5-2017 CM Proposed Allfunds.xlsx

Transcription

TOWN OF ADDISON
CITY MANAGER PROPOSED
FY2017 ANNUAL BUDGET
Filed with the City Secretary
July 29, 2016
This budget will raise more revenue from property
taxes than last year's budget by an amount of
$895,945, which is a 3.83 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
$147,392.
The above statement is required by Section 102.005(b), Loc. Gov. Code.
TOWN OF ADDISON
CITY MANAGER PROPOSED BUDGET
FOR FY2017
TABLE OF CONTENTS
City Manager Transmittal Letter
Pages 1-8
Summary
Pages 9-11
All Funds Summary Statement
Exhibit A
Property Tax Distribution Calculations
Exhibit B
Budgeted Departmental Staffing Summary
Exhibit C
General Fund Schedule of Revenues by Source
Exhibit D-1
General Fund Statement
Exhibit D-2
Hotel Special Revenue Fund Statement
Exhibit D-3
Other Special Revenue Fund Statements
Exhibits D-4 to D-11
General Obligation Debt Service Fund Statement
Exhibit D-12
Hotel Occupancy Tax Debt Service Fund Statement
Exhibit D-13
Infrastructure Investment Fund Statement
Exhibit D-14
Capital Projects Fund Statement
Exhibit D-15
Airport Enterprise Fund Statement
Exhibit D-16
Utility Enterprise Fund Statement
Exhibit D-17
Storm Water Enterprise Fund Statement
Exhibit D-18
Self-Funded Special Project Fund
Exhibit D-19
Addison Grove Escrow Fund
Exhibit D-20
Information Technology Internal Service Fund Statement
Exhibit D-21
Capital Replacement Internal Service Fund Statement
Exhibit D-22
General Fund Long-Term Financial Plan
Exhibit E-1
Hotel Special Revenue Fund Long-Term Financial Plan
Exhibit E-2
Airport Fund Long-Term Financial Plan
Exhibit E-3
Utility Fund Long-Term Financial Plan
Exhibit E-4
Storm Water Fund Long-Term Financial Plan
Exhibit E-5
Modified Level of Service Items
Exhibits F-1 to F-2
Airport Operator Operation and Maintenance Budget
Exhibit G
Capital Projects Summary
Exhibit H-1 to H-3
Long-Term Debt Outstanding
Exhibit I-1 to I-3
July 29, 2016
Honorable Mayor and Members of the City Council,
I am pleased to present the fiscal year 2017 proposed budget for the Town of Addison.
It has been prepared in conformance with the requirements of the Town Charter, Town
financial policies, and State law. This budget represents the expected revenues and
planned expenditures for the Town’s fiscal year from October 1, 2016, to September 30,
2017. The proposed budget for fiscal year 2017 seeks to build a solid foundation for the
future by putting first things first and living within our means.
While Addison is currently enjoying the fruits of prosperity, it is important that we begin
to make plans today to address a number of big issues that will impact the Town’s
prosperity in the future. The fundamental issues of how we fund and rebuild our
infrastructure and facilities, how we attract, train, and retain talented and effective staff,
and how we continually improve the way we do business and the services we provide so
that Addison remains a vibrant and attractive place to live, work, and play all need to be
addressed.
With this budget, staff recommends allocating resources according to our needs and the
priorities of our citizens and City Council, while maintaining the conservative fiscal
approach that has allowed Addison to continue to maintain our stellar bond ratings (S&P
AAA; Moody’s AA1). This budget seeks to balance the high demand for quality services
with the ever increasing cost to deliver those services.
Staff has worked hard to develop a clear understanding of the needs that should be
addressed. It is important for the community to know of these needs so that everyone
understands that hard choices will have to be made.
Property Values
According to the Dallas Central Appraisal District, the total assessed property value for
fiscal year 2017 equals $4.3 billion, which equates to an overall increase of approximately
$264 million or 6.5% over the previous year.
Tax Rate
The proposed budget reduces the Town’s tax rate from $0.579150 in fiscal year 2016 to
$0.564131. This tax rate allows the Town to continue to provide quality services and to
begin to address outstanding issues related to infrastructure, attracting and retaining
talented employees, and increases in the cost of doing business. Of the total tax rate,
$0.381215 is dedicated to operations and maintenance in the General Fund, and
$0.182916 is dedicated to general obligation debt service.
The average taxable value for a single-family home in Addison is $287,033, an increase
of approximately $18,500, or 6.9% from the previous year. At a property tax rate of
$0.564131, the municipal tax paid on the average single-family home will be
approximately $1,620, an increase of $64.27 over the previous year.
GENERAL FUND
The General Fund Accounts for all expenditures for traditional government services
(Public Safety, Parks & Recreation, Administration, etc.). General Fund revenue is
generated from ad valorem property taxes, a one-cent portion of the sales tax, and a
variety of fees for services.
General Fund revenues total $35.7 million for the fiscal year 2017 budget, an increase of
7% over last year. The Town’s sales tax remains at the state maximum of 8.25%. Of
that amount 2% is for local use with 1% contributed to the Town of Addison’s General
Fund and the other 1% dedicated for our contribution to our membership in the Dallas
Area Rapid Transit (DART) system. The sales tax received by the General Fund is
projected to generate revenue of approximately $13.4 million, a 2.8% increase from the
estimated 2015-2016 year-end. We believe this is a conservative projection given
continued positive economic activity.
General Fund operating expenditures total $35.3 million, reflecting a 6% increase from
the estimated fiscal year 2016 budget. The available ending fund balance for the General
Fund is projected to be $11,147,999 leaving 31.2% of operating reserves, which exceeds
the Town policy of 25%.
In order to maintain the existing levels of service that the Town provides, this budget
proposes to fund the following in the General Fund:
-
Compensation – This budget proposes merit increases of between 0% - 5% for a
total average increase of 3%. These funds are budgeted to take effect January
2017. Additionally, this budget plans for a certification pay study and an amount
of $190,000 for implementation of the study’s findings.
-
Health Insurance – We anticipate additional costs related to our health insurance
coverage. We are budgeting for a 5% increase (approximately $148,000). Any
costs in excess of our 5% budget we plan on addressing with adjustments to the
design of our health benefit plan.
-
Development Services – 1 FTE: An entry-level planner position is requested to be
funded at half the fiscal year to alleviate the work load on the Assistant Director
of Development Services. The new position will focus on basic planning functions
such as answering inquiries, researching zoning issues, and processing routine
requests. The added position will allow the Assistant Director focus on complex
zoning cases, leading long-range planning efforts, addressing code revisions, and
managing the other aspects of the Development Services operations.
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-
Fire – 0.7 FTE: It is requested that we convert the part-time Fire Inspector (0.3
FTE) to a full-time Fire Inspector. This full-time Fire Inspector will be able to assist
the current Fire Prevention Specialist (an Addison Fire Department Captain) in
completing prevention activities related to the built environment (i.e. building
inspections, plan review, systems testing, etc.). Not only will the full-time position
help alleviate the current work load, this is an important part of succession
planning as the current Fire Prevention Specialist has been with the Town for 33
years.
-
Parks – 1 FTE: A Fountain/Electrical Technician is requested to be funded at half
the fiscal year to maintain the Town’s many fountains and related electrical
systems. Currently, Irrigation Technicians do this repair work but they are not
trained to do so and are spending approximately 29% of their time working on
fountains and electrical work instead of caring for the irrigation systems. This
position would resolve potential liability concerns as well as improve the efficiency
of our Irrigation Technicians.
-
Economic Development – The Addison Grove project will begin this year. The Town
is obligated to pay incentive fees to the developer based on certain performance
criteria. It is expected that the first incentive payment will be paid in fiscal year
2018. Per the funding plan presented to Council, we are preparing to fund these
incentive payments through transfers from various funds into a special revenue
fund for this project. This year, the General Fund will transfer $500,000 to the
Addison Grove Escrow Fund.
Additional dollars are budgeted to cover the increasing costs to maintain existing levels
of service. Examples of such increases include: payment to the North Texas Emergency
Communications Center, maintenance of Town facilities, irrigation water costs for Parks
facilities, landscape maintenance, Texas Municipal Retirement System increases
associated with actuarial changes, and credit card charges that the Town absorbs, just
to name a few.
HOTEL FUND
The Hotel Fund collects funds from a 7% tax on hotel rooms rented in the Town of
Addison. These funds are used to support projects that enhance and promote tourism,
the arts, and the convention/hotel industry in Addison.
Fund revenues for fiscal year 2017 are expected to total $9.5 million with budgeted
expenses of $7.7 million. The available ending fund balance for the Hotel Fund is
projected to be $4.2 million, leaving 46.5% of operating reserves, which exceeds the
Town policy of 25%.
The Hotel Fund budget includes the costs associated with the Performing Arts
department. The only remaining expenditure in the Performing Arts department is the
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grant to the WTT. Tracking all expenditures paid to non-profits is an important component
of adhering to best business practices and ensuring that our Theatre and Conference
Centre are competitive in the convention and theatre market.
This budget proposes to fund the following in new items from the Hotel Fund:
- Roof and Fire Suppression Repair – $438,000 for repair of the Conference and
Theatre Centre roof and fire suppression system.
-
Marketing Specialist – 1 FTE: A Marketing Specialist is requested to keep up with
the need to communicate externally to attract people to Addison. Additionally, this
position will play an important role in the implementation of a comprehensive Town
communication plan.
-
Sales Consultant – 1 FTE: A Sales Consultant is requested to convert the current
contract employee to a Town employee. Creating this FTE appropriately reflects
the true employment relationship and brings the Town in compliance with the Fair
Labor Standards Act. It is anticipated that this position will generate sufficient
revenues for the Conference Centre to cover the costs associated with this
position.
-
Position Reclassification – It is requested that the Senior Special Events
Coordinator position be reclassified to a Special Events Manager.
This
reclassification is in keeping with the succession planning efforts of the Special
Events Department.
UTILITY FUND
The Utility Fund is expected to begin fiscal year 2017 with a working capital balance of
$10,069,003. The total fund revenues are expected to be approximately $10,727,000,
allowing for budgeted expenses of $10,142,846. The available ending working capital
balance for the Utility Fund is projected to be $3,774,400, leaving 37.2% of operating
reserves, which exceeds the Town policy of 25%.
Notable items in the Utility Fund this year include: pending increases in both water and
sewer rates of approximately 2% or $0.78 per month for an average residential user of
5,000 gallons of water. This increase is caused by increased costs charged to the Town
by our water and sewer providers, Dallas Water Utilities and The Trinity River Authority
respectively. Per ordinance, these cost increases are passed on to water and sewer
consumers.
A total of $4.7 million in capital projects has been proposed in the Utility Fund for fiscal
year 2017, which will be paid from working capital balance.
This budget proposes to fund the following in new items from the Utility Fund:
- Geographical Information System (GIS) Analyst – 0.33 FTE: A GIS Analyst is
requested to build our internal organizational capacity in this area with an eye
4
towards creating a comprehensive asset management program. GIS is a critical
part of being able to manage the Town’s assets (infrastructure, facilities, etc.). It
is proposed that the Utility Fund cover 1/3 of the cost of this new position.
-
Addison Grove Economic Development Incentive – $1,000,000: The Utility Fund
will transfer $1 million to the Addison Grove Escrow Fund to cover the
reimbursement of costs associated with the public infrastructure for the Addison
Grove Redevelopment project.
STORMWATER FUND
The Stormwater Fund is supported by drainage fees on utility bills. The anticipated
revenues for fiscal year 2017 are $1,850,000 with budgeted expenditures totaling
$615,368. The available ending working capital for the Stormwater Fund is projected to
be $5,447,209, leaving 885.2% of operating expenditures, which exceeds the Town policy
of 25%.
Fees for the Stormwater Fund will increase this year per the Council-approved rate
schedule instituted at the time of passage of the enabling ordinance.
A total of $3.8 million in capital projects has been proposed in the Stormwater Fund for
fiscal year 2017, with the most significant items including Les Lacs/Winnwood Ponds ($1.1
million), a Stormwater Master Plan Study ($600,000), and improvements to Sherlock
Basin ($800,000).
This budget proposes to fund the following in new items from the Stormwater Fund:
is proposed that the Stormwater Fund cover 1/3 of the cost of this new position.
-
Increases in Costs of Rental Equipment – $15,000: This increase is intended to
allow the Stormwater division additional funds to rent larger pieces of equipment
as needed for the increasing number of operational activities. The current
expectation is to utilize these types of equipment 6-8 times in a year which doesn’t
justify outright purchase of the equipment.
-
Addison Grove Economic Development Incentive – $500,000: The Stormwater
Fund will transfer $500,000 to the Addison Grove Escrow Fund to cover the
reimbursement of costs associated with the public infrastructure for the Addison
Grove Redevelopment project.
The Stormwater Fund has a projected working capital adequate for funding of these
projects for fiscal year 2017.
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ECONOMIC DEVELOPMENT FUND
The Economic Development Fund is supported by a combination of following revenue
sources:
- An allocation of a portion of the property tax rate ($1 million)
- A transfer from the General Fund for Economic Development Incentive Agreements
($425,000)
- A transfer from the Hotel Fund to cover the Tourism Department activities
($548,000)
These revenue sources allow for budgeted expenses of $2 million. There are no Modified
Levels of Service proposed for this fund for fiscal year 2017.
The Economic Development Treehouse project has produced excellent results. The
Addison Economic Development Department is housed within the Treehouse and is
surrounded by over 60 existing startups. In 2016, the Texas Economic Development
Council recognized the Treehouse with a Community Development Award and that same
year, the International Economic Development Council also recognized the Treehouse
with a Bronze Award for Entrepreneurship.
Since its opening in 2014, the Treehouse has helped launch more than 150 startups and
hosted more than 200 events, bringing in more than 6,000 visitors. Corporate mentors
have provided over 400 hours of whiteboard sessions. Collide Village Accelerator also
launched within the Treehouse, graduating 14 new businesses. Over 200 new jobs have
been created in Addison with more to come. Local startups have also attracted over $4.1
million in private investment.
AIRPORT FUND
The Airport Fund is expected to begin fiscal year 2017 with a working capital balance of
$3,323,963. The total fund revenues are expected to be approximately $5,500,158,
allowing for budgeted expenses of $4,394,248. The budget anticipates additional
revenues from recently approved increases to the fuel flowage fees. The available ending
working capital balance for the Airport Fund is projected to be $2,269,040, which is 51.6%
of operating expenditures, which exceeds the Town policy of 25%.
Capital projects in the fund total $1.6 million, which includes $270,000 to design a
customs facility, $181,000 to design and construct a new hangar at the Flightline site and
$159,000 for a sweeper truck, among several other capital purchases/projects.
This budget proposes to fund the following in new items from the Airport Fund:
is proposed that the Airport Fund cover 1/3 of the cost of this new position.
6
INFRASTRUCTURE INVESTMENT FUND (IIF)
The Infrastructure Investment Fund was created in fiscal year 2015 through a $4 million
transfer from General Fund reserves. Annually, a portion of the property tax rate equal
to approximately $250,000 is deposited into this fund. The intent of this fund is to cash
finance infrastructure projects. The fiscal year 2017 budget appropriates $1.56 million for
capital projects, including $300,000 to create an ADA Transition Plan. This plan is an
important part of how we move forward with addressing how our infrastructure complies
with the Americans with Disabilities Act (ADA) of 1990.
The IFF will transfer $500,000 to the Addison Grove Escrow Fund to cover the
reimbursement of costs associated with the public infrastructure for the Addison Grove
Redevelopment project.
BOND FUNDED CAPITAL PROJECTS
The majority of capital projects are bond funded. For fiscal year 2017, $21.4 million has
been budgeted for capital projects which are funded by bonds. The largest of these
projects includes finalizing phase 1 of the Belt Line Road Utility Relocation ($12.36
million), Vitruvian Park Public Infrastructure ($5.2 million), and completion of the Midway
Road Design and Rehabilitation ($1.65 million).
UNFUNDED CAPITAL PROJECTS
The town currently funds capital improvements on a year-to-year basis. While there are
a list of known capital needs across multiple Funds and departments, it is not
comprehensive and the majority of the projects are not funded. With an incomplete
project list and no identified project funding for the majority of the projects, it is hard to
say we have anything more than an ad-hoc capital improvement program. In fiscal year
2017, staff will begin to develop a true five-year capital improvement program so that we
can address our infrastructure and facility needs in a systematic and intentional manner.
This is important to know because, when factoring in our capital improvement needs,
existing fund and working capital balances in some of our Funds may be insufficient to
both maintain our desired reserve levels and fund capital improvements.
NEWLY CREATED FUNDS FOR FISCAL YEAR 2017
Newly established this budget year are three funds: the Public, Educational, and
Governmental Access Channels (PEG) Fee Fund, the Addison Grove Escrow Fund, and
the Self-Funded Special Project Fund.
The PEG fund accounts for monies derived from cable fees mandated by the State
government. Currently, those funds have been collected and reported in the General Fund
fund balance and are restricted for a specific use. To properly account for them, this new
fund has been created, and the funds have been transferred from the General Fund fund
balance to the PEG Fund. PEG monies can only be used for capital projects to support
7
TOWN OF ADDISON
CITY MANAGER PROPOSED FY2017 BUDGET SUMMARY
The following is a summary of the Fiscal Year (FY) 2016 – 2017 proposed annual budget of the
Town of Addison that was submitted to the City Secretary on July 29, 2016.
1. The total budget appropriates approximately $112 million, of which $34.5 million is
allocated to capital project expenditures. This proposed budget provides sufficient funding
to tailor services to meet the needs and expectations of the community.
2. The proposed property tax rate is less than last year’s rate. The City Manager is proposing
a property tax rate of $0.564131/$100, which is below the Rollback rate of $0.566192/$100.
The proposed rate is above the Effective rate of $0.545760/$100.
3. The certified taxable property value increased by 6.5 percent. The certified value for all
property is approximately $4.3 billion. At the proposed rate this generates a total property tax
levy of $24,274,459.
4. Revenues total $74.4 million, a net increase of $4.3 million compared to the fiscal year
2016 budget. Significant variations in revenue sources include:




Property tax revenue is projected to be up $613,000 due primarily to a 6.6% increase in
property values.
Sales tax revenue is projected to be up $1.1 million from the previous year due to the
expanding local economy.
Hotel occupancy taxes anticipated to increase $500,000 due to two hotels opening in fiscal
year 2017.
Special event proceeds are projected to be up $645,000 primarily due to a change in the
accounting method for the revenues and expenditures associated with TastyBucks.
5. The average home values appreciate. The average taxable value of a residence homestead
this year is $287,033, up 6.91%. At the proposed tax rate, the amount of taxes on the average
home would be $1,619.24. Last year’s average taxable value was $268,491 with a property tax
bill of $1,554.97. Based on these values, taxpayers could see an average annual increase of
$64.27 (values and amounts may depend on individual taxpayer home values).
6. Compensation in the proposed budget includes $398,900 for a merit pay for eligible
employees. The merit pay is calculated at an average of 3% and for nine months of the fiscal
year. Healthcare costs are expected to increase by $350,000, and worker’s compensation costs
by $43,000. The budget also includes $190,000 for a certification study and pay adjustment.
7. The total staffing (all funds) is at 275.3 FTE (full-time equivalent) which is an increase of
5.7 FTEs over last year. In FY2016, 14.5 FTEs for Emergency Communication dispatchers
were transferred to the North Texas Emergency Communication Center (NTECC). Below is a
summary of staffing changes:
9
TOWN OF ADDISON
CITY MANAGER PROPOSED FY2017 BUDGET SUMMARY (CONTINUED)
Position
FY2016 Adopted Staffing – Net of dispatchers transferred to NTECC
Additions:
Planner for the Development Services Department#
Fountain Technician/Electrician for the Parks Department#
GIS Analyst for the Airport, Utility, and Stormwater Funds
Sales Consultant for the Addison Conference Centre
Marketing Specialist for the Marketing Department
Part-time to full-time Fire Inspector for the Fire Department
Reclassification of Senior Special Events Coordinator to Special Events
Manager for the Special Events Department
Total Proposed Additions
FTEs
269.6
1.0
1.0
1.0
1.0
1.0
0.7
0.0
5.7
Total Proposed Staffing
275.3
#
These positions are funded for one-half year – hire expected April 1, 2017.
7. The budget includes Modified Level of Service items that enhance operations and the
quality of service provided to the community. For FY2017 these items include:


Conference Centre Facility Major Maintenance Items
Rental Line item increase for Stormwater
$438,000
$15,000
8. The budget includes over $34.5 million being spent on capital projects. Significant items
include:*





Belt Line Road
Vitruvian Phase 4 & 5
Surveyor Ground Storage Tank Rehab
Midway Road Design & Rehabilitation
Airport facilities and redevelopment per approved Master Plan
$12,356,624
$5,204,847
$2,500,000
$1,653,250
$1,598,317
(*Note: Project amounts reflect anticipated expenditures for the year; total project budgets
are greater than the amounts shown.)
9. The budget supports the Infrastructure Investment Fund which is restricted to
infrastructure projects and new investment opportunities. All appropriations require
Council approval. New projects to begin in FY2017 include:




Addison Grove Incentive Payment
Americans with Disabilities Act (ADA) Transition Plan
Pavement Management Program
Streets and Sidewalk Improvements
10. The budget includes funding for non-profit organizations totaling $608,000.
9
10
$500,000
$300,000
$250,000
$250,000
TOWN OF ADDISON
CITY MANAGER PROPOSED FY2017 BUDGET SUMMARY (CONTINUED)
11. The budget has a provision to use Public, Educational, and Governmental Funds (PEG).
These funds are provided by a fee on each cable bill. Proposed expenditures are for upgrading
the Town’s technology for the recording and distribution of Council Meetings and Workshops.
12. Establishment of an Addison Grove Incentive Escrow Fund. This fund is being set up to
accumulate monies for payment of the incentives due to the developer after meeting certain
criteria. In the FY2017 budget, this fund will accumulate $2.5 million as follows: $1 million
from Utility fund, and $500,000 each from the General Fund, Infrastructure Investment Fund,
and the Stormwater Fund. The first payment is expected in FY2018.
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11
TOWN OF ADDISON
COMBINED SUMMARY OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL FUNDS SUBJECT TO APPROPRIATION
City Manager Proposed FY2017 Annual Budget With Comparisons to FY2016 Adopted Budget
BEGINNING BALANCES
General
Fund
$ 11,646,301 $
Special Revenue Funds
Capital Project Funds
Economic
Combined
Combined
Combined
Infrastructure
Combined
Hotel
Development
Grants
Other
Debt Service
Investment
Bonds
3,644,081 $
660,126 $ 27,494 $ 1,427,630 $
2,996,571 $ 3,782,383 $ 29,217,284 $
Proprietary Funds
Combined
Airport
Utility
Stormwater
Replacement
3,323,963 $ 10,069,003 $
8,481,643 $
5,713,948 $
TOTAL
2016-17
2015-16
80,990,428 $ 77,919,000
REVENUES:
Ad valorem tax
Non-property taxes
Franchise fees
Licenses and permits
Intergovernmental
Service fees
Fines and penalties
Rental income
Interest & other income
TOTAL REVENUES
Transfers from other funds
14,856,615
14,660,000
2,870,300
845,800
1,493,100
675,000
70,000
175,000
70,000
35,715,815
-
6,000,000
2,691,200
789,240
17,000
9,497,440
-
1,001,252
67,000
6,100
1,074,352
973,000
15,901
200
16,101
-
109,610
1,950
111,560
2,500,000
7,880,711
12,000
7,892,711
711,500
250,313
5,000
255,313
-
125,900
125,900
-
221,293
932,380
4,346,485
24,500
5,524,658
-
10,637,000
75,000
(31,400)
10,680,600
-
1,850,000
67,700
1,917,700
-
1,550,000
71,800
1,621,800
-
23,988,891
20,660,000
2,870,300
845,800
1,730,294
18,402,580
254,610
5,310,725
370,750
74,433,950
4,184,500
23,376,000
18,675,000
2,680,000
820,000
50,000
18,104,000
903,000
5,262,000
316,000
70,186,000
1,272,000
TOTAL AVAILABLE RESOURCES
47,362,116
13,141,521
2,707,478
43,595
4,039,190
11,600,782
4,037,696
29,343,184
8,848,621
20,749,603
10,399,343
7,335,748
159,608,878
149,377,000
EXPENDITURES:
General Government
Public Safety
Urban Development
Streets
Parks & Recreation
Tourism & Economic Development
Aviation
Utilities
Debt service
Capital projects and other uses
TOTAL EXPENDITURES
Transfers to other funds
9,467,620
17,196,216
1,396,475
1,752,423
5,476,383
35,289,117
(925,000)
7,709,533
7,709,533
(1,259,500)
2,045,915
2,045,915
-
5,200
5,200
-
281,597
1,045,500
1,327,097
-
8,424,938
8,424,938
-
1,563,106
1,563,106
(500,000)
21,380,430
21,380,430
-
4,394,248
587,016
1,598,317
6,579,581
-
10,142,846
1,070,358
4,762,000
15,975,203
(1,000,000)
615,368
544,266
3,292,500
4,452,134
(500,000)
3,450,126
3,450,126
-
12,922,946
17,477,813
1,396,475
1,752,423
5,476,383
9,755,448
4,394,248
10,758,213
10,626,578
33,641,853
108,202,381
(4,184,500)
10,898,415
16,693,361
1,384,293
2,060,482
5,115,813
7,492,341
4,225,261
9,729,536
11,109,532
41,108,407
109,817,441
(1,272,124)
1,437
10,901
1,284,463
179,273
(1,807,793)
(21,254,530)
(1,054,923)
(6,294,603)
(3,034,434)
(1,828,326)
(33,768,431)
(39,631,565)
Net Change in Fund Balance
ENDING FUND BALANCES
(498,302)
$ 11,147,999 $
528,407
4,172,488 $
661,563 $
38,395 $ 2,712,093 $
3,175,844 $ 1,974,590 $
7,962,754 $
2,269,040 $
3,774,400 $
5,447,209 $
3,885,622 $
47,221,997 $
38,287,435
Exhibit A
TOWN OF ADDISON
PROPERTY TAX DISTRIBUTION
CALCULATIONS
City Manager Proposed FY2017 Annual Budget
2016 CERTIFIED TAX ROLL & LEVY:
Appraised Valuation (100%)
Rate Per $100
$
$4,302,982,597
0.564131
TOTAL TAX LEVY
Percent of Current Collection
$
24,274,459
98.70%
Estimated Current Tax Collections
$
23,958,891
$
23,958,891
5,000
25,000
$
23,988,891
SUMMARY OF TAX COLLECTIONS:
Current Tax
Delinquent Tax
Penalty and Interest
TOTAL 2016-17 TAX COLLECTIONS
DISTRIBUTION OF TAX RATE:
TAX
RATE
% OF
TOTAL
AMOUNT
Maintenance & Operations (M&O):
General Fund:
Current Tax
Delinquent Tax
Total General Fund
14,838,036
3,096
15,483
$0.351573
62.32%
14,856,615
Economic Development Fund:
Current Tax
Delinquent Tax
Total Economic Development Fund
1,000,000
209
1,043
$0.023716
4.20%
1,001,252
Infrastructure Replacement Fund:
Current Tax
Delinquent Tax
Total Infrastructure Replacement Fund
Total M&O Portion
250,000
52
261
$0.005926
1.05%
250,313
$0.381215
67.58%
16,108,180
Debt Service:
Debt Service Fund:
Current Tax
Delinquent Tax
Total Debt Service Fund
TOTAL DISTRIBUTION
7,870,855
1,643
8,213
$0.182916
32.42%
$0.564131
100.00%
7,880,711
$
23,988,891
EXHIBIT B
TOWN OF ADDISON
BUDGETED DEPARTMENTAL STAFFING SUMMARY
City Manager Proposed 2016-17 Annual Budget With Comparisons to 2015-16 Adopted Budget
2013
General Fund:
City Secretary
City Manager
Finance
General Services
Municipal Court
Human Resources
Information Technology
Police
Emergency Communications
Fire
Development Services
Code Enforcement
Streets
Parks
Recreation
Total General Fund
Hotel Fund
Economic Development Fund
Airport Fund
Utility Fund
Stormwater Fund
TOTAL ALL FUNDS
Fiscal Years Ending September 30
2014
2015
2016
2017
7.0
9.0
5.0
5.4
5.2
7.0
73.8
13.5
52.3
7.2
5.0
21.0
14.6
226.0
16.0
2.0
3.0
18.0
265.0
8.5
9.7
5.0
5.7
3.3
7.0
75.3
14.5
55.3
7.2
5.4
21.0
15.1
233.0
17.0
3.0
3.0
18.3
1.4
275.7
8.5
9.7
5.0
5.7
3.3
7.0
79.8
14.5
55.3
7.2
2.0
5.4
21.0
15.1
239.5
14.8
4.0
3.0
16.6
1.7
279.6
7.5
13.0
5.0
5.7
4.0
7.0
79.8
55.3
7.2
2.0
5.4
22.0
15.1
229.0
14.3
4.0
3.0
17.6
1.7
269.6
1.0
5.5
13.0
6.0
5.7
4.0
7.0
79.8
56.0
10.2
6.4
22.0
15.1
231.7
16.3
4.0
3.4
17.9
2.0
275.3
Difference
16-17
1.0
(2.0)
1.0
0.7
3.0
(2.0)
1.0
2.7
2.0
0.4
0.3
0.3
5.7
All positions are shown as full-time equivalent (FTE).
EXHIBIT C
TOWN OF ADDISON
GENERAL FUND
SCHEDULE OF REVENUES BY SOURCE
Actual
2014-15
Ad valorem taxes:
Current taxes
Delinquent taxes
Penalty and interest
Non-property taxes:
Sales tax
Alcoholic beverage tax
Franchise / right-of-way use fees:
Electric franchise
Gas franchise
Sanitation franchise
Telecommunication access fees
Cable franchise
Street rental fees
Licenses and permits:
Business registration
Building and construction permits
Service fees:
General government
Public safety
Urban development
Streets and sanitation
Recreation
IT Indirect cost recovery
Court fines
Interest earnings
Rental income
Recycling proceeds
Other
TOTAL REVENUES
$
$
11,424,738
(71,220)
25,457
Budget
2015-16
$
13,940,240
6,750
16,720
Estimated
2015-16
$
13,581,439
(53,255)
24,300
Budget
2016-17
$
14,838,036
3,096
15,483
13,038,912
1,176,643
12,305,000
870,000
13,033,701
1,207,948
13,400,000
1,260,000
1,539,972
273,320
1,500,000
190,000
1,569,000
217,389
593,387
414,891
6,850
650,000
335,000
5,000
636,529
334,796
7,380
1,575,000
217,400
120,000
636,500
316,400
5,000
259,487
751,736
170,750
649,450
158,541
735,860
247,800
598,000
849
849,998
3,830
400,562
72,279
230,000
723,931
20,992
236,667
10,403
108,336
500
886,000
3,000
382,600
80,300
230,000
781,900
30,000
275,000
15,000
43,905
500
733,305
3,000
382,600
69,300
230,000
719,000
42,000
197,000
15,000
236,317
500
785,200
3,000
282,200
73,300
348,900
675,000
70,000
175,000
10,000
60,000
32,092,020
$
33,367,115
$
34,081,650
$
35,715,815
EXHIBIT D-1
TOWN OF ADDISON
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES TO FUND BALANCE
Actual
2014-15
BEGINNING BALANCE
$
Budget
2015-16
15,506,011
$
Estimated
2015-16
11,201,712
$
11,601,861
Budget
2016-17
$
11,646,301
REVENUES:
Ad valorem taxes
Non-property taxes
Franchise fees
Service fees
Fines and penalties
Interest earnings
Rental income
Other
TOTAL REVENUES
11,378,975
14,215,555
2,828,420
1,011,223
1,507,653
725,189
69,431
236,667
118,907
32,092,020
13,963,710
13,175,000
2,680,000
820,200
1,582,400
781,900
30,000
275,000
58,905
33,367,115
13,552,484
14,241,649
2,765,094
894,401
1,418,705
719,000
42,000
197,000
251,317
34,081,650
14,856,615
14,660,000
2,870,300
845,800
1,493,100
675,000
70,000
175,000
70,000
35,715,815
TOTAL RESOURCES AVAILABLE
47,598,031
44,568,827
45,683,511
47,362,116
1,521,976
1,009,649
684,803
502,250
492,879
1,585,509
1,278,768
578,233
1,302,565
1,231,286
666,310
586,428
583,959
1,910,708
1,475,980
331,879
1,263,988
1,301,982
815,350
569,915
599,531
1,927,669
930,118
320,885
202,150
1,107,066
1,680,385
815,825
617,930
615,228
1,938,281
2,173,411
317,345
EXPENDITURES:
General government:
City Secretary
City Manager
Finance
General Services
Municipal Court
Human Resources
Combined Services
Council Projects
Public safety:
Police
Emergency Communications
Fire
Property Standards
Streets
Parks and Recreation:
Parks
Recreation
TOTAL EXPENDITURES
8,561,703
1,383,173
6,732,790
1,090,973
1,803,135
8,520,606
1,318,483
6,808,772
1,211,637
172,656
2,060,482
8,229,429
1,565,379
6,799,686
1,116,600
108,050
1,977,129
8,690,999
1,410,505
7,094,711
1,396,475
1,752,423
3,103,939
1,651,393
31,981,170
3,463,320
1,652,493
33,297,564
3,508,930
1,660,569
32,695,210
3,738,825
1,737,558
35,289,117
OTHER FINANCING SOURCES (USES):
Transfer from Hotel Fund
Transfer to Economic Development Fund
TOTAL OTHER FINANCING SOURCES (USES)
(4,015,000)
(4,015,000)
(15,000)
(15,000)
(3,904,150)
54,551
1,371,440
1,698
11,601,861
11,256,263
12,973,301
11,647,999
-
-
NET CHANGE IN FUND BALANCE
FUND BALANCE
One Time Funding Sources (Uses):
Transfer to Escrow Fund (Addison Grove)
Transfer to PEG Fund
ENDING FUND BALANCE
$
11,601,861
$
11,256,263
(15,000)
(15,000)
(425,000)
(425,000)
(327,000)
$
11,646,301
(500,000)
$
11,147,999
Note: Financial statements encompass all assumptions listed on General Fund Long Term Plan
(i.e. compensation and insurance adjustments, proposed Modified Levels of Service, etc.)
EXHIBIT D-2
TOWN OF ADDISON
HOTEL SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
1,194,674
Budget
2015-16
$
2,315,028
Estimated
2015-16
$
2,040,729
Budget
2016-17
$
3,644,081
REVENUES:
Hotel/Motel occupancy taxes
Proceeds from Special Events
Conference Centre rental
Visitor Centre rental
Theatre Centre rental
Interest earnings and other
5,512,956
1,014,650
638,045
183,429
143,248
19,719
5,500,000
2,045,717
630,000
122,290
10,000
5,884,000
1,893,435
668,000
80,000
6,025
6,000,000
2,691,200
678,000
111,240
17,000
TOTAL REVENUES
7,512,047
8,308,007
8,531,460
9,497,440
8,706,721
10,623,035
10,572,189
13,141,521
765,286
959,139
872,579
2,279,533
542,067
36,310
5,454,912
400,000
1,216,466
972,224
2,529,296
581,385
107,263
5,806,634
200,000
1,145,906
946,981
2,695,657
581,594
100,845
5,670,984
1,453,463
1,092,730
4,145,843
400,384
447,000
170,113
7,709,533
(1,211,082)
(1,211,082)
(1,257,124)
(1,257,124)
(1,257,124)
(1,257,124)
(1,259,500)
(1,259,500)
1,244,249
1,603,352
EXPENDITURES:
Visit Addison
Conference Centre
Marketing
Special Events
Addison Theatre Centre
Performing Arts
General hotel operations
TOTAL EXPENDITURES
Transfer to General Fund
Transfer to other funds
ENDING FUND BALANCE
846,053
$
2,040,729
$
3,559,277
$
3,644,081
528,407
$
4,172,488
Note: Financial statements encompass all assumptions listed on Hotel Fund Long Term Plan
EXHIBIT D-3
TOWN OF ADDISON
ECONOMIC DEVELOPMENT FUND
Actual
2014-15
BEGINNING BALANCE
$
477,233
Budget
2015-16
$
473,332
Estimated
2015-16
$
752,819
Budget
2016-17
$
660,126
REVENUES:
Ad valorem taxes:
Current taxes
Delinquent taxes
Penalty and interest
Business licenses and permits
TOTAL REVENUES
973,607
(6,062)
2,169
68,395
3,844
1,041,953
998,800
480
1,190
70,000
10,200
1,080,670
971,600
(3,800)
1,700
68,516
2,400
1,040,416
1,000,000
209
1,043
67,000
6,100
1,074,352
1,519,186
1,554,002
1,793,235
1,734,478
EXPENDITURES:
Personnel services
Supplies
Maintenance
Contractual services
Capital replacement/lease
TOTAL EXPENDITURES
354,313
20,854
62,447
824,881
19,154
1,281,649
381,809
29,700
50,541
1,198,076
25,581
1,685,707
389,735
29,700
50,541
1,198,076
25,581
1,693,633
388,352
32,450
57,362
1,544,745
23,006
2,045,915
Transfer from General Fund
15,000
500,282
515,282
15,000
545,524
560,524
15,000
545,524
560,524
425,000
548,000
973,000
275,586
(44,513)
(92,693)
ENDING BALANCE
$
752,819
$
428,819
$
660,126
1,437
$
661,563
Note: Financial statements encompass all assumptions listed on Hotel Fund Long Term Plan
EXHIBIT D-4
TOWN OF ADDISON
ADVANCED FUNDING GRANT FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
Intergovernmental
TOTAL REVENUES
EXPENDITURES:
Supplies
TOTAL EXPENDITURES
Transfer to General Fund
ENDING BALANCE
$
Budget
2015-16
21,887
$
Estimated
2015-16
25,858
$
Budget
2016-17
23,394
$
27,494
5,421
99
5,520
50
50
5,400
100
5,500
15,901
200
16,101
27,407
25,908
28,894
43,595
4,013
4,013
200
5,000
5,200
1,400
1,400
200
5,000
5,200
-
-
-
-
23,394
$
20,708
$
27,494
$
38,395
EXHIBIT D-5
TOWN OF ADDISON
PUBLIC SAFETY SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
Court awards
TOTAL REVENUES
EXPENDITURES:
Supplies
TOTAL EXPENDITURES
ENDING BALANCE
$
Budget
2015-16
19,185
$
Estimated
2015-16
23,135
$
19,190
Budget
2016-17
$
24,040
89
89
50
50
9,100
50
9,150
200
200
19,274
23,185
28,340
24,240
84
84
5,000
5,000
3,100
1,200
4,300
24,040
24,040
19,190
$
18,185
$
24,040
$
200
EXHIBIT D-6
TOWN OF ADDISON
PEG FEE SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
Budget
2015-16
Estimated
2015-16
-
$
Budget
2016-17
-
$
177,000
REVENUES:
Peg Fee Revenues
TOTAL REVENUES
-
-
-
72,000
50
72,050
-
-
-
249,050
EXPENDITURES:
Supplies
TOTAL EXPENDITURES
-
-
150,000
150,000
50,000
50,000
Transfer In (from General Fund)
-
327,000
-
ENDING BALANCE
$
-
$
-
$
177,000
$
199,050
Note: Fund established in FY2016.
EXHIBIT D-7
TOWN OF ADDISON
JUSTICE ADMINISTRATION SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
Justice administration fees
TOTAL REVENUES
EXPENDITURES:
Personnel services
Supplies
Maintenance
TOTAL EXPENDITURES
ENDING BALANCE
31,898
Budget
2015-16
$
$
28,892
Budget
2016-17
$
10,992
1,787
852
2,639
2,410
100
2,510
1,600
500
2,100
2,410
100
2,510
34,537
35,988
30,992
13,502
545
5,100
5,645
2,000
20,000
20,000
12,000
12,000
(17,900)
(9,490)
2,000
(3,006)
$
33,478
Estimated
2015-16
28,892
510
$
33,988
$
10,992
$
1,502
EXHIBIT D-8
TOWN OF ADDISON
CHILD SAFETY SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
Child Safety fees
TOTAL REVENUES
EXPENDITURES:
Personnel services
Supplies
Maintenance
Signal systems/street lights
TOTAL EXPENDITURES
ENDING BALANCE
$
101,664
Budget
2015-16
$
Estimated
2015-16
110,654
$
88,479
Budget
2016-17
$
91,979
8,001
289
8,290
8,900
50
8,950
10,000
500
10,500
8,200
600
8,800
109,954
119,604
98,979
100,779
21,475
21,475
7,500
7,000
7,500
7,000
10,000
5,000
50,000
35,000
100,000
(13,185)
1,450
3,500
(91,200)
88,479
$
112,104
$
91,979
$
779
EXHIBIT D-9
TOWN OF ADDISON
COURT TECHNOLOGY SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
79,591
Budget
2015-16
$
93,111
Estimated
2015-16
$
77,831
Budget
2016-17
$
70,231
REVENUES:
Court technology fees
TOTAL REVENUES
16,670
204
16,874
20,000
50
20,050
15,000
400
15,400
14,000
600
14,600
96,465
113,161
93,231
84,831
EXPENDITURES:
Personnel services
Supplies
Maintenance
Computer hardware/software
TOTAL EXPENDITURES
381
18,253
18,634
2,000
4,000
-
8,000
15,000
-
6,000
23,000
17,000
4,000
25,000
35,000
81,000
(1,760)
14,050
(7,600)
(66,400)
ENDING BALANCE
$
77,831
$
107,161
$
70,231
$
3,831
EXHIBIT D-10
TOWN OF ADDISON
BUILDING SECURITY SPECIAL REVENUE FUND
Actual
2014-15
BEGINNING BALANCE
$
65,782
Budget
2015-16
$
66,822
Estimated
2015-16
$
63,788
Budget
2016-17
$
53,388
REVENUES:
Court security fees
TOTAL REVENUES
12,497
181
12,678
15,000
50
15,050
11,000
300
11,300
13,000
400
13,400
78,460
81,872
75,088
66,788
EXPENDITURES:
Personnel services
Supplies
Maintenance
TOTAL EXPENDITURES
13,826
846
14,672
23,300
1,700
25,000
20,000
1,700
21,700
31,557
5,000
3,000
25,000
64,557
(1,994)
(9,950)
(10,400)
(51,157)
ENDING BALANCE
$
63,788
$
56,872
$
53,388
$
2,231
EXHIBIT D-11
TOWN OF ADDISON
GENERAL OBLIGATION DEBT SERVICE FUND
Actual
2014-15
BEGINNING BALANCE
$
1,020,159
Budget
2015-16
$
898,304
Estimated
2015-16
$
831,366
Budget
2016-17
$
2,506,529
REVENUES:
Ad valorem taxes
TOTAL REVENUES
7,984,536
9,892
7,994,428
8,161,580
13,740
8,175,320
8,100,000
8,000
8,108,000
7,880,711
9,400
7,890,111
9,014,587
9,073,624
8,939,366
10,396,640
EXPENDITURES:
Debt service - principal
Debt service - interest
Fiscal fees
TOTAL EXPENDITURES
4,833,152
3,347,020
3,049
8,183,221
5,140,150
3,030,043
12,000
8,174,510
4,220,000
2,200,837
12,000
6,432,837
4,938,331
2,771,107
4,000
7,713,438
810
1,675,163
176,673
ENDING BALANCE
(188,793)
$
831,366
$
899,114
$
2,506,529
$
2,683,202
EXHIBIT D-12
TOWN OF ADDISON
HOTEL FUND DEBT SERVICE FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
TOTAL REVENUES
487,491
Budget
2015-16
$
488,691
Estimated
2015-16
$
488,542
Budget
2016-17
$
490,042
1,416
1,416
1,200
1,200
1,500
1,500
2,600
2,600
488,907
489,891
490,042
492,642
EXPENDITURES:
Debt service - principal
Debt service - interest
Fiscal fees
TOTAL EXPENDITURES
640,000
70,800
365
711,165
660,000
51,300
300
711,600
660,000
51,300
300
711,600
680,000
31,200
300
711,500
710,800
711,600
711,600
711,500
1,051
1,200
1,500
2,600
ENDING BALANCE
$
488,542
$
489,891
$
490,042
$
492,642
EXHIBIT D-13
TOWN OF ADDISON
INFRASTRUCTURE INVESTMENT FUND
Actual
2014-15
BEGINNING BALANCE
$
Budget
2015-16
-
$
Estimated
2015-16
3,485,980
$
Budget
2016-17
3,908,975
$
3,782,383
REVENUES:
Ad Valorem tax contribution
TOTAL REVENUES
226,898
8,088
234,986
250,440
5,000
255,440
243,607
16,198
259,805
250,313
5,000
255,313
234,986
3,741,420
4,168,780
4,037,696
EXPENDITURES:
Design and Engineering:
Engineering and contractual services
Construction and equipment
TOTAL EXPENDITURES
193,754
132,257
326,011
30,000
925,000
955,000
15,003
371,394
386,397
1,013,106
550,000
1,563,106
4,000,000
4,000,000
-
-
Transfer in from General Fund
Transfer out to Addison Grove Escrow Fund
ENDING BALANCE
3,908,975
$
3,908,975
(699,560)
$
2,786,420
(500,000)
(500,000)
(126,592)
$
3,782,383
(1,807,793)
$
1,974,590
Note: The balance in this fund is restricted for specific projects. For a detailed listing by project, see Exhibit H.
EXHIBIT D-14
TOWN OF ADDISON
CAPITAL PROJECTS FUND
Actual
2014-15
BEGINNING BALANCE
$
REVENUES:
Intergovernmental
TOTAL REVENUES
EXPENDITURES:
Land Aquistion
TOTAL EXPENDITURES
Transfer In
Bond issues
Transfers Out
TOTAL OTHER FINANCING SOURCES/(USES)
ENDING BALANCE
Budget
2015-16
45,217,597
$
32,859,200
$
Budget
2016-17
36,992,655
$
29,217,284
158,253
207,959
366,212
54,000
54,000
180,000
180,000
125,900
125,900
45,583,809
32,913,200
37,172,655
29,343,184
4,882,500
3,708,654
8,591,154
3,000,000
1,700,000
26,834,243
31,534,243
90,283
7,865,088
7,955,371
1,653,250
19,727,180
21,380,430
-
-
-
-
(8,224,942)
$
Estimated
2015-16
36,992,655
(31,480,243)
$
1,378,957
(7,775,371)
$
29,217,284
(21,254,530)
$
7,962,754
Note: The balance in this fund is restricted for specific projects. For detailed listing, see Exhibit H.
EXHIBIT D-15
TOWN OF ADDISON
AIRPORT ENTERPRISE FUND
STATEMENT OF INCOME AND CHANGES IN WORKING CAPITAL
Actual
2014-15
INCOME STATEMENT
Operating revenues:
Operating grants
Fuel flowage fees
Rental
Other income (expense)
User fees
Total operating revenues
$
829,044
4,248,056
512,888
61,379
5,651,367
Budget
2015-16
$
50,000
791,680
4,234,732
161,250
5,237,662
Estimated
2015-16
$
50,000
817,368
4,375,231
146,099
5,388,698
Budget
2016-17
$
50,000
932,380
4,346,485
171,293
5,500,158
Operating expenses:
Town - Personnel services
Town - Supplies
Town - Maintenance
Town - Contractual services
Town - Capital replacement/lease
Grant - Maintenance
Operator - Operations and maintenance
Operator - Service contract
Total operating expenses
318,036
58,326
88,270
560,906
1,778,693
100,000
675,158
398,061
3,977,450
361,152
41,000
112,910
172,990
19,160
100,000
3,004,748
413,301
4,225,261
328,437
41,000
112,910
172,990
39,160
100,000
3,153,274
403,000
4,350,771
407,013
42,000
116,150
188,455
27,878
100,000
3,125,960
386,792
4,394,248
Net operating income
1,673,918
1,012,401
1,037,927
1,105,910
Non-operating revenues (expenses):
Interest on debt, fiscal fees and other
Capital contributions
Net non-operating revenues (expenses)
Net income (excluding depreciation)
13,588
(137,468)
5,000
(132,691)
(127,691)
(123,880)
10,000
(132,691)
(122,691)
24,500
(127,016)
(102,516)
$
1,550,038
$
884,710
$
915,236
$
1,003,394
$
1,550,038
$
884,710
$
915,236
$
1,003,394
CHANGES IN WORKING CAPITAL
Sources (uses) of working capital:
Retirement of long-term debt
Net additions to fixed assets (incl. capital
contributions from grants)
Other net additions to fixed assets (non-grant
eligible)
Other
Net sources (uses) of working capital
Net increase (decrease) in working capital
Beginning Working Capital
Ending Working Capital
(445,000)
(455,000)
(455,000)
(460,000)
(388,195)
(62,000)
(60,500)
(100,966)
55,706
(777,489)
(60,000)
(577,000)
(60,000)
(575,500)
(1,497,351)
(2,058,317)
772,549
2,211,678
$
2,984,227
307,710
1,783,670
$
2,091,380
339,736
2,984,227
$
3,323,963
(1,054,923)
3,323,963
$
2,269,040
Note: Financial statements encompass all assumptions listed on Airport Fund Long Term Plan
EXHIBIT D-16
TOWN OF ADDISON
UTILITY ENTERPRISE FUND
Actual
2014-15
INCOME STATEMENT
Operating revenues:
Water sales
Sewer charges
Tap fees
Penalties
Other income
$
5,678,134
4,436,230
12,580
64,949
1,200
10,193,093
Budget
2015-16
$
5,758,909
4,524,621
7,000
75,000
15,000
10,380,530
Estimated
2015-16
$
5,576,551
4,124,431
10,280
80,000
20,000
9,811,261
Budget
2016-17
$
6,040,000
4,590,000
7,000
75,000
15,000
10,727,000
Operating expenses:
Water purchases
Wastewater treatment
Utility operations
3,223,750
2,496,828
3,046,128
8,766,706
3,459,088
2,298,729
3,419,430
9,177,247
3,159,257
2,634,648
3,299,098
9,093,003
3,700,000
2,590,000
3,852,846
10,142,846
1,426,387
1,203,284
718,258
584,154
18,000
(285,978)
(267,978)
(46,400)
(493,689)
(540,089)
48,098
(504,965)
(456,867)
(110,510)
(541,165)
(651,675)
$
969,520
$
551,609
$
450,280
$
44,066
$
969,520
$
551,609
$
450,280
$
44,066
Debt issuance / transfer of debt proceeds
Net additions to fixed assets
Net (increase) decrease in other assets
$
(381,848)
(1,818,648)
(347,326)
(2,547,822)
(549,850)
(3,370,164)
(57,000)
(3,977,014)
(265,000)
(291,114)
(57,000)
(613,114)
(576,669)
(4,705,000)
(57,000)
(1,000,000)
(6,338,669)
(1,578,302)
11,810,139
(3,425,405)
9,846,741
(162,834)
10,231,837
(6,294,603)
10,069,003
10,231,837
$
6,421,336
$
10,069,003
$
3,774,400
Note: Financial statements encompass all assumptions listed on Utility Fund Long Term Plan
EXHIBIT D-17
TOWN OF ADDISON
STORMWATER ENTERPRISE FUND
Actual
2014-15
INCOME STATEMENT
Operating revenues:
Drainage fees
Other
$
Operating expenses:
Stormwater operations
1,729,899
Budget
2015-16
$
Estimated
2015-16
1,729,899
1,773,900
1,773,900
584,258
584,258
552,289
552,289
552,289
552,289
615,368
615,368
1,145,641
1,221,611
1,247,711
1,234,632
39,242
(266,218)
(226,976)
$
5,000
(274,716)
(269,716)
1,800,000
1,800,000
Budget
2016-17
$
1,850,000
60,903
(274,716)
(213,813)
$
918,665
$
951,895
$
$
918,665
$
951,895
$
1,033,898
1,850,000
67,700
(269,266)
(201,566)
$
1,033,066
$
1,033,066
Other
(265,000)
(109,026)
(4,992)
(379,018)
539,647
9,036,498
$
9,576,145
$
-
(270,000)
(5,070,000)
(5,340,000)
(270,000)
(1,858,400)
(2,128,400)
(275,000)
(3,292,500)
(500,000)
(4,067,500)
(4,388,105)
8,900,014
(1,094,502)
9,576,145
(3,034,434)
8,481,643
4,511,909
$
8,481,643
$
5,447,209
Note: Financial statements encompass all assumptions listed on Stormwater Fund Long Term Plan
(i.e. compensation and insurance adjustments, proposed Modified Levels of Service, etc.).
EXHIBIT D-18
TOWN OF ADDISON
SELF-FUNDED SPECIAL PROJECT FUND
Actual
2014-15
BEGINNING BALANCE
$
Budget
2015-16
-
$
Estimated
2015-16
-
$
Budget
2016-17
-
$
1,000,000
REVENUES:
TOTAL REVENUES
-
-
-
-
-
-
-
1,000,000
EXPENDITURES:
TOTAL EXPENDITURES
-
-
995,500
-
-
-
-
1,000,000
1,000,000
-
-
-
1,000,000
Transfer In from General Fund Savings
ENDING BALANCE
$
-
$
-
$
1,000,000
995,500
(995,500)
$
4,500
Note: Fund established in FY2016.
Note: The balance in this fund is restricted for specific projects, with a one-year timeframe. For a detailed listing by project, see Exhibit H.
EXHIBIT D-19
TOWN OF ADDISON
ADDISON GROVE ESCROW FUND
Actual
2014-15
BEGINNING BALANCE
$
Budget
2015-16
-
$
Estimated
2015-16
-
$
Budget
2016-17
-
$
-
REVENUES:
TOTAL REVENUES
-
-
-
-
-
-
-
-
EXPENDITURES:
Incentive Payments
TOTAL EXPENDITURES
-
-
-
-
Transfer in from Utility Fund
Transfer in from Infrastructure Fund
Transfer in from General Fund
Transfer in from Stormwater Fund
Net other Financing Sources (Uses):
-
-
-
1,000,000
500,000
500,000
500,000
2,500,000
-
-
-
2,500,000
ENDING BALANCE
$
-
$
-
$
-
$
2,500,000
Note: The balance in this fund is restricted for specific incentive projects.
EXHIBIT D-20
TOWN OF ADDISON
INFORMATION TECHNOLOGY INTERNAL SERVICE FUND
Actual
2014-15
INCOME STATEMENT
Operating revenues:
Department contributions and other
$
Operating expenses:
Maintenance and Materials
Capital Outlay
Total Operating expenses (excluding depreciation)
Net operating income (excluding deprecation)
Net non-operating revenues
$
750,000
750,000
Budget
2015-16
$
750,000
750,000
Estimated
2015-16
$
750,000
750,000
Budget
2016-17
$
750,000
750,000
337
22,809
23,146
3,500
3,500
3,931
3,931
3,126
3,126
726,854
746,500
746,069
746,874
11,335
11,335
6,250
6,250
5,300
5,300
21,800
21,800
738,189
$
752,750
$
751,369
$
768,674
Acquisition of capital hardware/software:
(1,644,659)
(1,644,659)
(1,636,100)
(1,636,100)
Beginning working capital
(906,470)
3,236,584
(883,350)
1,722,304
Ending working capital
738,189
$
2,330,113
752,750
$
838,954
751,369
768,674
(616,100)
(616,100)
(1,514,000)
(1,514,000)
135,269
2,330,113
$
2,465,382
(745,326)
2,465,382
$
1,720,056
EXHIBIT D-21
TOWN OF ADDISON
CAPITAL REPLACEMENT INTERNAL SERVICE FUND
Actual
2014-15
INCOME STATEMENT
Operating revenues:
Department contributions
$
Operating expenses:
Maintenance and Materials
Capital Outlay
Total Operating Expenses
800,000
800,000
Budget
2015-16
$
800,000
800,000
Estimated
2015-16
$
800,000
800,000
Budget
2016-17
$
800,000
800,000
5,504
5,504
4,000
4,000
4,000
4,000
4,000
4,000
794,496
796,000
796,000
796,000
Proceeds from sale of assets
Net non-operating revenues
14,275
12,000
26,275
30,000
20,000
50,000
22,000
20,000
42,000
30,000
20,000
50,000
820,771
846,000
838,000
846,000
820,771
846,000
838,000
846,000
Net Income (excluding depreciation)
Acquisition of capital equipment:
Beginning working capital
Ending working capital
$
(985,752)
(985,752)
(1,160,500)
(1,160,500)
(1,160,500)
(1,160,500)
(1,929,000)
(1,929,000)
(164,981)
3,736,048
(314,500)
3,590,228
(322,500)
3,571,066
(1,083,000)
3,248,566
3,571,066
$
3,275,728
$
3,248,566
$
2,165,566
EXHIBIT D-22
TOWN OF ADDISON
GENERAL FUND LONG-TERM FINANCIAL PLAN
Actual
2014-15
BEGINNING BALANCE
Year 1
Projected
2017-18
Budget
2016-17
Year 2
Projected
2018-19
Year 3
Projected
2019-20
Year 4
Projected
2020-21
15,506,011 $
11,601,861
$11,646,301
$11,147,999
$10,037,153
$9,989,023
$11,198,455
REVENUES:
Ad valorem taxes
Non-property taxes
Franchise fees
Service fees
Fines and penalties
Interest income
Rental income
Miscellaneous
TOTAL REVENUES
11,378,975
14,215,555
2,828,420
1,011,223
1,507,653
725,189
69,431
236,667
118,907
32,092,020
13,552,484
14,241,649
2,765,094
894,401
1,418,705
719,000
42,000
197,000
251,317
34,081,650
14,856,615
14,660,000
2,870,300
845,800
1,493,100
675,000
70,000
175,000
70,000
$35,715,815
$15,109,080
14,953,200
2,927,710
862,720
1,522,960
688,500
71,400
178,500
71,400
$36,385,470
$16,870,866
15,252,260
2,986,260
879,970
1,553,420
702,270
72,830
182,070
72,830
$38,572,776
$18,353,385
15,557,310
3,045,990
897,570
1,584,490
716,320
74,290
185,710
74,290
$40,489,355
$18,851,653
15,868,460
3,106,910
915,520
1,616,180
730,650
75,780
189,420
75,780
$41,430,353
EXPENDITURES:
Operating:
Personnel services
Supplies
Maintenance
Capital replacement/lease
Capital outlay
Fund transfer out
TOTAL EXPENDITURES
20,876,689
1,144,129
2,467,116
5,840,240
1,402,065
250,931
4,015,000
35,996,170
20,198,886
1,394,420
3,255,119
6,186,615
1,415,170
245,000
1,342,000
34,037,210
21,946,571
1,384,837
3,540,207
7,069,740
1,347,262
500
925,000
36,214,117
22,604,970
1,426,380
3,668,410
7,281,830
1,387,680
515
1,126,530
37,496,315
23,283,120
1,469,170
3,801,120
7,500,280
1,429,310
530
1,137,376
38,620,906
23,981,610
1,513,250
3,938,490
7,725,290
1,472,190
546
648,547
39,279,923
24,701,060
1,558,650
4,080,680
7,957,050
1,516,360
562
15,000
39,829,362
11,601,861 $
11,646,301
$11,147,999
$10,037,153
$9,989,023
$11,198,455
$12,799,446
ENDING FUND BALANCE
$
Estimated
2015-16
$
Ending balance as a % of expenditures
Debt issuance variable:
Beginning debt outstanding
Principal retired
Principal issued
Ending debt outstanding
Tax rate variables:
Taxable values (thousands)
Maintenance & Operation - General Fund
Capital Improv. - Infrastructure Invest. Fund
Maintenance & Operation - Econ. Dev. Fund
Debt service fund rate
Total
MLS Requests reflected above:
Human Resources
Council Projects
Fire
Parks
Total MLS Requests
36.3%
$
$
$
$
$
$
$
35.6%
87,007,001
4,833,152
$82,173,849
FY15
3,805,581
0.311000
0.006200
0.026500
0.218100
0.561800
31.2%
$82,173,849
9,456,370
$72,717,479
$
$
$
$
$
$
FY16
4,036,724
0.345750
0.006201
0.024773
0.202426
0.579150
28.2%
72,717,479
4,938,331
67,779,148
$
$
$
$
$
$
$
$
FY17
4,302,983
0.351573
0.005926
0.023716
0.182916
0.564131
27.2%
$67,779,148
4,209,148
$63,570,000
$
$
$
$
$
$
736,945 $
59,321
67,039
63,242
926,547 $
FY18
4,389,042
0.349517
0.005783
0.023131
0.185700
0.564131
29.0%
$63,570,000
4,280,000
$59,290,000
$
$
$
$
$
$
759,053 $
22,000
60,123
90,624
84,258
1,016,058 $
FY19
4,476,823
0.382584
0.005669
0.022677
0.153200
0.564131
32.1%
$59,290,000
3,425,000
$55,865,000
$
$
$
$
$
$
781,825 $
22,660
61,926
93,247
86,556
1,046,214 $
FY20
4,566,360
0.408040
0.005558
0.022233
0.128300
0.564131
$55,865,000
3,555,000
$52,310,000
$
$
$
$
$
$
FY21
4,657,687
0.410885
0.005449
0.021797
0.126000
0.564131
805,280 $
23,340
63,784
95,949
88,922
1,077,274 $
829,438
24,040
65,697
98,731
91,359
1,109,265
ASSUMPTIONS:
1) Portions of the property tax are committed to economic development and infrastructure investment, at $1M and $250k, respectively; portions are lieu of transfer from General fund.
2) Property tax base shows an increase in value by 6.5% from FY16-17, and two percent from FY18 to FY21.
3) Sales Tax revenues projected to increase 2.75% from FY16-FY17, and two percent in years FY18 to FY21.
4) Ad Valorem Property tax revenues in projected out years reflects the decline in debt service obligations.
5) Future year revenues other than Property tax are projected to rise two percent annually.
6) Sales tax incentive funding is projected to grow by three percent annually.
7) Future year expenditures show a three percent increase to adjust for inflation and rise in cost of doing business.
8) Addison Grove Incentive Fund is accomplished in four annual transfers, beginning in FY17, of $500k, $750k, $750k, and $250k to Addison Grove Incentive Escrow Fund.
9) Personnel Services includes a five percent increase to adjust for insurance costs, plus $148k in plan adjustments to account for anticipated additional five percent increase for FY17.
10) Personnel Services includes 398k for up to five percent merit compensation adjustments for FY17.
Exhibit E-1
TOWN OF ADDISON
HOTEL SPECIAL REVENUE FUND LONG-TERM FINANCIAL PLAN
Actual
2014-15
BEGINNING FUND BALANCE
$
1,194,674
Estimated
2015-16
$
2,040,729
Year 1
Projected
2017-18
Budget
2016-17
$
3,644,081
$
4,172,488
Year 2
Projected
2018-19
$
5,135,027
Year 3
Projected
2019-20
$
6,768,357
Year 4
Projected
2020-21
$
8,358,993
REVENUES:
Hotel/motel occupancy taxes (HOT)
Proceeds from special events
Conference Centre rental
Visit Addison! Rental
Theatre Rental
Interest and other
TOTAL REVENUES
5,512,956
1,014,650
638,045
183,429
143,248
19,719
7,512,047
5,884,000
1,893,435
668,000
80,000
6,025
8,531,460
6,000,000
2,691,200
678,000
111,240
17,000
9,497,440
6,120,000
2,745,024
691,560
113,465
17,340
9,687,389
6,242,400
2,799,924
705,391
115,734
17,687
9,881,137
6,367,248
2,855,923
719,499
118,049
18,041
10,078,759
6,494,593
2,913,041
733,889
120,410
18,401
10,280,334
EXPENDITURES:
Visit Addison
Conference Centre
Marketing
Special Events
Addison Theatre Centre
Performing Arts
General Hotel Operations
Transfers to other funds/debt service
TOTAL EXPENDITURES
765,288
959,140
872,579
2,279,532
542,067
36,304
1,211,082
6,665,992
200,000
1,145,906
946,981
2,695,657
581,594
100,845
1,257,124
6,928,108
1,453,463
1,092,730
4,145,843
400,384
447,000
170,113
1,259,500
8,969,033
1,054,270
1,124,660
4,268,860
412,020
420,410
175,170
1,269,460
8,724,850
1,085,910
1,157,560
4,395,570
424,017
434,220
180,390
570,139
8,247,806
1,118,490
1,191,450
4,526,080
436,372
448,450
185,740
581,542
8,488,124
1,152,040
1,226,350
4,660,500
449,095
463,100
191,270
593,173
8,735,528
ENDING FUND BALANCE
Ending balance as % of operating expenditures
MLS Requests reflected above:
Marketing
Special Events
Conference Centre
Total MLS Requests
$
2,040,729
30.6%
$
3,644,081
$
52.6%
4,172,488
$
46.5%
$
$
75,525
18,539
462,290
556,354
5,135,027
$
58.9%
$
$
77,791
19,095
23,422
120,308
6,768,357
$
82.1%
$
$
80,124
19,668
24,125
123,917
8,358,993
$
98.5%
$
$
82,528
20,258
24,849
127,635
9,903,799
113.4%
$
$
85,004
20,866
25,594
131,464
ASSUMPTIONS:
1) Hotel occupancy tax for FY17 projected to increase 2% over estimated FY16 year end.
2) Revenues and Expenditure amounts for Special Events reflect a change in accounting method; as of FY16, expenses no longer netted against revenues.
3) All revenues projected to increase by two percent annually.
4) All expenditures projected to increase by three percent annually to adjust for inflation.
5) Conference Centre expenditures increase in FY17 due to significant building maintenance MLS.
6) Visit Addison has been eliminated, but FY16 includes estimated payout for remainder of lease.
7) Personnel Services includes a five percent increase to adjust for insurance costs for FY2017.
8) Personnel Services includes $22k for up to five percent merit compensation adjustments.
Exhibit E-2
TOWN OF ADDISON
AIRPORT FUND LONG-TERM FINANCIAL PLAN
BEGINNING WORKING CAPITAL
NET INCOME
Operating revenues:
Operating grants
Fuel flowage fees
Rental
User fees
Other
Operating expenses:
Town - Personnel services
Town - Supplies
Town - Maintenance
Town - Contractual services
Grant - Operations and Maintenance
Operator - Operations and Maintenance
Operator - Service Contract
Non-Operating revenues (expenses):
Interest on debt, fiscal fees, and other
Capital Contribution
Net Non-Operating revenues (expenses)
Net additions to fixed assets (incl. capital
contributions from grants)
Other net additions to fixed assets
Increase in customer deposits
Bond proceeds
ENDING WORKING CAPITAL
Ending WC as a % of operating expenses
USES OF WORKING CAPITAL
Grant Eligible Projects:
Taxiway Alpha
General
Taxiway Bravo
Capital (Town's Share):
Taxiway Alpha
Taxiway Bravo
General
Taxiway Mike
Taxiway Quebec
Taxiway Romeo
Taxiway Sierra
Taxiway Tango
Taxiway Uniform
Taxiway Victor
Total
Actuals
2014-15
Estimated
2015-16
Budget
2016-17
Year 1
Projected
2017-18
Year 2
Projected
2018-19
Year 3
Projected
2019-20
Year 4
Projected
2020-21
$ 2,211,678
$ 2,984,227
$ 3,323,963
$ 2,269,040
$ 2,797,150
$ 3,323,640
$ 3,850,440
$
$
$
$5,500,158
$50,000
$951,028
$4,411,682
$173,862
5,586,572
$50,000
$970,048
$4,477,858
$176,470
$5,674,376
$50,000
$989,449
$4,545,025
$179,117
5,763,591
$50,000
$1,009,238
$4,613,201
$181,804
5,854,243
407,013
42,000
116,150
188,455
100,000
3,153,838
386,792
4,394,248
1,105,910
419,220
43,260
119,630
194,110
100,000
3,189,088
427,582
4,492,890
1,093,682
431,800
44,560
123,220
199,930
100,000
3,236,924
439,484
4,575,918
1,098,458
444,750
45,900
126,920
205,930
100,000
3,285,478
451,727
4,660,705
1,102,886
458,090
47,280
130,730
212,110
100,000
3,334,760
451,727
4,734,697
1,119,546
829,044
4,248,056
61,379
512,888
5,651,367
318,036
58,326
88,270
560,906
100,000
2,453,851
398,061
3,977,450
1,673,917
50,000
817,368
4,375,231
146,099
5,388,698
328,437
41,000
112,910
172,990
100,000
3,192,434
403,000
4,350,771
1,037,927
13,588
(137,468)
(123,880)
10,000
(132,691)
(122,691)
1,550,038
915,236
50,000
932,380
4,346,485
171,293
24,500
(127,016)
(102,516)
25,240
(120,816)
(95,576)
1,003,394
26,000
(112,966)
(86,966)
998,106
26,780
(102,866)
(76,086)
1,011,492
27,580
(94,766)
(67,186)
1,026,800
1,052,360
(445,000)
(455,000)
(460,000)
(470,000)
(485,000)
(500,000)
(125,000)
(388,195)
55,706
(777,489)
(60,500)
(60,000)
(575,500)
(100,966)
(1,497,351)
(2,058,317)
(470,000)
(485,000)
(500,000)
(125,000)
$ 2,984,227
$ 3,323,963
75.0%
76.4%
Estimated
2015-16
$
$ 2,269,040
$ 2,797,145
51.6%
$ 3,323,642
62.3%
Budget
2016-17
72.6%
Projected
2017-18
100.9%
Projected
2019-20
1,545
35,236
64,185
-
-
60,500
60,000
120,500
292,000
81,000
536,464
50,000
113,000
127,582
126,585
16,800
153,920
$ 1,598,317
-
-
$
$ 4,777,800
82.6%
Projected
2018-19
-
$
$ 3,850,440
$
Projected
2020-21
-
$
-
ASSUMPTIONS:
1) Revenues projected to increase approximately 2 percent annually for future years.
2) Future year expenditures show a 3 percent increase to adjust for inflation.
4) Personnel Services includes approximately $6k for up to five percent merit compensation adjustments based on proposed budget for FY2017.
Exhibit E-3
TOWN OF ADDISON
UTILITY FUND LONG-TERM FINANCIAL PLAN
Actual
2014-15
$
NET INCOME
Operating revenues:
Water sales
Sewer charges
Tap fees
Penalties
Other income
Operating expenses:
Water purchases
Wastewater treatment
Utility operations
Interest on bonded debt and fiscal fees
Net retirement of long-term debt
Debt issuance / transfer of debt proceeds
Net increase (decrease) to other assets
Transfer to Addison Escrow Fund
$
11,810,139
Estimated
2015-16
$
Year 1
Projected
2017-18
Budget
2016-17
10,231,837
$
10,069,003
$
Year 2
Projected
2018-19
3,774,400
$
Year 3
Projected
2019-20
2,993,793
$
Year 4
Projected
2020-21
2,031,615
$
833,466
5,678,134
4,436,230
12,580
64,949
1,200
10,193,093
5,576,551
4,124,431
10,280
80,000
20,000
9,811,261
6,040,000
4,590,000
7,000
75,000
15,000
10,727,000
6,221,200
4,727,700
7,210
77,250
15,450
11,048,810
6,407,836
4,869,531
7,426
79,568
15,914
11,380,274
6,600,071
5,015,617
7,649
81,955
16,391
11,721,683
6,798,073
5,166,085
7,879
84,413
16,883
12,073,333
3,223,750
2,496,828
3,046,128
8,766,706
1,426,387
3,159,257
2,634,648
3,299,098
9,093,003
718,258
3,700,000
2,590,000
3,852,846
10,142,846
584,154
3,959,000
2,719,500
3,968,431
10,646,931
401,879
4,236,130
2,855,475
4,087,484
11,179,089
201,185
4,532,659
2,998,249
4,210,108
11,741,016
(19,334)
4,849,945
3,148,161
4,336,412
12,334,518
(261,185)
48,098
(504,965)
(456,867)
18,000
(285,978)
(267,978)
(46,400)
(493,689)
(540,089)
(47,792)
(476,842)
(524,634)
(49,226)
(462,138)
(511,363)
(50,703)
(446,113)
(496,815)
(52,224)
(425,488)
(477,711)
969,520
450,280
44,066
(122,755)
(310,178)
(516,149)
(738,896)
(381,848)
(1,818,648)
(347,326)
(265,000)
(291,114)
(57,000)
(600,852)
(57,000)
(595,000)
(57,000)
(625,000)
(57,000)
(645,000)
(57,000)
(2,547,822)
(613,114)
(657,852)
(652,000)
(682,000)
(702,000)
10,231,837
$
116.7%
10,069,003
(576,669)
(4,705,000)
(57,000)
(1,000,000)
(6,338,669)
$
110.7%
3,774,400
$
37.2%
2,993,793
$
28.1%
2,031,615
$
18.2%
833,466
$
7.1%
(607,430)
-4.9%
USES OF WORKING CAPITAL:
Estimated
2015-16
Equipment Replacement: Mtr Veh's & CPU hardware
Elevated Storage Tank
Engineering/Architectural Services - Water
Utility Plant - Water
Water Mains/Hydrants
Utility Plant - Sewer (Lift Station & Pump rehab/repair)
Sanitary Sewers
TOTAL
-
$
81,800
136,910
72,404
291,114
$
Budget
2016-17
1,000,000
70,000
125,000
2,770,000
500,000
865,000
375,000
5,705,000
Projected
2017-18
$
-
Projected
2018-19
Projected
2019-20
Projected
2020-21
-
-
-
-
-
-
-
-
$
-
$
-
$
-
ASSUMPTIONS:
1) Revenues and expenditures are based on NextGen utility rate model estimates.
3) Personnel Services includes compensation adjustments for FY2017.
EXHIBIT E-4
TOWN OF ADDISON
STORMWATER FUND LONG-TERM FINANCIAL PLAN
Actual
2014-15
$
9,036,498
Estimated
2015-16
$
9,576,145
Year 1
Projected
2017-18
Budget
2016-17
$
8,481,643
$
Year 2
Projected
2018-19
5,447,210
$
Year 3
Projected
2019-20
6,194,490
$
Year 4
Projected
2020-21
7,216,980
$
8,323,680
NET INCOME
Operating revenues:
Drainage Fees
1,729,899
1,729,899
1,800,000
1,800,000
1,850,000
1,850,000
1,872,450
1,872,450
2,168,100
2,168,100
2,266,650
2,266,650
2,365,200
2,365,200
Operating expenses:
Personnel services
Supplies
Maintenance
178,069
2,331
136,870
266,987
584,258
1,145,641
85,108
15,344
225,329
226,507
552,289
1,247,711
122,741
12,700
237,200
196,727
615,368
1,234,632
126,420
13,080
244,320
202,630
586,450
1,286,000
130,210
13,470
251,650
208,710
604,040
1,564,060
134,120
13,870
259,200
214,970
622,160
1,644,490
138,140
14,290
266,980
221,420
640,830
1,724,370
Interest on debt, fiscal fees, and other
39,242
(266,218)
(226,976)
Other
$
60,903
(274,716)
(213,813)
67,700
(269,266)
(201,566)
918,665
1,033,898
1,033,066
(265,000)
(109,026)
(4,992)
(379,018)
(270,000)
(1,858,400)
(2,128,400)
(275,000)
(3,292,500)
(500,000)
(4,067,500)
9,576,145
$
1639.0%
8,481,643
$
1535.7%
5,447,209
5,000
(263,716)
(258,716)
5,000
(256,566)
(251,566)
1,027,284
1,312,494
(280,000)
(280,000)
$
885.2%
6,194,494
5,000
(247,791)
(242,791)
1,401,699
(290,000)
(290,000)
$
1056.3%
7,216,984
5,000
(237,266)
(232,266)
1,492,104
(295,000)
(295,000)
$
1194.8%
8,323,679
(305,000)
(305,000)
$
1337.9%
9,510,784
1484.1%
USES OF WORKING CAPITAL:
Estimated
2015-16
Les Lacs/Winnwood Ponds
Winwood Pond
NW Drainage Channel Improvement
Misc. Bridge & Channel Repair
Belt Line Drainage Improvements
Detailed Masterplan Study/Evaluation
Sherlock Basin Improvement
Hutton Branch Basin Improvements
Midway Road Revitalization Storm Water Improvements
Vitruvian Pond Maintenance (Dredging)
Master Plan Basin Improvement
Misc. Drainage Projects
Totals
600,000
688,400
500,000
70,000
$
1,858,400
Year 1
Projected
2017-18
Budget
2016-17
200,000
900,000
150,000
87,500
100,000
600,000
800,000
300,000
155,000
500,000
$
3,792,500
Year 2
Projected
2018-19
-
$
-
Year 3
Projected
2019-20
-
$
-
Year 4
Projected
2020-21
-
$
-
$
-
ASSUMPTIONS:
1) Revenues projected based on Council-adopted fee schedule.
2) Future year expenditures a three percent increase to adjust for inflation.
4) Personnel Services includes compensation adjustments based on proposed budget for FY2017.
EXHIBIT E-5
TOWN OF ADDISON
Detailed Statement of Modified Levels of Service
FY17
Requested
Department / Request
City Secretary
Records Destruction and Scanning Project*
Department Total
$
-
FY17 One Time
Request
City Manager
Proposed
$
$
-
City
Manager
Proposed
FTEs
Council
Considered
17 Budget
-
-
City Manager's Office
$
Unfunded
FTEs
-
-
Department Total
-
-
-
-
-
-
Department Total
-
-
-
-
-
-
Department Total
12,760
5,000
24,000
41,760
9,700
5,000
24,000
38,700
-
-
-
-
General Services
Promotion/Reclassification Level 30 to Level 32
Implement the FY15 Facilities Assessment Program
Department Total
11,122
2,817
13,939
-
-
-
-
-
Department Total
35,593
35,593
-
-
-
-
0.3
0.3
Human Resources
Compensation Study and Implementation
Certification Pay Study and Implementation
HR Manager
HR Assistant
Health Insurance Increase
Department Total
398,900
190,000
95,474
54,994
148,045
887,413
15,000
15,000
148,045
178,045
398,900
190,000
148,045
736,945
-
-
1.0
1.0
2.0
Department Total
-
-
-
-
-
-
PCI (Payment Card Industry) Gap Assessment
Tower Feasibility Study
Department Total
30,000
30,000
60,000
30,000
30,000
60,000
-
-
-
-
Police
Assessment - Security Upgrades to Lobby Area and Fencing - North Side*
Cellular Phones (Smart)
Criminal Investigations Technology Upgrade (tied to Cell Phone MLS)
Additional OIC Stipend
Additional Overtime for Jail
Department Total
15,600
20,250
10,800
100,000
146,650
17,500
17,500
-
-
-
-
Fire
Fire Inspector 0.7 FTE
Regional Fire Training Facility
Replacement - Emergency Back Up Generator for Fire Station #2
Captain - EMS 1 FTE
Emergency Management Specialist
Apparatus Cell Phones - Replacing five phones
Department Total
59,321
431,858
60,000
136,031
80,037
3,900
771,147
424,410
60,000
484,410
59,321
59,321
0.7
0.7
-
1.0
1.0
2.0
Planner 1 FTE
Zoning and Subdivision Code Rewrite
Permit Technician 1 FTE
Repurposed - 0.3 FTE PT Building Inspector
Building Inspector IVR
Citizen Engagement Study
Department Total
67,039
150,000
76,998
17,006
55,000
40,000
406,043
20,000
50,000
40,000
120,000
67,039
67,039
1.0
1.0
-
1.0
0.3
1.3
Streets
ADA Transition Plan*
Crew Leader 1 FTE
Joint seal and crack seal maintenance
Street panel replacement, asphalt overlays, sidewalk panel replacement
Street rental increase - equipment
Department Total
79,218
150,000
200,000
20,000
449,218
3,000
150,000
153,000
-
-
-
1.0
1.0
Parks
Fountain Tech/Electrician 1 FTE
GIS Inventory and Assessment of Town's Parks*
New Vehicle - Hot Shot Crew
Repair Celestial Face Plates*
Parks Crew - Addition of 3 FTEs
Maintenance Trailer
Department Total
63,242
50,125
311,668
6,000
431,035
63,242
63,242
1.0
1.0
-
3.0
3.0
Council Special Projects
Dog Park*
Finance
Dues/Training/Travel
Door Replacement
Deck Replacement
Municipal Court
Deputy Court Clerk 0.3 FTE
Combined Services
Asset Management Plan*
10,000
44,456
38,500
99,195
6,000
188,151
* Funded in 2016
EXHIBIT F1
TOWN OF ADDISON
Detailed Statement of Modified Levels of Service
FY17
Requested
Department / Request
Recreation
Group X Instructor Funding
AAC Major Facility Upgrade Items
Maintenance Items
Convert 2 Racquetball Courts
Remove Fitness Area Control Desk
New Second Floor Office
Department Total
Total General Fund
$
Department Total
Special Events
ATV Gator*
Increase funding for Taste Addison Event
Increase funing for Addison Summer Series Event
Automated Tasty Buck Kiosks
Investigational work to determine leakage - Addison Circle Park
Department Total
Conference Centre
ACTC Market Study
Conference Centre Facility Major Maintenance Items
Replace Datronics sign*
Sales Consultant 1 FTE
Department Total
Performing Arts
Department Total
General Hotel Operations
MuniServices
Department Total
Total Hotel Fund
$
Airport
GIS (Geographical Information System) Analyst 0.3 FTE
Department Total
Total Airport Fund
$
-
-
926,547
2.7
$
$
$
$
-
-
-
9.6
75,000
75,000
75,525
75,525
1.0
1.0
-
-
18,539
327,500
11,000
72,122
8,000
437,161
327,500
11,000
72,122
8,000
418,622
18,539
18,539
-
-
-
50,000
626,350
22,740
699,090
50,000
320,500
370,500
438,000
24,290
462,290
1.0
1.0
-
-
-
-
-
-
-
-
10,000
10,000
10,000
10,000
-
-
-
-
556,354
2.0
-
-
31,000
31,000
0.3
0.3
-
-
31,000
0.3
-
-
31,000
31,000
0.3
0.3
-
3.0
1.0
4.0
31,000
0.3
-
4.0
15,000
31,000
46,000
0.3
0.3
-
1.0
1.0
46,000
1,590,901
0.3
5.7
-
1.0
14.6
1,336,776
$
31,000
372,864
145,777
6,167,315
874,122
$
$
-
$
38,000
38,000
$
99,777
15,000
31,000
145,777
$
$
2,254,906
Unfunded
FTEs
75,525
75,000
40,000
190,525
217,752
124,112
31,000
372,864
Stormwater
Stormwater Operator 1 FTE
Rental, Increase from $1,000
Department Total
Total Stormwater Fund
Total All Operating Funds
832,500
54,600
95,000
15,000
18,000
1,015,100
31,000
31,000
Utilities
Utilities Crew - 3 FTEs
Infrastructure Inspector 1 FTE
Department Total
Total Utility Fund
4,280,898
Council
Considered
17 Budget
City Manager
Proposed
23,000
832,500
54,600
95,000
15,000
18,000
1,038,100
Marketing
Marketing Specialist 1 FTE
Special Event Microsites
OK Marketing Campaign
City
Manager
Proposed
FTEs
FY17 One Time
Request
38,000
$
$
$
3,167,028
$
$
$
$
$
$
$
* Funded in 2016
EXHIBIT F2
TOWN OF ADDISON
AIRPORT OPERATOR OPERATION AND MAINTENANCE BUDGET
City Council Adopted FY2017 Annual Budget
URS/SAMI OPERATING EXPENSES:
Actual
2014-15
Capital maintenance
Grounds
Gates & fencing
Trash and Dumpsters
Buildings
Lights & markings
Pavements
Hangars
Fuel farm
Insurance
$
Equipment maintenance & materials
Equipment & tool
Vehicle
Communications
Lubricants
Shop supplies
Small tools
Uniforms
Fuels
General & administration
AATI Settlement
Customs expense
Office supplies
Rentals & leases
Telephone
Professional fees
Airport Management Office Rent
Dues & subscriptions
Entertainment
Bad Debt Expense (Charge-offs)
Travel
Office pool (Aecom Direct Expense)
Banking and credit card fees
Postage & shipping
Printing
Information technology
Meetings & presentations
Marketing & promotional
Personnel services
Salaries
Taxes & benefits
Capital equipment rentals & lease
Professional services
Electrical
Electric utility
Gas utility
Water & sewer utility
Stormwater Assessment
Total O&M Budget+SAMI+URS
358
25,068
4,794
7,463
16,582
285,058
34,247
89,251
99,745
562,565
Budget
2015-16
$
$
50,000
5,000
6,133
40,000
30,000
280,000
30,000
52,150
103,915
597,198
Budget
2016-17
$
58,700
14,100
11,760
31,900
64,000
109,802
23,500
55,290
122,350
491,402
29,096
3,610
1,696
1,686
36,088
30,000
8,500
4,200
3,000
45,700
22,000
4,000
2,000
3,000
31,000
36,500
6,500
4,200
3,600
50,800
10,417
47,917
9,594
5,233
7,940
56,212
1,110
15,583
679
50,265
11,049
39,854
30,579
1,887
2,110
32,794
37,632
26,716
387,571
39,700
14,600
5,340
9,600
75,000
85,000
13,765
2,500
25,700
40,850
37,831
2,100
9,780
122,890
35,300
18,800
538,756
62,500
47,000
12,100
9,000
6,413
55,000
80,000
13,515
2,200
24,000
40,850
37,000
2,100
12,500
87,740
10,000
18,800
520,718
62,500
48,000
15,200
5,340
14,393
60,300
81,600
17,350
3,500
30,300
41,667
35,760
2,100
12,060
64,460
38,340
28,700
561,570
899,337
483,059
1,382,396
1,014,538
591,773
1,606,311
1,011,000
593,858
1,604,858
1,026,608
614,000
1,640,608
185,342
134,695
18,133
16,450
54,806
409,426
181,500
147,440
148,775
10,895
21,878
52,592
381,580
46,823
(37,487)
6,238
9,553
33,028
58,155
$
58,700
6,600
10,680
44,100
40,000
61,800
34,500
41,290
106,885
404,555
Estimated
2015-16
2,426,776
$
3,004,748
130,000
15,000
23,000
50,000
399,500
$
3,153,274
$
3,125,960
EXHIBIT G
TOWN OF ADDISON
CAPITAL PROJECTS SUMMARY
Life to Date
Expenditures
Capital Projects Funds (Bond Funded)
Streets:
Midway Road Design & Rehabilitation
Addison Road Rehabilitation
Vitruvian Phase 4 & 5
Belt Line Road
Parks:
Pedestrian Connectivity (Beltway/Proton)
Pedestrian Connectivity (Quorum)
Public Safety:
Public Safety Radio Replacement
Joint Dispatch Project
Information Technology:
Wireless network improvements
General:
Land Purchase
Capital Projects Funds Subtotal
Airport Fund
Grant Eligible Projects
Taxiway Alpha
General
Taxiway Bravo
Airport Development/Redevelopment Projects (non-grant eligible)
Taxiway Alpha
Taxiway Bravo
General
Taxiway Mike
Taxiway Quebec
Taxiway Romeo
Taxiway Sierra
Taxiway Tango
Taxiway Uniform
Airport Fund Subtotal
Infrastructure Investment Fund
City Wide Streets and Sidewalk Evaluation
Surveyor Railroad Crossing Improvements
Illuminated Street Name Sign Replacement
Les Lacs Park and Town Park Playground Structures
Celestial Park Trail Replacement
Streets and Sidewalk Improvements
Airport ILS
Beltline Road Phase II Design
ADA Transition Plan
Pavement Mgmt Program
Infrastructure Investment Fund Subtotal
Utility Fund
Vehicle Replacement & CPU Hardware
Utility Plant - Water
Elevated Storage Tank
Water System Evaluation and Strategic Plan
Facilities Rehab/Repair (Building Envelope)
Pump Rehabs/Replacement
Surveyor Ground Storage Tank Rehab. and Piping Improv. (Construction)*
Celestial Ground Storage Tank Rehabilitation (Design)
$
Budget
2015-16
1,055,000
1,508,112
556,142
9,878,196
$
Estimated
2015-16
1,700,000
568,619
8,176,791
16,350,110
$
Budget
2016-17
90,283
841,325
268,393
4,675,978
$
1,653,250
766,361
5,204,847
12,356,624
2,154,556
877,606
1,000,000
338,723
1,938,162
9,000
295,444
172,394
3,451,104
617,386
400,000
-
132,230
518,896
412,614
15,600
-
-
-
20,113,702
3,000,000
31,534,243
7,955,371
21,380,430
-
-
-
1,545
35,236
64,185
-
60,500
61,500
122,000
60,500
60,000
120,500
292,000
81,000
536,464
50,000
113,000
127,582
126,585
16,800
153,920
1,598,317
123,849
199,394
132,256
7,125
462,624
30,000
50,000
325,000
150,000
200,000
200,000
955,000
15,003
162,500
199,394
9,500
386,397
200,000
162,500
150,606
250,000
250,000
300,000
500,000
250,000
2,063,106
-
600,000
-
1,000,000
70,000
210,649
466,501
-
57,750
1,232,750
-
81,800
136,910
-
30,000
100,000
2,500,000
140,000
EXHIBIT H1
TOWN OF ADDISON
Life to Date
Expenditures
Water Mains/Hydrants
Water Line Improvements
Engineering/Architectural Services
Utility Plant - Sewer (Lift Station & Pump rehab/repair)
Engineering/Architectural Services - Sewer
Facilities Rehab/Repair (Building Envelope)
Kellway Lift Station Emerg. Generator Transfer Switch Replace.
Equipment Storage Building (Kellway Lift Station) (Design)
Equipment Storage Building (Kellway Lift Station) (Construction)*
Sanitary Sewers
Wastewater Line Rehabilitation/Replacement
Engineering/Architectural Services
Master Planning
Utility Fund Subtotal
Storm Water Fund
Les Lacs Pond
Water Well
Transfer Piping System
Winnwood Pond
NW Drainage Channel Improvements
Misc. Bridge & Channel Repair
Belt Line Drainage Improvements
Detailed Masterplan Study/Evaluation
Mary Kay/Keller Springs Basin Improvements
Sherlock Basin Improvements
Master Plan Basin Improvement
Misc. Drainage Projects
Storm Water Fund Subtotal
Total Capital Projects
$
Budget
2015-16
Estimated
2015-16
Budget
2016-17
-
227,784
-
-
500,000
125,000
146,889
-
25,000
-
72,404
-
40,000
200,000
75,000
550,000
824,039
756,330
70,550
400,000
3,370,164
-
291,114
300,000
75,000
5,705,000
102,276
533,274
6,529
500,000
400,000
1,500,000
120,000
900,000
850,000
100,000
4,370,000
$ 40,351,407
300,000
300,000
688,400
500,000
200,000
900,000
150,000
87,500
100,000
600,000
70,000
1,858,400
10,611,782
800,000
300,000
155,000
500,000
3,792,500
$ 34,539,353
642,079
22,042,444
$
* Development of five-year Capital Improvement Plan (CIP) in process
EXHIBIT H2
TOWN OF ADDISON
Life to Date
Expenditures
Self-Funded Special Projects Fund
Asset Management
Dog Park
Fire Training Center
Backup Generator for Fire Department
Records Management
Operations Assessment
Celestial Face Plates
GIS Setup for Parks
Compensation Pay Study
Certification Pay Study
Ceramic Plate Bullet Proof Vests
Total Self-Funded Special Projects Fund
$
$
Budget
2015-16
-
$
$
Estimated
2015-16
-
$
$
Budget
2016-17
-
$
$
500,000
112,000
110,000
60,000
50,000
50,000
45,000
23,500
15,000
15,000
15,000
995,500
EXHIBIT H3
TOWN OF ADDISON
LONG-TERM DEBT OUTSTANDING AS OF 9/30/16
City Manager Proposed 2016-2017 Annual Budget
General
Obligation Debt
Self-Supporting
Debt
Combination Tax and Revenue Certificates of Obligation
Series of 2008 (Called in 2016 - Balance of noncallable bonds)
A series of 6,900 bonds at $5,000 each dated May 1, 2008. The bonds were issued for the
purpose of constructing improvements to (i) water, sewer, drainage, park and streets including
sidewalks, street lighting, landscaping, extensions and relocations, and acquisition of land and
rights-of-way; (ii) acquisition and construction of a water tower; (iii) acquisition of land for street
and other municipal purposes (collectively with items (i) and (ii)); and (iv) payment of professional
services of attorneys, financial advisors and other professionals in connection with the issuance
of the certificates. The bonds mature serially through 2033 with interest rates ranging from 4% to
5%. The bonds are callable at par value plus accrued interest on or after February 15, 2018 in
whole or in part in principal amounts of $5,000. Bonds and interest are payable from a
combination of Ad Valorem taxes and a limited pledge (not to exceed $1,000) of surplus net
revenues of the Town’s Utility Fund.
$
Ratings: Moody's "Aa1"; Standard & Poor's "AAA"
1,962,479
$
607,521
General Obligation Refunding Bonds
Series of 2011
A series of 1,778 bonds at $5,000 each dated October 15, 2011. The bonds were issued to
refund the Town's outstanding General Obligation Refunding Bonds, Series 2001, General
Obligation Refunding and Improvement Bonds, Series 2002, and Combination Tax and Revenue
Certificates of Obligation, Series 2003; and pay the costs of issuance associated with the sale of
the bonds. The bonds mature serially through 2018 with interest rates ranging from 2% to 3%.
Bonds and interest are payable from a combination of Ad Valorem taxes.
1,225,000
1,380,000
13,775,000
-
19,410,000
-
Series of 2012
A series of 2,967 bonds at $5,000 each dated August 15, 2012. The bonds were issued for the
purpose of (i) acquiring and installing radio and telecommunication equipment for Town public
safety operations, (ii) designing, acquiring, improving, constructing, and renovating water,
wastewater and street infrastructure improvements, including drainage infrastructure, within the
Vitruvian Park area of the Town; and (iii) paying professional services of attorneys, financial
advisors and other professionals in connection with the Project and the issuance of the
certificates. The bonds mature serially through 2032 with interest rates ranging from 1.5% to 4%.
The bonds are callable at par value plus accrued interest on or after February 15, 2022 in whole
or in part in principal amounts of $5,000. Bonds and interest are payable from a combination of
Ad Valorem taxes and a limited pledge (not to exceed $1,000) of surplus net revenues of the
Town’s Utility Fund.
General Obligation Refunding and Improvement Bonds
Series of 2012
A series of 4,518 bonds at $5,000 each dated August 15, 2012. The bonds were issued to fund
various public improvement projects up to $19,830,000 to include construction, engineering, and
other professional service; refund the Town’s outstanding General Obligation Bonds, Series 2004,
and General Obligation Refunding and Improvement Bonds, Series 2005; and pay the costs of
issuance associated with the sale of the bonds. The bonds mature serially through 2032 with
interest rates ranging from 2% to 5%. The bonds are callable at par plus accrued interest on or
after February 15, 2022 in whole or in part in principal amounts of $5,000. Bonds and interest are
payable from Ad Valorem taxes.
Ratings: Moody's "Aa1"; Standard & Poor's "AAA"; AMBAC Insured
General Obligation Bonds, Tax-Exempt
Exhibit I1
TOWN OF ADDISON
General
Obligation Debt
Self-Supporting
Debt
4,200,000
-
1,675,000
-
1,125,000
-
2,600,000
6,505,000
Series of 2013
A series of 933 bonds at $5,000 each dated July 15, 2013. The bonds will be used to provide
funds to (i) engineer, construct, improve, repairing, develop, extend and expand streets,
thoroughfares, bridges, interchanges, intersections, grade separations, sidewalks and other
public ways of the Town, included related streetscape improvements, public utility improvements,
storm drainage facilities and improvements, signalization and other traffic controls, street lighting
and the acquisition of land therefor; (ii) acquire and improve of land and insterest in land to
provide improvements, additions and access to the Addison Municipal Airport, and (iii) pay the
costs of issuing the Tax-Exempt Bonds.
General Obligation Bonds
Series 2013A (AMT)
A series of 375 bonds at $5,000 each dated July 15, 2013. The bonds will be used to provide
funds to: (i) acquire and improve of land and interests in land to provide improvements, additions
and access to the Addison Municipal Airport, and (ii) pay the costs of issuing the AMT bonds.
General Obligation Bonds
Taxable Series 2013B
A series of 250 bonds at $5,000 each dated July 15, 2013. The bonds, together with other
available Town funds, will be used to provide funds to: (i) acquire and improve of land and
interests in land to provide improvements, additions and access to the Addison Municipal Airport,
and (ii) pay the costs of issuing the Taxable Bonds.
Series 2013
A series of 2,037 bonds at $5,000 each dated July 15, 2013. The Certificates will be used for (i)
(a) designing, acquiring, improving, constructing and renovating facilities and infrastructure at the
Addision Municipal Airport and the acquisition and improvement of land and interests in land to
provide improvements, additions and access to the airport, (b) designing, acquiring, improving,
constructing, and renovating City drainage and stormwater infrastructure and facilities ((a) and (b)
together, the "Project") and (ii) paying professional services of attorneys, financial advisors and
other professionals in connection with the Project and the issuance of the Certificates.
General Obligation Bonds, Tax-Exempt
Series 2014
A series of 2,400 bonds at $5,000 each dated February 15, 2014. The bonds will be used to
provide funds for: (i) engineering, constructing, reconstructing, improving, repairing, developing,
extending and expanding streets, thoroughfares, bridges, interchanges, intersections, grade
separations, sidewalks and other public ways of the Town, including related streetscape
improvements, public utility improvements, storm drainage facilities and improvements,
signalization and other traffic controls, street lighting, and the acquisition of land thereof;
relocating utilities currently located in or adjacent to the Belt Line Road right-of-way and acquiring,
constructing, and developing Belt Lind Road roadway and streetscape improvements and the
acquisition of land thereof; and (iii) for the payment of the costs of issuing the Tax-Exempt Bonds.
The bonds mature serially through 2032 with interest rates
ranging from 3% to 3.625%.
11,355,000
-
Certificates of Obligation
Exhibit I2
TOWN OF ADDISON
General
Obligation Debt
Series 2014
A series of 1,513 bonds at $5,000 each dated February 15, 2014. The Certificates will be used
for (i) designing, constructing, installing, acquiring, and equipping additions, extensions and
improvements to the Town's water and wastewater system, and the acquisition of land and
interests in land for such projects, (the "Project") and (ii) paying professional services of
attorneys, financial advisors, and other professionals in connection with the Project and the
issuance of the Certificates. The bonds mature serially through 2013 with interest rates ranging
from 1% to 4%.
Ratings: Moody's "Aa1", Standard & Poor's "AAA"
Self-Supporting
Debt
-
7,190,000
-
1,460,000
Series 2014 (AMT)
A series of 429 bonds at $5,000 each dated February 15, 2014. The bonds will be used to: (i)
refund a portion of the Town’s outstanding Combination Tax and Revenue Certificates of
Obligation, Series 2004 for debt service savings, and (ii) to pay the costs of issuing the AMT
Bonds. The bonds mature serially through 2020 with interest rates ranging from 1% to 2%.
Series 2016 (Refunded Series 2008)
A series of 4,712 bonds at $5,000 each dated May 1, 2016. The bonds will be used to: (i) refund
a portion of the Town's outstanding debt (the "Refunded Obligations") for debt service savings
and (ii) to pay the costs associated with the issuance of the Bonds.
TOTAL LONG-TERM DEBT OUTSTANDING
17,990,000
$
75,317,479
5,570,000
$
22,712,521
Exhibit I3

5-2017 CM Proposed Allfunds.xlsx

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