August 2, 2016 at 8:00 AM - Finance Committee
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1. Roll Call
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2. Review of General Fund Budget and Projected Balance
Rationale:
Attachment 1/15-16 General Fund Balance: The general fund current balance is attached which allows us to predict end of year approximation. The final page has the categorical summaries. Notable changes throughout are highlighted and explained. Attachment 2/Final Detailed Budget 16-17: The detailed budget is attached. Attachment 3/General Fund Changes highlighting personnel. Attachment 4/Spreadsheet that details the personnel increases from last year to this year. Supports attachment 3.
Goals:
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3. Review of Bond Fund, QCPUF, Depreciation, Special Building Fund
Rationale:
These funds are captured in the designated 'red' tabs at the bottom of the spreadsheet attached in this agenda item. Projected valuation of 690,000,000 which could change. I based this on a general fund levy of 95 cents to maintain the $90,000 we get in income tax rebate which we will lose the next fiscal year if we drop below 95 cents. I eliminated special building fund to shave some cents off of the overall levy. On the 'levy comparison' tab you can see that we are increasing our actual tax asking:
Goals:
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4. Review of Summative Needs List inclusive of HVAC
Rationale:
The spreadsheet 16-17 Budget Categories Expanded has an updated Summative Needs Page. Summary of HVAC Project: Expenses: Getzschman - $3,045,411 AES - $281,200 OPPD - $19,020 TOTAL: $3,345,631 REVENUES: Construction Fund through QCPUF - $2,600,750 (realized after fees) Other Necessary - $744,881 ($400,000 Special Building Fund, $350,000 Depreciation)
Goals:
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