1. FY2016 - 2017 Town Manager Budget Presentation
April 5, 2016

2. Schedule March 8 – Intro, Revenue, Planning, Police
March 22 – Town Manager, Finance, Tourism, IT, Parks, Public Works, Capital Projects Fund
April 5 – Town Manager’s Budget Presentation
May 17 – Budget Public Hearing
June 7 – Budget Adoption

3. Budget Highlights Strategic Plan Tie In Positive Revenue Outlook
Real estate, meals, sales, and BPOL
Compensation Plan
Capital Projects
Economic Development
Quality of Life

4. Budget Basics $9,057,314 General Fund Budget
$4,388,698 Capital Projects Fund Budget
$13,446,012 Proposed Budget
Health Insurance – add $34,144, VRS Rate Drop – Decrease $96,702, Compensation Plan – add $92,000

5. Cuts from Department Head Submittal
Highlighted in Yellow throughout the document
Total Budget (GF & CPF) reduced $662,386
Increased Revenue Estimates $26,000 (BPOL)
Reduced General Fund Budget $31,386
Reduced Capital Funds Transfer by $605,000

6. General Fund Reductions
Increased Retiree Health Premiums to Actual (+9,661)
Estimate to Actual on Insurance Renewal (-$10,547)
Reduced extra attorney fees (-$10,000)
Reduced police fuel (-$7,500)
Delay for one year Parks & Recreation software implementation (-$13,000)

7. Capital Projects Fund Reductions
Railroad Crossing Improvements (-$80,000)
Town Hall Renovation (-$100,000)
Downtown Campus Maintenance (-$75,000)
Ashland Theatre (-$150,000)
Visitor Center ADA Project (-$25,000)
Economic Development Fund (-$225,000)
Added Trolley Line Trail Expense Line (+$50,000)

8. Transfers Department Head Submittal Town Manager Budget
GF Budget - $9,719,700
Transfer to CPF - $1,915,000
Unreserved Fund Balance Transfer - $1,513,102
GF Budget - $9,057,314
Transfer to CPF - $1,310,000
Unreserved Fund Balance Transfer - $824,716

9. Unreserved Fund Balance
FY2016 Estimated Balance - $4,878,541
FY2017 Estimated Balance - $4,053,825
GF Budget level relevant to policy –
$9,057,214 - $1,310,000 = $7,747,214
Fund Balance required by policy FY2017 = $3,500,000
Fund Balance required by policy at next General Fund expenditure interval = $3,750,000.

10. Summary Strategic Plan Implementation Revenue outlook positive
Operating expenditures growing 1-2%
Transfer to Capital Projects growing 15%
Addressing generational capital projects
Continue strategic planning = Strategic Plan, Compensation Plan, 5 Year Financial, Comprehensive Plan Update, etc.