HomeMy WebLinkAboutPresentation_Regular_12/14/2023 (5)Financial Overview 1 December 14, 2023 23--
Financial Overview 2 2023. 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:23-FY 2022–
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 2022-23 FY 2022-23 $ Variance % Change
Revenue Description(Budget)(Actual)Pos/(Neg)Pos/-Neg
Property taxes$ 9,401,670$ 9,530,215$ 128,545 1.37%
Other taxes 2,048,268 2,365,479 317,21115.49%
Franchise fees 484,710 607,485 122,77525.33%
Grants 189,200 280,852 91,652 48.44%
Intergovernmental 903,855 1,110,601 206,74622.87%
Charges for services 1,597,386 1,620,248 22,862 1.43%
Indirect charges 863,074 863,074 -0.00%
Rents and royalties 264,262 239,518 (24,744)-9.36%
Miscellaneous 556,643 114,520 (442,123) -79.43%
Interest 136,788 458,042 321,254234.86%
Total$16,445,856 $17,190,034 744,1784.53%
General Fund 6 Summary by Department Budget -
FY 2022-23 FY 2022-23 $ Variance % Change
Department
(Budget)(Actual)Pos/(Neg)Pos/-Neg
Council$ 80,832$ 63,630$ 17,20221.28%
Manager 324,325 323,116 1,209 0.37%
Human Resources 414,448 404,178 10,2702.48%
Village Clerk 415,815 382,766 33,0497.95%
Finance 749,922 741,073 8,849 1.18%
Legal 230,000 228,972 1,028 0.45%
Comprehensive Planning 287,315 285,688 1,627 0.57%
General Government 223,565 223,449 1160.05%
IT 573,571 573,091 4800.08%
Police Department 3,573,432 3,568,314 5,118 0.14%
Code Compliance 89,789 68,151 21,63824.10%
Fire Control 6,416,260 5,471,749 944,51114.72%
Public Works 1,612,956 1,521,826 91,1305.65%
Leisure Services 1,165,706 1,092,109 73,5976.31%
Debt Service 591,400 591,361 39 0.01%
Interfund Transfers 1,408,081 1,573,978 (165,897)-11.78%
Total$ 18,157,417 $ 17,113,451 $ 1,043,9665.75%
General Fund 7$8,088,462Fund Balance: Total $1,295,722–Time Projects -Available for One$831,382 –Budget Rolled $4,361,050-Target Reserve (3 Months) $500,000-$288,000-Debt Service Reserve
$812,308-spendable -NonComponents of Fund Balance:Fund Balance Calculation-
Beginning Balance - 10/01/22$ 8,011,879
Revenues/Other Sources 17,190,034
Expenditures/Other Uses (17,113,451)
Change in Fund Balance$ 76,583
Ending Fund Balance - 09/30/2023$ 8,088,462
General Fund 8$8,088,462$7,431,840$6,206,380$3,394,469$3,670,429$3,882,111$4,345,896$4,310,262Total Fund Bal.$1,295,722$478,534$4,356,864$1,884,304$1,479,005$1,150,229$1,478,525$2,079,187Available
for AppropriationsFY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-Total Fund Bal.Available
for Appropriations Fund Balance History-
General Fund 9$1,295,722$1,295,722 of GF Expenditures(Unaudited): 7.4% Appropriation Available for $4,278,363$4,278,363 ExpendituresTarget: 25% of GF Fund Balance Disaster Unassigned
Fund Balance–
Building Fund 10 9/30/23: $1,065,554Building Fund reserves $193,014in Building Fund reserves: Increase $894,553Total Building Fund expenditures: $1,087,567Total Building Fund revenues:
$ 1,053,625 -FY23 $751,857-FY22 $871,235 -FY21 Building permit fees collected: Codecarrying out responsibilities in enforcing the The revenue obtained shall be used solely for
and private buildings, structures and facilities Accounts for permit fees required on all public
Other Governmental Funds 11 Forfeiture Seizures.Funding Source: Asset Enforcement TrustSpecial Law Bonds, & Notes.Funding Source: Transfers, Capital Projects receipts.surtax funds; water
utility tax Funding Source: Infrastructure Capital Improvement
Capital Improvement 12 Fund 301)–(Surtax Fund
Restricted Fund Balance
Beginning Balance, as of 10/01/2022$ 912,611
Revenues/Other Sources 902,333
Expenditures/Other Uses (522,792)
Change in Fund Balance 379,541
Ending Balance, as of 09/30/2023$ 1,292,152
Capital Projects Fund 13( Fund 303)
Restricted Fund Balance
Beginning Balance, as of 10/01/2022$ 136,378
Revenues/Other Sources 295,977
Expenditures/Other Uses (178,000)
Change in Fund Balance 117,977
Ending Balance, as of 09/30/2023$ 254,355
Special Law Enforcement 14 Trust Fund
Restricted Fund Balance
Beginning Balance, as of 10/01/2022$ 133,522
Revenues/Other Sources 274,026
Expenditures/Other Uses (92,152)
Change in Fund Balance 181,874
Ending Balance, as of 09/30/2023$ 315,396
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 $-$5,505,792$5,551,567$5,832,408$5,964,202$5,079,244Expenses$7,545,186$6,726,004$6,71
8,002$6,467,035$6,335,478RevenuesFY2023 (Unaudited)FY2022FY2021FY2020FY2019 Water Utility Fund–
Water Utility Fund 17
FY2022 FY2023 $ Change % Change
Department(Actual)(Unaudited)Pos/(Neg)Pos/(Neg)
Dept 241 - WATER-ADMINISTRATION$ 1,337,091$ 1,299,080$ (38,011) -2.84%
Dept 242 - WATER - PRODUCTION 1,915,366 2,071,746 156,3808.16%
Dept 243 - WATER-DISTRIBUTION 632,041 771,738 139,69722.10%
Dept 244 - WATER CUSTOMER SERVICE 273,606 325,829 52,22319.09%
Dept 411 - RENEWAL & REPLACEMENT 596,040 235,200 (360,840) -60.54%
Dept 700 - DEBT SERVICE 116,584 102,199 (14,385)-12.34%
Dept 950 - OTHER NONOPERATING 680,839 700,000 19,1612.81%
Total$ 5,551,567$ 5,505,792$ (45,775) -0.82%
Water Utility Fund Capital) are $1.4 million.Target Reserves of 25%/expenses (less 18
Unrestricted Net Position
Beginning Balance, as of 10/01/2022 $ 7,234,515
Revenues/Other Sources 6,724,905
Expenditures/Other Uses (5,505,792)
Change in Fund Balance 1,219,113
Ending Balance, as of 09/30/2023$ 8,453,628
Total Revenue/Expenses 19 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000$600,664$529,107$511,300$496,619$480,268Expenses$575,594$507,465$487,006$488,558$488
,807RevenuesFY2022 (Unaudited)FY2022FY2021FY2020FY2019 Refuse & Recycling Fund–
Refuse & Recycling Fund 20
Unrestricted Net Position
Beginning Balance, as of 10/01/2022$ 72,643
Revenues/Other Sources 575,594
Expenditures/Other Uses (600,664)
Change in Fund Balance (25,070)
Ending Balance, as of 09/30/2023$ 47,573
Total Revenue/Expenses 21 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-$530,536$715,004$524,735$453,776$485,566Expenses$1,062,073$686,653$466,769$440,535$453,568RevenuesFY2022
(Unaudited)FY2022FY2021FY2020FY2019 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 $-$530,536$715,005$639,007$453,776$485,566Total Expenses$-$220,708$250,905$101,448$136,412Drainage Maint. ExpenseFY2023 (Unaudited)FY2022FY2021FY2020FY20
19 Expense Analysis–
Stormwater Utility Fund 23
Unrestricted Net Position
Beginning Balance, as of 10/01/2022 $ 74,995
Revenues/Other Sources 1,062,073
Expenditures/Other Uses (959,156)
Change in Fund Balance 102,917
Ending Balance, as of 09/30/2023$ 177,912
Purchase Order Rolled into 24 24-FY 2023
General Fund:Amount RolledProject/Activity
Information Technology$ 7,784Software Alienvaluts
Information Technology 3,260 Laserfiche Support
Information Technology 3,384 Iland Cloud Disaster Recover
Public Works 9,960 Local Mitigration Strategy
Public Works 38,148 A/C Repairs
Public Works 8,361 Landscape Services
Fire Department 735,830 2022 Sutphen Pumper G9 Body Fire Trucks
Fire Department 1,212 Class A Uniforms
General Government 997 Adopt-A-Tree Hickory Hill/Pinehill Trail E.
Comprehensive Planning 13,470 Planning Services
Leisure Services 5,347 Remembrance Park Phase 1: Task 1-6
Leisure Services 3,629 Recreation Center A/C Agreement
Total$ 831,382
Purchase Order Rolled into 25 24-FY 2023
Building FundAmount RolledProject/Activity
Building$ 827Share of IT Security Software
Total$ 827
Capital Improvement Fund
Capital Improvement$ 39,225 Country Club Road
Public Works 484,890 El Portal Road Improvements
Public Works 28,480 El Portal Road CEI Services
Public Works 3,750 El Portal Vegetation Removal
Public Works 1,280 El Portal Improvement Survey Staking
Public Works 38,158 Road Improvemts Country Club Dr., Short Ave, & Golfview Dr.
Fire Department
19,937Chest Compression System
Fire Department 1,377 Traffic Preemption Devices
Total$ 617,097
Purchase Order Rolled into 26 24-FY 2023
Water Fund:Amount RolledProject/Activity
Water Utility$ 56,858Engineering Services - Water Main Replacement.
Water Utility 19,768Well No. 19 Replacement Project
Water Utility 19,595WM-5 Countyr Club Dr N. Water Main Replacement Design
Water Utility 75,084Water Quality Monitoring & Evaluation
Water Utility 26,993Concentrate Disposal Main Relocate Phase 2
Water Utility 36,715Asbestos Cement Water Main Replacement Project Phase 3
Water Utility 10,896Train #2 Membrane Replacement Study
Water Utility 1,430 GIS Consulting Services
Water Utility 4,595 Wells 25, 26,27 & WTP Landscaping
Water Utility 20,306Odor & Corrosion Control Contract
Water Utility 37,565County Line Road Utility Relocations
Water Utility 17,748 Beach Road Water Main Replacement Phase II
Water Utility 43,187Assistance for Obtaining State Revolving Fund Loans
Water Utility 29,855Country Club Drive Water Main Replacement
Water Utility 1,600 Water Plant Efficiency and Control Improvements
Slide Subtotal$ 402,193 Water Fund Continued on next slide.
Purchase Order Rolled into 27 24-FY 2023
Water Fund (continued):Amount RolledProject/Activity
Water Utility 2,070,965Water Main Replacement Project #1, 4, Country Club Dr.
Water Utility 4,500 SCADA System Critical Improvements
Water Utility 39,614WTP Process & Control Improvements
Water Utility 18,406Train No. 1 Membrane Replacement Study
Water Utility 7,521 Share of IT Security Software
Water Utility 34,950Water Service Line Materials Data & Mapping
Water Utility 6,000 PFAS/PFOS Water Quality Review
Water Utility 144,200WM 17, 18, 19, Fire Protection & Master Meter
Water Utility 47,000Bid Docs Pressure Vessel Upgrades
Water Utility 443Bid Docs Water Ground Storage Tanks
Water Utility 76,091Well No. 18 Repacement
Slide Subtotal 2,449,689
Preceeding Slide Subtotal 402,193
Grand Total Water Utility$ 2,851,882
Purchase Order Rolled into 28 24-FY 2023
Stormwater FundAmount RolledProject/Activity
Stormwater$ 66,500 Vulnerabiltiy Assessment & Adaption Plan
Stormwater 241,901 El Portal Stormwater Improvements
Stormwater 5,295 El Portal Stormwater Improvements
Stormwater 19,443 Dover Ditch - Living Shorline Design & Permitting
Total$ 333,139
Special Law Enforcement Fund:
Police Department$ 13,034 Accreditation Services Contract
Total$ 13,034
Questions 29