City Council Budget Workshop

THE CITY OF CEDAR PARK CITY COUNCIL SPECIAL CALLED MEETING AUGUST 1, 2019 AT 4:00 P.M. CEDAR PARK CITY HALL – MULTI-PURPOSE ROOMS 450 CYPRESS CREEK ROAD, BUILDING THREE CITY COUNCIL Corbin Van Arsdale, Mayor Mike Guevara, Mayor Pro Tem Tim Kelly, Place One Rodney T. Robinson, Place Five Mel Kirkland, Place Two Dorian Chavez, Place Six Anne Duffy, Place Three Brenda Eivens, City Manager AGENDA A. CALL TO ORDER, QUORUM DETERMINED, MEETING DECLARED OPEN. B. Consideration Of: 1. Overview Of Fiscal Year 2019 Annual Budget. 2. Development Of Annual Budget And Proposed Tax Rate For Fiscal Year 2020. i. Budget Issues And Forecasting. ii. Maintenance And Operations. iii. Capital Improvement Projects, Bonding Capacity, And Debt Management Strategies. iv. Fiscal Policies. C. Mayor And Council Closing Comments. D. Adjournment. The above agenda schedule represents an estimate of the order for the indicated items and is subject to change at any time. All agenda items are subject to final action by the City Council. Separate agenda items may be combined and discussed together at the discretion of the Chair. Any final action, decision, or vote on a matter deliberated in Closed Executive Session shall be made in an open meeting pursuant to the Texas Open Meetings Act, Chapter 551 of the Texas Government Code. CERTIFICATE Any item on this posted agenda may be discussed in Executive Session provided it is within one of the permitted categories under Chapter 551 of the Texas Government Code. Council Agenda – Special Called August 1, 2019 Page 1 of 3 I certify that the above notice of the Special Called Meeting of the City Council of the City of Cedar Park, Texas was posted on the bulletin board of the City of Cedar Park City Hall, 450 Cypress Creek Road, Building Four, Cedar Park, Texas. This notice was posted on: Date Posted:___________________________ Date Stamped (Month, Day, Year, AM/PM, Time) The Cedar Park public meeting facilities are wheelchair accessible and accessible parking spaces are available. Requests for accommodations or interpretative services must be made 48 hours prior to this meeting. Please contact the City Secretary’s Office at (512) 401.5002 or FAX (512) 401.5003 for further information. _______________________________ LeAnn M. Quinn, TRMC City Secretary Notice Removed: _____________________ Date Stamped (Month, Day, Year, AM/PM, Time) Any item on this posted agenda may be discussed in Executive Session provided it is within one of the permitted categories under Chapter 551 of the Texas Government Code. Council Agenda – Special Called August 1, 2019 Page 2 of 3 Any item on this posted agenda may be discussed in Executive Session provided it is within one of the permitted categories under Chapter 551 of the Texas Government Code. Council Agenda – Special Called August 1, 2019 Page 3 of 3  FY 2020 BUDGET WORKSHOP August 1, 2019 www.cedarparktexas.gov  AGENDA • 2019 Budget Overview • Health Insurance • 2020 Working Budget • General Fund • Debt Service & Capital Budget • Other Funds • Next Steps www.cedarparktexas.gov  FY 2019 BUDGET REVIEW www.cedarparktexas.gov  FY 2019 REVENUES Revenues FY 2019 FY 2019 Variance ($ in Millions) Budget Estimate Property Tax $21.07 $21.45 $0.38 Sales Tax 16.89 16.86 (0.03) • Year-end estimate Franchise Fees 4.65 4.63 (0.02) within less than one- Development Fees 1.61 1.24 (0.37) fifth of 1% of budget Fines and Forfeitures 0.64 0.57 (0.07) Service Fees 3.36 3.20 (0.16) Admin and Contract Fees 7.08 7.08 - Other Income 1.39 1.79 0.39 Total $56.70 $56.82 0.12 www.cedarparktexas.gov  FY 2019 EXPENDITURES Expenditures FY 2019 FY 2019 Variance ($ in Millions) Budget Estimate Salaries and Benefits $36.90 $36.30 $0.60 Materials and Supplies 2.26 2.26 0.02 • Year-End Savings represents less than Repairs and Maintenance 1.62 1.62 - 1.5% of Budget Occupancy 1.63 1.59 0.04 • All Departments Contractual Services 8.51 8.36 0.14 projected to end Other Charges 4.08 3.99 0.09 within Budget Contingency 0.14 0.14 - Capital Outlay 0.76 0.84 (0.07) Transfers 0.36 0.36 - Total $56.28 $55.44 $0.83 www.cedarparktexas.gov  FY 2019 BUDGET ITEMS FOR CONSIDERATION 1 Transfer $840K sales tax allocation for Storm Water Projects • Cluck Creek Lower – $292,300 • Ranchettes 2 & 3 Central - $328,900 • Riviera Springs East - $218,800 2 Align Budgeted Personnel Expenditures • Distribute employee compensation, vacancy savings, and Retiree COLA to department accounts - $0 impact to Budget www.cedarparktexas.gov  Health Insurance www.cedarparktexas.gov  FY 2020 WORKING BUDGET www.cedarparktexas.gov BUDGET DEVELOPMENT PROCESS Preliminary Tax Rolls from Final Tax Roll Revenues CADS Balanced Budget Impacts of potential legislation, impact analysis Budget Presentations, Approval & Implementation Quarterly actuals, trends, reviewing agreements, begin setting budgets Jan Feb Mar Apr May Jun Jul Aug Sep Oct Quarterly actuals, remove one-time expenses, review line-items to adjust, model and forecast major purchases Balanced Budget Budget Presentations, Take personnel Snapshot, updating benefit Approval & changes, update public safety step plans Implementation Expenses Identify potential staffing requirements and service enhancements, capital projects www.cedarparktexas.gov  HIGHLIGHTS IN WORKING BUDGET Property Tax Current and Employee Workforce: 2015 Bond Economic Full Rate and Debt Future Impact Compensation: 3 Police Positions, Program, Facility Development Implementation Management of Revenue Public Safety 1 Library Position Improvements, of Drainage Changes Pay Plans, Community Program Merit and Projects Market Pay www.cedarparktexas.gov  TOTAL OPERATING BUDGET - $153 MILLION UTILITY FUND, GENERAL FUND, $40.3 M $57.9 M Water & Wastewater funded Day to Day City Operations by monthly water bills funded by Property Tax, Sales Tax, User Fees RESTRICTED FUNDS, $54.8 M Revenues for specific purposes (4A,4B, Debt Service, Cable Fund, Public Arts, Replacement Fund, etc.) www.cedarparktexas.gov  FY 2020 GENERAL FUND BY FUNCTION - $57.9 M Economic Dev., City Manager, Legal Services, Community Affairs, City Secretary, City Council Police, $16.3 M, 28% Non-Dept, Information Svcs, Finance, Human Resources Culture & Rec, $6.6 M, 11% Parks & Recreation, Library, Tourism Fire, $11.6 M, 20% Public Works (Field Ops), Development Svcs, Engineering Court, Animal Control, Emergency Mgmt $1.4 M, 2.4% www.cedarparktexas.gov  REVENUES SUMMARY A E 2019 2020 CHANGE BUDGET WORKING BUDGET EXPENDITURES AD VALOREM/PROPERTY TAX 21,065,321 23,249,200 2,183,879 SALES TAX – 1 CENT 15,017,009 15,371,029 354,020 SALES TAX – 1/8 CENT 1,877,126 1,919,309 42,183 DEVELOPMENT FEES 1,611,982 1,206,000 (405,982) FRANCHISE FEES 4,651,995 4,585,534 (66,461) FINES & FORFEITURES 638,954 570,000 (68,954) SERVICE FEES 3,363,748 3,227,457 (136,291) ADMINISTRATIVE & CONTRACT FEES 7,078,051 5,153,764 (1,924,287) OTHER INCOME 1,394,700 1,786,744 392,044 TOTAL REVENUE $ 56,698,886 $ 57,069,037 $ 370,151 www.cedarparktexas.gov  AD VALOREM – PROPERTY TAX www.cedarparktexas.gov  BREAKDOWN OF HOMEOWNER TAX BILL County 19% School District ACC, WCID 58% 5% Cedar Park 18% www.cedarparktexas.gov  TAXABLE AD VALOREM Preliminary values FY 2019 FY 2020 Growth Base Value - $8.97 Billion 4.3% New Growth - $0.19 Billion 2.2% Net Taxable Value $8.60 Billion $9.16 Billion 6.5% Local Option Exemption Foregone Levy Over 65 Exemption ($408,000) Disabled Exemption ($22,000) Freeze/Ceiling ($660,000) Homestead Exemption (365,000) www.cedarparktexas.gov  AD VALOREM RATE BY COMPONENTS Total Rate: $0.4480 General Fund (M&O) • Public Safety • Street Maintenance 0.23880 • Parks 53% 0.20920 • Library 47% Debt Service (I&S) • Engineering • Accounts for the funds • Development used to make principal • Support Services and interest payments on outstanding bonds www.cedarparktexas.gov  AD VALOREM RATE 8% over Effective A B C D E Current Effective Rollback Working Component 2019 Rate M&O Rate M&O Rate 2020 Rate Change Maintenance & Operations 0.23260 0.22213 0.23990 0.23880 0.00620 Interest & Sinking 0.21640 0.20920 (0.00720) Total Rate 0.44900 0.44800 (0.00100) 1/10 Cent Decrease www.cedarparktexas.gov  AD VALOREM CALCULATION OVERVIEW 1 $338,000 M&O - 0.2388 I&S - 0.2092 - 5000 (HS) (General Fund) (Debt Service) Appraisal District $333,000 ÷ $100 $3,330 2x x $0.448 $1,492 City Council www.cedarparktexas.gov  AVERAGE HOME VALUES & LEVIES Williamson Travis Combined 2020 Average Value $315,400 $473,100 $332,950 2019 Average Value $302,000 $454,732 $319,533 % Variance 4.4% 4.0% 4.2% % of Residential Homes 89% of Total 11% of Total 100% 2019 Avg Levy ($0.4480–Working Rate) $1,413 $2,119 $1,492 2018 Avg Levy ($0.4490–Current Rate) $1,356 $2,042 $1,435 Annual Increase $57 $78 $57 Monthly Increase $4.74 $6.47 $4.74 % Levy Increase 4.2% 3.8% 4.0% www.cedarparktexas.gov  AD VALOREM RATE HISTORY 0.5000 0.49350 0.49350 0.49250 0.4900 0.48500 0.47950 0.4800 0.47000 0.4700 0.4600 0.45750 0.44900 0.44800 0.4500 7th Consecutive Year of Rate DECREASE 0.4400 0.4300 2012 2013 2014 2015 2016 2017 2018 2019 2020 Working Rate www.cedarparktexas.gov  BENCHMARK AND AREA CITIES FY 2019 Rates 0.800 0.709 0.710 0.614 0.600 0.585 0.552 0.528 0.505 0.506 0.515 0.442 0.448 0.420 0.420 0.439 0.400 0.328 0.200 - www.cedarparktexas.gov  AD VALOREM REVENUE – GENERAL FUND M&O $25.00 Millions $23.25 $20.00 $21.45 $19.84 $18.14 $15.00 $16.83 $14.92 $12.09 $12.74 $10.00 $10.76 $9.89 $5.00 $0.00 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Estimate Projection* * Includes $510K set aside for existing 380/Economic Development Incentive Agreements www.cedarparktexas.gov  SALES TAX & OTHER REVENUE www.cedarparktexas.gov  SALES TAX PROJECTIONS Sales Tax % Change Year over Year 20% 16.9% 16% 12.6% 12% 10.3% 10.8% 10.0% 9.5% 8% 6.8% 4% 3.5% 2.5% 0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 Average (2012-2018) Year Over Year % Change Est Proj FY 2019 Budget FY 2019 Estimate Change FY 2020 Estimate Change Sales Tax – 1 Cent $15,017,009 $14,996,126 (20,883) $15,371,029 374,903 Sales Tax – 1/8 Cent $1,877,126 $1,872,019 (5,107) $1,919,309 47,290 www.cedarparktexas.gov  SALES TAX REVENUE – GENERAL FUND 1.125 CENTS $20.00 $18.00 Millions $16.00 $1.87 $1.92 $14.00 $15.00 $15.32 $14.49 $12.00 $13.24 $11.95 $10.00 $11.19 $10.17 $8.00 $8.70 $7.88 $6.00 $4.00 $2.00 $0.00 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Estimate Projection* Sales Tax Sales tax 1/8 cent * Includes $1.62 M set aside for 380/Economic Development Incentive Agreements www.cedarparktexas.gov  REVENUE CHANGES • Impacts from changes to state legislation • Franchise Fees: Legislation authorizes a cable or phone company to stop paying the lesser of cable or telephone access line fees • Estimated Impact of $100K • AV/Property Tax: Capping M&O portion of Tax Rate at 3.5% • Future potential impact of $100K to $900K www.cedarparktexas.gov  REVENUE CHANGES – OTHER REVENUE 2.5 $2.29 • Development & Building Fees Millions 2.0 $1.87 $1.88 $1.83 $1.91 1.5 $1.24 $1.21 • Average revenue 2014-18: $2.0 M 1.0 • Average revenue 2019-20: $1.2 M 0.5 0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 $1.6 • Court Fees and Fines $1.21 Millions $1.2 • Average revenue 2014-18: $790K $0.8 $0.72 $0.75 $0.67 $0.59 $0.57 $0.57 • Average revenue 2019-20: $570K $0.4 $0.0 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 www.cedarparktexas.gov  REVENUES SUMMARY A E 2019 2020 CHANGE BUDGET WORKING BUDGET EXPENDITURES AD VALOREM/PROPERTY TAX 21,065,321 23,249,200 2,183,879 SALES TAX – 1 CENT 15,017,009 15,371,029 354,020 SALES TAX – 1/8 CENT 1,877,126 1,919,309 42,183 DEVELOPMENT FEES 1,611,982 1,206,000 (405,982) FRANCHISE FEES 4,651,995 4,585,534 (66,461) FINES & FORFEITURES 638,954 570,000 (68,954) SERVICE FEES 3,363,748 3,227,457 (136,291) ADMINISTRATIVE & CONTRACT FEES 7,078,051 5,153,764 (1,924,287) OTHER INCOME 1,394,700 1,786,744 392,044 TOTAL REVENUE $ 56,698,886 $ 57,069,037 $ 370,151 www.cedarparktexas.gov  BASE BUDGET DEVELOPMENT www.cedarparktexas.gov  BUDGET DEVELOPMENT PROCESS FY 2019 Adopted Budget FY 2020 Base Budget Base Adjustments Remove One-Time Expenditures • Contractual Increases, Mandated Costs, Line-item Reductions Personnel Adjustments • Meet & Confer, TMRS, Health, Dental, FY 2020 Current Service Worker’s Comp Reset Planned Line Items • VES, Fuel & Oil, Electricity, Telephone, Service Needs & Enhancements etc. FY 2020 Base Budget FY 2020 Proposed Budget www.cedarparktexas.gov  EXPENDITURES SUMMARY A B C D E 2019 2020 2020 2020 2020 BUDGET BASE ADJ TO BASE REQUESTS Working Budget EXPENDITURES SALARIES AND BENEFITS 36,903,019 36,930,729 - 1,604,520 38,535,249 MATERIALS AND SUPPLIES 2,264,787 2,008,227 9,500 242,450 2,260,177 REPAIRS AND MAINTENANCE 1,624,606 1,497,918 65,715 364,500 1,928,133 OCCUPANCY 1,630,868 1,723,230 - 1,852 1,725,082 CONTRACTUAL SERVICES * 8,507,681 8,474,086 218,302 189,164 8,881,552 OTHER CHARGES 4,080,660 3,958,020 81,551 71,194 4,110,765 CONTINGENCY 140,000 140,000 - - 140,000 CAPITAL OUTLAY 762,980 10,000 - 179,000 189,000 TRANSFERS 364,782 154,782 - - 154,782 TOTAL EXPENDITURES $ 56,279,383 $ 54,896,992 $ 375,068 $ 2,652,396 $ 57,924,740 * Vehicle & Equipment Rental in FY 2020: $3.1 M www.cedarparktexas.gov  Department Overview Public Safety General Government Police City Council Fire City Manager Emergency Management City Attorney Municipal Court City Secretary Community Affairs Public Works & Development Economic Development Public Works Engineering Support Services Development Services Human Resources Information Services Culture & Recreation Finance Parks and Recreation Non-Departmental Library Tourism www.cedarparktexas.gov  GENERAL FUND www.cedarparktexas.gov  FY 2020 GENERAL FUND BY FUNCTION - $57.9 M Economic Dev., City Manager, Legal Services, Community Affairs, City Secretary, City Council Police, $16.3 M, 28% Non-Dept, Information Svcs, Finance, Human Resources Culture & Rec, $6.6 M, 11% Parks & Recreation, Library, Tourism Fire, $11.6 M, 20% Public Works (Field Ops), Development Svcs, Engineering Court, Animal Control, Emergency Mgmt $1.4 M, 2.4% www.cedarparktexas.gov  FY 2020 GENERAL FUND BY CATEGORY - $57.9 M Contractual Services – 15% Materials & Supplies– 4% Repairs & Maintenance– 3% Occupancy– 3% Other Charges – 7% Transfers & Capital– 0.6% www.cedarparktexas.gov  PUBLIC SAFETY WORKFORCE POLICE & FIRE FTE ONE-TIME ON-GOING TOTAL Police Pay Plan Increase 220,000 220,000 Police Annual Step Increase 140,000 140,000 Fire Step Pay Plan Annual Step & Increase 447,500 447,500 Total Police/Fire Compensation - - $ 807,500 $ 807,500 Sergeant - CID Special Victims Unit 1.0 58,827 131,605 190,432 Detective - CID Support Services Bureau 1.0 59,437 98,654 158,091 Total Additional Workforce 2.0 118,264 230,259 $ 348,523 www.cedarparktexas.gov  CIVILIAN WORKFORCE CIVILIAN FTE ONE-TIME ON-GOING TOTAL Performance Pay and Market Pay Study Implementation 515,000 515,000 Library Generalist - Public Services 1.0 2,100 41,164 43,264 www.cedarparktexas.gov  OTHER ITEMS - $1.0 M Public Parks & Information Mandated Safety Libraries Security Costs PD/Court Fire Control Playground Replaced Annual IT Audit: Update Americans Panel Replacement: in 3 Parks: $35,000 with Disabilities Act $110,000 $200,000 (ADA) Plan: VMware Network $75,000 Additional Digital Brave Alliance: Library materials: and Security: Truck Mounted $20,000 $34,000 $55,609 Attenuator Crash Truck: Audio Recording Camp Timberwolf $116,500 System Replacement: Staffing / Market $220,000 Adjustment: Facility Improvements $22,284 and Repairs: $50,000 www.cedarparktexas.gov  Community Support FY 2019 FY 2020 Organization Description of Services Difference Budget Requested Faith in Action - Drive a Senior Transportation to senior adults over the age of 60. 31,800 34,165 2,365 WBC Opp. - Meals on Wheels Meals to elderly homebound clients and to senior 11,060 12,000 940 activity centers. Hope Alliance Services for family and sexual violence survivors 10,300 30,000 19,700 Christian Resource Center Provides employment, education, clothing, 14,720 17,500 2,780 financial, food, housing, and other services Sacred Heart Community Clinic medical and dental care to underinsured residents 8,940 7,000 (1,940) living in poverty. CASA of Williamson County Provides advocates in court for children who have 4,680 10,000 5,320 experienced abuse and neglect. Literacy Council of Williamson Cty Provides adults literary skills, and/or help with GED - 2,500 2,500 or vocational certification. Samaritan Health Ministries Provides clinical services to low-income patients - 25,000 25,000 who lack health insurance. Total 81,500 138,165 56,665 www.cedarparktexas.gov  GENERAL FUND SUMMARY FY 2020 Proposed Revenues $ 57,069,037 Expenses $ 57,924,740 Revenue Over/(Under) Expenses ($ 855,703) NET of One-Time Expenses and Revenue $ 858,208 Revised Structural Balance $ 2,500 Ending Balance $ 20,616,619 Fund Balance as % of Expenditures * 36% * Policy directs maintaining fund balance at 25% to 50% of budgeted operating expenditures www.cedarparktexas.gov  CAPITAL BUDGET & DEBT SERVICE www.cedarparktexas.gov  AD VALOREM RATE BY COMPONENTS Total Rate: $0.4480 General Fund (M&O) • Public Safety • Street Maintenance 0.23880 • Parks 53% 0.20920 • Library 47% Debt Service (I&S) • Engineering • Accounts for the funds • Development used to make principal • Support Services and interest payments on outstanding bonds www.cedarparktexas.gov  DEBT SERVICE CAPACITY (I&S RATE: 0.20920) $26 Millions $24 $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Projected I&S Revenue Existing Net Tax-Supp. D/S GO Series 2020 1 Future/Other 2 Future/Other Cash Defeasance 3 Future/Other 4 Future/Other ($ in millions) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Debt Service Capacity $1.8 $2.2 $0.2 $0.6 ($1.1) www.cedarparktexas.gov  DEFEASANCE & SAVINGS Defeasance Interest Amount Savings • Retires existing debt 2017 $1.4 M $0.5 M • Saves money on interest 2018 $2.9 M $1.4 M • Provides additional flexibility in the future 2019 $2.4 M $0.6 M 3-Year Total $6.7 M $2.5 M • Option for FY 2020 Working Budget 2020 $3.0 M $1.0 M www.cedarparktexas.gov  GENERAL CAPITAL PROJECTS BY CATEGORY – $59 M $30 $23.7 $20.6 $20 $10 $6.1 $8.3 $- Transportation Facilities Parks Drainage Brushy Creek Road Lakeline Park Building 1 Reconfiguration Cluck Creek Lower RM 1431 (Bagdad to AMR) ● ● Bell Boulevard Redevelopment & ● North Brushy Creek Trail Ranchettes 2 and 3 New Library ● ● Realignment ● Regional Trail Connection Riviera East Fire Station Improvements Intersection Turn Lanes and Shared Use Bridge Lakeline Roadways ● Bell Boulevard Park New Hope RR to SB ● Toro Grande Extension Veterans Dog Park Right Turn Lane on Bell Improvements www.cedarparktexas.gov  UTILITY CAPITAL PROJECTS BY CATEGORY – $31 M $27.3 $25 $20 $15 $10 $5 $3.3 $0.3 $- Water Wastewater Other Anderson Mill 16” TM BCRWWS East Plant Expansion Building 1 Reconfiguration (upgrade existing 12”) Improvements ● ● Water Infrastructure Cottonwood WW Interceptor ● Wastewater Infrastructure www.cedarparktexas.gov  OTHER FUNDS www.cedarparktexas.gov  Utility Fund Proposed Revenues & Expenditures Revenue Total: $33,990,920 Expense Total: $40,330,563 Other Revenues, $1,697,548 Salaries And Contractual Occupancy, Benefits, Services, $6,403,379 $1,580,343 $10,514,842 Materials And Sewer Billings, Water Sales, Other, Supplies, $12,954,682 $4,489,825 $944,556 $19,338,690 Other Charges, $905,756 Transfers, Repairs And Maintenance, $18,887,517 $685,170 Capital Outlay, $374,000 www.cedarparktexas.gov  Utility Fund Enhancements in Proposed Budget FTEs TITLE ONE-TIME ON-GOING TOTAL 1.0 Accounting Technician II 4,600 46,633 51,233 1.0 Treatment Operator in Training - 47,272 47,272 Hydro Excavator 320,000 - 320,000 Valve Truck 54,000 - 54,000 Performance Pay & Compensation Plan - 170,000 170,000 2.0 Total Enhancements $378,600 $263,905 $642,505 www.cedarparktexas.gov  TYPE A – ECONOMIC DEVELOPMENT Revenue - $6.07 M Expenses - $5.03M $8.0 $7.5 $7.39 Staff $ in Millions Support $7.0 $6.70 and Type A $6.5 $6.07 Expenses, $5.93 18% $6.0 $5.5 Economic $5.0 Dev Agreements, $4.5 Debt 15% $4.0 Service, 64% $3.5 $3.0 FY 2017 FY 2018 FY 2019 FY 2020 HEB Center, Actual Actual Est Budget 3% www.cedarparktexas.gov  Economic Development Agreements – $747,061 Agreement Amount Revenue Cycle, Inc. $15,200 Innovative Funding Services $30,000 Hyliion $275,000 Fifteen Five Corporation $10,480 AMT $148,350 Project Hop $75,000 Project Excalibur $193,031 www.cedarparktexas.gov  TYPE B COMMUNITY DEVELOPMENT BUDGET Revenue - $7.75 M Expenses - $6.32 M $8.0 $7.75 $7.56 $7.5 $7.27 $ in Millions $7.0 $6.72 Community $6.5 Enhancement 34% Economic $6.0 Dev $5.5 1% Debt Service $5.0 12% $4.5 Transformational $4.0 Projects 48% $3.5 Board & $3.0 Staff FY 2017 FY 2018 FY 2019 FY 2020 Support Actual Actual Budget Proposed 5% www.cedarparktexas.gov  PROJECTS BY STRATEGIC GOALS – $5,242,000 $3,020,000 $2,150,000 $72,000 Economic Development Transformational Projects Community Enhancements VUV Analytics Lakeline Park Phase I Pole-Mounted Signs ● ● Bell Boulevard Redevelopment Turn Lane Improvement at Bell Blvd ● and Cypress Creek Bell Boulevard Park Planning ● 183 Pedestrian Bridge ● Veterans Dog Park Improvements ● North Brushy Creek Trail Match ● Trail Connection at James Avery Location www.cedarparktexas.gov  TOURISM PROPOSED BUDGET Revenue - $1.13 M Expenses - $1.02 M $1.2 $1.13 $1.0 $0.96 $ in Millions Event $0.81 Marketing $0.78 18% $0.8 Public Art 13% $0.6 Tourism $0.4 Development Marketing & Advertising 13% $0.2 40% Support $0.0 Services FY 2017 FY 2018 FY 2019 FY 2020 16% Actual Actual Estimate Proposed www.cedarparktexas.gov  EVENT MARKETING– $188K Event Marketing FY 2020 Austin Spurs 62,500 Robotters International Festival 45,000 Cedar Fest BBQ Cook-Off 15,000 Volley-palooza 10,000 Balcones Songbird Festival 5,000 Haute Rock Entertainment Concert Series 50,000 Total Event Marketing $187,500 www.cedarparktexas.gov  FINANCIAL POLICIES UPDATE • Current adopted policy “budgets current ad valorem tax revenue at 99.0% of the total amount of taxes levied.” • Change to policy would increase this amount to 99.5% • Provides additional flexibility in the budget while maintaining moderately conservative approach www.cedarparktexas.gov  ON THE HORIZON • Future Bond Program • New Library and Operations • Lakeline Park Development and Operations • Redevelopment Projects • Changing Revenue Growth • AV Revenue Cap www.cedarparktexas.gov  NEXT STEPS September 19 August 22 (Special Called) Council Meeting 2nd Public Hearing August 1 September 26 September 12 Adoption of Budget Budget Workshop 1st Public Hearing www.cedarparktexas.gov  FY 2020 BUDGET WORKSHOP August 1, 2019 www.cedarparktexas.gov