Presented by Karen Montgomery Assistant City Manager March 3, 2009 City of Fort Worth FY 2009 Budget Re-Estimates Through December 31, 2008 Presented by Karen Montgomery Assistant City Manager March 3, 2009

Purpose of Presentation Review Re-estimate memo and report Provide estimate of year end results through December 31st Identify next steps

Overview FY 2009 Budget Re-Estimate Report Through December 31, 2008 Abbreviated Report Primary focus on General Fund Actual/anticipated Revenues to Budgeted Revenues Actual/anticipated Expenditures to Budgeted Expenditures Overview of Enterprise Funds Internal Service Funds

General Fund Re-Estimates Through December 31, 2008 Budget on target; 10% Reserve Intact; No mid year course correction needed Revenues: overall down about $1.3 million Property tax revenues – down due to slower receipts Sales taxes – no change (budget already anticipated decline) Earnings – down due to lower yield on investments Service Charges - down due to decrease in building permits Transfers in – up due to transferring excess insurance fund balances Expenditures: overall down about $1.9 million – will offset the slight revenue shortfall Departments are managing vacancies (salary savings) Some Departments had savings due to fewer vacation sell back payments Only 4 Departments over budget – some due to being fully staffed (no salary savings); will monitor throughout the year

City of Fort Worth FY 2009 Budget Re-Estimates General Fund Revenues Revenues: overall down about $1.3 million Property tax revenues – down due to slower receipts Sales taxes – no change (budget already anticipated decline) Interest earnings – down due to lower interest rates (3.88% vs 2.66%) Transfers in – up due to transferring excess fund balances

City of Fort Worth FY 2009 Budget Re-Estimates General Fund Expenditures Expenditures: overall down about $1.9 million – will offset the slight revenue shortfall Departments are managing vacancies which will create salary savings Some Departments had savings due to fewer vacation sell back selections Only 4 Departments over budget – some due to being fully staffed (no salary savings); will monitor throughout the year

Enterprise Funds Water and Sewer Municipal Airports Solid Waste Stormwater Utility Municipal Parking Municipal Golf Culture and Tourism

Internal Service Funds Equipment Services IT Solutions Engineering Office Services Temporary Labor

Next Steps March 5th Economic Forum - 5 Year Forecast Revenues/Expenditures updated for 1 more month More revenue declines but savings increase as well FY 2009 budget on target; 10% reserve intact March 19th Re-estimate Report – January 2009 March 24th Presentation of January Report April 16th Re-estimate Report – February 2009 April 21st Presentation of February Report Third Thursday of each month - Report distributed Fourth Tuesday of each month - Presentation of Report

City of Fort Worth FY 2009 Budget Re-Estimates Questions?