FY2016-17 Budget Final

CITY OF DESOTO, TEXAS EXPLANATION OF MAJOR CHANGES IN FUND BALANCE (Major Funds and Those with Fund Balance Changes of 8% or More) Beginning Fund Balance versus Projected Fund Balance - FY 2017 GENERAL FUND

General Fund Fund 101

At the beginning of Fiscal Year (FY) 2017, the City of DeSoto has a General Fund (GF) fund balance (FB) of $14,340,697. The General Fund will end the FY 2017 year with a projected FB of $12,541,980, which is a decrease of 12.5% throughout the year. This change in FB is attributed to an increase in Property Taxes and Sales Taxes revenue, a slight increase in Fines and Forfeitures revenue, an increase in salary costs due to an across-the-board 1% salary increase for City employees, an increase in health insurance costs, new positions (full-time Buyer/Purchasing Technician, full-time Construction Inspector, full-time Parks & Recreation Maintenance Worker, two full-time Police Officers, full-time Firefighter/Paramedic, part-time Library Assistant reclassified as full-time, full-time Director of Information Technology, and part-time Help Desk Technician reclassified to full- time) added in order to maintain and enhance services to the public, a transfer of $1,000,000 into Fund 486 to fund pay-as-you-go capital projects, and an annual transfer into the Stabilization Fund, which is intended to address significant unanticipated expenditures that would otherwise negatively affect the General Fund. The aforesaid FY ending FB is a reflection of operational expenses as well as one-time appropriations. Cataloged below is a representation of such one-time appropriations, which are allocated from Use of Fund Balance (101-098-001): • $ 110,000 Capital Outlay – Screening Wall Along Pleasant Run Road • $ 500,000 Transfer to Fund 412 for ERP Software • $1,000,000 Transfer to Fund 486 – Pay-As-You-Go CIP Projects • $ 250,000 Transfer to Fund 108 – Stabilization Fund Public, Educational, & Governmental (PEG) Fund Fund 102 This fund was created in FY 2013 in order to verify and track cable franchise fee revenue and expenditures related to video programming and media communications. There are strict guidelines regarding use of this funding, and it can only be utilized for capital equipment related to cable television broadcasting. This fund will begin FY 2017 with a fund balance of $512,906 and will end the year with a projected balance of $633,206. This represents an increase of 23.5% throughout the year. This fund continues to carry a fund balance until eligible expenditures are identified and planned. • • $ 16,000 Summer Intern Program $ 5,000 Citizens Emergency Response Team Grant

Made with FlippingBook - Online Brochure Maker