C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 1.

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Presentation transcript:

C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR

A GENDA Purpose & Importance Financial Performance & Highlights ◦Budget to Actual Performance ◦Fund Balance/Net Position and Reserve Requirements Discussion/Questions C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR

P URPOSE & I MPORTANCE C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR

B UDGET TO A CTUAL P ERFORMANCE 4 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 Changed approach for funding OPEB, resulted in variance of +$10.5M Operational savings through lower than budgeted benefits and professional & technical services.

B UDGET TO A CTUAL P ERFORMANCE 5 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015

G ENERAL F UND H IGHLIGHTS 6 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 Revenues were within ½% of the revised budget Only 1 Department had a negative budget performance Fort Worth Trust Fund is now accounted for in the General Fund Significant contribution to fund balance

Current Fund Balance $25.7M F UND B ALANCE & R ESERVE R EQUIREMENTS 7 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 Unassigned Fund Balance Reserves $54.9M $91.5M Current Unassigned Fund Balance $84.3M G ENERAL F UND Fund Balance Reserves $15.1M $22.6M D EBT S ERVICE Fund Balance Reserves $70.0M $114.1M Current Fund Balance Reserve $110M C OMBINED G ENERAL & D EBT

F INANCIAL R ESULTS 8 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015

R ESERVE R EQUIREMENTS 9 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 W ATER & S EWER F UND Cash on Hand $43.0M $173.3M Current Cash on Hand $68.5M Millions Goal $79M Actual $55.7M

F UND B ALANCE & R ESERVE R EQUIREMENTS 10 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 CCPD Fund (Due to policy anomaly – policy revision forthcoming) Environmental Management Fund Culture & Tourism Fund Golf Fund (Plan developed to rectify)

E NTERPRISE F UND R ESERVE R EQUIREMENTS 11 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015 Stormwater Utility Fund Working CapitalCash on Hand Municipal Airports Fund Working CapitalCash on Hand Municipal Parking Fund Working CapitalCash on Hand Solid Waste Fund Working CapitalCash on Hand

DISCUSSION / QUESTIONS 12 C OMPREHENSIVE A NNUAL F INANCIAL R EPORT F ISCAL Y EAR 2015