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20160823 Proposed Budget PPTBudget Theme: CIP – Recently Completed3 CIP – Completion: Next 4 Years4 CIP – Completion: Next 5 -10 Years5 Historical & Projected PopulationSource: US Census Bureau and North Central Texas Council of Governments (NCTCOG) through 2015; future estimates from the Town of Prosper. 2,0974,1009,42315,97025,81037,92053,18067,22072,050010,00020,00030,00040,00050,00060,00070,00080,0002000 2005 2010 2015 2020 2025 2030 2035 20406 15601583113526286565591285105613149490500100015002000250030002012 2013 2014 2015 2016 (Present)Single Family Lots Approved onPreliminary PlatsSingle Family Lots Approved onFinal PlatsUpdated 08/09/2016Single Family Lots Approved by the Planning & Zoning Commission7 Single Family Residential Permits Issued Annually 2012 – Present86555604614860100200300400500600700123456789101112Number of Permits201620152014201320124001stQuarter2ndQuarter JulyTotal Through July3rdQuarter4thQuarterYear EndTotalSF Residential Permits 2016 164 * 178 58 400SF Residential Permits 2015 143 200 54 397 * 170 142 * 655 *SF Residential Permits 2014 119 88 64 271 161 192 560SF Residential Permits 2013 89 134 64 287 155 108 486SF Residential Permits 2012 93 145 41 279 118 105 461* Updated to reflect building permit withdrawals from Tanner’s Mill subdivision New Residential Construction Expanded Tax Base & More PopulationMore Population Increased Demand for Services, Programs,Facilities & InfrastructureIncreased Demand More Staff, Equipment & Capital ProjectsMore Capital Projects More Capital DebtMore Capital Debt Increased Annual Debt ServiceIncreased Debt Service Less Revenue for O&M (Services, Programs, Staff & Equipment)Less Revenue for O&M More Property Tax Revenue Required to Support Expanded Tax BaseHigh Growth Dynamic9 No Tax Rate IncreaseNo Water or Sewer Rate IncreaseNo Solid Waste Rate IncreaseNo Storm Drainage Fee IncreaseNo Other Fee Increases10Proposed FY 2016-2017 Budget Includes Public SafetyStreets / InfrastructureParks and Recreation Facilities11Proposed FY 2016-2017 Budget Focus Budget Components12Base Budget—example: electricity, existing personnel costs. Total: $34,523,336Non-Discretionary Supplemental Request (“must do”) —examples: external increase in software maintenance fees, changes from state law. Total: $1,348,186Discretionary Supplemental Request (“must do” and “should do”) — examples: new positions or vehicles, park or public works projects. Total: $4,908,186Cut Supplemental Request (“should do” and “nice to do”) Total: $1,927,427 All Funds Consolidated Fund Summaries14FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017GENERAL REVENUES 16,296,060 17,665,303 18,436,518 20,586,204 EXPENDITURES 16,308,647 17,664,615 17,937,964 20,270,788 NET REVENUES OVER (UNDER) EXPENDITURES(12,587)688 498,554 315,416 WATER & SEWER REVENUES 10,772,514 11,725,235 12,572,877 13,338,736 EXPENDITURES 9,436,239 12,061,442 12,268,811 14,252,548 NET REVENUES OVER (UNDER) EXPENDITURES1,336,275 (336,207)304,066 (913,812)DEBT SERVICE (I&S) REVENUES 3,184,814 3,418,269 3,443,536 4,199,988 EXPENDITURES 2,873,732 3,777,788 3,405,038 4,182,809 NET REVENUES OVER (UNDER) EXPENDITURES311,082 (359,519)38,498 17,179 GENERAL CAPITAL PROJECTS REVENUES 30,110,662 19,376,770 22,186,058 12,844,100 EXPENDITURES 20,174,052 26,304,225 19,470,774 26,638,979 NET REVENUES OVER (UNDER) EXPENDITURES9,936,610 (6,927,455)2,715,284 (13,794,879) ConsolidatedFund Summaries Cont’d15FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017UTILITY CAPITAL PROJECTS REVENUES 917,064 2,404,200 149,200 11,175,650 EXPENDITURES 574,413 3,181,700 1,154,504 15,133,950 NET REVENUES OVER (UNDER) EXPENDITURES342,651 (777,500) (1,005,304) (3,958,300)PARK IMPROVEMENTS / DEDICATION REVENUES 139,851 207,300 534,031 210,800 EXPENDITURES 214,120 1,590,000 2,115,000 90,000 NET REVENUES OVER (UNDER) EXPENDITURES(74,269) (1,382,700) (1,580,969)120,800 WATER IMPACT FEESREVENUES 2,584,786 2,748,000 3,027,000 3,229,700 EXPENDITURES 740,161 7,958,359 8,568,915 2,711,167 NET REVENUES OVER (UNDER) EXPENDITURES1,844,625 (5,210,359) (5,541,915)518,533 WASTEWATER IMPACT FEESREVENUES 450,768 487,100 582,095 607,800 EXPENDITURES 102,064 1,659,193 2,044,193 281,200 NET REVENUES OVER (UNDER) EXPENDITURES348,704 (1,172,093) (1,462,098)326,600 Consolidated Fund Summaries Cont’d16FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017E THORO IMPACT FEESREVENUES 2,046,595 2,209,400 4,329,600 4,032,560 EXPENDITURES 283,871 6,113,229 10,447,229 3,300,000 NET REVENUES OVER (UNDER) EXPENDITURES1,762,724 (3,903,829) (6,117,629)732,560 W THORO IMPACT FEESREVENUES 988,106 1,009,400 1,047,700 1,212,870 EXPENDITURES 288,978 837,322 1,150,000 600,000 NET REVENUES OVER (UNDER) EXPENDITURES699,128 172,078 (102,300)612,870 INTERNAL SERVICEREVENUES 21,375 25,640 28,040 23,100 EXPENDITURES 4,069 40,000 20,000 40,000 NET REVENUES OVER (UNDER) EXPENDITURES17,306 (14,360)8,040 (16,900)SPECIAL REVENUEREVENUES 768,460 62,100 535,440 64,400 EXPENDITURES 580,861 100,000 92,445 95,179 NET REVENUES OVER (UNDER) EXPENDITURES187,599 (37,900)442,995 (30,779) Consolidated Fund Summaries Cont’d17FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017STORM DRAINAGEREVENUES 275,899 316,100 305,500 345,625 EXPENDITURES 207,448 350,780 276,721 362,804 NET REVENUES OVER (UNDER) EXPENDITURES68,451 (34,680)28,779 (17,179)VERFREVENUES 1,325,931 550,781 586,651 518,781 EXPENDITURES 69,570 1,045,606 1,048,240 242,110 NET REVENUES OVER (UNDER) EXPENDITURES1,256,361 (494,825) (461,589)276,671 General Fund General Fund Revenues by Source19Revenue Category FY 2017 Projected % of TotalProperty Tax$ 10,003,217 48.6%License, Fees & Permits$ 3,548,385 17.2%Sales Tax$ 4,249,600 20.6%Interfund Transfers In$ 1,091,166 5.3%Franchise Fees$ 739,400 3.6%Fines & Warrants$ 385,000 1.9%Charges for Services$ 375,511 1.8%Investment Income$ 39,600 0.2%Grants$ 2,500 0.0%Miscellaneous$ 54,825 0.3%Park Fees$ 97,000 0.5%Revenue Total$ 20,586,204 100.0% General Fund Department Appropriations20Department FY 2017 Proposed % of TotalAdministration $ 3,718,377 18.3%Police Services $ 3,836,484 18.9%Fire Services $ 4,733,929 23.4%Public Works $ 2,205,908 10.9%Community Svcs $ 2,728,045 13.5%Development Svcs $ 2,218,078 10.9%Engineering $ 829,967 4.1%Expense Total$ 20,270,788 100.0% Proposed Positions21Dept. POSITIONS FTEsFinance Capital Projects Accountant 1PolicePatrol Officers 4Detective 1Fire Emergency Management Coordinator1Fire Inspector Investigator *1Park Operations Arborist1Chemical Technician1Maintenance Worker1TOTAL GENERAL FUND POSTIONS11Water Construction Inspector1Water Education Coordinator *1Construction Inspector –Right‐of‐Way1Wastewater Utility Maintenance Supervisor1Utility Crew Leader1Utility Worker1TOTAL ENTERPRISE FUND POSTIONS6*This position will start in October 2016. Major Program Enhancements22The major Program Enhancement and Capital Expenditures included in the proposed appropriations and planned for FY 2016-2017 by DepartmentDepartment Enhancements AmountPublic Works/Streets:Street Lights – Coit Road $450,000Prosper Trail Reconstruction $975,000Police:Four Full-Time Police Officers $387,672Additional Detective $123,453Needs Assessment – Public Safety Facility $ 75,000Fire:Emergency Management Coordinator $ 54,963Fire Inspector/Investigator $129,479Parks:Relocate Lights from Main Street park $ 96,000Water: Water Lines – Main Street Reconstruction $422,000Wastewater:Wastewater Lines – Main Street Reconstruction $422,000Utility Billing:Trash Collection Growth Projection $251,725 Property Taxes 2016 Valuations OverviewCertified Total Taxable (after freeze loss) Increased 19.58%○Collin County Value $2,331,862,827○Denton County Value $    214,280,894○Total Value $2,546,143,721Existing Taxable Values Increased 8.62%○+ 07.76% in Collin County○+ 23.49% in Denton CountyNew Construction Totaled $ 233,271,218○Collin County $162,297,411○Denton County $  70,973,80724 2016 Valuations Overview Cont’d2015-2016 2016-2017 Difference Tax DollarsAssessed Value $2,630,702,240 $3,236,092,432 $ 605,390,192 $ 16,827,681Freeze Taxable $ 173,565,133 $ 196,365,692 $ 22,800,559 $ 1,021,102Homestead Exemptions $ - $ 139,092,623 $ 139,092,623$ 723,282Other Exemptions $ 318,210,267 $ 354,490,396 $ 36,280,129 $ 1,843,350Net Taxable $2,138,926,840 $2,546,143,721 $ 407,216,881 $ 13,239,94725 Average Single-Family Home Value26Source:  Collin CAD and Denton CAD Certified Totals 2007‐2016$315,308 $342,977 $344,458 $333,084 $324,387 $321,662 $351,317 $378,651 $423,062 $460,766 $0$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,0002007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Ad Valorem Taxes27Source:  Collin CAD and Denton CAD Certified Totals 20162016Freeze Adjusted Taxable Value$2,546,143,721$0.52Times Total Tax Rate per $100$13,239,947Times Anticipated Collection Rate100%Plus Actual Tax from Freeze$907,311Total Tax Levy$14,147,258One Penny on the Tax Rate Yields$254,614 Property Tax Rate History28Fiscal Year General Fund I & S Fund Total2011‐12 0.316937 0.2030630.5200002012‐13 0.316914 0.2030860.5200002013‐14 0.326191 0.1938090.5200002014‐15 0.356301 0.1636990.5200002015‐16 0.361074 0.1589260.5200002016‐17 0.367500 0.1525000.520000As Proposed0.0 0.1 0.2 0.3 0.4 0.5 0.6General FundI & S Fund Property Tax Rate Comparison I(2015 Tax Rates)29Source:  Collin and Denton Central Appraisal Districts.0.0000.1000.2000.3000.4000.5000.6000.7000.8000.9001.000Cents per $100 Property Tax Rate Comparison II30Source:  Collin and Denton Central Appraisal Districts.Prosper ISD $1.67000Town of Prosper $0.52000Collin County $0.22500Collin College$0.08196 Average Home Owner2016 Average Homestead Market Value = $ 460,766 Average Prosper Resident Total Tax Bill – Collin County31Note:  Average Taxes are computed using 2015 tax rates for all agencies.  Includes possible exemptions with each entity for simplicity.Taxing JurisdictionTax Rate per $100 HomesteadExemption Tax LevyProsper ISD $1.670000 $25,000 $7,277 Town of Prosper $0.520000 $34,557 $2,216 Collin County $0.225000 $23,038 $985 Collin College $0.081960 ‐$378 Totals $2.496960 $82,596 $10,856  Property Tax Rate Scenarios322016 Average Homestead Market Value = $460,766Tax Rate Scenarios – Homeowner ImpactCurrent & Proposed Rate $0.520000 ‐$2,216Effective Rate $0.442223 ‐$1,885Rollback Rate $0.621838‐$2,650Tax Rate Scenarios – Municipal ImpactCurrent & Proposed Rate $0.520000 ‐$14,147,258Effective Rate $0.442223 – ($1,980,314) LOSSRollback Rate $0.621838 – $2,592,942 GAIN 33Texas Tax Code Section 11.13 (n)Must be adopted by July 1stMinimum Exemption $5,000Maximum Percentage 20%Homestead Exemption “a place where everyone matters”34Homestead Exemption AnalysisAssessed Value Homestead %Calculated HomesteadMinimumHomesteadHomesteadSavings$1,854,305,626 7.5% $139,072,922 $139,092,623 $723,282$1,854,305,626 8.5% $156,338,492 $156,358,193 $813,063$1,854,305,626 9.5% $173,812,688 $173,832,389 $903,928$1,854,305,626 10% $182,550,343 $182,570,044 $949,364$1,854,305,626 15% $269,934,502 $269,954,203 $1,403,762$1,854,305,626 20% $357,321,539 $357,341,240 $1,858,174 35Projected Assessed ValueHomestead %Calculated HomesteadMinimumHomesteadHomestead Savings$2,176,841,826 7.5% $163,263,137 $163,282,838 $849,071$2,176,841,826 8.5% $183,754,069 $183,773,770 $955,624$2,176,841,826 9.5% $204,453,627 $204,473,328 $1,063,261$2,176,841,826 10% $214,803,963 $214,823,664 $1,117,083$2,176,841,826 15% $318,314,932 $318,334,633 $1,655,340$2,176,841,826 20% $421,828,779 $421,848,480 $2,193,612Homestead Exemption Analysis Water/Sewer Fund Water/Sewer Fund Revenues by Source37Revenue Category FY 2017 Projected % of TotalWater Charges $ 7,970,107 59.8%Wastewater Charges $ 3,544,000 26.6%Solid Waste Charges $ 1,376,796 10.3%Penalties $ 96,075 0.7%Investment Income $ 29,500 0.2%License, Fees & Permits $ 72,325 0.5%Miscellaneous $ 249,933 1.9%Revenue Total $ 13,338,736 100.0% Water/Sewer Fund Department Appropriations38Department FY 2017 Proposed % of TotalAdministration $                   5,903,974 41.4%Public Works $                   8,348,574 58.6%Expense Total $                 14,252,548 100.0% Long-Term Issuesand Key Dates Long-Term IssuesCompensationFacility PlanningVehicle and Equipment Replacement Program40 Compensation41Goal  –to attain a pay plan comparable to the market that helps attract and retain employees Facilities Planning42Town employees are spread among eight locations, including two temporary buildingsWindsong Ranch fire station is nearing completion and will serve the west side of ProsperTown Hall design in progressEfficiencies and improved customer service will result from well‐planned Town Hall and other facilities Vehicle/Equipment Replacement Fund (VERF)Motorized VehiclesNon‐Vehicle EquipmentComputer Equipment43 VERF OverviewCommon to many municipalities and commercial companiesVehicle and equipment expected life in years and purchase price drive annual contributions into separate replacement fundVehicle and equipment are disposed of when useful life is reached and replacements are purchased from fund44 VERF Replacement Schedule45Department Model YearAuto MakeAuto Model ClassificationEstimated Life (Yrs) / Age Estimated CostVEHICLES RECOMMENDED FOR REPLACEMENTPolice-Sgt Golden 2008 Ford LTD Crown Vic Sedan, Full-Size (Pursuit Rated)4 / 8$ 47,843 Police-Patrol 2011 Chevrolet Tahoe Truck, Sport-Utility4 / 6$ 43,650 Police-Patrol 2012 Chevrolet Tahoe Truck, Sport-Utility4 / 5$ 43,650 Police-Patrol 2013 Chevrolet Tahoe Truck, Sport-Utility4 / 5$ 43,650 Parks & Recreation 2006 Chevrolet Silverado 3/4T Truck, Pick-Up - Field 10 / 12$ 25,710 Vehicles / Equipment Replacement Deferred to FY 2017-2018Police-COP Vehicle 2008 Ford Expedition SUV (Field) 8 / 8N/AFire 2002 Chevrolet HD Ambulance Re-hab Unit 15 / 15N/AStreets 2007 Ford F450 Truck, Pick-Up - Field 10 / 10N/AStreets 2006 Ford F250 3/4T Truck, Pick-Up - Field 10/ 11N/AParks & Recreation 2007 Ford F250 3/4T Truck, Pick-Up - Field 10 / 10N/ACode Compliance 2007 Ford F150 Truck, Pick-Up - Field 10 / 10N/APublic Works - Water 2003 Wacker RD88OU Roller 5 / 14N/APublic Works - Water 2007 Dixie XC3300-74 Chopper 10 / 10N/APublic Works - Water 2004 Leroy 3272X1221 Air Compressor 10 / 13N/APublic Works - Water 2008 Swenson 0307-1848 Sand Spreader 5 / 9N/APublic Works - Water 2010 Toro 74297 Mower 5 / 7N/APublic Works - WW 2008 Aires Camera-TV Sewer Camera w/Locators 8 / 9N/APublic Works - WW 2010Insight VisionCamera-TV Sewer Camera 5 / 7N/ATOTAL VEHICLES10-20 Police Department $ 178,793 10-60 Parks Recreation $ 25,710$ 204,503TOTAL VERF BUDGET $ 172,000 TOTAL ESTIMATED COST $ 204,503DIFFERENCE-$ 32,503 VERF Replacement Schedule Cont’d46Account No. Department Quantity Type Budget 410-6125-10-02 Town Secretary's Office 2 1 desktop/1 laptop $ 2,850.00 410-6125-10-03 Finance 1 Laptop $ 1,700.00 410-6125-10-05 ITN/AContingency / Unscheduled Replacements$ 5,000.00 410-6125-10-04 Human Resources 1 Laptop $ 1,700.00 410-6125-10-07 Municipal Court 1 Laptop $ 1,700.00 410-6125-20-01 Police Operations 4 3 desktop/1 laptop $ 5,150.00 410-6125-20-05 Police Dispatch 2 Desktop $ 2,300.00 410-6125-30-01 Fire Operations 4 Desktop $ 4,600.00 410-6125-30-05 Fire Marshal 1 Desktop $ 1,150.00 410-6125-40-01 Building Inspections3 2 desktop/1 laptop $ 4,000.00 410-6125-60-01 Parks Administration 1 Laptop $ 1,700.00 410-6125-50-02 Public Works/Water 31 desktop/2 laptop $ 4,550.00 410-6125-50-03 Public Works/Wastewater 1 Desktop $ 1,150.00 TOTAL$ 37,550.00 Computer Equipment Recommended for Replacement Capital Improvement Projects 48CIP Projects STREETSCuster Road Turn Lanes @ Prosper Trail – Carry Over100,000DNT Southbound Frontage Road (Collin County) 9,500,000Downtown Enhancements – Carry Over ($1.85M Overall)1,650,000Eighth Street (Church - PISD) 260,000 Field Street (First - Broadway)250,000 Frontier Parkway (BNSF Overpass) – Carry Over3,650,000 Main Street (First - Broadway) 1,025,000 Old Town Streets 2015 (Fifth, McKinley) 1,044,000Parvin Road (Good Hope - FM 1385)270,000 Pasewark (Preston - Hickory)400,000Prosper Trail (Kroger – Coit)3.975,000West Prosper Road Improvements – Carry Over ($12.781M Overall)6,781,00028,905,000 49CIP Projects Cont’d TRAFFICMedian Lighting – Coit Road (US 380 – First) 450,000US 380 Illuminated Street Signs25,000475,000PARKSPreston Lakes Playground90,000Frontier Park North ($10,451,225 Overall)9,601,2259,691,225FACILITIESPublic Safety Facility (Police Station and Fire Station) – Needs Assessment 75,000Town Hall - Professional Services ($1.8615M Overall) 311,500 Town Hall – Construction 18,813,000 Town Hall – Furniture, Fixtures, and Equipment 1,362,00020,561,500 50CIP Projects Cont’dWATERCounty Line Elevated Storage Tank (Design) 937,500 Lower Pressure Plane Pump Station and Transmission Line 22,902,900 23,840,400 WASTEWATER 51CIP Projects Cont’dDRAINAGEColeman Street Channel Improvements 282,500 Old Town Drainage - First & Main Trunk Main 800,000 Old Town Regional Detention - Land Acquisition 385,000 Old Town Regional Detention - Broadway (Design & Construction) 550,000 2,017,500 Total All CIP Projects 85,490,625 52CIP Projects Cont’d 53CIP Projects Cont’d 54CIP Projects Cont’d CIP Analysis55 CIP Analysis Cont’d56 CIP Analysis Cont’d57(1) FY 2016 based on certified values and FY 2017 based on preliminary values perDenton CAD and Collin CAD websites. Assumes $350 million in annual growth forFY 2018, $250 million in annual growth for FY 2019, $200 million annual growth inFY 2020 and 1% thereafter.(2) Debt service assumed to be repaid solely with I&S tax revenues. Repaymentsource may be changed from year to year.(3) Debt service assumed to be repaid solely with I&S tax revenues. Based onprojected rates; preliminary, subject to change.(4) Estimated. Based on assumed total frozen revenues of $896,810 and projectedpro rata I&S tax rate share of a combined tax rate of $0.52; preliminary, subject tochange.(5) FY 2016 I&S tax rate per Town staff. All others calculated based on 98.5%collections. Key Dates in Budget ProcessSeptember 13September 19October 1582ndPublic Hearing on Budget2ndPublic Hearing on Tax RateCouncil adopts the FY 2016‐2017 BudgetCouncil sets the 2016 Tax RateFiscal Year 2016‐2017 begins Thank You!Questions?