2011 Budget Doc-Final.pdf - Lehi City

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Financial Structure The various funds used for accounting and reporting purposes are the foundation of the City’s financial structure. In a like manner, the various departments within the City are the backbone of City operations. The City’s departments are groups of similar functions or programs which provide for efficient management. They also provide a framework for the budget which is conceptually easier to understand. As a result, most of this book consists of departmental sections with the detail of the budget. A brief narrative description of the funds that make up the City’s financial structure follows: Lehi City Fund Structure Lehi City Fund Structure Governmental Funds Governmental Funds Proprietary Funds Proprietary Funds General Fund General Fund Capital Project Capital FundProject Fund Special Revenue Special Funds Revenue Funds Redevelopment Agency Redevelopment Funds Agency Funds Enterprise Funds Enterprise Funds Internal Service Internal FundsService Funds Class C Roads Class C Roads Impact Fee Impact Funds Fee Funds Fire Fire Parks Parks Police Police Roads Roads Legacy Center Legacy Center Outdoor Pool Outdoor Pool IM Flash Micron IM Flash Area Micron Area Millpond Area Millpond Area Culinary Water Culinary Water Impact Fee Impact Fee Drainage Drainage Impact In Lieu Fee Impact Fee In Lieu Fee Fee Pressurized Irrigation Pressurized Irrigation Impact Fee Impact Fee Electric Electric Impact Fee Impact Fee Garbage Garbage Museum Museum Sewer Sewer Impact Fee Impact Fee Fleet Fleet IT IT Risk Management Risk Management Governmental Funds: General Fund: A fund that accounts for all financial resources necessary to carry out basic governmental activities for the City that are not accounted for in another fund. The General Fund supports essential City services such as police and fire protection, street maintenance, libraries and parks and open space maintenance. Revenues to support the General Fund are derived from sources such as property tax, sales tax, franchise tax and service fees. The Class C Roads Fund is closely related as it accounts for the State’s excise tax, which is used to assist in City street maintenance. Capital Project Fund: A fund used to account for financial resources to be used for the acquisition or construction of major capital improvement projects for specific governmental–type activities. Special Revenue Funds: Established to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. In Lehi City, the Legacy Center Fund, and the Outdoor Pool Fund both fall under this category of fund. Redevelopment Agency Funds: A fund to account for community redevelopment and economic development project areas, that are financed by incremental taxes collected for the properties in the development. The taxes are used to pay back debt created from improving the infrastructure for the project. The two areas in Lehi City with this designation are the IM Flash Micron Area and the Millpond Area. Proprietary Funds: Enterprise Funds: Funds used to account for operations that are financed and operated in a manner similar to private business enterprises, wherein the stated intent is that the costs (including depreciation) of providing goods and services are financed from revenues recovered primarily through user fees. Lehi City has seven enterprise funds. These funds are: the Culinary Water Fund, Pressurized Irrigation Fund, Sewer Fund, Electric Fund, Garbage Fund, Drainage Fund, and the John Hutchings Museum Fund. Internal Service Funds: Established to account for the financing, on a cost-reimbursement basis, of commodities or services provided by one program for the benefit of other programs within the City. The City maintains three Internal Service Funds to account for Fleet, IT and Self-Insurance/Risk Mgmt. activities. Page 15
Fund Balance and Reserves Utah state law allows cities to accumulate retained earnings or fund balances as appropriate in any fund (see U.C.A. 10-6-116). However, the law restricts balances in the general fund as follows: 1) Any fund balances less than 5% of estimated revenue may be used for working capital, certain emergency expenditures, or to cover an unexpected revenue shortfall that would result in a year-end excess of expenditures over revenues; 2) Fund balance greater than 5% but less than 18% may be used for budget purposes; and 3) Any fund balance in excess of 18% must be included in the appropriations of the next fiscal year. Lehi City accumulates fund balances in its various funds for the following purposes: • To avoid short-term debt that might be needed to provide working capital. • To meet unexpected expenditures as the result of an emergency. • To secure the City’s debt and its bond rating. • To accumulate funding for planned capital expenditures including the replacement of capital assets. • To meet reserve requirements for liabilities already incurred but not yet paid as is the case with the Risk Management Fund. All excess funds are invested consistent with the State Money Management Act. The resultant interest income is used as an additional revenue source in each fund. The chart below shows the history of the fund balance in the general fund. As is mentioned in the 4th bullet point above, the decrease in the fund balance during 2008 and 2009 is primarily due to the construction of the City’s Fire Station #2 and the major addition built on to City Hall; which were both paid for with cash reserves. $10,000,000 Ending General Fund Balance $8,000,000 $6,000,000 $4,000,000 $2,000,000 $- 1998 2000 2002 2004 2006 2008 2010 Budget Information Governmental Fund Balances Actual Actual Estimated Approved Fund FY 2008 FY 2009 FY 2010 FY 2011 General $ 5,422,787 $ 3,023,983 $ 3,564,071 $ 3,664,071 All Other Governmental Funds Redevelopment Agency 1,137,539 1,020,563 1,047,897 1,047,897 Special Revenue 136,127 31,376 31,376 31,376 Capital Projects 1,514,952 301,511 195,125 195,125 Total All Other Governmental Funds $ 2,788,618 $ 1,353,450 $ 1,274,398 $ 1,274,398 Total Governmental Funds $ 8,211,405 $ 4,377,433 $ 4,838,469 $ 4,938,469 Page 16
Page 1: FY 2011 Lehi City Annual Budget Fis
Page 4 and 5: The Government Finance Officers Ass
Page 7 and 8: Lehi City Budget Fiscal Year 2010-2
Page 9 and 10: Pioneering Utah’s Future viii
Page 11 and 12: Budget Message (cont.) Public Infra
Page 13 and 14: Budget Summary
Page 15 and 16: Budget Information Combined Fund Su
Page 17 and 18: Budget Summary Fund 10 - General Ac
Page 19 and 20: City-Wide Goals & Objectives Lehi C
Page 21 and 22: Citizen Priorities The following is
Page 23: Budget Process and Timeline Lehi Ci
Page 27 and 28: Revenue & Taxation Lehi City is fun
Page 29 and 30: Revenue & Taxation (cont.) Franchis
Page 31 and 32: Debt (cont.) 2003 Road Excise Tax B
Page 33 and 34: Non-Routine Capital Budget Summary
Page 35 and 36: Impact on the Operating Budget The
Page 37 and 38: Community Profile Lehi is located 1
Page 39 and 40: Community Profile (cont.) 1% 1% Leh
Page 41 and 42: General Fund (Department Detail) Pa
Page 43 and 44: Performance Measures & Analysis Mea
Page 45 and 46: Page 36
Page 47 and 48: Budget Information Administration A
Page 49 and 50: Department Organization Finance & A
Page 51 and 52: Budget Information Finance & Admini
Page 53 and 54: Department Organization City Record
Page 55 and 56: Budget Information (cont.) City Rec
Page 57 and 58: Performance Measures & Analysis Leg
Page 59 and 60: Policies & Objectives Justice Court
Page 61 and 62: Pioneering Utah’s Future Page 52
Page 63 and 64: Department Organization Planning &
Page 65 and 66: Budget Information Page 56 Planning
Page 67 and 68: Budget Information (cont.) Planning
Page 69 and 70: Policies & Objectives Community Dev
Page 71 and 72: Department Organization Economic De
Page 73 and 74: Department Organization Building &
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Budget Information (cont.) Building
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Budget Information Parks Actual Act
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A southwest-facing view of recent l
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Policies & Objectives - Continue to
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Department Organization Library Ass
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Policies & Objectives - Implement a
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Budget Information (cont.) Fee Info
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Policies & Objectives - Increase tr
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Department Organization Senior Citi
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Budget Information (cont.) Senior C
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Department Organization Fire & Emer
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Budget Information Fire & Emergency
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Budget Information (cont.) Fire & E
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Pioneering Utah’s Future Page 94
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Policies & Objectives Police, Code
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Budget Information (cont.) Animal C
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Department Organization Engineering
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Department Organization Public Work
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Department Organization Streets & R
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Budget Information Streets & Public
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Governmental Capital Projects and I
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Budget Information Fund 46 - Fire I
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A portion of the proposed Lehi 2300
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Department Organization Class “C
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Policies & Objectives - Maintain Le
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Budget Information (cont.) Fund 21
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Budget Information (cont.) Approved
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Outside view of the entrance to the
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Budget Information Fund 22 - Outdoo
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Enterprise Funds Page 132
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Department Organization Culinary Wa
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Budget Information Fund 71 - Culina
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Department Organization Pressurized
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Budget Information Fund 55 - Pressu
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The approved Site Plan drawings for
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Policies & Objectives - Maintain re
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Policies & Objectives - Implement r
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Budget Information Fund 78 - Paymen
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Department Organization Waste Colle
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Budget Information Fund 54 - Waste
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Department Organization Electric Po
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Policies & Objectives Electric - Re
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Policies & Objectives Museum - Incr
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Department Organization Fleet Fleet
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Department Organization Information
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Department Organization Risk Manage
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Budget Information Fund 60 - Millpo
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A ACCOUNTING PERIOD: A period of ti
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BUDGET CALENDAR: The schedule of es
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D DEBT SERVICE: Payment of interest
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G GAAP ADJUSTMENTS: Differences ari
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M MEASURE: A term referring to any
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PROGRAM: A group of related activit
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TAX RATE: The amount of tax levied
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Wage Actual Actual Estimated Planne
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2011 Budget Doc-Final.pdf - Lehi City

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