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HomeMy WebLinkAbout96.PPP BudgetAssumptions Admin 2-11-15 �o�NS•{ S A N f Tq T��2 � � o Q � O - h Orange Budget Development Assumptions Economics • Inflation for Orange County is projected to be approximately 2.4% Revenue • Based on the March 2013 Board approved Five-Year Single-family residence (SFR) rate schedule, SFR is proposed to increase 2.2% in FY15-16 to $323. Reserves • Current reserve policy is unchanged Comparison of SFR Rates (July 2012) 11 $• 11 ZL 11 411 O L 11 N 11 ' 11 N ca Q 11 1 range County Sanitation District We're here for yot Operations • Average daily flow projections are projected to be 190 mgd for FY 2015-16 • All secondary treatment facilities are completed and fully operational • Operating expenses are expected to be proposed at $9 .4 M, or 6% less than the previously adopted FY 15-16 budget of $ 155 M due to the UAAL pay down of $ 125 M Staff i ng • No proposed changes in Staffing levels (626 FTE) • A 5% vacancy factor will be budgeted for authorized positions • S&P MOU calls for 2% salary adjustments in 14- 15 and 15-16. Pending the completion of OCEA and Local 501 bargaining unit negotiations, no salary adjustments are currently anticipated • Moderate increases in benefits are anticipated . Capital Improvement Program ( CIP) • Cash flow assumptions are based on the most recent validated CIP • Baseline CIP is $ 180.0 million for FY15-16 Debt Financing • Continue to issue COPS as the primary method of financing the capital program • No additional "new money" debt issuance is scheduled for FY 2015-16 Budget Summary Revenues FY 15-16 Fees and Charges $ 338M (77%) Property Taxes $ 82M (19%) Interest / Other 19M ( 4%) Total Revenues $ 439M Expenditures FY 15-16 Operating $ 155M (34%) CIP / RRR $ 207M (46%) Debt Service $ 87M (19%) Other 2M ( 1%) Total Outlays $ 451M Budget Development Key Meeting Dates • FY 15-16 Budget Assumptions February • Review of Revenues March • Review of Expenditures April Budget Development Key Meeting Dates • Operations Committee Budget Overview May, June • Administration Committee Budget Elements Review May, June • Board Meeting FY 15- 16 Budget Update Approval June Quest *ions Orange County Sanitation District We're here for you.