HomeMy WebLinkAboutJuly 25, 2007 Agenda
AGENDA
CITY OF DENTON CITY COUNCIL
July 25, 2007
After determining that a quorum is present, the City Council of the City of Denton, Texas will
2:00 p.m.
convene in a Special Called Work Session on Wednesday, July 25, 2007 at in the
Council Work Session Room at City Hall, 215 E. McKinney, Denton, Texas at which the
following items will be considered:
1.Receive a report, hold a discussion, and give staff direction on the 2007-08 Budget and
five-year financial forecast.*
*Note that the Council does not anticipate the need to go into a Closed Meeting regarding the
matters stated above. However, in the event that a Public Power Competitive Matter issue arises,
in connection with Denton Municipal Electric portion of the budget only, where it is necessary to
convene a Closed Meeting of the Council; then the following notice shall be applicable.
1.Closed Meeting:
[**Before the Denton City Council may deliberate, vote, or take final action on
each of the agenda items posted as a competitive matter in a Closed Meeting
under the provisions of TEXAS GOVERNMENT CODE § 551.086(c) the City
Council must first make a good faith determination, by majority vote of its
members, that the particular agenda item is a competitive matter that satisfies the
requirements of §551.086(b)(3). The vote shall be taken during the Closed
Meeting and shall be included in the certified agenda of the Closed Meeting. If
the City Council fails to determine by a majority vote that the particular agenda
item satisfies the requirements of §551.086(b)(3), the City Council may not
deliberate or take any further action on that agenda item in the Closed Meeting.]
A.DELIBERATIONS REGARDING CERTAIN PUBLIC POWER UTILITIES:
COMPETITIVE MATTERS – UNDER TEXAS GOVERNMENT CODE
SECTION 551.086.
1.Receive a presentation and information from staff pertaining to the Denton
Municipal Electric (“DME”) Proposed Annual Budget for the Fiscal Year
2007-2008, consisting of competitive electric and commercial information
respecting the details of the present and future operational and financial
plans and strategies of DME; and discuss, deliberate, consider, and
provide Staff with direction regarding such matters.
CERTIFICATE
I certify that the above notice of meeting was posted on the bulletin board at the City Hall of the City of Denton,
Texas, on the _________ day of ___________________, 2007 at _________ o’clock (a.m.) (p.m.)
____________________________________
CITY SECRETARY
NOTE: THE CITY OF DENTON CITY COUNCIL WORK SESSION ROOM IS ACCESSIBLE IN
ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT. THE CITY WILL PROVIDE SIGN
LANGUAGE INTERPRETERS FOR THE HEARING IMPAIRED IF REQUESTED AT LEAST 48 HOURS IN
ADVANCE OF THE SCHEDULED MEETING. PLEASE CALL THE CITY SECRETARY'S OFFICE AT 349-
8309 OR USE TELECOMMUNICATIONS DEVICES FOR THE DEAF (TDD) BY CALLING 1-800-RELAY-TX
SO THAT A SIGN LANGUAGE INTERPRETER CAN BE SCHEDULED THROUGH THE CITY
SECRETARY'S OFFICE.
AGENDA INFORMATION SHEET
AGENDA DATE:
July 25, 2007
DEPARTMENT:
Finance
ACM:
Jon Fortune
______________________________________________________________________________
SUBJECT
Receive a report, hold a discussion and give staff direction on the 2007-08 Budget and Five-Year
Financial Forecast.
BACKGROUND
It is my pleasure to provide to you the preliminary 2007-08 Budget and Five-Year Financial
Forecast. The information is summarized in the attached power point presentation that will be
presented to you on July 25, 2007. The information provided has been derived from a
culmination of input from the Audit/Finance Committee, City Manager, service level demands,
department requests, and miscellaneous economic assumptions. The presentation includes
summary information concerning the following items:
Preliminary 2006-07 year-end revenue and expenditure estimates
Preliminary 2008-2012 financial forecast
Preliminary 2008 proposed tax rate
Preliminary 2007-08 proposed budgets (including service enhancements)
Preliminary 2010-14 planned capital improvement bond program
Preliminary 2007-08 Utility Budgets and rates
Budget calendar for the remainder of the year
This information should be viewed as preliminary. The primary assumption that impacts the
the City will receive the final certified level of assessed valuation. Only then will we be able to
finalize these documents and produce a proposed budget and tax rate to be presented to the City
Council on July 31.
As you review the information you will note the following major items. Specific information
concerning each item will be discussed during the presentation.
Conservative estimate used to project ending 2006-07 year-end General Fund balance
Balanced budget for 2007-08
Assumed appraised value growth of 11% in 2008
Conservative outlook for the Five-Year Financial Forecast
2008 tax rate increase of $.04 per $100 valuation
$.03 for debt service associated with the 2005 bond program
Î
$.01 increase for new drainage projects
Î
Comprehensive service enhancements in Drainage, Building Inspections, Code
Enforcement, Streets & Traffic, Parks, Public Safety, Water and other miscellaneous
areas
2010-2014 planned bond program in the range of $50-60 million. Next bond election in
November of 2009
Three percent (3%) rate increase for Water
No increase in Solid Waste rates for residential cart service, commercial, or multifamily
recycling. Residential recycling increase of $.50 per month
No rate increases for Wastewater
No Drainage fee increase
No base rate increase for Electric
PRIOR ACTION/REVIEW (Council, Boards, Commissions)
The Audit/Finance Committee has met on the following dates:
February 19, 2007 discussed 2007-08 Budget Calendar
April 3, 2007 discussed preliminary Five-Year Financial Forecast
May 15, 2007 discussed 2007-08 Budget and Five-Year Financial Forecast
July 17, 2007 discussed 2007-08 Budget and Five-year Financial Forecast
EXHIBITS
1. Power Point Presentation 2007-08 Budget and Financial Forecast
Respectfully submitted,
Jon Fortune
Assistant City Manager
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