Town of Onancock Town Council Meeting February 12, 2018 6:00 p.m.  1. Call to Order and Roll Call 2. Pledge of Allegiance 3. Budget Workshop Session 4. Adjourn        S E    %        95585 5                            o  0o  S            FY19 Proposed Budget Totals General Fund Project Revenue: $1,421,885.19 Projected Expenditures: $1,339,700.07 Total Excess Expected: $82,185.12  Enterprise Fund Sewer: Projected Revenue: $991,150.00 Projected Expenditures: $928,569.92 Excess: $62,580.08 Water:  Projected Revenue: $336,750.00 Projected Expenditures: $371,458.42 Shortfall: $34,708.42 Total Excess Excepted: $27,871.66  FY19 Proposed Budget Assumptions  No salary increases across the board. 7% increase to water and sewer rates:  No taxi increases on real estate, personal property, meals tax and transient occupancy.  This was discussed last year as part of a four-year plan to make the plant self-funded Real Estate assessments decreased 0.11% and our trending collection rate for current real estate Wharf gas revenue is up this year but portion of that is due a non-recurring sale to the Army Personal Property projected collections have been adjusted to reflect the loss of Charter Transient dockage 33% increase due to increased fee minus loss of 4 slips (-5%) net up 28%  is at about 96% the proposed revenue has been adjusted accordingly. Corp of Engineers although revenue was up overall  Communications  New FT-Harbormaster position is only in budget at $30,000/year. VML Insurance - expected increase about 3% overall Retirement increased per department on average 120%  Health Insurance 10% increase  Not included to date:  Membrane Replacement - Public Works Belt Press - Public Works  Start setting aside funds for chipper and dump truck replacement/epairs-Public-Works  1    Town Code Codification - Administration  Software update for town finances and billing. Could use some Community Promotion money for this project = $26,000s startup. (Fee cheaper annually than current vendor once in place). - Total cost of some additional wharf improvements (ramp, parking lot, and electric pedestal  Administration upgrades) -V Wharf  2    TOWN OF ONANCOCK FEBRUARY 5, 2018  DRAFT FYE FINANCIAL STATEMENT REVIEW  Unqualified opinion with no deficiencies in internal controls noted Long term debt down $444K YOY, total debt down $425KYOY Total revenue up $126K to $2,219K due primarily to an increase in  Net increase in General Fund of $121K1 to $633K Unrestricted net assets up $100K to $1,087K  water/sewer revenue of $145K Total expenses flat YOY  Net position (netincome) improved to $13K versus ($114K) in 2016 Net position includes $493K in non-cash depreciation expense Water/sewer loss reduced from ($319K) in 2016 to ($121K) in 2017 Total cash on hand $1,278K in 2017 versus $1,166K in 2016 General fund revenue: $25K below budget, down $60K YOY due to State Water/sewer revenue up $146K YOY due primarily to a$136Kincrease in Sewer expenses down $55KY YOY due primarily to reductions in Contractual Tax collection $219K below budget but State/Fed funds received $174K above budget (Communications Tax and PPTRA). Ist this a classification issue Primary driver of tax collection drop was PPT, $74K below budget Total General Fund expenses only $9K above budget  revenue falling $114K sewer revenue  Services and "Other" expenses  in the budget?