In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, the deficit would decline in 2018 and then resume its upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
CBO’s estimate of the deficit for 2017 has increased since January 2017, when the agency issued its previous estimates, because revenues are expected to be lower and mandatory spending is expected to be higher than earlier anticipated. Additionally, the current projection for the cumulative deficit for the 2018–2027 period is about $700 billion more than reported in January.
CBO’s economic forecast—which underlies its budget projections—indicates that under current law, economic growth over the next two years would remain close to the modest rate observed since the end of the recession in 2009. Nevertheless, economic growth would continue to outpace growth in potential (maximum sustainable) GDP and thus continue to reduce the amount of underused resources, or slack, in the economy. The result would be increases in hiring, employment, and wages, along with upward pressure on inflation and interest rates. In the later part of the 10-year projection period, output growth would be constrained by a relatively slow increase in the nation’s supply of labor.
Presentation by Sam Papenfuss, Deputy Assistant Director for CBO’s Budget Analysis Division, at the National Association of State Auditors, Comptrollers and Treasurers annual conference.
Presentation by Jeff Werling, Assistant Director, Macroeconomic Analysis Division, for the REALTOR® University Speaker Series.
In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
CBO regularly publishes economic projections that are consistent with current law—providing a basis for its estimates of federal revenues, outlays, deficits, and debt. A key element in CBO’s projections is its forecast of potential (maximum sustainable) output, which is based mainly on estimates of the potential labor force, the flow of services from the capital stock, and potential total factor productivity in the nonfarm business sector. This presentation describes CBO’s most recent 10-year economic projections and the methods used to produce them. It also describes how economic developments since the financial crisis and the recession of 2007–2009 have led CBO to revise its projections of productivity and growth in potential output and discusses ways in which the agency is working to improve its methods.
Presentation by Robert Shackleton, an analyst in CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 14th Annual Economic Measurement Seminar.
OECD, 10th Meeting of CESEE Senior Budget Officials - Jos Nouwt, NetherlandsOECD Governance
This presentation by Jos Nouwt, Netherlands, was made at the 10th Meeting of CESEE Senior Budget Officials held in Den Haag on 26-27 June 2014. Find more information at http://www.oecd.org/gov/budgeting/10thannualmeetingofseniorbudgetofficialsfromcentraleasternandsoutheasterneuropeanceseecountries.htm
In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, the deficit would decline in 2018 and then resume its upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
CBO’s estimate of the deficit for 2017 has increased since January 2017, when the agency issued its previous estimates, because revenues are expected to be lower and mandatory spending is expected to be higher than earlier anticipated. Additionally, the current projection for the cumulative deficit for the 2018–2027 period is about $700 billion more than reported in January.
CBO’s economic forecast—which underlies its budget projections—indicates that under current law, economic growth over the next two years would remain close to the modest rate observed since the end of the recession in 2009. Nevertheless, economic growth would continue to outpace growth in potential (maximum sustainable) GDP and thus continue to reduce the amount of underused resources, or slack, in the economy. The result would be increases in hiring, employment, and wages, along with upward pressure on inflation and interest rates. In the later part of the 10-year projection period, output growth would be constrained by a relatively slow increase in the nation’s supply of labor.
Presentation by Sam Papenfuss, Deputy Assistant Director for CBO’s Budget Analysis Division, at the National Association of State Auditors, Comptrollers and Treasurers annual conference.
Presentation by Jeff Werling, Assistant Director, Macroeconomic Analysis Division, for the REALTOR® University Speaker Series.
In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
CBO regularly publishes economic projections that are consistent with current law—providing a basis for its estimates of federal revenues, outlays, deficits, and debt. A key element in CBO’s projections is its forecast of potential (maximum sustainable) output, which is based mainly on estimates of the potential labor force, the flow of services from the capital stock, and potential total factor productivity in the nonfarm business sector. This presentation describes CBO’s most recent 10-year economic projections and the methods used to produce them. It also describes how economic developments since the financial crisis and the recession of 2007–2009 have led CBO to revise its projections of productivity and growth in potential output and discusses ways in which the agency is working to improve its methods.
Presentation by Robert Shackleton, an analyst in CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 14th Annual Economic Measurement Seminar.
OECD, 10th Meeting of CESEE Senior Budget Officials - Jos Nouwt, NetherlandsOECD Governance
This presentation by Jos Nouwt, Netherlands, was made at the 10th Meeting of CESEE Senior Budget Officials held in Den Haag on 26-27 June 2014. Find more information at http://www.oecd.org/gov/budgeting/10thannualmeetingofseniorbudgetofficialsfromcentraleasternandsoutheasterneuropeanceseecountries.htm
This presentation discusses the upcoming Federal Budget for the government of Canada. The presentation will look at the following areas:
1. Taxation
2. Program Spending
3. OAS
4. Deficits
5. Debt
6. Structural deficits
7. Raising Taxes
8. What if scenarios
Statement delivered by CDB President, Dr. Wm. Warren Smith reviewing CDB’s financial and operational performance in 2017; detailing how the Bank will support Borrowing Member Countries affected during the 2017 Atlantic Hurricane Season in the reconstruction and recovery effort; and providing recommendations for shaping a more resilient Region. The presentation was delivered at CDB's 2018 Annual News Conference on February 7, 2018 at CDB's Conference Centre, Barbados.
Presentation by Robert Shackleton, an analyst for CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 12th Annual Economic Measurement Seminar.
Presentation on Capitol Hill in a Panel Discussion with Local Leaders, by Sarah Puro, Principal Analyst, Budget Analysis Division, Congressional Budget Office
Presentation by Keith Hall, CBO Director, to the American Academy of Actuaries.
In fiscal year 2016, the federal budget deficit increased, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. In those projections, federal debt held by the public rises to 141 percent of GDP in 2046.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
This presentation highlights government taxation and spending as part of delivery of social programs to Canadians. The presentation with discuss austerity measures, value for money, net debt, gap action and sustainability.
This presentation provides an overview of the Congressional Budget Office’s most recent budget and economic projections, which were published on January 28. In those projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of gross domestic product (GDP) in 2029.
Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases decline sharply in the fourth quarter of the year. Economic growth is projected to slow to an average of 1.7 percent through 2023 and to average 1.8 percent from 2024 to 2029.
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, Robert Arnold, Chief of the Projections Unit in CBO’s Macroeconomic Analysis Division, and Joshua Shakin, Chief of the Revenue Estimating Unit in CBO’s Tax Analysis Division, at a joint seminar with the Congressional Research Service.
Long-term sustainability of public finances - James EBDON, United KingdomOECD Governance
This presentation was made by James EBDON, United Kingdom, at the 10th Annual Meeting of Middle-East and North Africa Senior Budget Officials (MENA-SBO) held in Doha, Qatar, on 6-7 December 2017
Budget Proposal For Miami-Dade County For Fiscal Year 201819I.docxcurwenmichaela
Budget Proposal For Miami-Dade County For Fiscal Year 2018/19
Introduction
This paper reviews the budget proposal for Miami-Dade County for fiscal year 2018/19, the budget process, sources of revenue and expenditure.
Overview And Budget Process.
Miami-Dade County is one of the counties in the USA and contains 13 districts. Miami-Dade County has a population of 2.71M people with a median age of 39.9 and a median household income of $45,935. Between 2015 and 2016 the population of Miami-Dade County grew from 2.69M to 2.71M, a 0.74% increase, and its median household income grew from $43,786 to $45,935, a 4.91% increase. The legislative and the governing body of the county is the Board of commission elected into office by the registered voters in a non-partisan election. One county commissioner is elected from each county for the term of four years each; the county chatter normally sets the salaries for each commissioner. The Commissioners elect a Chairperson, who then appoints the Chairperson, Vice-Chairperson, and members of all committees.
The Miami-Dade County commissioners normally plays a lot of roles which includes; reviews and adopts comprehensive development land use plans for the County, licenses and regulates taxis, transportation network entities, sets policy regarding public transportation systems, regulates utilities, adopts and enforces building codes, establishes zoning controls and establishes policy relating to public health, safety services and facilities, recreational and cultural facilities, housing and social services programs, and other services.
The BCC normally sets the tax rates and approve the county budget every financial year. Each year, the commission sets the property tax millage rates and approves the County’s budget, which determines
The expenditures and revenues are necessary to operate all County services, and enacts the County's strategic plan. The County Commission Board may override a Mayoral veto at its next regularly scheduled meeting by a two-thirds vote of those present. The Miami-Date county citizens do not directly play a role in the budget process, but the BCC normally represents them by making policies and advocate them at all levels of government. The Miami-Dade FY 2018/2019 annual budget began on 1st August 2018 and ended 30th June 2019. The budget process takes place in several stages which are a formulation, approval implementation, and audit. Documents essential to the budget process include the budget circular, the budget review, outlook paper, the county fiscal strategy paper, and the county budget estimates. The county has a budget performance analysis which is conducted by each department of the county, and it’s done through the analysis of the outcomes and results. The budget does not include the forecast for future years or prior years. The budget document gives detailed information on sources of revenue and expenditures. The budget report posted in the county’s websites gives inform.
This presentation discusses the upcoming Federal Budget for the government of Canada. The presentation will look at the following areas:
1. Taxation
2. Program Spending
3. OAS
4. Deficits
5. Debt
6. Structural deficits
7. Raising Taxes
8. What if scenarios
Statement delivered by CDB President, Dr. Wm. Warren Smith reviewing CDB’s financial and operational performance in 2017; detailing how the Bank will support Borrowing Member Countries affected during the 2017 Atlantic Hurricane Season in the reconstruction and recovery effort; and providing recommendations for shaping a more resilient Region. The presentation was delivered at CDB's 2018 Annual News Conference on February 7, 2018 at CDB's Conference Centre, Barbados.
Presentation by Robert Shackleton, an analyst for CBO’s Macroeconomic Analysis Division, at the NABE Foundation's 12th Annual Economic Measurement Seminar.
Presentation on Capitol Hill in a Panel Discussion with Local Leaders, by Sarah Puro, Principal Analyst, Budget Analysis Division, Congressional Budget Office
Presentation by Keith Hall, CBO Director, to the American Academy of Actuaries.
In fiscal year 2016, the federal budget deficit increased, in relation to the size of the economy, for the first time since 2009, according to the Congressional Budget Office’s estimates. If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
To analyze the state of the budget in the long term, CBO has extrapolated its 10-year baseline projections an additional two decades. If current laws governing taxes and spending remain in place, the outlook for the budget would steadily worsen over the long term, with revenues falling well short of spending. In those projections, federal debt held by the public rises to 141 percent of GDP in 2046.
To put the federal budget on a sustainable path for the long term, lawmakers would have to make major changes to tax policies, spending policies, or both – by reducing spending for large benefit programs below the projected amounts, letting revenues rise more than they would under current law, or adopting some combination of those approaches. The size of such changes would depend on the amount of federal debt that lawmakers considered appropriate.
This presentation highlights government taxation and spending as part of delivery of social programs to Canadians. The presentation with discuss austerity measures, value for money, net debt, gap action and sustainability.
This presentation provides an overview of the Congressional Budget Office’s most recent budget and economic projections, which were published on January 28. In those projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of gross domestic product (GDP) in 2029.
Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases decline sharply in the fourth quarter of the year. Economic growth is projected to slow to an average of 1.7 percent through 2023 and to average 1.8 percent from 2024 to 2029.
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, Robert Arnold, Chief of the Projections Unit in CBO’s Macroeconomic Analysis Division, and Joshua Shakin, Chief of the Revenue Estimating Unit in CBO’s Tax Analysis Division, at a joint seminar with the Congressional Research Service.
Long-term sustainability of public finances - James EBDON, United KingdomOECD Governance
This presentation was made by James EBDON, United Kingdom, at the 10th Annual Meeting of Middle-East and North Africa Senior Budget Officials (MENA-SBO) held in Doha, Qatar, on 6-7 December 2017
Budget Proposal For Miami-Dade County For Fiscal Year 201819I.docxcurwenmichaela
Budget Proposal For Miami-Dade County For Fiscal Year 2018/19
Introduction
This paper reviews the budget proposal for Miami-Dade County for fiscal year 2018/19, the budget process, sources of revenue and expenditure.
Overview And Budget Process.
Miami-Dade County is one of the counties in the USA and contains 13 districts. Miami-Dade County has a population of 2.71M people with a median age of 39.9 and a median household income of $45,935. Between 2015 and 2016 the population of Miami-Dade County grew from 2.69M to 2.71M, a 0.74% increase, and its median household income grew from $43,786 to $45,935, a 4.91% increase. The legislative and the governing body of the county is the Board of commission elected into office by the registered voters in a non-partisan election. One county commissioner is elected from each county for the term of four years each; the county chatter normally sets the salaries for each commissioner. The Commissioners elect a Chairperson, who then appoints the Chairperson, Vice-Chairperson, and members of all committees.
The Miami-Dade County commissioners normally plays a lot of roles which includes; reviews and adopts comprehensive development land use plans for the County, licenses and regulates taxis, transportation network entities, sets policy regarding public transportation systems, regulates utilities, adopts and enforces building codes, establishes zoning controls and establishes policy relating to public health, safety services and facilities, recreational and cultural facilities, housing and social services programs, and other services.
The BCC normally sets the tax rates and approve the county budget every financial year. Each year, the commission sets the property tax millage rates and approves the County’s budget, which determines
The expenditures and revenues are necessary to operate all County services, and enacts the County's strategic plan. The County Commission Board may override a Mayoral veto at its next regularly scheduled meeting by a two-thirds vote of those present. The Miami-Date county citizens do not directly play a role in the budget process, but the BCC normally represents them by making policies and advocate them at all levels of government. The Miami-Dade FY 2018/2019 annual budget began on 1st August 2018 and ended 30th June 2019. The budget process takes place in several stages which are a formulation, approval implementation, and audit. Documents essential to the budget process include the budget circular, the budget review, outlook paper, the county fiscal strategy paper, and the county budget estimates. The county has a budget performance analysis which is conducted by each department of the county, and it’s done through the analysis of the outcomes and results. The budget does not include the forecast for future years or prior years. The budget document gives detailed information on sources of revenue and expenditures. The budget report posted in the county’s websites gives inform.
San Joaquin Delta
Community College District
Office of Fiscal Services
5151 Pacific Avenue
Stockton, CA 95207
TO: Board of Trustees
Jeff Marsee Ph.D, Superintendent/President
District Leadership
FROM: Michael Hill, Administrative Consultant
Raquel Puentes-Griffith, Controller
SUBJECT: 2011-12 Adoption Budget
The budget development process has been much smoother this year than last. As you will see from the
presentation materials the changes from tentative to adoption are smaller in number and less dramatic
than 2010-2011. This is a more typical pattern for the unrestricted general fund portion of the budget.
The heavy lifting is normally done in preparation for the tentative budget. We do place added emphasis
on the restricted funds moving from the tentative to adoption budgets.
For the restricted funds there are no major surprises and with the effort made during this last year by the
fiscal services staff and program managers the restricted funds budgets are cleaner and reflect more
clearly the true status of programs.
Regarding the unrestricted general fund we are pleased to report that there is some revenue improvement
as a result of the state budget that was adopted but at the same time our estimate of the beginning fund
balance turned out to be higher than the actual results. We will expand on these points in this
memorandum.
We also want to provide you with a sense of what the current circumstance means for the 2012-2013
fiscal year. It has been the district strategy to approach the state funding loss in a multi-year plan and the
2011-12 budget represents the first year of the plan.
State Budget
The state budget had to confront a shortfall of $26 billion. About $13 billion was addressed back in
March through reduced funding of programs, the community colleges included. This became the best
case scenario in the evaluative process. Facing more cuts to close the gap for the remaining $13 billion,
extending taxes or a combination of both, the legislature and governor could not reach agreement on how
to proceed. The process bogged down in the usual political way.
The “May Revise” is that point where the state measures revenue flows and makes adjustments to the
revenue estimates for the next year. When that measurement occurred it was determined that the revenue
estimates could be increased which covered a portion of the $13 billion gap. In the final days of June to
get the budget out the door the revenue estimates were increased further but because there was a sense the
numbers were soft and unlikely to materialize, triggers were incorporated which would impose mid-year
cuts. The trigger date for making the determination is December 15, 2011. The triggers are as follows:
Tier 0
If between $3 and $4 billion of the new revenue materializes, no ad.
San Joaquin Delta
Community College District
Office of Fiscal Services
5151 Pacific Avenue
Stockton, CA 95207
TO: Board of Trustees
Jeff Marsee Ph.D, Superintendent/President
District Leadership
FROM: Michael Hill, Administrative Consultant
Raquel Puentes-Griffith, Controller
SUBJECT: 2011-12 Adoption Budget
The budget development process has been much smoother this year than last. As you will see from the
presentation materials the changes from tentative to adoption are smaller in number and less dramatic
than 2010-2011. This is a more typical pattern for the unrestricted general fund portion of the budget.
The heavy lifting is normally done in preparation for the tentative budget. We do place added emphasis
on the restricted funds moving from the tentative to adoption budgets.
For the restricted funds there are no major surprises and with the effort made during this last year by the
fiscal services staff and program managers the restricted funds budgets are cleaner and reflect more
clearly the true status of programs.
Regarding the unrestricted general fund we are pleased to report that there is some revenue improvement
as a result of the state budget that was adopted but at the same time our estimate of the beginning fund
balance turned out to be higher than the actual results. We will expand on these points in this
memorandum.
We also want to provide you with a sense of what the current circumstance means for the 2012-2013
fiscal year. It has been the district strategy to approach the state funding loss in a multi-year plan and the
2011-12 budget represents the first year of the plan.
State Budget
The state budget had to confront a shortfall of $26 billion. About $13 billion was addressed back in
March through reduced funding of programs, the community colleges included. This became the best
case scenario in the evaluative process. Facing more cuts to close the gap for the remaining $13 billion,
extending taxes or a combination of both, the legislature and governor could not reach agreement on how
to proceed. The process bogged down in the usual political way.
The “May Revise” is that point where the state measures revenue flows and makes adjustments to the
revenue estimates for the next year. When that measurement occurred it was determined that the revenue
estimates could be increased which covered a portion of the $13 billion gap. In the final days of June to
get the budget out the door the revenue estimates were increased further but because there was a sense the
numbers were soft and unlikely to materialize, triggers were incorporated which would impose mid-year
cuts. The trigger date for making the determination is December 15, 2011. The triggers are as follows:
Tier 0
If between $3 and $4 billion of the new revenue materializes, no ad ...
PPT presented in Training of Trainers Workshops on Strengthening The Financial Foundation of Local Government Based on Local Government Financial Management Series of UN-HABITAT during June 4- 15 2007 - Nadi, Fiji
This is the CCFC's Analysis of Franklin County's current budget. It has been prepared and shared with the County Commissioners with an email request that the Commissioners reduce their budget by 3%.
This budget presentation was delivered at the December 18th Regular Meeting and passed unanimously. This SlideShare highlights the overall objectives that the Village hopes to achieve this year with this budget in place.
This presentation was made by Clarito MAGSINO, Philippines, at the 13th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 14-15 December 2017
This presentation was made by Mutita Somana, Thailand, at the 14th OECD-Asian Senior Budget Officials Meeting held in Bangkok, Thailand, on 13-14 December 2018
Spring 2015 Economic Update: Ups & Downs in AmericaPublicFinanceTV
"Spring 2015 Economic Update: Ups & Downs in America," presented by Kenneth Hutner, webinar of the American Society for Public Administration, hosted May 5, 2015.
ASPA Webinar: Challenges and Opportunities in State & Local BudgetingPublicFinanceTV
Slides for "Challenges and Opportunities in State & Local Budgeting" webainar, presented December 9, 2014, by Association for Budgeting & Financial Management and American Society for Public Administration
Bridging the Gap between Politics & Administration (John Nalbandian)PublicFinanceTV
Slides for "Bridging the Gap between Politics & Administration" workshop by John Nalbandian. Presented at Winter 2014 NCLGBA Conference on December 10, 2014.
Catawba County Sales Tax Referendum PresentationPublicFinanceTV
Presentation on adoption of sales tax referendum in Catawba County, presented by Jennifer Mace during Winter 2014 NCLGBA Conference on December 11, 2014.
Presentation slides for "Revenue Resilience in a Changing Industry: Water & Sewer Utility Needs," presented by Mary Tiger at Winter 2014 NCLGBA Conference on December 11, 2014.
2. Before the Multi-Year Financial Plan
Budget ordinance and CIP prepared on a typewriter
(late ’90s!).
Built forecast from scratch at beginning of budget
season.
Spending down fund balance and retained earnings.
18 months from bankruptcy in both funds!
Proposed budget:
7-cent tax rate increase
23.5% water and sewer rate increase
3. Why a Multi-Year Financial Plan?
Get out of the weeds! More information to process which
forces everyone to focus on the big picture.
Year 1 – 60%
Year 2 – 20%
Year 3 – 20%
Few surprises because the Board has seen and talked about
it for 3 years.
Moves focus beyond just the current fiscal year. Want to
know how this year’s decisions will impact years 2 and 3.
Cuts/deferments are easier on staff. They don’t just
disappear, they can still see them in the plan.
Plan for how to address needs in the short-term, but also plan for when
item/position comes online.
4.
5.
6.
7. Extended Budget Season
FY13’s budget didn’t look good:
Declining/flat revenues
Nothing left to defer
Operational expenses already cut to the bone
10% of General Fund staff eliminated in FY12
Started budget process 3 months early. Presented
“workbook” to Board in early February rather than May.
More time to work on the most pivotal issues.
8. Capital Improvement Plan
10-year plan.
Capital projects/items >$100K.
Includes both capital and operational cost estimates.
9.
10. Wastewater Treatment Plant
Upgrade
$19.2M WWTP upgrade currently under construction.
$1.46M annual debt service payments, increasing WWTP’s
budget by 2.4 times in FY15.
Need equivalent of 2,736 new homes using 4,500 gpm
for debt payments to have no impact customers.
Phase I of UNC Hospital = 233 homes
Full build out = 1,346
Efland-Cheeks sewer system disconnecting from
Hillsborough in FY15 – 7.5% reduction in revenue.
11. WWTP (continued)
Rate Increase Options:
Massive rate increase in FY15 to cover lost revenue and
debt service payment (>50%)?
Series of smaller rate increases?
8.8% annual rate increases from FY12-18.
Reserve revenues from rate increases to use in early years
of debt repayment to cover the difference until rates are
sufficient.
Any growth in total water usage likely to be
counteracted by customer conservation due to
increasing rates.
12. Water System Enhancements
FY13 – 5% water rate increase, with no increases
projected for FY14 & FY15.
FY16-18 – water rate increases anticipated to fund:
Construction of phase II of the reservoir.
Expansion of Water Treatment Plant.
13. Fiscal Radar
Annual budget gives little advance notice of problems
looming on the horizon.
Multi-year plant helps avoid surprises.
Encourages you to look forward and identify, address
and mitigate potential problems while they are still
manageable.
See how today’s decisions impact the financial condition
of the Town in the future.