08.13.20 Budget Work Session - Laserfiche WebLink

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• Social Services funded: $840K (HSAB, CASA, Community Action, HCWC, Family Justice Center, museums) • City sponsored events: $100K (Veterans, Summer Fest, Sights and Sounds) • Capital Lease/Finance $1.7M (fleet, equipment finance) • Capital Outlay $390K Ms. Neel provided the Historical Tax Rate Summary and the FY21 Proposed Tax Rate Bill Impact. The tax rate has been at .6139 since the voters approved the public safety bonds a few years ago. Lowering the property tax rate from 7% to 5% growth over the no new revenue rate of .5930 reduces General Fund revenue by $700K. The total levy will be $38,000,000 with Debt Service % of 30.3% and Operation sat 69.70%. She also presented the general fund summary of revenue and expenses and the fund balance. The proposed tax rate impact to the property owner is $593.00 per $100,000 of property value. The General Fund Summery of Review shows FY19 property tax at $19,500,000, Sales Tax of $37,100,000 and Other Revenue of $24,100,000. In FY 20 property tax at $23,000, 000, Sales Tax of $42,300,000 and Other Revenue of $25,400,000. FY 21 is budgeted at property tax at $25,500, 000, Sales Tax of $39,000,000 and Other Revenue of $26,500,000. General Fund Summary: Expense Operating Expense FY19 FY20 FY21 Personnel $50.2M $52.7M $56.6M Contract Services $7.2M $7.3M $7.8M Materials & Supplies $4.5M $3.5M $4.9M Other $5.8M $5.9M $6.3M Total Operating Exp $67.9M $69.6M $75.7M Non -Recurring Expense FY19 FY20 FY21 Eco Dev / TIRZ $8.9M $16.4M $15.6M Contract Services $7.2M $7.3M $7.8M Capital Outlay & Other $2.8M $2.7M $3.OM Total Non -Recurring Expense $11.8M $19.2M $18.7M General Fund Summary: Fund Balance Summary FY19 FY20 FY21 Revenue $80.8M $90.9M $91.1 M Total Expenditures $79.7M $88.8M $94AM Fund Balance $17.2M $19.3M $16.OM Fund Balance % 25.9% 28.2% 21.4% City of San Marcos