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20160919 Proposed Budget & Tax Rate PPT EmailBudget Theme: Budget Overview Changes to Proposed Budget & CIP Water/Sewer Fund:Main Street water lines reduced: $422,000 to $250,000Main Street sewer lines reduced: $422,000 to $150,000Compensation Plan reduced: $48,514 to $25,117General Fund:Parvin Street (Broadway – Eighth) $515,000Sixth Street (Coleman – Church) $430,000Third Street (Church – Lane) $320,000Compensation Plan decreased: $142,520 to $136,864Storm Drainage Fund:Compensation Plan increased: $0 to $2,408VERF:Replacement computers reduced: $37,550 to $30,3504 Changes to Proposed Budget & CIP Cont’d5East Thoroughfare Impact Fee Fund:Frontier Parkway (BNSF Overpass) reallocated $1,310,000 toFY 2017-2018 to pay for additional projects in FY 2016-2017.Prosper Trail (Coit – Custer) $540,000Coit Road (First – Frontier) $770,000West Thoroughfare Fund:Cook Lane (First – End) & E-W Collector $200,000(DESIGN ONLY)Water Impact Fee Fund:County Line EST reduced: $937,500 to $337,50024” WL Connection from County Line EST $70,775 No Tax Rate IncreaseNo Water or Sewer Rate IncreaseNo Solid Waste Rate IncreaseNo Storm Drainage Fee IncreaseNo Other Fee Increases6Proposed FY 2016-2017 Budget Includes Consolidated Fund Summaries7FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017GENERALREVENUES 16,296,060 17,665,303 18,436,518 20,586,204 EXPENDITURES 16,308,647 17,664,615 17,937,964 21,530,132 NET REVENUES OVER (UNDER) EXPENDITURES(12,587)688 498,554 (943,928) WATER & SEWERREVENUES 10,772,514 11,725,235 12,572,877 13,338,736 EXPENDITURES 9,436,239 12,061,442 12,268,811 13,785,152NET REVENUES OVER (UNDER) EXPENDITURES1,336,275 (336,207)304,066 (446,416)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 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 ConsolidatedFund Summaries Cont’d8FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017WATER IMPACT FEESREVENUES 2,584,786 2,748,000 3,027,000 3,229,700 EXPENDITURES 740,161 7,958,359 8,568,915 2,181,942 NET REVENUES OVER (UNDER) EXPENDITURES1,844,625 (5,210,359) (5,541,915)1,047,758WASTEWATER 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 E 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)732,560W THORO IMPACT FEESREVENUES 988,106 1,009,400 1,047,700 1,212,870 EXPENDITURES 288,978 837,322 1,150,000 800,000 NET REVENUES OVER (UNDER) EXPENDITURES699,128 172,078 (102,300)412,870 Consolidated Fund Summaries Cont’d9FUND ACCOUNT TYPEACTUAL BUDGET 2014-2015AMENDED BUDGET2015-2016PROJECTED BUDGET 2015-2016PROPOSED BUDGET 2016-2017INTERNAL 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)STORM DRAINAGEREVENUES 275,899 316,100 305,500 345,625 EXPENDITURES 207,448 350,780 276,721 365,212 NET REVENUES OVER (UNDER) EXPENDITURES68,451 (34,680)28,779 (19,587)VERFREVENUES 1,325,931 550,781 586,651 518,781 EXPENDITURES 69,570 1,045,606 1,048,240 234,910 NET REVENUES OVER (UNDER) EXPENDITURES1,256,361 (494,825) (461,589)283,871 Public SafetyStreets / InfrastructureParks and Recreation Facilities10Proposed FY 2016-2017 Budget Focus Budget Components11Base Budget—example: electricity, existing personnel costs. Total: $30,354,858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: $4,437,541Cut Supplemental Request (“should do” and “nice to do”) Total: $1,927,427 Proposed Positions12Dept. 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 Enhancements13The 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 $250,000Wastewater:Wastewater Lines – Main Street Reconstruction $150,000Utility Billing:Trash Collection Growth Projection $251,725 Thank You!Questions? 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 $ 70,973,80717 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 $ 13,239,94718 Average Single-Family Home Value19Source: 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 Taxes20Source: 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 History21Fiscal 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 Average Home Owner2016 Average Homestead Market Value = $ 460,766 Average Prosper Resident Total Tax Bill – Collin County22Note: 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 Scenarios23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 Prosper Property Tax Rate24$0.0000$0.1000$0.2000$0.3000$0.4000$0.5000$0.6000$0.70002008 2009 2010 2011 2012 2013 2014 2015 2016ETRRTRAdopted Rate Prosper Adopted Tax Rate25$0.0000$0.1000$0.2000$0.3000$0.4000$0.5000$0.60002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Tax Rate per $100Tax Year Property Tax Rate Comparison I(2015 Tax Rates)26Source: Collin and Denton Central Appraisal Districts.0.0000.1000.2000.3000.4000.5000.6000.7000.8000.9001.000Cents per $100 Property Tax Rate Comparison II27Source: Collin and Denton Central Appraisal Districts.Prosper ISD $1.67000Town of Prosper $0.52000Collin County $0.22500Collin College$0.08196 ConclusionTax rate remaining at $0.52/$100Town of Prosper is 20.41% of total tax bill28 Thank You!Questions?