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					   CITY OF FRISCO
FINANCIAL SERVICES




       Anita Cothran
Director of Financial Services
        October 2009
           AGENDA
• OUR DEPARTMENT

• FINANCIAL REPORTING

• THE CITY’S BUDGET
                                        Nell Lange
                                       Assistant City
                                         Manager



                            Jennifer Hundt
                            Budget Manager




                                       Anita Cothran
                                    Director of Finance



               Kim Sinclair                                   April Spann
                                      Tom Johnston
                Assistant                                 Revenue Collections
                                   Purchasing Manager
             Finance Director                                  Manager



                           Danny Collier
  Tanya Anderson
                        Financial Services
Accounting Manager
                             Manager
  FINANCIAL REPORTING
• MONTHLY COUNCIL REPORTS

• QUARTERLY INVESTMENT REPORTS

• ANNUAL FINANCIAL REPORT

• QUARTERLY AUDIT COMMITTEE
  MEETINGS
• WHERE DOES THE MONEY COME
  FROM?
• WHERE DOES THE MONEY GO?
• FY 2010 BUDGET
      THE CITY’S BUDGET
• The budget is the plan of action detailing
  how the City’s overall goals will be
  achieved.
• Approved budgets provide funds for the
  costs to operate City departments including
  salary and benefits, operations and capital
  outlay.
     THE CITY’S BUDGET
Combined Budget Summary – All Funds
             FY 2010

Total Revenues       $201,942,060
Total Expenses       $201,995,955
Total Capital Outlay $    991,767
      THE GENERAL FUND
• The General Fund is the major operating
  fund of the City. Services funded include:

     General Government
     Public Safety
     Public Works
     Culture & Recreation
     Debt Service for Tax Supported Debt
WHERE THE MONEY COMES
    FROM - FY 2010
    How Much Does the Taxpayer Pay?




                                           Operations $ 763

Average Frisco Home Value $291,330              Debt $ 591
                                     Total Taxes Due: $ 1,354
             SALES TAX
• The City Sales Tax Rate is 8.25%.
Of this amount:

6.25% is retained by the State of Texas
1% is returned to the City’s General Fund
1% is split by the City’s Economic
  Development and Community Development
  Corporations
SALES TAX REVENUE HISTORY
          Total 2%
WHERE DOES THE MONEY GO
        FY 2010
Economy’s Effect on City Operations
             Current Status
• Sales Tax revenue currently running about
  a 5% decrease over last fiscal year
• Frisco remains 17th in the state in total sales
  tax collections
• We monitor this revenue source every
  month, but it is economy driven.
                        Net Payment     Net Payment                2009 Payments    2008 Payments
              City      September 09    September 08   % Change       To Date          To Date       % Change
1    Houston          35,701,446.45    42,319,513.78   -15.63%    375,814,473.48   380,290,042.17   -1.17%
2    Dallas           15,012,681.07    17,763,850.41   -15.48%    157,762,410.74   174,349,984.18   -9.51%
3    San Antonio      15,666,439.65    17,091,781.67   -8.33%     153,873,793.43   162,749,207.15   -5.45%
4    Austin           9,805,952.40     11,560,397.49   -15.17%    99,027,305.67    111,685,429.16   -11.33%
5    Fort Worth       7,121,483.68     8,400,078.18    -15.22%    74,222,000.91    79,040,144.55    -6.09%
6    Arlington        6,422,960.68     6,791,625.02    -5.42%     60,232,935.56    61,660,044.37    -2.31%
7    El Paso          4,865,778.90     5,451,378.01    -10.74%    49,005,447.78    51,675,760.17    -5.16%
8    Round Rock       6,158,133.68     5,506,967.96    11.82%     44,795,033.61    50,204,412.42    -10.77%
9    Corpus Christi   4,396,248.12     5,199,975.45    -15.45%    44,030,958.45    46,510,018.58    -5.33%
10   Amarillo         4,384,429.24     4,776,765.36    -8.21%     43,265,869.63    44,530,378.41    -2.83%
11   Plano            4,291,266.96     5,119,629.70    -16.18%    41,681,396.23    48,367,733.01    -13.82%
12   McAllen          4,024,049.01     4,761,288.41    -15.48%    41,370,482.52    45,132,941.86    -8.33%
13   Lubbock          3,799,166.73     3,862,314.40    -1.63%     37,015,548.51    36,720,953.01    0.80%

14   Irving           3,667,977.43     3,917,905.16    -6.37%     35,713,172.55    37,821,870.21    -5.57%

15   Beaumont         2,565,207.61     3,036,336.83    -15.51%    30,324,031.80    28,860,487.93    5.07%
16   Sugar Land       2,945,279.75     3,791,802.78    -22.32%    29,896,679.14    30,041,242.10    -0.48%
17   Frisco           2,910,104.19     3,183,925.18    -8.60%     28,237,732.79    29,767,817.87    -5.14%
18   Grand Prairie    2,861,705.68     3,064,080.51    -6.60%     26,988,506.93    28,650,940.90    -5.80%
19   Midland          2,400,826.80     3,345,545.88    -28.23%    26,896,395.77    28,756,641.71    -6.46%
20   Tyler            2,538,535.47     2,921,979.56    -13.12%    26,769,558.79    28,387,713.92    -5.70%
            Current Status
• Franchise fees slightly up over prior years
• Interest income and inspection fees down
  for the fiscal year
• Other revenue sources holding steady –
  mainly user fees for Recreation and Public
  Safety
            Current Status
• Building permits down as projected
• Some retail stores have closed
• Commercial values for 2009 tax roll will be
  reviewed early in 2010
     Status of the 2010 Budget
• City had taken a conservative approach to
  the Fiscal Year 2010 budget
• There were only two new positions added
  for Fiscal Year 2010 – one School Resource
  Officer and one Court Clerk
• Operations were kept basically flat in the
  projections
      Status of the 2010 Budget
• FY 2010 revenue shortfall originally
  estimated at $1.9M, with tax increase the
  shortfall is projected at $880,000.
• Building permits flat, anticipated slight
  increase in sales tax collections and interest
  income
• City has taken steps to address the issue and
  continues to evaluate monthly
       Cost Saving Measures
• Requested that all Departments maintain flat
  budgets
  Currently have 17 frozen positions
          Cost Saving Measures
•   Utilization of staff in other areas as needed
•   Delay purchase of some capital
•   Use of fund balance
•   Tax increase 1.5 cents to effective tax rate
•   Rate increases in water and sewer,
    ambulance, and solid waste will be
    proposed in November
        DEBT SERVICE FUND
• For FY 2010, the City does plan to issue
  additional debt for the Parking Facility, less
  than $5,000,000
• We currently have over $600 million in
  outstanding debt with approximately $488
  million in the Governmental Funds, and the
  remainder in the Utility Funds
               CIP FUNDS
• The City has two CIP funds:
  – The Governmental Fund – we issue general
    obligation bonds and the funding is used to
    build roads, facilities and parks
  – The Utility Fund – we issue certificates of
    obligation and the funding is used to improve
    and add to our water and sewer systems
CAPITAL PROJECTS
  FY 2009 - 2010
       ENTERPRISE FUNDS
• The City has three other major funds:
     Water & Sewer Fund
     Environmental Services Fund
     Stormwater Drainage Fund
These funds are operated just as any business,
  we charge fees to cover the costs of goods
  sold or services offered
ENTERPRISE FUND
REVENUES FY 2010
ENTERPRISE FUND
EXPENSES FY 2010
                CITY FINANCIAL
                 INFORMATION

• Our various reports are available on the City
  website

•   http://www.friscotexas.gov/departments/finance/Pages/default.aspx
• QUESTIONS?

• THANKS FOR ATTENDING TONIGHT

				
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