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Adopted 2014-2015 City of Waco Budget

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Adopted 2014-2015 City of Waco Budget ------" City of Waco, Texas Adopted Annual Operating Budget And Capital Improvements Program Fiscal Year October 1, 2014- September 30, 2015 City Council Mayor Malcolm P. Duncan, Jr. Mayor Pro Tern Kyle Deaver, District V Council Member Wilbert Austin, District I Council Member Alice Rodriguez, District II Council MemberJ ohn Kinnaird, District III Council Member Toni Herbert, District N City Manager Dale A. Fisseler, P.E. ******************************************************** Budget Vote: FOR: Duncan, Rodriguez, Austin, Kinnaird, Herbert, Deaver AGAINST: None ******************************************************** FY 2014-2015 FY 2013-2014 Property Tax Rate: $0.776232/$100 Property Tax Rate: $0.776232/$100 Effective Tax Rate: $0.740563/$100 Effective Tax Rate: $0.777283/$100 Effective M/0 Tax Rate: $0.6 12965/$100 Effective M /0 Tax Rate: $0.63 1828/$100 Rollback Tax Rate: $0.803791/$100 Rollback Tax Rate: $0.831681/$100 Debt Rate: $0.129488/$ 100 Debt Rate: $0.13 7041 /$100 ******************************************************** Total debt obligation for City ofWaco secured by property taxes: $114,256,482 ******************************************************** This budget will raise more revenue from property taxes than last year's budget by an amount of $1 ,816, 162, which is a 3.44 percent increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $1,096, 115. • GOVERNMENT F INANCE OFFICERS ASSOCfATION Distinguished Budget Presentation Award PRl ,. rL.Ul'O City of Waco Te ._ a I or the Fi5Cal \ e:sr lkg1nning October I, 2013 The Government Finance Officers Association of the United States and Canada (GFOA) presented an award of Distinguished Presentation to the City of Waco, Texas for its annual budget for the fiscal year beginning October 1, 2013. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan and as a communications device. The award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. Table of Contents Budget M essage Budget Transmittal Letter .. .......... ......................................................................................... ................... ....... 1 Budget Message ................................................. .. ....................................................................... .................. 3 Waco ProfJ.le ............................................................................................................................................................... 17 City of Waco Values & Goals ...................................................................... ............................................ ..... 18 Organization Chart .................... ...................................................................................... :..... ........................ 19 Profile of Waco, Texas ..................................................................................... ........................................ .. ... 20 Budget Overview ........................................................................................................................................................ 2 7 Financial Management Policy Statements ................................................... ................................................. 28 Investment Policy ................................................. ............................................................... .. ....................... 35 Budget Process ............................................................................................................................................ 43 Budget Calendar ............. ........................................................................................................... .. ................. 46 Property Tax Structure .................................................................................................. .......... ...................... 50 Distribution ofC urrent Tax Rate ................................. ................ ................ .................................................. 51 Fund Structure ........................ .............................................. ......... ............... .. .............................................. 52 Departments by Funding Sources .................. .......................... .................................................................... 54 Net Fund Balance Change .............. ................................................... ........................................................... 57 Summary of Estimated Revenues, Expenditures & Changes in Fund Balances - Governmental Funds ...... 58 Summary of Estimated Revenues, Expenditures & Changes in Fund Net Postion Enterprise Funds .... .. .................................................. ....................................................... ............. 61 Internal Service Funds ................................................................................................................... 66 Summary of Estimated Revenues, Expenditures & Changes in Fund Net Position- Total of All Funds ...... 68 Explanation of Revenues .......... ........................................................................... ... ....... ............................... (f) Explanation ofExpenditures ............... ................... ....................................................................................... 77 Revenue Summary ................................................................................... ..................................................... 82 Expenditure Summary ............................................................ .................................. ..................................... 84 Expenditures by Department ................ .. .. ......... ... ................................... .................................. .. ................. 86 General Fund ................................................................................................................................................ 88 Health Fund ......................... ......................................................................................................... ................ 91 Abandoned Motor Vehicles Fund ............... .......................... ............. .. ........................................................ 92 Public Improvement District # ! ..................................................................................................... ............... 93 Street Reconstruction Fund ...... ................ ............................ ................................................. .. .................... 94 Water Fund .......................................................................... ................................................................ ......... 95 Wastewater Fund ..................................................... ..................................................................................... % WMARSS Fund ........................................................................................................................................... 97 Solid Waste Fund .................... .................. ........................................................ ... ........................................ 98 . l Table of Contents Texas Ranger Hall of Fame Fund .. ....................... ................................................. ........................................ 99 Waco Regional Airport Fund ................................................................................. .. .................................... 100 Convention Center and Visitors' Services Fund .......................................................................................... 101 Cameron Park Zoo Fund ....................................... ........ ............................................................................... 102 Cottonwood Creek Golf Course Fund .............................. ............................................................... ............. 103 Waco Transit Fund ................................................. ................................................................................... .. 104 Risk Management Fund ............................................................................................................................... 105 Engineering Fund ................................................................ ... ......................................... ......................... ... 106 Fleet Services Fund .......................................................................... .. .. ....... .. ........ ...................................... 107 Health Insurance Fund ............................................................................ .................................................... 108 Personnel Summary .......................... ..................................................................................................... ...... 109 General Fund ............................................................................................................................................................ 113 City Manager's Office ............................ ... ...........................
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