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Home My WebLink AboutRes 2010-23RESOLUTION NO. 2010-23 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF FOUNTAIN HILLS, ARIZONA, ADOPTING THE TENTATIVE BUDGET AS THE 2010 -2011 FISCAL YEAR BUDGET FOR THE TOWN OF FOUNTAIN HILLS. WHEREAS, in accordance with the provisions of Title 42, Chapter 17, Articles 1 -5, Arizona Revised Statutes, the Mayor and Council of the Town of Fountain Hills (the "Town Council") did, on June 3, 2010, make an estimate of the different amounts required to meet the public expenditures /expenses for the ensuing year, also an estimate of revenues from sources other than direct taxation, and the amount to be raised by taxation upon real and personal property of the Town of Fountain Hills, Arizona; and WHEREAS, in accordance with said chapter of said title, and following due public notice, the Town Council met on June 3, 2010, at which meeting any taxpayer was privileged to appear and be heard in favor of or against any of the proposed expenditures /expenses or tax levies; and WHEREAS, publication has been duly made as required by law, of said estimates together with a notice that the Town Council would meet on June 17, 2010, at the Fountain Hills Town Council Chambers for the purpose of hearing taxpayers and with respect to said estimates or any of the proposed expenditures /expenses or tax levies; and WHEREAS, it appears that the sums to be raised by taxation, as specified therein, do not in the aggregate exceed that amount as computed in ARiz. REv. STAT. § 42- 17051(A). NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE TOWN OF FOUNTAIN HILLS as follows: SECTION 1. The statements and schedules attached hereto as Exhibit A and incorporated herein by reference, are hereby adopted as the budget of the Town of Fountain Hills, Arizona, for the fiscal year July I, 2010 through June 30, 2011, PASSED AND ADOPTED by the Mayor and Council of the Town of Fountain Hills, June 17. 2010. FOR THE TOWN OF FOUNTAIN HILLS: y . Seldom, Mayor REVIEWED BY: Richard Manager 1252189.1 ATTESTED TO: N OWN 1461KA, M101 APPRAVEIAL TO FORM: U Andrew J. McGuire, Town Attorney EXHIBIT A TO RESOLUTION NO. 2010-23 [Budget Statements and Schedules] See following pages. 1252189.1 TOWN OF FOUNTAIN HILLS, ARIZONA Summary Schedule of Estimated Revenues and ExpenditurealExponses Fiscal Year 2010 -11 FUND ADOPTED BUDGETED EXPENDITURES/ EXPENSES 2009 -10` ACTUAL EXPENDITURES/ EXPENSES 2009 -10" FUND BALANCE/ NET ASSETS— July 1 2010•• DIRECT PROPERTY TAX REVENUES 2010 -11 ESTIMATED REVENUES OTHER THAN PROPERTY TAXES 2010 -11 OTHER FINANCING 2010.11 INTERFUND TRANSFERS 2010 -11 TOTAL FINANCIAL RESOURCES AVAILABLE 2010 -11 BUDGETED EXPENDITURES/ EXPENSES 2010.11 SOURCES <USES> IN <OUT> 1. General Fund S 14,521,654 S 14,525,654 S 6,641,532 Primary: S S 12,642,268 S S S S (571.241) S 19,855,041 S 12,642,268 2. Special Revenue Funds 4,461,841 4,461,841 1,702,959 1,040,484 9,109.460 41,309 (6,531,677) S 18,425,889 9,422,913 3. Debt Service Funds Available 3,278,6131 3,278,613 1 773,218 2,680,834 387,000 3,841,052 2,664,003 Less: Designation for Future 4. Debt Retirement S. Total Debt Service Funds 3,278, 613 3 ,278,613 773,218 2,680,834 387,000 3,841.052 2,864,003 6. Capital Projects Funds 12,867,834 12,725,434 12,279.0101 6,607,075 6,451,802 25,337,887 8,697,836 7. Permanent Funds 8. Enterprise Funds Availablo Lass: Designation for Futu» 9. Debt Retirement 10. Told Enterprise Funds 11. Internal Service Funds 398,318 222,807 621,125 12. TOTAL ALL FUNDS S 35,133,943 S 34,991,543 $ 21,795,037 S 1,040,484 S 31,039,637 $ $ S 7,061,609 S (7.102.910)1$ 68,080,993 I S 33,627,020 EXPENDITURE LIMITATION COMPARISON 2009 -10 2010.11 1. Budgeted expenditures/expenses S 35133 043 S 33,627.0= 2. Addlaubtraet: estimated not reconciling items 3. Budgeted expenditures/expensea adjusted for reconciling items 35,133 943 33,627,020 4. Lose: estimated exclusions 9,656,216 /8 143,978 S. Amount subject to the expenditure limitation 25 475 725 11 15,483 041 6. EEC or voter - approved alternative expenditure limitation 25 731 13 20,591,376 • Includes Expenditure/Expense Adjustments Approved in 2007-06 from Schedule E. •` Includes actual amounts as of the date the proposed budget was prepared, adjusted for estimated activity for the remainder of the fiscal year. Amounts In this column represent Fund Balenee/Net Asset amounts except for amounts invested in capital assets, net of related debt, and reservetYrostricted amounts established as offsets to assets presented for informational purposes (i.e., prepaids, inventory, etc.). TOWN OF FOUNTAIN HILLS, ARIZONA Summary of Tax Levy and Tax Rate Information Fiscal Year 2010 -11 Maximum allowable primary property tax levy A.R.S. §42-17051 (A). 2, Amount received from primary property taxation in the fiscal year 2008 -09 in excess of the sum of that year's maximum allowable primary property tax levy. A.R.S. §42-17102(A)(18). 3. Property tax levy amounts A. Primary property taxes B. Secondary property taxes C. Total property tax levy amounts 2009 -10 2010 -11 FISCAL YEAR FISCAL YEAR $ 0 $ 0 $ 0 0 $ 0 $ 0 1,400,000 1,040,484 S 1.400,000 S 4. Property taxes collected' A. Primary property taxes (1) 2009 -10 levy $ 0 0 (2) Prior years' levy 0 0 (3) Total primary property taxes $ 0 0 B. Secondary property taxes (1) 2009 -10 levy $ 1,400,000 1,040,484 (2) Prior years' levy $ 0 0 (3) Total secondary property taxes $ 1,400,000 1,040,484 C. Total property taxes collected $ 1,400,000 1,040,484 5. Property tax rates A. Town tax rate (1) Primary property tax rate 0.0000 0.0000 (2) Secondary property tax rate (estimate) 0.2173 0.1836 (3) Total city/town tax rate 0.217T 0.1836 B. Special assessment district tax rates Secondary property tax rates - As of the date the proposed budget was prepared, the town was operating two (2) special assessment districts for which secondary property taxes are levied. For information pertaining to these special assessment districts and their tax rates, please contact the town. 'Includes actual property taxes collected as of the date the proposed budget was prepared plus estimated property tax collections for the remainder of the fiscal year. TOWN OF FOUNTAIN HILLS, ARIZONA Summary by Fund Type of Revenues Other Than Property Taxes Fiscal Year 2010 -11 ESTIMATED ESTIMATED SOURCES OF REVENUES REVENUES ACTUAL REVENUES REVENUES 2009 -10 2009.10' 2010 -11 GENERAL FUND Local Taxes Local Sales Tax $ 6,628,911 $ 6,628,911 S 6,020,520 Franchise Tax $ 363,731 $ 273,000 S 300,000 Permits Animal License Fees S 39,505 39,505 45,088 Business License Fees $ 122,715 122,715 109,180 Building Permit Fees $ 330,120 150,000 155,140 - Landscape Permit Fees $ 10,400 0 0 Planning & Zoning Fees $ 0 21,058 15,000 Improvement Plan Review Fee $ 21,000 21,000 8,506 Intergovernmental State Sales Tax $ 1,894,032 1,894,032 1,765,065 Fire Insurance Premium Tax S 135,741 135,741 119,452 Shared Income Tax $ 3,163,367 3,163,367 2,384,218 Vehicle License Tax $ 953,455 900,000 850,000 User Fees Parks & Rec User Fees $ 127,687 100,000 158,059 Senior Services Fees $ 110,211 60,000 90,033 Encroachment Fees $ 10,000 15,000 17,000 Variances $ 15,600 8,842 10,000 Fines and forfeittures Court Fines $ 239,292 239,292 255,078 Interest on investments $ Interest on Investments $ 125,000 10,000 10,800 Rentals Community Center Rental Fees $ 168,150 100,000 102,328 Community Center Bar Sales $ 0 0 0 Leases & Rents $ 55,575 118,536 100,464 Miscellaneous $ Miscellaneous $ 181,737 16,158 126,337 Total General Fund $ 14,696,229 $ 14,017,157 S 12,642,268 SPECIAL REVENUE FUNDS Highway User Revenue Fund Highway Users $ 1,480,152 $ 1,480,152 $ 1,315,800 Total Highway User Revenue Fund $ 1,480,152 $ 1,480,152 S 1,315,800 Local Transportation Assistance Fund Local Transportation (LTAF) $ 113,400 $ 113,400 $ 0 Total Local Transportation Assistance Fund $ 113,400 $ 113,400 $ 0 In Lieu Payments $ 2,000 $ 2,000 $ 15,068 Interest $ 4,993 $ 4,993 $ 120 Miscellaneous $ 0 $ 0 $ 7,602 $ 1,600,545 $ 1,600,545 $ 1,338,590 ' Includes actual revenues recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated revenues for the remainder of the fiscal year. Excise Taxes Local Sales Tax Transfer $ 295,859 $ 295,859 $ 270,629 $ 295,859 $ 295,859 $ 270,629 Court Enhancement Fund Court Enhancement Fund S 17,000 S 17,000 S 19,250 S 17,000 S 17,000 S 19,250 Public Art Fund Public Art Fund S 2,000 S 0 S 30,766 $ 2,000 $ 0 $ 30,766 Grants FEMA S 0 S 0 5 0 Construction Grants/Stimulus S 2,318,000 S 2,318,000 S 6,131,802 Community Grants $ 183,998 S 183,998 S 200,000 LTAF II S 40,000 S 36,074 S 0 Miscellaneous Grants S 218,850 S 218,850 S 1,118,423 S 2,760,848 S 2,756,922 S 7,450,225 Total Special Revenue Funds S 4,676,252 S 4,670,326 S 9,109,460 DEBT SERVICE FUNDS General obligation Bonds Secondary Property Tax 1,400,000 S 1,400,000 S 1,040,484 Interest 1,500 1,500 3w- $ 1,401,500 S 1,401,500 S 1,040,784 Revenue Bonds Transfer from HURF Fund S 136,413 $ 136,413 S 0 S 136,413 S 115,843 $ 0 Special District Bqnds Eagle Mountain CFD S 389,100 S 379,000 S 420,500 Cottonwoods Improvement District S 0 S 3,300 $ 0 Cottonwoods Maintenance District S 3,850 S 3,850 S 3,850 Municipal Prop Corp 1,283,178 1,275,277 1,215,700 S 1,676,128 S 1,661,427 $ 1,640,050 Total Debt Service Funds S 3,214,041 S 3.178,770 S 2,680,834 CAPITAL PROJECTS FUNDS Develqpment Fees Law Enforcement Development Fees S 13,767 S 7,675 $ 7,980 Street Department Development Fees S 74,316 S 17,750 $ 48,775 Parks & Recreation Development Fees S 14,664 $ 18,125 $ 7,425 Open Space Development Fees S 9,390 S 7,700 S 4,835 General Government Development Fees S 28,440 S 13,750 $ 16,910 Fire Development Fees S 3,153 $ 1,770 S 1,795 Library/Museum Development Fees S 1,740 S 2,916 $ 875 S 145,470 S 69,686 S 88,595 Capital Prgjects Local Sls Tax Contribution S 510,000 S 0 S 66,678 Capital Projects transfers 2,981,190 2,981,190 3,365,837 Stimulus Funds 2,537,717 2,537,717 3,085,965 Debt Service Proceeds S 4,500,000 $ 0 S 0 10,528,907 S 5,518,907 S 6,518,480 Total Capital Projects Funds S 10,674,377 $ 5,588,593 S 6,607,075 TOTAL ALL FUNDS S 33,260,899 $ 27,454,046 $ 31,039,637 ' Includes actual revenues recognized on the modified accrual or accrual bass as of the date the propose budget was prepared, plus estimated revenues for the remainder of the fiscal year. TOWN OF FOUNTAIN HILLS, ARIZONA Summary by Fund Type of Other Financing SourceakUses> and Interfund Transfers Fiscal Year 2010 -11 OTHER FINANCING INTERFUND TRANSFERS 2010 -11 2010.11 FUND SOURCES <USES> IN <OUT> GENERAL FUND Annual Debt Payment for Community Center $ $ $ $ (387,000) Transfer to Public Art for Maintenance (10,350) Interfund charge for Vehicle Replacement (142,932) Transfer from General Fund for Grant Match (30,959) Total General Fund $ 0 $ 0 $ 0 $ (571,241) HIGHWAY USERS Interfund charge for Vehicle Replacement (79,875) Total Highway Users Funds $ 0 $ 0 $ 0 $ (79,875) DEBT SERVICE FUNDS Annual Debt Payment for Community Center $ $ $ 387,000 $ Total Debt Service Funds $ 0 $ 0 $ 387,000 $ 0 CAPITAL PROJECTS FUNDS Transfer to CIP- Various projects 6,131,802 Transfer to CIP - Downtown Improvements 320,000 Transfer from Debt Service 0 Total Capital Projects Funds $ 0 $ 0 $ 6,451,802 $ 0 SPECIAL REVENUE FUNDS Transfer from General Fund for Maintenance 10,350 Transfer to CIP - Downtown Improvements (320,000) Transfer to CIP - Various projects (6,131,802) Transfer from General Fund for Grant Match 30,959 Total Special Revenue Funds $ 0 $ 0 $ 41,309 S (6,451,802) DEVELOPMENT FEES $ $ $ S Total Enterprise Funds $ 0$ 0$ 0 S 0 INTERNAL SERVICE FUNDS Interfund charge for Vehicle Replacement 142,932 Interfund charge for Vehicle Replacement 79,875 Total Internal Service Funds $ 0 $ 0 $ 222,807 $ 0 TOTAL ALL FUNDS $ 0 $ 0 $ 7,102,918 $ (7,102,918) TOWN OF FOUNTAIN HILLS, ARIZONA Summary by Department of Expenditures/Expenses Within Each Fund Type Fiscal Year 2010 -11 BUDGETED EXPENSE EST ACTUAL EXPENDITURES/ ADJUSTMENTS EXPENDITURES/ EXPENSES APPROVED EXPENSES a FUND/DEPARTMENT 2009.10 2009 -10 2009.10 GENERAL FUND Mayor and Town Council Municipal Court Administration Development Services Community Services Law Enforcement Fire Department Transfers Total General Fund SPECIAL REVENUE FUNDS Highway Users (HURF) ADOT Public ART Court Enhancement Fund Community Grants Miscellaneous Grants Excise Tax Special Revenue CIP Total Special Revenue Funds DEBT SERVICE FUNDS General Obligation Bonds Revenue Bonds Municipal Property Carp (MPC) Cottonwood Improv Dist _Eagle Mountain CFD Total Debt Service Funds DEVELOPMENT FEES Law Enforcement Development Fees Street Department Development Fees Parks & Recreation Development Fees Open Space Development Fees General Government Development Fees Fire Development Fees Library Development Fees Total Development Fees Capital Projects _Contingency Total Capital Projects Funds INTERNAL SERVICE FUNDS Vehicle &Equipment Replacement Vehicle &Equipment Replacement Total Internal Service Funds $ 85,640 $ 397,528 $ 2,964,808 $ 2,440,675 $ 2,726,649 $ 2,844,877 $ 3,065,477 0 $ S S $ $ $ $ $ 14,525,654 $ 0 S 1,433,816 S 0 $ 18,500 $ 50,000 $ 150,000 $ 2,426,850 $ 382,675 0 $ 4,461,841 $ 1,340,364 136,413 1,408,886 3,850 389,100 $ 3,278,613 S $ S $ s 0 $ 0 0 $ 0 $ 0 S $ S $ S 0 0 142,400 0 0 0 0 0 142,400 $ 0 12,291,724 433,710 $ 12,725,434 $ 0 $ 0 $ $ 0 $ 0 0 TOTAL ALL FUNDS $ 35,133,943 $ 0 $ 85,640 $ 397,528 $ 2,964,808 $ 2,440,675 S 2,726,649 S 2,844,877 S 3.065.477 0 $ 14,525,654 S 1,433,816 S 0 S 18,500 S 50,000 $ 150,000 $ 2,426,850 S 382,675 0 $ 4,461,841 $ 1,340,364 $ 136,413 1,408,886 3,850 389,100 $ 3,278,613 BUDGETED EXPENDITURES/ EXPENSES 2010.11 $ 72,427 S 421,291 S 2,468,393 $ 1,557,235 $ 2,320,980 $ 2,759,532 S 3,042,411 0 S 12,642,268 $ 1,287,711 S 0 S 20,350 $ 40,350 S 200,000 $ 1,118,423 $ 584,276 6,171,802 $ 9,422,913 $ 1,030,813 $ 0 1,418,630 3,850 410,710 S 2,864,003 $ 0 1 $ 0 0 142,400 0 0 0 0 0 0 0 0 0 0 0 $ 142,400 $ 0 12,291 ,724 8,609,244 433,710 88,592 $ 12,725,434 S 8,697,836 $ 0 $ $ 0 $ $ 35,133,943 $ 33,627,020 Includes actual expenditures/expenses recognized on the modified accrual or accrual basis as of the date the proposed budget was prepared, plus estimated expenditures/expenses for the remainder of the fiscal year.