The City of Clayton Board of Aldemen Tuesday unanimously approved a measure to amend the Fiscal Year 2012 budget.
According to the ordinance, "the City of Clayton reviews and makes adjustments to its revenues and expenditures on a quarterly basis to respond to changes as the fiscal year progresses. As part of the quarterly budget review, staff is presenting for your consideration the final amendment to the Fiscal Year (FY) 2012 budget."
The amendments are summarized in the table below:Amended Budget to Date 4th Quarter Amendment Requested Amended Budget After Amendment Beginning Fund Balance $73,394,907
$73,394907 Revenues $67,400,935 ($4,648,800) $62,752,135 Expenditures $74,499,881 ($7,026,688) $67,473,193 Ending Fund Balance $66,295,961 $2,377,888 $68,673,849
Highlights of the budget changes include:
General Fund —
Revenue - $523,800 Decrease
- Property tax receipts were less than projected by approximately $200,000 due to economic conditions.
- Building permit activity was lower by $100,000 due to economic conditions.
- Electric, Natural Gas and Telephone utility taxes were less than projected for a total of $380,000. The electric and natural gas reduced receipts were due to fluctuations in the weather.
- City Sales tax receipts were greater than planned by $220,000.
- Shaw Park Aquatics daily admissions and family passes were stronger than planned by a total of $19,000.
- The Tennis Center was closed for most of the season due to reconstruction of the courts and normal tennis activity did not occur which reduced revenue by $44,800.
- Sports programs were strong as the Boot Camp fitness program, and both adult and youth league activity were greater than planned by a total of $35,000.
- The City has an agreement for services with Washington University and this agreement was enhanced with the last renewal generating $60,000 in additional funds. The City has a voluntary payment in lieu of taxes agreement with Concordia Seminary and this year’s payment was reduced, as per the agreement, by $17,000 for qualifying fire prevention activities.
- Traffic fines and related court fees were less than planned by $80,000.
- Due to low interest rates, the interest revenue from investments was lower than planned by $50,000.
- Ambulance transport revenue was greater than planned by $30,000.
- The Special Business District reimburses the City for costs related to certain events and activities and the reimbursement needed for this year’s activities was $16,000 less than planned.
Expenditures - $86,600 Increase
- Legal services and litigation were greater than planned by approximately $50,000.
- Under the previous banking services contract, no service charges were received. When this contract was extended (and also with the next bid) the City will now experience service charges. This increase for FY 12 was approximately $15,000.
- Fire Department full-time salaries were more than planned due to hiring early for a retirement and to cover military leave, and overtime was higher than planned due to multiple injuries. The effect of both of these items was approximately $32,600.
- Tree grates which were intended to be purchased last fiscal year in the amount of $6,000 will now be purchased in FY 13.
- The City experienced strong participation in fitness classes, especially Boot Camp, of $10,000. This increased expenditure is offset by additional revenue.
- Park watering was over budget by $12,000 due to the extreme drought.
- Tennis program expenditures of $27,000 were not needed due to the reconstruction of the tennis courts.
Equipment Replacement Fund
Expenditures - $300,000 Decrease
- A portion of the computer network infrastructure enhancements and the phone system were not received until FY 13.
Capital Improvement Fund
Revenue -$4,125,000 Decrease
- Projects with related federal grant reimbursements of approximately $2,100,000 have been delayed until FY 13.
- Bonds were issued in FY12 for several projects and some of these projects in the amount of approximately $2,025,000 were planned for FY 12, but now will occur in FY 13.
Expenditures - $4,983,500 Decrease
- Several Public Works projects proceeded slower than planned and the budget will be reduced in FY12 and increased for FY 13 to complete these projects. The total amount of projects reduced for FY 12 is $2,665,000. In addition the Washington University Pedestrian Underpass project proceeded faster than planned and the budget is being increased by $105,000 for this project.
- The Police Building improvements are being completed in FY13 and the FY12 budget can be reduced by $1,960,000.
- Several parks projects will now be completed in FY 13 and the Hanley House tuckpointing was under budget. The total amount of reduced expenditures for FY 12 is $463,500.
Debt Service Funds
Expenditures - $1,813,788 Decrease
- Small debt service expenditures were incurred and need to be budgeted in various debt service funds for a total amount of $1,500.
- Bonds were issued in November 2011 and this budget amendment accounts for the recording of the bond issuance expense and one bond interest payment occurring in FY 12.
- These same bonds were for several large capital projects. Some of those projects are delayed and the funds will not be spent until FY 13 and the transfer of $2,025,000 is not needed.