HomeMy WebLinkAboutHandouts_Workshop_12/14/2006Michael Couzzo
From: JoAnn Forsythe [jorsythe@tequesta.org]
Sent: Thursday, December 07, 2006 10:16 AM
To: Michael Couzzo
Cc: Patrice Monaco; Michelle Gload
Subject: 10-Year Projection of Combined Fund Balance -Governmental Funds
Importance: High
J~
10-Year Projection
of Fund Bal...
To: Michael Couzzo, Village Manager
From: JoAnn Forsythe, Finance Director
Re: 10-Year Projection of Combined Fund Balance - Governmental Funds
I have attached a 10-Year schedule of projected Fund Balances for Funds 001,
301 and 303. You might notice that the IBR Fund #101 is not separately accounted for in
this schedule. That is because the Bond which is the underlying reason for having the
revenues segregated in this fund will end in f/y/e 9/30/2009. The net revenues (prior to
2009) are included as transfers into the General Fund #001. After 2009, the gross
revenues are included as revenues in the General Fund. So, although the fund is not
separately shown in the schedule the revenues and expenditures are part of this projection
of Fund Balances.
The first column of the 10-year projection was based soley on the current budget as of
12/06/2006. The projections were based on the assumptions A,B,C & D as detailed at the
bottom of the page.
JoAnn R. Forsythe, CPA
Finance Director
Village of Tequesta
JoAnn R. Forsythe, CPA
Finance Director
Village of Tequesta
1
VILLAGE OF TEQUESTA
10 YEAR PROJECTION OF COMBINED FUND BALANCE
GOVERNMENTAL FUNDS (#001, #301, #303)
For Fiscal Years Ending September 30,
Revised 12/08/06
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Beg. Fund Balance
Fund #001 $ 3,361,483
Fund #301 139,019
Fund #303 1,191,341
Combined Beg. Fund Bal. $ 4,691,843 $ 3,901,647 $ 3,206,992 $ 2,731,210 $ 2,662,755 $ 2,625,867 $ 3,621,709 $ 4,651,493 $ 5,716,481 $ 5,817,989
Add Revenues: (see A below)
Revenues-Fund #001 $ 9,548,054 $ 9,739,453 $ 10,224,335 $ 10,735,324 $ 11,273,900 $ 11,841,623 $ 12,440,148 $ 13,071,226 $ 13,736,709 $ 14,438,556
Revenues-Fund #301 $ -
Revenues-Fund #303 $ 112,500
Total Proj- Revenues $ 9,660,554 $ 9,739,453 $ 10,224,335 $ 10,735,324 $ 11,273,900 $ 11,841,623 $ 12,440,148 $ 13,071,226 $ 13,736,709 $ 14,438,556
Less Expenditures (see B below)
Proj Op Exp -Fund #001 (8,435,900) (8,867,728) (9,323,237) (9,803,779) (10,310,788) (10,845,781) (11 410 364) (12 006,238) (12 635 201) (13 299 159)
Total Proj. Expenditures $ (8,435,900) $ (8,867,728) $ (9,323,237) $ (9,803,779) $ (10,310,788) $ (10,845,781) $ (11,410,364) $ (12,006,238) $ (12,635,201) $ (13,299,159)
Less: Debt Serv. (see D below) $ (528,310) $ 549,442 $ 571,420 $ 594,277 $ 618,048 $ 642,770 $ 668,481 $ 695,220 $ 723,029 $ 751,950
Less: Contingency $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970) $ (167,970)
Fund Balance
Prior to Capital Outlay $ 5,220,217 $ 4,605,402 $ 3,940,120 $ 3,662,755 $ 3,625,867 $ 3,621,709 $ 4,651 493 $ 5,716 481 $ 6 817 989 $ 6 957,386
Capital Outlay
Capital Outlay-Fund #001 (197,360) (183,410) (123,910) insufficient data ins ufficient data No data avail No data avail No data avail No data avail No data avail
Capital Outlay-Fund #301 (36,000) (70,000) (70,000) insufficient data insufficient data No data avail No data avail No data avail No data avail No data avail
Capital Outlay-Fund #303 (1,085,210) (1,145,000) (1,015,000) insufficient data insufficient data No data avail No data avail No data avail No data avail No data avail
Total Proj Capital Outlay $ (1,318,570) $ (1,398,410) $ (1,208,910) $ (1,000,000) $ (1,000,000) $ (1,000,000) $ (1,000,000) $ (1,000000) $ (1000000) $ (1000000)
COMBINED END FUND BAL S 3,901,647 S 3,206,992 $ 2,731,210 S 2,662,755 $ 2,625,867 S 3,621,709 $ 4,651,493 $ 5,718,481 $ 5,817,989 $ 5,957,386
Assumptions "A" -REVENUES
1) Ad valorem increase 6% per year
2) Other revenues increase 3% per year
3) Not included - Interfund transfers IN Between 001, 301 &303
Assumptions "B" -EXPENDITURES
1) Personnel Expenses increase 6% per year
21 Other expenditures increase 3% per year
3) Nof included - Interfund transfers OUT between 001, 301 8303
Assumptions "C" -CAPITAL OUTLAY
1) Capital will be purchase with existing Cash 8 Investments
Note: Financing would distribute the cost of capital over multiple periods.
Assumptions "D" -DEBT SERVICE
4) Debt service increases 4% year
Note: Project that similar equipment would be purchased by lease and that
equipment costs would increase 4 % per year.
F:/BUDGET 2006-2007/10-Year Projection of Fund Balance 2007-2016/Fund Balance -Overview 12/8/2006
VILLAGE OF TEQUESTA
10 YEAR PROJECTION OF COMBINED FUND BALANCE
GOVERNMENTAL FUNDS (#001, #301, #303)
For Fiscal Years Ending September 30,
$6,500,000
$6,000,000 - - -
$5,500,000 - -
$5,000,000 - - - - - --
$4,500,000 ~ - -
$4,000,000 ~
$3,500,000 - -------
$3,000,000 - - ----
$2,500,000 -- - -- - - --
$2,000,000 -
$1, 500, 000 --- -- - ---
$1,000,000 - ---- --
$500,000 -
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016