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Home My WebLink AboutPresentation_Regular_12/8/2022 (4)Financial Overview 1 December 8, 2022 22-- Financial Overview 2 2022. operations for the various Village funds as of and for the year ending September 30, represent the results of (subject to change) and The amounts herein are unaudited for the preceding fiscal year. close of each fiscal year, a complete report of the operation and business of the Village Charter, which requires submission to the Village Council, within ninety (90) days after the 3.03(10) of the Village Article III, Section This financial overview is presented pursuant to Objectives:22-FY 2021– Listing of Village Funds by Type 3 from user fees and charges.receive a significant portion of support Enterprise funds account for activities that grants and similar revenue sources.for activities primarily supported by taxes, Governmental funds are used to account FundRefuse and Recycling •Stormwater Utility Fund•Water Utility Fund•Enterprise FundsEnforcement FundSpecial Law •Capital Projects Fund•FundCapital Improvement •Building Fund•General Fund•Governmental Funds General Fund 4 governmental services.enforcement), public works, parks & recreation, other general Typical services include, public safety (fire, police, code that are not found in the for profit businesses.Accounts for all financial resources and operations of the Village, intergovernmental revenue and charges for services.Funded mainly from property taxes, franchise taxes, utility taxes, The Village’s primary operating fund. General Fund Revenues 5(Budget vs. Actual) FY 2021-22 FY 2021-22 $ Variance % Change Revenue Description(Budget)(Actual)Pos/(Neg)Pos/-Neg Property taxes$ 8,158,070$ 8,260,938$ 102,868 1.26% Other taxes 1,910,660 2,170,197 259,53713.58% Franchise fees 462,000 530,165 68,165 14.75% Grants 1,145,230 479,242 (665,988) -58.15% Intergovernmental 948,395 1,121,434 173,03918.25% Charges for services 1,517,850 1,794,699 276,84918.24% Indirect charges 856,310 856,342 320.00% Rents and royalties 255,190 253,180 (2,010) -0.79% Miscellaneous 78,997 101,279 22,282 28.21% Other Financing Sources 1,959,863 - (1,959,863)-100.00% Total$17,292,565 $15,567,476 (1,725,089)-9.98% General Fund 6 Summary by Department Budget - FY 2021-22 FY 2021-22 $ Variance % Change Department (Budget)(Actual)Pos/(Neg)Pos/-Neg Council$ 77,350$ 68,481$ 8,86911.47% Manager 311,720 310,343 1,377 0.44% Human Resources 385,040 375,361 9,679 2.51% Village Clerk 373,940 331,066 42,87411.47% Finance 710,220 693,756 16,4642.32% Legal 190,000 166,842 23,15812.19% Comprehensive Planning 290,040 288,514 1,526 0.53% General Government 280,310 234,847 45,46316.22% IT 476,650 437,624 39,0268.19% Police Department 3,639,436 3,542,978 96,4582.65% Code Compliance 124,480 108,682 15,79812.69% Fire Control 6,058,759 4,192,186 1,866,57330.81% Public Works 1,546,915 1,389,294 157,62110.19% Leisure Services 976,080 819,771 156,30916.01% Debt Service 886,280 878,058 8,222 0.93% Interfund Transfers 865,825 994,796 (128,971)-14.90% Total$ 17,193,045 $ 14,832,599 $ 2,360,44613.73% General Fund 7$7,431,840Fund Balance: Total $478,534-Time Projects -Available for One$570,000 ($1,865,588 of ARPA for Fire Trucks in line above)-ARPA Funds $2,037,564 –Budget Rolled $2,521,542-Target Reserve (2 Months) $500,000-$591,400-Debt Service Reserve $732,800-spendable -NonComponents of Fund Balance:Fund Balance Calculation- Beginning Balance - 10/01/21$ 6,696,963 Revenues/Other Sources 15,567,476 Expenditures/Other Uses (14,832,599) Change in Fund Balance$ 734,877 Ending Fund Balance - 09/30/2022$ 7,431,840 General Fund 8$7,431,840$6,206,380$3,394,469$3,670,429$3,882,111$4,345,896$4,310,262Total Fund Bal.$478,534$4,356,864$1,884,304$1,479,005$1,150,229$1,478,525$2,079,187Available for AppropriationsFY20 22FY2021FY2020FY2019FY2018FY2017FY2016 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $-Total Fund Bal.Available for Appropriations Fund Balance History- General Fund 9$478,534$478,534 of GF Expenditures(Unaudited): 3.2% Appropriation Available for $2,521,542$2,521,542 Expendituresof GF : 17% TargetFund Balance Disaster Unassigned Fund Balance– Building Fund 10$920,936-9/30/22 Building Fund reserves at $56,004Increase in Building Fund reserves: $706,530Total Building Fund expenditures: $762,534Total Building Fund revenues: $751,857 -FY22 $871,235 -FY21 Building permit fees collected: Codecarrying out responsibilities in enforcing the The revenue obtained shall be used solely for and private buildings, structures and facilities Accounts for permit fees required on all public  Other Governmental Funds 11 Forfeiture Seizures.Funding Source: Asset Enforcement TrustSpecial Law Bonds, & Notes.Funding Source: Transfers, Capital Projects receipts.surtax funds; water utility tax Funding Source: Infrastructure Capital Improvement Capital Improvement 12 Fund 301)–(Surtax Fund Restricted Fund Balance Beginning Balance, as of 10/01/2021 $ 353,291 Revenues/Other Sources 806,333 Expenditures/Other Uses (247,013) Change in Fund Balance 559,320 Ending Balance, as of 09/30/2022$ 912,611 Capital Projects Fund 13( Fund 303) Restricted Fund Balance Beginning Balance, as of 10/01/2021 $ 2,550,094 Revenues/Other Sources 1,087 Expenditures/Other Uses (2,414,804) Change in Fund Balance (2,413,717) Ending Balance, as of 09/30/2022$ 136,377 Special Law Enforcement 14 Trust Fund Restricted Fund Balance Beginning Balance, as of 10/01/2021 $ 143,689 Revenues/Other Sources 94,817 Expenditures/Other Uses (113,274) Change in Fund Balance (18,457) Ending Balance, as of 09/30/2022$ 125,232 Enterprise Funds 1515 maintenance of the Village’s Accounts for the operation and Stormwater Utility Fund garbage and recyclable materials. user fees for collection of residential Accounts for the expenses and related Fund surrounding communities.of potable water to Village residents and which includes processing and distribution Accounts for activities of the water utility, type Activities) -(Business Total Revenue/Expenses 16 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-$5,418,882$5,832,408$5,964,202$5,079,244$4,871,601$5,038,740$4,726,849Expenses$6,72 4,905$6,718,002$6,467,035$6,335,478$5,998,715$5,544,098$4,865,282Revenues(Unaudited)FY2022FY2021FY2020FY2019FY2018FY2017FY2016 Water Utility Fund– Water Utility Fund 17 FY2021 FY2022 $ Change % Change Department(Actual)(Actual)Pos/(Neg)Pos/(Neg) Dept 241 - WATER-ADMINISTRATION$ 1,359,557$ 1,334,625$ (24,932) -1.83% Dept 242 - WATER - PRODUCTION 2,005,063 1,774,132 (230,931) -11.52% Dept 243 - WATER-DISTRIBUTION 801,185 609,093 (192,092) -23.98% Dept 244 - WATER CUSTOMER SERVICE 239,744 270,367 30,62312.77% Dept 411 - RENEWAL & REPLACEMENT 552,236 614,081 61,84511.20% Dept 700 - DEBT SERVICE 131,391 116,584 (14,807)-11.27% Dept 900 - INTERFUND TRANSFERS 21,891 - (21,891)-100.00% Dept 950 - OTHER NONOPERATING 721,341 700,000 (21,341)-2.96% Total$ 5,832,408$ 5,418,882$ (413,526)-7.09% Water Utility Fund Capital) are $1.4 million.Target Reserves of 25%/expenses (less 18 Unrestricted Net Position Beginning Balance, as of 10/01/2021 $ 6,369,296 Revenues/Other Sources 6,724,905 Expenditures/Other Uses (5,418,882) Change in Fund Balance 1,306,023 Ending Balance, as of 09/30/2022$ 7,675,319 Total Revenue/Expenses 19 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000$529,107$511,300$496,619$480,268$479,478$479,278$489,874Expenses$507,465$487,006$488,558$488,807$490,5 95$493,937$490,956Revenues(Unaudited)FY2022FY2021FY2020FY2019FY2018FY2017FY2016 Refuse & Recycling Fund– Refuse & Recycling Fund 20 Unrestricted Net Position Beginning Balance, as of 10/01/2021 $ 94,284 Revenues/Other Sources 507,465 Expenditures/Other Uses (529,107) Change in Fund Balance (21,642) Ending Balance, as of 09/30/2022$ 72,642 Total Revenue/Expenses 21 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-$531,966$524,735$453,776$485,566$687,878$338,758$490,405Expenses$686,653$466,769$440,535$453,568$38 8,222$342,001$326,072Revenues(Unaudited)FY2022FY2021FY2020FY2019FY2018FY2017FY2016 Stormwater Utility Fund– JS1 Slide 21 JS1 Increase in revenues impacted by ARPA Funds transfer Jeffery Snyder, 12/7/2022 Stormwater Utility Fund 22 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $- $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-$531,966$639,007$453,776$485,566$687,878$338,758$490,405Total Expenses$278,925$250,905$101,448$136,412$390,779$34,209$176,659Drainage Maint. Expense(Unaudited)FY2022FY2021FY2020FY2019FY2018FY2017FY2016 Expense Analysis– Stormwater Utility Fund 23 Unrestricted Net Position Beginning Balance, as of 10/01/2021 $ (18,600) Revenues/Other Sources 686,653 Expenditures/Other Uses (531,966) Change in Fund Balance 154,687 Ending Balance, as of 09/30/2022$ 136,087 Purchase Order Rolled into 24 23-FY 2022 General Fund:Amount RolledProject/Activity Fire Department$ 1,865,5882022 Sutphen Pumber G9 Body & Aerial SL75 Fire Trucks Fire Department 6,966 Two Complete Sets of Firefighter Bunker Gear Fire Department 4,795 Two Lifepak 1000 AEDs Fire Department 13,440Four Complete Sets of Firefighter Bunker Gear Public Works 3,196 Sidewalk Addition at 399 Seabrook Public Works 826MidBlock Crosswalk at Community Center Planning Department 15,750Public Design Charrette & Community Vision Master Plan Police Department 46,944Emergency Equipment for Police Vehicles Leisure Services 11,500Foot Traffic Analytics Leisure Services 54,071Remembrance Park Phase 1: Task 1-6 Leisure Services 4,463 Village Marketing Materials Leisure Services 8,000 Parts to Complete the Community Center Totals$ 2,037,564 Purchase Order Rolled into 25 23-FY 2022 Building Fund: Amount RolledProject/Activity Building$ 29,3992022 Vehicle for Building Operations Total$ 29,399 Special Law Enforcement Fund: Police Department$ 14,896Contract for Police Departments Accreditation Police Department 32,578Motorcycle for Police Department Police Department 9,747 Portable Light Tower Total$ 57,221 Purchase Order Rolled into 26 23-FY 2022 Water Fund:Amount RolledProject/Activity Water Utility$ 32,4192022 Ford Escape SE Hybrid Vehicle Water Utility 100,022Well No. 18 Replacement Project Water Utility 28,440WM-5 Countyr Club Dr N. Water Main Replacement Design Water Utility 36,4992022 Ford F-150 Crew Cab Pickup Truck Water Utility 48,135Concentrate Disposal Main Relocate Phase 2 Water Utility 46,196Asbestos Cement Water Main Replacement Project Phase 3 Water Utility 10,896Train #2 Membrane Replacement Study Water Utility 3,825 Engineering Services for Concentrate Disposal Relocation Water Utility 71,587Engineering Services for Water Main Replacement Project Water Utility 31,913Well No. 19 Replacement Project Water Utility 27,417Well No R2, R3, R4 Rehabilitation Water Utility 31,758Beach Road Water Main Replacement Phase II Water Utility 16,840Assistance for Obtaining State Revolving Fund Loans Water Utility 24,490Country Club Drive Water Main Replacement Water Utility 4,948 Water Plant Efficiency and Control Improvements Slide Subtotal$ 515,385 Water Fund Continued on next slide. Purchase Order Rolled into 27 23-FY 2022 Water Fund (continued):Amount RolledProject/Activity Water Utility$ 75,084Water Quality Evaluation & Monitoring Water Utility 1,805 Well Maintenance Project Completion Water Utility 3,075 Concrete Apron Renewal & Replacement at 2 Oak Ridge Lane Water Utility 36,4992022 Ford F-150 Crew Cab Pickup Truck Slide Subtotal 116,463 Preceeding Slide Subtotal 515,385 Grand Total Water Utility$ 631,848 Stormwater Fund: Stormwater 32,347El Portal Stormwater Improvements Stormwater 95,000Vulnerability Assessment and Adaptation Plan Total Stormwater Fund$ 127,347 Questions 28