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FY’16 budget presented to council

by | Aug 13, 2015 | Latest

By David Jenkins

Staff Writer

[email protected]

After months of work, the Murphy city council was presented Aug. 4 with the proposed fiscal year 2016 budget.

The proposed budget spans from Oct. 1, 2015, to Sept. 30, 2016, including the general fund and utility fund budget.

“This budget that is being presented to us is a result of conversations that city council and the staff has put together, and through budget workshops, strategic planning sessions,” City Manager James Fisher said.

The total requested budget for FY ’16 is $32,664,600, a decrease of 6.30 percent or $34,860,900 from the FY ’15 adopted budget.

Public hearings are 6 p.m. Aug. 18 and Sept. 1 at the council chambers, located at 206 N. Murphy Rd.

The complete proposed budget for FY ’16 can be viewed at the city’s website http://www.murphytx.org/107/Finance.

Click on 2015-’16 proposed budget and download PDF.

 

General fund

The general fund proposed revenues are budgeted at $13,312,800.

That includes the property taxes ($6,520,00), sales tax ($1,863,000), franchise tax ($1,023,600), permits and licenses ($530,000), fines ($300,000), other revenues ($1,035,000), solid waste ($915,000), court revenues ($300,000), transfer from utility fund ($850,000), transfer from court-restricted fund ($30,000) and transfer from reserves-vehicles ($246,200).

The proposed expenditures were $13,523,400.

The projected beginning fund balance for Oct. 1, 2015 was $3,046,203.

The projected ending fund balance at Sept. 30, 2016 was $2,589,403.

 

Murphy Community Development Corporation

The projected beginning fund balance was $450,710, total revenues of $931,800, total expenditures of $1,247,000 for an ending fund balance of $135,510.

 

Murphy Municipal Development District

The projected beginning fund balance was $1,749,940, total revenues for $934,300, $590,500 in total expenditures for an ending fund balance of $2,093,740.

 

Debt services fund

The projected beginning fund balance was $855,320, with $3,897,600 in total revenues, $3,877,400 in total expenditures for an ending fund balance of $875,520.

 

Capital improvement fund

The projected beginning fund balance came in at $240,192, with total revenues of $300 for a remaining fund balance of $240,492.

 

Capital construction fund

The projected beginning fund balance was $3,654,783, with total revenues of $2,000, total expenditures of $2,690,800 for an ending fund balance of $965,983.

 

Utility capital construction fund

The projected beginning fund balance was $1,653,656, with total revenues of $1,200, total expenditures of $1,591,000 for an ending fund balance of $63,856.

 

Impact fund

The projected beginning fund balance was $3,654,783, with total revenues of $2,000, total expenditures of $2,690,800 for an ending fund balance of $965,983.

 

Utility Fund

The total requested revenue for the utility fund included other, water and sewer revenues is  $7,892,200.

This compares to a projected FY 2015 total utility revenue of $7,380,900 by the end of September.

The proposed expenditures totaled out at $8,403,000.

 

North Texas Municipal Water District

The requested water rate was $2.34 per every thousand gallons used resulting in a 23-cent increase for FY ’16.

The city is required to purchase 384,066,000 gallons at a cost of $3,238,800 for FY ’16.

 

Operating capital

The general fund was proposed at $394,900 and the utility fund at $166,200.

 

Water rates

Proposed rates from the NTMWD are about 30 cents higher than the current rates for residential and sprinkler-irrigation.

Thus far, for FY ’15 water sales are approximately 27 percent below last year.

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