay; D. $8K newly recommended allocation for cell phone reimbursement for Directors and on-call personnel). A portion of these increased expenditures is subsidized by transfers in from the Utility Fund ($30K) and the Visitors Association Fund ($92K) FY 14/15 Payroll and related expenditures increased $759,529 Compared to FY 13/14 estimated. 57 AMOUNT BRIEF DESCRIPTION OF COST INCREASE 35,753 Change employee to full time 35,753 Status Change 77,987 Additional Firefighter Paramedic 19,592 Additional Part -Time Court Clerk 97,579 New Employees 68,503 Accounting Technician 120,860 Information Technology Director 189,363 Transfers from Westlake Academy 130,144 Increased Insurance Costs 16,931 Increased Taxes 89,840 Increased TMRS 236,914 Taxes and Insurance and Retirement A 71,394 Maintain cost of current staff 71,394 Maintain cost of current staff B 65,636 3% Market Pay Adjustment C 54,250 Performance Incentive Pa D 8,640 Cell Phone Allowance 128,526 Expanded Payroll $ 759,529 GRAND TOTAL 57 PERSONNEL SUMMARY OVERVIEW The total personnel staffing for the Town of Westlake in FY 2014-2015 is budgeted at 128.18 positions. This represents an increase of 18.00 employees from the FY 2013-2014 total of 1 10.18. Police Services continue to be outsourced and contracted through the Keller Police Department. Det 1 1 Department Name Town Manager FY 13/14 Estimated 2.50 FY 14/15 Adopted 2.40 change Amount 0.10 Percent of total 2% 12 Planning & Development 1.58 1.67 0.08 1 13 Town Secretary 1.00 1.00 - 1 14 Emergency Services 12.25 13.25 1.00 10% 15 Municipal Court 4.75 5.10 0.35 4% 16 Public Works 2.58 2.67 0.08 2% 17 Facilities Maintenance 1.04 1.08 0.04 1 18 Finance Dept 3.25 4.00 0.75 3% 19 Park & Recreation 0.79 0.83 0.04 1 20 Information Technology - 1.00 1.00 1% 21 Human Resources 2.00 2.00 - 2% 22 Communications 1.25 2.00 0.75 2% 99 Westlake Academ 77.18 91.18 14.00 71 Total Employees 110.18 128.18 18.00 100% • New positions (increased 15.50) o Dept 14 Emergency Services - increased 1.00 - add full time firefighter paramedic. o Dept 15 Municipal Court - increased .50 - add part time clerk. o Westlake Academy - increased 14.00 • Transition of shared services employees from Westlake Academy to Municipal budget o Dept 18 - Accounting Technician o Dept 20 - Information Technology Director • Status Change (increased .50) o Dept 1 1 Administrative - decreased by .25 - employee moved 100% to Dept 22 o Dept 22 Communications and Community Affairs - increased by .75 - transition of part-time Communication Specialist to a full-time position. • Reallocation of Existing Employees (no impact) o Dept 1 1 Administrative - increased .15 o Dept 12 Planning and Development - increased 0.08 o Dept 15 Municipal Court - decreased .15 o Dept 16 Public Works - increased .08 o Dept 17 Facilities Maintenance - increased .04 o Dept 18 Finance - decreased .25 o Dept 19 Parks and Recreation - increased .04 N Department Name General Fund PERSONNEL SUMMARY OVERVIEW Visitor Fund Westlake Academy EMPLOYEE ALLOCATIONS BY FUND 0.36 - Planning &Development 1.67 - - - Town Secretary 1.00 - - - Emergency Services 13.25 ■ Utility - - Municipal Court 5.10 - - Fund, Public Works 0.50 2.17 - - Facilities Maintenance ■ General 318 Visitor 0.54 - Finance Dept 2.80 0.60 Fund, 3% Fund, Park &Recreation 0.42 - 0.42 - 29.86 3.97 - - - Human Resources 1.90 23% 0.05 - Communications - - 2.00 - Westlake Academy Total Employees - 29.86 - 3.18 - 3.97 91.18 91.18 ■ Westlake Academy, 91.18 71% EMPLOYEES BY CLASSIFICATION Department Name Full Time Part Time TOTAL ■ Part Time, Town Manager 1.90. 0.50 2.40 2.25 , Planning &Development 1.67 - 1.67 2% Town Secretary ■ Full Time, 104.68 , 98°% Total Employees 124.43 3.75 128.18 59 Department Name General Fund Utility Fund Visitor Fund Westlake Academy Town Manager 1.68 0.36 0.36 - Planning &Development 1.67 - - - Town Secretary 1.00 - - - Emergency Services 13.25 - - - Municipal Court 5.10 - - - Public Works 0.50 2.17 - - Facilities Maintenance 0.54 - 0.54 - Finance Dept 2.80 0.60 0.60 - Park &Recreation 0.42 - 0.42 - Information Technology 1.00 - - - Human Resources 1.90 0.05 0.05 - Communications - - 2.00 - Westlake Academy Total Employees - 29.86 - 3.18 - 3.97 91.18 91.18 1.00 - 1.00 Emergency Services 11.00 2.25 13.25 Municipal Court 4.10 1.00 5.10 Public Works 2.67 - 2.67 Facilities Maintenance 1.08 - 1.08 Finance Dept 4.00 - 4.00 Park &Recreation 0.83 - 0.83 Information Technology 1.00 - 1.00 Human Resources 2.00 - 2.00 Communications 2.00 - 2.00 Westlake Academy 91.18 - 91.18 PERSONNEL SUMMARY OVERVIEW At the end of FY 13/14 there is estimated to be 1,150 residents and 33 employees. This equals a ratio of 34.85 residents per each full-time equivalent employee. This is a decrease of 1.51 based on the FY 12/13 FTE postions of 30.50 and 1,109 residents. FY 10/11 FY 11/12 FY 12/13 FY 13/14 Actual Actual Actual Estimated Number of Town Employees 28.75 29.50 30.50 33.00 Number of Residents 992 1,063 1,109 1,150 Residents per Town Employee 34.50 36.03 36.36 34.85 Municipal0 Town Secretary, hd Information 1.00,3% Technology, Employees 1.00,3% © Planning & v Emergency Services, Development, 1.67,5% 13.25 , 36% W Facilities & Parks, 1.92,5% V Human Resources 2.00,5% ® Communications 2.00,5% o Town Manager, V Municipal 2.40,6% Court, 5.10 , v Public Works, 14% M Finance, 2.67,7% 4.00,11% 60 PERSONNEL SUMMARY OVERVIEW EMPLOYEES BENEFITS Description FY 13/14 Estimated FY 14/15 Adopted change amount Change percent Medical Insurance 288,702 412,433 123,731 43% Dental Insurance 21,309 23,638 2,329 11% Life Insurance 15,873 19,957 4,084 26% TMRS Retirement 171,236 258,931 87,695 51% ICMA Retirement 22,055 24,200 2,145 10% Social Security Taxes 144,431 157,337 12,905 9% Medicare Taxes 33,736 36,750 3,014 9% Unemployment Taxes 4,039 3,090 (949) -23% Worker's Compensation 27,577 29,537 1,960 7% $ 728,958 $ 965,872 $ 236,914 33% COMPENSATION PLAN Non -Exempt Positions Town employee benefits have increased $236,914 (330). This increase is caused by many factors, including the addition 3.5 new full time employees and increases in wages for existing employees. All non-exempt (hourly) positions are eligible for overtime compensation. Bi -weekly wages are based on a 40 -hour work week (2,080 hours per year), equaling one full-time equivalent (FTE) position. There are 26 pay periods per year. This work schedule applies to all hourly regular, year- round employees, except for Fire/EMS employees. Non -Exempt Positions (Fire/EMS Department) Non-exempt (hourly) positions in the Fire/EMS Department are eligible for overtime pay. Pay periods are 15 days in length, and there are 24 pay periods per year. Full-time employees are scheduled to work five (5) 24-hour shifts per pay period, totaling 120 hours. Full-time employees are scheduled to work an average of 2,912 hours annually over 24 pay periods. Exempt Positions Exempt (salaried) positions are not eligible for overtime compensation. Salary amounts are not calculated or based on the number of hours worked. Exempt positions include managers and directors, and classifications are determined by Department of Labor guidelines. Fair Labor Standards Act (FLSA) The Fair Labor Standards Act established minimum wage, overtime, recordkeeping, and child labor standards and applies to all full-time and part-time employees. As amended in 1985, the FLSA provides the option for compensatory time in lieu of overtime compensation for non-exempt employees. Executive, administrative, and professional employees meeting Department of Labor exemption guidelines are exempt from FLSA overtime requirements. The Town will comply with the FLSA for all employees. M. PERSONNEL SUMMARY OVERVIEW Salary Survey In the previous two fiscal years, market-based salary adjustments were approved as a Service Level Adjustment (SLA) to bring staff closer to market. Phase 1 of this market adjustment was implemented in FY 2012-2013, and Phase 2 was implemented in FY 2013-2014. From a policy perspective, this program brought municipal employees into alignment with the compensation policy we have utilized for some time with our education employees, by being within 3 percent of the median of the market. The Town of Westlake salary survey has historically utilized data from the Waters Consulting Group; the most widely used municipal salary database in the state of Texas. Where possible, data has been collected for comparable positions from a list of "core cities." However, data is not always reported for every position from these core cities, or the positions listed are not sufficiently comparable. For these reasons, data has also obtained from alternate cities in the DFW area to supplement data from the core cities in order to provide a sufficient sampling of the market in our geographical region. In FY 2014-2015, the methodology for our annual salary survey will be reviewed by an outside consultant in conjunction with the development of the compensation plan. The ultimate goal of the compensation plan is to attract and retain top talent, and utilize best practices in all systems and processes supporting the plan. Keller Southlake Grapevine Colleyville Haltom City Hurst Euless Bedford North Richland Hills Richland Hills Roanoke Trophy Club Watauga Addison Forney Little Elm Frisco Melissa Azle Red Oak Benbrook Garland Burleson Granbury Saginaw Gainesville Sherman Coppell Waxahachie Corinth Joshua Denton DeSoto Highland Village Lancaster Wylie Lewisville Fairview Cleburne Farmers Branch Alvarado McKinney White Settlement Cedar Hill Duncanville Highland Park Rockwall Weatherford Greenville Keller ISD Allen Northwest ISD 62 PERSONNEL SUMMARY OVERVIEW Pay Increases It is the policy of the Town of Westlake to conduct salary survey of surrounding cities. Salary adjustments will be made in order to remain competitive. Merit increases are awarded at the discretion of the Town Manager. At the Town Manager's discretion, employees may receive additional pay adjustments above the standard annual merit increase. In the event that additional pay adjustments are authorized, the authorization date will become the new anniversary date for future pay increases. This policy does not apply to one-time merit payments. All forms of compensation (including but not limited to; and pay increases, cost of living adjustments, merit pay, market adjustments, and position reclassifications) are subject to available funding and approved appropriation of the Town Council. Market Adjustments The Human Resources Department will conduct a yearly market analysis. If any market adjustment is approved, all pay ranges and steps will be adjusted accordingly on the first day of the fiscal year. The Town maintains a compensation plan for all employees, except the Town Manager, whose compensation is determined by the Town Council. In FY 14-15, the Town will utilize the services of a outside consultant to design and implement an employee compensation plan. This plan will be designed to meet the needs of the Town's unique organizational structure, and maintain a competitive compensation and benefit package. 63 MAYOR •COUNCIL Town Texas Student Attorney Housing Executive Principal Director of Education Asst Principal / Athletic Director Director of Curriculum & Instruction Administrative Coordinator Administrative Staff Nurse PYP Primary Principal PYP Coordinator Primary Counselor Primary Teachers Librarian MYP Secondary Principal MYP Coordinator —F Secondary Counselor Secondary Teachers Town Secretary Communications �r Communication Specialist Planning & Development / uilding Inspector _T Customer Service Coordinator (.33) Customer Service Representative (.33) Human Resources Human Resources Generalist Information Technology WA Technician Police Services (contracted thru the Citv of Keller) 64 Executive Director W.A. Foundation Assistant Fire Chief Assistant Town Manager kIntern Judge Deputy Clerk 3 Lieutenants 7 FTE Firefighter 1.50 PT Firefighter Paramedics Paramedics Facilities Maintenance / Parks &Recreation Customer Service Coordinator (.33) Technician Customer Service Representative (.33) Public Works Customer Service Coordinator (.33) Technician Customer Service Representative (.33) Finance Supervisor Academic i I—Municipal Court Administrator Marshal Two (.50) Court Clerks Exemplary Governance Town Officials, Both Elected and Appointed, Exhibit Respect, Stewardship, Vision, and Transparency Service Excellence Public Service that is Responsive and Professional, while balancing Efficiency, Effectiveness and Financial Stewardship Personnel Position Summary All Years Dept Position FY 11/12 FY 12/13 FY 13/14 FY 14/15 change Actual Actual Estimated Adopted 11 Town Manager 1.00 1.00 1.00 1.00 - Assistant Town Manager - - 0.75 0.90 0.15 Assistant to the Town Manager 0.75 0.75 - - - Part -Time Interns 0.75 1.00 0.50 0.50 _ Administrative Assistant - - 0.25 - 0.25) 12 Planning & Development Director 1.00 1.00 1.00 1.00 Administrative Assistant 0.33 0.33 - - Customer Service Coordinator - - 0.25 0.33 Customer Service Representative - - 0.33 0.33 13 Town Secretary 1.00 1.00 1.00 1.00 14 Fire Chief 1.00 1.00 1.00 1.00 Lt. Firefighter/Paramedics 2.00 2.00 3.00 3.00 Fire Marshal part-time - - 0.75 0.75 - Firefighter/Paramedics FTE 6.00 6.00 6.00 7.00 1;00" Firefighter/Paramedics part-time 1.50 1.50 1.50 1.50 15 Court Administrator 0.25 0.25 0.25 0.10 Supervisor 1.00 1.00 1.00 1.00 Deputy Clerk 1.00 1.00 1.00 1.00 Judge 1.00 1.00 1.00 1.00 Marshal 1.00 1.00 1.00 1.00 Part -lime Clerk 0.50 0.50 0.50 1.00 0.59 16 Public Works Director 1.00 1.00 1.00 1.00 Utility Technician 1.00 1.00 1.00 1.00 Part -Time Utility Billing Clerk - 0.75 - - Customer Service Coordinator - 0.25 0.33 Customer Service Representative - - 0.33 0.33 17 Facilities Maintenance Director 0.50 0.50 0.50 0.50 Part -Time Technicians 0.25 0.25 0.25 0.25 Administrative Assistant 0.33 0.33 - - Customer Service Coordinator - - 0.13 0.17 Customer Service Representative - - 0.17 0.17 18 Finance Director 1.00 1.00 1.00 1.00 Finance Supervisor - 1.00 1.00 1.00 Finance Assistant 1.00 - - - - Accounting Technicians 1.00 1.00 1.00 2.00 1.00 Customer Service Coordinator - - 0.25 - 19 Parks & Recreation Director 0.50 0.50 0.50 0.50 Customer Service Coordinator - - 0.13 0.17 Customer Service Representative - - 0.17 0.17 - 20 Information Technology Director 0.50 0.25 - 1.00 1.00' 21 Human Resources Director 0.50 0.75 1.00 1.00 - Part -Time Clerk 0.50 0.50 - - Administrative Assistant 0.34 0.34 - - HR Generalist - - 1.00 1.00 22 Communications Director 1.00 1.00 1.00 1.00 - Part -Time Intern (1) - - 0.25 1.00 0.75 99 Westlake Academy 69.53 73.07 77.18 91.18 14.00 Grand Total All Positions 99.03 103.57 110.18 128.18 18.00 Municipal Academy Total - RECLASS - Dept 12-15-17-18-19 FY 10/11 28.75 60.44 89.19 2.00 TRANSFER FROM WA Dept 18-20 FY 11/12 29.50 69.53 99.03 15.50 NEW EMPLOYEES - Dept 14-15 FY 12/13 30.50 73.07 103.57 0.50 STATUS CHANGE - Dept 22 FY 13/14 33.00 77.18 110.18 18.00 Fotal Changes FY 14/15 37.00 91.18 128.18 65 Recommended 5 Year Staffing Levels includes all interns and part-time employees Based on existing development within the community at the time of compiliation Dept # Department Name FY 12-13 1 FY 13-14 FY 14-15 1 FY 15-16 FY 16-17 1 FY 17-18 1 FY 18-19 actual estimated proposed proposed I proposed proposed proposed 1 1 Administration 2 75 2 50 240 3 50 3 50 3 50 3 50 12 Planning & Dev. 1.58 1 1. 1.33 13 Town Secretary 1.00 1.00 I. 14 Fire & EMS 10.50 12.25 13. 15 Court 4.75 4.75 5.1 16 Public Works 2.75 2.58 2. 17 Facilities 18 Finance 19 Parks and Rec 20 IT Dept 21 Human Resources 22 C ; f 1.08 3.00 0.50 1.04 3.25 0.79 - 2.00 2 1. 4. 0. 0.25 1. 1.59 2. 10 2 ommunica ions 0 1. 5 TOTAL TOWN 30.50 33.00 199 Westlake Academy 73.07 77.18 TOTAL STAFFING 103.57 110.18 200 180 160 140 120 100 80 60 40 20 0 67 2.67 3.00 3.00 3.00 00 1.50 1.50 1.50 1.50 25 14.25 15.25 17.00 18.00 0 5.00 5.00 5.00 5.00 67 2.67 4.00 4.00 4.00 08 1.58 1.75 1.75 1.75 00 i 4.50 4.50 4.50 5.00 83 1.33 1.50 1.50 1.50 00 1.00 2.00 2.00 2.00 00 2.00 2.00 2.00 2.50 00 2 00 2 00 2 00 2 00 37.00 42.00 46.00 47.75 49.75 91.80 102.00 112.00 122.25 132.25 128.80 144.00 158.00 170.00 182.00 Recommended 5 Year Staffing Levels FY 12-13 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 actual estimated proposed proposed proposed proposed proposed :. 37.00 42.00 46.00 47.75 49.75 91.80 102.00 112.00 122.25 132.25 128.80 144.00 158.00 170.00 182.00 Recommended 5 Year Staffing Levels FY 12-13 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 actual estimated proposed proposed proposed proposed proposed :. This page is intentionally blank 67 FINANCIAL ANALYSIS w CL O -ALL FUNDS- kolillITY "S I 14`7�17 GRo� �f 114E `.� •. ]� Y Abb-PTED- d 09-22-2014 ;156�'A yr '" ■ ALUE MISSION s �` STRATEGY THt ToWN OF WESTLAKE * 3'VILLAGE CIRCLE #2_02 * WESTLAKE,TExAS 76262 * W1N'MAIMESTLAKE-MORG This page is intentionally blank .• Description REVENUES & OTHER SOURCES General Sales Tax Property Tax Beverage Tax Franchise Fees Permits & Fees Fines & Forfeits Investment Earnings Misc Income Charge for Services Contributions Hotel Tax Revenues TOTALREVENUES THREE YEAR ANALYSIS COMPARISON REVENUES, EXPENDITURES, FUND BALANCE ALL SOURCES FISCAL YEAR 2014/2015 FY 12/13 FY 13/14 FY 14/15 Actual Estimated Adopted 4,375,397 4,500,000 4,635,000 1,366,542 1,330,346 1,376,063 39,727 50,000 50,500 734,935 787,508 795,383 969,735 1,008,500 1,460,500 695,167 645,000 670,000 29,177 32,915 27,490 321,568 485,813 270,748 3,160,859 2,822,960 3,278,520 5,908,550 82,500 760,000 709,578 770,000 777,000 18,311,233 12,515, 542 14,101,204 Transfers In 2,654,929 Actual 3,379,774 change 4,797,277 Other Sources 10,823,210 13,478,140 5,936,538 38,765 466,775 3,846,549 7,036,474 (50,167) 1,125,000 5,922,277 7,567,293 Transfers/Other Sources WA -Revenues WA -Other Sources 40,959 5,977,497 19,455,637 $ 37,766,869 (337,899) 331,266 7,367,740 11,214,289 23,729,831 $ 45,000 7,612,293 13,534,570 27,635,774 Westlake Academy TOTAL OTHER SOURCES (5,795,691) TOTAL REVENUES AND OTHER SOURCES 27% (10,356,435) -96% (9,631,590) -717. EXPENDITURES & OTHER USES Payroll Salaries 2,067,557 709% 2,339,745 2376 2,862,360 Insurance 274,528 60% 325,884 -39% 456,028 Taxes 171,800 209,783 226,713 Retirement 174,016 2,687,901 198,760 193,291 3,068,704 246,926 283,131 3,828,232 225,796 Total Payroll & Related Supplies Service 2,516,521 3,001,498 3,352,971 Insurance 32,924 35,310 36,404 Maintenance 203,212 299,827 314,675 Rent & Utilities 532,803 468,782 468,812 Interfund Advance 296,565 205,758 205,758 Debt 4,493,957 2,343,746 2,557,984 Water Purchases 965,192 9,239,934 11,927,835 50,770 1,134,600 7,736,447 10,805,151 46,700 1,280,600 8,443,000 12,271,233 36,280 Total Expenditures TOTAL OPERATIONS Capital Outlay Capital Projects 8,046,108 8,096,878 2,654,929 12,039,809 12,086,509 3,379,774 5,959,305 5,995,585 4,797,277 Total Capital Transfers Out Other Uses 0 2,654,929 5,763,616 0 3,379,774 6,968,063 0 4,797,277 7,803,324 Transfers/Other Uses WA - Expenditures WA -Other Uses 40,959 5,804,575 16,556,382 $ 28 484,217 $ 331,266 7,299,329 22,765,612 33,570,763 $ 45,000 7,848,324 18,641,186 30,912,419 Westlake Academy TOTAL OTHER USES TOTAL EXPENDITURES AND OTHER USES $ 9,282,652 $$ (� $ (3,276,645) Excess RevenuesOver (Under) Expenditures $ 15,919,518 $ 25,417,321 $ 15,576,389 BEGINNING FUND BALANCE ENDING FUND BALANCE25,417,321 $ 15,576,389 $ 12,299,744 70 FY 12/13 vs FY 13/14 Actual Estimated change change Amount Percent 124,603 3% (36,196) -3% 10,273 26% 52,573 7% 38,765 4% (50,167) -7% 3,738 13% 164,244 51% (337,899) -11% (5,826,050) -99% 60,422 9% (5,795,691) -32% 724,845 27% (10,356,435) -96% (9,631,590) -717. 1,099,936 19% 290,307 709% 1,390,243 2376 (8,241,347) -42% Adopted Estimated $ (14,037,038) -37% 272,188 51,356 37,983 19,275 13% 19% 22% 11% 380,802 14% 48,165 484,978 2,386 96,615 (64,021) (90,807) (2,150,211) 169,408 24% 19% 7% 48% -127o -31% -48% 18% (1,503,487) -167. (1,122,685) -9% (4,070) 3,993,701 -8% 50% 3,989,631 49% 724,845 0 27% 0% 724,845 27% 1,204,447 290,307 21% 709% 1,494,754 26% 6,209,230 38% $ 5,086,546 18% $ (19,1231584) -206% $ 9,497,803 60% $ (9,840,932) -39% FY 14/15 vs FY 13/14 Adopted Estimated change change Amount Percent 135,000 3% 45,717 3% 500 1% 7,875 1% 452,000 45% 25,000 4% (5,425) -16% (215,065) -44% 455,560 16% 677,500 821% 7,000 T% 658,225 141% (286,266) -86% 244,553 3% 2,320,281 217. $ 3,905,943 167o 522,615 22% 130,144 40% 16,931 8% (21,130) -9% 351,473 12% 1,094 3% 14,848 5% 30 0% 0 0% 214,238 9% 146,000 13% 1,466,082 1476 (6,080,504) -51% (6,090,924) -50% 1,417,503 42% 835,261 12% (286,266) -86% 548,995 8% (4,124,426) -18% f 17 ArA Odd\ -AW 6,564,287 $ (9,840,932) -39% $ (3,276,645) -21% Description REVENUES& OTHER SOURCES General Sales Tax Property Tax Beverage Tax Franchise Fees Permits & Fees Fines & Forfeits Investment Earnings Misc Income Donations Charge for Services Contributions I-In1cl Trvv Ac„cni irvc iorai revenues Transfers In Other Sources Total Other Sources WARevenues WA-Other Sources Westlake Academy Total Revenues and Otho, q-, EXPENDITURES & OTHER USES Payroll Salaries Payroll Transfer In Payroll Transfer Out Insurance Taxes Rcfiramcnf iorm rayron Supplies Service Insurance Maintenance Rent & Utilities Interfund Advance Debt Wnt- Pi imh-- rami rxpenanures Capital Outlay Capital Projects Total Capital Transfers Out Other Uses Total Other Uses WA - Expenditures WA Other Uses Westlake Academy Total Expenditures and Other Use Excess Revenues Over (Under) Expenditures BEGINNING FUND BALANCE ENDING FUND BALANCE THREE YEAR ANALYSIS COMPARISON REVENUES, EXPENDITURES, FUND BALANCE ALL SOURCES - BY FUND TYPE FISCAL YEAR 2014/2015 71 GENERAL FUND SPECIAL REVENUES FUNDS DEBT SERVICE FUND ENTERPRISE FUNDS FY 12/13 FY 13/14 FY 14/15 FY 12/13 FY 13/14 FY 14/15 FY 12/13 FY 13/14 FY 14/15 FY 12/13 FY 13/14 FY 14/15 Actual Estimated Adopted Actual Estimated Adopted Actual Estimated Adopted Actual Estimated Adopted 3,061,947 3,275,000 3,376,250 1,313,449 1,225,000 1,258,750 0 0 0 0 0 0 1,236,978 1,189,825 1,209,094 0 0 0 129,565 140,522 166,969 0 0 0 39,727 50,000 50,500 0 0 0 0 0 0 0 0 0 734,935 787,508 795,383 0 0 0 0 0 0 0 0 0 967,735 1,008,500 1,458,500 0 0 0 0 0 0 0 0 0 695,167 645,000 670,000 0 0 0 0 0 0 0 0 0 7,491 8,670 8,670 2,187 3,445 3,445 0 0 0 6,412 6,525 6,100 78,014 55,959 60,094 16,575 18,650 18,650 (0) 0 0 226,980 402,704 192,004 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,160,859 2,822,960 3,278,520 11,094 0 0 0 0 440,000 0 0 0 0 0 0 0 0 0 709,578 770,000 777,000 0 0 0 0 0 0 6,833,087 7,020,461 7,628,491 2,041,788 2,017,095 2,497,845 129,564 140,522 166,969 3,394,250 3,232,189 3,476,624 59,826 50,520 306,965 35,758 35,758 35,758 1,459,344 1,924,966 2,139,554 500,000 0 0 0 0 0 0 0 0 2,237,723 0 0 0 0 0 59,826 50,520 306,965 35,758 35,758 35,758 3,697,067 1,924,966 2,139,554 500,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 6,892,914 $ 7,070,981 $ 7,935,456 $ 2,077,546 $ 2,052,853 $ 2,533,603 $ 3,826,632 $ 2,065,488 $ 2,306,523 $ 3,894,250 $ 3,232,189 $ 3,476,624 2,065,459 2,339;745 2,862,360 0 0 0 0 0 0 2,098 0 0 (529,037) (607,660) (809,308) 0 0 0 0 0 0 0 0 0 0 0 0 255,225 286,107 457,110 0 0 0 273,812 321,554 352,198 274,528 325,884 456,028 0 0 0 0 0 0 0 0 0 171,800 209,783 226,713 0 0 0 0 0 0 0 0 0 174,016 193,291 283,131 0 0 0 0 0 0 0 0 0 2,156,767 2,461,043 3,018,925 255,225 286,107 457,110 0 0 0 275,910 321,554 352,198 168,558 235,921 213,041 25,159 2,905 4,155 0 0 0 5,044 8,100 8,600 1,486,875 2,194,112 2,572,259 204,745 201,982 209,224 63,813 1,677 2,000 637,772 603,728 569,489 28,144 30,520 31,614 0 0 0 0 0 0 4,780 4,790 4,790 105,268 126,962 159,060 0 0 0 0 0 0 97,944 172,865 155,615 397,680 299,812 299,842 36,390 36,435 36,435 0 0 0 98,733 132,535 132,535 0 0 0 296,565 205,758 205,758 0 0 0 0 0 0 0 18,339 18,339 0 0 0 3,783,994 2,077,157 2,292,658 709,962 248,250 246,987 0 0 0 0 0 0 0 0 0 965,192 1,134,600 1,280,600 2,186,524 2,905,665 3,294,154 562,860 447,080 455,572 3,847,807 2,078,834 2,294,658 2,519,427 2,304,868 2,398,616 30,039 31,700 16,280 0 0 0 0 0 0 20,731 15,000 20,000 0 0 0 0 0 0 0 0 0 211,407 1,486,164 288,500 30,039 31,700 16,280 0 0 0 0 0 0 232,138 1,501,164 308,500 1,090,392 1,588,524 2,276,612 1,463,730 1,290,220 1,776,920 0 0 0 64,409 301,030 743,745 0 0 0 0 0 0 0 0 0 0 0 0 1,090,392 1,588,524 2,276,612 1,463,730 1,290,220 1,776,920 0 0 0 64,409 301,030 743,745 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 5,463,721 $ 6,986,933 $ 8,605,971 $ 2,281,815 $ 2,023,407 $ 2,689,602 $ 3,847,807 $ 2,078,834 $ 2,294,658 $ 3,091,884 $ 4,428,615 $ 3,803,059 $ 1,429,193 $ 84,048 $ (670,515) $ (204,268) $ 29,446 $ (155,999) $ (21,175) $ (13,346) $ 11,865 $ 802,366 $ (1,196,426) $ (326,435) $ 4,383,390 $ 5,812,583 $ 5,896,631 $ 1,244,506 $ 1,040,238 $ 1,069,684 $ 22,657 $ 1,481 $ (11,865) $ 5,045,889 $ 5,848,255 $ 4,651,829 LL5812,583 $ 5,896,631 $ 5,226,116 $ 1,040,238 $ 1,069,684 $ 913,685 $ 1,481 $ (11,865) $ $ 5,848,255 $ 4,651,829 $ 4,325,394 71 Description REVENUES & OTHER SOURCES General Sales Tax Property Tax Beverage Tax Franchise Fees Permits & Fees Fines & Forfeits Investment Earnings Misc Income Donations Charge for Services Contributions Hotel Tax Revenues Total Revenues Transfers In r)thar' n - - wesnake Academy Total Revenues and EXPENDITURES & OTHER USES Payroll Salaries Payroll Transfer In Payroll Transfer Out Insurance Taxes Pati --n+ roma rayron Supplies Service Insurance Maintenance Rent & Utilities Interfund Advance Debt Wnt- P, -h-, i vrar cxpenaeures Capital Outlay Capital Projects Total Capital Transfers Out Other Uses Total Other Uses WA- Expenditures WA -Other Uses Westlake Academy Total Expenditures and Other Uses Excess Revenues Over (Under) Expenditures SINNING FUND BALANCE DING FUND BALANCE INTERNAL SERVICE FUNDS CAPITAL PROJECT FUNDS WESTLAKE ACADEMY FY 12/13 FY 13/14 FY 14/15 FY 12/13 FY 13/14 FY 14/15 FY 12/13 FY 13/14 FY 14/15 Actual Estimated Adopted Actual Estimated Adopted Actual Estimated Adopted 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,000 0 2,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,936 1,875 1,875 11,151 12,400 7,400 0 0 0 0 0 0 0 8,500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,897,456 82,500 320,000 0 0 0 0 0 0 0 0 0 0 0 0 3,936 1,875 3,875 5,908,607 103,400 327,400 0 0 0 600,000 538,530 725,000 0 830,000 1,590,000 0 0 0 6,250 0 0 8,579,237 466,775 1,125,000 0 0 0 606,250 538,530 725,000 8,579,237 1,296,775 2,715,000 0 0 0 0 0 0 0 0 0 5,936,538 7,036,474 7,567,293 0 0 0 0 0 0 40,959 331,266 45,000 0 0 0 0 0 0 5,977 497 7,367,740 7,612,293 $ 610,186 $ 540,405 $ 728,875 $ 14,487,844 $ 1,400,175 $ 3,042,400 $ 5,977,497 $ 7,367,740 $ 7,612,293 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 123,316 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 123,316 0 0 0 0 0 0 0 0 0 0 0 0 0 0 283,084 657,575 1,467,000 7,551,617 9,896,070 4,203,805 0 0 0 283,084 657,575 1,467,000 7,551,617 9,896,070 4,203,805 0 0 0 0 0 0 36,398 200,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 36,398 200,000 0 0 0 0 0 0 0 0 0 0 5,763,616 6,968,063 7,803,324 0 0 0 0 0 0 40,959 331,266 45,000 0 0 0 0 0 0 5,804,575 7,299,329 7,848,324 $ 283,084 $ 657,575 $ 1,467,000 $ 7,711,332 $ 10,096,070 $ 4,203,805 $ 5,804,575 $ 7,299,329 $ 7,848,324 $ 327,102 $ (117,170) $ (738,125) $ 6,776,512 $ (8,695,895) $ (1,161,405) $ 172,922 $ 68,411 $ (236,031) $ 973,244 $ 1,300,346 $ 1,183,176 $ 3,580,803 $ 10,357,315 $ 1,661,420 $ 884,180 $ 1,057,102 $ 1,125,513 $ 1,300,346 $ 1,183,176 $ 445,051 $ 10,357,315 $ 1,661,420 $ 500,015 $ 1,057,102 $ 1,125,513 $ 889,482 72 GRAND TOTAL FY 12/13 FY 13/14 FY 14/15 Estimated Proposed Adopted 4,375,397 4,500,000 4,635,000 1,366,542. 1,330,346 1,376,063 39,727 50,000 50,500 734,935 787,508 795,383 969,735 1,008,500 1,460,500 695,167 645,000 670,000 29,177 32,915 27,490 321,568 485,813 270,748 0 0 0 3,160,859 2,822,960 3,278,520 5,908,550 82,500 760,000 709,578 770,000 777,000 18, 311,233 12,515,542 14,101,204 2,654,929 3,379,774 4,797,277 10,823,210 466,775 1,125,000 13,478,140 3,846,549 5,922,277 5,936,538 7,036,474 7,567,293 40,959 331,2.66 45,000 5,977,497 7.367,740 7,612,293 $ 37,766,869 $ 23,729,831 $ 27,635,774 2,067,557 2,339,745 2,862,360 (529,037) (607,660) (809,308) 529,037 607,660 809,308 274,528 325,884 456,028 171,800 209,783 226,713 174,016 193,291 283,131 2,687,902 3,068,704 3,828,232 198,760 246,926 225,796 2,516,521 3,001,498 3,352,971 32,924 35,310 36,404 203,212 299,827 314,675 532,803 468,782 468,812 296,565 205,758 205,758 4,493,957 2,343,746 2,557,984 965,192 1,134,600 1,280,600 9,239,934 7,736,447 8,443,000 50,770 46,700 36,280 8,046,108 12,039,809 5,959,305 8,096,878 12,086,509 5,995,585 2,654,929 3,379,774 4,797,277 0 0 0 2,654,929 3,379,774 4,797,277 5,763,616 6,968,063 7,803,324 40,959 331266 45,000 5,804,575 7,299,329 7,848,324 $ 28,484,218 $ 33,570,763 $ 30,912,419 $ 9,282,652 $ (9,840,932) $ (3,276,645) $ 16,134,669 $ 25,417,321 $ 15,576,389 $ 25,417,321 $ 15,576,389 $ 12,299,744 4% CURRENT YEAR ANALYSIS 0% 3% 9% oftotal CF OF of total REVENUES, EXPENDITURES, FUND BALANCE LS VA oftotal ALL SOURCES OTHER USES FISCAL YEAR 2014/2015 expenses General Special Revenue Funds expenses Debt Payroll Salaries 2,862,360 Special Revenue Enterprise Funds Enterprise Fund - - Payroll Transfers (809,308) Funds Service - Funds 457,110 29% - 352,198 352,198 Insurance 456,028 8% - - REVENUES AND oftotal - - Taxes 226,713 - - oftotal - - - OTHER SOURCES revenue - Retirement 283,131 revenue - General Sales Tax 3,376,250 1,158,750 100,000 $3,018,925 1,258,750 - $0 $457,110 $457,110 Property Tax 1,209,094 - - $352,198 - 166,969 - - - Beverage Tax 50,500 - - - - - - - - - Franchise Fees 795,383 209,224 209,224 2,000 6,225 563,264 569,489 Insurance Permits/Fees 1,458,500 - - - - - - - - - Fines/Forfeits 670,000 - 159,060 - - - - - - Interest 8,670 500 45 2,900 3,445 100 6,000 6,100 Misc Income 60,094 - - 18,650 18,650 Interfund Advance - 192,004 192,004 Charge for Services - - - - - - - 5,960 3,272,560 3,278,520 Contributions - 440,000 - 440,000 2,292,658 - - - Hotel Tax - - 70,000 - 707,000 777,000 - - - - Total Revenues $7,628,491 $1,159,250 $610,000 $45 $728,550 $2,497,845 $166,969 $6,060 $3,470,564 $3,476,624 Transfers In 306,965 - 35,758 - - 35,758 2,139,554 - - - Other Sources - - - - - - - - - Total Other Sources $306,965 $0 $35,758 $0 $0 $35,758 $2,139,554 $0 $0 $0 WA Revenues - - - - - - - - - - WA Others Sources Capital Projects - - - - - - - - Westlake Academy $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 4% 2% 0% 3% 9% oftotal CF OF of total 4B ED LS VA oftotal revenue 0% 13% 13 r� 3% 9% oftotal CF OF of total 4B revenue TOTAL REVENUES AND $ 7,935,456 $ 1,159,250 $ 645,758 $ 45 $ 728,550 $ 2,533,603 $ 2,306,523 $ 6,060 $ 3,470,564 $ 3,476,624 OTHER SOURCES 4% 28% 12% 3% 9% oftotal CF 7% of total 4B EXPENDITURES AND oftotal VA oftotal expenses OTHER USES expenses expenses Payroll Salaries 2,862,360 - - - - Payroll Transfers (809,308) - - - 457,110 457,110 - - 352,198 352,198 Insurance 456,028 - - - - Taxes 226,713 - - - - - - - - - Retirement 283,131 - - - - TotalPayroll& Related $3,018,925 $0 $0 $0 $457,110 $457,110 $0 $0 $352,198 $352,198 Supplies 213,041 - - - 4,155 4,155 - 500 8,100 8,600 Services 2,572,259 - - - 209,224 209,224 2,000 6,225 563,264 569,489 Insurance 31,614 - - - - 4,790 4,790 Maintenance 159,060 - - - - - - 7,215 148,400 155,615 Rent & Utilities 299,842 36,435 36,435 - 132,535 132,535 Interfund Advance - - 205,758 - - 205,758 - - - - Debt 18,339 - - 2,292,658 246,987 246,987 Water Purchases - - - - - - - - 1,280,600 1,280,600 Total Expenditures $3,294,154 $0 $205,758 $0 $249,814 $455,572 $2,294,658 $13,940 $2,384,676 $2,398,616 TOTAL OPERATING $6,313,079 $0 $205,758 $0 $706,924 $912,682 $2,294,658 $13,940 $2,736,874 $2,750,814 EXPENDITURES Capital Outlay 16,280 - - - - - - 20,000 20,000 Capital Projects - - - - - - - - 288,500 288,500 Total Capital $16,280 $0 $0 $0 $0 $0 $0 $0 $308,500 $308,500 Transfers Out 2,276,612 1,159,250 440,000 - 177,670 1,776,920 - - 743,745 743,745 Other Uses - - - - - - - Totai Other Uses $2,276,612 $1,159,250 $440,000 $0 $177,670 $1,776,920 $0 $0 $743,745 $743,745 WA Expenses - - - - - - - - - - WA Others Uses - - - - - - - - - - Westlake Academy $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL OTHER USES $2,292,892 $1,159,250 $440,000 $0 $177,670 $1,776,920 $0 $0 $1,052,245 $1,052,245 TOTAL EXPENDITURES $ 8,605,971 $ 1,159,250 $ 645,758 $ - $ 884,594 $ 2,689,602 $ 2,294,658 IS 13,940 $ 3,789,119 $ 3,803,059 AND OTHER USES EXCESS REVENUES OVER $ (670,515) $ - $ - $ 45 $(156,044) $ (155,999) (7,880) $ (318,555) (UNDER) EXPENDITURES BEGINNING FUND BALANCE ............... $5,896,631 $0 $0 $13,644 $1,056,040 $1,069,684 -$11,865 $147,241 $4,354,526 $4,501,767 ENDING FUND BALANCE ............... $5,226,116 $0 $0 $13,689 $899,996 $913,685 $0 $139,361 $4,035,971 $4,175,332 4% 12% 12% 3% 9% oftotal CF OF of total 4B ED LS VA expenses 73 0% 12% 12% oftotal CF OF expenses General Sales Tax - - - - - - - 4,635,000 Property Tax 1,376,063 Beverage Tax - - - - - - - 50,500 Franchise Fees - - 795,383 Permits/Fees 2,000 2,000 1,460,500 Fines/Forfeits - - - - 670,000 Interest 125 1,750 1,875 7,400 - 7,400 - 27,490 Misc Income - - - - - 270,748 Charge for Services - - 3,278,520 Contributions 320,000 320,000 760,000 Hotel Tax - - - - - - - 777,000 Total Revenues $125 $3,750 $3,875 $327,400 $0 $327,400 $0 $14,101,204 Transfers In 450,000 275,000 725,000 1,150,000 440,000 1,590,000 - 4,797,277 Other Sources - - - 1,125,000 - 1,125,000 - 1,125,000 Total Other Sources $450,000 $275,000 $725,000 $2,275,000 $440,000 $2,715,000 $0 $5,922,277 WA Revenues - - - - 7,567,293 7,567,293 WA Others Sources - - - - - 45,000 45,000 Westlake Academy $0 $0 $0 $0 $0 $0 $7,612,293 $7,612,293 TOTAL REVENUES AND $ 450,125 $ 278,750 $ 728,875 F$2,602,400] $ 440,000 $ 3,042,400 $ 7,612,293 $ 27,635,774 OTHER SOURCES 4% 5% i 3% 14% 25% FY 14/15 EXPENDITURES AND oftotal oftotal oftotal OTHER USES UM GM CP EXP Adopted expenses expenses expenses Payroll Salaries - - - - - - - 2,862,360 Payroll Transfers (0) Insurance 456,028 Taxes - - - - - - - 226,713 Retirement - - - - - - 283,131 Total Payroll& Related $0 $0 $0 $0 $0 $0 $0 $3,828,232 Supplies - - - - - - - 225,796 Services 3,352,971 Insurance 36,404 Maintenance - - - - - - - 314,675 Rent & Utilities 468,812 Interfund Advance - - - - - - - 205,758 Debt 2,557,984 Water Purchases - - - - - - - 1,280,600 Total Expenditures $0 $0 $0 $0 $0 $0 $0 $8,443,000 TOTAL OPERATING $0 $0 $0 $0 $0 $0 $0 $12,271,233 EXPENDITURES Capital Outlay - - - - - - - 36,280 Capital Projects 203,000 1,264,000 1,467,000 3,301,000 902,805 4,203,805 - 5,959,305 Total Capital $203,000 $1,264,000 $1,467,000 $3,301,000 $902;805 $4,203,805 $0 $5,995,585 Transfers Out - - - - - - - 4,797,277 Other Uses - - - - - - Total Other Uses $0 $0 $0 $0 $0 $0 $0 $4,797,277 WA Expenses - - - - - - 7,803,324 7,803,324 WA Others Uses - - - - 45,000 45,000 Westlake Academy $0 $0 $0 $0 $0 $0 $7,848,324 $7,848,324 TOTAL OTHER USES $203,000 $1,264,000 $1,467,000 $3,301,000 $902,805 $4,203,805 $7,848,324 $18,641,186 TOTAL EXPENDITURES $ 203,000 $ 1,264,000 $ 1,467,000 F$3,301,000 $ 902,805 $ 4,203,805 $ 7,848,324 $ 30,912,419 AND OTHER USES EXCESS REVENUES OVER $ 247,125 $ (985,250) $ (738,125) $ (698,600) $ (462,805) $ (1,161,405) (UNDER) EXPENDITURES BEGINNING FUND BALANCE ............... $28,423 $1,154,753 $1,183,176 $758,616 $902,805 $1,661,420 $1,060,425 $15,361,238 ENDING FUND BALANCE ............... $275,548 $169,503 $445,051 $60,016 $440,000 $500,015 $824,394 $12,084,593 74 Internal Capital Internal Service Funds Service Capital Project Funds Project Westlake Academy Funds Funds 2% 1% 3% 9% 2ND 11% 28% FY 14/15 REVENUES AND oftotal oftotal oftotal OTHER SOURCES UM GM revenue CP EXP revenue revenue Adopted General Sales Tax - - - - - - - 4,635,000 Property Tax 1,376,063 Beverage Tax - - - - - - - 50,500 Franchise Fees - - 795,383 Permits/Fees 2,000 2,000 1,460,500 Fines/Forfeits - - - - 670,000 Interest 125 1,750 1,875 7,400 - 7,400 - 27,490 Misc Income - - - - - 270,748 Charge for Services - - 3,278,520 Contributions 320,000 320,000 760,000 Hotel Tax - - - - - - - 777,000 Total Revenues $125 $3,750 $3,875 $327,400 $0 $327,400 $0 $14,101,204 Transfers In 450,000 275,000 725,000 1,150,000 440,000 1,590,000 - 4,797,277 Other Sources - - - 1,125,000 - 1,125,000 - 1,125,000 Total Other Sources $450,000 $275,000 $725,000 $2,275,000 $440,000 $2,715,000 $0 $5,922,277 WA Revenues - - - - 7,567,293 7,567,293 WA Others Sources - - - - - 45,000 45,000 Westlake Academy $0 $0 $0 $0 $0 $0 $7,612,293 $7,612,293 TOTAL REVENUES AND $ 450,125 $ 278,750 $ 728,875 F$2,602,400] $ 440,000 $ 3,042,400 $ 7,612,293 $ 27,635,774 OTHER SOURCES 4% 5% i 3% 14% 25% FY 14/15 EXPENDITURES AND oftotal oftotal oftotal OTHER USES UM GM CP EXP Adopted expenses expenses expenses Payroll Salaries - - - - - - - 2,862,360 Payroll Transfers (0) Insurance 456,028 Taxes - - - - - - - 226,713 Retirement - - - - - - 283,131 Total Payroll& Related $0 $0 $0 $0 $0 $0 $0 $3,828,232 Supplies - - - - - - - 225,796 Services 3,352,971 Insurance 36,404 Maintenance - - - - - - - 314,675 Rent & Utilities 468,812 Interfund Advance - - - - - - - 205,758 Debt 2,557,984 Water Purchases - - - - - - - 1,280,600 Total Expenditures $0 $0 $0 $0 $0 $0 $0 $8,443,000 TOTAL OPERATING $0 $0 $0 $0 $0 $0 $0 $12,271,233 EXPENDITURES Capital Outlay - - - - - - - 36,280 Capital Projects 203,000 1,264,000 1,467,000 3,301,000 902,805 4,203,805 - 5,959,305 Total Capital $203,000 $1,264,000 $1,467,000 $3,301,000 $902;805 $4,203,805 $0 $5,995,585 Transfers Out - - - - - - - 4,797,277 Other Uses - - - - - - Total Other Uses $0 $0 $0 $0 $0 $0 $0 $4,797,277 WA Expenses - - - - - - 7,803,324 7,803,324 WA Others Uses - - - - 45,000 45,000 Westlake Academy $0 $0 $0 $0 $0 $0 $7,848,324 $7,848,324 TOTAL OTHER USES $203,000 $1,264,000 $1,467,000 $3,301,000 $902,805 $4,203,805 $7,848,324 $18,641,186 TOTAL EXPENDITURES $ 203,000 $ 1,264,000 $ 1,467,000 F$3,301,000 $ 902,805 $ 4,203,805 $ 7,848,324 $ 30,912,419 AND OTHER USES EXCESS REVENUES OVER $ 247,125 $ (985,250) $ (738,125) $ (698,600) $ (462,805) $ (1,161,405) (UNDER) EXPENDITURES BEGINNING FUND BALANCE ............... $28,423 $1,154,753 $1,183,176 $758,616 $902,805 $1,661,420 $1,060,425 $15,361,238 ENDING FUND BALANCE ............... $275,548 $169,503 $445,051 $60,016 $440,000 $500,015 $824,394 $12,084,593 74 ALL FUNDS OVERVIEW FUND BALANCE COMPARISON FUND BALANCE- the term fund balance is used to describe the arithmetic difference between the assets and liabilities reported in a governmental fund (e.g., general fund). The categories that have been used until now to present fund balance have focused on whether resources were available for appropriation (i.e., budgeting). GASB Statement No. 54 shifted the focus of fund balance reporting from the availability of fund resources for budgeting to "the extent to which the government is bound to honor constraints on the specific purposes for which amounts in the fund can be spent." • Non -spendable- inherently non -spendable • Restricted - externally enforceable limitations on use • Committed - self-imposed limitations set in place prior to the end of the period • Assigned - limitation resulting from intended use • Unassigned - residual net resources CURRENT YEAR FY 13/14 ESTIMATED vs. NEXT YEAR FY 14/15 ADOPTED The September 30, 2015 adopted ending fund balance totals $15,576,389, a 39% decrease of $9,840,932 from the September 30, 2014 estimate of $25,417,321. Fund Name FY 13/14 Estimated 5,896,631 1,069,684 -11,865 FY 14/15Change Adopted 5,226,116 Change Amount Percent -670,515 -11% General Fund Special Revenue Funds 913,685 -155,999 -15% Debt Service Fund -0- 11,865 0% Enterprise Funds 4,651,829 4,175,332 -326,435 -7% Internal Service Funds 1,183,176 445,051 -738,125 -62% Capital Project Funds 1,661,420 500,015 -1,161,405 -70% Westlake Academy I 1,125,513 824,395 -236,031 -$3,276,645 -22% -217. TOTAL $15,576,389 $12,084,594 The primary sources of this change are noted below: • Capital Project Funds - the 2015 ending fund balance is projected to be $1.161M less than the 2014 estimated ending fund balance. Available fund balance will decrease due to $1.125M of expenses related to the acquisition of land and foundation upgrades for the construction of the new Fire Station complex. Internal Service Funds - the 2015 ending fund balance is projected to be $738K less than the 2014 estimated ending fund balance. Available fund balance will decrease $700K for expenses related to the purchase of an Engine/Pumper and a building addition of $30K to the fire station to house it. • General Fund - the 2015 ending fund balance is projected to be $670K less than the 2014 estimated ending fund balance. Available fund balance will decrease $557K due to increased Payroll and Related expenses as well as $378K in service related expenses. 75 ALL FUNDS OVERVIEW REVENUES AND OTHER FINANCING SOURCES FY 14/15 adopted revenues (all funding sources) are budgeted at $27,635,774; A 16% increase of $3,905,943 from the FY 13/14 estimate of $23,729,831. Fund Name General Fund FY 13/14 Estimated 7,070,981 FY 14/15 Adopted 7,935,456 /O of Total 290 Change Amount 864,475 Change Percent 12% Special Revenue Funds 2,052,853 2,533,603 9% 480,750 23% Debt Service Funds 2,065,488 2,306,523 8% 241,035 12% Enterprise Funds 3,232,189 3,476,624 13% 244,435 8% Internal Service Funds Capital Project Funds Academic Funds TOTAL ALL FUNDS 540,405 1,400,1753,042,4 7,367,740 $ 23,729,831 728,875 00 7,612,293 $ 27,635,774 3% 188,470 35% 11% 1,642,225 244,553 $ 3,905,943 117% 3% 167o 28% 1007. The primary sources of this change are noted below: 1. Capital Project Funds - increase of $1.642M; o Capital Project Fund 410 - Contributions relating to the FM 1938 Streetscape Improvements totaling $320K; Anticipate bond proceeds of approximately $1.125M for the acquisition of land for the Fire Station complex; Transfers in from General Fund of $1,150,000 for various capital projects. o Westlake Academy Expansion Fund 412 - project will be completed in FY 14/15. Bond Proceeds of $466K were received in prior year as well of transfers in of $390K that were not budgeted in FY2015. 2. General Fund - increase of $864K; o Additional permit and fee revenue of $450K was budgeted for construction development related to the new Granada residential subdivision and Entrada commercial development on Hwy 114. o Utility Fund loan repayment of $256K for construction of Ground Storage Tank in Fyl3/14. This is the first of two total payments. 3. Special Revenue Funds - increase of $480K; o Contribution from Maguire Partners -Solana LP of $440K for the expected final platting of 44 lots (Phase 1) of Granada residential subdivision. 76 Largest Revenue Fund Types include: • General Fund 29% 0 43% General Sales Tax $3.376M 0 18% Permits and Fees $1.458M 0 15% Property Tax $1.209M • Westlake Academy 28% 0 72% State Funding $5.034M 0 27% Local Funding $1.922M • Enterprise Funds 13% 0 94% Charge for Services $3.272M 0 6% Misc. Income $ 192K • Capital Projects Funds 11% 0 1 I% Contributions $ 320K 0 37% Other Sources $1.125M 0 38% Transfer In $1.150M ALL FUNDS OVERVIEW Largest Revenue Funds EXPENDITURES AND OTHER OPERATING USES FY 14/15 adopted expenditures (all funding uses) are budgeted at $30,912,419; an 8% decrease of $2,658,344 from FY 13/14 estimated expenditures FY 13/14 Fund Name Estimated FY 14/1570 of Adopted total 8,605,971 28% Change Amount Change Percent General Fund 6,986,933 1,619,039 23% Special Revenue Funds 2,023,407 2,689,602 9% 666,195 33% Debt Service Funds 2,078,834 2,294,658 7% 215,824 10% Enterprise Funds 4,428,615 3,803,059 12% (625,556) -14% Internal Service Funds 657,575 1,467,000 5% 809,425 123% Capital Project Funds 10,096,070 4,203,805 14% (5,892,265) -58% Westlake Academy 7,299,329 7,848,324 25% 548,995 8% TOTAL ALL FUNDS � 33,57U,763 } 3U,Y12,41Y IUU% � (2,658,344) -S% 1. General Fund - increased $1.619M; o Transfers Out increase of $688,088: ■ Increased Transfers out to Debt Service Fund $168,088 ■ Decreased Transfer out to WA Expansion Fund ($630,000) ■ Increased Transfer out to Capital Projects Fund $1,150,000 77 ALL FUNDS OVERVIEW o Operating Expenditures increase of $388K • Keller Police contract increase of $42K ■ Salary study contract services $50K ■ Records management laserfiche needs $29K ■ Engineering and Street drainage costs $19K ■ Election and codification costs for town secretary's office $14K ■ Capital projects operational impact for services and supplies $67K ■ Fixed Asset software upgrade $6K • Westlake Academy expenditure of $300k for future Westlake resident enrollment capacity. o Payroll/Salaries and Related Taxes/Insurance increase of $557K ■ All payroll and related expenditures for the Town are paid via the General Fund. Portions of these expenditures are subsidized by the Utility Fund and the Visitors Association Fund. Total operating transfers in from the Utility Fund are $353K and the Visitors Association Fund totals $457K ■ $71 K to maintain our current staff levels • $65K for 3% market pay adjustments for work force attraction ■ $54K in performance based incentive pay ■ $8K for cell phone reimbursement (directors and on-call technicians). • $36K - transition of part-time Communication Specialist to full-time ■ $78K - addition of one full-time Firefighter/Paramedic ■ $20K - additional part-time Deputy Court Clerk ■ $68K - transfer Accounting Technician from Academic to Municipal budget ■ $121 K - transfer IT Director from Academic to Municipal budget ■ Insurance, taxes and retirement costs will increase by $237K for FY 2014- 15 in conjunction with the changes noted above. 2. Special Revenue Funds - increased $666K; o Economic Development fund 210 - transfers out to Westlake Academy of $440K for contributions received from Maguire Partners -Solana LP for the expected final platting of 44 lots (Phase 1) of Granada residential subdivision. o Visitor Association Fund $192K - Transfers Out to Debt Service increased by $12,750. Payroll transfers out to the General Fund increased $171,000 due to the 3% increase for personnel as well as transitioning a part-time Communication Specialist to full time with 100% of the salary being paid from the Visitors Association. 3. Enterprise Funds - decreased $625K; o Utility Fund expenses decreased due to the completion of a ground storage tank project in FY 13/14 that will not be budgeted in FY2015. IV ALL FUNDS OVERVIEW 4. Internal Service Funds - increased $809K; o General Maintenance fund in FY 14/15 will incur costs for the replacement of fire engine pumper truck totaling $700K as well as a Fire dept building addition of $30K. 5. Capital Project Funds - decrease of $5.892M; o Westlake Academy Expansion Fund 412 - in FYI 3/14 this fund had project expenses of approximately $6M related to the construction of the three new buildings at the Westlake Academy campus. This project will be completed in FY2015 with a budget cost of $902K. Largest expenditures fund types include: • General Fund 28% 0 33% Payroll Wages $2.862M 0 30% Services $2.572M Largest Expenditure Funds 0 26% Transfer Out $2.276M • Westlake Academy 25% 0 72% Payroll & Related $5.618M 0 14% Contracted Services $1.064M Capital Project Funds 14% 0 21% Academy Expansion $ 902K 0 32% Facility Improvements $1.25M 0 47% Road Improvements $1.85M Enterprise Funds 120 0 34% Water Purchases $1.280M 0 20% Transfers Out $ 743K 0 15% Services $ 563K 79 AD VALOREM PROPERTY TAX FIVE YEAR ANALYSIS Fiscal Year 2014/2015 APPRAISED AND TAXABLE VALUES TAX RATE DISTRIBUTION General Fund (nnao) 0.15620 0.13835 0.14197 Debt Service Fund (ias) 0.00390 0.01849 0.01487 TOTAL 0.16010 0.15684 0.15684 Percentage Distribution General Fund (nnao) Debt Service Fund (iss) TOTAL amount change percent change 97.56% 2.44% 100.00% -0.0033 -2.04% 88.21% 11.79% 100.00% 80 0.0000 0.00% 90.52% 9.48% 0.13907 0.01777 0.15684 0.0000 0.00% 88.67% 11.33% 0.13710 0.01924 0.15634 -0.0005 -0.32% 87.69% 12.31% 100.007o 100.007. 100.00% FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Actual Actual Actual Estimated Adopted Total Appraised Value $ 1,025,535,296 $ 1,090,892,532 $ 1,209,948,755 $ 1,227,898,917 $ 1,258,429,958 amount change 65,357,236 119,056,223 17,950,162 30,531,041 percent change 6.37% 10.91% 1.48% 2.49% Net Taxable Value $ 880,169,946 $ 913,119,313 $ 864,452,946 $ 853,297,597 $ 880,173,223 amount change 32,949,367 (48,666,367) (11,155,349) 26,875,626 percent change 3.74% -5.33% -1.29% 3.15% Total Tax Revenue $ 1,409,152 $ 1,432,136 $ 1,355,808 $ 1,338,312 $ 1,376,063 amount change 22,984 (76,328) (17,496) 37,751 percent change 1.63% -5.33% -1.29% 2.82% FY 10/11 Actual $1,4000 $1 258 $1,200 $1 091 ■ FY 11/12 Actual $1,000 N $880 $913 $864 853 $880 C 0 —_ $800 w FY 12/13 Actual $600 $400 ■ FY 13/14 Estimated $200 ■ FY 14/15 Adopted $0 Total Appraised Value Net Taxable Value TAX RATE DISTRIBUTION General Fund (nnao) 0.15620 0.13835 0.14197 Debt Service Fund (ias) 0.00390 0.01849 0.01487 TOTAL 0.16010 0.15684 0.15684 Percentage Distribution General Fund (nnao) Debt Service Fund (iss) TOTAL amount change percent change 97.56% 2.44% 100.00% -0.0033 -2.04% 88.21% 11.79% 100.00% 80 0.0000 0.00% 90.52% 9.48% 0.13907 0.01777 0.15684 0.0000 0.00% 88.67% 11.33% 0.13710 0.01924 0.15634 -0.0005 -0.32% 87.69% 12.31% 100.007o 100.007. 100.00% This page is intentionally blank H GENERAL FUND .4 %litilTY llj?vAvlr'j* ADOPTED 0 09-22-2014 - Vx- A L w iS ION � g MISSION STRATEGY UE TOWN OF WWESTLA4KE * 3VILLAGE CIRCLE #202 * WEST'LA6KE,TEXAS 7626 * YkIWW.WESTLA6KE-T .ORG General Fund Program Summary Fiscal Year 2014/2015 REVENUES L OTHER SOURCES General Sales Tax On-going General Sales Tax One-time Property Tax Donations Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Other Sources Total Other Sources TOTAL REVENUES L OTHER SOURCES EXPENDITURES L OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Total Payroll and Related Services Insurance Repair & Maintenance Rent & Utilities Debt Total Operating Expenditures Capital Outlay Capital Transfers Out - Operating (DS/ED/GMR) Transfers Out - Non Operating (CP/UF/WAE) Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 2,683,971 377,976 1,236,978 39,727 734,935 967,735 695,167 7,491 11,094 78,014 6,833,087 59,826 59,826 6,892,914 1,536,422 274,528 171,800 174,016 2,156,767 168,558 1,486,875 28,144 105,268 397,680 2,186,524 30,039 30,039 4,373,329 590,392 500,000 1,090,392 5,463,721 3,176,250 200,000 1,209,094 50,500 795,383 1,458,500 670,000 8,670 60,094 7,628,491 306,965 306,965 7,935,456 2,053,052 456,028 226,713 283,131 3,018,925 213,041 2,572,259 31,614 159,060 299,842 18,339 3,294,154 16,280 16,280 6,329,359 1,126,612 1,150,000 2,276,612 8,605,971 5,412,143 2,800,000 2,925,000 350,000 350,000 1,189,825 1,189,825 193,291 193,291 50,000 50,000 650,388 787,508 786,000 1,008,500 570,000 645,000 8,670 8,670 299,812 299,812 51,759 55,959 6,456,641 7,020,461 50,520 50,520 0% - 50,520 50,520 6,507,161 7,070,981 3,176,250 200,000 1,209,094 50,500 795,383 1,458,500 670,000 8,670 60,094 7,628,491 306,965 306,965 7,935,456 2,053,052 456,028 226,713 283,131 3,018,925 213,041 2,572,259 31,614 159,060 299,842 18,339 3,294,154 16,280 16,280 6,329,359 1,126,612 1,150,000 2,276,612 8,605,971 5,412,143 1,732,085 1,732,085 325,884 325,884 209,783 209,783 193,291 193,291 2,461,043 2,461,043 231,571 235,921 2,013,162 2,194,112 30,520 30,520 123,262 126,962 299,812 299,812 7% 18,339 2,698,326 2,905,665 31,700 31,700 0% - 31,700 31,700 5,191,069 5,398,408 1,216,531 958,524 500,000 630,000 1,716,531 1,588,524 6,907,600 6,986,933 3,176,250 200,000 1,209,094 50,500 795,383 1,458,500 670,000 8,670 60,094 7,628,491 306,965 306,965 7,935,456 2,053,052 456,028 226,713 283,131 3,018,925 213,041 2,572,259 31,614 159,060 299,842 18,339 3,294,154 16,280 16,280 6,329,359 1,126,612 1,150,000 2,276,612 8,605,971 EXCESS REVENUES OVER(UNDER) EXPENDITURES 1,429,193 I (400,439) 84,048 (670,515) 898% (754,564) FUND BALANCE, BEGINNING 4,383,390 FUND BALANCE, ENDING 5,812,583 Restricted/Assigned/Committed Funds 269,363 UNASSIGNED FUND BALANCE, ENDING 5,543,220 # Days Operating (without non-operating transfers) 408 Daily Operating Expense $ 13,599 Restricted/Assigned/Committed Funds 5,412,143 3% 251,250 0% (150,000) 2% 19,269 0% - 1% 500 1% 7,875 45% 450,000 4% 25,000 0% - 0% - 7% 4,135 9% 608,030 508% 256,445 0% - 1711% 864,475 12 864,475 EXCESS REVENUES OVER(UNDER) EXPENDITURES 1,429,193 I (400,439) 84,048 (670,515) 898% (754,564) FUND BALANCE, BEGINNING 4,383,390 FUND BALANCE, ENDING 5,812,583 Restricted/Assigned/Committed Funds 269,363 UNASSIGNED FUND BALANCE, ENDING 5,543,220 # Days Operating (without non-operating transfers) 408 Daily Operating Expense $ 13,599 Restricted/Assigned/Committed Funds 5,412,143 19% 320,968 40% 130,144 8% 16,931 46% 89,840 237. 557,882 -10% (22,880) 17% 378,147 4% 1,094 25% 32,098 0% 30 100% - 13% 388,489 -49% (15,420) 0% -49% (15,420) 17.3% 930,951 18% 168,088 83% 520,000 43% 688,088 23% 1,619,039 EXCESS REVENUES OVER(UNDER) EXPENDITURES 1,429,193 I (400,439) 84,048 (670,515) 898% (754,564) FUND BALANCE, BEGINNING 4,383,390 FUND BALANCE, ENDING 5,812,583 Restricted/Assigned/Committed Funds 269,363 UNASSIGNED FUND BALANCE, ENDING 5,543,220 # Days Operating (without non-operating transfers) 408 Daily Operating Expense $ 13,599 Restricted/Assigned/Committed Funds 5,412,143 5,896,631 C Court Technology 100 10112 00 000 C Court Security 100 10113 00 000 C Court Efficiency 100 10116 00 000 R Reforestation 100 10110 00 101 R Street Escrow (TB/RA) 100 10110 00 102 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 78,244 109,191 6,987 45,794 29,147 5,812,583 5,812,583 5,412,143 5,896,631 197,800 265,172 5,214,343 5,631,459 297 323 $ 17,555 $ 17,416 83 5,896,631 5,226,116 274,408 4,951,707 242 $ 20,427 82,295 104,326 7,346 51,294 29,147 274,408 1% 84,048 -11% 66,000 78,377 89,000 99,358 2,800 6,996 16,000 51,294 24,000 29,147 83 5,896,631 5,226,116 274,408 4,951,707 242 $ 20,427 82,295 104,326 7,346 51,294 29,147 274,408 1% 84,048 -11% (670,515) 3% 9,237 -12% (679,752) -25% (81) 5% 3,919 5% 4,968 5% 350 0% - 0% 3% GENERAL FUND Revenues and Transfers In FUND OVERVIEW Total General Fund revenues and transfers in for FY 2014-15 are budgeted to be $7,935,456 A 12% increase of $864,475 from the FY 13/14 estimated revenues and transfers in of $7,070,981 The primary sources of this change are noted below: • General Sales Tax $101,250 • Property Tax $19,269 • Beverage tax $500 • Franchise Fees $7,875 • Permits and Fees $450,000 • Fines and forfeitures $25,000 • Misc Income $4,135 FY 14/15 • Transfers In $256,445 Adopted Revenues General Sales Tax • Sales tax receipts comprise 43% of FY 2014-15 General Fund revenues. • Sales taxes for the General Fund are budgeted to increase by $101,250. o On-going sales tax is anticipated to increase by $416,250 based on current year trend and analysis. o Presumed one-time amounts are projected to decrease by $150,000 (as an effort to be conservative with this type of projection). • Sales taxes are collected on the sale of goods and services within the Town as authorized by the State of Texas. • The maximum sales tax allowed in the State of Texas is 8.25% per dollar on all taxable goods and services. Funds are collected by the Texas Comptroller of Public Accounts and remitted to the Town on a monthly basis. • An amount equal to 1.50% of the taxable sales (75% of local collections) is appropriated to the Town's General Fund. This total includes the .50% that is received for "Property Tax Reduction". • The Town also receives an additional .50% sales tax that is recorded in the 4B Economic Development Corporation Fund. General Sales Tax FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 estimated FY 14/15 adopted ■ Base Sales Tax Economic Development Agreement 0 Audit Payment ■ Presumed One -Time Payment FUND OVERVIEW Beverage Tax • The Town collects a 14% gross receipt tax on mixed beverages. • Of this percentage, 10.7% of gross liquor receipts are remitted to the Town, and the remaining 3.3% is retained by the State of Texas. • A $500 increase is budgeted for FY 14/15. Property Tax • Property tax receipts comprise 15% of General Fund revenues. • FY 2010-11 was the first year the Town of Westlake imposed an ad valorem property tax. • The total tax rate of $.15634 is.0005 less than FY 13/14 Franchise Taxes • Franchise fees comprise 10% of General Fund revenues. • Franchise taxes represent revenues collected from utilities operating within the Town that use the Town rights -of -way to conduct their business. • A flat rate is charged to both telephone operators (adjusted annually) and Tri -County Electric based on the number of access lines and services rendered, respectively. • These fees are anticipated to only have a 1% increase of $7,875 for FY 2014-15. Permits and Fees • Permits and Fees comprise 18% of General Fund revenues. • Revenues for FY 14/15 are anticipated to be $1,458,500 and are based on 50 new home permits • License and permit revenues include fees charged by the Town for certain types of operator licenses, as well as permits for construction and other items regulated by Town ordinances. • Increased permits and fees are projected for residential development in Granada. 85 Municipal Court Revenue • Fines and Forfeitures comprise 8% of General Fund revenues and is anticipated to increase 4%. • The revenue generated from the Municipal Court is based on citations and warrants issued. • The Keller Police Department will continue to perform its contractual patrol of Westlake roads in FY 2014-15. FUND OVERVIEW Transfers In • Transfers In represent those funds transferred from one fund to another. These transfers may be utilized as a means to fund projects or debt service from multiple sources. Transfers In may also be used to transfer funds collected by one fund but should be properly recorded in a different fund. Adopted transfers in are: o Transfer in from the Visitor Association Fund $ 13,220 ■ This transfer in will be used to offset the operating expenditures for Department 22 Communications & Community Affairs. o Transfer In from Utility Fund of $293,745 ■ $256,245 Loan Repayment - Utility Fund loan repayment for construction of Ground Storage Tank in Fy13/14. This is the first of two total payments. ■ $37,500 Impact Fees - This is for collection of Fort Worth Impact Fees, which are collected with initial water deposits and tap fees on new water meters. These funds are collected by the Utility Fund and transferred to the General Fund as a result of an agreement with the City of Fort Worth. When the transferred total reaches $2,000,000 (remaining balance is $1.380M) these funds will be paid to the City of Fort Worth in compliance with the wholesale water customer agreement. Expenditures and Transfers Out Total General Fund expenditures and transfers out for FY 2014-15 are budgeted to be $8,605,971 A 23% increase of $1,619,039 from the FYI 3-14 estimated expenditures and transfers out of $6,986,933. As in recent years, Town staff continues to operate conservatively by controlling costs while maintaining the highest possible levels of service. These goals are only possible through continued strategic planning and the innovative use of available resources. Our overall budget philosophy focuses on meeting stated goals and objectives and maintaining a 90 operating day fund balance. FUND OVERVIEW Payroll/Salaries and Related Taxes/Insurance • Comprise 35% of expenditures with a total of $3,018,925 • This is a 23% increase of $557,882 from the FYI 3-14 estimated payroll expenditures of $2,461,043 o This includes an increase in base costs of $71,394 to maintain our current staff levels along with $65,000 in market pay adjustments (inclusive of taxes and insurance) for work force attraction and $54K in performance based pay, and a newly recommended allocation of $8K for cell phone reimbursement of various staff members (Directors and on-call personnel). o This increase also includes the following personnel changes ■ $36K - transition of part-time Communication Specialist to full-time ■ $78K - addition of one full-time Firefighter/Paramedic ■ $20K - additional part-time Deputy Court Clerk o Transition of shared services employees from Academic to Municipal budget • $68K - Accounting Technician ■ $121 K - Information Technology Director o Insurance, taxes and retirement costs will increase by $237K for FY 2014-15 in conjunction with the changes noted above. • All payroll and related expenditures for the Town are paid via the General Fund. Portions of these expenditures are subsidized by the Utility Fund and the Visitors Association Fund. o Operating transfers in from the Utility Fund are $353K o Operating transfers in from the Visitors Association Fund are $457K Operating Expenditures • Comprise 38% of expenditures with a total of $3,294,154 • This is an increase of $388,489 from the FY 13-14 estimated expenditures of $2,905,665 o The biggest portion of this increase ($378,147) is related to service expenditures. ■ Additional Westlake Academy expenditures of $108,000 which added to the prior year expenditure of $192,000 totals $300k (future Westlake resident enrollment capacity) ■ Keller Police contract - increase of $42,415 ■ Salary study for compensation plan - increase of $50,000 ■ Records management - increase related to additional Laserfiche needs totaling $29,500 ■ Engineering and Street drainage - increase of $19,500 ■ Election and codification - increase of $14,325 • Capital Project operational impact - increase of $67,158 ■ General Fixed Asset software - increase of $6,470 M FUND OVERVIEW Transfers Out • Comprise 26% of expenditures with a total of $688,088 and includes these transfers: o Increase - Transfer out to Debt Service Fund $168,088 o Decrease - Transfer out to WA Expansion Fund ($630,000) o Increase - Transfer out to Capital Projects Fund $1,150,000 Fund Balance • The audited beginning fund balance as of October 1, 2013 was $5,812,583 • FY 2013-14 Adopted Budget o Projected an excess of expenditures and other financing uses over revenues and other financing sources by $(400,439). o This would have resulted in a budgeted fund balance of $5,412,143. • FY 2013-14 Estimated Budget o Projects an excess of revenues and other financing sources over expenditures and other financing uses by $84,048. o This represents an increase in estimated over adopted fund balance of $484,488. ■ $125K in sales taxes ■ $137K franchise fees ■ $223K in building permits and inspection/plan reviews o The ending fund balance as of September 30, 2014 is estimated at $5,896,631. o The undesignated balance of $5,631,459 represents coverage for 323 operating days. • FY 2014-15 Adopted Budget o Projects an excess of expenditures and other financing uses over revenues and other financing sources by $670,515. o Results in a budgeted ending fund balance of $5,226,116 o The unassigned balance of $4,951,707 represents coverage for 242 operating days. This page is intentionally blank Fund 100 General Fund Dept. No. 10 General Services Fiscal Year 2014/2015 Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Debt Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay (20,000) 33,671 319,320 19,893 125 163,343 $ 516,3 3,150,000 3,275,000 1,189,825 1,189,825 50,000 50,000 650,388 787,508 3,710 3,710 7,200 7,200 15,050 15,050 $ 5,066,173 $ 5,328,293 18,339 35,822 723,615 22,978 173,600 97' $ 4,597,190 $ 4,563,040 1 $ 4,587,321 1 1 $ 4,482,833 11 -2% $ (104,488) a 7- - 18,339 23,622 23,622 283,957 503,457 21,884 21,884 173,670 173,670 303,133 $ 740,972 18,339 35,822 723,615 22,978 173,600 97' $ 4,597,190 $ 4,563,040 1 $ 4,587,321 1 1 $ 4,482,833 11 -2% $ (104,488) a PROGRAM BUDGET General Services Department 10 Academic Governance 1 2 3 Comprehensive Planning and Economic Develo 1 2 3 4 Financial Management 1 2 3 Mur Legislative & Authorizing Agency Affairs 12,069 Department Director Thomas Brymer 7,202 0.74% Board Governance Training and Education Department Phone 817-490-5720 $ 24,964 2.56% $ Program Activity Budget I Percent Municipal Governance 4 Strategic Plan Development and Implementation 21,029 1 Legislative Affairs 23,119 2.37% 23,929 24,096 21,029 352,121 2 Policy Development, Council Meetings and Workshops 43,678 4.48% 5,694 3 Council Governance Training and Education 42,170 4.33% 358,379 $ 108,966 11.18% Academic Governance 1 2 3 Comprehensive Planning and Economic Develo 1 2 3 4 Financial Management 1 2 3 Mur Legislative & Authorizing Agency Affairs 12,069 1.24% Policy Development, Board Meetings and Workshops 7,202 0.74% Board Governance Training and Education 5,694 0.58% $ 24,964 2.56% Development Recruiting and Assistance 25,271 2.59% Comprehensive Planning 16,744 1.72% Development Oversight and Regulation 16,744 1.72% Development Agreement Oversight 16,744 1.72% $ 75,501 7.75% Managing and Budgeting for Outcomes 10,694 1.10% Oversight of Five -Year Financial Forecast 6,709 0.69% Review and Planning for Financial Sustainability, 10,694 1.10% $ 28,096 2.88% icipal Administration Departmental Coordination and Employee Management 321,152 32.96% 1 Departmental Coordination and Employee Management 97,979 10.06% 2 Contract Management 143,029 14.68% 3 Agenda Preparation and Calendar Maintenance 21,029 2.16% 4 Strategic Plan Development and Implementation 21,029 2.16% 5 6 7 Professional Development Direction of Leadership Team Affiliate Board Liaison and Support $ 23,929 24,096 21,029 352,121 2.46% 2.47% 2.16% 36.14% Academic Administration 1 Departmental Coordination and Employee Management 321,152 32.96% 2 Financial Management and Budget Preparation 5,694 0.58% 3 Agenda Preparation and Calendar Maintenance 5,694 0.58% 4 Strategic Plan Development and Implementation 5,694 0.58% 5 Organizational Development 8,760 0.90% 6 Parent and Student Communication 5,694 0.58% 7 Affiliate Board Liaison and Support 5,694 0.58% $ 358,379 36.78% Citizen Engagement and Communication 1 Communication 5,693.5484 0.58% 2 Neighborhood Gatherings and Outreach 9,246 0.95% 3 Community Activities 5,694 0.58% 4 Direction Finders and Other Surveys 5,694 0.58% $ 26,326 2.70% $ 974,354 100% m GOALS AND OBJECTIVES General Services Strategic Theme & Objective(s) • Theme - Exemplary Service & Governance • Objective(s) -- Increase Financial Capacity & Reserves Program Description • The General Service Program is comprised of costs in the budget that may not be specifically identifiable to any operational budget. The activity is administered by the Finance Department and funds various charges that are not defined or directly related to any specific department or activity of the Town. • Examples of cost include, electricity, insurance, professional services, contingencies, etc. These types of expenditures affect all budgets and are generally not prorated. 92 This page is intentionally blank 93 Fund 100 General Fund Dept. No. 11 Town Manager's Office Fiscal Year 2014/2015 Employee Staffing Town Manager Assistant Town Manager Part Time Intern (1) Part Time Intern (2) Administrative Assistant General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfes In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 1.00 0.75 0.50 0.50 2.75 265,027 21,578 18,110 57,651 (93,757) 3,826 28,837 296,611 36,272 23,632 54,462 (123,293) 3,825 32,018 283,281 283,281 25,532 25,532 22,692 22,692 42,876 42,876 (102,708) (102,708) 3,825 3,825 32,118 32,118 $ 301,272 1 I $ 307,615 I $ 307,615 I 1 $ 323,527 $ (301,272) $ (307,615) $ (307,615) $ (323,527) 1 57 $ (15,911) 94 PROGRAM BUDGET Town Manager Department 11 Academic Governance 1 Department Directorl Thomas Brymer 0.95% Departmental Coordination and Employee Management $ 2 Policy Development, Board Meetings and Workshops Department Phone 817-490-5720 Contract Management 3 Board Governance Training and Education 5,939 Program Activity Budget I Percent Municipal Governance 4 $ 14,940 4.62% 1 Legislative Affairs $ 3,062 0.95% $ 3,062 2 Policy Development, Council Meetings and Workshops 5,939 1.84% Comprehensive Planning 3 Council Governance Training and Education 5,939 1.84% 3 $ 14,940 4.62% Academic Governance Financial Management Mun 1 Managing and Budgeting for Outcomes $ 19,364 5.99% 2 Oversight of Five -Year Financial Forecast 19,364 5.99% 3 Review and Planning for Financial Sustainability, 19,364 5.99% $ 58,093 17.96% icipal Administration 1 Legislative & Authorizing Agency Affairs $ 3,062 0.95% Departmental Coordination and Employee Management $ 2 Policy Development, Board Meetings and Workshops 5,939 1.84% Contract Management 3 Board Governance Training and Education 5,939 1.84% Comprehensive Planning and Economic Development 4 $ 14,940 4.62% 4.50% 1 Development Recruiting and Assistance $ 3,062 0.95% 6 7 2 Comprehensive Planning 6,639 2.05% $ 3 Development Oversight and Regulation 5,939 1.84% 4 Development Agreement Oversight 185 0.06% $ 15,825 4.89% Financial Management Mun 1 Managing and Budgeting for Outcomes $ 19,364 5.99% 2 Oversight of Five -Year Financial Forecast 19,364 5.99% 3 Review and Planning for Financial Sustainability, 19,364 5.99% $ 58,093 17.96% icipal Administration Departmental Coordination and Employee Management $ 8,816 2.72% 1 Departmental Coordination and Employee Management $ 6,689 2.07% 2 Contract Management 5,939 1.84% 3 Agenda Preparation and Calendar Maintenance 14,569 4.50% 4 Strategic Plan Development and Implementation 14,569 4.50% 5 Professional Development 34,389 10.63% 6 7 Direction of Leadership Team Affiliate Board Liaison and Support $ 6,139 5,939 88,234 1.90% 1.84% 27.27% Academic Administration 1 Departmental Coordination and Employee Management $ 8,816 2.72% 2 Financial Management and Budget Preparation 28,954 8.95% 3 Agenda Preparation and Calendar Maintenance 14,569 4.50% 4 Strategic Plan Development and Implementation 28,954 8.95% 5 Organizational Development 20,323 6.28% 6 Parent and Student Communication 11,693 3.61% 7 Affiliate Board Liaison and Support 3,062 0.95% $ 116,370 35.97% Citizen Engagement and Communication 1 Communication $ 5,939 1.84% 2 Neighborhood Gatherings and Outreach 3,062 0.95% 3 Community Activities 3,062 0.95% 4 Direction Finders and Other Surveys 3,062 0.95% $ 15,125 4.68% $ 323,527 100% 95 Town Manager Strategic Theme(s) & Objective(s) ® Themes - Natural Oasis; Exemplary Service & Governance; Exemplary Education - Westlake Academy; High Quality Planning, Design, & Development ® Objective(s) - Increase Citizen, Student, Stakeholder Satisfaction; Preserve Desirability & Quality of Life Program Description GOALS AND OBJECTIVES ® The Administration Department coordinates and manages all facets of the Town's operations. ® The Town Manager, reporting to the Town Council, serves as the chief executive officer for all Town operations including serving as Superintendent for Westlake Academy. His duties include implementation of the goals and objectives established by the Town Council, preparation and submission of an annual municipal budget for Board review and adoption, as well as the implementation and oversight of the adopted budget throughout its effective fiscal year. ® The Town Manager guides, coordinates, and facilitates recommendations to the Council on strategic planning initiatives and policies as well as their implementation. ® Responsible for attracting, retaining, and developing a municipal/educational work force for delivering top quality municipal and Academy services. Trends • Current residential growth remains comparable with the previous year's permit requests and is expected to trend higher in the coming fiscal year. ® The Town recently approved, Granada, a Centurion American residential development consisting of 84 new homes at the corner of Solana Blvd. and Davis Blvd. (FM 1938); in addition, Centurion American plans to develop an 85 acre tract on Hwy 114 as a mixed-use development site. ® Facility related Capital Improvement Projects (CIP) have been approved by the Council / Board for the coming fiscal year; with $8.5 million in expansions at the Academy campus. Final completion for the additional three buildings is targeted for the fall of 2014. In addition, the Town is investing in a second ground storage water tank to increase our capacity and provide for redundancy in the system to ensure high-quality service delivery. ® Major roadway and mobility related Capital Improvement Projects (CIP) are being finalized throughout the Town, including the streetscaping projects on our major north/south thoroughfare. ® Enrollment requests and lottery applications at Westlake Academy continue to remain at an all-time high, with over 2,000 students on the current waiting list. ® Westlake is entering the fifth year of our assessment of an ad -valorem property tax. The adopted rate is slightly lower than the FYI 3/14 rate. Town Manager Program Broad Goals GOALS AND OBJECTIVES ® Assure all growth is compliant with Westlake development standards. ® Maintain and develop a competent and competitive municipal/Academy work force. ® Analyze and report new revenue generating ventures as well as analyze and report new ways to partner with public and private sector service providers to control cost and improve services. ® Monitor the municipal and Academy budget and oversee all finances of the Town so as to apprise Town Council of the Town's financial condition and future needs in a timely manner. • Assist the Board of Trustees/Town Council with the growth and development of Westlake Academy. ® Provide support for Council appointed advisory committees and commissions. • The Town Manager's Office participates in the following specific programs of service: o Municipal governance o Academic governance o Comprehensive Planning and Economic Development o Financial Development o Municipal Administration o Academic Administration o Citizen Engagement and Communication 2013-2014 Highlights ® Development related activities carried over into this fiscal year with the additional planning discussions for the mixed- use development with the owner. ® Granada began construction of its infrastructure (internal roads, water/sewer, and external wall construction) this year and is poised to issue the first building permits in 2015. DID YOU KNOW Westlake owns and operates the only public charter school in the state of Texas. As such, we are also the only municipality in which the town manager also serves in their official capacity as the superintendent of a public school.— • Graduated our fifth class of seniors from Westlake Academy with each student being accepted into at least one 4 -year college; o projected enrollment for 2014/2015 school year is expected to be 822 students (K-12); o finalized the expansion project and opened over 35K square feet of new educational space on the campus. ® FM 1938 (Precinct Line Rd) streetscaping phase should finish this fiscal year - the construction of the trail heads, sidewalks, and shade structures are well underway and will help to tie our community together through the expansion of our trail system. All of these projects will help us reach our outcome objective of creating a Sense of Place within Westlake for our residents and stakeholders. ® Began the work of updating the Town's Comprehensive Plan, which had last been updated in 1992. A steering committee was formed comprised of stakeholders and residents in Westlake to help provide input on the plan components. They worked with our outside 97 Town Manager GOALS AND OBJECTIVES consultant and we held three (3) public meetings to allow for public input. The final elements of the plan will be presented to the Planning & Zoning Commission and the Town Council. The Town Council and staff team completed the second iteration of our Balanced Scorecard strategic planning system along with a corresponding organization -wide Tier One strategy map. Performance measures were also developed for each outcome objective to help provide our community, staff and Council with an overview of our progress. 2014-2015 Goals and Objectives ® Finalize the Town's comprehensive plan in conjunction with the consultant team. ® Continue integration of the Municipal and Academy operations into a cohesive, unified organization. ® Strengthen Academy management and internal support systems. ® Facilitate the Academy and Town's approved strategic plans along with the approved Balanced Scorecard structure and the corresponding strategy map objectives; update the academic strategic planning document and link to the Academy budget process. ® Institute the concepts conveyed through SEI and LEAD to further develop high performance teams and department directors for both the Academy and Town staff. ® Further advancement of the vision, mission, and values created by the elected officials for both municipal and academic services. Efficiency/Effectiveness Measures Objective Actual Adopted Estimated I Adopted FY 12/13 FY 13/14 FY 14/15 FY 14/15 Produce monthly update for 100% 100% 100% 1' 90� Town Council 2' 100% Complete program of services within 100% 100% 100% adopted or amended budget 3 Maintain annual 90 day balance in 215 days 182 days 323 days 243 days General Fund 98 This page is intentionally blank Fund 100 General Fund Dept. No. 12 Planning & Development Fiscal Year 2014/2015 Director ISr. Administrative Assistant Customer Service Coordinator I Customer Service Representative Revenues Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 1.00 0% - - 0% - 0.33 32% 0.080 0.33 0% - 0% - 576 0.08 General Sales Tax 123,096 123,096 - - 21,152 - 10,231 0% - Property Tax - - - - 0% - Hotel Tax - - - - 0% - Charges for Services - - - - 0% - Contributions - - - - 0% - Beverage Tax - - - - 0% - Franchise Fees - - - 0% - Permits & Fees 775,398 637,490 859,990 1,309,990 52% 450,000 Fines & Forfeitures - - - - 0% - Investment Earnings - - - 0% - Misc Income 90 - 10%1 - Total W M 1$ 775,488 $ 637,490 1 $ 859,9931 1,309,990 1 MMjj2%j450,000 Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay 111111U.- 108,782 17,757 7,911 7,599 4,024 44,833 421 371 $ 191,698 144,158 29,062 11,932 14,708 27,600 452,455 489 $ 680,4 123,096 123,096 21,152 21,152 10,231 10,231 9,048 9,048 0% - 31,100 31,100 452,455 452,455 489 489 500 500 0% - 0% - 0% - 32,333 $ 648,070 $ 648,070 144,158 29,062 11,932 14,708 27,600 452,455 489 $ 680,4 $ 583,789 1 1 $ (10,580) $ 211,920 1 $ 629,587 1 19770 417,667 17% 21,062 37% 7,910 17% 1,701 63% 5,660 0% - -11% (3,500) 0% - 0% - -100% (500) 0% - 0% - 0% - 32,333 $ 583,789 1 1 $ (10,580) $ 211,920 1 $ 629,587 1 19770 417,667 PROGRAM BUDGET Planning and Development Department 12 Department DirectorEddie Edwards Department Phone 817-430-5726 Program I Activity Budget Percent Building Inspections 1 Code Research, Interpretation, & Technical Clarification $ 13,502 1.98% 2 Code/Fee Schedule Update 13,402 1.97% 3 Permitting / Plan Review Coordination and Fee Calculation 13,627 2.00% 4 Coordinate Addressing with other Depts & Agencies 13,402 1.97% $ 53,931 7.93% Plan Gas Well Permit Administration F-1 Code Enforcement 1 Fire Prevention 1 2 3 Planning and Zo 2 2 Administration of the Gas Well Provisions Notices and Citationsl $ 14,128 $ 14,128 Coordinate Fire/Building Code Inspections & Plan Review $ 11,318 Code Research, Interpretation & Technical Clarification 11,218 Assist Fire Dept access to Buildings & Subdivisions 11,218 $ 33,755 Process Zoning, SUP, Site Plan, ZBA & Platting Cases, etc. $ 26,352 Comprehensive Plan Update 23,352 $ 49,703 Municipal Governance F-1 T— Town Council Meetings/Workshops $ 11,218 $ 11,218 Municipal Administration 1 2 2.08% 2.08% 1.66% 1.65% 1.65% 4.96% 3.87% 3.43% 7.30% 1.65% 1.65% Contract Management $ 11,218 1.65% Support Services 360,528 52.99% $ 371,747 54.64% $ 680,403 100% GOALS AND OBJECTIVES Planning & Development Strategic Theme & Objective(s) ® Theme -- High Quality Planning, Design, & Development ® Objective(s) Encourage Westlake's Unique Sense of Place Optimize Planning & Development Capabilities Program Description The Planning and Development Department is responsible for processing platting and zoning requests and ensuring that proposed development will conform to the Town of Westlake's comprehensive pans. ® This also requires the continuous updating and amending of ordinances to address ever-changing development concerns. ® The Building and Code Compliance Division is responsible for the administration and „ enforcement of the Town's adopted building codes and ordinances to assure that development is executed and maintained in compliance with ordinances and approved development plans. Trends ® Permanent Population Growth: The North Central Council of Governments has updated Westlake's 2010 Census from 992 to 1,051. This is the portion of our population that is considered to be our permanent residence. An increase in population of 210 in 1990 to the present 1,051 represents a 400% increase. We anticipate the trend toward growth will continue as our existing lot inventory continues to be a scarce commodity. In addition, the aforementioned residential and mixed-use developments have the potential to significantly increase our permanent population. ® Over the past year, our community has had the opportunity to invest in our growth through the approval of zoning for a new single family housing development and potentially a mixed-use project. ® This type of growth pattern will provide for another 82 homes in Granada, at the corner of Solana Blvd. and FM 1938/Davis Blvd., with substantial exterior public open -space, trails and water amenities. 102 GOALS AND OBJECTIVES Planning & Development ® The adopted Entrada mixed-use development, along SH 114, is planned to be constructed over the next several years. It would include both commercial and residential components and feature a Spanish village theme. • Housing Start Increases: Westlake is expecting continued single family residential construction as a result of Granada. This is depicted in the side - chart - prerecession starts were at 38 per year and we are estimating 50 for the coming fiscal year. ® Management of Development: As the economy and the surrounding cities in the Metroplex experience commercial development and the influx of individuals continues to make the North Texas Region their home, we will need to manage our distinctive housing developments to ensure we maintain our community as an `oasis of natural beauty' as contained in our Vision statement. ® Percentage of expenditures in comparison to revenues generated $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0 FY 10/11 actual FY 11/12 actual FY 12/13 actual FY 13/14 estimated FY 14/15 adopted tRevenue $548,906 $446,172 $775,488 $859,990 $1,309,990 —11—Expenditure $188,019 $183,480 $191,698 $648,070 $680,403 % Comparison 34% 41% 25% 75% 52% Program Broad Goals • Prepare ordinances to amend existing ordinances as necessary to efficiently and logically guide development within the Town of Westlake. ® Provide the administrative, technical, and clerical services necessary to professionally regulate the codes and ordinances related to the construction and use of Commercial and Residential structures and properties within the community. ® Insure code and ordinance compliance through effective communication, accurate records management, and by taking appropriate action when necessary to obtain compliance. 103 GOALS AND OBJECTIVES Planning & Development 2013-2014 Highlights ® Provided Maximum 10 day turn -around time for SFR plans review submittal to permit issued. • Established a system for the annual renewal processes for Gas Well Pad Sites and Gas Wells, including the monitoring of compliance requirements unique to each site. ® Process all applications for platting, zoning, and site plans within prescribed deadlines. ® Started the Comprehensive Plan Update process. Held Public Input meeting and formed Stakeholder Steering Committee which met on numerous occasions to guide the update process. The Comprehensive Plan Update includes updating the following Master Plans: ® Land Use ® Master Thoroughfare • Open space / Trails • Water and Sewer • Streetscape / Landscape 2014-2015 Goals and Objectives ® Implementation of the Comprehensive Plan - As mentioned in the short term trends, the Town will complete the updating of our Comp Plan and will transition into the application phase of the recommendations and feedback from our Comprehensive Plan Steering Committee, residents and stakeholders, Planning & Zoning Committee Members, and our Town Council. This will include the update of the applicable ordinance documents that will help guide our future developments and all the corresponding plan elements. • Update all departmental information on the town web site. • Continue to update and revise the forms used for processing permits and tracking inspections. ® Develop a system for regulating the Entrada Development and build -out process by tracking the Site Plans, Developer's Agreements, and amendments to the PD 1-2 Zoning and Development Plan. Efficiency/Effectiveness Measures 104 Objective Actual Actual Estimated Adopted FY11/12 FY12/13 FY13/14 FY 14/15 1 % Single-family residential plans reviewed within 10 Idays of submittal. 100% 100% 100% 100% 2 % Commercial plans reviewed within 30 days of 95% 95% 95% 95% submittal. % Building inspections made within 24 hours of 3. request. 90% 95% 95% 95% 104 This page is intentionally blank IN Fund 100 General Fund Dept. No. 13 Town Secretary's Office Fiscal Year 2014/2015 IEmployee Staffing Town Secretary General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Filrotal Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay tal Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget I vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 1.00 1.00 34,839 $ 34,839 79,581 8,452 6,273 5,609 1,178 13,065 $ 114,157 1.00 1.00 1.00 1.00 36,459 36,459 $ 36,459 $ 36,459 1.00 1.00 40,594 $ 40,594 87,680 12,327 7,031 8,946 3,773 31,797 $ 151,553 82,097 82,097 9,436 9,436 6,600 6,600 6,034 6,034 0% - 3,273 3,273 25,672 14,672 0% - 0% - 0% - 0% - 0% $ 133,112 $ 122,112 1.00 1.00 40,594 $ 40,594 87,680 12,327 7,031 8,946 3,773 31,797 $ 151,553 t $ (79,318) 1 $ (96,653) $ (85,653) 1 $ (110,959) 0 W 7% 5,583 31% 2,891 7% 431 48% 2,911 0% - 15% 500 117% 17,125 0% - 0% - 0% - 0% - 0% t $ (79,318) 1 $ (96,653) $ (85,653) 1 $ (110,959) 0 W PROGRAM BUDGET Town Secretary Department 13 Department Directorl Kelly Edwards Department Phone 817-490-5710 Program Activity Budget I Percent Municipal Governance 1 Agenda and Packet Preparation $ 19,886 13.12% 2 Minute Preparation 6,077 4.01% 3 Board Appointments 3,222 2.13% $ 29,185 19.26% Academic Governance Agenda and Packet Minutes Election Administration 1 Elections $ 22,190 1 14.64% $ 22,190 1 14.64% Records Management 1 Town Records Management $ 11,353 7.49% z Codification 15,251 10.06% 3 Public Information Request 7,469 4.93% $ 34,072 22.48% Municipal Administration ri 1 2 Texas Student Support Servicesl $ 7,328 1 4.83% Marketing/Communications/Public Relations 2,259 1 1.49% $ 9,587 1 6.33% 1 Support Services $ 33,455 22.07% $ 33,455 22.07% $ 151,553 100% IM GOALS AND OBJECTIVES Town Secretary Strategic Theme & Objective(s) ® Theme -- Exemplary Service & Governance ® Objective(s) -- Increase Transparency, Accessibility, & Communications Encourage Westlake's Unique Sense of Place Maximize Efficiencies & Effectiveness Program Description ® Perform tasks outlined in the Texas Municipal Law and Procedure for General Law Type A Cities. TOWN of WESTLAArl TOWN SECRETARY • Coordinating municipal elections TEXASSTUUENTHOUSING • Providing support of the Town S " - Council, Board of Trustees, Planning and Zoning Commission, the Zoning Board of Adjustments, and the Texas Student Housing Authority. • Oversight of the Town's (municipal and academic) records management programs. ® The Town Secretary is also responsible for the communicating meeting information to the community. Trends ® The duties and responsibilities of the department indicate an increase in the number of activities/functions that impact the workload of this office. • Additional agenda postings for boards and commission meetings. • An increase in publications spurred by development. • Assisting departments with the implementation of individual department records management storage within Laserfiche. • Assisting multiple departments with the design concept and implementation of workflows to streamline and automate records management filing within Laserfiche. ® Continue increasing the number of documents departments scan and import into the Laserfiche Records Management software which provides staff with the ease of locating electronic records and should decrease the time for departments to locate responsive documents for public information requests. Town of Westlake • Meetings continue to be scheduled once a month for the Town Council, Board of Trustees and Planning and Zoning Commission. Planning and Zoning meetings may continue increase due to the recent approval of zoning changes allowing for a new subdivision and mixed use development. ® Time required on pre and post meeting activities are impacted by the actual number of meetings per year and the information generated for each meeting packet. The amount of time will fluctuate year to year based on the total number of meetings. M Town Secretary Agenda preparation includes: ■ Electronic packet preparation ■ Posting requirements ■ Distribution of meeting notifications ■ Preparation of minutes ■ Legal advertisements ■ Maintaining records associated with each meeting ■ Facility preparation for meeting Texas Student Housing ® The number of scholarship applications has leveled off in the past few years. However, In order to effectively manage the duties associated with the scholarship GOALS AND OBJECTIVES DID YOU KNOW The Town of Westlake has had 7 Mayors issuance process, since its incorporation. ® This office will continue to fine-tune the process by adding additional fields for data collection, and increase notifications as directed by the Board of Directors during the each annual award cycle. ® TSHA utilizes the Town Secretary and Executive Director for the labor-intensive data entry process. ® The Town Secretary maintains and updates the TSHA website. Program Broad Goals ® A commitment to leadership that ensures quality public service based on honesty, dependability, integrity, consistency, respectfulness, and fairness. ® Maintain accurate records that are available to the public, Boards, and staff through a user- friendly records management program in compliance with state law and our ordinances. ® Conduct elections accurately, efficiently, and in accordance with state law. ® Accept and process Texas Student Housing applications in a timely and effective manner. • Prepare notifications of scholarship awards and record responses in a timely and effective manner. ® Ensure the Code of Ordinances is updated as additions and revisions are approved by the Town Council. ® Maintain all permanent Town records in digital form. 2013-2014 Highlights • Continued a separate meeting email notification for residents through Constant Contact. • Prepared agendas, electronic packets and minutes for approval in a timely manner. ® Continued the implementation of Laserfiche Records Management software for Town records by Department. ® Completed Graduate Institute and Election Law training. ® All Municipal and Academic minutes, resolutions, and ordinances have been scanned into the Laserfiche records management software. ® Public Works As-bulits, Commercial plans and 970 of Building permit records were scanned into Laserfiche. GOALS AND OBJECTIVES Town Secretary • Completed the implementation of the Laserfiche workflow for Municipal Court and filed all court citations back to January 1, 2014, enabling the department to become a paper -lite Court of Record. ® Began implementing Laserfiche at Westlake Academy for student records. ® Completed the design concept of Laserfiche workflows for Personnel and Student records. ® Completed a third records destruction of Municipal records. 2014-2015 Goals and Objectives ® Continue with the implementation of Laserfiche at Westlake Academy importing student records. ® Attend Municipal Clerks training at the Graduate Institute and additional training to maintain the Municipal Clerks certification. ® Continue Records Inventory for the Town's Secretary's Office, encourage all departments to upload additional records into Laserfiche and complete an annual destruction for records which have met retention requirements. • Implement workflows for Personnel and Student records automating the importing process of documents. ® Continue records inventory of Texas Student Housing Authority Records and identify records for destruction. ® Complete the Laserfiche implementation and scanning of Texas Student Housing permanent records. Efficiency/Effectiveness Measures am Objective Actual Actual Estimated Adopted FY 11/12 FY 12/13 13/14 FY 14/15 100% 100% 1 Post all Board meeting agendas to website at least 100% 100% 72 -hours prior to the meeting date and time. 2' Complete Minutes of regularly scheduled meetings 98% 98% 99% 99% and workshops within five (5) business days. 3 Respond to all open records request within 10 100% 100% 100% 100% business days. am This page is intentionally blank Fund 100 General Fund Dept. No. 14 Emergency Services Fiscal Year 2014/2015 Employee Staffing, Fire Chief Firefighter/Paramedics (Lt.) Fire Marshal part-time Firefighter/Paramedics full time Firefighter/Paramedics part-time Total Revenues Ad General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Total Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/12 725,087 131,074 876,432 876,432789,237 76,883 75,145 100,224 73,906 120,083 120,083 7,425 42,075 67,499 45,345 85,152 85,152 13,525 43,416 64,418 64,418 10,480 $ ><.• 78,619 131,074 115,563 119,913 49,513 76,883 75,145 86,456 78,406 73,906 7,423 7,425 7,425 7,425 42,075 41,645 45,345 45,345 14,672 13,525 13,525 13,525 0% 28,215 31,200 31,200 10,480 $ ><.• $ 1,441,89 1,441,898 $ 1,588,558 0% 15% 131,074 41% 49,513 5% 4,085 47% 30,238 0% - -36% (43,030) -6% (4,500) 0% 0% 0% 0% -66% (20,720) 10% 46,660 Net 1 1 $ (987,047) 1 $ (1,305,898) $ (1,305,898) 1 $ (1,452,558) 1 11% (146,660) 112 PROGRAM BUDGET Emergency Services Department 14 Department Director Richard Whitten Department Phone 817-337-4722 Program Activity Budget I Percent Emergencv Operations Operations Support 1 Fire/Emergency Services $ 428,972 27.00% 2 Emergency Medical Services 430,844 27.12% 3 Part Time Employees $ 259,939 1,119,755 16.36% 70.49% Operations Support Emereencv Prevention 1 Inspection Services $ 98,574 6.21% 2 Plan Review 5,033 0.32% 3 Public Education 14,951 0.94% $ 118,558 7.46% Billing Services TBilling Services $ 12,000 0.76% $ 12,000 0.76% Municipal Administration 1 Administration and Management $ 263,807 16.61% 2 Staff Training and Development 50364 3.17% $ 314,172 19.78% $ 1,588,558 100% 113 1 Medical Director Services $ 2,151 0.14% 2 Hydrant Maintenance/Testing 17,894 1.13% 3 Recruiting 4,028 0.25% $ 24,073 1.52% Emereencv Prevention 1 Inspection Services $ 98,574 6.21% 2 Plan Review 5,033 0.32% 3 Public Education 14,951 0.94% $ 118,558 7.46% Billing Services TBilling Services $ 12,000 0.76% $ 12,000 0.76% Municipal Administration 1 Administration and Management $ 263,807 16.61% 2 Staff Training and Development 50364 3.17% $ 314,172 19.78% $ 1,588,558 100% 113 GOALS AND OBJECTIVES FIRE - EMS Department Strategic Vision Points Theme Exemplary Service & Governance ® Objective(s) Preserve Desirability & Quality of Life Maximize Efficiencies & Effectiveness Increase Citizen, Student, & Stakeholder Satisfaction Program Description The Fire - EMS Department provides for the public safety needs of the Town via a variety of programs and services. *The majority of these services are Fire and Emergency Medical Services (EMS) related but also includes hazardous materials mitigation, fire prevention and public education. Many civic organizations also benefit from these types of services through the training activities and inspection/prevention programs that the Department provides. The Department will continue to provide the most efficient method of delivering the traditional services - Fire Protection, Emergency Medical Services, Fire Inspections and Public Education while continuing to seek further avenues of outreach into the community. Trends *The level of activity historically trends into four main areas: Emergency Operations, Training, Routine Activities and Public Orientated Activities. • Personnel continue to take advantage of joint training exercises and contracts which reduces cost and increases familiarity with personnel and equipment of our mutual aid agencies. • Specialized training targets firefighter development that enhances our current services through state certification levels. Ongoing efforts to increase public involvement through education, relationship development and services. 114 GOALS AND OBJECTIVES FIRE - EMS Department Daily activities and work details are the most time consuming activities due to their nature. These activities are necessary to maintain the proper condition and operation of the equipment. Program Broad Goals • Provide safe, efficient, and professional emergency services to the Town. • Broaden the foundation of the department to initiate superior programs and interact with the citizens. * Work towards achieving the Texas Fire Chief's Best Practices. • Develop the Department using the Center for Public Safety Excellence (CFAI) model. • Continue efforts in professional development for personnel through multi -faceted avenues. • Improve prevention and public education programs by providing a variety of all hazard safety and prevention classes for residents and corporate offices. • Continue the advancement of prevention and inspection programs. • Continue relationship building with the corporate business network group. 2013-2014 Highlights • Implemented programs and policies in compliance with the Texas Fire Chief's Best Practices. • Conducted numerous CPR, AED, and fire extinguisher classes. • Began the Installation of an Outdoor Warning Siren System that will enhance our Early Warning System. 2014-2015 Goals and Objectives u u .o. N Continue training the public in the use of CPR and AEDs (Automatic External Defibrillators) . Continue training the public in the use of fire extinguishers. Implementing programs and policies to improve the Insurance Service Office (ISO) Conduct a Community Risk Analysis. UM rating. GOALS AND OBJECTIVES FIRE - EMS Department • Develop a Standard's of Cover (SOC). • Continue NIMS (National Incident Management System) training for public officials and staff. • Continue performing emergency drills for local business as they relate to fire and severe weather. • Continue training for all personnel in all disciplines of certification and career development. • Enhance our public education and prevention programs within Westlake Academy. Target subjects include home safety principles, health and medical awareness programs such as weather related safety programs, CPR and AED training, baby sitting safety tips, and general operational and maintenance of home sprinkler systems. Performance Measures DID YOU KNOW "Each year more than 2,500 people die and 12,600 are injured in home fires in the United States. In just two minutes, a fire could kill you. In five minutes, a house could be swallowed in flames." Retrieved from http://www.ready.gov Actual Actual Estimated Projected Objective FY 11 /12 FY 12/13 FY 13/14 FY 14/15 t Emergency incidents with a 67% 62% 60% 65% response time of 6 minutes or less 2. Fire incidents with a turn -out time of 80 seconds or less NR 82% 85% 85% 3. EMS incidents with a turn -out time of 60 seconds or less NR 79% 77% 75% ■ Turn -out time (reaction time) is the time frame that a call is dispatched to the time that units respond. ■ NR = Not Reported. z This page is intentionally blank 117 Fund 100 General Fund Dept. No. 15 Municipal Court Fiscal Year 2014/2015 Employee Staffing Administrator Supervisor Deputy Clerk Judge Marshal Part Time Clerk Total' evenue General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Adopted Estimated EF4 Adopted FY 14/15 Actual Budget Budget vs FY 12/13 FY 13/14 FY 13/14 Estimated FY 13/14 -60% (0.150) 0% 0% - 0% - 0% - 100% 0.500 7% 0.3 199,688 36,421 15,678 12,972 10,275 96,893 407 709 173 $ 373,216 10% 22,176 211,388 211,388 42,508 42,508 17,837 17,837 14,802 14,802 0% - 10,796 10,796 114,405 114,405 480 480 2,600 2,600 2,737 2,737 100% 1,000 12 48,218 $ 7,554 $ 417,5 10% 22,176 33% 14,018 6% 988 47% 7,028 0% - 0% - 3% 3,008 0% - 0% - 0% - 0% - 100% 1,000 12 48,218 $ 332,101 $ 162,715 $ 237,715 $ 214,497 -10% (23,218) Municipal Court Department 15 PROGRAM BUDGET Department Director Amanda DeGan Department Phone 817-430-0861 Docketin F31 2 Warrant and Jail Services 1 2 3 Collection Services Plea Docket $ 43,708 9.38% Pre -Trial Docket 41,725 Program I Activity I Budget I Percent Case Processing 23.29% 3 Legislative & Legal Compliance 1 Citation Management $ 40,610 8.72% Monthly Reporting, Financial Oversight and Budgeting 2 Customer Service 40,836 8.77% $ 3 Financial Processing 22,489 4.83% $ 103,935 22.31% Docketin F31 2 Warrant and Jail Services 1 2 3 Collection Services Plea Docket $ 43,708 9.38% Pre -Trial Docket 41,725 8.96% Trial Docket 23,031 4.94% $ 108,464 23.29% Issuance Function $ 14,392 3.09% Field & Office Arrests 85,123 18.28% Jail Processing 38,248 8.21% $ 137,763 29.58% Judiciary & Administration 1 Case Review & Archival $ 24,225 5.20% 2 Staff Management 23,089 4.96% 3 Legislative & Legal Compliance 28,198 6.05% 4 Monthly Reporting, Financial Oversight and Budgeting 9,763 2.10% $ 85,274 18.31% Academic Governance 1 Municipal Governance i ME Westlake Academyl 1 0.00% $ 1 0.00% Town of Westlakel 0.00% $ 0.00% $ 465,772 100% Municipal Court Strategic Theme & Objective(s) • Theme -- Exemplary Service & Governance • Objective(s) Maximize Efficiency & Effectiveness Increase Financial Capacity / Reserves Program Description GOALS AND OBJECTIVES *The Municipal Court performs the duties necessary to support municipal judicial functions, assist the public and manage court operations. The program will uphold the integrity of the Court and build public trust by providing unbiased quality service and accurate information delivered in an efficient and professional manner. Trends • Processes consistent workload of approximately 7,000 new case filings annually. The current trend is higher than the previous year with a projected increase of 1,000 cases. • The issuance levels in the speeding citations show a projected increase of 27% for the current fiscal year, and speeding in a construction zone is also projected to increase 75% due to enforcement on FM 1938/Davis. Blvd. and Hwy 114. • The equipment, insurance, and driver license related violations (expired registration, expired license, failure to maintain financial resp., etc.) show an expected decrease of 30% this year. Staff continues to participate in the annual State-wide Warrant Round -up for the sixth year with the following results; approximate decrease of 33% (291 vs. 431) cases cleared and a 39% decrease in cash collections ($41,000 vs. $67,000) in comparison to last year's program. Police Initiated Case Filings 10,000 8,000 6,000 4,000 2,000 0 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 actual actual actual estimated projected 120 Overall Number of Filed Violations 10,000 8,000 6,000 4,000 2,000 0 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 actual actual actual estimated projected Municipal Court Number of Cleared Arrest Warrants 1,750 1,500 1,250 1,000 750 500 250 0 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 actual actual actual estimated projected Program Broad Goals GOALS AND OBJECTIVES Collected Fine & Warrant Revenue 600,000 500,000 400,000 300,000 200,000 100,000 0 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 actual actual actual estimated projected • Court staff will provide prompt assistance in a courteous manner. This includes telephone service, mail service and customers who appear in person. • Court staff will work to enter citations in a timely manner and complete daily court deposits. • The Court will conduct hearings and trials in a professional and dignified manner in order to provide an impartial setting for cases to be adjudicated by the Municipal Court Judge. • Court staff will continue to work in conjunction with the collection agency and other involved agencies to reduce the number of outstanding arrest warrants. The collection efforts will be monitored and updates reported to the Department Director. Court staff will work in partnership with the Texas Department of Public Safety to operate the driver's license suspension program for defendants who have outstanding or delinquent fines in the Court. 2013-2014 Highlights DID YOU KNOW On average, the fine amounts for Class C misdemeanor offenses (municipal citations) consist of approximately 35% • State-wide Warrant Round -up participation; 552 warrants to 40% of taxes that are issued; 670 cleared = 122% clearance rate remitted to the State.- • Began organizational development meetings with staff to help align our department culture with the organizational culture. ---)p • Transitioned portions of the hard copies of case files to electronic record keeping format via LaserFiche. Began the programming and installation for the workflow module to promote a seamless integration the electronic ticket writers and our court software system. All in an effort to move toward a `paper lite' office. 2014-2015 Goals and Objectives Institute additional "Rules of the Court" to guide staff in routine issues per the Judges direction and utilize as basis for policy and procedures manual for front office. 121 GOALS AND OBJECTIVES Municipal Court • Begin court observation process for court supervisor to obtain Level III certification; work toward Level I certification for deputy court clerk. • Implement warrant transfer service support for Keller Police Department a minimum of two days per week. • Facilitate marshal field service of arrest warrants a minimum of two days per week • Migrate the balanced scorecard system to the court department and develop performance measures. Efficiency/Effectiveness Measures 122 Actual Actual Estimated Adopted Objective FY 11/12 FY 12/13 FY 13/14 FY 14/15 100% 1 Violations entered within 3 95% 95% 95% business days of receipt Collections of warrant division in 2 both cash and non-cash 07% above 15% above 28% above At clearances. Benchmark is equal benchmark benchmark benchmark benchmark to $35,000 per month 3 Issue arrest warrants at 45 day 70% 80% 90% 100% delinquency 122 This page is intentionally blank 123 Fund 100 General Fund Dept. No. 16 Public Works Fiscal Year 2014/2015 Employee Staffing Director Technician Clerk Customer Service Coordinator Customer Service Representative Total Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget I vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/12 Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay tal 141,855 21,834 13,569 10,021 (131,288) 4,884 31,821 20,604 207,287 75 $ 320,661 Now A OL A 179,456 32,515 18,315 18,309 (198,748) 3,041 60,500 25,000 100,700 500 $ 239,590 173,132 173,132 24,755 24,755 17,766 17,766 12,725 12,725 (171,113) (171,113) 3,041 3,041 60,500 41,000 0% - 20,000 20,000 100,700 100,700 0% - 500 500 $ 242,006 $ 222,5064 OL A 179,456 32,515 18,315 18,309 (198,748) 3,041 60,500 25,000 100,700 500 $ 239,590 Total 1 $ (320,661) 1 $ (242,006) $ (222,506) 1 $ (239,590) 1 87, 17, 124 4% 6,324 31% 7,761 3% 549 44% 5,584 16% (27,635) 0% - 48% 19,500 0% - 25% 5,000 0% - 0% - 0% - Total 1 $ (320,661) 1 $ (242,006) $ (222,506) 1 $ (239,590) 1 87, 17, 124 General Fund Public Works Department 16 PROGRAM BUDGET DirectorIJarrod Greenwood it Phone 817-490-5717 Program I Activity I Budget I Percent ROW Management 1 Drainage $ 52,928 22.09% 2 Line Locates 3,263 1.36% 3 Duct Bank Management 6,527 2.72% 4 Open Space Services 116,788 48.74% $ 179,506 74.92% Transportation Services 1 2 3 Municipal Governance 1 Citizen Engagement and Communication 1 Sign and Signal Maintenance $ 8,726 3.64% Pavement & Shoulder Maintenance 31,378 13.10% Street Reconstruction 9,102 3.80% $ 49,206 20.54% Town Council Meetings/Workshops $ 9,790 4.09% $ 9,790 4.09% Neighborhood Gatherings and Outreach 125 $ 239,590 100% Public Works Strategic Theme & Objective(s) • Theme - Exemplary Service & Governance • Objective(s) Improve Technology, Facilities, & Equipment Maximize Efficiencies & Effectiveness Program Description • The Public Works Department is responsible for: the operation, maintenance, repair, and installation of the Town's traffic signs, signals, roadway markings, and approximately 10 miles of street pavement and storm drainage; maintaining public records and regulatory requirements; • Public Works also assists other departments, the Academy, and volunteer groups as needed: • Setting up for community events • Providing traffic control devices for DPS use • Supervision of community service workers • Provide back-up coordinating/inspecting work for facility maintenance GOALS AND OBJECTIVES Trends The Town's population continues to increase (see Planning & Development Section), which also generates a significant increase in the demand for Public Works services. • With the continued influx of new residents we experience a demand for services that rivals surrounding municipalities as many are accustomed to receiving a broad base of public services. Staff manages these expectations and provides an accessible department that values the personal relationship with our residents. • The FM 1938 landscape enhancement project continues to occupy a large amount of staff time as the project progresses and Town improvements are built. This will provide a signature 'sense of place' as a major north / south thoroughfare for our community. Additional development projects will also require staff attention as our community continues to expand within the DFW Metroplex. Program Broad Goals ♦ Maintain streets and shoulders in safe travelable condition. • Maintain water and waste water infrastructure to provide safe and reliable potable water to Town customers. • Maintain accurate inventory of streets and their current condition. 126 GOALS AND OBJECTIVES Public Works * Manage all Public Works capital projects to be on schedule and within budget. 2013-2014 Accomplishments • Construction of a secondary 1 MG ground storage tank was completed this fiscal year. The additional tank will provide for redundancy, increase water storage capacity for future demand, help reduce peak charges incurred from the City of Fort Worth, and allow the existing tank to be taken out of service, as required by TCEQ. The existing tank will undergo repairs and repainting without jeopardizing water service delivery to Westlake residents and customers. • Landscape enhancements on FM 1938 ♦ Completely updated SCADA system to improve reliability and infrastructure management as the system was 10 years old and had reached the end of its anticipated life span. The new system will enhance our ability to monitor and control the system. 2014-2015 Goals and Objectives • Continue to work with Streetscape consultant for enhancement of FM 1938 and SH1 14/170 projects. • Transfer N-1 sewer line to TRA. • Work with the new residential development, Granada, and the potential mixed-use development, Entrada, to ensure adherence to our approved plans, Town standards, and the developer agreements. Efficiency/Effectiveness Measures Objective LF of Drainage Ditch and Culvert Repair/Maintenance 2. 1 LF of street reconstruction DID YOU KNOW Westlake and Keller have a shared elevated storage tank that is a "tank inside of a tank" design. It is the only one known in existence.— Actual Actual Estimated Adopted FY 11/12 FY 12/13 FY 13/14 FY 14/15 200 LF 2,500 LF 2,500 LF 200 LF 9,250 LF 10,000 LF 10,000 LF 700 LF 127 Fund 100 General Fund Dept. No. 17 Facilities Maintenance Fiscal Year 2014/2015 Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/12 0.50 0.25 0.167 0.167 General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay 65,802 9,143 5,684 4,084 (22,830) 3,629 10,826 12,816 100 1,749 $ 91,002 $ (82,428) $ (106,548) $ (102,348) $ (110,998) 87. $ (8,654 63,331 63,331 9,754 9,754 6,153 6,153 4,655 4,655 (24,629) (24,629) 6,043 6,043 19,833 19,833 242 242 21,017 21,017 400 400 25% 100 - 0% - - 106,79 $ 115,448 $ (82,428) $ (106,548) $ (102,348) $ (110,998) 87. $ (8,654 75,999 20% 12,668 19,728 102% 9,975 7,350 19% 1,197 7,754 67% 3,099 (55,416) 125% (30,787) 13,043 116% 7,000 22,633 14% 2,800 242 0% - 23,615 12% 2,598 500 25% 100 - 0% - - 0% $ 115,448 $ (82,428) $ (106,548) $ (102,348) $ (110,998) 87. $ (8,654 Facilities Maintenance Department 17 PROGRAM BUDGET Department Director: ITroy Meyer Department Phone: 817-490-5735 Program I Activity I Budget I Percent Academic Administration Municipal Administration 1 Life Safety $ 3,118 2.70% 2 Facilities Maintenance 7,005 6.07% 3 Open Space Services 10,138 8.78% 4 Support Services 14,637 12.68% $ 34,897 30.23% Academic Governance 1 Municipal Governance 1 129 Board of Trustee Meetings/Workshopsi $ 4,877 1 4.22% $ 4,877 1 4.22% Town Council Meetings/Workshopsi $ 6,650 1 5.76% $ 6,650 1 5.76% $ 115,448 100% GOALS AND OBJECTIVES Facilities Maintenance Strategic Theme & Objective(s) ® Theme Natural Oasis ® Objective(s) Improve Technology, Facilities, & Equipment Program Description • The Town of Westlake will plan for and provide facilities to enhance present and future community and educational programs and endeavors. ® Long-range plans include: maintenance, renovation, construction of facilities as related to civic use and educational programs - efficient facilities meeting program needs. ® Westlake Civic Campus facilities are generally available to the community. The Town will continue to develop cooperative projects with the community and agencies. Trends ® Continued maintenance and oversight of the various capital assets for the community, including the facilitation of any expansion planning and construction along with temporary rental units. o Westlake Academy phase one expansion project - commencing in the summer of 2013 and to be completed in the fall of 2014. o Arts and Sciences Center parking lot expansion which added 128 paking spaces to the campus. o Replacement of the temporary fire station, from a 14' X 60' mobile home, with a pre- owned 40' X 60' mobile home that was donated in January 2011 by WB Texas Resort Communities, LP. o Oversight of the rented facilities for municipal administration at the Solana _ office complex. o Acquisition and maintenance of the Parchman property and the IOOF cemetery. o Installation of three (3) temporary classroom buildings to the west of the Sam & Margaret Lee Arts and Sciences Center for an additional 4,680 sq. ft. of classroom space and restrooms. 130 GOALS AND OBJECTIVES Facilities Maintenance • A facility master plan was drafted for our Westlake Academy campus in the spring of 2011 and updated by an additional architect firm. o Staff continues to oversee the evolution of the master plan with updates and evaluation according to building construction and student enrollment. • Westlake Academy increased the student population to approximately 820 in the fall of 2014. ® Security remains a priority on campus, with a full security audit completed in April 2013 including the interviewing of staff, accessing security systems, written plans, and threat assessment. As a result the front office was remolded to improve how visitors check in and out of the school. ® Jacob Engineering completed a second traffic study for the pick-up and drop-off flow for both MYP and PYP due to an increase in stunent enrollment in the fall 2014 and input from the D.O.G parent group. Program Broad Goals ® Ensure that the Town has an effective long-range plan for facilities development and maintenance. ® Facilities planning process will be communicated in a clear and concise format, including input from residents, Academy and Town staff. ® Town facilities will be operated in a cost efficient and energy efficient manner. 2013-2014 Highlights ® With the recommendation from the 2013 Security Audit the front office of the Westlake Academy was redesigned to ensure all visitors are checking in before entering the school. ® Steele & Freeman construction manager at risk was selected in June 2013 to construct Phase One of the Westlake Academy expansion project - commencing in the summer of 2013 and completed in the fall of 2014. • Completed the northwest parking lot improvement at the Westlake Academy for the 2014 - 2015 school year. ® Staff attended a fire station design program in Baltimore, Maryland. ® Began discussions with architect to design a Town Hall building. • One of two boilers at the Westlake Academy campus was replaced due to age. The second one was replaced in the summer of 2014. 131 GOALS AND OBJECTIVES Facilities Maintenance 2014-2015 Goals and Objectives ® Facilities Plan will be developed, including an annual maintenance, periodic maintenance, and facilities use plan. ® A long-range plan will be developed for future facilities needs based on census data and local and regional community development plans. ® Create a leadership team emergency response plan for weather and facility events. ® Ensure the Christmas Lighting, Arbor Day and Decoration Day events have a quality setting. ® Create a safe working and learning environment for teachers, administration staff, students and visitors, by maintaining a quarterly and monthly maintenance agreement for the Academy, Solana, Fire Station and Municipal Campus for the following systems: ■ Cleaning service - Daily and semi-annual, window, carpet and the floors ■ HVAC and heating - Quarterly ■ Electrical systems - Quarterly ■ Security systems - Semi-annual ■ Fire sprinkler and alarm systems - Annual ■ Maintain the campus landscaping: ■ 36 mowings, fertilizations, weed control *Athletic Field Maintenance: ■ Athletic Field - 2 field mowings around athletic field ■ Athletic Field - 36 mowings by staff ® Parchman house maintenance ® Cemetery maintenance ® Fire station maintenance ® Serve as back-up for the Public Works department Efficiency/Effectiveness Measures 132 Actual Actual Estimated Adopted Objective FY 11/12 FY 12/13 FY 13/14 FY 14/15 100% compliant with fire sprinkler and alarm 1 100% 100% 100% 100% inspection schedule Projects completed on time (Remodeling, A 2 100% 100% 100% 100% & S, Water Well, Camera update,. etc.) Maintain the campus and park contract 3. Yes Yes Yes Yes services 132 This page is intentionally blank 133 Fund 100 General Fund Dept. No. 18 Finance Office Fiscal Year 2014/2015 Employee Staffing Director Supervisior Accounting Technician Customer Service Coordinator evenues: General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Total Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 232,580 31,555 17,274 16,400 (150,472) 6,036 31,055 I/ 11 I/ 11 11 11 17,468 17,468 ee (172,465) 232,580 31,555 17,274 16,400 (150,472) 6,036 31,055 329,023 37,911 20,894 26,580 (172,952) 5,675 38,341 2,800 288,272 0.0% 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 237,655 237,655 34,757 34,757 19,116 19,116 17,468 17,468 (172,465) (172,465) 5,675 4,685 31,871 32,861 0.0% - 0.0% 0.0% 0.0% - 100.0% 2,800 174,077 $ 174,07 329,023 37,911 20,894 26,580 (172,952) 5,675 38,341 2,800 288,272 0.0% 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - Net $ (I (174,077 1 $ (288,272) 1 65.6% (114,T95) 134 38.47. 91,369 9.1% 3,154 9.3% 1,778 52.2% 9,112 0.3% (487) 21.1% 990 16.7% 5,480 0.0% - 0.0% 0.0% 0.0% - 100.0% 2,800 65.6% 114,195 Net $ (I (174,077 1 $ (288,272) 1 65.6% (114,T95) 134 PROGRAM BUDGET Finance Department 18 Department Directorl Debbie Piper Department Phone 817-490-5712 Program Activity Budget I Percent Financial Management - Municipal 1 I Municipal Annual Budget $ 57,423 19.92% 2 Capital Improvement Plan (CIP) 9,369 3.25% $ 66,791 23.17% Utility Billing 1 Utility Billing and Processing $ 2,814 0.98% $ 2,814 0.98% Accounting Services - Municipal 1 Accounts Payable $ 7,713 2.68% 2 Accounts Receivable 6,013 2.09% 3 Payroll 24,846 8.62% 4 Financial Reporting 51,907 18.01% 5 Cash & Investment Management $ 10,964 101,442 3.80% 35.19% Municipal Governance 1 Accounting Services - Academic Town Council Meetings/Workshops $ 7,553 2.62% $ 7,553 2.62% 1 Accounts Payable $ 4,948 1.72% 2 Accounts Receivable 3,934 1.36% 3 Payroll 7,647 2.65% 4 Financial Reporting 31,163 10.81% 5 Cash & Investment Management 3,960 1.37% 6 Academic Annual Budget 35,171 1 12.20% $ 86,821 1 30.12% Academic Governance 1 Accounting Services - Foundation Board of Trustees Meetings/Workshopsj $ 3,467 1 1.20% $ 3,467 1 1.20% 1 Accounts Payable $ 3,754 1.30% 2 Accounts Receivable 3,754 1.30% 3 Payroll 2,527 0.88% 4 Financial Reporting 8,383 2.91% $ 18,418 6.39% Foundation Governance 1 135 Board Meetings/Workshops $ 966 0.34% 966 0.34% $ 288,272 1 100% GOALS AND OBJECTIVES Finance Strategic Theme & Objective(s) • Theme - Exemplary Service & Governance • Objective(s) - Increase Financial Capacity / Reserves '. Increase Revenue Streams 1 Program Description ' '1 *The Finance Department is responsible for collecting, recording, summarizing, and reporting the results of all financial transactions of the following entities in a timely manner and in accordance with generally accepted accounting principles while ensuring compliance with applicable state and federal statutes, bond covenants and grant contracts by reviewing financial data and reporting such in a timely manner. • Town of Westlake • Westlake Academy • Westlake Academy Foundation Accounts Payable - The Accounts Payable Section of the Finance Department is responsible for reviewing all invoices for making payments of all legally incurred and property authorized obligations. Payments will be issued in a manner to maintain the credit worthiness of Westlake Academy and to take advantage of all available discounts. Payroll Processing - The Finance Department is responsible for the payment of salaries and wages according to established procedures on specified days according to the adopted payroll calendar. The Town of Westlake operates two payroll systems concurrently; one for employees who are on a normal 40 -hour work week, and another cycle for DPS employees who work 24-hour shifts. This dual system is commonplace in cities to accommodate FLSA 0 GOVERNMENT FINANCE OFFICERS ASSOCIATION Certificate of Achievement for Excellence in Financial Reporting Presented to Town of Westlake Texas For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2013 requirements. * Cash Collections - The establishment of strong internal controls for cash collections is necessary to prevent mishandling of funds and to safeguard against loss. In addition, strong internal controls are designed to protect employees from inappropriate charges of mishandling funds by defining employee responsibilities in the cash handling process. Cash is considered to include coin, currency, checks, money orders, and credit card transactions. Audits - In conjunction with maintaining financial records, the Department is responsible for the preparation for and coordination of the annual external financial audits for the Town of Westlake, Westlake Academy and Westlake Academy Foundation. 136 GOALS AND OBJECTIVES Finance Budgets - The Town's annual budget is prepared in the context of a five (5-8) year financial forecast. The proposed budget is submitted to the Council approximately thirty to forty-five days prior to the beginning of the fiscal year for their consideration. The Town's budget is allocated by fund and is designed to provide a clear picture of the Town's spending, allocation of financial resources, and priorities as well as how they are set to carry out the policy direction of the Council. Westlake Academy - The Department works with the Education Service Center (Region XI) to maintain Westlake Academy's financial system and fiscal controls, i.e. general ledger, payroll, accounts payable, accounts receivable and cash management. Fraud - The Town of Westlake is committed to protecting its revenue, property, information and other assets from any attempt, either by members of the public, contractors, agents, intermediaries or its own employees, to gain by deceit, financial or other benefits. It is Westlake's intent to fully investigate any suspected acts of fraud, misappropriation or other similar irregularity. Trends Finance and accounting are core functions that often expand in direct correlation with an organization that continues to expand Increases in the number of Academy employees, the number of utility customers, and the number of necessary fiduciary processes over past five years Plans for continued expansion at Westlake Academy combined with residential population increases and economic development will continue to challenge the Finance Department's ability to maintain the highest levels of service and quality with existing staffing. Program Broad Goals Ii� DID YOU KNOW • There are 293 ways to make change for a dollar. • More Monopoly money is printed in a year, than real money printed throughout the world. • Pocahontas appeared on the back of the $20 bill in 1875. • A dime has 118 ridges around the edge, a quarter has 119. Provide Town Council, management, departments and citizens with accurate and timely financial records and reports in the most efficient manner. Maintain the accounting and financial reporting systems in conformance with all state and federal laws, Generally Accepted Accounting Principles (GAAP), standards of the 137 GOALS AND OBJECTIVES Finance Governmental Accounting Standards Board (GASB) and the Government Finance Officers Association (GFOA). Provide sound and conservative fiscal management in compliance with all state and federal regulations. Adhere to policies established by the Public Funds Investment Act, applicable bond covenants, and the Town's adopted investment policy and ensure proper collateralization of bank deposits. 2013-2014 Highlights Prepared, submitted and received the Town's • Distinguished Budget Presentation Award for recognition from the Government Finance Officers Association. Awards received for 2007 thru 2013 • Comprehensive Annual Financial Report for recognition from the Government Finance Officers Association. Awards received for 2007 thru 2013 • Popular Annual Financial Reporting Award for recognition from the Government Finance Officers Association. Awards received for 2011 thru 2013 Prepared, submitted and received Westlake Academy's • Distinguished Budget Presentation Award for recognition from the Government Finance Officers Association. Awards received for 2009 thru 2013 • International Award for Budget Excellence for recognition from the Association of School Business Officials International. Awards received for 2009 thru 2013 Received an unqualified audit opinion on the 09/30/2013 Comprehensive Annual Financial Report. Scanning all FYI 3/14 finance documents to eliminate storage problems and help with efficiency of the department. Restructured the finance department duties in conjunction with the elimination of two front desk positions and the addition of two new customer service positions. IM 0 GOVERNMENT FINANCE OFFICERS ASSOCIATION Distinguished Budget Presentation Award Presented to Town of Westlake Texas For the Fiscal Year Beginning October 1, 2013 •r. 0 GOVERNMENT FINANCE OFFICERS ASSOCIATION Award for Outstanding Achievement in Popular Annual Financial Reporting Presented to Town of Westlake Texas For its Annual Financial Report for the Fiscal Year Ended September 30, 2013 Finance 2014-2015 Goals and Objectives GOALS AND OBJECTIVES Prepare and submit the budget for a Distinguished Budget Presentation Award for recognition from Government Finance Officers Association for the Town of Westlake and Westlake Academy. Prepare and submit the Town's Comprehensive Annual Financial Report (CAFR) for recognition from the Government Finance Officers Association recognition. Prepare and submit the Town's Popular Annual Financial Report (PAFR) for recognition from the Government Finance Officers Association. * Receive an unqualified audit opinion on the Comprehensive Annual Financial Report. Efficiency/Effectiveness Measures Objective Actual Actual I FY 11/12 FY 12/13 1 0 4 Auditor prepared audit 1' adjustments not to exceed Prepare five year budget 2 forecast for subsequent year June May 3. Annual CIP update July May 139 !stimated Adopted Y 13/14 FY 14/15 5 5 May June May June Fund 100 General Fund Dept. No. 19 Parks and Recreation Fiscal Year 2014/2015 Employee Director Administrative Assistant Customer Service Coordinator Customer Service Representative Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget I vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/12 0.50 0.50 Revenues General Sales Tax Property Tax - Hotel Tax Charges for Services - Contributions Beverage Tax Franchise Fees - Permits & Fees - Fines & Forfeitures Investment Earnings - Misc Income - Total1 $ Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay 42,582 6,926 3,911 2,968 (12,812) 6,087 18,698 28,568 12,094 $ 109,022 all 73,500 10% 60,832 60,832 9,400 9,400 5,910 5,910 4,471 4,471 (24,538) (24,538) 8,933 8,933 36,230 36,230 - - 37,500 37,500 8,780 8,780 - 0% - 1,500 100% 1,500 $ 147,518 $ 147,51 all 73,500 10% 217 12,668 19,181 104% 9,782 7,099 20% 1,188 7,499 68% 3,028 (53,639) 119% (29,102) 8,933 0% - 49,250 36% 13,020 - - 62,500 67% 25,000 8,780 0% - - 0% - 1,500 100% 1,500 $ 184,602 37,084 t 1 $ (109,022) 1 $ (147,518) $ (147,518) 1 $ (184,602) 25%. 37,084) 140 PROGRAM BUDGET Parks and Recreation Program I Activity Budget Percent Parks and Recreation Maintenance 1 Open Space Services $ 83,727 45.36% 2 Trail Development and Maintenance 56,867 30.80% $ 140,594 76.16% Citizen Communication & Engagement 1 Community Services $ 12,080 1 6.54% Academic Administration $ 12,080 6.54% 1 Academy Partnerships $ 14,228 1 7.71% Municipal Administration $ 14,228 7.71% 1 Purchasing $ 4,291 2.32% 2 Support Services 6,973 3.78% Academic Governance $ 11,264 6.10% 1 Board of Trustee Meetings/Workshops $ 3,218 1.74% Municipal Governance $ 3,218 1.74% 1 Town Council Meetings/Workshops $ 3,218 1 1.74% $ 3,218 1 1.74% $ 184,602 100% 141 GOALS AND OBJECTIVES Parks & Recreation Strategic Theme & Objective(s) ® Theme Natural Oasis ® Objective(s) Encourage Westlake's Unique Sense of Place Preserve Desirability & Quality of Life Program Description ® The Park and Recreation Department maintains a 39.5 acre park and open spaces, which includes Glenwyck farms, Terra Bella sub -division and Parchman property. ` •� • The trees along roadways and the cemetery are also maintained to ensure the safety of drivers and pedestrians. ® Trails and pedestrian underpasses run throughout the community. • Westlake Academy, IOOF cemetery, and the town owned park, located in Glenwyck Farms, provide the facilities and space for recreational use to the public. These locations also host sporting events, facility rentals, Arbor Days, Bandana Bonanza, Christmas Tree Lighting and Decoration Day. Trends *The population growth, both permanent and daytime population, has increased the use of the park and trail system. ® The continuing drought condition requires consistent monitoring to help ensure we properly provide for the health of our landscaping on town owned properties. Staff works with our contractors to replace trees, install sod, and remove dead trees as necessary. • The 2014 annual Arbor Days event was held in the open space area on Roanoke Road and we partnered with TD Financial to plant 10 trees in the Town's open space. On April 26, 2014, the Town received its thirteenth (14th) Tree City USA award from the National Arbor Day Foundation. ® The Town prides itself on offering community stewardship opportunities to those within Westlake - to the benefit of our residents and those serving the surrounding communities. Such as those listed below: o Community Storehouse continues to lease the Academy buildings for three weeks in July to provide a reading camp for 1st and 2nd grade students of the surrounding communities. We are in our fifth year of this partnership. 142 GOALS AND OBJECTIVES Parks & Recreation o Ongoing opportunities are provided for Eagle Scout projects completed in the Cemetery. o Boy Scout Troop 170 continues to partner with the Town through the establishment of a wood lot adjacent to the Parchman property in exchange for cleaning up the cemetery and parks. ® In tandem with our CIP and partnership projects that include roadways, we are expanding our trail systems to promote 'walk -ability' and fulfill our strategic outcome objective of "Encourage Westlake's Unique Sense of Place" by connecting these systems for our residents and visitors. This trend is anticipated to be a priority for the future. Program Broad Goals • Provide park and common open spaces adequate in size and condition to serve our citizens. ® Use the park system to preserve and protect environmentally significant areas for public enjoyment and education. ® Maintain, secure and manage parks in a manner which encourages their appropriate use. • Maximize public/private partnerships to assist in all aspects of parks and recreation planning and development. 2013-2014 Highlights DID YOU KNOW "There are over 90 state parks within Texas — offering a look at wildlife along with hiking and educational opportunities." Texas Parks and Wildlife Department • One Eagle Scout project completed in the cemetery. ® Received 14th annual Tree City USA award. ® Meetings continue with Southlake, Keller, Roanoke, and Trophy Club relative to regional trail planning. ® Increased accessibility and connectivity with the completion of Dove / J.T. Ottinger Road improvements from Vaquero to Westlake Academy and within the FM 1938 streetscape project. Including the addition of sidewalk access along the west side of FM 1938. ® In the final stages of updating the Town's comprehensive plan and the element that contains the parks and trail systems. 2014-2015 Goals and Objectives • Continue to update the Town's Master Plan to include connecting the entire park system with a combination of pocket parks, neighborhood and community parks and Veloweb regional trail system. ® Work with Planning and Development to coordinate park land acquisition with long range growth and development planning. • Enhance and expand the linear park system along creeks and roadways. • Limit usage within environmentally sensitive areas to passive recreation. 143 Parks & Recreation • Continue updating existing parks & facilities standards and guidelines. ® Recognize and promote the concept that parks and recreation needs evolve over time with changes in the population. ® Design parks and open spaces that are durable, easily maintained and are not detrimental to surrounding uses. ® Utilize partnerships, wherever appropriate, to help develop, manage and maintain parks and recreation facilities. ® Seek new ways to involve communities and organizations in public finance strategies. • Accelerate park system improvements. ® Develop marketing strategies for the Westlake I.O.O.F Cemetery which will increase sales. Efficiency/Effectiveness Measures Objective Dove Road - 30 medians mowed, 1' fertilized and weed controlled Park - 5 field mows and 36 mows 2. around walkways and open spaces 3 I Other- annual tree trimming for road ways and park area GOALS AND OBJECTIVES Actual Actual Estimated Adopted Y11/12 I Y12/13 I FY 3/14 I FY 14/15 100% 100% 100% I 100% 100% 100% 100% 100% 100% 100% 100% 100% 144 This page is intentionally blank 145 Fund 100 General Fund Dept. No. 20 Information Technololgy Fiscal Year 2014/2015 (Employee Staffing Director Revenues Ah - General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income ota (Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay otal Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 I Estimated FY 11/12 0.50 0.50 0.25 0.25 0.25 0.25 1.00 1.00 22,828 2,212 1,944 1,623 14,530 20,792 $ 63,929 120,860 14,250 81,250 $ 216,360 26,429 26,429 2,380 2,380 2,116 2,116 1,943 1,943 0% 0% 14,250 14,250 27,250 27,250 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% $ 74,367 $ 74,367 120,860 14,250 81,250 $ 216,360 otal $ (63,929) $ (74,367) $ 1 $ (216,360) 191%1 -14199276% ,M, 357% 9443148% -100% -237997% -100% -211625% -100% -194250% 0% 0% 0% 0% 198% 5400000% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1917 141992767 otal $ (63,929) $ (74,367) $ 1 $ (216,360) 191%1 -14199276% ,M, Information Technology Department 20 PROGRAM BUDGET rtment DirectorlJason Power )artment Phone 817-490-5750 Program I Activity I Budget I Percent IT Operations 1 Information Technology Support $ 40,140 18.55% 2 PC Support 53,876 24.90% 3 Enterprise Support Systems 26,124 12.07% 4 Data Center 9,956 4.60% 5 Website Services 4,334 2.00% 6 $ 134,429 1 62.13% Network 1 1 WAN Operations $ 9,956 4.60% 2 Physical & Electronic Network Security 5,778 2.67% $ 15,733 7.27% Westlake Academy 1 Information Technology Support $ 16,381 7.57% 2 PC Support 1,606 0.74% 3 Enterprise Support Systems 28,199 13.03% 4 Data Center 6,584 3.04% 5 Website Services 667 0.31% 6 WAN Operations 6,584 3.04% 7 Physical & Electronic Network Security 6,178 2.86% $ 66,198 30.60% $ 216,360 100% 147 GOALS AND OBJECTIVES Information Technology Strategic Theme & Objective(s) ® Theme Exemplary Service & Governance Exemplary Education Westlake Academy ® Objective(s) Improve Technology, Facilities, & Equipment Program Description ® Information Technology works with the Town Manager to establish IT policy, evaluate and recommend technology solutions for specific departmental needs and provide administrative support to network infrastructure, systems, and staff. Trends \�J 0 0 0 0 W -A Information Technology is in a state of perpetual change, and policies, strategies, and system implementation must accommodate these realities. Network/system security requires ongoing analysis and adjustments to meet emerging threats. Equipment must be updated to remain reliable and secure. Data communication links between locations require evaluation of alternate information storage and backup process to ensure optimal performance. Service demands of internal and external customers continue to increase exponentially each year. The number of devices and staff the IT department supports has increased more than 500% in the past five years (from approximately 300 devices total in 2009 to over 2000 devices in 2014) while the number of IT staff has increased 33.3% (from 1.5 in 2009 to 2 in 2012). The number of overall FTE (does not include part-time/temporary positions) staff supported by the IT Department has also increased 50% in the past five years (from 89 employees in 2009 to 133 employees in 2014). Program Broad Goals • Provide support to all Town departments (both municipal and academic) through the design, deployment, and maintenance of systems to support departmental objectives. ® Provide systems administration by maintaining IT systems with prudent provisions for security, data archiving, and disaster recovery. GOALS AND OBJECTIVES Information Technologymonsoon 2013-2014 Highlights Overall: • Reduced costs by keeping outsourced technical services to a minimum. ® Successful and timely resolutions to over 500 IT -related incidents and requests reported through our SchoolDude tracking system since May 2013. Academy: ® Replaced 1 1 -year-old network switches with current generation hardware to compensate for increased number of network activity on campus and provide improved security and maintenance. ® Installed 12 additional wireless access points across campus to support increased number of devices on network and our 1 -to - 1 initiative. • Upgraded Internet service to Academy from 50Mbps to 150Mbps to support our 1 -to -1 initiative. ® Successfully implemented our first phase of 1 -to -1 iPad mini's which includes 170 iPad Mini's and 8 AppleTV's (for wireless projection) for G4 -G6. ® Installed 3 SMART Boards with short -throw projectors for G4 -G6. ® Upgraded printing/copying/scanning hardware capabilities for staff and students. Town Hall / Municipal Court: Upgraded network router and switch at Town hall to support greater capacity Upgraded wireless network to support greater speed and capacity 4 Desktop computer replacements/upgrades Fire Department: ® Network router and wireless network upgrades 2014-2015 Goals and Objectives DID YOU KNOW That passwords are like underwear? * Don't leave them lying around... * Change them regularly... * Don't share them with your friends ... and * The longer the better. ® Perform on-going security assessments to validate the efficacy of existing measures and to evaluate and deploy solutions for new threats. ® Identify and implement additional information technologies to improve the efficiency and/or security of business processes. ® Identify and implement additional information technologies to improve transparency to our citizens, stakeholders, and students. 149 GOALS AND OBJECTIVES Information Technology ® Continue to reduce costs through the use of internal staff and third -party vendors. ® Continue to simplify our network where possible while maintaining the highest levels of security, reliability, and functionality for system users. ® Expand the effective use of technology in the classroom to maximize each child's learning potential. ® Explore and implement additional systems to enhance services provided to external customers. Efficiency/Effectiveness Measures 150 Actual Actual EstimatedAdopted Objective Network connectivity and telephone FY11/12 FY 12/13 FYI 3/14 FY14/15 1 99.6% 99.7% 99.8% 99.8% functionality at or above 99.5% Response to all service requests with 24 2 99.5% 99.5% 99.5% 99.5% hours at or above 99% 3. Present 5 -year technology plan N/A N/A Jan 2014 Jan 2015 150 This page is intentionally blank 151 Fund 100 General Fund Dept. No. 21 Human Resources Fiscal Year 2014/2015 Employee Staffirt Director Administrative Assistant Part Time Clerk HR Generalist General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Total Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 0.75 0.33 1.08 33% 0.25 0% - 0% 100% 14% 0.25 101,062 8,619 7,928 6,293 (5,051) 960 6,004 $ 125,8 $ (125,815) 1 $ (156,156) $ (156,156) 1 $ (218,T . 4076 $ (62,583) 152 PROGRAM BUDGET Human Resources & Administrative Services Department 21 Department DirectorF+-Todd Wood Department Phone 817-490-5711 Program I Activity Budget I Percent Human Resources Administration 1 1 I 2 3 Administrative Support Services Employee Records Payroll $ 10,593 3,026 6,052 4.84% 1.38% 2.77% Total Compensation 1 Compensation and Classification $ 19,671 $ 3,026 1 8.99% 1.38% 20,157 2 Benefits Management 3,026 1.38% Risk Management Benefits Management $ 6,052 2.77% 6 1 Property & Casulty Insurance Management $ 10,094 4.61% Worker's Compensation 2 Worker's Compensation 1,513 0.69% 5,039 3 Loss Prevention 1,133 0.52% Employment Services Recruitment and Placement $ 12,740 5.82% 11 1 Employment Application Services $ 5,040 2.30% $ 2 Recruitment and Placement 2,270 1.04% 3 Employee Skills Development 2,270 1.04% Westlake Academy Foundation $ 9,581 4.38% 1 Fundaising Support $ 757 0.35% 2 Employment services 378 0.17% 3 General Administrative Support 757 0.35% Westlake Academv $ 1,893 0.87% 1 Administrative Support Services $ 40,312 18.43% 2 Employee Records 20,157 9.21% 3 Payroll 20,157 9.21% 4 Compensation and Classification 15,116 6.91% 5 Benefits Management 20,157 9.21% 6 Property & Casulty Insurance Management 7,559 3.46% 7 Worker's Compensation 2,520 1.15% 8 Loss Prevention 5,039 2.30% 9 Employment Application Services 15,116 6.91% 10 Recruitment and Placement 17,637 8.06% 11 Employee Skills Development 5,036 1 2.30% $ 168,804 1 77.17% $ 218,740 100% 153 GOALS AND OBJECTIVES Human Resources & Administrative Services Strategic Vision Points o Service Excellence Program Description • The HR/Administrative Services Department provides a diverse array of services to internal and external customers, as well as providing support to the organization's general operations. • These services include all HR functions, General Administrative Services, Recruiting & Hiring, Payroll Processing, Benefits Administration, Policy Compliance, and Risk Management. Support is offered in partnership with other departments for bidding & purchasing, strategic planning, policy development, general administration, and finance. • In addition to providing these services to the Town of Westlake, the department continues to successfully support Westlake Academy through our shared services model. • The Department also provides support services, as needed, to all other Town Departments, the Westlake Academy Foundation, Westlake Historical Preservation Society, and the Westlake Public Art Committee. Trends • Continued growth of Town and Academy staff, resulting in higher annual administrative service demands, as well as expanded responsibilities in the areas of Human Resources, Risk Management, and Benefits Administration. • Exposure to dramatic increases in the cost of employee benefits. • Volatile economic conditions combined with reduction in state school funding continue to create challenges in maintaining competitive employee compensation packages. • New federal and state laws result in ongoing compliance challenges, resulting in constant change of Human Resources best practices. Program Broad Goals • Continually monitor the external business environment for trends and issues related to compensation and benefits and make recommendations to maintain competitive and motivated work force. • Administer guidance and support for policy compliance to all Departments. • Continually research, recommend and implement strategic organizational improvements. • Develop and implement effective policies, procedures, and guidelines in support of the organization's stated mission, vision, values, goals, and objectives. • Ensure compliance with pertinent laws and best practices through continual and proactive monitoring of the organization's work processes and procedures. 154 GOALS AND OBJECTIVES Human Resources & Administrative Services • Reduce exposure to liability and property losses through identification of potential vulnerabilities, employee training, and implementation of policies and procedures to reflect best practices. • Maintain affordable and competitive insurance policies through a comprehensive bidding process. • Recruit and retain the highest quality employees to sustain excellent customer service reflective of a High -Performance Organization (HPO). 2013-2014 Highlights • Processed all payroll, benefit transactions, and regulatory filings in a timely manner. • Facilitated all tasks and procedures pertaining to Risk Management, in response to the organization's required service demands due to property loss. o Completed updates to the Town and Academy's personnel manuals with additional and amended policies. • Facilitated the recruiting and/or onboarding process of 73 full- time and part-time employees for the Town and Westlake Academy. • Facilitated the Executive Principal search in cooperation with the Superintendent's office and an executive recruiting firm. • Implemented an online employee application and tracking system for Westlake Academy. • Launched a web -based employee timekeeping and attendance tracking system for Westlake Academy. • Researched and identified additional employee benefits at no cost to the Town. • Began development of a municipal employee web portal for access to attendance and payroll data. • Completed SPHR and IPMA-CP recertification. 2014-2015 Goals and Objectives DID YOU KNOW The amount of applications the HR Department receives equals 50-75% of Westlake's residential population on an annual basis. • Implement a comprehensive municipal employee compensation plan in cooperation with the Leadership Team and independent consulting firm. • Implement a new employee performance evaluation instrument and establish completion timeframes to enhance employee performance and development. • Complete a comprehensive risk assessment on all areas affects by potential property, liability, or worker's compensation losses. • Complete the implementation of an electronic employee absence request and attendance tracking system for municipal employees. • Develop a performance pay component to complement the current teacher compensation system, including analysis of and improvements of current stipend and extra -duty payment practices in cooperation with the Westlake Academy LEAD Team. 155 GOALS AND OBJECTIVES Human Resources & Administrative Services Efficiency/Effectiveness Measures 156 Actual Actual Estimated Adopted Objective FY11/12 FY 12/13 FYI 3/14 FY14/15 Review need for policy Semi- Semi - 1. amendments, additions, and Semi -Annually Semi -Annually Annually Annually deletions Development and implementation of a 2 N/A N/A N/A June 2015 comprehensive compensation plan for the Town of Westlake Research and development of a 3. performance pay component for N/A N/A N/A April 2015 Westlake Academy teachers. Time to fill vacant positions in 45 4 N/A N/A N/A Quarterly days or less at or above 90% All positions analyzed by actual job duty and 5 development of comprehensive N/A N/A N/A June 2015 descriptions Implementationof a timekeeping L and attendance tracking system N/A N/A N/A March 2015 for municipal employees 156 This page is intentionally blank 157 Fund 100 General Fund Dept. No. 22 Communications & Community Affairs Fiscal Year 2014/2015 Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget I vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/1 Ll General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expendit Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Total 80,585 9,807 6,020 5,380 (92,827) 839 4,381 157,647 14,684 9,837 12,436 (194,605) 4,500 9,520 14,020 ik- 81,188 81,188 10,784 10,784 6,528 6,528 5,967 5,967 (104,467) (104,467) 2,250 2,250 10,770 10,770 0% - 0% - 0% - 0% - 0% - 01111111111111111110-.020 $ 13,020 157,647 14,684 9,837 12,436 (194,605) 4,500 9,520 14,020 Net (13,020) $ (13,020) 1 $ (14,020) 1 8% $ (1,000) w ik- 94% 76,459 36% 3,901 51% 3,309 108% 6,469 86% (90,137) 100% 2,250 -12% (1,250) 0% - 0% - 0% - 0% - 0% - 8% $ 1,000 Net (13,020) $ (13,020) 1 $ (14,020) 1 8% $ (1,000) w PROGRAM BUDGET Communications and Community Affairs Department 22 Department Director Ginger Awtry Department Phone 817-490-5719 Program Activity Budget I Percent Municipal Governance 1 Policy Development, Council Meetings and Workshops $ 701 1 5.00% $ 701 1 5.00% Academic Governance 1 Policy Development, Board Meetings and Workshops 421 1 3.00% $ 421 1 3.00% Comprehensive Planning and Economic Develo 1 2 3 Financial Ma F -17 - Municipal Administration Development Recruiting and Assistance $ 280 2.00% Development Oversight and Regulation 140 1.00% Development Agreement Oversight 140 1.00% Agenda Preparation and Calendar Maintenance $ 561 4.00% Managing and Budgeting for Outcomes $ 561 1 4.00% 4.00% $ 561 1 4.00% 1 Departmental Coordination and Employee Management $ 701 5.00% 2 Contract Management 280 2.00% 2 Agenda Preparation and Calendar Maintenance 421 3.00% 3 Strategic Plan Development and Implementation 561 4.00% 4 Professional Development 561 4.00% 5 Direction of Leadership Team 421 3.00% 6 Affiliate Board Liaison and Support 561 1 5.00% $ 3,505 1 26.00% Academic Administration 1 Departmental Coordination and Employee Management $ 280 2.00% 2 Financial Management and Budget Preparation 280 2.00% 3 Agenda Preparation and Calendar Maintenance 280 2.00% 4 Strategic Plan Development and Implementation 140 1.00% 5 Organizational Development 280 2.00% 6 Parent and Student Communication 561 4.00% 7 Affiliate Board Liaison and Support 2802.00% $ 2,103 15.00% Citizen Engagement and Communication 1 Communication $ 3,084 22.00% 2 Neighborhood Gatherings and Outreach 1,402 10.00% 3 Community Activities 1,402 10.00% 4 Direction Finders and Other Surveys 280 1.00% $ 6,169 43.00% $ 14,020 100% 159 GOALS AND OBJECTIVES Communications & Community Affairs Strategic Theme & Objectives (s) ® Theme Exemplary Service & Governance ® Objective(s) Increase Transparency, Accessibility, & Communications Program Description ® The department of Communications & Community Affairs is responsible for leadership and representation on matters related to Town (both municipal and academic) services' communications, promotion, and citizen/parent engagement. • The Director position has senior level management duties and reports to the Town Manager. The position coordinates facilitation of neighborhood and WA parent meetings, publication of our email blasts, advertising, web site development, various community events and gatherings, social media, serves/supports our local chambers of commerce at meetings and events, assists in various economic development efforts for the Town, and serves/supports the Westlake Historical Preservation Society as Town liaison. Trends ® Over the past several years, DirectionFinders Survey results show an approximate approval rate average of 74% for overall satisfaction concerning the Town's communication effectiveness. • Survey results taken from the bi-annual Westlake Academy Parents demonstrated an approximate approval rate of 78% regarding the quality of communication received from the Academy; a 20% increase over the last two years. ® With the newly launched municipal social media platform, benchmarks can now be set to monitor the growth and exposure that our increased efforts will have in our organization. • Advertising and events in major local and social publications/websites on state level and in DFW publications continue to increase this year. For the upcoming 2014-15 FY, plans are to being formulated to raise and/or maintain awareness and knowledge about Town of Westlake and Westlake Academy on the international level. Program Broad Goals • Continue to develop key relationships with community affairs and public information strategies and programs designed to inform and engage residents, parents, all Town/Academy employees, media contacts and members of the business community in order to increase awareness and promotion of both Town and Academy. ® Increase the review and consistency of information on the municipal and academic websites for relevant data and work with respective Department Directors as it relates to content development; Serve as primary contact for municipal website updates. .M GOALS AND OBJECTIVES Communications & Community Affairs ® Continually review internal procedures for Westlake Academy employees to include and submit information to the department in order to improve visibility and promote awareness of accomplishments and events; including the scheduling of regular meetings with Academy personnel to share student achievements. ® Develop, implement, and collaborate on strategic plans, programs, tactics and initiatives related to all Town and Academy communication, promotion, public information and citizen/parent engagement to build sense of community and community -mindedness with multiple target audiences, including, but not limited to, Town residents, Academy parents, Town/Academy employees, students, alumni, area businesses, development interests, and other support groups. ® Serves as primary contact/Town representative to local chambers of commerce and provide support including attendance at meetings, events, etc. to increase knowledge of Westlake community while building relationships. o Serves as liaison to the Westlake Historical Preservation Society; attend board meetings and provide support when possible, and help organize community events and promotion. 2013-2014 Highlights ® Completed first year of community publication entitled Simply Westlake - a social newsletter in a monthly magazine format; increased the number of resident contributors/desire to participate, addition of new columns and new advertisers, with growth in content relevance- all demonstrating a perceived improvement of our citizen's knowledge about their town's neighbors, government, and caring sense of place. ® Launched municipal Facebook and Twitter social media sites, set benchmarks, and began tracking growth and exposure for all Town social media. • Hosted and coordinated our 5t" annual graduation ceremony for Westlake Academy at the Hurst Convention Center with nationally known guest speaker. ® Hired part-time communications specialist to help manage various departmental duties including the municipal social media, Town websites and Town press relations, and events as needed. DID YOU KNOW Westlake added a Communications Specialist to help strengthen its mission of continuous improvement in communication efforts, accessibility, and transparency, adding to its unique sense of place. ® Worked proactively and strengthened relationships with police personnel to promote external town communications with residents regarding burglary incidents in a timely and succinct manner, including available safety programs and services. ® Increased methods of communication regarding zoning and development with external signage, mail -outs, and media coverage while improving timeliness and quality of information provided to residents, including consistent emails providing meeting recaps for both municipal and academy meetings. In GOALS AND OBJECTIVES Communications & Community Affairs ® Attended first 3CMA conference, a national organization for city and county communication professionals, learning best practices to increase citizens' satisfaction with communication, community relations, and engagement. • Began TCU post graduate course to become a Certified Public Communicator, completing first 40 hours of 96 hour program, and began framework for Town's first communication plan. 2014-2015 Goals and Objectives • Continue improvement and awareness efforts regarding communication and citizen engagement to increase our sense of community for target audiences relative to Town events, volunteer opportunities, quality of life issues, knowledge of town government and amenities in Westlake, including educational benefits from Westlake Academy. ® Continue and improve annual resident and school -parent meetings to increase citizen/parent engagement, support, and open/transparent lines of communication. • Monitor benchmarks for new municipal social media and on-going academic social media; review growth and engagement efforts; report results at least quarterly to Town Manager and Council. ® Collaborate with IT Director, WA Executive Principal and designees, to complete pre- planning efforts for implementation of new academic website in coming year(s). • Increase number of opportunities and meetings with various stakeholders to discuss areas of continuous improvement in communication and community affairs. ® Continue to attend at least two related professional development organizational conferences and/or training seminars; share information with other staff members to improve internal and external communication ® Director to Complete TCU, Bob Schieffer College of Communication, professional certification program to become a Certified Public Communicator which also results in a communication plan outline for our organization. Efficiency/Effectiveness Measures Performance Measure Actual Actual Estimated Adopted FY11/12 FY12/13 FYI 3/14 FY14/15 1 Update all printed publications for the Town on an 100% 100% 75% 100% annual basis Coordinate and schedule four neighborhood 2. meetings, new resident and new parent meetings, 100% 100% 100% 100% and one extended boundary parent mee 3 Draft and distribute a minimum of 12 resident 100%I 100% 100% 100% email blasts per year and one electronic Westlake 162 This page is intentionally blank 163 Fund 100 General Fund Dept No. 23 Police Services Fiscal Year 2014/2015 Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/1 Revenues General Sales Tax Property Tax Hotel Tax Charges for Services Contributions Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Misc Income Total Expenditures Payroll Wages Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers In Supplies Services Insurance Maintenance Rent & Utilities E/D Incentives Capital Outlay Total Ali 785,204 785,204 Net $ (785,204) 1 $ (825,745) $ (825,745) 1 $ (868,161) 1 570 $ (42,416) 164 Police Services Department 23 PROGRAM BUDGET Keller Police Department (Contract Services) Chief Hafner Department Phone 817-743-4501 Program Activity Budget Percent Police Services Police Servicesl $ 868,161 1 100.00% $ 868,161 1 100.00% $ 868,161 100% Police Services Strategic Theme & Objective(s) ® Theme Exemplary Service & Governance • Objective(s) Preserve Desirability & Quality of Life Program Description The Keller Police Department provides law enforcement services for the Town of Westlake. In June of 2002, the communities entered into an interlocal agreement, which would benefit both organizations through the provision of police related services for the Westlake citizens and bring additional staff resources via the contract commitments for the City of Keller. • The police department was accredited through the Commission on Accreditation for Law Enforcement Agencies (CALEA) in July of 2006. Only 2% of police departments in the United States ever achieve this recognition. The police department also received Texas Law Enforcement Best Practices Recognition in 2013 making it the only municipal police agency in Texas that is dual accredited. • Jail, Emergency Communications, and Animal Services are provided through a regional configuration - serving the communities, of Westlake, Keller, Roanoke, Southlake and Colleyville. GOALS AND OBJECTIVES Trends ® Westlake experienced only 9, Part 1 Crimes in 2013 the lowest amount of reported crime activity in over a decade. • The frequency and severity of motor vehicle collisions on the streets within the Town remains a priority for the police department and they continue to monitor traffic enforcement to maintain the lowest possible number of injuries and accidents. ® Over the course of our service provision arrangement and as the community has grown, we have experienced a corresponding increase in our service levels: o Citizen calls have increased approximately 150% (1,200 in 2003 to 3,000 in 2013) o Animal control calls have increased approximately 323% (27 in 2002 to 114 in 2013) ® School security and the safety of the students at Westlake Academy also remains a high priority and the department has been working with Academy staff to take steps to improve school security. Police Services Program Broad Goals GOALS AND OBJECTIVES ® Deliver the highest quality of police services to the Town of Westlake with a fully staffed and equipped Nationally and State Accredited agency. ® Continue to develop and maintain personal relationships with our partners - including, residents/stakeholders within the community, Westlake staff members, and surrounding municipalities. 2013-2014 Highlights ® Experienced the lowest number of Part 1 reported crimes in over a decade. ® The Campus Patrol Program increased police presence at the school on a daily basis. ® Utilized social media to improve traffic safety. • Attended several neighborhood meetings with staff. ® Provided K-9 drug prevention services to corporate campuses. 2014-2015 Goals and Objectives DID YOU KNOW Did you know the Keller Police Department is currently the only municipal police agency in the state to be both state and nationally accredited. ® Continue an emphasis on school security and safety with the Campus Patrol Program. ® Attend neighborhood meetings with elected officials and staff. ® Assess and monitor traffic safety on the newly improved roadways. • Work with developers to prevent thefts at construction sites. ® Continue to provide Crime Prevention material through the Director of Communication and Community Affairs. • Continue to be proactive and highly responsive to the corporate campuses in Westlake. Efficiency/Effectiveness Measures 167 -T Actual Actual Estimated Adopted Objective Traffic Enforcement Stops FY 11/12 FY 12/13 FY 13/14 9,993 10,200 FY 14/15 1. 12,221 10,600 Respond to Citizen Calls for 2 Service 2,959 3,125 3,250 3,400 3. Part 1 Reported Crime 39 9 23 20 4. Fire/EMS Calls Dispatched 445 529 450 500 167 4B ECONOMIC DEVELOPMENT FUND r, , -:�� - N" _ L KITY ,a vAvrjA?# 1.. `Sri- t 7'0 ` fJ 1' TED- --2014 t� VALUES VISION MISSION STRATEGY TOWN 0F WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE, TEXAS 76262 -1 IhIt 4Al.t ESTLAKE-Ti ORG 413 Economic Development Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Donations Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Other Sources Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY is/15 Actual Budget Budget Budget Vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 EXCESS REVENUES OVER(UNDER) EXPENDITURES (178,384) - - 07. - FUND BALANCE, BEGINNING 178,384 - - - 0% - FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds - - - - 0% - UNASSIGNED FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds A Cash 200 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS •W ss ss rr rr rr EXCESS REVENUES OVER(UNDER) EXPENDITURES (178,384) - - 07. - FUND BALANCE, BEGINNING 178,384 - - - 0% - FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds - - - - 0% - UNASSIGNED FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds A Cash 200 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS •W rr rr rr rr r� rr EXCESS REVENUES OVER(UNDER) EXPENDITURES (178,384) - - 07. - FUND BALANCE, BEGINNING 178,384 - - - 0% - FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds - - - - 0% - UNASSIGNED FUND BALANCE, ENDING 0% Restricted/Assigned/Committed Funds A Cash 200 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS •W FUND OVERVIEW 4B ECONOMIC DEVELOPMENT FUND The 4B Economic Development Fund collects a'/2 cent sales tax to be allocated to qualified development projects. The 4B Fund has been committed to the repayment of the debt incurred for the Town's Civic Campus project. Revenues • FY 14/15 revenues are budgeted to be $1,159,250 o A 3% increase of $33,750 from the FY 13/14 estimated budget of $1,125,500 Expenditures and Other Uses • Transfers out to the Debt Service Fund for FY 14/15 are budgeted to be $1,159,250 representing 100% of revenues 170 This page is intentionally blank 171 E ECONOMIC ELOPMENT FUND �rt isSITY '� r, iP`iF 1�'. PIM•. '� , Y CL �TEImot 0 v 09-22-2014 - ALS %,moil VALUES VISION MISSION STRATEGY a THE TOWN OF WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE,TEKAS 76262 * YWYWYW.WESTLAKE-MORG Economic Development Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Economic Development Incentives Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 219,600 41,207 260,807 35,758 35,758 296,565 296,565 296,565 296,565 296,565 100,000 70,000 440,000 610,000 35,758 35,758 645,758 205,758 205,758 205,758 440,000 440,000 645,758 0% 0% 0% 0% 0% 0% 0% 0% 0% 100% 440,000 0% 2597. 440,000 0% - 0% - 214% 440,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 100% 440,000 100% 440,000 2147. 440,000 EXCESS REVENUES OVER(UNDER) EXPENDITURES 07. FUND BALANCE, BEGINNING - - - - 0% - FUND BALANCE, ENDING - - - - 07. - Restricted/Assigned/Committed Funds 0% UNASSIGNED FUND BALANCE, ENDING - - - 0% - Restricted/Assigned/Committed Funds A Cash 210 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUND 173 150,000 100,000 70,000 150,000 170,000 35,758 35,758 35,758 35,758 185,758 205,758 100,000 70,000 440,000 610,000 35,758 35,758 645,758 205,758 205,758 205,758 440,000 440,000 645,758 0% 0% 0% 0% 0% 0% 0% 0% 0% 100% 440,000 0% 2597. 440,000 0% - 0% - 214% 440,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 100% 440,000 100% 440,000 2147. 440,000 EXCESS REVENUES OVER(UNDER) EXPENDITURES 07. FUND BALANCE, BEGINNING - - - - 0% - FUND BALANCE, ENDING - - - - 07. - Restricted/Assigned/Committed Funds 0% UNASSIGNED FUND BALANCE, ENDING - - - 0% - Restricted/Assigned/Committed Funds A Cash 210 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUND 173 FUND OVERVIEW ECONOMIC DEVELOPMENT FUND The Economic Development Fund was set up to maintain all receipts and disbursement of funds pertaining to agreements between the Town and various corporations for economic development. There was confusion regarding the additional revenues being recorded in the General Fund and offset by expenditures. These balances offset to zero but skewed the analysis of each. The Town is hoping this fund will bring more transparency to the public regarding these receipts and payments. Fidelity (Phase 1) - regarding this agreement a schedule has been set up to repay $35,758 annually thru fiscal year 15-16. Deloitte's agreement includes a 50% reimbursement of sales general tax receipts and hotel/motel tax receipts. Agreement with Maguire Partners -Solana LP includes a $10,000 contribution for the benefit of Westlake Academy from the final platting of lots in Granada residential subdivision. Revenues and Transfers In • Total revenues for FY 2014-15 are anticipated to be $610,000 o $100,000 sales tax from Deloitte University o $ 70,000 hotel/motel tax from Deloitte University o $ 35,758 transfer in from General Fund for the payment to Fidelity (Phase 1) o $440,000 contribution from Maguire Partners -Solana LP for the expected final platting of 44 lots (Phase 1) of Granada residential subdivision. Expenditures and Transfers Out • Total expenditures for FY 2014-15 are $205,758 o Transfers out to Westlake Academy Expansion Fund of $440,000 for future use 174 This page is intentionally blank 175 LONE STAR PUBLIC FACILITIES FUND 1.4wSITY r "1 ? w} may, • �� �. i ■ 16 J •!y `ham • • - .,1 i4 {+itIL i CL ADOPTEDAvon w- VALUES09.22-2014 'Moil, VISION- MISSION STRATEGYMEN THE To wN OF WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE,TEXAs 76262 * WWW.WESTLAKE-T)CORG ri . w0 Lone Star Public Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Donations Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURS Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated AdoptedAdopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 24 24 24 45 45 45 EXCESS REVENUES OVER(UNDER) EXPENDITURES 24 45 1 07. FUND BALANCE, BEGINNING 13,576 13,599 13,599 13,644 FUND BALANCE, ENDING 13,599 13,644 13,644 13,689 Restricted/Assigned/Committed Funds 13,599 13,644 13,644 13,689 UNASSIGNED FUND BALANCE, ENDING - - - Restricted/Assigned/Committed Funds A Cash 418 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUN 177 13,644 13,644 0% 45 0% 45 0% 45 0% 45 45 45 45 45 45 45 45 45 45 EXCESS REVENUES OVER(UNDER) EXPENDITURES 24 45 1 07. FUND BALANCE, BEGINNING 13,576 13,599 13,599 13,644 FUND BALANCE, ENDING 13,599 13,644 13,644 13,689 Restricted/Assigned/Committed Funds 13,599 13,644 13,644 13,689 UNASSIGNED FUND BALANCE, ENDING - - - Restricted/Assigned/Committed Funds A Cash 418 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUN 177 13,644 13,644 0% 45 0% 45 0% 45 0% 45 TND OVERVIEW LONE STAR PUBLIC FACILITIES FUND This fund was set up initially with donations from several involved corporations that were going to benefit from tax-exempt bonds. The Lone Star Public Facilities Corporation was founded in 1996 and was designed "to provide for the acquisition, construction, rehabilitation, repair, equipping, furnishing and placement in service of public facilities in an orderly, planned manner and at the lowest possible borrowing costs." The ideas was to "acquire, through the issuance of installment sale obligations, office buildings, located within the State of Texas but outside the boundaries of Westlake, whose tenants will be limited to those entities which are qualifying tenants under applicable federal income tax law so the interest payable with respect to the installment sale obligations will be exempt from federal income taxation." No bonds were ever issued. The fund is earning interest annually. Revenues • Total revenues for FY 2014-15 are $45 in interest earnings. Expenditures There have been no expenditures from this fund since inception. IM This page is intentionally blank 179 Fm w 0 z NEW. -A w CL X z z VISITORS ASSOCIATION �..A FUND .4. koillilTY AOk m i 4lik f e_C)FL4 ADOPTED -4i,%f 09-22-2014 4'A ki VISION - MISSION STRATEGY THE TowN OF WESTLAKE * 3 VILLAU CIRCLL 3#202 * WESTLAKE, TEXAS 76262 * WWWNESTLAKE-MORG Visitors Association Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income arbor whps wpas Total Revenues Transfers In Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURS & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget Vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 668,371 1,828 16,575 686,774 255,225 255,225 25,158.49 204,745 36,390 266,294 521,519 191,162 191,162 712,681 707,000 2,900 18,650 728,550 728,550 457,110 457,110 4,155 209,224 36,435 249,814 706,934- 177,670 177,670 884,594 0% 0% 1% 7,000 0% - 0% 0% 0% 0% 0% 0% 0% 1% 7,000 0% 0% -15% 0% 8% 0% -19% 700,000 700,000 0% - 286,107 286,107 286,107 286,107 4,080 2,905 208,430 201,982 2,900 2,900 0% 18,650 18,650 721,550 721,550 0% - 248,945 241,322 721,550 721,550 707,000 2,900 18,650 728,550 728,550 457,110 457,110 4,155 209,224 36,435 249,814 706,934- 177,670 177,670 884,594 0% 0% 1% 7,000 0% - 0% 0% 0% 0% 0% 0% 0% 1% 7,000 0% 0% -15% 0% 8% 0% -19% 0% -36% 0% - 286,107 286,107 286,107 286,107 4,080 2,905 208,430 201,982 0% - 0% 36,435 36,435 0% 0% - 248,945 241,322 0% - 0% 0% 535,052 527,429 164,720 164,720 164,720 164,720 699,772 692,149 707,000 2,900 18,650 728,550 728,550 457,110 457,110 4,155 209,224 36,435 249,814 706,934- 177,670 177,670 884,594 0% 0% 1% 7,000 0% - 0% 0% 0% 0% 0% 0% 0% 1% 7,000 0% 0% EXCESS REVENUES OVER(UNDER) EXPENDITURES (25,908) 21,778 1 29,401 (156,044) I -631% (185,445) FUND BALANCE, BEGINNING 1,052,547 1,026,639 1,026,639 1,056,040 FUND BALANCE, ENDING 1,026,639 1,048,417 1,056,040 899,996 Restricted/Assigned/Committed Funds 182,143 151,700 151,700 164,450 UNASSIGNED FUND BALANCE, ENDING 844,496 896,717 904,340 735,546 # Days Operating 433 468 477 304 Res DebtI Sericen Paymemmltted Funds nts 1182 1431 151,700 1 151,700 164,450 TOTAL RESTRICTED/ASSIGNED/COMMITED FUND:' ® Jj6 1 L 151,700 I I 164,450 ME 3% 29,401 -15% 0% 8% 0% -19% 0% -36% 0% - 60%1 171,003 607. 171,003 43% 1,250 4% 7,242 0% - 0% 0% 0% 0% - 4% 8,492 0% - 0% 0% t. 8% 12,950 8% 12,950 27.80% 192,445 EXCESS REVENUES OVER(UNDER) EXPENDITURES (25,908) 21,778 1 29,401 (156,044) I -631% (185,445) FUND BALANCE, BEGINNING 1,052,547 1,026,639 1,026,639 1,056,040 FUND BALANCE, ENDING 1,026,639 1,048,417 1,056,040 899,996 Restricted/Assigned/Committed Funds 182,143 151,700 151,700 164,450 UNASSIGNED FUND BALANCE, ENDING 844,496 896,717 904,340 735,546 # Days Operating 433 468 477 304 Res DebtI Sericen Paymemmltted Funds nts 1182 1431 151,700 1 151,700 164,450 TOTAL RESTRICTED/ASSIGNED/COMMITED FUND:' ® Jj6 1 L 151,700 I I 164,450 ME 3% 29,401 -15% (156,044) 8% 12,750 -19% (168,794) -36% (173) 12,750 FUND OVERVIEW VISITORS ASSOCIATION FUND The Visitors Association Fund was established in late FY 1999-2000 and collects a 7% hotel occupancy tax from the Marriott Solana and any future Westlake hotels. A new program in partnership with the Marriott to operate a shuttle service which delivers and returns Marriott visitors to DFW Airport as well as other local venues was launched in FY 2004-05. Included in subsequent economic development agreement is a "Group Business Incentive" program. Following are the terms of this program: • Proposed group business shall book a minimum of $10,000 in room night revenue • A maximum of $5,000 is available to each group; however, the amount provided is based on the following process: 0 10% of the room night revenue calculates the amount allowed, up to a maximum of $5,000 o The Town of Westlake shall receive sponsor recognition in all correspondence and at the meeting/convention in an appropriate manner. Hotel Occupancy Taxes are allocated to this fund and obtained through the assessment of a 7% hotel occupancy tax. Authority granted by the State of Texas allows cities to levy a tax not to exceed 7% of the rental rate for a hotel/motel room. Funds generated by the occupancy tax may be used in a manner that directly enhances and promotes tourism and the convention and hotel industry. Additionally, because Westlake has broader statutory authority under State law than most cities to spend hotel/motel occupancy tax funds for any municipal purpose, the Town has used these funds to cover costs of various municipal operational costs and capital projects (an example would be payment of a portion of the debt service for Westlake Academy related bonds). Revenues • Total revenues for FY 2014-15 are budgeted to be $728,550 • Hotel Tax revenues are projected to increase one percent ($7,000) when compared to FY 2013-14 estimated revenues. Expenditures and Transfers Out • Total expenditures and transfers out for FY 2014-15 are budgeted to be $884,594 • This represents a 27% increase of $192,445 from the FY 2013-14 estimated expenditures. o Transfers Out to Debt Service increased by $12,750. Series 2013 General Obligation Refunding bonds. For the refunding of series 2008 bonds related to the Arts and Sciences Center construction. The Town took advantage of the low interest rates and refunded a portion of the 2003 Certificates of Obligation (CO) which reduced our overall payments; saving the Town approximately $15K annually. The principal payment of the refunded CO's was rolled into the refunding; therefore, no principal payment was made in FY 2013-14. o Services increased $8,492 - FY 2013-14 Arbor Day event was decreased in scope but plans are being made for a different type of event for FY 2014-15. o Payroll transfers out to the General Fund increased $171,000 due to the 3% increase for personnel as well as transitioning a part-time Communication Specialist to full time with 100% of the salary being paid from the Visitors Association. Fund Balance 0 FY 2014-15 ending fund balance is projected to be $899,996. low Visitors Association Fund Department Director Ginger Awtry Department Phone 1817.490.5719 PROGRAM BUDGET Program I Activity I Budget I Percent Mun icipal Administration 112,364 12.70% 2 Neighborhood Gatherings & Outreach 1 Support Services - Administrative 10,028 1.13% 2 Support Services - Facilities Maintenance 240 0.03% 3 Support Services - Human Resources 6,113 0.69% 4 Contract Management 88,070 9.96% 5 Affiliate Board Liaison & Support 240 0.03% $ 104,690 11.83% Citizen Communication & Engagement 1 Communication 112,364 12.70% 2 Neighborhood Gatherings & Outreach 110 0.01% 3 Community Activities 12,155 1.37% 4 Direction Finders and Other Surveys - 0.00% $ 124,629 14.09% Accounting Services - Municipal 1 Accounts Payable 2,291 0.26% 2 Accounts Receivable 2,291 0.26% 3 Payroll 2,291 0.26% 4 Financial Reporting 9,041 1.02% 5 Cash & Investment Management 2,291 0.26% 6 Budget Programi 637,071 72.02% $ 655,275 74.08% $ 884,594 1 100.00% DEBT SERVICE FUND 141TY CL ADY;AED, -14w- 0 og-22-2014 VALUES VIS'10N z -MISSION STRATEGY Ta TOWN OF WE RAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE, TEXAS 76252 * WWW.WESTLAKE-TX,ORG kkL Debt Service Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In GF/4B/VA Other Sources Bond Refunding 2011 GORB Total Other Sources TOTAL REVENUES & OTHER SOURC EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Tranfsers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital Transfers Out Other Uses Bond Refunding Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budges vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 129,565 (0) 129,564 1,459,344 2,237,723 3,697,067 3,826,632 63,813 3,783,994 3,847,807 3,847,807 3,847,807 166,969 166,969 2,139,554 2,139,554 2,306,523 2,000 2,292,658 2,294,658 2,294,658 2,294,658 0% 0% 0% 153,868 140,522 0% 07. 0% 0% 0% - 907 1,677 0% - 0% - 0 153,868 140,522 1,936,358 1,924,966 2,090,226 2,078,834 1,936,358 1,924,966 2,090,226 2,065,488 166,969 166,969 2,139,554 2,139,554 2,306,523 2,000 2,292,658 2,294,658 2,294,658 2,294,658 0% 0% 0% 19% 26,447 0% 07. 0% 0% 0% - 907 1,677 0% - 0% - 0 197.1 26,447 2,089,319 2,077,157 2,090,226 2,078,834 11% 214,588 12% 241,035 0% 2,090,226 2,078,834 0% - 0% 0% 2,090,226 2,078,834 166,969 166,969 2,139,554 2,139,554 2,306,523 2,000 2,292,658 2,294,658 2,294,658 2,294,658 IEXCESS REVENUES OVER(UNDER) EXPENDITURES (21,175) - (13,346) 11,865 1007. 25,211 FUND BALANCE, BEGINNING 22,657 1,481 1,481.29 (11,865) FUND BALANCE, ENDING 1,481 1,481 (11,865) (0) Restricted/Assigned/Committed Funds 7,504 7,504 (11,865) (0) UNASSIGNED FUND BALANCE, ENDING - - - - -901% (13,346) 0% 0% 0% 19% 26,447 0% 07. 0% 0% 0% - 0% 323 0% - 0% - 0 197.1 26,447 11% 214,588 0% - 11% 214,588 12% 241,035 IEXCESS REVENUES OVER(UNDER) EXPENDITURES (21,175) - (13,346) 11,865 1007. 25,211 FUND BALANCE, BEGINNING 22,657 1,481 1,481.29 (11,865) FUND BALANCE, ENDING 1,481 1,481 (11,865) (0) Restricted/Assigned/Committed Funds 7,504 7,504 (11,865) (0) UNASSIGNED FUND BALANCE, ENDING - - - - -901% (13,346) 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 19% 323 0% - 0 0% 0% - 10% 215,501 10% 215,824 0% - 0% 0% 107. 215,501 0% - 0% 0% 107. 215,824 IEXCESS REVENUES OVER(UNDER) EXPENDITURES (21,175) - (13,346) 11,865 1007. 25,211 FUND BALANCE, BEGINNING 22,657 1,481 1,481.29 (11,865) FUND BALANCE, ENDING 1,481 1,481 (11,865) (0) Restricted/Assigned/Committed Funds 7,504 7,504 (11,865) (0) UNASSIGNED FUND BALANCE, ENDING - - - - -901% (13,346) 0% 11,865 0% 11,865 0% - Restricted/Assigned/Committed Funds 0% 0% 0% 0% TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS - - - - 017.1- SKI FUND OVERVIEW DEBT SERVICE FUND The Debt Service Fund was created as required by Texas law in connection with the issuance of debt. Interest & sinking ad valorem tax revenues and other available funds deposited to this fund are dedicated to the repayment of the Town's debt. In addition to I&S tax revenues, the Town makes deposits to this fund from 4B Economic Development Fund, General Fund and the Visitors Association Fund. Any future debt issuances will also be paid from this fund. The Town of Westlake implemented an ad valorem property tax for the first time during FY 2010-11. Revenues • Total Ad Valorem Property tax for FY 2014-15 is budgeted to be $166,969 • A 19% increase of $26,447 from the FYI 3/14 estimated revenues of $140,522 Transfers In • Total Transfers in for FY 2014-15 are budgeted to be $2,139,554 • An 11% increase of $214,588 from the FY13/14 estimated transfers in of $1,924,966 • $1,159,250 Transfers in from 4B Economic Development Fund • $ 815,856 Transfers in from General Fund • $ 164,450 Transfers in from Visitors Association Fund Expenditures • FY 2014-15 debt service expenditures are projected to be $2,294,658 • This is a 10% increase of $215,824 compared to FY 2013-14 estimated expenditures of $2,078,834. Debt service payments are made for the following: • Issue for various street projects: o $ 2,095,000 Series 2011 Certificates of Obligation • Issues made for the construction of the Westlake Academy facilities: o $12,400,000 Series 2002 Certificates of Obligation (refunded) o $ 6,410,000 Series 2003 Certificates of Obligation o $ 7,465,000 Series 2007 General Obligation Refunding Bonds • partial refund of $12.4 CO issue o $ 7,375,000 Series 2011 General Obligation Refunding Bonds ■ partial refund of $12AM CO and $6.4M issuance o $ 2,200,000 Series 2013 General Obligation Refunding Bonds ■ refund of $2.5 CO for the Arts and Sciences Building o $ 8,500,000 Series 2013 Certificates of Obligation ■ Westlake Academy Expansion o $ 1,980,000 Series 2014 General Obligation Refunding Bonds ■ Refunding of 2003 CO FUND OVERVIEW 00 y N W m N m O 11 O m V N NO Ln Lf] o ^ m n r1 o m m � °n° `° o o rn moo 00 zi rn Ln m '^ 1, °' oN 0 Ln in Ln 1 N oo r o m m m m m - N W N .-1 N N rj c -I N 1 111: MEN 1 111111 :1 • • • • • • • • • • • • • • • • • • • • Debt Limit: There is no direct limit on debt for the Town of Westlake except by way of a tax rate limit. Because the limit is the tax rate instead; if tax base grows, we can issue more debt without increasing tax rates. The Constitution of the State of Texas provides that the ad valorem tax levied by the Issuer for general purposes and for the purpose of paying debt service requirements of the Issuer's general obligation debt shall not exceed $1.50 for each $100 of assessed valuation of taxable property. STANDARD & POOR'S RATINGS SERVICES has recently increased the Town's rating from AA to AA+/stable. The upgrade reflects their assessment of the town's historically very strong finances and recent implementation of a property tax levy, which has further strengthened finances and lessened the operating fund's reliance on the somewhat volatile sales tax revenue stream. The rating reflects their opinion of the town's: • Participation in the Dallas -Fort Worth metropolitan statistical area (MSA) economy • Very strong budgetary flexibility with fiscal 2012 audited reserves in excess of 50% of general fund expenditures; • Very strong liquidity, providing very strong cash to cover debt service and expenditures; • Strong management conditions, supported by good financial policy implementation. Debt per Capita The Government Finance Officers Association (GFOA) recommends the use of outstanding debt indicators to accurately capture the unfunded obligation to be repaid from general revenues. The Town's direct debt per capita is the amount of governmental debt outstanding for each citizen of Westlake. This allows for a valid comparison among cities of different sizes. Direct debt includes all long-term obligations directly supported by general revenues and taxes. It does not include interest expenses. Westlake's debt per capita for FY14/15 is calculated at $25,390 and represents a .04% increase of $10 from the previous year. FUND OVERVIEW Debt Management Practices Debt management policies are written guidelines and restrictions that affect the amount and type of debt issued by a state or local government, the issuance process, and the management of a debt portfolio. A debt management policy improves the quality of decisions, provides justification for the structure of debt issuance, identifies policy goals, and demonstrates a commitment to long-term financial planning, including a multi-year capital plan. Adherence to a debt management policy signals to rating agencies and the capital markets that a government is well managed and should meet its obligations in a timely manner. Debt levels and their related annual costs are important long-term obligations that must be managed within available resources. An effective debt management policy provides guidelines for a government to manage its debt program in line with those resources. The Town of Westlake debt management policies are reviewed annually and revised as necessary and address the following: ✓ Direct Debt - debt payable from ad valorem I&S tax, and other available fund of the Town. ✓ Interfund Borrowing - loans for short-term cash flow needs. 1. Debt Limits - defines specific limits or acceptable ranges for each type of debt. Limits are generally set for legal, public policy, and financial reasons. For the Town of Westlake there is no legal limit to debt except by way of a tax rate limit. a. Legal limits are determined by: o State constitution and/or law which limit the Town's ad valorem rate. o Local charter, by-laws, resolution or ordinance, or covenant. b. Public Policy limits include: o Purposes for which debt proceeds may be used or prohibited, o Types of debt that may be issued or prohibited, o Relationship to and integration with the Capital Improvement Program, o Policy goals related to economic development, capital improvement financings, tax increment financing, and public-private partnerships. FUND OVERVIEW c. Financial limits generally reflect policy or other financial resource constraints. Appropriate debt limits can positively impact bond ratings, if the government demonstrates adherence to such policies over time. Financial limits are often expressed as ratios customarily used by credit analysts. Different criteria for determining credit worthiness i.e. credit rating). Direct Debt can be measured or limited by the following ratios o Debt per capita, o Debt to personal income, o Debt to taxable property value o Debt service payments as a percentage of general fund revenues or expenditures. 2. Debt Structuring Practices. Includes specific policies regarding the debt structuring practices for each type of bond, including: a. Maximum term (often stated in absolute terms or based on the useful life of the asset), b. Average maturity, c. Debt service pattern such as equal payments or equal principal amortization, d. Use of optional redemption features that reflect market conditions and/or needs of the government, e. Use of variable or fixed-rate debt, credit enhancements, and short-term debt, and limitations as to when each can be used, and f. Other structuring practices should be considered such as capitalized interest, deferral of principal and/or other internal credit support, including general obligation pledges. 3. Debt Issuance Practices. Provides guidance regarding the issuance process, which may differ for each type of debt. These practices include: a. Criteria for determining the sale method (competitive, negotiated, placement) and investment of proceeds, b. Criteria for issuance of advance refunding and current refunding bonds, c. Selection and use of professional service providers, d. Use of comparative bond pricing services or market indices as a benchmark in negotiated transactions, as well as to evaluate final bond pricing results, and e. Use of credit ratings, minimum bond ratings, determination of the number of ratings, and selection of rating services. 4. Debt Management Practices. Provides guidance for ongoing administrative activities including: a. Investment of bond proceeds, b. Primary and secondary market disclosure practices, including annual reporting as required, c. Arbitrage rebate monitoring and filing, d. Federal and state law compliance practices, and e. Market and investor relations efforts. :• Debt Service Fund Long -Term Debt Summary Series SERIES 2014 GO -Refunding SERIES 2013 GO -Refunding SERIES 2013 CO SERIES 2011 CO Type * partial refunding of 2003 *refunding of 2008 Certificates of Obligation Certificates of Obligation Funded by 4B Fund 8 General Fund Visitors Association Fund 4B Fund & General Fund DS 300 Property Tax Pymt Fiscal 300.48840.00. 14 300.48850.00. 14 300.48840.00. 13 300.48850.00. 13 300.48840.00. 12 300.48850.00. 12 300.48840.00. I1 300.48850.00. 11 TOTAL TOTAL TOTAL TOTAL No. Year Principal Interest Principal Interest Principal Interest Principal Interest 1 2015 195,000 65,510 260,510 120,000 44,450 164,450 173,550 277,719 451,269 97,000 57,704 154,704 2 2016 200,000 61,560 261,560 100,000 42,250 142,250 173,550 274,248 447,798 100,000 54,503 154,503 3 2017 5,000 59,470 64,470 130,000 39,950 169,950 178,000 270,732 448,732 75,000 79,475 154,475 4 2018 5,000 59,290 64,290 125,000 37,400 162,400 178,000 267,172 445,172 79,000 75,625 154,625 5 2019 5,000 59,110 64,110 135,000 34,463 169,463 182,450 263,568 446,018 83,000 71,575 154,575 6 2020 5,000 58,930 63,930 140,000 31,025 171,025 191,350 259,830 451,180 87,000 67,325 154,325 7 2021 5,000 58,750 63,750 145,000 27,463 172,463 191,350 255,525 446,875 91,000 62,875 153,875 8 2022 5,000 58,570 63,570 145,000 23,838 168,838 200,250 250,630 450,880 96,000 58,200 154,200 9 2023 5,000 58,390 63,390 150,000 20,375 170,375 204,700 245,056 449,756 101,000 53,275 154,275 10 2024 5,000 58,210 63,210 145,000 17,130 162,130 213,600 238,781 452,381 106,000 48,100 154,100 11 2025 5,000 58,030 63,030 155,000 13,830 168,830 213,600 232,373 445,973 111,000 42,675 153,675 12 2026 5,000 57,850 62,850 165,000 10,063 175,063 226,950 225,765 452,715 117,000 36,975 153,975 13 2027 5,000 57,490 62,490 160,000 6,000 166,000 231,400 218,601 450,001 123,000 30,975 153,975 14 2028 5,000 57,580 62,580 160,000 2,000 162,000 240,300 210,936 451,236 129,000 24,675 153,675 15 2029 360,000 52,000 412,000 - - - 347,100 200,956 548,056 136,000 18,050 154,050 16 2030 370,000 39,200 409,200 360,450 188,574 549,024 143,000 11,075 154,075 17 2031 390,000 24,000 414,000 - - - 369,350 175,803 545,153 150,000 3,750 153,750 18 2032 405,000 8,100 413,100 - - - 529,550 158,748 688,298 - - - 19 2033 - - - - - - 280,350 142,550 422,900 - - - 20 2034 293,700 131,069 424,769 21 2035 - - - - - - 307,050 119,054 426,104 - - - 22 2036 - - - - - - 320,400 106,505 426,905 - - - 23 2037 - - - - - - 329,300 94,129 423,429 - - - 24 2038 342,650 81,950 424,600 25 2039 - - - - - - 356,000 69,287 425,287 - - - 26 2040 369,350 55,447 424,797 27 2041 382,700 40,406 423,106 28 2042 - - - - - - 400,500 24,742 425,242 - - - 29 2043 - - - - - - 418,300 8,366 426,666 - - - TOTAL $1,980,000 $952,040 $2,932,040 $1,975,000 $350,235 $2,325,235 $8,205,800 $5,088,522 $13,294,322 $1,824,000 $796,837 $2,620,831 Original issue: $1,980,000 $2,200,000 $8,500,000 $2,095,000 Issue Date: January 2014 April 2013 April 2013 March 29, 2011 Rate: 3.747. 2.23% 3.42% 4.12% Use: Partial Refunding of 2003 Refunding of 2008 (A&S Building) $8.5M WA Expansion Various street projects Issued By: US Bank US Bank US Bank Independent Bank Series SERIES 2011 GO-Refunding SERIES 2007 GO-Refunding SERIES 2003 CO Type *partial refunding of 2002/2003 *partial refunding of 2002 Certificates of Obligation Funded by 4B Fund & General Fund 4B Fund & General Fund 4B Fund 200 Pymt Fiscal 300.48840.00. 10 300.48850.00. 10 300.48840.00. 07 300.48850.00. 07 300.48840.00. 03 300.48850.00. 03 GRAND TOTAL TOTAL TOTAL TOTAL No. Year Principal Interest Principal Interest Principal Interest =P,,ncp.1Interest Total Debt 1 2015 440,000 217,800 657,800 35,000 293,295 328,295 185,000 90,630 275,630 1,245,550 1,047,108 2,292,658 2 2016 100,000 212,400 312,400 410,000 291,983 701,983 190,000 83,230 273,230 1,273,550 1,020,173 2,293,723 3 2017 275,000 207,275 482,275 425,000 276,608 701,608 - 75,250 75,250 1,088,000 1,008,760 2,096,760 4 2018 700,000 192,650 892,650 40,000 259,608 299,608 - 75,250 75,250 1,127,000 966,995 2,093,995 5 2019 715,000 171,425 886,425 40,000 258,008 298,008 - 75,250 75,250 1,160,450 933,398 2,093,848 6 2020 730,000 149,750 879,750 45,000 256,408 301,408 - 75,250 75,250 1,198,350 898,517 2,096,867 7 2021 750,000 127,550 877,550 50,000 254,608 304,608 - 75,250 75,250 1,232,350 862,020 2,094,370 8 2022 770,000 104,750 874,750 55,000 252,608 307,608 - 75,250 75,250 1,271,250 823,845 2,095,095 9 2023 790,000 81,350 871,350 60,000 250,408 310,408 - 75,250 75,250 1,310,700 784,103 2,094,803 10 2024 820,000 55,150 875,150 65,000 248,008 313,008 - 75,250 75,250 1,354,600 740,629 2,095,229 11 2025 260,000 36,250 296,250 645,000 245,408 890,408 - 75,250 75,250 1,389,600 703,816 2,093,416 12 2026 260,000 27,150 287,150 670,000 219,608 889,608 - 75,250 75,250 1,443,950 652,660 2,096,610 13 2027 275,000 17,100 292,100 700,000 192,808 892,808 - 75,250 75,250 1,494,400 598,223 2,092,623 14 2028 290,000 5,800 295,800 730,000 164,808 894,808 - 75,250 75,250 1,554,300 541,048 2,095,348 15 2029 - - - 760,000 134,695 894,695 350,000 75,250 425,250 1,953,100 480,951 2,434,051 16 2030 - - - 790,000 103,345 893,345 365,000 57,750 422,750 2,028,450 399,944 2,428,394 17 2031 - - - 825,000 70,560 895,560 385,000 39,500 424,500 2,119,350 313,613 2,432,963 18 2032 - - - 855,000 35,910 890,910 405,000 20,250 425,250 2,194,550 223,008 2,417,558 19 2033 - - - - - - - - - 280,350 142,550 422,900 20 2034 - - - - - - - - - 293,700 131,069 424,769 21 2035 - - - - - - - - - 307,050 119,054 426,104 22 2036 - - - - - - - - - 320,400 106,505 426,905 23 2037 - - - - - - - - - 329,300 94,129 423,429 24 2038 - - - - - - - - - 342,650 81,950 424,600 25 2039 - - - - - - - - - 356,000 69,287 425,287 26 2040 - - - - - - - - - 369,350 55,447 424,797 27 2041 - - - - - - - - - 382,700 40,406 423,106 28 2042 - - - - - - - - - 400,500 24,742 425,242 29 2043 - - - - - - - - - 418,300 8,366 426,666 TOTAL $7,175,000 $1,606,400 $8,781,400 $7,200,000 $3,808,678 $11,008,678 $1,880,000 $1,269,610 $3,149,610 $30,239,800 $13,872,316 $44,112,116 Original Issue: $7,375,000 $7,465,000 $6,410,000 Issue Date: December 29, 2011 March 15, 2007 June 23, 2003 Rate: 2.58% 4.19% 4.77% Use: Partial refunding of 2002 & 2003 Partial refunding of Series 2002 2nd phase construction of WA Issued By: US Bank US Bank Bank of New York N F" w 0 CEMETERY FUND YAITY ' f s ML Amp VALUES m :D CAR VISION _MISSION z S j< TRATEGY THE TOWN Ot WEMAKE * 3VILLAGE CIRCLE #2-02 * WESTLAKE,TEXAS 76262 * WWWNESTLAKIE-MORG Cemetery Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES 5,510 87 5,597 5,597 2,769 2,560 5,329 5,329 5,329 Adopted Estimated opt Aded Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 0% 100% 500 5,510 87 5,597 5,597 2,769 2,560 5,329 5,329 5,329 500 6,225 7,215 13,940 13,940 13,940 0% 0% 0% 0% 0% 0% 100% 500 4,225 4,225 0% - 7,215 2,215 0% - 0% 0% 11,440 6,440 0% - 0% 0% - 11,440 6,440 0% 0% 11,440 6,440 500 6,225 7,215 13,940 13,940 13,940 EXCESS REVENUES OVER(UNDER) EXPENDITURES 268 (5,380) (380) (7,880) I 19747. (7,500) FUND BALANCE, BEGINNING 147,353 147,621 147,621 147,241 FUND BALANCE, ENDING 147,621 142,241 Limb 139,361 Restricted/Assigned/Committed Funds 147,621 142,241 147,241 139,361 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Commitfed Funds A Cash 255 10110 00 000 A Open Cemetery Lots 255 15100 00 000 TOTAL RESTRICTED/ASSIGN 49,740 97,881 immi 193 44,062 50,156 98,179 97,085 42,574 96,787 139,361 0% (380) -5% (7,880) -5% (7,880) 0% -15% (7,582) 0% (298) 0% - 0% 0% -5% (7,880) 0% 0% 0% 0% 0% 0% 100% 500 47% 2,000 0% - 226% 5,000 0% - 0% 0% 116% 7,500 0% - 0% 0% - 116% 7,500 0% 0% 116%17,500 EXCESS REVENUES OVER(UNDER) EXPENDITURES 268 (5,380) (380) (7,880) I 19747. (7,500) FUND BALANCE, BEGINNING 147,353 147,621 147,621 147,241 FUND BALANCE, ENDING 147,621 142,241 Limb 139,361 Restricted/Assigned/Committed Funds 147,621 142,241 147,241 139,361 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Commitfed Funds A Cash 255 10110 00 000 A Open Cemetery Lots 255 15100 00 000 TOTAL RESTRICTED/ASSIGN 49,740 97,881 immi 193 44,062 50,156 98,179 97,085 42,574 96,787 139,361 0% (380) -5% (7,880) -5% (7,880) 0% -15% (7,582) 0% (298) 0% - 0% 0% -5% (7,880) FUND OVERVIEW CEMETERY FUND The Cemetery program includes all operations associated with the 5.5 acre cemetery located on J.T. Ottinger Road. This includes interment, lot sales, record keeping, and all maintenance associated with the grounds, fences, trees and flower beds. The cemetery was donated and conveyed by deed to the Town during FY2008-09. Revenues • Total adopted revenues for FY 2014-15 are $6,060 • Revenue will remain flat when compared to FY 2013-14 estimated revenues. Expenditures • Total adopted expenditures for FY 2014-15 are $13,940 • This is an increase of $7,500 compared to FY 2013-14 estimated expenditures. o Increase of $500 in supplies o Increase of $2,000 for contracted services o Increase of $5,000 in repair & maintenance Fund Balance • The projected ending fund balance for FY 2014-15 is $139,361 o $42,574 Operating Cash o $96,787 Open Cemetery Lots 194 This page is intentionally blank W, UTILITY FUND r rr 61PTED- 0 09-22-2014 '7-VALlfft VISION z I a a L %-A IT STRATEGY a O Ti* ToWN Or-WFSTLAKE * 3 VILLAGE CIRCLE #202 * WLS1 LAKE, TEXAS 76262 * WWW.WESTLAKE- I X.ORG A Utility Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES Adopted Charges for Services Water Charges for Services Sewer Charges for Services Trash Charges for Services Other Franchise Fees FY 13/14 Permits & Fees FY 14/15 Fines & Forfeitures 696,216 Investment Earnings 66,416 Contributions 5,050 Misc Income 5,050 Total Revenues - Transfers In 60,750 Other Sources 60,750 Total Other Sources (9,400) TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Debt Water Purchases Total Operating Expenses Capital Projects Capital Outlay Total Capital TOTAL EXPENSES Transfers Out Total Other Uses TOTAL EXPENSES & OTHER USES EXCESS REVENUES OVER(UNDER) EXPENSES 802,096 (1,184,605) (1,196,046) (318,555) -737. 877,491 FUND BALANCE, BEGINNING FUND BALANCE, ENDING Restricted/Assigned/Committed Funds UNASSIGNED FUND BALANCE, ENDING Operating Expenses # Days Operating Restricted/Assigned/Committed Funds R Water/Sewer Deposits 10112 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS. 4,748,475 Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 EXCESS REVENUES OVER(UNDER) EXPENSES 802,096 (1,184,605) (1,196,046) (318,555) -737. 877,491 FUND BALANCE, BEGINNING FUND BALANCE, ENDING Restricted/Assigned/Committed Funds UNASSIGNED FUND BALANCE, ENDING Operating Expenses # Days Operating Restricted/Assigned/Committed Funds R Water/Sewer Deposits 10112 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS. 4,748,475 5,550,573 5,550,573 4,354,526 -22% (1,196,046) 5,550,573 4,365,968 2,322,249 2,112,000 2,112,000 2,510,544 19% 398,544 751,092 529,800 629,800 696,216 11% 66,416 5,293 5,050 5,050 5,050 0% - 76,714 60,750 70,150 60,750 -13% (9,400) 275,791 321,554 321,554 352,198 0% 30,644 275,910 321,554 321,554 352,198 0% 30,644 5,044 8,100 8,100 8,100 0% 6,325 6,000 6,425 6,000 -7% (425) - - - - 0% - 226,980 192,004 402,704 192,004 -52% (210,700) 3,388,653 2,905,604 3,226,129 3,470,564 8% 244,435 500,000 - - - 0% - - 1,110,600 1,134,600 1,280,600 0% 146,000 500,000 - - 2,384,676 0% 86,248 3 2,905,604 3,226,129 3,470,564 8% '244,. EXCESS REVENUES OVER(UNDER) EXPENSES 802,096 (1,184,605) (1,196,046) (318,555) -737. 877,491 FUND BALANCE, BEGINNING FUND BALANCE, ENDING Restricted/Assigned/Committed Funds UNASSIGNED FUND BALANCE, ENDING Operating Expenses # Days Operating Restricted/Assigned/Committed Funds R Water/Sewer Deposits 10112 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS. 4,748,475 5,550,573 5,550,573 4,354,526 -22% (1,196,046) 5,550,573 4,365,968 119 4,035,972 -7% (318,555) 0% 195,510 - 197,465 1% 1,955 0% 4,170,458 4,159,016 3,838,506 -8% (320,510) 0% 2,427,444 2,634,981 2,756,874 5% 121,893 0% 627 275,791 321,554 321,554 352,198 1 10%1 30,644 275,910 321,554 321,554 352,198 10% 30,644 5,044 8,100 8,100 8,100 0% 635,003 523,028 599,503 563,264 -6% (36,239) 4,780 4,790 4,790 4,790 0% - 95,384 122,400 170,650 148,400 -13% (22,250) 98,733 130,760 132,535 132,535 0% 709,962 191,212 248,250 246,987 -1% (1,263) 965,192 1,110,600 1,134,600 1,280,600 13% 146,000 2,514,098 2,090,890 2,298,428 2,384,676 4% 86,248 211,407 1,521,880 1,486,164 288,500 -81% (1,197,664) 20,731 15,000 15,000 20,000 33% 5,000 232,138 1,536,880 1,501,164 308,500 -79% (1,192,664) 3,022,146 3,949,324 4,1211,145; 3A45,374 a ,EI tT?6,416) 64,409 140,885 301,030 743,745 147% 442,715 64,409 140,885 301,030 743,745 147% 442,715 3,086,555 4,090,209 4,422,175 3,789,119 -147. (633,056) EXCESS REVENUES OVER(UNDER) EXPENSES 802,096 (1,184,605) (1,196,046) (318,555) -737. 877,491 FUND BALANCE, BEGINNING FUND BALANCE, ENDING Restricted/Assigned/Committed Funds UNASSIGNED FUND BALANCE, ENDING Operating Expenses # Days Operating Restricted/Assigned/Committed Funds R Water/Sewer Deposits 10112 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS. 4,748,475 5,550,573 5,550,573 4,354,526 -22% (1,196,046) 5,550,573 4,365,968 4,354,526 4,035,972 -7% (318,555) 171,802 195,510 195,510 197,465 1% 1,955 5,378,771 4,170,458 4,159,016 3,838,506 -8% (320,510) 2,810,739 2,427,444 2,634,981 2,756,874 5% 121,893 698 627 576 508 -12% (68) 197 FUND OVERVIEW UTILITY FUND REVENUES AND OTHER RESOURCES • Total adopted revenues for FY 2014-15 are budgeted to be $3,470,564 • A 8% increase of $244,435 from the FY 2013-14 estimated revenues of $3,226,129 • Utility Fund revenue is primarily comprised of fees for water and wastewater service. • The fund also receives a small portion of its revenue through tap fees and interest income, and currently serves as a mechanism for collecting and distributing debt service and impact fees. ® Impact 1% V Duct Bank TRA Wastewater 3% 3% Fees I FY14/15 Adopted Y Tap Fees Revenues 1% ■ Sewer Re 20! Water Revenue • Water revenues comprise 720 of FY 2014-15 Utility Fund revenues. o The Utility Fund is the recipient of all revenue generated from water sales in the Town. With the construction of Westlake's master -planned residential developments, the Town placed new water infrastructure into service in 2000. o As Westlake's customer base continues to expand, additional demands will be placed on the utility system, requiring incremental expansion and maintenance of infrastructure. Revenue Trends (shown in millions) $3.28 $3.05 $3.39 $3.23 $3.47 $1.94$1.74 $2.11 $2.43 $2.22 1 � �� il LJIL14� FY 05/06 FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 actual actual actual actual actual actual actual actual estimated adopted Wastewater Revenues • Wastewater revenues comprise 20% of FY 2013-14 Utility Fund revenues. o Wastewater revenue is another major component of the Utility Fund. Wastewater revenue is expected to grow proportionate to future non -irrigation water demands. o These future increases can be attributed to both residential and commercial growth. IM FUND OVERVIEW Ductbank Permit Fees • Ductbank permit fees and deferred revenues comprise 3% of FY 2013-14 Utility Fund revenues. o The ductbank is a series of Town owned conduit that houses underground telecommunication infrastructure in portions of Westlake. o Revenues from the ductbank are contingent upon utility companies leasing out portions of the conduit. o The Town continues to execute new leases with telecommunications companies. Waste Management • The Town receives a 12% fee from its franchisee for providing this service. o During FY 2008-09, the Town took over the billing and collection of residential solid waste user fees for its franchised hauler. o In FYI 1 /12 the Town changed from twice a week pick up schedule to once a week pick up schedule in lieu of a rate increase. o The current rate for solid waste and recycling service remains unchanged since 2008. EXPENSES AND OTHER USES • Total adopted expenses for FY 2014-15 are $3,789,119 • A 14% decrease of $633,056 from the FY 2013-14 estimated expenses. • This decrease is primarily due to the completion of a second ground storage tank project in 2014. Services Provided The Utility Fund accounts for water and wastewate, services for the residents of the Town. All activities necessary to provide such services are accounted for in the fund, including administration, operations, maintenance, financing and related debt service, and billing and collection. .4/15 3pted _..,senses This fund also contains the planning and implementation of the ductbank. This is a series of underground conduit designed to house telecommunications services in Westlake. The ductbank is a public/private partnership that utilizes public and private sector capital, town planning and engineering and town operation. Phase I was completed in FY 2000-01 and became ready for occupancy in FY 2001-02 with leases following completion of construction. FY 2004-05 saw the completion of the ductbank extension from Vaquero to Pearson Road with a lease following the construction. The development of the Terra Bella subdivision extended the ductbank from Sam School Road through the subdivision to Dove Road. In 2010, Deloitte University constructed new ductbank through their development that connected the section at Dove/Pearson Lane to Ottinger Road at the Deloitte service entrance with leases following completion of construction. The Utility Fund is responsible for all telecommunications, water, sewer, and ductbank service in the Town. The Town continues to use new automated technologies to control inflows into our storage facilities and minimize the annual peak payment charges from the City of Fort Worth. The fund is also burdened with three outstanding long-term obligations. 1. The first is the proportionate buyout of infrastructure owned by the Hunt Trust which sold the Circle T Ranch to Hillwood. The Town's agreement with Hillwood is that in exchange 199 FUND OVERVIEW for dissolution of the Municipal Utility Districts (MUDS), the Utility Fund will reimburse Hillwood the share of purchased MUDS infrastructure for each development based upon the acres removed from the MUDS. Hillwood, in turn, must deposit these funds into an escrow account owned by the Hunt Trust. 2. The second long term liability is the loan from Hillwood to the Town to construct the 16" and 20" transmission water lines and the US 377 Pump Station. The Town is contractually obligated to pay for this infrastructure through a surcharge on water rates. The Town is divided into two service areas, one being the Circle T Ranch, and the remaining areas within the Town's limits which constitute the "Town" service area. The Town pays Hillwood $.25 cents per 1,000 gallons of water distributed to consumers in these two service areas. Each service area pays its respective portion of the overall debt based on the volume of water used from the customers. The contract clearly stipulates that this is not a general obligation of the Town. It is, however, required to be paid back through this assessment being attached to the water rate. The rate would have to be significantly increased to pay this debt off in the twenty years contemplated under the agreement. Hillwood has stated that once the Town and Hillwood agree on proportionate future infrastructure funding, this liability will be erased. Nevertheless, the obligation does exist and water rates should always be reviewed with this obligation in mind. 3. The third longterm liability is the joint Westlake/Keller water tower that was constructed to provide the necessary water storage and pressures within Westlake. Staff is committed to maintaining an up to date utility rate analysis to maintain the integrity of the fund. The budget is based on an adjustment in water and sewer rates from a rate study conducted in FY 2010-11. The fund revenues were estimated based on a water and sewer rates approved by the Town Council on December 13, 2010 and became effective January 1, 2011. The purpose of the rate increase was to fully recover all system costs as well as provide for capital improvements and maintenance of our water and sewer utility. In addition to the rate increase on December 13, 2011, Council also approved a "pass-through" rate adjustment ordinance that provides for an automatic adjustment to rates based on unit volume costs from the Town's wholesale providers. Water Billing Accounts 700 600 992 1063 500 400 785 803 847 300 355 200 100 FY 04/05 FY 05/06 FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 estimate Water Accounts — —Population 200 PROGRAM BUDGET Utility Fund Public Works Department Director Jarrod Greenwood Department Phone 817-490-5717 Program I Activity Budget Percent Water Services 1 Maintenance & Repairs 237,937 8.63% 2 Regulatory Monitoring & Reporting 48,729 1.77% 3 Water Conservation 22,533 0.82% 4 Customer Service 66,926 2.43% 5 Meter Testing & Replacement 84,729 3.07% 6 Wholesale Water Purchases 1,280,601 46.45% 7 Contract Management 210,572 7.64% Solid Waste $ 1,952,027 70.81% Sewer Services Municipal Governance 1 Town Council Meetings/Workshopsl 59,9811 2.18% $ 59,981 2.18% Citizen Engagement and Communication 1 Neighborhood Gatherings & Cutreachi 6,9631 0.25% $ 6,9631 0.25% Accounting Services - Municipal 1 1 Maintenance & Repairs 28,301 1.03% Accounts Receivable 2 Regulatory Monitoring & Reporting 7,250 0.26% 6,639.19 3 Wastewater Treatment 430,001 15.60% 4 Contract Management 29,904 1.08% 0.08% 6 $ 495,455 17.97% Solid Waste & Recycling 1 Solid Waste 35,188 1.28% 2 Recycling 25,188 0.91% $ 60,376 2.19% Utility Billing Services 1 Utility Billingi 100,3171 3.64% $ 100,3171 3.64% Municipal Governance 1 Town Council Meetings/Workshopsl 59,9811 2.18% $ 59,981 2.18% Citizen Engagement and Communication 1 Neighborhood Gatherings & Cutreachi 6,9631 0.25% $ 6,9631 0.25% Accounting Services - Municipal 1 Accounts Payable 6,264.50 0.23% 2 Accounts Receivable 7,404.59 0.27% 3 Payroll 6,639.19 0.24% 4 Financial Reporting 20,694 0.75% 5 Cash & Investment Management 2,258.32 0.08% 6 Annual Budget $ 29,333.53 72,594 1.06% 2.63% Municipal Administration 1 Support Services - Human Resources Represents Total Expenses net of Debt & Capital Projects 201 9,170.171 0.33% 9,170.171 0.33% $ 2,756,874 1 100% UTILITY FUND Debt Payable Schedule Ground Storage Tank 202 SERIES 2013 CERTIFICATES OF OBLIGATION Pymt Fiscal 500-48840-16-00 500-48850-16-00 TOTAL Principal Interest No. Year 1 2015 21,450 34,325 55,775 2 2016 21,450 33,896 55,346 3 2017 22,000 33,461 55,461 4 2018 22,000 33,021 55,021 5 2019 22,550 32,576 55,126 6 2020 23,650 32,114 55,764 7 2021 23,650 31,582 55,232 8 2022 24,750 30,977 55,727 9 2023 25,300 30,288 55,588 10 2024 26,400 29,512 55,912 11 2025 26,400 28,720 55,120 12 2026 28,050 27,904 55,954 13 2027 28,600 27,018 55,618 14 2028 29,700 26,071 55,771 15 2029 42,900 24,837 67,737 16 2030 44,550 23,307 67,857 17 2031 45,650 21,728 67,378 18 2032 65,450 19,621 85,071 19 2033 34,650 17,619 52,269 20 2034 36,300 16,200 52,500 21 2035 37,950 14,715 52,665 22 2036 39,600 13,164 52,764 23 2037 40,700 11,634 52,334 24 2038 42,350 10,129 52,479 25 2039 44,000 8,564 52,564 26 2040 45,650 6,853 52,503 27 2041 47,300 4,994 52,294 28 2042 49,500 3,058 52,558 29 2043 51,700 1,034 52,734 TOTAL $ 1,014,200 1 628,918 $ 1,643,118 Original Issue: $1,000,000 Issue Date: April 1, 2013 Issued By: US Bank 202 UTILITY FUND Debt Payable Schedule Keller Overhead Storage Pymt # Pymt TOTAL PAYABLE Payable WESTLAKE'S PORTION OF PAYABLE 32% Principal Interest Total Y Balance Date Principal Interest Total 1 Sep -06 $ 190,000 $ 173,730 $ 363,730 $ 116,554 $ 60,884 $ 55,670 $ 116,554 $ 1,257,727 2 Sep -07 200,000 163,344 363,344 116,430 64,088 52,342 116,430 1,193,639 3 Sep -08 210,000 151,575 361,575 115,863 67,292 48,571 115,863 1,126,347 4 Sep -09 225,000 138,219 363,219 116,390 72,099 44,291 116,390 1,054,248 5 Sep -10 235,000 127,169 362,169 116,053 75,303 40,750 116,053 978,944 6 Sep -11 245,000 118,463 363,463 116,468 78,508 37,960 116,468 900,436 7 Sep -12 255,000 109,088 364,088 116,668 81,712 34,956 116,668 818,724 8 Sep -13 270,000 98,906 368,906 118,212 86,519 31,694 118,212 732,205 9 Sep -14 285,000 87,806 372,806 119,462 91,325 28,137 119,462 640,880 10 Sep -15 295,000 76,206 371,206 118,949 94,530 24,420 118,949 546,350 11 Sep -16 310,000 64,106 374,106 119,879 99,336 20,542 119,879 447,014 12 Sep -17 325,000 51,163 376,163 120,538 104,143 16,395 120,538 342,871 13 Sep -18 340,000 37,406 377,406 120,936 108,950 11,986 120,936 233,921 14 Sep -19 355,000 23,072 378,072 121,149 113,756 7,393 121,149 120,165 15 Sep -20 375,000 7,875 382,875 122,688 120,165 2,523 122,688 - TOTAL $4,115,000 $1,428,127 $5,543,127 $1,776,240 $1,318,611 $457,629 $1,776,240 203 FUNDED CAPITAL IMPROVEMENT Project Description: The Town currently utilizes a drive by radio frequency method to read water meters. This requires the Town to purchase a laptop and proprietary reading software from the meter company and is only supported for 5 years. The Town's system is 6 years old and is in need of being upgraded/replaced. This project will consist of replacing all radio read meters within the Town with the next generation system that would allow for instantaneous, remote meter readingcleaning; increased customer service, and a customer web portal that would allow customers to view their water consumption. The new system would require a monthly charge of $3 per meter. • •-M pie Wag"Magwggs 9r EXPENDITURE TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Engineering Construction Design Contingency - - - - 38,500 - - - - 38,500 - - - - - - - - 77,000 - - - - - - - - - - - Bond Issuance EXPENDITURES TOTAL - - 38,500 38,500 - - - UnFunded • •-M pie IMPACT TYPE FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/177 FY 17/18 FY 18/19 Cash/Transfers - Contributions/Grants - - 38,500 38,500 - - - 77,000 - - - - - - - Bond Issuance - - - - - - - - UnFunded - - - - - - - - FUNDING TOTAL - - 38,500 38,500 - - - 77,000 • •-M pie IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - - - Services - - - - - - - - Insurance - - - - - - - - Repair & Maintenance - - 12,600 25,200 25,956 26,735 27,537 118,027 Rent & Utilities - - - - - - - - Debt Service - - - - - - - OPERATING IMPACT - - 12,600 25,200 25,956 26,735 27,537 118,027 204 FUNDED CAPITAL IMPROVEMENT Project Description: This project is intended to transfer ownership of a section of sewer line from Westlake and Southlake to TRA. It includes the design and construction of a metering station with SCADA equipment at the proposed Town of Westlake "Point of Entry." Westlake will be required to conduct an extensive inflow and infiltration study and perform repairs (separate capital improvement). .. ,b. _ .�— �.,– • •- 11111 �J 11,11111 EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Project Total Engineering Construction Design Contingency - - - 12,467 70,500 250,000 - - - - - - - - - - 12,467 320,500 - - - - - - - - - - - - EXPENDITURES TOTAL - 82,967 250,000 - - - - 332,967 • •- 11111 �J 11,11111 IMPACT TYPE FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/177 FY 17/18 FY 18/19 Cash/Transfers - Contributions/Grants - 82,967 250,000 - - - - 332,967 - - - - - - - Bond Issuance - - - - - - - - UnFunded - - - - - - - - FUNDING TOTAL - 1 82,967 250,000 - - - - 332,967 • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - - Services - - - - - - - - Insurance - - - - - - - - Repair & Maintenance - - - - - - - - Rent & Utilities - - - - - - - - Debt Service - - - - - - - OPERATING IMPACT - - - - - - - 205 UTILITY MAINTENANCE &A"WREPLACEMENT FUND IF . Abo-PTED 09-22-2014 VA LS VISION - z MISSION STRATEGY THE To wN OF WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKErTEXAs 76262 * WWW.WESTLAKE-T)CORG Utility Maintenance & Replacement Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Expenditures Capital Outlay Capital Projects Total Capital TOTAL OPERATING EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget Vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FYI 81,672 81,672 81,672 81,672 203,000 203,000 203,000 203,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 717 186,470 717. 186,470 186,470 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% s sss 0% 0% 203,000 203,000 203,000 203,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 717 186,470 717. 186,470 186,470 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 88,000 296,530 88,000 296,530 88,000 296,530 0% 0% 88,000 296,530 203,000 203,000 203,000 203,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 717 186,470 717. 186,470 186,470 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -32% (93,530) -32% (93,530) -32% (93,530) 0% 0% -32% (93,530) EXCESS REVENUES OVER(UNDER) EXPENDITURES (31,531) (37,875) (32,875) 247,125 -852% 280,000 FUND BALANCE, BEGINNING 92,829 61,298 61,298 28,423 -54% (32,875) FUND BALANCE, ENDING 61,298 23,423 28,423 275,548 869% 247,125 Restricted/Assigned/Committed Funds 61,298 23,423 28,423 275,548 869% 247,125 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Committed Funds A Cash 510 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUN 61,298 61,298 207 23,423 28,423 23,42 28,423 275,548 275,548 1 869%1 247,125 1 247, FUND OVERVIEW UTILITY- MAINTENANCE & REPLACEMENT FUND The Utility Maintenance & Replacement Fund (UMR) was created to provide a mechanism for repair and replacement of capital assets such as pump stations, lift stations, elevated and ground storage facilities, etc. This fund receives planned portions of revenues from the Utility Fund allocated to future capital repair and replacement. As in the General Maintenance and Replacement Fund, this was anticipated to help avoid future bond programs and force a more conservative pattern of spending in light of uncertain future revenues. This fund consists of systematic water and sewer line repairs and major maintenance projects funded by an operating transfer from the Utility Fund. Projects are included each year from a long-range maintenance schedule which incorporates routine scheduled maintenance and recommended replacement and upgrading of lines and permanent capital assets. Revenues and Transfers In • FY2014/2015 revenues are $450,125 • A 71% increase of $186,470 from the FY 14/15 estimated revenues of $263,655 o Transfers In from the Utility fund increased $186K to replenish fund balance due to Lift Station Discharge expenses incurred in FY13/14. o Additional funds will be transferred from the Utility Fund when available Expenditures • FY2014/2015 expenditures are projected to be $203,000 • A 32% decrease of $93,530 from the FY 13/14 estimated expense of $296,530 o $12,500 increase - Water Main Repair and Maintenance o $213,530 decrease - Lift Station Discharge o $20,000 increase - Lift Station Pump Repairs o $5,500 decrease - Pump Station repair & Maintenance o $80,000 increase - Pump Station Equipment o $32,000 decrease - SCADA Replacement o $45,000 increase - purchase Chevrolet Utility Truck Fund Balance • Fund balance at FY 14/15 year-end is projected to be $275,548 Lift Station Discharge The Town of Westlake experienced a malfunction and overflow at one of our sanitary sewer lift stations located in the 1900 block of State Highway 114, spilling raw sewage into the creek adjacent to it. This overflow traveled downstream approximately 3/4 of a mile into an in -channel pond in Trophy Club, near the Hogans' Glen subdivision. The lift station ceased operating due to rodents that chewed through electrical wiring, causing the pumps not to work and impeding our high level alarm, which otherwise would have notified us of the lift station's failure. The ensuing discharge was discovered at approximately 10:45 a.m. on Friday, October 4, 2013. Town of Westlake staff began notifying state and local officials. Initiation of the cleanup process began within 10 minutes of discovery. Westlake personnel notified the Town of Trophy Club of this sewage spill at approximately 1:30 p.m., who in turn notified their residents in its Hogans' Glenn subdivision. Staff also notified the Texas Commission on Environmental Quality M FUND OVERVIEW (TCEQ) at approximately 4:20 p.m. and Texas Parks & Wildlife Department at approximately 4:50 p.m. as there were approximately 400 fish killed, in the in -channel pond just before the creek enters Hogans' Glen subdivision, as a result of this discharge. Staff talked the City of Grapevine on Monday afternoon regarding the discharge and provided details of the discharge and the Westlake pH and ammonia sample collection information. Staff retained the services of an environmental remediation company, Extreme Services Unlimited, to immediately begin the cleanup process of removing the raw sewage so it could be taken to the Trinity River Authority Denton Creek Treatment Plant for proper treatment. The Town's SCADA contractor, Infinite Services, restored manual operation of the pumps at approximately 3:00 p.m. with the automated operation equipment was repaired and replaced at approximately 7:30 p.m. While the equipment was repaired, the wet well was filled with solids that needed to be removed. Solids were removed from the lift station wet well that had accumulated during the time the lift station was inoperable. During the time period that the pumps were inoperable, crews bypassed pumped from the immediate upstream manhole to the lift station. This was vacuumed out and hauled off along with into (automated) service on Friday by approximately 9:00 p.m. Trinity River Authority collected samples and tested for ammonia and pH (see enclosed sample report from TRA). Westlake staff continued collecting and testing water samples throughout the cleanup process. Westlake staff met with Game Warden Travis Porter from the Texas Parks and Wildlife. He took photos, interviewed Westlake staff, and talked to Trophy Club residents. I let Mr. Porter know that TCEQ was notified and they had a field investigator on site earlier in which I provided your contact information to him. Game Warden Porter indicated that he was in contact with the state biologist to discuss how Texas Parks and Wildlife would proceed. Crews worked over night on Friday, October 4, and continued removing all of the discharge from the area adjacent to the lift station, creek, and Hogan's Glen pond. As of Saturday afternoon, October 5, the pond's elevation was lowered to approximately 4 feet. Unfortunately Westlake received approximately 0.25" of rain from 7:00 p.m. until 8:30 p.m. Saturday evening. This rain water filled the pond and creek back up, nullifying any pumping progress during the previous 24 hour period. Additionally, the rains made our staging area near the lift station too muddy to continue pumping operations until we were able to place a 4" pump near the creek (adjacent to the pump station) at approximately 3:00 a.m. The fountain located on the east side of the Hogan's Glen pond was pumped out and pressure washed by Westlake crews. The contractor continued 24 hour pumping operations, without further incident, throughout Sunday and Monday, finishing on Tuesday when the creek adjacent to the lift station and the pond near Hogan's Glen were pumped dry. The contractor then applied lime to the affected creek area adjacent to the lift station. On Wednesday, October 9, 1 reported to you that the pond had been emptied on Tuesday. However, overnight irrigation placed water back into the pond from one irrigation system with a significant leak. This episode was witnessed and documented by me. Unfortunately, I am unable to ascertain the amount of pumping that was done at each site for the time period before and after the rain event on Saturday, October 5, as you requested. The contractor did not differentiate their load information. The contractor removed a total of 779,940 gallons of contaminated water from both sites. This work took a combined 490 hours of vacuum truck operations to complete. 209 FUND OVERVIEW Staff worked with the Trinity River Authority to determine: 1) when the failure occurred; and, 2) the estimated 213,000 gallons of discharge. This number is based on the average daily flow of 53,000 gallons through the meter at the lift station site for the 96 hours that the meter did not register a flow. On Wednesday, October 9, Game Warden Porter stated that he would be forwarding his report to TCEQ. Immediately after I received approval from you to proceed with refilling the pond on Wednesday, October 9, 1 started notifying the Town of Trophy Club and the Hogan's Glen Home Owners' Association as the Town of Westlake is now in the process of filling the pond with potable water from a fire hydrant located near the affected pond until it has been completely filled. This water is being de -chlorinated prior to its discharge into the pond. I have contacted Magnolia restocking rate. Magnolia Fisheries stated that we would have to wait for three weeks after the refilling the pond with potable water before we begin restocking with fish, just to make sure any there is no residual chlorine. Once the discharge was discovered, Trinity River Authority collected pH and ammonia samples to ascertain the extent of the discharge. During the cleanup process, Westlake staff collected pH and ammonia samples that were tested at the Denton Creek Treatment Plant. In addition to the repaired and replaced lift station equipment that was damaged, Westlake will integrate additional SCADA logic programming with back up monitoring and alarm equipment in all lift stations to provide redundant protection in an effort to prevent any future discharge. 210 Utility Maintenance and Replacement Fund 5 Year Projection Description Actuals 2003 - 2013 Estimated FY 13-14 Adopted FV 14-15 Projection TOTALS FY 15-16 1 FY 16-17 1 FY 17-18 1 FY 18-19 TOTALS REVENUES AND OTHER SOURCES 61,298 28,423 275,548 Water Main R&M 0 Interest Income 470 125 125 125 125 125 125 500 1,220 Transfer in from GF - - - - - - - - - Transfer in from GMR - - - - - - - - - Transfer in from OF 163,864 263,530 450,000 300,000 300,000 300,000 300,000 1,200,000 2,077,394 Transfer in from PTR 10,000 - - - 10,000 TOTAL• • ii 0000ii A0 ii is UTILITY MAINTENANCE/REPLACEMENT PROJECTS 61,298 28,423 275,548 Water Main R&M 0 - 17,500 30,000 - - - - - 47,500 Pump Station R&M 0 - 5,500 - 705,798 S,S00 Vaquero Lift Station Pump Upgrade 0 - - - - - - - - Sewer R&M - SS 1&1 1 23,864 23,864 Pump Station Gate Retro -Fit 2 7,500 - - - - - - - 7,500 Pump/Motor Repair/Replacement 4 27,225 27,225 Pump Station Equipment 5 - - 80,000 82,500 87,500 - - 170,000 250,000 SCADA Replacement 6 60,000 28,000 - - - 88,000 Chevy Utility Truck 7 - - 45,000 - - - - - 45,000 Lift Station Pump Repairs 10 16,371 20,000 36,371 Water Main R&M 11 38,076 - - - - - - - 38,076 114 Lift Station Discharge 12 - 213,530 - - - - - 87,500 213,530 GRAND TOTAL PROJECTS Fund Balance 61,298 28,423 275,548 493,173 705,798 05,923 Fund Balance Ending 61,298 E::z 275,548 493,173 705,798 1,005,923 1,0306,048 211 F" w 0 u J.. z z Q GENERAL MAINTENANCE EPLACEMENT FUND ITY STRATEGY THE TowN 4F WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE,TEXAS 76262 * WWW.WESTUAKE-TX.ORG General Maintenance & Replacement Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Other Sources Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll / Salaries Payroll Related & Benefits Payroll Transfers In Payroll Transfers Out Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Operating Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES Transfers Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget Vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 2,000 1,795 3,795 550,000 6,250 556,250 201,412 201,412 201,412 201,412 2,000 1,750 3,750 275,000 275,000 1,264,000 1,264,000 1,264,000 1,264,000 0% 0% 0% 0% 0% 0% 0% - 0% 2,000 0% - 0% 0% 0% - 114% 2,000 0% - 0% 0% 0% 0% 0% 0% 0% 0% - 0% 0% 0% 1,750 1,750 0% 0% 1,750 1,750 550,000 275,000 0% 550,000 275,000 250%1 902,955 2,000 1,750 3,750 275,000 275,000 1,264,000 1,264,000 1,264,000 1,264,000 0% 0% 0% 0% 0% 0% 0% - 0% 2,000 0% - 0% 0% 0% - 114% 2,000 0% - 0% 0% 0% 0% 0% 0% 0% 0% - 0% 0% 0% 0% 0% 0% 0% 0% 0% 250% 902,955 250%1 902,955 250% 902,955 0% 07. 250% 902,955 IEXCESS REVENUES OVER(UNDER) EXPENDITURES 358,633 32,024 (84,295) (985,250) 1069% (900,955) FUND BALANCE, BEGINNING 880,415 1,239,048 1,239,048 1,154,753 -7% (84,295) FUND BALANCE, ENDINGJENOW-_1,239,048 1,271,072 11154,753 169,503 -85% (985,250) Restricted/Assigned/Committed Funds 1,239,048 1,271,072 1,154,753 169,503 -85% (985,250) UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Committed Funds A Cash 600 10110 00 000 A Cash EMS 600 10110 14 101 TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 1,239,048 0 1,239,048 1,271,072 1 1,132,753 0 1 22,000 1,271,072 I 1,154,753 213 147,503 22,000 T69,503 -87%1 (985,250)1 0%1 0 FUND OVERVIEW GENERAL MAINTENANCE & REPLACEMENT FUND The General Maintenance & Replacement Fund was created to provide a mechanism for the long term repair and replacement of large capital assets such as HVAC, walls, floors and ceilings, plumbing, electric, roadways, etc. This fund receives planned portions of revenues from each operating fund that owns and maintains capital assets to set aside for future capital repair and replacement. This helps to avoid future bond programs and encourages a more conservative pattern of spending in light of uncertain future revenues. Currently, because of our financial situation, the fund is not being able to be used as we had anticipated. This fund supports systematic facility repairs and major maintenance projects funded by operating transfers from other Town funds. Project lists are developed annually from a long- range facility maintenance schedule, and incorporated into a routine schedule for maintenance and replacement of major facility equipment and infrastructure and permanent capital assets. Revenues and Transfers In • FY14/15 revenues are $278,750; A 1% increase of $2,000 from the FY 13/14 estimated budget of $276,750 Expenditures/Projects • FYI 4/15 expenditures are $1,264,000; A 250% increase of $902,955 from the FY 13/14 estimated budget of $361,045. As can be seen below the majority of the increase is related to the purchase of an Engine/Pumper and a building addition to the fire station to house it. General - Maintenance and Replacement Fund 5 Year Projection Actuals Estimated do Apted Projection Description 2003.2013 FY 13.14 FY 14-15 I FY 15-16 1 FY 16-17 1 FY 17-18 1 FY 18-19 1 TOTALS TOTALS REVENUES AND OTHER SOURCES 3,900 10,000 38,000 it 11L I 51,900 Environmental Upgrade Grant 6,250 - - -immi - - - - - 6,250 Firefighter Equipment Fees 2,000 - 2,000 2,000 2,000 2,000 2,000 81000 12,000 Interest Income 4,584 1,750 1,750 1,750 1,750 1,750 1,750 7,000 15,084 Transfer in from GF 1,765,738 275,000 275,000 275,000 225,000 225,000 225,000 950,000 3,265,738 Transfer in from V&E 129,374 - - - - - - - 129,374 Transfer in from OF 10,000 - - - - - - - 10,000 Transfer in from PTR TOTAL REVENUES AND OTHER SOURCES 64,274 - - - - - - - $ 278,750 $ 228,750 $ 228,750 $ 228,750 $ 965,000 64,274 GENERAL MAINTENANCE/REPLACEMENT PROJECTS 3,900 10,000 38,000 - - - - - 51,900 Ambulance Box, Chassis and Equipment 200,000 - - - - - - - 200,000 Fire Chief Vehicle 49,084 - - - - - - - 49,084 Engine/Pumper - - 700,000 - - - - - 700,000 Fire Dept Building Addition - - 30,000 - - - - - 30,000 Dept 14 -Total Fire/EMS 249,084 - 730,000 - - - - - 979,084 Illuminated Street Signs 3,900 10,000 38,000 - - - - - 51,900 Wyck Hill Pavement Resurface - - - - 54,450 - - 54,450 54,450 Dept 16 -Total Public Works 3,900 10,000 36,000 - 54,450 - - 54,450 106,350 WA -Irrigation System 15,607 15,250 15,000 3,000 - 10,000 - 13,000 58,857 WA-Carpet/VCT Flooring 3,445 15,000 15,000 15,000 - 10,000 5,000 30,000 63,445 WA -Ext Environmental Improvements lrrig 8,112 5,000 30,000 - 7,000 - - 7,000 50,112 WA-Envrnmt Bldg UG light/water 25,899 2,500 10,000 10,000 - 5,000 10,000 25,000 63,399 WA -Exterior Paint & Wood R&M 32,818 10,000 11,000 5,000 - 8,000 8,000 21,000 74,818 WA-Painting/Cloth Wall R&M 4,325 10,000 15,000 10,000 8,000 10,000 8,000 36,000 65,325 WA -Roof Repairs 10,936 5,000 10,000 8,000 - 5,000 9,000 22,000 47,936 WA -Parking Lot 17,282 - 28,000 - 10,000 - - 10,000 55,282 WA -Refurbish Classrooms 75,204 23,795 25,000 25,000 30,000 25,000 30,000 110,000 233,999 WA -Update Security System 15,370 25,000 10,000 - 5,000 5,000 25,000 35,000 85,370 WA -Update Security Cameras 7,857 - 5,000 - 6,000 10,000 - 16,000 28,857 Interior Building R&M 2,800 5,000 10,000 - 12,000 8,000 - 20,000 37,800 WA -15 Ton Split HVAC System 14,399 10,000 15,000 - 12,000 - 15,000 27,000 66,399 WA -2 Ton Roof Top Un its 11,903 15,000 40,000 5,000 - 10,000 5,000 20,000 86,903 WA -AC ton/7.5 ton server room - - - 6,000 - - 5,000 11,000 11,000 WA -Heater Boilers 23,870 22,000 10,000 - 7,000 5,000 - 12,000 67,870 WA -HVAC System Replacement - 4,000 5,000 5,000 13,000 - 10,000 28,000 37,000 WA -Plumbing Repair/Replacement - 5,000 5,000 5,000 5,000 - 9,000 19,000 29,000 Contribution Exp to WA - Facilities - 40,000 - - - - - - 40,000 Contribution Exp to WA -Technology - 50,000 - - - - - - 50,000 Facilities Maintenance Vehicle - 45,000 12,000 - - - 45,000 45,000 102,000 WA Playground Equipment - - 145,000 - - - - - 145,000 Park R&M - - 25,000 - - - - - 25,000 Dept 17 -Total Facilities & Grounds Maintenance 269,828 307,545 441,000 97,000 115,000 1 111,000 i 184,000 507,000 1,525,373 Trail Repairs 4,900 5,000 15,000 10,000 10,000 1 10,000 1 10,000 1 40,000 1 64,900 Dept 19 - Total Parks and Recreation 4,900 5,000 15,000 10,000 10,000 10,000 1 10,000 1 40,000 64,900 Servers & Network Storage 33,250 5,000 - - - 7,500 - 7,500 45,750 Network Printers/Peripheal Dev 630 5,000 5,000 5,000 5,000 10,000 - 20,000 30,630 Network Equipment 6,028 18,500 20,000 20,000 20,000 30,000 - 70,000 114,528 Server Replacements 8,763 - 10,000 10,000 10,000 10,000 - 30,000 48,763 Phone System/Peripheal Devices 9,651 10,000 5,000 7,500 10,000 15,000 - 32,500 57,151 Dept 20- Total Information Technology 58,322 38,500 40,000 42,500 45,000 72,500 - 160,000 296,822 1 169,503 298,753 303,053 338,303 1,239,048) 1,154,753 1169,503 1 298,753 303,053 338,303 373,053 215 WESTLAKE ACADEMY VALUES LL VISION ,. w _- MISSION STRATEGY TIAL TQWN Of- 11M1!'ESYLAKE * 3 VILLAGE CIRCLE 3#202 * WESTLAKE, TEXAs 76262 " WW1h1APUESTLAKL-MCIRG 0 Westlake Academy Program Summary - All Funds Fiscal Year 2014/2015 REVENUES & OTHER SOURCES Federal Program Revenues State Program Revenues Local Revenues Total Revenues Other Sources Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES 61 Payroll Related & Benefits 62 Professional & Contracted Services 63 Supplies and Materials 64 Other Operating Costs 65 Debt Service Operating Expenses Total Expenditures Other Uses Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 12/13 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 11/12 81,958 4,648,649 1,205,931 5,936,538 40,959 40,959 5,977,497 4,339,742 865,171 268,069 290,634 5,763,616 40,959 40,959 5,804,575 73,896 5,782,092 1,711,305 7,567,293 45,000 45,000 7,612,293 5,618,025 1,064,256 672,890 363,967 84,186 7,803,324 45,000 45,000 7,848,324 1,063,379 67,722 80,008 4,855,506 5,034,023 1,538,434 1,922,443 289,989 325,917 1214% 6,405 0% 0% - 0% 0% 0% 0% 0% 0% 0% - 6,461,662 7,036,474 45,000 331,266 45,000 331,266 6,506,662 7,367,740 73,896 5,782,092 1,711,305 7,567,293 45,000 45,000 7,612,293 5,618,025 1,064,256 672,890 363,967 84,186 7,803,324 45,000 45,000 7,848,324 1,063,379 4,832,464 5,196,595 882,229 935,779 385,613 503,367 289,989 325,917 1214% 6,405 0% 0% - 0% 0% 0% 0% 0% 0% 0% - 6,390,295 6,968,063 45,000 331,266 45,000 331,266 6,435,295 7,299,329 73,896 5,782,092 1,711,305 7,567,293 45,000 45,000 7,612,293 5,618,025 1,064,256 672,890 363,967 84,186 7,803,324 45,000 45,000 7,848,324 EXCESS REVENUES OVER(UNDER) EXPENDITURES 172,923 71,367 1 68,411 (236,031) -445% (304,442) FUND BALANCE, BEGINNING 1,063,379 8% 421,430 1476 128,477 347o 169,523 12% 38,050 1214% 77,781 0% 0% - 0% 0% 0% 0% 0% 0% 0% - 12% 835,261 -86% (286,266) -86% (286,266) 8% 548,995 EXCESS REVENUES OVER(UNDER) EXPENDITURES 172,923 71,367 1 68,411 (236,031) -445% (304,442) FUND BALANCE, BEGINNING 1,063,379 819,090 FUND BALANCE,, ENDING 125,000 992,012 Restricted/Assigned/Committed Funds 61 - UNASSIGNED FUND BALANCE, ENDING 992,012 # of Operating Days 63 Restricted/Assigned/Committed Funds A Technology/FFE A Uniform/Equipment Replacement ITOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 992,012 992,012 1,063,379 1,060,425 1007. 125,000 1,063,379 1,060,425 61 56 217 01 0 1,060,425 824,394 125,000 699,394 33 125,000 125,000 7% 68,413 -22% (236,031) 1007. 125,000 -34% (361,031) -42% (23) FUND OVERVIEW WESTLAKE ACADEMY This fund was incorporated into the Town's budget beginning in FY 2010-11. Westlake Academy opened its doors in September 2003 when the Town of Westlake officials took advantage of the State of Texas' acceptance of chartered schools and thus, became the first and only municipality in the state to receive a chartered school designation. As a chartered school, Westlake Academy is an open enrollment public school. In 2008 the Texas Education Agency (TEA) renewed the Academy's charter until 2016. The officials who pioneered the school also decided to follow another brave path in offering the globally recognized International Baccalaureate (IB) curriculum. Westlake Academy is owned and operated by the Town of Westlake and is the largest operating department of the Town. The TEA requires a separate budget be submitted to the state. A portion of that budget is now incorporated into the Town's annual budget. The Academy's fiscal year begins on September 1 st and ends of August 31 st. Revenues and Other Sources FY 2014-15 adopted revenues and other sources are $7,612,293 Expenditures and Other Uses • FY 2014-15 adopted expenditures and other uses total $7,848,324 Fund Balance FY 2014-15 ending fund balance is projected to be $699,394 KIM Executive Summary August 11, 2014 Honorable President and Board Trustees Westlake Academy 2600 J. T. Ottinger Road Westlake, TX 76262 Transmittal of FY 2014/15 Westlake Academy Budget "Reaching New Heights Together ... One School, One Community" As Superintendent of Westlake Academy, I am submitting for your consideration the Budget for FY 2014/15. This Budget for Westlake Academy encompasses all teaching and extra -curricular operating expenditures as well as State public school funding and private donations used to support the daily school operations of Westlake Academy. This FY 2014/15 All Funds Budget totals $7,803,324 representing a 12% increase from the prior year primarily due to increasing the number of classes in the PYP Programme (Kindergarten, Grade One, and Grade Three) as well as completion Phase I of the Master Plan and staffing changes in the MYP and DP Programme. The adopted FY 2014/15 budget decreases the fund balance by $236,031 with an ending balance of $824,393. With the continued support of the Town and Westlake Academy Foundation, the Academy will be able to balance the budget beyond the five-year forecast. Westlake Academy anticipates state public education funding to maintain levels of 2013/14, approximately $6,840 per student. Figure 1 -All Funds Budget Summary Estimated Adopted IFY 12014/15 (Decrease) (Decrease) Beginning Fund Balance $ 992,012 $ 1,060,424 $ 68,412 7% Revenues 7,036,474 7,567,293 530,818 8% Expenditures 6,968,062 7,803,324 835,262 12% Net Revenues over (Under) Expenditures 68,412 (236,031) (304,444) Other Resources 331,266 45,000 (286,266) -86% Other Uses (331,266) (45,000) 286,266 -86% Ending Fund Balance $ I.1 (236,031) Assigned $ - $ 125,000 $ 125,000 Ending Fund Balance (Unassigned) $ 1,060,424 $ 699,393 $ (361,031) .34% # Days Operating (Based on 365) 56 33 (23) -41% Daily Operating Expense $ 19,091 $ 21,379 $ 2,288 12% 219 Budget Presentation I welcome the opportunity to present and discuss operational plans and related financial impact with all interested parties. Interaction among interested groups consistently leads to operational and educational improvements which become available to the students and parents of Westlake Academy. The development, review, and consideration of the 2014/15 Governmental Fund Budgets (the General Fund, and Special Revenue Funds) were completed with a detailed and exhaustive review of every revenue and expenditure item within the context of the Academy's Vision, Mission and Values statements, Strategic Planning efforts, and Board Policy. The budget document and the year-end annual audit are the primary vehicles to present the financial plan and the results of operations at the Academy. The budget document is organized into the following sections: • Introductory Section — Introduces the reader to the document as a whole. It highlights important information contained in the budget. Users rely on this section to get an overview — a snapshot of what they can expect to find in the rest of the document. • Organizational Section — Provides the context and framework within which the budget is developed and managed. The context for the budget is substantially predicated on the type and level of service to be provided the students of the Academy. The framework also includes the Academy's organizational and financial structure as well as the controls that direct and regulate the development and administration of the budget. • Financial Section — Presents the heart of the Academy's budget document. The budget financial schedules present the adopted budget for the Academy compared with the results of past budget plans and with future projections. • Informational Section — Contains information on past and future budgets and factors influencing the adopted budget. It puts the adopted budget into context and it explains past budget decisions. 220 Westlake Academy Mission, Vision & Values Westlake Academy is a public charter school offering the International Baccalaureate (IB) curriculum. Founded in 2003, with a mission to achieve academic excellence and develop life-long learners who become well-balanced, responsible global citizens, Westlake Academy is the first and only municipally - owned school in the state to receive a charter designation. Westlake Academy is the fifth school of only ten in the United States, and the only public school, to offer the full IB curriculum for grades K-12. During this year's budget retreat great care and consideration were given to the mission and vision of the Academy and the impact that these have on both the long-term goals of the Academy and its day- to-day operation. The vision and mission statements represent the outcome of this discussion and evidence the Board's continued dedication to academic excellence and personal achievement. The values statements are currently being reviewed by the Board and are listed here for reference only. MISSION: "Westlake Academy is an IB World School whose mission is to provide students with an internationally minded education of the highest quality, so they are well-balanced and respectful life-long learners." VISION: "Westlake Academy inspires college bound students to achieve their highest individual potential in a nurturing environment that fosters the traits found in the IB learner profile." Inquirers, Knowledgeable, Thinkers, Communicators, Principled, Open-minded, Caring, Risk -takers, Balanced, and Reflective— VALUES Maximizing Personal Development Academic Excellence Respect for Self and Others Personal Responsibility Compassion and Understanding The following desired outcomes summarize the goals and objectives established by the Board of Trustees and leadership staff at the Academy. Desired Outcomes High Student Achievement Strong Parent & Community Connections Financial Stewardship & Sustainability Student Engagement -Extracurricular Activities Effective Educators & Staff 221 Board Members and Administration The Westlake Academy Board of Trustees consists of five trustees and the Board President. Each member of the Board serves a two year term with two members and the president being elected on alternate years. Several members of the Westlake Academy Leadership Team operate under a shared service agreement with the Town of Westlake and serve dual roles. Board of Trustees Laura Alesa Michael Rick Carol Wayne Wheat Belvedere Barrett Rennhack Langdon Stoltenberg Board President -----------------------------------------Board of Trustees ---------------------------------------- Westlake Academy Leadership Team *Thomas E. Brymer, Superintendent of Schools Mechelle Bryson, Executive Principal Rod Harding, Primary Years Principal Andra Barton, Middle Years Principal Andra Barton, Director of Curriculum and Instruction Benjamin Nibarger, Administrative Coordinator Alan Burt, Director of Athletics Shelly Myers, Exec. Director of the WAF/Director of Development Kristy Wilkinson, MYP Coordinator Alison Schneider, PYP Coordinator Christopher Hill, DP Coordinator *Ginger Awtry, Director of Communications & Community Affairs *Amanda DeGan, Assistant Town Manager *Troy Meyer, Director of Facilities *Debbie Piper, Director of Finance *Todd Wood, Director of Human Resources & Administrative Services *Asterisk denotes shared services personnel between Westlake Academy and the Town of Westlake 222 Budget Framework - "Governing and Managing for Outcomes" The budget document is but one part of a system designed to link together critical governance and management decision making tools. This system is called "Governing and Managing for Outcomes" and is designed to integrate: • Strategic planning • Five (5) year financial forecasting, budgeting, and performance measurement linked to priorities, objectives, and outcomes • Reporting to monitor progress in outcome achievement and accountability for results Budget Process • Aligning resources to prioritized outcomes • Long term approach to ensure financial sustainability • Working within Board adopted financial policies for the Academy • Maintaining core services The process of projecting the budgeting needs of the Academy is a continual process that responds to the changing needs of the Academy students and staff as well as changes in the fiscal environment such as the reduced State funding from FY 2009/10. The process of developing the Academy budget for fiscal year 2014/15 began with the Westlake Board of Trustees meeting that was held in February of 2014. Following is a summary of the main steps taken in preparation of the adopted budget. BOARD OF TRUSTEE BUDGET REVIEW The Board of Trustees regularly receives quarterly budget updates, some of which are detailed in the trend analysis and the five-year financial forecast discussed later in this document. Upon receipt of the adopted annual budget, the Board holds budget workshops to review adopted changes, their associated outcomes for the next fiscal year, as well as their impact in a five (5) year financial forecast. BUDGET ADOPTION The Board of Trustees holds the required public meeting and adopts the budget in August prior to beginning the fiscal year which runs from September 1st to August 31st. BUDGET AMENDMENTS The Final Amended Budget for the Year Ending August 31, 2014 will be submitted at the August, 2014 Board meeting. It will reflect all amendments previously approved by the Board of Trustees plus any final amendments. Often, these amendments influence the shaping of the current budget as actual trends in revenues and expenditures are realized and accounted for. 223 Figure 2 Budget Process Timeline Description of Activities October - December Strategic Plan preparation process occurs December Westlake Academy Leadership Team (WALT) begins planning FY 14/15 Budget January WALT meets with WA affiliates for joint planning for FY 2014/15 January - March Develop CIP, Five Year Projection & Personnel Cost Estimates February Broad overview of 2014/15 Budget with BOT April Develop improvement plans for each grade level/dept. May 17 Strategic Plan preparation process occurs, preliminary budgets developed June 7th Current Budget Review June - July BOT Budget Retreat August 11th BOT consideration/adoption of Westlake Academy FY 2014/15 Budget September - August Budget Amendments for FY 2013/14 Fall 2014 Begin strategic plan update/review process for FY 2015/16 January 2014 Annual Financial Report for FY 2013/14 AcademyApproach The Academy approach to coping with the combination of fast student growth in a restricted funding environment along with increasing academic standards requires that the budget process is instructionally driven and guided by the Academy's Strategic Plan. During the budget development process the staff reviewed all revenues and expenditures and focused on aligning the allocation of resources, both personnel and financial, with the accomplishment of established goals and objectives. 224 Explanation & Summary of Major Budget Components REVENUES The revenues received by Westlake Academy are classified into one of three broad categories: Federal, State or Local. State funding is the Academy's largest revenue source making up over 78% of revenues from all funds. Staff estimates that the average level of total state aid paid through the Foundation School Program (FSP) in FY 2014/15 will be approximately $6,840 per student; approximately the same funding level as the FY 2013/14. As an open -enrollment charter school, Westlake Academy has the ability to establish specific class sizes and set limitations on secondary boundary enrollment. Enrollment for FY 2014/15 is projected at 822 students in accordance with the current plan to attempt to maintain eighteen (18) students per class in kindergarten through fifth -grade and twenty-five (25) students per class in sixth -grade through twelfth -grade. Federal funding is received through grants that support special education and is approximately one percent (1%) of revenues for all funds. Local funding consists of two major sources, the Town and the Westlake Academy Foundation. As a municipally -owned charter school Westlake Academy does not have taxing authority; the Town of Westlake is responsible for debt service and capital improvements, these costs are estimated at $2,137,954 for FY 2014/15. The Westlake Academy Foundation is an independent non-profit organization that raises funds through donations and fund raising; the FY 2014/15 forecast is $1.1 million. EXPENDITURES Compensation and benefits are the largest operating cost for Westlake Academy. The current teacher pay scale is based on the Board policy of being within 3% of the median of the nine (9) surrounding public school districts. Per Board direction, the salary scale had a 1.5% pay increase for all faculty and staff members in the FY 2013/14, and staff is recommending a 2% pay increase for all faculty and staff members in the FY 2014/15 school year. The increase for all applicable staff equals $149,743 (approximately 3%, including step -increases). The shared services model that the Academy operates under with the Town of Westlake provides administrative services. These costs were previously booked to the Westlake Academy operating budget, but were removed from the Academy operating budget in the FY 2012/13 school year. The following table illustrates the indirect operating costs of running the Academy which are booked to the Town of Westlake's General Fund and Debt Service Fund. Figure 3 - Overall Total Cost Summary — All Governmental Funds and Municipal Debt Service Payments AdoptedEstimated Overall Cost1 Operating Expenditures $6,668,062 $7,503,324 Municipal -Transfer to WA Operating Budget 390,000 315,000 Sub -Total 7,058,062 7,818,324 Annual Debt Service Payment (paid from Municipal budget) 1,935,529 2,137,954 Major Maintenance and Replacement 165,000 71,000 In -direct Operating Costs 325,000 450,500 Grand Total All Costs $9,483,591 $10,477,778 225 Other Considerations MULTI-YEAR FINANCIAL FORECAST Due to increased student enrollment, slight increases in State of Texas public education funding, additional support from the Westlake Academy Foundation and the Town of Westlake, the Academy anticipates that its Fund Balance will remain above the TEA'S recommended 45 days. Figure 4 — Revenues, Expenditures & Fund Balance — General Fund Summary Historically, revenues and expenditures have increased at relatively the same rate which has dictated the need for a higher fund balance in order to sustain the 45 -day minimum requirement established by Board policy. PROGRAMS & FACILITIES Over the last three fiscal years, the Academy has increased course offerings in a number of areas, including, foreign languages, theater arts, technology, and science. This expansion of programs and facilities was primarily funded through the student expansion in the secondary programme. The increased offerings necessitated additional facilities in the form of three portable classroom buildings. During this same timeframe, the Academy has completed and the Board of Trustees adopted a Facility Master Plan. This plan provides a clear understanding of future growth needs at the Academy. The Facility Master Plan can be viewed on the Academy's or the Town of Westlake's website. The Academy is completing Phase 1 of the Academy's expansion plan, which will be placed in service in FY 2014/15. This includes three additional buildings, a secondary classroom building, a multi- purpose hall, and field house. These additional facilities will allow the ti Academy to accommodate approximately 820 students as new }� student enrollment occurs. ,�~- WA Program Growth N $9 o $8 5; $7 $6 $5 $4 $3 $2 $1 $ FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17 Actual Actual Actual Actual Estimated Adopted Estimated Estimated ■ Revenues $4,280,723 $4,608,573 $5,244,170 $5,640,930 $6,635,473 $7,445,897 $7,518,245 $7,633,265 ■ Expenditures $3,917,886 $4,518,107 $5,287,757 $5,496,177 $6,611,593 $7,554,617 $7,609,617 $7,609,617 ■ Fund Balance $767,491 $914,660 $814,487 $959,240 $1,239,386 $1,130,666 $909,295 $932,943 Historically, revenues and expenditures have increased at relatively the same rate which has dictated the need for a higher fund balance in order to sustain the 45 -day minimum requirement established by Board policy. PROGRAMS & FACILITIES Over the last three fiscal years, the Academy has increased course offerings in a number of areas, including, foreign languages, theater arts, technology, and science. This expansion of programs and facilities was primarily funded through the student expansion in the secondary programme. The increased offerings necessitated additional facilities in the form of three portable classroom buildings. During this same timeframe, the Academy has completed and the Board of Trustees adopted a Facility Master Plan. This plan provides a clear understanding of future growth needs at the Academy. The Facility Master Plan can be viewed on the Academy's or the Town of Westlake's website. The Academy is completing Phase 1 of the Academy's expansion plan, which will be placed in service in FY 2014/15. This includes three additional buildings, a secondary classroom building, a multi- purpose hall, and field house. These additional facilities will allow the ti Academy to accommodate approximately 820 students as new }� student enrollment occurs. ,�~- Financial Summary The budget is developed within the guidelines predicated by the Texas Education Agency and is organized into a series of accounts called funds. The total revenue for all funds for the Academy is estimated to be $7,567,293 and total expenditure appropriations amount to $7,803,324. The following schedules present a comparison of revenues and expenditures for all Governmental Funds in the Academy's Budget. Budgets for the General Fund, the Food Service Fund (a Special revenue Fund) and the Debt Service Fund must be included in the official district budget (legal or fiscal year basis). The Academy does not maintain a Food Service Fund or a Debt Service Fund; therefore; the only fund legally adopted will be the General Fund. For informational purposes only, budgets for Special Revenue Funds are included throughout the presentation. Figure 5—Table: Revenue Summary — All Governmental Funds Adopted Estimated Adopted Variance Audited Audited Audited Budget Budget Budget Estimated to FY 10111 FY 11112 FY 12113 FY 13114 FY 13114 FY 14115 Adopted REVENUES Federal Program Revenues $ 157,445 $ 152,351 $ 81,958 $ 67,722 $ 80,008 $ 73,896 $ (6,112) State Program Revenues 3,945,658 4,362,921 4,648,649 4,855,506 5,034,023 5,782,092 748,069 Local Revenues 874,206 1,237,004 1,205,931 1,538,434 1,922,443 1,711,305 (211,138) 4,977,309 5,752,276 5,936,538 6,461,662 7,036,474 7,567,293 530,818 Figure 6 — Graph: Revenue Summary — All Governmental Funds REVENUES State Program Revenues 76% Local Revenues 23% Federal Program Revenues 1% The largest revenue source for Westlake Academy is State Foundation School Program funding which makes up approximately three-quarters of All Governmental fund revenues. 227 Figure 7 Table: Expenditure Summary -AII Governmental Funds Adopted Estimated Adopted Variance Audited Audited Audited Budget Budget Budget Estimated EXPENDITURES (BY FUNCTION) FY 10111 FY 11112 FY 12113 FY 13114 FY 13114 FY 14115 to Adopted 11 - Instructional 2,764,022 3,170,372 3,458,117 3,633,683 4,079,186 4,621,940 542,755 12 - Resources & Media 73,398 89,129 57,784 60,785 66,170 66,252 81 13 Staff Development 111,933 74,656 130,924 144,154 147,157 129,589 (17,568) 21 Instructional Leadership 125,265 135,962 93,965 185,339 207,093 237,967 30,874 23 - School Leadership 294,931 347,515 341,524 456,515 553,655 660,620 106,966 31 Guidance & Counseling 165,245 232,419 244,899 238,786 280,680 246,539 (34,141) 33 Health Services 53,513 60,917 58,208 58,620 63,634 68,711 5,078 35 Food Services - 11,517 - 15,116 - 500 500 36 - CoCurricular/ Extra. Activities 7,275 131,972 125,137 221,087 164,079 171,255 7,176 41 Administrative 105,472 675,763 363,547 362,289 389,170 343,835 (45,335) 51 Maintenance & Operations 301,672 596,913 614,041 674,112 725,907 956,091 230,185 53 Data Processing 525,273 173,587 160,695 247,719 177,766 105,015 (72,751) 61 Community Services 154,962 76,880 86,844 92,091 107,162 110,824 3,662 71 Debt Service 69,739 - - - 6,405 84,186 77,781 81 Facility Acquisition/Construction 132,286 15,960 27,930 - - - - Total Expenditures 4,884,985 5,793,560 5,763,616 6,390,294 6,968,062 7,803,324 835,262 Excess (Deficiency) of Revenues 92,325 (41,285) 172,923 71,368 68,412 (236,031) (304,444) Over (Under) Expenditures Figure 8- Expenditure Summary -All Governmental Funds Expenditures by Object 61XX - Payroll & Related Items �._ 72% 4 62XX - Contracted Services 14% NOW, 65XX - Debt Service 63XX - Supplies & 1% 64XX - Other Operating Materials 5% 8% The largest expenditure category is Payroll & Related items which makes up approximately three-quarters of all Governmental fund expenditures. 228 Budget Trends GENERAL FUND - STATE FUNDING Despite a 4% historical average annual growth rate, the State of Texas continues to lag behind the national average for per pupil funding, providing $1,000 to $1,500 less per pupil than the national average. Due to its Charter status, Westlake Academy receives less State funding per student than other non -charter public schools because public charter schools in the State of Texas do not receive facility funding. The Academy's State funding per pupil peaked in FY 09-10 with cuts in the following two years due to state budget short -falls. The state increased funding by approximately four percent (4%) in 2013. In FY 2014/15, the Academy anticipates that state funding will remain flat from FY 2013/14. Westlake Academy receives minimal federal funding (IDEA B — Special Education Funds) depending primarily upon state education funds and private donations to cover operating costs. The 2013 legislative session increased per student funding, but less than half the cut seen in the 2011 legislative session. As the single largest expenditure in the state's budget, it is likely that any possible future reductions in spending may negatively impact public education funding. Due to prior state funding reductions, the Academy has become more dependent upon the private donations for operating costs and further financial support from the Town of Westlake. Funding ongoing operating costs with one-time dollars raised through private donations places the Academy in a potentially tenuous situation. If private donations do not meet the levels necessary to offset public education reductions, then the Town of Westlake must increase financial support or consider reducing levels of service. Figure 9 - Average Funding per Student Average Funding per Student 12,000 11,000 10,838 10,000 - 9,000 _ 8,000 8,348 8,283 7,000 7,214 -- 6,817 6,000 5,000 4,809 4,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 National Avg. Texas Westlake Academy The difference between the amount of Texas State funding and Westlake Academy is the amount dedicated to facilities funding. Public charter schools in Texas do not receive facility funding. 229 The largest funding sources for Westlake Academy continue to be State funding and the Westlake Academy Foundation. State funding was 86% of General Fund revenues in FY 09/10 and are currently approximately 78%, while Westlake Academy Foundation contributions have climbed from less than 10% to approximately 17% of the Academy's total General Fund Revenues in FY 2014/15. Figure 10 - General Fund Revenues by Source Revenues by Source Transportation/Parking 1,800 M 1,600 V) 3 s 1,400 1,200 1,000 800 600 400 200 M I& r FY 11/12 FY 12/13 FY 13/14 FY 13/14 FY 14/15 GENERAL FUND - LOCAL FUNDING Athletic Activities Town Contribution - Westlake Reserve ■Town Contribution ■ Food Services ■ Interest Earned ■ WAF Fund -an -Item WAF Donation Other Local Revenue WAF Salary Reimbursement The WAF Annual Program contributions have increased each year since FY 06/07. The average contribution per student has increased sharply in response to the public education funding decreases. WAF contributions are anticipated to reach $1.1 million in FY 2014/15. Figure 11 — WAF Annual Nrograrn Contribution.. $1,200 $1,000 $800 0 $600 $400 $200 WAF Annual Program Contributions FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Estimated Adopted The FY2014115 WAFAnnual Program contribution of $1,100,000 is based upon prior years giving. 230 Service Level Adjustments This budget makes use of Service Level Adjustments (SLA's) to track any cost changes. These cost changes will fall into one of four categories: first, increased operating costs to maintain current levels of service; second, increased operating costs due to expanded levels of service; third, increased costs due to the development of new services, and fourth, cost savings. Cost savings may occur for any number of reasons, but primarily arise due to increased efficiency, service level reductions, or not expending the budgeted resources. Generally speaking, Service Level Adjustments (SLA's) in this budget fall into the category of increased operating costs for existing programs. Some SLA's are due to existing program expansion, such as increasing the number of staff and facilities. SLA's involving new expenditure areas to target for recommendation to the Board for FY 2014/15, staff recommended several areas for adjustments: Salary Related Expenditures Desired Outcome: High Student Achievement Total: $439,787 In FY 2014/15 we will have 91.8 full-time equivalent employees (FTE's), an increase of 14.62 FTEs. The increase in expenditures is the result of a combination of adding new positions, the years of experience of our new teachers, an increase in unemployment insurance and other employer contributions, as well as the increased cost associated with staffing. With addition of approximately 100 new students, staffing increases were necessary. Approximately $149,743 is related to the 2% salary increase. • Asst. to Executive Principal (.50) • PYP Kindergarten (1.0) • PYP Grade 1 (1.0) • PYP Grade 2 (1.0) • Primary Art (.50) • Strings Staff (.67) • Secondary Theater Arts (-.75) • Special Education (1.0) • Grade 6 (1.0) • Secondary Art (.50) • Secondary English (1.0) • Secondary Humanities (-.50) • Secondary Economics (1.0) Professional & Contracted Services Desired Outcome: High Student Achievement • Secondary Math (2.0) • Secondary Science (-.16) • Secondary Phys. Ed (.50) • Speech (-.17) • Counselors (-.30) • Teaching Aides (1.93) • Director of Student Life (1.0) • Director of Curriculum (.50) • IT Tech (-.70) • Office Aide (1.10) • Lunchroom Personnel (-.40) • Day Porter (1.4) • Salary Adjustments ($86,400) Total: $126,960 Professional and contracted services rendered to the Academy by firms, individuals, and other organizations. These represent the approximate services that are rendered for the Academy. • Instructional Services ($-4,830) • School Leadership ($-450) • Staff Development ($7,000) 231 • Guidance & Counseling ($-15,457) • Health Services ($855) • Facility & Maintenance ($143,105) • Admin Services ($-763) • Data Processing ($-2,000) Supplies & Materials Total: $233,301 Desired Outcomes: Effective Educators & Staff — High Student Achievement Supplies and materials costs are associated with consumables that are used in the classroom, maintenance of the campus, books, Wads, testing materials, furniture, and classroom supplies. • Instructional ($210,223) • Food Services ($500) • Resource & Media ($2,900) • Admin Services ($-1,775) • School Leadership ($-500) • Facility & Maintenance ($15,413) • Health Services ($140) • Data Processing ($4,500) • Counseling Services ($2,400) Other Operating Costs Total: $65,194 Desired Outcome: Effective Educators & Staff — High Student Achievement Other operating costs are associated with insurance, professional development, travel, membership fees and dues, graduations expenses, and miscellaneous costs. • Instructional (-$5,500) • Instructional Leadership ($-5,710) • Resource & Media (-$500) • School Leadership ($-6,250) • Staff Development ($27,589) • Guidance & Counseling ($1,304) • Admin Services ($5,881) • Facility & Maintenance ($45,939) • Resource & Media ($4,830) • Community Services ($-2,950) Debt Service Costs Total: 77,781 Desired Outcome: Effective Educators & Staff — High Student Achievement • Wad Lease Payment ($77,781) 232 Individual Fund Summary GENERAL FUND The General Fund is a governmental fund with budgetary control which is used to show transactions resulting from operations of on-going organizations and activities from a variety of revenue sources. FY 2014/15 Adopted: Revenues = $7,445,897 Expenditures = $7,554,617 Figure 12 aevenue & Exp�a'oditure Cor., aarisort _neral Fund Revenue & Expenditure Comparison Ln $8 r o $7 u, $6 $5 3 v rn „n $4 N Ln Ln00 — in N $3 $2 $1 $_ FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Audited Audited Audited Audited Estimated Adopted ■ Revenue ■ Expenditure Revenues have exceeded expenditures over the last two fiscal years. This is due to increased donations from the Westlake Academy Foundation and the State's increase in public education funding, approximately a four percent (4%) increase. 233 SPECIAL REVENUE FUNDS The Speciol Revenue Funds are the funds that account for local, state and federally financed programs or expenditures legally restricted for specified purposes or where unused balances are returned to the grantor at the close of a specified project period. Figure 13 - Special Revenue Funds SPECIAL REVENUE FUNDS Federal Grants through TEA Fund 224 - IDEA B Sub -total Federal Grants State Grants through TEA Fund 410 - Material Allotment Disbursement Sub -total State Grants Local Activities Fund 461 - Local Campus Activity Fund 483 - International Symposium (HOC & WAF) Fund 484 - Local Grants (HOC & WAF) Sub -total Local Activities Hudson Foundation Grants Fund 481 - Hudson Foundation Curriculum Development Fund 485 - MYP Principal & Discretionary Funds Fund 498 - Director of Curriculum & Instruction Sub -total Hudson Foundation Grants Westlake Academy Foundation (WAF) Grants Fund 486 - Support Math Teacher Fund 487 - Recruit & Retain Legacy Teachers Fund 497 - Financial Assistance Sub -total Foundation Grants Grant Total - All Special Revenue Funds 234 Variance Estimated Adopted Estimated FY 13114 FY 14115 to Adoptec $ 80,777 $ 92,331 $ 11,554 80,777 92,331 11,554 55,442 - (55,442) 55,442 - (55,442) 29,680 4,092 40,298 32,000 - - 2,320 (4,092) (40,298) 74,070 32,000 (42,070) 28,449 6,637 69,345 7,551 106,825 - (20,898) 100,188 (69,345) 104,431 114,376 9,945 25,000 15,000 1,750 - 7,500 2,500 (25,000) (7,500) 750 41,750 10,000 (31,750) $ 356,469 $ 248,707 $ (107,762) Informational Summary CHANGES IN DEBT Debt service for the Academy's capital infrastructure is included in the Town of Westlake's municipal budget. $28,415,800 in debt has been issued to develop these facilities; this debt will be retired in 2043. The average annual debt service for Academy facilities paid by the Town of Westlake is approximately $2,140,000. FACILITIES The Academy was originally designed and built to service approximately 675 students, with the addition of almost 150 students; the facilities at the Academy are projected to reach full capacity at the beginning of the FY 2014/15 school year. However, curriculum and course schedules play an equally important role in determining facility use; the IB curriculum places a unique demand on staff and resources. Phase -one of the Facility Master Plan placed three new portable classroom buildings and three additional purpose built facilities scheduled to be placed in service in the FY 2014/15 school year. These buildings will house a new secondary school building, a multi-purpose hall, and field house. The additional facilities will allow space for additional student enrollment. PERSONNEL TRENDS The Academy has added personnel each year since its opening to support new grade levels and classes as well as curriculum expansion. In FY 2014/15 an additional 14.62 FTE positions for a total of 91.8 FTE employees. 35 Figure 14 - Westlake Academy FTE Staff Employee Growth (FTE) 100 91.80 90 73.07 77.18 80 69.53 60.44 70 55.62 60 50.10 --- 44.60 50 37.00 40 30 20 10 FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Actual Actual Actual Actual Actual Actual Actual Actual Adopted ■ Primary Programme ■ Secondary Programme ■ Business Admin ■ Special Education ■ Instructional Administration ■ Librarian / Aide ■ Counseling ■ Information Tech A Nurse ■ Facilities ■ Instructional Aides ■ Intern Staff levels have increased steadily since the Academy opened in FY 03/04 as the program offerings and each grade level is fully filled. The Academy added 14.62 instructional FTE positions. SUDENT ENROLLMENT TRENDS Westlake Academy's student enrollment is established by two sets of boundaries. The primary boundary encompasses the Town of Westlake and allows Westlake residents automatic entry into Westlake Academy. The secondary boundaries are comprised of 31 of the surrounding school districts. While any school-age child from these districts is allowed to attend the Academy, demand for entrance has exceeded the Academy's capacity necessitating an annual lottery system that is carried out according to the standards and practices dictated by Federal law. Student enrollment has grown since the Academy's opening in FY 03/04 with the addition of one new grade level each year. The Academy opened with Grades 1 through 6 and completed adding grade levels in FY 09-10. The Academy's enrollment continued to expand in FY 10/11 with an increase in target class sizes of 20 pupils per class and the addition of a third section in the secondary programme. In FY 2014/15 the campus facilities at the Academy are expected to reach full capacity. Due to growth in the primary boundary, the Academy placed three additional portable buildings in service in FY 2013/14 and three purpose built facilities in FY 2014/15. This additional facility space will allow the Academy to service approximately 850 students, as growth in the primary boundary necessitates new enrollment. As an open enrollment charter school, Westlake Academy has the ability to set and maintain enrollment numbers at levels determined by the Board of Trustees. The Academy currently has over 2,000 students on a waiting list spanning Kindergarten through grade eleven. The waiting list which is developed each 236 year through a lottery process, allows the Academy to fill seats if student attrition occurs, maintaining a stable student population number and classroom size. Figure 15 - Westlake Academy Student Enrollment WA Student Enrollment 1000 822 800 630 658 697 600 379 417 491 530 400 346 200 0 FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 Adopted Total enrollment has increased steadily since FY 03/04 in harmony with the expansion of grade levels. The increase from 530 in FY 10/11 to 610 in FY 11/12 is due to the Board's decision to expand class sizes in an effort to increase program offerings. With the completion of Phase 1, the Academy will be adding approximately 120 new students in FY 2014/15. WORKING LEAN Given the new paradigm of decreasing State aid and increasing demand, Westlake Academy and the Town of Westlake is committed to providing for the long-term viability of its program by maintaining municipal financial support where needed if future budgets stop short, utilizing and bolstering donations made by the Blacksmith Campaign and the Westlake Academy Foundation, and continuing a focus on financial stewardship in the school's operations and expenditures. These initiatives combined with a thoughtfully crafted financial forecast will help to foresee future negative indicators of decreased funding and ensure that a quality, IB curriculum will continue to be offered to the students of the Academy for years to come. Performance Results In FY 2013/14, Westlake Academy was recognized by the Washington Post as one of the best public high schools in the country. This is the third year in which the Academy has been recognized by national ranking organizations due to rigorous and extraordinary academic performance. The State of Texas is currently phasing out the use of the Texas Assessment of Knowledge and Skills (TAKS) test to assess students' attainment of reading, writing, math, science, and social studies skills required under Texas education standards; Its replacement, the State of Texas Assessments of Academic Readiness (STAAR) exam has increased rigor over the TAKS and complies with the requirements of the No Child Left Behind Act (NCLB). The charts below utilize TEA data to compare Westlake Academy's performance historically, as well as against the state performance. 37 Description FY 06107 FY 07108 FY 08109 FY 09110 FY 10111 FY 11112 FY 12113 FY 13114 Reading/ELA 99% 98% 99% 100% 98% 99% 99% 99% Writing 99% 91% 93% 100% 96% 99% 95% - 1 Social Studies 99% 95% 98% 100% 99% 99% 99% 99% 76% Mathematics 95% 91% 93% 98% 94% 96% 91% 96% 95% Science j 78% j 88% j 96% j 99% j 99% j 99% j 99% j 97% Mathematics Texas Accountability Rating Recognized Recognized Exemplary ryExem la ryExem la ryExem la ryExemplary 88% 50% - Science - 90% 45% - % Commended 2005 2006 2007 2008 2009 2010 2011 2012 2013 Reading/ELA 57% 60% 61% 61% 51% 56% 56% 48% 17% Writing 54% 58% 51% 34% 55% 43% 40% - 8% Social Studies - 67% 44% 53% 58% 65% 44% 72% - Mathematics 45% 48% 43% 44% 40% 46% 37% 47% 21% Science 30% 34% 31% 45% 45% 43% 65% 40% - The table above shows the Academy's performance on the state's standardized test from inception. The TEA rolled out a new state assessment the STAAR (State of Texas Assessments of Academic Readiness). TAKS will be phased out over the next year. Grade Level Grade 3 Grade 4 Grade 5 Grade 6 Grade 7 Grade 8 2012 - Standard Phase -In Phase -In Phase -In Phase -In Phase -In Phase -In 1 Final 1 Final 1 Final 1 Final 1 Final 1 Final Reading 82% 44% 88% 69% 95% 76% 93% 73% 93% 73% 98% 85% Writing - - 95% 60% - - - - 93% 63% - - Mathematics 67% 22% 79% 21% 100% 71% 92% 63% 88% 50% - Science - 90% 45% - - - - 91% 67% Social Studies - - 84% 34% 2013 - Standard Phase -In Phase -In Phase -In Phase -In Phase -In Phase -In 2 Final 2 Final 2 Final 2 Final 2 Final 2 Final Reading 78% 59% 73% 54% 88% 72% 95% 85% 87% 68% 93% 83% Writing - - 75% 50% - - - - 75% 49% - - Mathematics 59% 50% 58% 23% 86% 74% 84% 73% 67% 54% - - Science - - - - 74% 43% - - - 78% 51% Social Studies - - - 60% 31% 2014 - Standard N = T d v E 5 T d v E 5 T d v E T d v E 5 T d v E 5 T d v E m d E m E m d E m E m d E m d E N N 16 R O U N N R R O U N N M R O U N N R R O U N N M R O U N N M M O U L L a a d 0: L L a a N 0: L L a a d W L L a a d W L L a a d 0: L L a a G1 Cr Reading 93% 79% 68% 91% 77% 57% 98% 89% 72% 98% 93% 84% 97% 93% 83% 95% 89% 77% Writing - - - 93% 81% 72% - - - 94% 93% 69% - - - - - - Mathematics 70% 54% 35% 80% 63% 41% 100% 94% 76% 98% 91% 78% 93% 84% 60% - - - Science 94% 81% 55% - - - - 87% 79% 61% Social Studies 80% 61% 28% The table above provides the Academy's performance data on the first two -years of the STAAR assessment. The State has increased the rigor of the state assessment and has developed a phased grading system. The minimum performance level will be increased each year, until FY 2014/15. The table shows the relative overall performance with the phased -in and final measures. 238 Financial Allocation Study for Texas. DISTRICT LISTINGS WEST SABINE ISD SABINE 649 METSTANDARD 22 16 14M____ + LOW WESTBROOK ISD MITCHELL 219 METSTANDARD 77 62 73■000u + VERY HIGH = ** {* ( WESTHOFFISD DEWITT 69 METSTANDARO 17 52 3000___ + VERY HIGH = WESTLANEACADEMY CHARTER SCHOOL (C) TARRANT 670 METSTANDARD 69 97 930000■ + LOW WESTPHALIA ISO FALLS 155 METSTANDARD 92 47 + HIGH WESTWOOD ISO ANDERSON 1,619 METSTANDARD 72 44 61 MEa0 + AVERAGE WHARTON ISD WHARTON 2,132 METSTANDARD 47 24 33EME- + AVERAGE Westlake Academy has achieved a four and one-half star rating from the Texas State Comptroller's FAST School District Rating System for providing quality education at a reasonable cost per student. Future enrollment increases will further improve efficiencies and reduced the per student cost. Benchmarking against the surrounding local ISDs, Westlake Academy's expenditures are near the median when comparing expenditures per student excluding debt service and capital expenditures. PARENT SURVEY RESULTS Westlake Academy is focused on delivering high quality educational services and depends upon the constant input from stakeholders. Each year Westlake Academy conducts an Annual Parent Survey to help identify any future needs and to prioritize resource allocation. The FY 2012/13 Westlake Academy Parent Survey was conducted in June 2013 and saw a slight decrease in satisfaction (3%). Primary concerns were with the Middle Years Programme Curriculum and Faculty. The results will be utilized to help craft improvement plans for the upcoming two -years. Westlake anticipates completing a parent satisfaction survey every other year to continue to track overall performance and satisfaction. Overall Satisfaction with Quality of Education Very Satisfied or Satisfied Dissatisfied 81% 3% Neutral 16% IRMW 81% of the parent's surveyed were very satisfied or satisfied with the overall quality of education Westlake Academy delivers to its students. 239 .'fid.../ The Association of School Business Officials International (ASBO) has presented a Meritorious Budget Award to Westlake Academy for four consecutive years. Additionally, the Academy received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA); representing the fifth year the Academy has received this award. These awards represent a significant achievement that reflect the dedication and commitment the Board of Trustees and staff have given to meeting the highest principles of governmental accounting. These awards are valid for one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to ASBO and GFOA to determine its eligibility. SUMMARY Westlake Academy has faced a number of hurdles over the last several years, decreased state funding, increased rigor in state assessments, recruitment and retention of legacy teachers, facility issues, and unprecedented growth, but through all of this, the students, staff, and faculty have shown an enormous amount of determination to continually hold to our vision and rise to any challenge. It is with this in mind that we present the FY 2014/15 budget theme, "Reaching New Heights Together ... One School, One Community." Over the last year, many hours have been spent to further develop our vision of the future; determining the best opportunities that lay before us to help us accomplish our mission and truly become a "shining school on the hill." While we have many successes to celebrate, we are constantly striving to improve the Academy through multiple avenues, including: getting the right people on the bus, making sure that we are consistently taking measure of our course, and making adjustments as we move towards our goal; it is through our talented faculty, staff, students, and their supportive families, that we are able to unfailingly rise to the challenges, and hold to our vision. On behalf of our entire learning community, I would like to thank the Board for their leadership, dedication to excellence, and their support in making Westlake Academy and the Town of Westlake, truly a shining example of what can be accomplished when people come together with a common purpose: great things can happen! As with all good teams, it becomes necessary to draw attention to performers who go above and beyond to make sure we accomplish our goals. I would like to recognize the hard work of the Westlake Academy and Municipal Leadership Team, and specifically Debbie Piper and Ben Nibarger for their efforts in completing this award winning document. I know with the team we have in place, we will continue "Reaching New Heights Together ... One School, One Community." 1�41R mm, Thomas E. Brymer Town Manager/Superintendent Westlake Academy 240 This page is intentionally blank 241 CAPITAL PROTECTS 6 `� FUND INIT Y ADOPTED 09-22-2014 GOALS ALUIE - VISION - MISSION STRATEGY THE TowN OF WESTIAEKE * 3 VILLAGE CIRCLE #202 * ESTLAaKE,TExAs 76262 * WWW.WESTLAKE—TX.ORG Capital Projects Fund Program Summary Fiscal Year 2014/2015 REVENUES & OTHER SOURCES General Sales Tax Property Tax Hotel Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Other Sources Bond Proceeds PROPOSED Total Other Sources TOTAL REVENUES &O EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Expenditures Capital Outlay Capital Projects Total Capital TOTAL OPERATING AND CAPITAL EXPENDITURES Transfer Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted E58maied Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 5,844,927 5,844,927 5,844,927 5,844,927 7,400 320,000 327,400 1,150,000 1,125,000 2,275,000 2,602,400 3,301,000 3,301,000 3,301,000 3,301,000 0% 0% 0% 0% 0% 0% 0% 0% ss -ss 1839% 303,500 0% rr rr 100% 1,150,000 100% 1,125,000 100% 2,275,000 1,838,484 1,704,120 7,400 320,000 327,400 1,150,000 1,125,000 2,275,000 2,602,400 3,301,000 3,301,000 3,301,000 3,301,000 0% 0% 0% 0% 0% 0% 0% 0% 0% 1839% 303,500 0% 1270% 303,500 100% 1,150,000 100% 1,125,000 100% 2,275,000 1,838,484 1,704,120 1,838,484 1,704,120 1,838,484 1,704,120 - 200,000 - 200,000 1,838,484 1,904,120 7,400 320,000 327,400 1,150,000 1,125,000 2,275,000 2,602,400 3,301,000 3,301,000 3,301,000 3,301,000 EXCESS REVENUES OVER(UNDER)EXPENDITURES (941,967) (1,574,584) (1,880,220) (698,600) -637. 1,181,620 FUND BALANCE, BEGINNING 3,580,803 2,638,835 2,638,835 758,615 FUND BALANCE, ENDING 2,638,835 1,064,251 758,616 60,015 Restricted/Assigned/Committed Funds 2,638,835 1,064,251 758,616 60,015 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Commifled Funds C Cash/CD's 410 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FJMMMW 243 -71% (1,880,220) -92% (698,601) -92% (698,601) 0% 1 -92%1 (698,601) 1 0% 0% 0% 0% 0% 0% 0% 0% 0% 1839% 303,500 0% 1270% 303,500 100% 1,150,000 100% 1,125,000 100% 2,275,000 10789% 2,578,500 EXCESS REVENUES OVER(UNDER)EXPENDITURES (941,967) (1,574,584) (1,880,220) (698,600) -637. 1,181,620 FUND BALANCE, BEGINNING 3,580,803 2,638,835 2,638,835 758,615 FUND BALANCE, ENDING 2,638,835 1,064,251 758,616 60,015 Restricted/Assigned/Committed Funds 2,638,835 1,064,251 758,616 60,015 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Commifled Funds C Cash/CD's 410 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FJMMMW 243 -71% (1,880,220) -92% (698,601) -92% (698,601) 0% 1 -92%1 (698,601) 1 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% - 94% 1,596,880 94% 1,596,880 947. 1,596,880 -100% (200,000) -100% (200,000) 73% 1,396,880 EXCESS REVENUES OVER(UNDER)EXPENDITURES (941,967) (1,574,584) (1,880,220) (698,600) -637. 1,181,620 FUND BALANCE, BEGINNING 3,580,803 2,638,835 2,638,835 758,615 FUND BALANCE, ENDING 2,638,835 1,064,251 758,616 60,015 Restricted/Assigned/Committed Funds 2,638,835 1,064,251 758,616 60,015 UNASSIGNED FUND BALANCE, ENDING Restricted/Assigned/Commifled Funds C Cash/CD's 410 10110 00 000 TOTAL RESTRICTED/ASSIGNED/COMMITTED FJMMMW 243 -71% (1,880,220) -92% (698,601) -92% (698,601) 0% 1 -92%1 (698,601) 1 FUND OVERVIEW CAPITAL PROJECTS FUND This fund tracks the infrastructure and building projects funded with general fund operating transfers, intergovernmental revenue, bond funds and other special fund sources. Capital projects are those projects over $25,000 that may extend over one fiscal year to complete and reflect multiple expense categories such as engineering, design and construction. All capital projects illustrate not only the expenditure and revenue sources, but ongoing operational impact. Completion of CIP projects may have a fiscal impact to the Town's operating funds as routine maintenance and operational expenditures are necessary to utilize the completed project. When an operating impact has been identified, it is included on the project description sheet, and costs are projected for the next three years. Upon approval of the project for an annual expenditure, the fiscal impact is integrated into the operating budget. Revenues and Other Sources • FY 2014-15 revenues and other sources are $2,602,400. • This represents an increase of $2,578,500 from the FY 2013-14 estimated budget of $23,900. o Contributions relating to the FM 1938 Streetscape Improvements totaling $250,000 o Anticipate bond proceeds of approximately $1,125,000 for the acquisition of land for the Fire Station complex o Transfers in of $1,150,000 for various capital projects Expenditures • FY 2014-15 expenditures total $3,301,000 Proj No. Description CP20 FM 1938 Streetscape/Wayfinding $1,000,000 CP34 S. Roanoke Road Recon & Drainage 453,000 CP40 Sam School Road Recon & Drainage 266,000 CP41 E. Dove Road Recon & Drainage (Vaq - TB) 100,000 CP50 Trail and Park Improvements 195,000 CP55 Outdoor Warning System 99,000 CP62 Water Line & Well Improvements 63,000 CP64 Fire Station Complex 1,125,000 TOTAL CAPITAL PROJECT EXPENSE $3,301,000 Fund Balance FY 2014-15 ending fund balance is projected to be $60,015 244 Capital Projects Fund 5 Year Projection Estimated Adopted Projection Proj No. Description FY 13-14 FY 14-15 FY 15-16 1 FY 16-17 1 FY 17-18 1 FY 18-19 TOTALS TOTALS REVENUES AND OTHER SOURCES _ CP20 Town Improvements 200,000 320,000 - 402,016 CP30 Contributions 114/170 Enhancements - - 160,000 160,000 309,622 CP47 Hwy 377 Westport Parkway Sign 16,500 - 16,500 Contributions - TSH Proceeds - - - 400,000 Interest Income 7,400 7,400 4,000 3,500 7,500 65,520 Transfer in from GF - 1,150,000 600,000 480,000 - 1,080,000 5,749,714 CP65 Bond Proceeds - Maintenance/Storage Facility - - - 20,000 20,000 20,000 CP64 Bond Proceeds - Fire Station Complex 1,125,000 6,688,145 6,688,145 7,813,145 Bond Proceeds - 2,600,000 - 2,600,000 2,600,000 Bond Proceeds - - - 604,000 $ 3,243,500 $ $ 6,708,145 $ 10,555,645 2,095,000 TOTAL REVENUES AND OTHER SOURCES 99,000 CAPITAL PROJECTS _ Transfer out to WA Exp 200,000 200,000 CP20 FM 1938 Streetscape/Wayfinding 1,687,600 11000,000 - - 3,747,955 CP30 SH 114/Hwy 170 Enhancements 7,500 840,467 840,467 1,079,900 CP31 Stagecoach Hills Street Recon & Drainage 9,020 - - 498,900 CP34 S. Roanoke Road Recon & Drainage - 453,000 455,900 CP40 Sam School Road Recon & Drainage 266,000 266,000 CP41 E. Dove Road Recon & Drainage (Vaq - TB) 100,000 414,945 414,945 514,945 CP50 Glenwyck Farms Park Improvemen 195,000 - - 195,000 CP52 Trail - Westlake Academy to Cemetery - - 276,100 276,100 276,100 CP53 Trail - Dove/Pearson/Aspen - 273,600 273,600 273,600 CP55 Outdoor Warning System 99,000 - - 99,000 CP57 Ottinger Road Bridge Creek Crossing - 330,000 330,000 330,000 CP58 Ottinger Road Recon/Drainage - 572,710 572,710 572,710 CP60 Pearson Lane Recon/Drainage - 381,250 - 381,250 381,250 CP62 Water Line & Well Improvements 63,000 - - 63,000 CP64 Fire Station Complex 1,125,000 6,688,145 6,688,145 7,813,145 CP65 Maintenance & Storage Facility TOTAL PROJECT 20,000 20,000 / $ 6,708,145.1, 20,000 Fund Balance Beginning Fund Balance Ending $ (1,880,220) 1 $ (698,600) 2,638,835 758,616 0 1 8 758,616 60,016 249,070 1 997,253 8118,443 798,443 245 FUNDED CAPITAL IMPROVEMENT Project Description: Project consist of the design and construction of landscape and hardscape improvements to the FM 1938 corridor from SH 114 south to Randol Mill Road, including sidewalks, �e trailheads, signage, rest areas, plantings, entry monuments. Per developer's agreements:`- - Fidelity is to provide funding for landscape enhancements to the median and ROW (est. $322K). The Town is required to install sidewalk on the west side of FM 1938 from Dove P to SH 114 per the Fidelity developer's agreement at our cost. Utility cost is for irrigation only. A reduction to the total project cost of $670,000 is due to a direct payment to the e contractor from TxDot in the form of a grant. Project also includes the cost for streetscaping along FM 1938 between Dove and Solana at the Granada development 1111 1611VIA119"I • • t FUNDING TYPE EXPENDITURE TYPE Totals Thru FY 12113 Estimated FY 13/14 5 Year Projection Project Total FY 14115 FY 15116 FY 16117 FY 77/78 FY 18/19 Engineering 127,980 - - - - 3,297,222 - - 127,980 Construction 932,375 1,687,600 Insurance 408,000 Bonds 2013/14 CO - 2,619,975 Design - Repair & Maintenance 42,733 Unfunded - - Contingency - - - Rent & Utilities (water only) - Other - - Granada DevAgreement - - 1,000,000 Debt Service FUNDING TOTAL 1,060,355 1,000,000 - - - 3,747,955 5,000 5,150 5,305 5,464 5,628 5,796 32,342 EXPENDITURES TOTAL 1,060,355 1,687,600 1 1,000,000 3,747,955 1111 1611VIA119"I • • t FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18119 Cash/Transfers 972,355 1,687,600 637,267 - - - - 3,297,222 Contributions (Fidelity) 88,000 - 320,000 Insurance 408,000 Bonds 2013/14 CO - 42,733 Repair & Maintenance 42,733 Unfunded - - - - - Rent & Utilities (water only) - Other - - - 5,628 5,796 32,342 Debt Service FUNDING TOTAL 1,060,355 1 1,687,600 1 1,000,000 - - - 3,747,955 1111 1611VIA119"I • • t IMPACT TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - Services - Insurance Repair & Maintenance - - - - - - Rent & Utilities (water only) 5,000 5,150 5,305 5,464 5,628 5,796 32,342 Debt Service - - - - - - OPERATING IMPACT 5,000 5,150 5,305 5,464 5,628 5,796 32,342 IN FUNDED CAPITAL IMPROVEMENT Project Description: The project will provide stabilization of road subgrade and 6" of asphalt to approximately 4,000 LF of Roanoke Road and replace/improve culverts and ditches, consistent with 2011 Graham Pavement Evaluation Study. Project improvements will be from Highway 170 south to the Town Limits. Foresee crack sealing during the 2nd year after completion. • •- EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15116 FY 16/17 FY 17/18 F FY 18/19 Engineering Construction 2,900 - - - 50,000 - - 403,000 - - - - - 52,900 - 403,000 Design - - Contingency - - - Other - - - Insurance - 2,900 Bonds 2014/15 CO - - 4,796 4,940 5,088 - Other EXPENDITURES TOTAL 2,900 453,000 455,900 • •- FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Cash/Transfers - - 453,000 - - - - 453,000 Contributions/Grants - - - Bonds 2011 CO $2.095M 2,900 Insurance - 2,900 Bonds 2014/15 CO - - 4,796 4,940 5,088 - Other - - - - Debt Service FUNDING TOTAL 2,900 453,000 OPERATING IMPACT 4,796 455,900!_ • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - Services - Insurance - - Repair & Maintenance 4,796 4,940 5,088 14,824 Rent & Utilities - - Debt Service - - - OPERATING IMPACT 4,796 4,940 5,088 14,824 247 FUNDED CAPITAL IMPROVEMENT Project Description: The project will provide stabilization of road subgrade and 6" of asphalt to approximately 2,000 LF of Sam School Road and replace/improve culverts and ditches, consistent with 2011 Graham Pavement Evaluation Study. Anticipate crack sealing 2nd year from completion. Includes 150 linear feet of sidewalk. Staff is working with the Southlake developer to include the Westlake section of Sam School Road reconstruction when the Southlake portion is realigned and reconstructed in 2014/2015. • •- EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15116 FY 16/17 FY 17/18 FY 18119 Engineering Construction - - 41,800 - - - 224,200 - - - - - 41,800 224,200 - Design - - Contingency - Services Other - - - 260,000 Insurance 260,000 Unfunded - Repair & Maintenance EXPENDITURES TOTAL 266,000 266,000 • •- FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Cash/Transfers - - - - - - - - Contributions/Grants Services Bonds 2014/15 CO - 260,000 Insurance 260,000 Unfunded - Repair & Maintenance Other - - FUNDING TOTAL Debt Service 260,000 260,000 • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - Services - Insurance Repair & Maintenance Rent & Utilities Debt Service OPERATING IMPACT 248 FUNDED CAPITAL IMPROVEMENT Project Description: The project will provide stabilization of road subgrade and 6" of asphalt to approximately 6,500 LF of Dove Road and replace/improve culverts and ditches, consistent with 2011 Graham Pavement Evaluation Study. Anticipate crack sealing 2nd year from completion. Staff is working with the Southlake developer to include a portion of this project when the Southlake portion is realighed and reconstructed in 2014/2015. • FUNDING TYPE EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14115 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Engineering Construction - - - 105,000 - 100,000 309,945 - 105,000 - 409,945 Design - - - - - - Contingency - - Other - - Bonds 2014/15 CO - Insurance 100,000 - 100,000 Unfunded Repair & Maintenance - EXPENDITURES TOTAL 100,000 414,945 - 514,945 • •- FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Cash/Transfers - - - 414,945 - - - - 414,945 Contributions/Grants - 4,047 - Bonds 2014/15 CO 12,509 Insurance 100,000 - 100,000 Unfunded Repair & Maintenance - - - - - Other - 11,564 11,911 12,268 35,743 Debt Service FUNDING TOTAL - 100,000 414,945 15,611 514,945 • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - Services 4,047 4,168 4,293 12,509 Insurance - - Repair & Maintenance - - - - Rent & Utilities 11,564 11,911 12,268 35,743 Debt Service - - - OPERATING IMPACT 15,611 16,079 16,562 48,252 249 FUNDED CAPITAL IMPROVEMENT Project Description: Purchase of playground equipment, benches and ammmenities to be located along the current Glenwyck Farms and Terra Bella trail systems. This project would include mile markers, lighting and way finding signs etc. • •- EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15116 FY 16/17 FY 17/18 FY 18/19 Engineering Construction - - 10,000 - - - 175,000 - - - - - - 10,000 - 175,000 Design - - Contingency - - 1,061 1,093 - Consultant 10,000 - - 10,000 258 266 274 282 290 1,370 Repair & Maintenance 1,030 Unfunded 1,126 - 5,468 EXPENDITURES TOTAL 195,000 2,060 195,000 • •- FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 1 FY 17/18 FY 18/19 Cash/Transfers - - 195,000 - - - - 195,000 Contributions/Grants 1,061 1,093 1,126 - 5,468 - Bonds 2014/15 CO $4.1 M 258 266 274 282 290 1,370 Repair & Maintenance 1,030 Unfunded 1,126 - 5,468 - 2,060 - 2,251 Other 10,937 Debt Service - OPERATING IMPACT 5,408 FUNDING TOTAL 5,909 6,087 28,712 195,000 195,000 • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - 1,030 1,061 1,093 1,126 1,159 5,468 Services 1,030 1,061 1,093 1,126 1,159 5,468 Insurance 258 266 274 282 290 1,370 Repair & Maintenance 1,030 1,061 1,093 1,126 1,159 5,468 Rent & Utilities 2,060 2,122 2,185 2,251 2,319 10,937 Debt Service - OPERATING IMPACT 5,408 5,570 5,737 5,909 6,087 28,712 250 FUNDED CAPITAL IMPROVEMENT Project Description: EXPENDITURE TYPE This project includes a 2" irrigation line and the update of the Estimated 5 Year Projection water well by adding a 2,500 gallon water tank and upgrade FY 13/14 FY 14/15 FY 15116 to the current well pump at the white house across from the FY 17/18 F FY 18/19 Cemetery and the 5 acre tract to water trees and - - 5,000 - - - 45,000 - landscaping. The project would also include surveying and 5,000 45,000 scanning two sections. Design • - EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15116 FY 16/17 FY 17/18 F FY 18/19 Engineering Construction - - 5,000 - - - 45,000 - - - 5,000 45,000 - Design - 5,000 - - - 5,000 Contingency (trees) 3,000 - 3,000 Other (ground scan) 5,000 - - 5,000 7,182 Insurance - - Unfunded Repair & Maintenance - EXPENDITURES TOTAL 63,000 2,060 63,000 mWill• •- FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 1 FY 17/18 FY 18/19 Cash/Transfers - - 63,000 - - - - 63,000 Contributions/Grants - 2,000 - Bonds 2017/18 CO $2.58M 7,182 Insurance - - Unfunded Repair & Maintenance - 1,000 2,000 2,060 2,122 7,182 Other - - - - FUNDING TOTAL - - 63,000 - OPERATING IMPACT 2,000 63,000 mWill• •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Supplies - - - - - - Services 1,000 2,000 2,060 2,122 7,182 Insurance - - - Repair & Maintenance 1,000 2,000 2,060 2,122 7,182 Rent & Utilities - - - Debt Service - - - - OPERATING IMPACT 2,000 4,000 4,120 4,244 14,364 251 FUNDED CAPITAL IMPROVEMENT Project Description: Promote Community Health, Safety, and Welfare is a focus point in the Strategic Plan. Within that focus point is the Strategic Issue "Public Safety and Emergency Preparedness" The strategy is to provide a safe community for our residents and business partners. Building an effective Emergency Warning Notification System will enhance the Town's ability to ensure the safety of the community. An Outdoor Warning System will provide notification of approaching severe storms to the active outdoor population such as school children, joggers, golfers, workers, citizens engaged in outdoor activities around their homes, etc. • •- EXPENDITURE TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14115 FY 15116 FY 16117 FY 17/18 F FY 18/19 Engineering Construction - - - - - - - - - Design - - - - - - - Contingency - - - Other (Equipment) 99,000 - - 99,000 - Bond Issuance - - - Repair & Maintenance Unfunded - 1,000 EXPENDITURES TOTAL 99,000 1,093 99,000 • •- FUNDING TYPE Totals Thru FY 12113 Estimated FY 13114 5 Year Projection Project Total FY 14115 FY 15116 FY 16117 FY 17118 FY 18119 Cash/Transfers - - 99,000 - - - - 99,000 Contributions/Grants - - - Bond Issuance - - - Repair & Maintenance Unfunded - 1,000 - 1,061 1,093 1,126 5,309 Rent & Utilities Other 900 927 - 983 4,665 Debt Service - - - - FUNDING TOTAL - - OPERATING IMPACT 99,000 1,930 1,988 2,048 2,109 9,974 99,000 • •- IMPACT TYPE Totals Thru FY 12/13 Estimated 5 Year Projection Project Total FY 13/14 FY 14115 FY 15116 FY 16/17 FY 17/18 FY 18119 Supplies - - - - - - Services - Insurance - - - Repair & Maintenance - 1,000 1,030 1,061 1,093 1,126 5,309 Rent & Utilities 300 600 900 927 955 983 4,665 Debt Service - - - - - - - OPERATING IMPACT 300 1,600 1,930 1,988 2,048 2,109 9,974 252 FUNDED CAPITAL IMPROVEMENT Project Description: This project will provide a 14,000 square foot fire station including four bays, sleeping area, meeting room, kitchen, storage and two offices. ($300/sq ft) This project would also include the Town's EOC with back-up _T' r generator. The project includes the the acquisition of land and foundation r - upgrades. It does not include any costs for new vehicles or training facility. WmLa.16lix, ••• • EXPENDITURE TYPE Totals Thru FY 12113 Estimated 5 Year Projection Project Total FY 13/14 FY 14/15 FY 15/16 FY 16117 FY 17/18 FY 18/19 Engineering - - - - - - 73,600 73,600 Construction inc. inflation Contributions/Grants - 5,317,545 5,317,545 Design Bonds 2014/15 CO 1,125,000 534,500 534,500 FF&E Bonds 2018/19 200,000 200,000 IT/Security Unfunded - - 212,500 212,500 Contingency FUNDING TOTAL 1;125,000 4 100,000 100,000 Other (Foundation) - - 250,000 250,000 Lana rurcnase tz.o ac Cti $450K) 1,125,000 - 1,125,000 EXPENDITURES TOTAL 1,125,000 6,688,145 7,813,145 ••• • FUNDING TYPE Totals Thru FY 12/13 Estimated FY 13/14 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Cash/Transfers - - - - - - - Services Contributions/Grants - 6,560 6,560 - Bonds 2014/15 CO 1,125,000 1,100 - 1,125,000 Bonds 2018/19 54,000 6,688,145 6,688,145 Unfunded - 16,500 - - FUNDING TOTAL 1;125,000 4 - 6,688,145 7,813,145 • •• • IMPACT TYPE Totals Thru FY 12/13 Estimated FY 13114 5 Year Projection Project Total FY 14/15 FY 15/16 FY 16117 FY 17/18 FY 18119 Supplies - - - 4,371 4,371 Services 6,560 6,560 Insurance 1,100 1,100 Repair & Maintenance 54,000 54,000 Rent & Utilities 16,500 16,500 Debt Service - - OPERATING IMPACT - 82,531 82,531 253 WESTLAKE ACADEMY �XPANSION FUND %& . 41f ITw Y V* 09-22-2014 �fv AM -+ W. MOALS VALUES I ION - ti MISSION STRATEGY C THE TOWN OF WESTLAKE * 3 VILLAGE CIRCLE ##202 * WESTLAKE, TExAS 76262 * W'VWW.WESTLAKE-TX,ORG Westlake Academy Expansion Fund Program Summary Fiscal Year 2014/2015 REVENUES 8 OTHER SOURCES General Sales Tax Property Tax Charges for Services Beverage Tax Franchise Fees Permits & Fees Fines & Forfeitures Investment Earnings Contributions Misc Income Total Revenues Transfers In Other Sources Bond Proceeds Total Other Sources TOTAL REVENUES & OTHER SOURCES EXPENDITURES & OTHER USES Payroll Salaries Payroll Insurance Payroll Taxes Payroll Retirement Payroll Transfers Total Payroll and Related Supplies Services Insurance Repair & Maintenance Rent & Utilities Interfund Advances Debt Total Expenditures Capital Outlay Capital Projects Total Capital TOTAL EXPENDITURES AND CAPITAL Transfer Out Total Other Uses TOTAL EXPENDITURES & OTHER USES Adopted Estimated Adopted Adopted FY 14/15 Actual Budget Budget Budget vs FY 12/13 FY 13/14 FY 13/14 FY 14/15 Estimated FY 13/14 5,647 1,000,000 1,005,647 8,579,237 8,579,237 9,584,885 123,316 123,316 1,706,690 1,706,690 1,830,006 36,398 36,398 1,866,405 440,000 440,000 440,000 902,805 902,805 902,805 902,805 0% 0% 0% 0% 0% 0% 0% 5,000 5,000 - 66,000 - 8,500 5,000 79,500 500,000 830,000 100% 466,775 500,000 1,296,775 505,000 1,376,275 440,000 440,000 440,000 902,805 902,805 902,805 902,805 0% 0% 0% 0% 0% 0% 0% -100% (5,000) -100% (66,000) -100%1(8,500) -100% (79,500) 100% (390,000) 100% (466,775) -66% (856,775) -68% (936,275) 7,795,950 8,191,950 7,795,950 8,191,950 7,795,950 8,191,950 0% 0% 7,795,950 8,191,950 440,000 440,000 440,000 902,805 902,805 902,805 902,805 EXCESS REVENUES OVER(UNDER)EXPENDITURES 7,718,480 (7,290,950) (6,815,675) (462,805) 1 -93% 6,352,870 FUND BALANCE, BEGINNING - 7,718,480 7,718,480 902,805 FUND BALANCE, ENDING 7,718,480 427,530 902,805 440,000 Restricted/Assigned/Committed Funds 7,718,480 427,530 902,805 440,000 UNASSIGNED FUND BALANCE, ENDING 100% (6,815,675) -51% (462,805) -51% (462,805) 0% Restricted/Assigned/Committed Funds C Cash/CD's 410 10110 00 000 7,718,480 427,530 902,805 440,000 -51% (462,805) 0% 0% 0% TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 7,718,480 F 427,5301 902,805 440,0 255 0% 0% 0% 0% 0% 0% 0% -100% (5,000) -100% (66,000) -100%1(8,500) -100% (79,500) 100% (390,000) 100% (466,775) -66% (856,775) -68% (936,275) EXCESS REVENUES OVER(UNDER)EXPENDITURES 7,718,480 (7,290,950) (6,815,675) (462,805) 1 -93% 6,352,870 FUND BALANCE, BEGINNING - 7,718,480 7,718,480 902,805 FUND BALANCE, ENDING 7,718,480 427,530 902,805 440,000 Restricted/Assigned/Committed Funds 7,718,480 427,530 902,805 440,000 UNASSIGNED FUND BALANCE, ENDING 100% (6,815,675) -51% (462,805) -51% (462,805) 0% Restricted/Assigned/Committed Funds C Cash/CD's 410 10110 00 000 7,718,480 427,530 902,805 440,000 -51% (462,805) 0% 0% 0% TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 7,718,480 F 427,5301 902,805 440,0 255 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -89% (7,289,145) -89% (7,289,145) -89% (7,289,145) 0% 0% -89% (7,289,145) EXCESS REVENUES OVER(UNDER)EXPENDITURES 7,718,480 (7,290,950) (6,815,675) (462,805) 1 -93% 6,352,870 FUND BALANCE, BEGINNING - 7,718,480 7,718,480 902,805 FUND BALANCE, ENDING 7,718,480 427,530 902,805 440,000 Restricted/Assigned/Committed Funds 7,718,480 427,530 902,805 440,000 UNASSIGNED FUND BALANCE, ENDING 100% (6,815,675) -51% (462,805) -51% (462,805) 0% Restricted/Assigned/Committed Funds C Cash/CD's 410 10110 00 000 7,718,480 427,530 902,805 440,000 -51% (462,805) 0% 0% 0% TOTAL RESTRICTED/ASSIGNED/COMMITTED FUNDS 7,718,480 F 427,5301 902,805 440,0 255 FUND OVERVIEW WESTLAKE ACADEMY EXPANSION FUND Bond Proceeds of $8.5M were received in FY 12/13. These proceeds were used to fund construction of three new buildings at Westlake Academy with the final expenditures continuing into FY 13/14; • Cafetorium - includes stage, dressing area, storage and catering kitchen for dining and general purposes; approximately 9,600 sf. • Three story Secondary School - includes 15 classrooms, flex and office space; will be designed to allow for future addition if needed; approximatelyl8,900 sf. • Field -house - will be used to house locker rooms that are used for both athletics and PE; a visiting team locker room; storage for equipment; offices and space to be used for the PE program; approximately 9,600 sf. An Economic Development Agreement was executed between the Town and Maguire Partners -Solana Land, L.P. on February 26, 2013, stating the following: "In exchange for the Town's consideration of offering Program Resources, the Partnership agrees to pay to the Town the sum of $10,000 for each residential lot depicted on the approved Concept Plan for Granada which shall be used for the benefit of the Westlake Academy." The Town is anticipating approximately 44 lots to be final platted during FY 13/14; therefore, $440,000 will be transferred into this fund for future use. Revenues and Transfers In • FYI 4/15 adopted revenues are $440,000 o Transfers in from Economic Development Fund $440,000 Expenditures • FY 14/15 adopted expenditures are $902,805 o Completion of the 3 building expansion Fund Balance • FY 14/15 ending fund balance is projected to be $440,000 o Future Westlake Academy expansion use 256 Westlake Academy Expansion Fund 5 Year Projection PHASE 1 PHASE 2 and PHASE 3 Description Actuals 2003-2013 Estimated FY 13-14 Adopted FY 14-15 Projection TOTALS FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-20 TOTALS Revenues and Other Sources 7,718,480 902,805 440,000 440,000 440,000 440,000 440,000 Contributions 1,000,000 66,000 440,000 440,000 - - 440,000 440,000 1,066,000 Interest Earned 3,519 - - 3,519 Interest Earned Bonds 2,129 5,000 - - 7,129 Misc Revenue - 8,500 - 8,500 Transfer in from GF 100 36,398 630,000 - - 666,398 Transfer in from CP410 - 200,000 - 200,000 Transfer in from ED210 49,344 440,000 400,000 11 - - 400,000 840,000 Other Sources 520 466,775 - - - - 466,775 Bond Proceeds - 2013 CO 8,294,800 - - - 8,294,800 Bond Premiums - 2013 CO 284,437 - $400,000 284,437 hmi TOTAL REVENUES AND OTHER SOURCES l�� •r 111 $400,000 Capital Project Detail 7,718,480 902,805 440,000 440,000 440,000 440,000 440,000 Engineering 38,338 45,060 440,000 440,000 - - 440,000 440,000 83,398 Design Fees 483,982 198,600 682,582 Misc. Legal 4,788 - - - 4,788 Irrigation R&M 4,766 4,766 Landscape - A&S Center 20,324 - - 20,324 Contingency - 115,200 115,200 Utility Relocations (W/S/E) 49,344 - - 49,344 Advertising 520 520 Audio Visual 3,740 - - 3,740 Courier Service 422 422 Misc. Expense 3,243 - - 3,243 Construction Expense 780,517 7,162,881 902,805 - 8,846,203 Water Service 197 - - - 197 Furniture & Fixtures 6,268 670,209 - 676,477 Bond Issuance Costs - 2013 CO 123,316 - - - 123,316 Transfer Out to GF 36,398 36,398 Portable Buildings TOTAL PROJECT EXPENSE 346,639 •r :r •� :� - - 346,639 r $ 7,718,480 $ (6,815,675) $ (462,805) $ 440,000 Fund Balance Beginning 7,718,480 902,805 440,000 440,000 440,000 440,000 440,000 Fund Balance Ending As 71718,480 902,805 440,000 440,000 440,000 440,000 440,000 440,000 257 CAPITAL IMPROVEMENT Q �'°NiTr sJ16*0 z. J5 Q W L.� z C(J) I � � ?-fg I wa r*,A 011111ft -.& CL ADOPTED --2014 15 LUE s4 _ VISION' MISSION STRATEGY'' THE TowN OF ` ESTLAKE * 3 `VILLAGE CIRCLE #2-02 WESTLAKE, TEXAS 76262 * WWW.WESTLAKE-TX.ORG CAPITAL IMPROVEMENT PLAN Introduction The Council approved the Town's formal Five Year CIP on September 22, 2014. The Capital Improvement Plan (CIP) provides a comprehensive plan of capital improvements that are to be undertaken by the Town over the next five (5) years. Cost estimates and financing methods for the improvements are included and are referenced by individual project. The development of the Town's Capital Improvement Plan is one of the more complex and multi -faceted processes of the Town. Striking a balance between the needs and interests of the residents and the financial capacity of the Town is a challenging proposition. For this community vision to have meaning, it must be accompanied by deliberate planning that leads the organization and community to its desired future. This requires clearly defined goals, proactive strategies, committed leadership, effective management and above all, the resources to carry out these plans and objectives. A Town capital project should be defined as construction or reconstruction of any public building or infrastructure identified as a community need, whether funding is currently available or not. If funding is not currently available, but the project is determined by the Council to be important, the project is still included in the Council's approved five (5) year CIP and shown as unfunded. If funding is later made available, the project is already on the "radar screen", although it may be scheduled in the out years of the 5 year planning period. By going through the effort of a formally prepared CIP in the prior year, subsequent years' CIP should be more of an annual update to make sure of the following: • The staff has identified all the capital projects the Council sees on the horizon. • The Council can remove the projects that no longer are seen as a priority in terms of not meeting the community's strategic needs (assuming that no funding has been spent on design thus far). • Annual Council review allows project timing to be adjusted in terms of which year in the 5 year time span the project is assigned. • Annual review of the Council approved 5 year CIP allows this review to be performed at the same time as the review of the 5 year financial forecast (this is completed to see the impact of a capital project not only on the capital side, but also on the operations/maintenance side). • With Council's adoption of this 5 year CIP, along with the adopted financial policies, no capital project, regardless of funding source, is put into the CIP until it first comes through the annual update "call for projects" prepared each Spring by the staff and is included in the CIP approved by the Council. 259 CAPITAL IMPROVEMENT PLAN What is a CIP? First, what it is not; a CIP (Capital Improvement Plan) is not a wish list, rather it is a realistic plan designed to fulfill the strategic goals and objectives necessary to achieve the mission and vision of the community. A CIP is a multi-year document that summarizes the capital needs of a community over a specific time period. It outlines the individual capital projects, their strategic value and relationship to the community's long-term goals and objectives as well as the fiscal impact that they pose to the community. Why have a CIP? • Informs the employees, departments, elected officials and the public of an entity's intent to invest in its infrastructure and community • Represents a long-term financial plan and identifies resources or financing strategies that an entity plans to use to fund the plan • Establishes priorities and serves as a planning document or blueprint for an organization's investment in capital infrastructure both short-term and long-term • Provides a breakdown of major project costs and phasing as necessary • DOES NOT appropriate money CIP Prioritization Strategy - Preserve * Protect * Plan • Preserve the past by investing in the continued upgrade of town assets and infrastructure • Protect the present with improvements and/or additions to facilities, roads, and capital investments • Plan for the future of the organization What is a Capital Project? Capital includes all long-lived infrastructures such as water facilities, sewers, streets, parks and buildings along with major equipment like fire trucks, radio systems, vehicles, computers and fixtures. Capital projects are the individual action plans that make up a Capital Improvement Plan. The capital projects in this CIP have been categorized into the following groups: Parks & Recreation, Facilities, Transportation, Vehicles and Utilities. Capital Assets by Category and Type When most people think of the Town's capital assets, they automatically think of the Westlake Academy campus. While the campus is certainly a very important and visible asset owned by the Town, it is but one of many. Included in the assets of the Town are all of the Town's infrastructure such as its streets, water and sewer mains, vehicles and other equipment. In preparing this year's CIP, the staff utilized our annual audit to determine value of the Town's assets. 260 The chart to the right depicts the Town's capital assets from the Comprehensive Annual Financial Report (page 12) as of Fiscal Year Ended September 30, 2013. Funding Considerations In all communities the cost associated with capital projects far outweighs the available resources necessary to pay for them; in short there is not enough money. This requires prioritization of the projects based upon their perceived impact on the community. Due to the CAPITAL IMPROVEMENT PLAN vast number of individual desires it is near impossible to satisfy everyone and requires a collaborative effort to create situations where the benefits are shared equitably with community stakeholders. In addition, dedicated revenues will, in most cases, determine which projects get funded. For example, the Utility Fund may only contribute towards capital projects that improve water and wastewater projects. Sources of Funding There are four primary funding sources for capital improvements: 1. Cash Funding (revenue sources such as sales, hotel/motel and property taxes) 2. State/Federal funding (public grants) 3. Private Funding (developmental impact fees or charitable donations) 4. Bond Issuance The proposed projects in this CIP rely on bond proceeds and other revenues in the Governmental and Enterprise Funds as well as contributions from corporate partners for funding. There are two types of bonds: General Obligation (GO) bonds which require voter approval and Certificates of Obligation (CO) bonds which do not require voter approval. The current CIP is funded primarily from four sources: Capital Projects & Utility funds (cash on hand), Contributions and CO bonds. How Inflation Impacts the CIP Inflation is defined as a rise in the price of all goods and services over time. This implies that the purchasing power, or value, of currency will decline in the future relative to costs. Therefore, more money will be required to fund CIP related expenditures and must be accounted for. This data is important in calculating the Town's future liability; by utilizing inflation trends to calculate future capital replacement costs, we can determine how `waiting' a year or more impacts the total project cost. Most are aware of the benefits of compounding when it comes to investing. Unfortunately, this same principle works in reverse as inflation causes costs to compound higher over time. 261 W Improvements Q Vehicles, ■ Road Other Than $478,201 r Utility Improvements, Buildings, 1% Machinery & $7,563, $621,038 Equipment, 20% 2 / $1,948,388 5% M Utility Improvements, $9,614,902 25 Y Buildings, $17,611,889Capital Assets By Type $37,837,904 (per the FY2013 Fixed Asset Depreciation Schedule) vast number of individual desires it is near impossible to satisfy everyone and requires a collaborative effort to create situations where the benefits are shared equitably with community stakeholders. In addition, dedicated revenues will, in most cases, determine which projects get funded. For example, the Utility Fund may only contribute towards capital projects that improve water and wastewater projects. Sources of Funding There are four primary funding sources for capital improvements: 1. Cash Funding (revenue sources such as sales, hotel/motel and property taxes) 2. State/Federal funding (public grants) 3. Private Funding (developmental impact fees or charitable donations) 4. Bond Issuance The proposed projects in this CIP rely on bond proceeds and other revenues in the Governmental and Enterprise Funds as well as contributions from corporate partners for funding. There are two types of bonds: General Obligation (GO) bonds which require voter approval and Certificates of Obligation (CO) bonds which do not require voter approval. The current CIP is funded primarily from four sources: Capital Projects & Utility funds (cash on hand), Contributions and CO bonds. How Inflation Impacts the CIP Inflation is defined as a rise in the price of all goods and services over time. This implies that the purchasing power, or value, of currency will decline in the future relative to costs. Therefore, more money will be required to fund CIP related expenditures and must be accounted for. This data is important in calculating the Town's future liability; by utilizing inflation trends to calculate future capital replacement costs, we can determine how `waiting' a year or more impacts the total project cost. Most are aware of the benefits of compounding when it comes to investing. Unfortunately, this same principle works in reverse as inflation causes costs to compound higher over time. 261 CAPITAL IMPROVEMENT PLAN Overview On September 16, 2013, the Town Council adopted the third annual plan (FYI 3/14 - FY17/18). These original projects as well as additional staff recommended projects are included in this plan. The Capital Improvement Plan for FY14/15 through FYI 8/19 presents the Town's plan for infrastructure development and improvements. The Capital Improvement Plan is evaluated annually by the Town leadership to determine the financial availability of resources for design, construction, operations, and maintenance. The following chart provides a graphical comparison of the previous capital improvement plans. In prior years, the majority of capital improvements in Westlake have been unfunded. These projects represent capital needs that are subject to more discussion and are included to convey to the Town leaders and other interested parties the general parameters and breadth of those capital needs. These projects may be moved to the "Funded" section of this CIP in future years, depending on priorities, funding availability, and other considerations. Several of these projects such as the permanent fire station and municipal complex are multi-million dollar projects that have been carried forward since the Academy Complex was established. Balancing these priorities, while at the same time being cognizant of the fiscal challenges of our Town, has become a difficult task. Funded vs Unfunded (Under Discussion) Capital Improvements The following chart depicts the current adopted Capital Improvement Plan funded vs unfunded CIP. This multi-year capital plan will provide Council with a guide that communicates the program need or deficiency, as well as the funding requirements. It is important to note that projects which do not receive funding in a given year are moved out to the future years in order to communicate to those with decision making responsibility the need to provide necessary funding, or through evaluation, eliminate the project entirely. $30 _. Funded vs Unfunded CIP $25 $20 $15 $10 $0 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 262 n Funded A Unfunded CAPITAL IMPROVEMENT PLAN Funding of Previously Adopted and Current Proposed Projects This Capital Improvement Plan anticipates additional revenues related to permits and fees and the use of two bond issuances to complete Phase II of Westlake Academy, the Fire Station Complex and the Municipal Building. The majority of the streets/trails projects will be funded with cash from the one-time revenues related to permits and fees as well as previously adopted transfers and contributions. Conclusions Capital Improvement Plans play an integral role in helping a municipality reach its stated strategic objectives. Equally important to the capital project development process are funding and economic considerations. Prudent financial stewardship should be based on cost minimization and long-range strategic capital preservation. While there are many methods for funding capital projects, consideration to who benefits from the project, the life of the capital asset and the affordability of the funding method are all important factors to consider. 263 ALL FUNDED AND ADOPTED CAPITAL PROJECTS FIVE YEAR PROJECTION * new project added or moved from unfunded (under consideration) this year M�� FY 14/15 1 FY 15/161 CAPITAL PROJECT FUNDS 1,060,355 1,687,600 637,267 637,267 3,385,222 CP20 FM1938 Streetscaping CP50 Trail and Park Improvements - 42,733 195,000 42,733 195,000 195,000 * CP62 Water line and Well improvements 320,000 320,000 63,000 CP30 SH114/170 Enhancements 63,000 63,000 Sub -Total - Park/Cemetery - 239,433 258,000 38,500 258,000 258,000 CP55 Outdoor Warning System 680,467 CP30 SH114/170 Enhancements CP31 Stagecoach Hills Recon/Drain - 489,880 9,020 99,000 99,000 * CP64 Fire Station Complex CP34 Roanoke Road Recon/Drain South CP40 Sam School Rd Recon/Drainage 2,900 1,125,000 6,688,145 7,813,145 7,813,145 * CP65 Maintenance & Storage Facility $ 1,060,355 $ 2,683,685 - 20,000 20,000 20,000 Sub -Total - Municipal 1,224,000 6,708,145 7,932,145 7,932,145 WA WA Expansion 902,803 7,712,832 330,000 CP58 Ottinger Road Recon/Drainage - 8,615,635 WA WA Expansion (Contribution) 11000,000 66,000 CP52 Trail - Academy to Cemetery Sub -Total - Road/Street/Trail Improvements 1,785,068 1,704,120 1,066,000 WA WA Expansion (Cash) - 413,118 902,806 160,000 902,806 1,315,924 Sub -Total - Academy 1,902,803 8,191,950 902,806 - - - 902,806 10,997,559 Sub -Total - Facilities Improvements 1,902,803 8,191,950 2,126,806 6,708,145 8,834,951 18,929,704 CP20 FM1938Streetscaping 1,060,355 1,687,600 637,267 637,267 3,385,222 CP20 FM1938 Streetscaping - - 42,733 42,733 42,733 CP20 FM 1938 Streetscaping - - 320,000 320,000 320,000 CP30 SH114/170 Enhancements 231,933 7,500 - - 239,433 CP30 SH114/170 Enhancements 38,500 77,000 77,000 680,467 680,467 CP30 SH114/170 Enhancements CP31 Stagecoach Hills Recon/Drain - 489,880 9,020 160,000 - 160,000 - 160,000 498,900 CP34 Roanoke Road Recon/Drain South CP40 Sam School Rd Recon/Drainage 2,900 FY 14/15 1 453,000 266,000 - 453,000 266,000 455,900 266,000 CP41 Dove Rd Recon/Drain (Vaq/TB) CP60 Pearson Lane Recon/Drainage $ 1,060,355 $ 2,683,685 100,000 414,945 - 381,250 514,945 381,250 514,945 381,250 CP53 Trail - Dove/Pearson/Aspen * New Projects - Cash 273,600 273,600 CP57 Ottinger Rd Bridge Creek Crossing3 390,000 Contributions -FM1938 -,000 330,000 330,000 CP58 Ottinger Road Recon/Drainage 320,000 320,000 10 572,710 572,710 CP52 Trail - Academy to Cemetery Sub -Total - Road/Street/Trail Improvements 1,785,068 1,704,120 1,819,000 414,945 1,495,317 1,178,810 276,100 4,908,072 276,100 8,397,260 TOTAL CAPITAL PROJECTS FUNDS 3,687,871 9,896,070 4,203,806 414,945 1,495,317 1,178,810 6,708,145 14,001,023 27,584,964 UTILITY FUND 500 UF30 TRA Assumption of N-1 Sewer Line - _ __ , 250,000 250,000 332,967 UF36 Ground Storage Tank (Bonds) 96,803 903;197 - 1,000,001 UF36 Ground Storage Tank (Cash) - W w - - 500,000 * UF38 Meter Reading & Equipment - 38,500 38,500 77,000 77,000 TOTAL UTILITY FUND 96,803 1,486,164 288,500 38,500 327,000 1,909,967 TOTAL17 Funding Description ®�------------ FY 14/15 1 FY 15/16 FY 16/17 FY /18 Five Year Projection ----------- FY 18/19 FIVE YEAR TOTAL•• Previously Adopted Projects - Cash $ 1,060,355 $ 2,683,685 $ 2,287,073 $414,945 $ 2,702,018 $ 6,446,058 * New Projects - Cash 351,500 38,500 390,000 390,000 Contributions -FM1938 320,000 - 320,000 320,000 Contributions - WA Expansion 1,000,000 66,000 - 1,066,000 Contributions - SH 114/370Enhacement 160,000 160,000 160,000 FY 10/11 - $2.09M Bonds ($932,819 on prev. projects) 724,713 16,520 408,733 - - - - 408,733 1,149,966 FY 12/13 - $9.500M Bonds previously issued 999,606 8,616,029 - - 9,615,636 FY 14/15 Fire station Land -30 yr Bonds - 1,125,000 - - 1,125,000 1,125,000 FY 16/17 Street/Trail-20 yr Bonds - - - 1,335,317 1,178,810 - 2,514,127 2,514,127 FY 18/19 Fire Station -30 yr Bonds - - - - - - 6,708,145 6,708,145 6,708,145 TOTAL $ 3,784,675 $ 11,382,234 $ 4,492,306 $453,445 $ 1,495,317 $ 1,178,810 $ 6,708,145 $ 14,328,023 $ 29,494,931 264 ALL UNFUNDED (UNDER DISCUSSION) CAPITAL PROJECTS FIVE YEAR PROJECTION * new project added this year Project Description ®�FY 14/15 FY 15/16 1 FY 16/17 1 FY 17/18 FY 18/19 Cemetery Improvements - 75,750 61,800 63,654 65,564 266,768 15-30 Acre Community Park 4,129,999 2,623,600 - - 6,753,599 Roanoke Road Open Space - - 43,600 84,000 127,600 Total Parks/Cemetery 4,205,749 2,685,400 107,254 149,564 7,147,967 Municipal Building - - - 12,314,504 12,314,504 WA Phase II - 15 Classroom Secondary Addition 4,550,620 4,550,620 WA Phase II - 4 Classroom Kindergarten Addition 2,442,500 2,442,500 WA Phase III - Art & Science Classrooms 1,878,080 1,878,080 WA Phase III - Performing Arts Center 5,234,600 5,234,600 Total Facilities Improvements - 26,420,304 26,420,304 Hwy 377 Landscape Improvements 700,000 - 700,000 Dove & Randal Mill Traffic Circle 654,600 721,000 1,375,600 Trail - Fidelity Campus to Westlake Parkway on 114 - 294,000 294,000 Trail Connection at 1 14/Solana 16,840 16,840 Signalization 250,000 - - 250,000 Total Road/Street Improvements/Trails TOTAL UNFUNDED (UNDER DISCUSSION) CAPITAL PROJECTS 250,000 1,354,600 1,031,840 2,636,440 265 PARKS/CEMETERY OVERVIEW The Parks & Recreation Department is responsible for maintaining the Town's parks and trails. The Town of Westlake provides residents with one Town Park which is located near the Glenwyck subdivision. The trees along roadways and the cemetery are maintained to ensure the safety of drivers and pedestrians. The Town also maintains several trails located near the Glenwyck and Vaquero subdivisions. While additional trails have been discussed, no funding has been provided in recent years. In resident surveys, parks and trails have consistently rated as high priority/low satisfaction items suggesting a need for improvement. One of the goals of the current CIP is to begin creating the trails that will provide connectivity from the Town's West side to its Eastern limits as well as interconnectivity with neighboring jurisdiction's trail systems. Trails have been moved to the Streets/Road Improvements/Trails section of this CIP. ADOPTED PROJECTS - CIP FY 2014-2018 PROJECTS TO BE COMPLETED IN FY 13/14 o No Projects PROPOSED PROJECTS - FYI 4/15 THRU FYI 8/19 o Trail and Park Improvements * Water Line and Well Improvements UNFUNDED/UNDER DISCUSSION PROJECTS - FYI 4/15 THRU FYI 8/19 o Cemetery Improvements 0 15-30 Acre Community Park * Roanoke Road Open Space 266 FACILITIES OVERVIEW Currently, The Town of Westlake owns and operates three facilities: the Westlake Academy, the temporary buildings that house our emergency services personnel and equipment, and the Parchman house which is currently being utilized for storage. The Town also leases approximately 12,000 square feet of office space. This Capital Improvement Plan proposes increasing the number of buildings on the Westlake Academy campus as well as providing new municipal buildings for staff and community events. ADOPTED PROJECTS - CIP FY 2014-2018 PROJECTS TO BE COMPLETED IN FY 14/15 o Westlake Academy Phase I Expansion including West Parking Improvements PROPOSED PROJECTS - FYI 4/15 THRU FYI 8119 * Fire Station Complex * Outdoor Warning System * Maintenance and Storage Facility UNFUNDED/UNDER DISCUSSION PROJECTS - FY 14/15 THRU FY 18/19 o Municipal Building o WA Phase II - 15 Classroom Secondary Addition o WA Phase II - 4 classroom Kindergarten Addition o WA Phase III - Arts & Science Classroom Addition o WA Phase III - Performing Arts Center 267 VEHICLE AND EQUIPMENT OVERVIEW Vehicles and equipment represent approximately 6% of the Town's assets or roughly $3.4M. While the current CIP does not contain any proposals for vehicles, it is important to note that of the seven vehicles (including a utility truck) the Town currently owns, three are completely depreciated and three more will become completely depreciated within the next five years. Similarly, of the fourteen FF&E asset groups, eight are currently fully depreciated and the remainder will be within the next five years. Whether or not an asset has been fully depreciated does not by itself warrant the need to replace it, however, depreciation does serve as an indicator that the likelihood the asset will need to be replaced in the near future is fairly high. The Town maintains a General Maintenance & Replacement Fund and is working towards funding annually for any replacement items needed in subsequent years. We anticipate a replacement vehicle for the Parks and Recreation Department to be paid from the funds that have been transferred to this fund for just this purpose. Date placed in service Vehicle Make Vehcile Description Dept Cost Annual Depreciation Useful Life Remaining life @ 09/30/13 2005 Chevy Silverado Building Inspection Building $15,704 $3,141 I 5--T 0 2007 Dodge Charger Marshal's vehicle Court $23,000 $4,600 5 0 2005 Ford Ranger Public Works Truck Public Works $21,519 $4,304 5 0 2008 Chevy Silverado Public Works Truck Public Works $11,105 $2,221 5 0 2010 Startrans Senator II School Bus Academy $41,625 $8,325 5 2 2010 Girardin 18 Passenger Bus Academy $41,625 $8,325 5 2 2003 Ford 450 Ambulance Fire Dept $144,981 $14,498 10 0 2003 Spartan Fire Truck Fire Dept $236,423 $15,762 15 4 2004 Chevy Tahoe Fire Marshal Fire Dept $41,108 $8,222 5 0 2012 Ford 450 Ambulance Fire Dept $200,000 $20,000 10 9 2012 Ford 550 Attack Truck Fire Dept $169,746 $16,975 10 9 2013 Chevy Suburban Fire Chief Fire Dept $49,084 $9,817 5 5 $995,920 $116,188 UTILITY IMPROVEMENTS OVERVIEW The Town of Westlake currently owns a minimum of approximately $24M of utility fixed assets. These take the form of water, sewer and telecommunications duct bank lines. These assets are initially installed through development and later transferred to the Town for upkeep and maintenance. With the recent completion of the Stagecoach Hills water main, the Town's utility infrastructure is in relatively good shape with no known deficiencies. The five items that are fully depreciated are water lines that were transferred from the City of Keller which may need replacement in the near future but are fully operational now. It should also be noted that the Town is currently engineering a GIS system that will map all infrastructure; this project provides us the opportunity to review the condition of these assets and their values which will be revised as necessary. ADOPTED PROJECTS - CIP FY 2014-2018 PROJECTS TO BE COMPLETED IN FY 13/14 o Ground Storage Tank PROJECTS TO BE COMPLETED IN FUTURE YEARS o TRA Assumption of N-1 Sewer Line PROPOSED PROJECTS - CIP FY 2015-2019 * Meter Reading and Equipment 269 LONG TERM PLANNING .m kolollITY II'p,0 **A - -111, 1 1 - 'm " , w 0 4 7 .-, DTEI -2014 L I VISION MISSION N STRATEGY Mfd if THE TOWN OF WESTLAKE * 3 VILLAGE CIRCLE #202 * WESTLAKE, TEXAS 76262 * 'W4VW.'k ESTLAKE-T ,ORG 0 r cx FORECAST NARRATIVE The Long -Range Financial Forecast takes a forward look at the Town's General Government (General, Special Revenue Funds, Debt Service and Capital / Street Maintenance funds) revenues and expenditures. Its purpose is to identify financial trends, shortfalls, and issues so the Town can proactively address them. It does so by projecting out into the future the fiscal results of continuing the Town's current service levels and policies, providing a snapshot of what the future will look like as a result of the decisions made in the recent past. The Long -Range Financial Forecast is not intended as a budget, or as a proposed plan. Instead, it sets the stage for the budget process, facilitating both Council and staff in establishing priorities and allocating resources appropriately. GOALS OF LONG-RANGE PLANNING To maximize the benefit of long-range planning, Council established the following goals: • Sustain existing programs at high service levels. • Maintain a healthy General Fund balance of at least 90 operating days annually. • Maintain competitive employee compensation within 3% of the median for the market. • Provide adequate and stable funding for street and facility maintenance projects. The Long -Range Financial Forecast is based on assumptions regarding what will happen in the regional and state economy over the next five years, and on near-term and long-term revenue and expenditure drivers. It is important to keep in mind the purpose of a forecast is to get a general picture of what the organization's financial condition over time could be, based upon conservative assumptions. The term "conservative" used in the context of financial forecasting means revenues are forecast at low growth levels or even at a decline (depending on the revenue source). KEY EXPENDITURE DRIVERS Overtime Costs Operating Supplies Apparatus & Tools Motor Vehicle Fuel Maintenance Travel, Training & Dues Utility Costs Professional Services Insurance Costs Fleet Replacements Capital Equipment Replacements KEY REVENUE DRIVERS Tax Rate Net Taxable Value Sales Tax Mixed Beverage Tax Franchise Fees Licenses & Permits Charges for Services Intergovernmental Revenues Fines & Forfeitures Interest Income Expenditures, while not necessarily being forecast as declining, are generally forecast with a 2-3% escalation rate, depending on inflation. Forecasts generally have at least one scenario where all that is assumed on expenditures is the current level of service and perhaps some growth in salary/wage expenses. The Council can, if they wish, ask that certain service level adjustments, whether it is service expansion or reduction, be included as alternate scenarios, particularly if it appears that revenues will not cover expenditures in the out years of the forecast. It is also important to remember, since the purpose of the forecast is to get an idea, based on conservative assumptions, as to the Town's financial condition during the five (5) year planning period, that the forecast is showing that the Town will have available funds for additional debt service as well as building a fund balance for future capital and major maintenance and replacement. This is the reason forecasting is a good tool, as it gives the Council time to strategize as to course we may want to make financially, both in the short and long term. 271 FORECAST NARRATIVE Finally, it is important to remember the criticality that economic conditions play in forecasting, particularly as it relates to sales tax, which can be a volatile revenue source. If economic conditions improve, sales tax receipts are affected (usually positively) as well as building permit revenue. 1. FORECAST ASSUMPTIONS - FY 2014-15 PROPOSED BUDGET REVENUES AND OTHER FINANCING SOURCES: • General Fund o Sales tax revenue is budgeted at a 3% increase • The Town's economic development funds appear to be stabilizing at approximately $16,000/monthly of which 50% must be returned. • One-time revenues and audit receipts have been conservatively estimated at $100,000 each. In prior years these two numbers have been anywhere from $100,000 to $1,000,000 combined; therefore, because of the uncertainly of the funds, we are conservative with these estimates. ■ On-going sales tax receipts are forecasted to increase by approximately 1 I % from FY 2013-2014 based on the prior years' trending. ■ Includes the Property Tax Reduction portion of the Sales tax receipts o Property tax revenue is estimated at $1,376,063 based on Certified Tax Roll and M&O tax rate of $.13710 per $100 of valuation. o No new gas well revenue is projected o No additional one-time revenues related to economic development agreements are anticipated to be received o Building permits/inspection/plan review fees are increased by 45% due primarily to the Granada development o Based on current year receipts, franchise fees are only budgeted at a 1 % increase EXPENDITURES AND OTHER FINANCING USES: • General Fund o Payroll and Related expenditures increased approximately 23%: ■ This increase includes $202K in personnel changes; This includes an increase in base costs of $71,394 to maintain our current staff levels along with $65,000 in market pay adjustments (inclusive of taxes and insurance) for work force attraction and $54K in performance based pay, and a newly recommended allocation of $8K for cell phone reimbursement of various staff members (Directors and on-call technicians). A portion of this increased expenditure is subsidized by transfers in from the Utility Fund ($30K) and the Visitors Association Fund ($92K) ■ This increase also includes the following personnel changes o $35,753 - transition of part-time Communication Specialist to full-time o $77,987 - addition of one full-time Firefighter / Paramedic o $19,592 - replacement of part-time Deputy Court Clerk ■ Transition of shared services employees to municipal budget o $68,503 - Accounting Technician o $120,860 - IT Director • $130,144 increase for medical, dental and life Insurance costs (40%) ■ $16,931 increase for social security and Medicare taxes (08%) ■ $89,840 increase for ICMA and TMRS costs (46%) 272 FORECAST NARRATIVE o Operating expenditures and transfers out increased $1M • $300K - future Westlake resident enrollment capacity ■ $ 42K - increase to Keller Police contract services ■ $520K - transfer to Capital Projects Fund ■ $168K - transfer to Debt Service Fund • Visitors Association Fund - Total expenditures and other uses increased by 27% primarily due to operating transfers related to payroll and the transition of a part-time Communication Specialist • Utility Fund - Total expenses and other uses increased 14% and is composed primarily of completion of the ground storage tank and a transfer to the General Fund in repayment of a portion of funds needed for the ground storage tank project. • CIP - Based on adopted CIP • All Funds - Includes all adopted maintenance projects and equipment replacement to maintain current level of service 2. FORECAST ASSUMPTIONS - FY 2015-2016 AND BEYOND PROJECTION REVENUES AND OTHER FINANCING SOURCES: • Sales tax revenue - increase 3% annually • Property tax revenue - currently increased 2% for current evaluation o Estimate value on the roll two years from date of permit for new construction- separate line -item on forecast • Other revenue - increase 2% annually o Building permits/inspection/plan review fees are currently only increased by 2%. o Breakout of additional building permits/fees/inspections based on Granada growth is reflected on separate line. o Anticipate commercial revenues of $1.0M in FY 16/17 EXPENDITURES AND OTHER FINANCING USES: • Includes all adopted maintenance projects and equipment replacement to maintain current level of service • Salary and wages increase by 2% annually • Payroll - increase by fire department personnel only until there are 4 per shift • Includes 5 -year personnel forecast • Includes capital projects impact to operating budget • Includes anticipated debt payments based on adopted CIP • Includes 5 -year technology plan • Other expenditures increase by 3% (excluding any one-time expenditures) • CIP based on adopted CIP • Reduces Fire Department current expenditure related to utilities, etc. in future years upon construction of Fire Station • Westlake Academy reserve - $30OK/annually (Student enrollment remains flat) • Transfer from GF to CPF of $2.1 M receipts in one-time permits from Granada for FY 14/15, FY 15- 16 and FY 16-17 (Based on forecast ) • Granada lot fees of $1 OK/lot transferred to Westlake Academy Expansion for future construction • Annual transfers to maintenance and replacement funds 273 TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED 12 3 4 5 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 Sales Tax (ongoing 100% minus one time) 3.0% 4,100,000 4,535,000 4,671,050 4,811,182 4,955,517 5,104,182 Sales Tax (audit/one-time) 0.0% 400,000 100,000 100,000 100,000 100,000 100,000 Sales Tax - additional due to commercial 5,631,505 7,070,981 7,935,456 8,097,685 8,611,266 7,625,476 50,000 Sales Tax Allocation to 4B 3.0% (1,125,000) (1,158,750) (1,192,763) (1,227,795) (1,263,879) (1,301,046) Sales Tax Allocation to ED 2.0% (100,000) (100,000) (102,000) (104,040) (106,121) (108,243) Sales Tax Subtotal 3.0% 3,275,000 3,376,250 3,476,288 3,579,346 3,685,517 3,844,894 Property Tax 2.0% 1,189,825 1,209,094 1,233,276 1,257,941 1,283,100 1,308,762 Estimated Additional Property Tax - per schedule 3.0% 607,660 809,308 - 83,328 166,656 383,310 Property Tax Subtotal 0 1,189,825 1,209,094 1,233,276 1,341,269 1,449,756 1,692,072 Permits and Fees (FD/MC/Other) 2.0% 148,510 148,510 151,480 154,510 157,600 160,752 Permits and Fees (Bldg Other Fees) 2.0% 109,990 109,990 112,190 114,434 116,722 119,057 Permits and Fees (Bldg Permits/Insp) 2.0% 750,000 480,000 480,000 144,000 480,000 480,000 Permits and Fees (Commercial) fixed - (300,000) 1,000,000 - - Insurance 3.0% (30,520) 720,000 720,0 (33,539) (34,545) (35,582) Total Permits and Fees 3.0% 1,008,500 1,458,500 1,463,670 1,988,943 754,322 759,809 Beverage Tax 2.0% 50,000 50,500 51,510 52,540 53,591 54,663 Franchise Fees 2.0% 787,508 795,383 811,291 827,517 844,067 860,948 Fines & Forfeitures 2.0% 645,000 670,000 683,400 697,068 711,009 725,229 Interest 2.0% 8,670 8,670 8,843 9,020 9,201 9,385 Misc Income 2.0% 55,959 60,094 61,296 62,522 63,772 65,048 Other Revenues 1,547,136 1,584,647 1,616,340 1,648,667 1,681,640 1,715,273 Transfer In - OF 500 Impact 3.0% 37,500 37,500 38,250 39,015 39,795 40,591 Transfer In - OF (IF loan repymt of $500K plus int ) 256,245 256,245 Transfer In - VA 220 Dept 22 3.0% 13,020 13,220 13,617 14,025 14,446 14,879 Transfers In 5,812,583 50,520 306,965 308,112 53,040 54,241 55,470 Total Revenues & Transfers In 5,631,505 7,070,981 7,935,456 8,097,685 8,611,266 7,625,476 8,067,518 Payroll Salaries 3.0% (2,339,745) (2,862,360) (2,948,231) (3,036,678) (3,127,778) (3,221,612) Payroll Insurance (Health/Dental/Life) 10.0% (325,884) (456,028) (501,631) (551,794) (606,974) (667,671) Payroll Taxes (SSM/WC/TWC) 3.0% (209,783) (226,713) (233,515) (240,520) (247,736) (255,168) Payroll Retirement (TMRS/ICMA) 3.0% (193,291) (283,131) (291,625) (300,373) (309,385) (318,666) Payroll Transfers In 3.0% 607,660 809,308 833,587 858,595 884,352 910,883 5 -yr Personnel Forecast (ONLY Fire thru 18-19 0 - (78,000) (158,340) (246,090) (253,473) Total Payroll and Related (2,461,043) (3,018,925) (3,219,415) (3,429,111) (3,653,610) (3,805,707) Supplies 3.0% (235,921) (213,041) (219,432) (226,015) (232,795) (239,779) Service (inc CP operational impact for 14-15) 3.0% (2,194,112) (2,218,259) (1,846,078) (1,901,460) (1,958,504) (2,017,259) Service(K-5 Westlake reserve slots) fixed (300,000) (300,000) (300,000) (300,000) (300,000) Insurance 3.0% (30,520) (31,614) (32,562) (33,539) (34,545) (35,582) R&M 3.0% (126,962) (159,060) (163,832) (168,747) (173,809) (179,023) Rent & Utilities 3.0% (299,812) (299,842) (308,837) (318,102) (327,645) (337,475) Debt (repayment to BBP) 3.0% (18,339) (18,339) (18,339) (18,339) (18,339) (18,339) Operating Impact - Parks/Rec Projects Project (7,570) (9,737) (10,029) (10,330) Operating Impact - Facilities Projects Project (19,430) (20,013) (20,613) (103,667) Operating Impact - Road Projects Project (111,305) (148,739) (166,417) (171,409) Total Operating Expenditures (2,905,665) (3,240,154) (3,027,385) (3,144,691) (3,242,697) (3,412,863) Capital Outlay 3.0% (31,700) (16,280) (16,768) (17,271) (17,790) (18,323) IT Forecast (54,000) (56,500) (55,500) (60,000) (65,000) Total Capital (31,700) (70,280) (73,268) (72,771) (77,790) (83,323) Transfer Out - ED 210 (35,758) (35,758) (35,758) Transfer Out - GMR 600 (275,000) (275,000) (275,000) (225,000) (225,000) (225,000) Transfer Out - DS (Debt for Academy Exp $8.51 (447,798) (448,732) (445,172) (446,018) Transfer Out - VA for debt service - (162,400) (169,463) Transfer Out - DS 300 (Including 5 -year CIP)� (647,766) (815,854) (419,710) _ (159,107) (313,218) (268,047) Transfers Out- Operating (958,524) (1,126,612) (1,178,266) (832,840) (1,145,791) (1,108,528) Transfer Out - CP 410 (430,000) Transfer Out - WAE 412 (630,000) Mransfer ou - LIMIrlPojects -ane time $$ Transfers Out - Non Operating (630,000) Total Expenditures & Transfers Out NET R&TI • • (6,986,933) 84,048 Beginning Fund Balance 5,812,583 Ending Fund Balance 5,896,631 Restricted/Committed/Assigned 2.0% 265,126 Restricted/Committed/Assigned (portion of 1 time fees) Unassigned Ending Balance JF 5,631,505 Operating Days 323 (720,000) (576,000) (1,150,000) (720,000) (576,000) (8,605,971) (8,218,334 8,055,413) (8,119,888) (8,410,421) i i 5,896,631 5,226,116 5,105,466 5,661,318 5,166,907 5,226,116 5,105,466 5,661,318 5,166,907 4,824,004 255,079 260,181 265,384 270,692 276,106 4,971,037 4,845,286 5,395,934 4,896,215 4,547,898 243 236 263 220 197 TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED 12 3 4 5 MIF- I FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 DEBT SERVICE FUND Property Tax (2,078,834) 140,522 (2,160,960) (2,340,195) (2,340,048) Beginning Fund Balance 1,481 (11,865) (0) (0) (0) (0) 166,969 154,903 154,875 155,025 154,975 Transfer in - GF 100- including 5 -year CIP 647,766 364,407 419,710 159,107 313,218 268,047 Transfer in - GF 100 - Phase I - 451,447 447,798 448,732 445,172 446,018 Transfer In - VA 220 151,700 164,450 142,250 169,950 162,400 169,463 Transfer In - 4B 200 1,125,500 1,159,250 1,193,263 1,228,295 1,264,379 1,301,546 Total Revenues & Transfers In 2,065,488 2,306,523 2,357,923 2,160,960 DS Principal - Issue 2002 CO Phase 1 (330,000) - - DS Interest - Issue 2002 CO (21,450) Bank Charge - 2002 CO DS Principal - Issue 2003 CO Phase II (175,000) (185,000) (190,000) DS Interest - Issue 2003 CO (97,411) (90,630) (83,230) (75,250) (75,250) (75,250) Bank Charge - 2003 CO DS Principal - Issue 2007 GORB Refunding (35,000) (35,000) (410,000) (425,000) (40,000) (40,000) DS Interest - Issue 2007 GORB (294,608) (293,295) (291,983) (276,608) (259,608) (258,008) Bank Charge - 2007 GORB (400) (400) (400) (400) (400) (400) DS Principal - Issue 2011 GORB Refunding (100,000) (440,000) (100,000) (275,000) (700,000) (715,000) DS Interest - Issue 2011 GORB (223,200) (217,800) (212,400) (207,275) (192,650) (171,425) Bond Issue Cost 2011 GORB Bond Issue Cost 2011 GORB - - Bank Charge - 2011 GORB (400) (400) (400) (400) (400) (400) DS Principal - Issue 2011 CO Taxes (93,000) (97,000) (100,000) (75,000) (79,000) (83,000) DS Interest - Issue 2011 CO (60,791) (57,704) (54,503) (79,475) (75,625) (71,575) Bank Charge - 2011 CO (77) (400) (400) (400) (400) (400) DS Principal - Issue 2013 GORB Ref 2008 (105,000) (120,000) (100,000) (130,000) (125,000) (135,000) DS Interest - Issue 2013 GORB A&S (46,700) (44,450) (42,250) (39,950) (37,400) (34,463) Bank Charge - 2013 GORB (400) (400) Bond Issue Cost 2013 GORB - - DS Principal - Issue 2013 CO WA (89,000) (173,550) (173,550) (178,000) (178,000) (182,450) DS Interest - Issue 2013 CO Expansion (362,371) (277,719) (274,248) (270,732) (267,172) (263,568) Bank Charge - 2013 CO (400) (400) DS Principal - Issue 2014 GORB Refunding - (195,000) (200,000) (5,000) (5,000) (5,000) DS Interest - Issue 2014 GORB (43,626) (65,510) (61,560) (59,470) (59,290) (59,110) Bank Charge - 2014 GORB 2014-15 CO (FS LAND only ($56K per $1M) (1.125M) (30yr) (63,000) (63,000) (63,000) (63,000) Total Expenditures & Transfers Out NET R&Tl • - (2,078,834) (2,294,658) (2,357,923) (2,160,960) (2,340,195) (2,340,048) Beginning Fund Balance 1,481 (11,865) (0) (0) (0) (0) Ending Fund Balance (11,865) (0) Restricted/Com m fitted/Assigned Unassigned Ending Balance (11,865) (0) (0) (0) (0) (0) TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED 12 3 4 5 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 Water/Sewer/Waste Revenues 2.0% 2,746,850 Water/Sewer Tap Fees 2.0% 31,350 Fort Worth Impact Fees 2.0% 38,800 Misc Income 2.0% 402,704 Interest 2.0% 6,425 Total Revenues & Transfers In 0.0% 3,226,129 Expenditures 3.0% (930,578) Solana Expense 0.0% Ending Fund Balance Water Purchases 3.0% (1,134,600) Payroll Transfers to GF 3.0% (321,554) Funded/Proposed Capital Projects Impact to Operations (119,462) Total Operating Expense $1.025M (2,386,732) Transfer Out - U M R 510 (33,021) (263,530) Transfer Out - GF 100 Loan Repayment Transfer Out - GF 100 Impact Fees 1.0% 125 (37,500) Total Transfers Out Total Revenues & Transfers In (301,030) N1 Sewer Line Transfer 0.0% (82,967) Ground Storage Tank 0.0% (1,403,197) METER READING EQUIPMENT NEW 0.0% Ending Fund Balance Total Capital Projects Restricted/Committed/Assigned (1,486,164) Debt Service (Hillwood) 3.0% (73,000) Debt Service (Keller OH Storage) (300,000) (119,462) DS Principal - Issue 2013 CO Ground Storage T� $1.025M (11,000) DS Interest - Issue 2013 CO Ground Storage Tank (33,021) (44,787) Total Debt (38,250) (248,250) Total Expenditures & Transfers Out NET R&TI • - •(1,196,046) (40,591) (4,422,175) Beginning Fund Balance (339,015) 5,765,723 Ending Fund Balance 4,569,677 Restricted/Committed/Assigned 2.0% 186,657 Unassigned Ending Balance 4,251,122 4,383,020 Total Operating Expenditures 4,963,084 2,634,981 Operating Days 4,644,339 607 Revenues 1.0% 125 Transfers In - OF 500 263,530 Total Revenues & Transfers In 263,655 Expenditures (296,530) Repaint Existing Storage Tank (396,402) Total Expenditures & Transfers Out NET R&TI • • (296,530) Beginning Fund Balance 61,298 Ending Fund Balance 28,423 Restricted/Committed/Assigned 28,423 Assigned Ending Balance (projected) - 3,211,810 3,276,046 3,341,567 3,408,398 3,476,566 23,250 23,715 24,189 24,673 25,167 37,500 38,250 39,015 39,795 40,591 192,004 195,844 199,761 203,756 207,831 6,000 6,120 6,242 6,367 6,495 3,470,564 3,539,975 3,610,775 3,682,990 3,756,650 (877,089) (903,402) (930,504) (958,419) (987,171) (1,280,600) (1,319,018) (1,358,589) (1,399,346) (1,441,327) (352,198) (362,764) (373,647) (384,856) (396,402) (73,000) (13,100) (25,730) (26,501) (27,295) (2,509,887) (2,598,283) (2,688,469) (2,769,122) (2,852,195) (450,000) (300,000) (300,000) (300,000) (300,000) (256,245) (256,245) (33,461) (33,021) (32,576) (37,500) (38,250) (39,015) (39,795) (40,591) (743,745) (594,495) (339,015) (339,795) (340,591) (250,000) (38,500) (35,000) 300,000 300,000 300,000 (288,500) (35,000) 300,128 300,129 300,130 (73,000) (75,190) (77,446) (79,769) (82,162) (118,212) (118,949) (119,879) (120,538) (120,936) (21,450) (21,450) (22,000) (22,000) (22,550) (34,325) (33,896) (33,461) (33,021) (32,576) (246,987) (249,485) (252,786) (255,328) (258,224) (3,789,119) (3,477,264) (3,280,269) (3,364,245) (3,451,010) Elmo 4,569,677 4,251,122 4,313,833 4,644,339 4,963,084 4,251,122 4,313,833 4,644,339 4,963,084 5,268,724 188,524 192,294 196,140 200,063 204,064 4,062,598 4,121,539 4,448,198 4,763,021 5,064,660 2,756,874 2,847,769 2,941,254 3,024,450 3,110,419 538 528 552 575 594 125 126 128 129 130 450,000 300,000 300,000 300,000 300,000 450,125 300,126 300,128 300,129 300,130 (203,000) (82,500) (87,500) (90,000) (90,000) (160,000) (203,000) 247,125 (242,500) 57,626 (87,500) 212,628 (90,000) 210,129 (90,000) i 28,423 275,548 333,174 545,802 ,130 755,931 275,548 333,174 545,802 755,931 966,061 275,548 333,174 545,802 755,931 966,061 276 TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED' 2 3 4 5 FY 13-14 FY 14-15 FY 15-16 1 FY 16-17 1 FY 17-18 FY 18-19 PROJECTSCAPITAL (902,805) - - - - Contributions 66,000 Interest Earned Bonds FM1938 Streetscape/Wayfinding Contribution - 320,000 Transfer in from GF 630,000 Transfer in from CP 200,000 Hwy 377 Westport Parkway Signal 16,500 - 466,775 - 1,376,275 Expenditures Contributions 114/170 Enhance - - - 160,000 Ending Fund Balance 902,805 Interest Income 7,400 7,400 4,000 3,500 Transfer in from GF - 430,000 - - Transfer in from GF (Addl permits) 720,000 720,000 576,000 Other Sources - Bond Proceeds 1,125,000 - 2,600,000 6,708,145 Other Sources - Bond Proceeds (trails, etc) - - - - - Total Revenues & Transfers In 23,900 2,602,400 724,000 3,339,500 6,708,145 WATERLINE & WELL IMPROVEMENTS NEW (63,000) - - - FIRE STATION COMPLEX NEW - (1,125,000) (6,688,145) MAINTENANCE & STORAGE FACILITY NEW (20,000) Streetscaping (Cash) (1,687,600) (637,267) C1938 1938 Streetscaping(Bonds) (42,733) 1938 Streetscaping (Contribution) 11111&Q00) 114/Hwy 170 Enhancements (7,500) 114/Hwy 170 Enhancements (Cash) -Contribution LH (160,000) 114/Hwy 170 Enhancements (Cash) (680,467) S. Roanoke Road Reconstruction & Drainage (453,000) Sam School Road Reconstruction & Drainage (266,000) E. Dove Road Reconstruction & Drainage (Vaq -TB) (100,000) (414,945) Trail and Parks Improvements (195,000) Transfer out to WA Expansion parking lot (200,000) Outdoor Warning System (99,000) HWY 377 Landscape Improvements Pearson Lane Recon/Drain (381,250) One Project Trail- Dove/Pearson/Aspen (273,600) Ottinger Road -Creek Bridge (330,000) Ottinger Road Recon/Drain One Project (572,710) Trail - WA to Cemetery (276,100) Total Expenditures & Transfers Out (1,904,120) (3,301,000) (414,945) (1,495,317) (1,178,810) (6,708,145) RAN • • :1 00 09 Beginning Fund Balance 2,638,835 758,616 60,015 369,070 2,213,253 1,034,443 Ending Fund Balance 758,616 60,016 369,070 2,213,253 1,034,443 1,034,443 Restricted/Committed/Assigned 758,616 60,016 369,070 2,213,253 1,034,443 1,034,443 Unassigned Ending Balance ACADEMYWESTLAKE • (902,805) - - - - Contributions 66,000 Interest Earned Bonds 5,000 Misc Revenue 8,500 Transfer in from GF 630,000 Transfer in from CP 200,000 Transfer in from ED Fund Other Sources 466,775 Total Revenues & Transfers In 1,376,275 Expenditures (8,191,950) Total Expenditures & Transfers Out NET R&TI • • (8,191,950) Beginning Fund Balance 7,718,480 Ending Fund Balance 902,805 Restricted Funds 902,805 Unassigned Ending Balance (projected) - 440,000 400,000 (902,805) (902,805) - - - - (462,805) 902,805 440,000 440,000 400,000 440,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 277 TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED' 2 3 4 5 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 Revenues 1.0% 1,750 Transfers In - GF 100 275,000 Total Revenues & Transfers In 276,750 Expenditures (361,045) Transfers Out Total Revenues & Transfers In Total Expenditures & Transfers Out NET R&TI • (361,045) Beginning Fund Balance 1,239,048 Ending Fund Balance 1,154,753 Restricted/Committed/Assigned 1,154, 753 Unassigned Ending Balance - Hotel Tax 2.0% 700,000 Other Revenues 2.0% 21,550 Transfers In - GF for Debt Service 35,758 - Total Revenues & Transfers In Expendures 721,550 Expenditures 3.0% (241,322) Solana Expense Total Expenditures & Transfers Out NET R&TI • • (205,758) Payroll Transfers to GF 3.0% (286,107) Transfer Out - GF 100 Dept 22 Restricted/Committed/Assigned (13,020) Transfer Out - DS 300 Schedule (151,700) Total Expenditures & Transfers Out NET R&TI • • 303,166 (692,149) 29,401 Beginning Fund Balance 298,790 1,026,639 Ending Fund Balance 373,432 1,056,040 Restricted/Committed/Assigned 303,166 151,700 Unassigned Ending Balance 304 904,340 Operating Days 156 477 Sales tax (on-going) 1,025,000 Sales tax (one-time) 100,000 Interest 500 Total Revenues & Transfers in 1,125,500 Expendures - Transfer Out (1,125,500) Total Ex enditures & Transfers Out (1,125,500) Beginning Fund Balance Ending Fund Balance Restricted/Comm itted/Assigned Unassigned Ending Balance General Sales Tax 100,000 Hotel/Motel Tax 2.0% 70,000 Granada/Entrada $10K/lot 275,000 Transfers In 35,758 Total Revenues & Transfers In 225,000 Expendures (205,758) Transfers Out 228,864 Transfer out to CP - Academy Expansion (1,264,000) Total Expenditures & Transfers Out NET R&TI • • (205,758) Beginning Fund Balance (194,000) Ending Fund Balance (149,500) 129,288 Restricted/Committed/Assigned 35,364 Unassigned Ending Balance (985,250) 1,154,753 3,750 3,788 3,825 3,864 3,902 275,000 275,000 225,000 225,000 225,000 278,750 278,788 IL 228,825 228,864 228,902 (1,264,000) (149,500) (224,450) (193,500) (194,000) (1,264,000) (149,500) 129,288 4,375 35,364 34,902 (985,250) 1,154,753 169,503 298,790 303,166 338,529 169,503 298,790 303,166 338,529 373,432 169,503 298,790 303,166 338,529 373,432 304 255 161 156 141 707,000 721,140 735,563 750,274 765,280 21,550 21,981 22,421 22,869 23,326 - - - 162,400 169,463 728,550 743,121 757,983 935,543 958,068 (249,814) (257,308) (265,028) (272,979) (281,168) (457,110) (470,823) (484,948) (499,496) (514,481) (13,220) (13,617) (14,025) (14,446) (14,879) (164,450) (142,250) (169,950) (162,400) (169,463) (884,594) (883,998) i (933,951) (949,321) (979,991) (156,044) 1,056,040 899,996 759,119 583,152 569,374 899,996 759,119 583,152 569,374 547,452 164,450 142,250 169,950 162,400 169,463 735,546 616,869 413,202 406,974 377,989 304 255 161 156 141 1,146,250 1,092,763 1,127,795 1,163,879 1,201,046 12,500 100,000 100,000 100,000 100,000 500 500 500 500 500 1,159,250 1,193,263 1,228,295 1,264,379 1,301,546 70,000 71,400 72,828 74,285 75,770 (1,159,250) (1,193,263) (1,228,295) (1,264,379) (1,301,546) (1,159,250) (1,193,263) (1,228,295) (1,264,379) (1,301,546) 645,758 609,158 176,868 180,405 184,013 234,242 (209,158) (176,868) (180,405) (184,013) 100,000 102,000 104,040 106,121 108,243 70,000 71,400 72,828 74,285 75,770 440,000 400,000 35,758 35,758 - - - 645,758 609,158 176,868 180,405 184,013 234,242 (209,158) (176,868) (180,405) (184,013) (440,000) (440,000) (400,000) (645,758) (609,158) (176,868) (180,405) (184,013) 278 TOWN OF WESTLAKE FIVE YEAR FORECAST All Municipal Funds DESCRIPTION ESTIMATED 1 23 4 5 FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 Revenues 2.0% 6,060 Transfers In 2.0% - Total Revenues & Transfers In 131,184 6,060 Expenditures 3.0% (6,440) Transfers Out 3.0% 104,768 Total Expenditures & Transfers Out NET R&Tl • - • 131,184 (6,440) :0 Beginning Fund Balance 104,768 147,621 Ending Fund Balance 14,515,964 147,241 Restricted/Committed/Assigned 14,927,513 147,241 Unassigned Ending Balance Restricted/Committed/Assigned 3,608,965 Revenues 3.0% 45 Transfers In 3.0% - Total Revenues & Transfers In 45 Expenditures 3.0% - Transfers Out 3.0% 6,060 6,181 6,305 6,431 6,560 6,060 6,181 6,305 6,431 6,560 (13,940) (14,358) (14,789) (15,233) (15,690) (13,940) ::• (14,358) (14,789) (15,233) :• (15,690) 147,241 139,361 131,184 122,700 113,898 139,361 131,184 122,700 113,898 104,768 139,361 131,184 122,700 113,898 104,768 13,796,000 Ending Fund Balance 14,515,964 11,475,350 12,164,374 45 46 48 49 51 45 46 48 49 5 Beginning Fund Balance 13,599 13,644 13,689 13,736 13,784 13,833 Ending Fund Balance 13,644 13,689 13,736 13,784 13,833 13,883 Restricted/Committed/Assigned 13,644 13,689 13,736 13,784 13,833 13,883 Total Revenues & Transfers in 16,362,091 20,023,481 18,250,266 20,420,953 16,564,462 23,851,631 Total Expenditures & Transfers Out NET R&TI • • (26,271,434) •• (23,064,095) (17,561,242) (17,657,813) (17,695,976) (23,674,864) Beginning Fund Balance 24,425,307 14,515,964 11,475,350 12,164,374 14,927,513 13,796,000 Ending Fund Balance 14,515,964 11,475,350 12,164,374 14,927,513 13,796,000 13,972,767 Restricted/Committed/Assigned 3,608,965 1,706,170 2,580,680 4,670,179 3,729,789 3,982,220 Unassigned Ending Balance 1 10,906,999 1 1 9,769,1801 9,583,6941 10,257,334 1 10,066,210 1 9,990,547 279 APPENDIX SECTION ft 'a, %�- W-- lle- - - E 1 ADOPTED 09-22-2014 a L E S- LL ISI ,. MISSION STRATEGY 3'HE TOWN Of 11M1!'ESYLAKE * 3'41iLLAGE CIRCLE #202 * WE5TLAl{EO TEXAS 76262 * `NWW.,L+uESrLAI[E-MC3R6 0 a s 1� ' x3. 09-22-2014 a L E S- LL ISI ,. MISSION STRATEGY 3'HE TOWN Of 11M1!'ESYLAKE * 3'41iLLAGE CIRCLE #202 * WE5TLAl{EO TEXAS 76262 * `NWW.,L+uESrLAI[E-MC3R6 0 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES MUNICIPAL OPERATIONS STATEMENT OF PURPOSE The overall intent of the following Fiscal and Budgetary Policy Statements is to enable the Town to achieve a long-term stable and positive financial condition. The watchwords of the Town's financial management include integrity, prudence, stewardship, planning, accountability, and full disclosure. The more specific purpose is to provide guidelines to the Town Manager and Finance Director in planning and directing the Town's day-to-day financial affairs and in developing recommendations to the Town Manger and Town Council. The scope of these policies generally span, among other issues, accounting, purchasing, auditing, financial reporting, internal controls, operating and capital budgeting, revenue management, cash and investment management, expenditure control, asset management, debt management, and planning concepts, in order to: A. Present fairly and with full disclosure the financial position and results of the financial operations of the Town in conformity with generally accepted accounting principles (GAAP), and B. Determine and demonstrate compliance with finance related legal and contractual issues in accordance with provisions of the Texas Local Government Code and other pertinent legal documents and mandates. The Town Council will annually review and approve the Fiscal and Budgetary Policy Statements as part of the budget process. II. SUMMARY OF POLICY INTENDED OUTCOMES This policy framework mandates pursuit of the following fiscal objectives: A. Operating Budget: Prepare, conservatively estimate revenues, present, and adopt the Town's annual operating plan. Revenues Management: Design, maintain, and administer a revenue system that will assure a reliable, equitable, diversified, and sufficient revenue stream to support desired Town services. C. Expenditure Control: Identify priority services, establish appropriate service levels, and administer the expenditure of available resources to assure fiscal stability and the effective and efficient delivery of services. D. Fund Balance/Retained Earnings: Maintain the fund balance and retained earnings of the various operating funds at levels sufficient to protect the Town's credit worthiness as well as its financial position from emergencies. E. Debt Management: Establish guidelines for debt financing that will provide needed capital equipment and infrastructure improvements while minimizing the impact of debt payments on current revenues. ME TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES F. Intergovernmental Relationships: Where feasible, coordinate efforts with other governmental agencies to achieve common policy objectives, share the cost of providing governmental services on an equitable basis and support favorable legislation at the State and Federal level. G. Grants: Seek, apply for and effectively administer within this policy's guidelines, Federal, State, and foundation grants-in-aid which address the Town's current priorities and policy objectives. H. Economic Development: Initiate where feasible, encourage, and participate in economic development efforts to create job opportunities and strengthen the local tax base and economy Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and forecast the Town's financial performance and economic condition. J. Financial Consultants: With available resources, seek out and employ the assistance of qualified financial advisors and consultants in the management and administration of the Town's financial functions. K. Accounting, Auditing, and Financial Reporting: Comply with prevailing Federal, State and local statues and regulations. Conform to generally accepted accounting principles as promulgated by the Government Accounting Standards Board (GASB), the American Institute of Certified Public Accountants (AICPA), and the Government Finance Officers Association (GFOA). L. Capital Improvement Plan/Budget and Program: Multi-year planning, forecasting, preparation, and control of the Town's capital improvement plan/budget. M. Capital Maintenance and Replacement: Annually review and monitor the state of the Town's capital equipment and infrastructure, setting priorities for its replacement and renovation based on needs, finding alternatives, and availability of resources. N. Internal Controls: To establish and maintain an internal control structure designed to provide reasonable assurances that the Town's assets are safeguarded and that the possibilities for material errors in the Town's financial records are minimized. III. OPERATING BUDGET A. Preparation - Budgeting is an essential element of the financial planning, control and evaluation process of municipal government. The "operating budget" is the Town's annual financial operating plan. The budget includes all of the operating departments of the Town, the debt service fund, all capital projects funds, and the internal service funds of the Town. The proposed budget will be prepared with the cooperation of all Town departments, and is submitted to the Town Manager who makes any necessary changes and transmits the document to the Town Council. A budget preparation calendar and timetable will be established and followed in accordance with State law. 282 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES Revenue Estimates for Budgeting - In order to maintain a stable level of services, the Town shall use a conservative, objective, and analytical approach when preparing revenue estimates. The process shall include analysis of probable economic changes and their impacts on revenues, historical collection rates, and trends in revenues. This approach should reduce the likelihood of actual revenues falling short of budget estimates during the year and should avoid mid -year service reductions. C. Balanced Budget - As per State Law, current operating revenues, including Property Tax Reduction Sales Tax transfers (which can be used for operations), will be sufficient to support current operating expenditures. Annually recurring revenue will not be less than annually recurring operating budget expenditures (operating budget minus capital outlay). Debt or bond financing will not be used to finance current expenditures. D. Proposed Budget Process - a proposed budget shall be prepared by the Town Manager with the participation of all of the Town's department directors. • The proposed budget shall include four basic segments for review and evaluation: (1) personnel costs, (2) base budget for operations and maintenance costs, (3) service level adjustments for increases of existing service levels or additional services, and (4) revenues. • The proposed budget review process shall include Council participation in the review of each of the four segments of the proposed budget and a public hearing to allow for citizen participation in the budget preparation. • The proposed budget process shall allow sufficient time to provide review, as well as address policy and fiscal issues, by the Town Council. • A copy of the proposed budget shall be filed with the Town Secretary when it is submitted to the Town Council as well as placed on the Town's website. E. Budget Adoption - Upon the determination and presentation of the final iteration of the proposed budget as established by the Council, a public hearing date and time will be set and publicized. The Council will subsequently consider a resolution which, if adopted, such budget becomes the Town's Approved Annual Budget. The adopted budget will be effective for the fiscal year beginning October 1. The approved budget will be placed on the Town's web site. F. Budget Award - Each year the Council approved operating budget will be submitted annually to the Government Finance Officers Association (GFOA) for evaluation and consideration for the Award for Distinguished Budget Presentation. G. Budget Amendments - Department Directors are responsible for monitoring their respective department budgets. The Finance Department will monitor all financial operations. The budget team will decide whether to proceed with a budget amendment and, if so, will then present the request to the Town Council. If the Council decides a budget amendment is necessary, the amendment is adopted in resolution format and the necessary budgetary changes are then made. H. Central Control - Modifications within the operating categories (salaries, supplies, maintenance, services, capital, etc.) can be made with the approval of the Town Manager. Modifications to reserve categories and interdepartmental budget totals will be made only by Town Council consent with formal briefing and Council action. 283 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES I. Planning - The budget process will be coordinated so as to identify major policy issues for Town Council by integrating it into the Council's overall strategic planning process for the Town. Each department shall have a multi-year business plan that integrates with the Town's overall strategic plan. J. Reporting - Monthly financial reports will be prepared by the Finance Department and distributed to and reviewed by each Director. Information obtained from financial reports and other operating reports is to be used by Directors to monitor and control departmental budget. Summary financial reports will be presented to the Town Council quarterly. K. Performance Measures & Productivity Indicators - Where appropriate, performance measures and productivity indicators will be used as guidelines to measure efficiency, effectiveness, and outcomes of Town services. This information will be included in the annual budget process as needed. L. Contingent Appropriation - During the budget process, staff will attempt to establish an adequate contingent appropriation in each of the operating funds. The expenditure for this appropriation shall be made only in cases of emergency, and a detailed account shall be recorded and reported. The proceeds shall be disbursed only by transfer to departmental appropriation. All transfers from the contingent appropriation will be evaluated using the following criteria: • Is the request of such an emergency nature that it must be made immediately? • Why was the item not budgeted in the normal budget process? • Why can't the transfer be made within the department? IV. REVENUES MANAGEMENT A. REVENUE DESIGN PARAMETER. The Town will pursue the following optimum characteristics in its revenue system: • Simplicity - The Town, where possible and without sacrificing accuracy, will strive to keep the revenue system simple in order to reduce costs, achieve transparency, and increase citizen understanding of Town revenue sources. • Certainty - A knowledge and understanding of revenue sources reliability increases the viability of the revenue system. The Town will understand, to the best of its ability, all aspects of its revenue sources and their performance, as well as enact consistent collection policies to provide assurances that the revenue base will materialize according to budgets, forecasts, and plans. • Equity - The Town shall make every effort to maintain equity in its revenue system: i.e. the Town shall seek to minimize or eliminate all forms of subsidization between entities, funds, services utilities, and customer classes within a utility. • Administration - The benefits of a revenue source will not exceed the cost of collecting that revenue. Every effort will be made for the cost of collection to be reviewed annually for cost effectiveness as a part of the Town's indirect cost and cost of service analysis. • Adequacy, Diversification and Stability - The Town shall attempt, in as much as is practical, to achieve a balance in its revenue system. The Town shall also strive to maintain a balanced and diversified revenue system to protect the Town from fluctuations in any one source due to changes in local economic conditions which 284 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES adversely impact that revenue source. B. OTHER CONSIDERATIONS. The following considerations and issues will guide the Town in its revenue policies concerning specific sources of funds: • Cost/Benefit of Incentives for Economic Development - The Town will use due caution in the analysis of any tax or fee incentives that are being considered to encourage economic development. A cost/benefit (fiscal impact) analysis will be performed as a part of the evaluation for each proposed economic development project. • Non -Recurring Revenues - One-time or non-recurring revenues will not be used to finance on-going operational costs. Non-recurring revenues will be used only for one- time expenditures such as long-lived capital needs or one-time major maintenance projects that occur infrequently. Non-recurring revenues will not be used for budget balancing purposes except to cover the one-time expenditures described above. • Investment Income - Earnings from investment of available monies, whether pooled or not, will be distributed to the funds in accordance with the equity balance of the fund from which monies were provided to be invested. • Property Tax Revenues - The Town shall endeavor to avoid a property tax by revenue diversification, implementation of user fees, and economic development. C. USER -BASED (DEMAND DRIVEN) FEES AND SERVICE CHARGES. For services that are demand driven and can be associated with a user fee or charge, the direct and indirect costs of that service will be offset by a fee where possible. The Town staff will endeavor to prepare a review of all fees and charges annually, but not less than once every three years, in order to ensure that these fees provide for, at minimum, full cost recovery of service. D. ENTERPRISE FUND RATES. Utility rates and rate structures for water and sewer services will be constructed to target full cost of service recovery. Annually the Town will review and adopt water and sewer utility rates and a rate structure that generates revenue sufficient to fully cover operating expenses, meet the legal restrictions of all applicable bond covenants, provide for an adequate level of working capital, and recover applicable general/administrative costs. The Solid Waste function will have rates that fully recover all costs and maintain an adequate balance. The Cemetery Fund will be structured to operate on lot sales and endowments. General and Administrative (G&A) Charges - Where feasible, G&A costs will be charged to all funds for services of indirect general overhead costs, which may include general administration, finance, customer billing, facility use, personnel, technology, engineering, legal counsel, and other costs as deemed appropriate. These charges will be determined through an indirect cost allocation study following accepted practices and procedures. E. INTERGOVERNMENTAL REVENUES. As a general rule, intergovernmental revenues (grants) will not be utilized for on-going operating costs. Any potential grant opportunity will be examined to identify all costs related to matching and continuation of program requirements. Staff will focus on one-time grants to avoid long-term implications. If it is determined that accepting a grant with on-going cost conditions is in the interests of the Town, all the operating and maintenance costs must be included in the financial forecast and their ultimate effect on operations and revenue requirements be known. TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES F. REVENUE MONITORING. Revenues as they are received will be regularly compared to budgeted revenues and variances will be investigated. This process will be summarized in the appropriate budget report. G. SPECIAL REVENUE / EDUCATIONAL FUNDS. Where feasible and practical, General and Administrative Charges (G&A) for special revenue and educational funds of the Town of Westlake will be determined on an annual basis and transfers will be made where sufficient revenue exists to cover the associated expenditures. V. EXPENDITURE CONTROL A. Appropriations -The point of budgetary control is at the department level in the General Fund and at the fund level in all other funds. When budget adjustments among Departments and/or funds are necessary, they must be approved by the Town Council. B. Current Funding Basis - The Town shall operate on a current funding basis. Expenditures shall be budgeted and controlled so as not to exceed current revenues plus the planned use of fund balance accumulated through prior year savings. (The use of fund balance shall be guided by the Fund Balance/Retained Earnings Policy Statements.) C. Avoidance of Operating Deficits - The Town shall take immediate corrective actions if at any time during the fiscal year expenditure and revenue re -estimates are such that an operating deficit (i.e., projected expenditures in excess of projected revenues) is projected at year-end. Corrective actions can include a hiring freeze, expenditure reductions, fee increases, or use of fund balance within the Fund. D. Balance/Retained Earnings Policy- Expenditure deferrals into the following fiscal year, short- term loans, or use of one-time revenue sources shall be avoided to balance the budget. E. Maintenance of Capital Assets - Within the resources available each fiscal year, the Town shall maintain capital assets and infrastructure at a sufficient level to protect the Town's investment, to minimize future replacement and maintenance costs, and to continue service levels. F. Periodic Program Reviews - The Town Manager shall undertake periodic staff and third - party reviews of Town programs for both efficiency and effectiveness. Privatization and contracting with other governmental agencies will be evaluated as alternative approaches to service delivery. Programs which are determined to be inefficient and/or ineffective shall be reduced in scope or eliminated. G. Salary - The Town shall strive to maintain competitive salary levels for municipal employees. A salary survey will be conducted through a sampling of surrounding and comparable municipal organizations to create a comparison. The Town will strive to maintain salary levels within three percent (3%) of the median of surveyed benchmark municipalities. TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES H. Purchasing - The Town shall make every effort to maximize any discounts offered by creditors/vendors. Staff shall also use competitive bidding in accordance to State law, as well as intergovernmental partnerships and purchasing cooperatives to attain the best possible price on goods and services. Prompt Payment - All invoices will be paid within 30 days of receipt in accordance with the prompt payment requirements of State law. VI. FUND BALANCE/RETAINED EARNINGS A. General Fund Undesignated Fund Balance - The Town shall strive to maintain the General Fund undesignated fund balance at, or in excess of, 90 days of operation. B. Retained Earnings of Other Operating Funds - In the Utility Fund, the Town shall strive to maintain positive retained earnings positions to provide sufficient reserves for emergencies and revenue shortfalls. C Use of Fund Balance - Fund Balance will be targeted to only be used with Council approval and can be only be used for the following: emergencies, non-recurring expenditures, such as technology/FF&E (furniture, fixtures and equipment), or major capital purchases that cannot be accommodated through current year savings. Should such use reduce the balance below the appropriate level set as the objective for that fund, recommendations will be made on how to restore it. The Council shall approve all commitments by formal action. The action to commit funds must occur prior to fiscal year- end, to report such commitments in the balance sheet of the respective period, even though the amount may be determined subsequent to fiscal year-end. A commitment can only be modified or removed by the same formal action. The Council delegates the responsibility to assign funds to the Town Manager or his/her designee. The Council shall have the authority to assign any amount of funds. Assignments may occur subsequent to fiscal year-end. The Council will utilize funds in the following spending order: Restricted, Committed, Assigned, Unassigned VII. DEBT MANAGEMENT A. Debt Issuance Analysis - All consideration of debt issuance for major capital assets will be prepared within the framework of a Council approved multi-year capital improvement plan and forecast for all Town facilities and infrastructure. B. Analysis of Debt Issuance and Debt Issuance Alternatives - Staff will explore alternatives to the issuance of debt for capital acquisitions and construction projects. These alternatives will include, but not be limited to, (1) grants- in- aid, (2) use of reserves, (3) use of either current on-going general revenues or one-time revenues, (4) contributions from developers and others, (5) leases, (6) user fees, and (7) impact fees. C. Use of Debt Financing - The useful life of the asset or project shall, at a minimum, exceed the payout schedule of any debt the Town assumes. Debt financing instruments to be considered by the Town may include: 287 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES • General obligation bonds - These must be authorized by a vote of the citizens of Westlake. • Revenue bonds - These bonds generate capital requirements necessary for continuation or expansion of a service which produces revenue and for which the asset may reasonable be expected to provide for a revenue stream to fund the debt service requirement. • Certificates of obligation - These can be authorized by Council approval with debt service by either general revenues or backed by a specific revenue stream or a combination of both. • Lease/purchase agreements - These shall only be used to purchase capital assets that cannot be financed from either current revenues or fund balance/retained earnings and to fund infrastructure improvements and additions. D. Assumption of Additional Debt - The Town shall not assume more tax -supported general purpose debt than it retires each year without first conducting an objective analysis as to the community's ability to assume and support additional debt service payments. E. Affordability Targets - The Town shall use an objective multi-year analytical approach to determine whether it can afford to assume new general purpose debt beyond what it retires each year. This process shall compare generally accepted standards of affordability to the current values for the Town. The process shall also examine the direct costs and benefits of the proposed expenditures. The decision on whether or not to assume new debt shall be based on these costs and benefits and on the Town's ability to "afford" new debt as determined by the aforementioned standards. The Town shall strive to achieve and/or maintain these standards at a low to moderate classification. Debt Structure - The Town shall structure its debt payment schedules for general purpose debt to ensure level principal repayment schedules. The Town shall not assume any debt with "balloon' repayment schedules which consist of low annual payments and one large payment of the balance due at the end of the term. While balloon payment structures minimize the size of debt payments during the period, they force a large funding requirement on the budget of the final year. Given the uncertainties of the future, level payment schedules improve budget planning and financial management. G. Sale Process - The Town shall use a competitive bidding process in the sale of debt unless the nature of the issue warrants a negotiated bid. The Town shall award bonds based on a true interest cost (TIC) basis as long as the financial advisor agrees that the TIC basis can satisfactorily determine the lowest and best bid. H. Bond Rating Agencies Presentations - Full disclosure of operations and open lines of communication shall be made to the bond rating agencies. Town staff, with assistance of financial advisors, shall prepare the necessary materials and presentation to the bond rating agencies. Continuing Disclosure - The Town is committed to continuing disclosure of financial and pertinent credit information relevant to the Town's outstanding securities. TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES J. Debt Refunding -Town staff and the financial advisor shall monitor the municipal bond market for opportunities to obtain interest savings by refunding outstanding debt. As a general rule, the present value savings of a particular refunding should exceed 3.5% of the refunded maturities. VIII. INTERGOVERNMENTAL RELATIONSHIPS The Town will pursue coordinated efforts with other governmental agencies to achieve common policy objectives, share the cost of providing government services on an equitable basis, and support favorable legislation at the State and Federal levels. A. Inter -local Cooperation in Delivering Services -In order to promote the effective and efficient delivery of services, the Town shall actively seek to work with other local jurisdictions in joint purchasing consortia, sharing facilities, sharing equitably the costs of service delivery, and developing joint programs to improve service to its citizens. B. Legislative Program -The Town shall cooperate with other jurisdictions to actively oppose any State or Federal regulation or proposal that mandates additional Town programs or services and does not provide the funding to implement them. Conversely, as appropriate, the Town shall support legislative initiatives that provide more funds for priority local programs. IX. GRANTS A. Grant Guidelines - The Town shall apply, and facilitate the application by others, for only those grants that are consistent with the objectives and high priority needs previously identified above in these policies. The potential for incurring on-going costs, to include the assumption of support for grant funded positions from local revenues, will be considered prior to applying for a grant. B. Grant Review - All grant submittals shall be reviewed for their cash match requirements, their potential impact on the operating budget, and the extent to which they meet the Town's policy objectives. If there are cash match requirements, the source of funding shall be identified prior to application. Staff will focus on one-time grants to avoid long-term implications related to additional expenditures in future years. C. Grant Program Termination - The Town shall terminate grant funded programs and associated positions when grant funds are no longer available unless alternate funding is identified. X. ECONOMIC DEVELOPMENT A. Positive Business Environment -The Town shall endeavor, through its regulatory and administrative functions, to provide a positive business environment in which local businesses can grow, flourish and create jobs. The Town Council and Town staff will be sensitive to the needs, concerns and issues facing local businesses. TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES Commitment to Business Expansion, Diversification, and Job Creation - The Town shall encourage and participate in economic development efforts to expand Westlake's economy to increase local employment. These efforts shall not only focus on newly developing areas but also on other established sections of Westlake where development can generate additional jobs and other economic benefits. C. Coordinate Efforts with Other Jurisdictions - The Town's economic development program shall encourage close cooperation with other local jurisdictions, chambers of commerce, and groups Interested in promoting the economic well-being of this area. D. Cost/Benefit of Incentives for Economic Development - The Town will use due caution in the analysis of any tax or fee incentives that are used to encourage economic development. A cost/benefit (fiscal impact) analysis will be performed as part of such evaluation for each prospect. Economic development agreements will contain performance language as to the business's proposed economic impact to Westlake in exchange for Town incentives with adequate "claw -back" provisions for the Town. XI. FISCAL MONITORING A. Financial Status and Performance Reports - Quarterly reports comparing expenditures and revenues to current budget, projecting expenditures and revenues through the end of the year, noting the status of fund balances to include dollar amounts and percentages, and outlining any remedial actions necessary to maintain the Town's financial position shall be prepared for review by the Town Manager and the Council. B. Compliance with Council Policy Statements - The Fiscal and Budgetary Policies will be reviewed annually by the Council and updated, revised or refined as deemed necessary. Policy statements adopted by the Council are guidelines, and occasionally, exceptions may be appropriate and required. However, exceptions to stated policies will be specifically identified, and the need for the exception will be documented and fully explained. XII. FINANCIAL CONSULTANTS To employ the assistance of qualified financial advisors and consultants as needed in the management and administration of the Town's financial functions. These areas include but are not limited to investments, debt administration, financial accounting systems, program evaluation, and financial impact modeling. Advisors shall be selected on a competitive basis using objective questionnaires and requests for proposals based on the scope of the work to be performed. XIII. ACCOUNTING, AUDITING, AND FINANCIAL REPORTING To comply with prevailing local, state, and federal regulations relative to accounting, auditing, and financial reporting. Accounting practices and financial reporting shall conform to generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board (GASB), the American Institute of Certified Public Accountants, (AICPA), and 290 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES the Government Finance Officers Association (GFOA). The Board shall select an independent firm of certified public accountants to perform an annual audit of all operations A. Accounting - The Town is solely responsible for the recording and reporting of its financial affairs, both internally and externally. The Town's Finance Director is responsible for establishing the structure for the Town's chart of accounts and for assuring that procedures are in place to properly record financial transactions and report the Town's financial position. External Auditing - Town will be audited annually by outside independent accountants (auditors). The auditors must be a CPA firm and must demonstrate significant experience in the field of local government auditing. They must conduct the town's audit in accordance with generally accepted auditing standards and be knowledgeable in the Government Finance Officers Association Certificate of Achievement program. The auditors' report on Town's financial statements will be completed within a timely period of the Town's fiscal year-end. The auditor will jointly review the management letter with the Town Council, if necessary. In conjunction with this review, the Finance Director shall respond in writing to the Town Council regarding the auditor's Management Letter, addressing the issued contained therein. The Town will not require auditor rotation, but will circulate request for proposal for audit services on a periodic basis as deemed appropriate. C. External Financial Reporting - Town will prepare and publish a comprehensive annual financial report (CAFR). The CAFR will be prepared in accordance with generally accepted accounting principles and will be presented annually to the Government Finance Officers Association (GFOA) for evaluation and awarding of the Certificate of Achievement for Excellence in Financial Reporting. D. Responsibility of Auditor to Town Council -The auditor is retained by and it accountable directly to the Town Council and will have access to direct communication with the Town Council if the Town Staff is unresponsive to auditor recommendations or if the auditor considers such communication necessary to fulfill its legal and professional responsibilities. E. Internal Financial Reporting - The Finance Department will prepare internal financial reports sufficient for management to plan, monitor, and control Town's financial affairs. XIV. CAPITAL BUDGET AND PROGRAM A. Preparation - The Town's capital budget will include all capital projects funds and all capital resources. While the capital budget will be prepared annually on a project basis, it will be based on an on-going, multi-year capital improvement plan (CIP) that shows all funded and unfunded projects as identified by staff for all Town facilities and infrastructure. The multi-year CIP will be reviewed annually, updated by staff and presented to the Council for its review and approval. The annual capital budget will be prepared by the Finance Department with the involvement of responsible departments based on the multi- year CIP. B. Control - All capital project expenditures must be appropriated in the capital budget. The Finance Director must certify the availability of resources before any capital project contract is presented to the Town Council for approval. 291 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES C. Program Planning - The capital budget will be taken from the capital improvements project plan for future years. The planning time frame for the capital improvements project plan should normally be five years, with a minimum of at least three years. The replacement and maintenance for capital items should also be projected for the next five years. Future maintenance and operational costs will be considered so that these costs can be included as appropriate in the annual budget. D. Financing Programs - Where applicable and with Council approval, impact fees, pro -rata charges, assessments, or other fees should be used to fund capital projects which have a primary benefit to specific, identifiable property owners. • Recognizing that long-term debt is usually a more expensive financing method, alternative financing sources will be explored before debt is issued. When debt is issued, it will be used to acquire major assets with expected lives which equal or exceed the average life of the debt issue. E. Reporting - Periodic financial reports will be prepared to enable the department directors to manage their capital budgets. Summary capital project status reports will be presented to the Town Council quarterly. XV. CAPITAL MAINTENANCE AND REPLACEMENT The Town recognizes that deferred maintenance and not anticipating capital replacement needs increases future capital costs. Annually, available funds will be evaluated during the budget process and a percentage of each operating fund's budget will be recommended to the Council for transfer. Upon approval by the Council, the recommended amount will be transferred to the appropriate funds (General or Utility Maintenance Replacement Fund) for major maintenance/ replacement of street, building roof, flooring, air conditioning, equipment, etc. XVI. INTERNAL CONTROLS A. Written Procedures - Whenever possible, written procedures will be established and maintained by the Finance Director for all functions involving purchasing, cash handling and/or accounting throughout the Town. These procedures will embrace the general concepts of fiscal responsibility set for in this policy statement. B. Department Directors' Responsibilities - Each department director is responsible for ensuring that good internal controls are followed throughout his/her department, that all directives or internal controls are implemented, and that all independent auditor internal control recommendations are addressed. Departments will develop and periodically update written internal control procedures. XVII. ASSET MANAGEMENT A. Investments -The Finance Director shall promptly invest all Town funds with the depository bank in accordance with the provisions of the current Bank Depository Agreement or in any negotiable instrument authorized by the Town Council. Further, investments shall be 292 TOWN OF WESTLAKE FISCAL AND BUDGETARY POLICIES made in accordance with the Investment Policy approved by the Town Council for the Town of Westlake that meets the requirements of the Public Funds Investment Act (PFIA), Section 2256 of the Texas Local Government Code. The Finance Director will issue quarterly reports on investment activity to the Town Council. Cash Management - Town's cash flow will be managed to maximize the cash available to invest. Such cash management will entail the centralization of cash collections, where feasibility, including utility bills, building and related permits and license, fines, fees, and other collection offices as appropriate. Periodic review of cash flow position will be performed to determine performance of cash management and conformance to investment policies. The underlying theme will be that idle cash will be invested with the intent to (1) safeguard assets, (2) maintain liquidity, and (3) maximize return. C. Fixed Assets and Inventory - Such assets will be reasonably safeguarded and properly accounted for and prudently insured. The fixed asset inventory will be updated regularly. D. Capitalization Criteria - For purposes of budgeting and accounting classification, the following criteria must be capitalized: • The asset is owned by the Town of Westlake • The expected useful life of the asset must be longer than one year, or extend the life on an identifiable existing asset by more than one year • The original cost of the asset must be at least $5,000 • The asset must be tangible • On-going repairs and general maintenance are not capitalized • New Purchases - All costs associated with bringing the asset into working order will be capitalized as part of the asset cost. This includes start up costs, engineering or consultant type fees as part of the asset cost once the decision or commitment to purchase the asset is made. The cost of land acquired should include all related costs associated with its purchase • Improvements and Replacement - Improvement will be capitalized when they extend the original life of an asset or when they make the asset more valuable than it was originally. The replacement of assets components will normally be expenses unless they are a significant nature and meet all the capitalization criteria. E. Computer System/Data Security -The Town shall provide security of its computer/network system and data files through physical and logical security systems that will include, but are not limited to: network user authentications, firewalls, content filtering, spam/virus protection, and redundant data backup. 293 INVESTMENT POLICY I. POLICY STATEMENT It is the policy of the Town of Westlake (the "Town") that the administration of its funds and the investment of those funds shall be handled as its highest public trust. Investments shall be made in a manner which will provide the maximum security of principal invested through limitations and diversification while meeting the daily cash flow needs of the Town and conforming to all applicable state and Town statutes governing the investment of public funds. The receipt of a market rate of return will be secondary to the requirements for safety and liquidity. It is the intent of the Town to be in complete compliance with local law and the Texas Public Funds Investment Act (the "Act", Texas Government Code 2256). The earnings from investments will be used in a manner that best serves the public trust and interests of the Town. II. SCOPE This Investment Policy applies to all the financial assets and funds held of the Town. Any new funds created by the Town will be managed under the provisions of this Policy unless specifically exempted by the Town Council and this Policy. III. OBJECTIVES AND STRATEGY It is the policy of the Town that all funds shall be managed and invested with four primary objectives, listed in order of their priority: safety, liquidity, diversification and yield. These objectives encompass the following. • Safety of Principal - Safety of principal is the foremost objective of the Town. Investments shall be undertaken in a manner that seeks to insure the preservation of capital in the overall portfolio. The suitability of each investment decision will be made on the basis of safety. • Liquidity - The Town's investment portfolio will remain sufficiently liquid to enable it to meet all operating requirements which might be reasonably anticipated. Investment decisions will be based on cash flow analysis of anticipated expenditures. • Diversification - Diversification is required in the portfolio's composition. Diversification of the portfolio will include diversification by maturity and market sector and will include the use of a number of broker/dealers or banks for diversification and market coverage. Competitive bidding will be used on each sale or purchase. • Yield - The Town's investment portfolio shall be designed with the objective of attaining a reasonable market yield, taking into account the Town's risk constraints and cash flow needs. A reasonable market yield for the portfolio will be defined as the six month (180 day) U.S. Treasury Bill which compares to the portfolio's maximum weighted average maturity of six months. The authorized investment purchased will be of the highest credit quality and marketability supporting the objectives of safety and liquidity. Securities, when not matched to a specific liability, will be short term to provide adequate liquidity. The portfolio shall be diversified to protect against market and credit risk in any one sector. 294 INVESTMENT POLICY The maximum weighted average maturity of the portfolio will be no more than 180 days and the maximum stated maturity of any security will not exceed two years. The funds are combined for investment purposes but the unique needs of all the funds in the portfolio are recognized and represented. Effective cash management is recognized as essential to good fiscal management. Cash management is defined as the process of managing monies in order to ensure maximum cash availability. The Town shall maintain a cash management program which includes timely collection of accounts receivable, prudent investment, disbursement of payments within invoice terms and the management of banking services. IV. LEGAL LIMITATIONS, RESPONSIBILITIES AND AUTHORITY Specific investment parameters for the investment of public funds in Texas are stipulated in the Public Funds Investment Act, Chapter 2256, Texas Government Code, (the "Act"). The Act is attached as Exhibit A. The Public Funds Collateral Act, Chapter 2257, Texas Government Code, specifies collateral requirements for all public funds deposits. The Collateral Act is attached as Exhibit B. The Interlocal Cooperation Act, Chapter 791, Texas Government Code, authorizes local governments in Texas to participate in a Texas investment pool established thereunder. V. DELEGATION OF INVESTMENT AUTHORITY The Finance Director, acting on behalf of the Council, is designated as the Investment Officer of the Town and is responsible for all investment management decisions and activities. The Council is responsible for considering the quality and capability of staff, investment advisors, and consultants involved in investment management and procedures. All participants in the investment process shall seek to act responsibly as custodians of the public trust. The Investment Officer shall develop and maintain written administrative procedures for the operation of the investment program which are consistent with this Investment Policy. Procedures will include safekeeping, wire transfers, banking services contracts, and other investment related activities. The Investment Officer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials and staff. The Investment Officer shall designate a staff person as a liaison/deputy in the event circumstances require timely action and the Investment Officer is not available. No officer or designee may engage in an investment transaction except as provided under the terms of this Policy and the procedures established by the Investment Officer and approved by the Town Manager. VI. PRUDENCE The standard of prudence to be used in the investment function shall be the "prudent person" standard and shall be applied in the context of managing the overall portfolio. 295 INVESTMENT POLICY This standard states: "Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the expected income to be derived." Limitation of Personal Liability - The Investment Officer and those delegated investment authority, when acting in accordance with the written procedures and this Policy and in accord with the Prudent Person Rule, shall be relieved of personal liability in the management of the portfolio provided that deviations from expectations for a specific security's credit risk or market price change are reported in a timely manner and that appropriate action is taken to control adverse market effects. VII. INTERNAL CONTROLS The Investment Officer shall establish a system of written internal controls which will be reviewed annually with the independent auditor of the Town. The controls shall be designed to prevent loss of public funds due to fraud, employee error, and misrepresentation by third parties, or imprudent actions by employees of the Town. VIII. AUTHORIZED INVESTMENTS Acceptable investments under this policy shall be limited to the instruments listed below. The choice of high-grade government investments and high-grade, money market instruments are designed to assure the marketability of those investments should liquidity needs arise. • Obligations of the United States Government, its agencies and instrumentalities, not to exceed two (2) years to stated maturity and excluding mortgage backed securities; • Fully insured or collateralized certificates of deposit from a bank doing business in the State of Texas and under the terms of a written depository agreement with that bank, not to exceed one year to stated maturity; • No-load, SEC registered money market mutual funds. No more than 80% of the entity's monthly average balance may be invested in money market funds • Public Funds interest bearing accounts; and • Constant dollar, AAA -rated Texas Local Government Investment Pools as defined by the Public Funds Investment Act. If additional types of securities are approved for investment by public funds by state statute, they will not be eligible for investment until this Policy has been amended and the amended version adopted by the Council. Delivery versus Payment - All investment security transactions shall be conducted on a delivery versus payment (DVP) basis to assure that the Town has control of its assets and/or funds at all times. 296 INVESTMENT POLICY IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS Securities broker/dealers may be primary or regional broker/dealers and will meet other criteria as determined by the Investment Officer including state registration and completion of a Town Broker/Dealer questionnaire (attached as Exhibit D). The following criteria must be met by authorized firms. • annual provision of an audited financial statement, • proof of certification by the National Association of Securities Dealers (NASD) • proof of current registration with the Texas State Securities Commission, and • completion of the Town's broker/dealer questionnaire. Every bank and broker/dealer with whom the Town transacts business will be provided a copy of this Investment Policy to assure that they are familiar with the goals and objectives of the investment program. The firm will be required to return a signed copy of the Certification Form (attached as Exhibit C) certifying that the Policy has been received and reviewed and only those securities approved by the Policy will be sold to the Town. X. DIVERSIFICATION AND MATURITY LIMITATIONS It is the policy of the Town to diversify its investment portfolio. Invested funds shall be diversified to minimize risk or loss resulting from over -concentration of assets in a specific maturity, specific issuer, or specific class of securities. Diversification strategies shall be established and periodically reviewed. XI. SAFEKEEPING AND COLLATERALIZATION The laws of the State and prudent treasury management require that all purchased securities be bought on a delivery versus payment (DVP) basis and be held in safekeeping by either an approved, independent third party financial institution or the Town's designated depository. Securities Owned by the Town - All safekeeping arrangements shall be approved by the Investment Officer and an agreement of the terms executed in writing. The safekeeping bank may not be within the same holding company as the bank from which the securities are purchased. The custodian shall be required to issue original safekeeping receipts to the Town listing each specific security, rate, description, maturity, CUSIP number, and other pertinent information. Collateral - Collateralization shall be required on all bank time and demand deposits for principal and accrued interest amounts over the FDIC insurance coverage of $100,000 (by tax identification number). In order to anticipate market changes and provide a level of additional security for all funds, collateral with a market value equal to 102% of the total deposits are required. The pledging bank will be made contractually liable for monitoring and maintaining the collateral levels at all times. All collateral will be held by an independent third party bank outside the holding company of the bank, pledged to the Town. Authorized collateral will include only: • Obligations of the US Government, its agencies and instrumentalities to include mortgage backed securities which pass the bank test, • Municipal obligations rated at least A by two nationally recognized rating agencies. • The custodian shall be required to provide original safekeeping receipts clearly marked that the security is pledged to the Town. 297 INVESTMENT POLICY XII. REPORTING The Investment Officer shall submit quarterly reports to the Council containing sufficient information to permit an informed outside reader to evaluate the performance of the investment program and in full compliance with the Act. At a minimum the report shall contain: • Beginning and ending market value of the portfolio by market sector and total portfolio • Beginning and ending book value of the portfolio by market sector and total portfolio • Change in market value during the period • Detail on each asset (book, market, description, par ad maturity date) • Earnings for the period • Overall weighted average maturity of the portfolio The report will be prepared jointly by all involved in the investment activity and be signed by the Investment Officer. It will contain all elements as required by the Act and be signed by the Investment Officers as in compliance with the Act and this Policy. Market prices for assignment of market values will be obtained from an independent source. The three month Treasury Bill average yield for the reporting period will be reported as a gauge of performance and risk. XIII. DEPOSITORIES The Town will designate one banking institution through a competitive process as its central banking services provider at least every five years. This institution will be used for normal banking services including disbursements, deposits, and safekeeping of Town owned securities. Other banking institutions from which the Town may purchase only certificates of deposit will also be designated as a depository. All banking arrangements will be in written form in accordance with FIRREA which requires a resolution of approval of the agreement by the Bank Council or Bank Loan Committee. XIV. INVESTMENT POLICY ADOPTION BY COUNCIL The Town's Investment Policy and its incorporated strategies shall be adopted by ordinance annually by the Council. go Account: A separate financial reporting unit for budgeting, management, or accounting purposes. All budgetary transactions, whether revenue or expenditure, are recorded in accounts. Adopted Budget: The budget as modified and finally approved by the Town Council. The adopted budget is authorized by resolution that sets the legal spending limits for the fiscal year. Accounts Payable: A liability account reflecting amount of open accounts owed to private persons or organizations for goods and services received by a government (but not including amounts due to other funds of the same government or to other governments). Accounts Receivable: An asset account reflecting amounts owed to open accounts from private persons or organizations for goods or services furnished by the government. Accrual Accounting: Recognition of the financial effects of transactions, events, and circumstances in the period (s) when they occur regardless of when the cash is received or paid. GLOSSARY OF TERMS Activity: A service Balance Sheet: The basic performed by a financial statement, which department or division. discloses the assets, liability, and equities of an Allocation: Apart of a entity at a specific date in lump -sum amount, which is conformity with General designated for Accepted Accounting expenditure by specific Principles. organization units and/or for special purposes, Balanced Budget: A activities, or objects. budget adopted by the Amortization: Payment of Town Council and principal plus interest over authorized by resolution a fixed period of time. where the proposed expenditures are equal to Appropriation: An or less than the proposed authorization made by the revenues plus fund legislative body of a balances. government, which permits officials to incur Basis of Accounting: A obligations against and to term used referring to make expenditures of when revenue, governmental resources. expenditures, expenses, Specific appropriations are and transfers - and related usually made at the fund assets and liabilities - are level and are granted for a recognized in the one-year period. accounts and reported in the Town's financial Appropriation Ordinance: statements. The official enactment by the legislative body Bond: A written promise to establishing the legal pay a specified sum of authority for officials to money, called the face obligate and expend sum of money, called the resources. principal amount, at a specified date or dates in Assets: Resources owned the future, called the or held by the Town which maturity date(s), together has monetary value. with periodic interest at a specified rate. Audit: An examination, usually by an official or a Bond Covenant: A legally private accounting firm enforceable agreement retained by the Town with bondholders that Council, of organization requires the governmental financial statements and agency selling the bond to the utilization of resources. meet certain conditions in the repayment of the debt. 299 Bond Ordinance: A law approving the sale of bonds that specifies how proceeds may be spent. Bond Funds: Resources derived from issuance of bonds for financing capital improvements. Budget: The Town's financial plan for a specific fiscal year that contains an estimate of proposed expenditures and the proposed means of financing them. Budget Amendment: A revision of the adopted budget that, when approved by the Council, replaces the original provision. Budget Calendar: Schedule of key dates which the Town follows in the preparation and adoption of the budget. Budget Document: Instrument used by the budget -making authority to present a comprehensive financial plan of operations to the Town Council. Budgetary Control: The control or management of the organization in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and revenues. GLOSSARY OF TERMS Capital Expenditures: Any Council: The Mayor and major non-recurring five council members expenditure or collectively acting as the expenditure for facilities, legislative and including additions or policymaking body of the major alterations, town construction of highways or utility lines, fixed Current Assets: Those equipment, landscaping assets which are available or similar expenditures. or can be made readily available to finance Cash Basis: A basis of current operations or to accounting under which pay current liabilities. Those transactions are assets which will be used recognized when cash up or converted into cash changes hand within one year. Some examples are cash, Certificates of Obligations temporary investments, (CO's): Similar to general and accounts receivable obligation bonds except collected within one year. certificates require no voter approval. Current Liabilities: Debt or Comprehensive Annual other legal obligation Financial Report (CAFR): arising out of transactions This report summarizes in the past which must be financial data for the liquidated, renewed, or previous fiscal year in a refunded within one year. standardized format. Debt Service Fund: A fund Contingency: A budgetary used to account for the reserve set aside for moneys set aside for the emergencies or payment of interest and unforeseen expenditures principal to holders of the not otherwise budgeted. Town's general obligation and revenue bonds, the Contractual Services: The sale of which finances costs related to services long-term capital performed for the Town by improvements, such as individuals, businesses, or facilities, streets and utilities. drainage, parks and water/wastewater systems. Cost: The amount of money or other Deficit: The excess of consideration exchanged expenditures over for property or services. revenues during an Cost may be incurred accounting period; or, in before money is paid; that the case of proprietary is, as soon as liability is funds, the excess of incurred. expense over income 300 GLOSSARY OF TERMS during an accounting Exempt: Personnel not other than buildings, period. eligible to receive machinery, and overtime pay and who are equipment. Department: A major expected to work administrative division of whatever hours are Franchise Fee: A fee the Town that indicates necessary to complete levied by the Town Council overall management their job assignments. on businesses that use responsibility for an Town property or right -of - operation or a group of Expenditures: Outflow or way. This fee is usually related operations within a non -enterprise funds paid charged as a percentage functional area. or to be paid for an asset of gross receipts. obtained or goods and Depreciation: Change in services obtained. Full -Time Equivalent (FTE): the value of assets The measure of authorized (equipment, buildings, etc. Expenses: Outflow of personnel often referred to with a useful life of 5 years enterprise funds paid or to as worker -years. The full or more) due to the use of be paid for an asset time equivalent of 1 the asset. obtained or goods and person (1 FTE) services obtained. approximately represents EMS: Emergency Medical 2080 hours of work per Services Fiscal Policy: The Town's year. policies with respond to Encumbrances: The spending and debt Fund: A fiscal and commitment of management as they accounting entity with a appropriated funds to relate to government self -balancing set of purchase an item or services, programs, and accounts recording cash service. capital investments. and other financial Reflect a set off principals resources, together with all Enterprise Fund: A fund for the planning and related liabilities and established to account for programming of residual equities or operations that are government budgets. balances, and changes financed and operated in therein, which are a manner similar to private Fiscal Year: A 12 -month segregated for the business enterprises - period to which the annual purpose of carrying on where the intent of the operating budget applies specific activities or governing body is that the and at the end of which a attaining certain costs of providing goods or government determines its objectives in accordance services to the general financial position and the with special regulations, public on a continuing result of its operations. The restrictions, or limitations. basis be financed or Town of Westlake's fiscal recovered primarily year begins each October Fund Accounting: A through user charges. 1 st and ends the following governmental accounting September 30th. system that is organized Excess Fund Balance: The and operated on a fund excess of a fund's current Fixed Assets: Assets of a basis. assets over its current long-term character, liabilities and required which are intended to Fund Balance: The excess reserve limits. continue to be held or of a fund's current assets used, such as land, over its current liabilities, buildings, improvements sometimes called working 301 capital or fund equity. A negative fund balance is often referred to as a deficit. GAAP -Generally Accepted Accounting Principles: Uniform minimum standards and guidelines for financial accounting and reporting. They govern the form and content of the financial statements of an entity. GAAP encompass the conventions, rules and procedures necessary to define accepted accounting practice at a particular time. They include not only broad guidelines of general applications, but also detailed practices and procedures. GAAP provide a standard by which to measure financial presentations. GASB: Acronym for Government Accounting Standards Board, an independent, non-profit agency responsible for the promulgation of accounting and financial reporting procedures for governmental entities. GFOA: Government Finance Officers Association of the United States and Canada General Fund: The fund used to account for all financial resources except those required to be accounted for in another GLOSSARY OF TERMS fund. The General Fund is Inter -fund transfer: The tax supported. transfer of money from one fund to another. General Obligation Bonds: Bonds sold and Investments: Securities and guaranteed by the Town, real estate held for the in which the full faith and production of revenues in credit of the Town is the form of interest, pledged for repayment. dividends, rentals, or lease payments. Governmental Funds: The funds through which most ISO: Insurance Service governmental functions Office. The system to typically are financed. The determine the rating of a acquisition, use, and fire department. A scale financial resources and the of 1 to 10, with 1 being the related current liabilities best score. This ISO rating are accounted for through schedule examines many governmental funds factors relating to local fire (General, Special departments, especially Revenue, Capital Projects, focusing on training and and Debt Service Funds). equipment, and also examines the locations of Goal: Generalized the fire stations in the statements of where an community. organization desires to be at some future time with L.F. (Linear feet): Length in regard to certain feet. operating elements (e.g. financial condition, service Lift Station: The Town's levels provided, etc.) collection system relies on gravity to collect water. Grant: A contribution by a When the system gets to government or other an unreasonable depth, a organization to support a lift station pumps the water particular function. to a higher elevation so Typically, these the gravity process can contributions are made to begin again. local governments from state or federal Line -item budget: A governments. budget format in which departmental outlays are Infrastructure: Basic public grouped according to the investments such as streets, items that will be storm drainage, water and purchased. sewer lines, streetlights and sidewalks. MGD: Million gallons per day. 302 GLOSSARY OF TERMS Maintenance: The upkeep the expenditures such as Prompt Payment Act: of physical properties in office supplies or rental of Adopted in July, 1985 by condition for use or equipment. the State, the Act requires occupancy. Examples are the Town to pay for goods the inspection of Objectives: Specific, and services within 30 days equipment to detect measurable targets set in of receipt of invoice or the defects and the making of relation to goals. goods or services, repairs. whichever comes later. If Operating Budget: Plan for this is not satisfied, the Modified Accrual current expenditures and Town may be charged Accounting: This method the proposed means of interest on the unpaid of accounting is a financing them. The balance at the rate of 1% combination of cash and annual operating budget per month. accrual accounting since is the primary means by expenditures are which most of the Property Tax Reduction immediately incurred as a financing, acquisition, Sales Tax (PTR): '/2 cent liability while revenues are spending, and service sales tax approved by the not recorded until they are delivery activities of the Town of Westlake voters in actually received or are Town are controlled. The May, 2006. Texas law "Measurable" and use of annual operating allowed the Town to "available for budgets is required by collect the new'/2 cent expenditure". This type of State law. sales tax that does not accounting basis is share the restrictive conservative and is Operating Expenditure: spending limitations on recommended as the Expenditure on an existing revenues designated to standard for most item of property or the 4A Economic government funds. equipment that is not a Development Fund '/2 cent capital expenditure. sales tax. 4A sales tax was Municipal: Of or dissolved and replaced pertaining to a Town or its Ordinance: An with this sales tax. government. authoritative command or order. This term is used for Proposed Budget: The Non -departmental: laws adopted by a financial plan initially Accounts for expenditures municipality. developed by or professional services departments and and other general Performance Measures: presented by the Town government functions, Specific quantitative Manger to the Town which cannot be measures of work Council for approval. allocated to individual performed within an departments. activity or program. They Proprietary Funds: may also measure results Operation that operates Non-exempt: Personnel obtained through an like a private operation, in eligible to receive activity or program. which services are overtime pay when financed through user overtime work has been Personnel Services: charges and expenditures authorized or requested by Expenditures for salaries, include the full cost of the supervisor. wages and related fringe operations. benefits of Town Object Code: The employees. Public Hearing: An open standard classification of meeting regarding 303 proposed operating or capital budget allocations, which provide citizens with an opportunity to voice their views on the merits of the proposals. PVC: Acronym for polyvinyl chloride, a plastic compound used for water and sewer pipes. Reserve: An account used to indicate that a portion of fund resources is restricted for a specific purpose, or is not available for appropriation and subsequent spending. Resolution: A formal statement of opinion or determination adopted by an assembly or other formal group. Resources: Total dollars available for appropriations, including estimated revenues, fund transfers, and beginning fund balances. Retained Earnings: The excess of total assets over total liabilities for an enterprise fund. Retained earnings include both short-term and long-term assets and liabilities for an enterprise fund. Revenues: Funds that the government receives as income. It includes such items a tax payment, fees from specific services, receipts from other governments, fines for forfeitures, grants, shared revenues and interest income. ROW: Acronym for right-of- way. Sales Tax: A general "sales tax" is levied on persons and businesses selling merchandise or services in the town limits on a retail basis. The categories for taxation are defined by state law. Monies collected under authorization of this tax are for the use and benefit of the town. SCADA: Acronym that stands for Supervisory Control and Data Acquisition. SCADA refers to a system that collects data from various sensors at a remote location and then sends this data to a central computer which then manages and controls the data. Special Revenue Fund: A fund used to account for the proceeds of specific revenue sources that are legally restricted to expenditure for specified purposes. Supplies: A cost category for minor items (individually priced at less than $5,000) required by departments to conduct their operations. TMRS: Acronym for the Texas Municipal Retirement System, a pension plan for employees of member 304 GLOSSARY OF TERMS cities within the State of Texas. TRA: Trinity River Authority - A separate governmental entity responsible for providing water and wastewater services in the Trinity River basin. The Town contracts with TRA for treatment of wastewater. TXDOT: Texas Department of Transportation Transfer -In: Funds expended in one fund and received in other. User Charges: The payment of a fee for direct receipt of a public service by the party benefiting from the service. Working Capital: Budgeted working capital is calculated as a fund's current assets less current liabilities and outstanding encumbrances. Working capital does not include long-term assets or liabilities. For budgetary purposes, working capital, rather than retained earnings, is generally used to reflect the available resources of enterprise funds. TOWN OF WESTLAKE ORDINANCE NO. 737 AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS, REVISING THE BUDGET FOR THE 2013^2014 FISCAL YEAR; ADOPTING THE BUDGET FOR THE TOWN OF WESTLAKE, TEXAS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2014 AND ENDING SEPTEMBER 30, 2015 INCLUDING INVESTMENT POLICY, FISCAL AND BUDGETARY POLICIES, RESTRICTED, COMMITTED AND ASSIGNED FUND BALANCES; PROVIDING AUTHORIZATION TO THE TOWN MANGER TO APPROVE APPROPRIATED FUNDS UP TO $25,000; PROVIDING THAT THE BUDGET TO BE KEPT IN CITY SECRETARY'S OFFICE; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, public notice of a public hearing on the proposed annual budget, stating the date, time, and place and subject matter of the public hearing, was given as required by the laws of the State of Texas and; and WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein on September 22, 2014;.and, WHEREAS, as required by Texas Local Government Code 102.002, the budget officer has prepared a municipal budget to cover the proposed expenditures of the municipal government for the succeeding year; and, WHEREAS, the Town Council finds that the passage of this Ordinance is in the best interest of the citizens of Westlake. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That, all matters stated in the Recitals hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety SECTION 2: That the Town Council hereby adopts the revised budget for the fiscal year beginning October 1, 2013 and ending September 30, 2014 as shown within Exhibit `iA." SECTION 3: That the Town Council does hereby approve the proposed Municipal Budget attached as Exhibit "A", adopting the budget for the fiscal year beginning October 1, 2014 and ending September 30, 2015. SECTION 4: That the Town Council hereby gives the Town Manager authorization to approve any appropriated funds up to the amount of $25,000. Ordinance 737 Page 1 of 2 305 SECTION 5: That a copy of the official adopted 2014-2015 budget document shall be kept on file in the office of the Town Secretary, SECTION 6: if any portion of this Ordinance shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Ordinance without the invalid provision. SECTION 7: That this Ordinance shall become effective from and after its date of passage. PASSED AND APPROVED ON TMS 22nd DAY OF SEPTEMBER 2014. ATTEST: II Kelly Edward ,)Town Secretary APPROVL tan,rney 306 Z . 16�_,et7 La a L. Wheat, Mayor awM—anager Ordinance 737 Page 2 of 2 This page is intentionally blank 307