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2017-2018 Budget

 
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Phyllis Savoy



Joined: 09 Feb 2007
Posts: 44

PostPosted: Thu Jun 08, 2017 7:46 am    Post subject: 2017-2018 Budget Reply with quote

The following budget information will be presented to the Mayor and Board of Aldermen at their June 12, 2017 meeting. A public hearing will be held on the budget. It is anticipated the budget will be adopted as presented. The public is invited to attend the meeting.

Sales Tax Jul '17 - Jun 18
Ordinary Income/Expense
Income
301.02 · Sales Tax Revenues 177,000.00
304.03 · Penalties & Interest 100.00
305.07 · Interest Income 800.00
Total Income 177,900.00
Expense
41300 · Bank Fees 240.00
41600 · Convention Expense 600.00
42200 · Dues & Fees 150.00
43300 · Insurance Expense 5,420.00
44200 · Legal & Accounting 6,500.00
45000 · Office Supplies 960.00
46300 · Salaries 7,900.00
46900 · Sales Tax Collection Expense 3,600.00
47200 · Payroll Taxes 650.00
Total Expense 26,020.00
Net Ordinary Income 151,880.00
Other Income/Expense
Other Expense
50200 · Transfers, General Fund 102,100.00
50300 · Transfers, Sewer Fund 43,000.00
50500 · Transfers, Law Enforcement 69,500.00
Total Other Expense 214,600.00
Net Other Income -214,600.00
Ending Balance -62,700.00

Estimated Fund Balance June 30, 2017:
$441,107.00

General Fund Budget, 2017-2018
Income
30101 · ad valorem taxes 18,000.00
30201 · licenses, liquor 1,435.00
30202 · licenses, insurance 30,000.00
30203 · licenses, occupational 20,000.00
30302 · beer taxes 3,640.00
30303 · 2% fire insurance tax 3,700.00
30304 · mosquito control tax 20,000.00
30307 · DHH Water Line Connection Loan
30307.1 · Village Sinking Fund 75,000.00
30311 · D.O.T.D. maintenance agreement 1,700.00
30403 · penalties 50.00
30501 · cablevision franchise 4,560.00
30502 · cleco franchise 31,000.00
30503 · Entex franchise 3,600.00
30504 · Lawco franchise 2,160.00
30506 · Water Plant lease 2,025.00
30507 · interest income 50.00
30600 · fire protection income 13,000.00
Total Income 229,920.00
Gross Profit 229,920.00
Expense
24000 · Bonds Payable, DHH 42,000.00
24001 · Interest Payable, DHH 24,000.00
24002 · Administrative Fee, DHH 4,030.00
24003 · LAWCO Collection fees, DHH 20.00
40100 · advertising 1,233.00
41300 · coroner 500.00
41600 · conventions & seminars 2,000.00
42000 · drainage improvements 60,000.00
42200 · dues & subscriptions 516.00
43300 · insurance 10,000.00
43302 · insurance, major medical 2,300.00
44200 · legal & accounting 10,000.00
44300 · mayor and council fees 20,100.00
44303 · insurance, workers comp 2,596.00
44600 · miscellaneous 50.00
45000 · office expense 2,500.00
45001 · office computer 3,000.00
45002 · LaMats collection fee 700.00
45100 · office r & m 900.00
45200 · mileage, clerk 700.00
45300 · postage 900.00
45400 · professional fees 4,800.00
46300 · salaries, clerk 15,600.00
47900 · utilities 7,080.00
48303 · contract labor, IPSO 60,000.00
48402 · fire dept. auto & truck 2,000.00
48403 · fire dept. insurance 10,200.00
48405 · fire dept. office supplies 250.00
48407 · fire dept. R & M 2,000.00
48410 · fire dept. Utilities 2,400.00
48501 · streets auto & truck 2,000.00
48502 · streets capital improvement 35,000.00
48504 · Street Meals/Inmates 4,320.00
48506 · street R & M 3,000.00
48507 · street salaries 35,400.00
48508 · street supplies 5,000.00
48509 · Payroll Taxes 4,930.00
48510 · street utilities 18,720.00
Total Expense 401,445.00
-171,525.00

Other Expense
50200 · Transfer from Sales Tax Fund 102,100.00
50300 · Transfer from Sales Tax-Police 69,500.00
Total Other Expense 171,600.00
-171,600.00
Ending Balance 75.00


Estimated Fund Balance, June 30, 2017 $302,053.75
Income

Sewer Fund Budget FY 2017-2018
Revenues:
31100 · Sewerage Service 82,000.00
31300 · Garbage Service 60,276.00
31400 · Sewerage Penalties 2,200.00
31600 · Fire Protection 13,000.00
31700 · Recycling Fees, Billing 0.00
32000 · Capital Improvement Income 0.00
Total Income 157,476.00
157,476.00
Expense
40200 · Sewer Analysis - DMR's 3,680.00
41400 · Chemicals and Chlorine 3,600.00
41500 · Capital Expenditures 0.00
41600 · Conventions & Seminars 250.00
41900 · Depreciation 59,284.00
42200 · Dues & Subscriptions 250.00
42500 · Fire Dept. Pmts Transfer to GF 13,000.00
43100 · Garbage Collection 55,236.00
43300 · Insurance 4,680.00
44200 · Legal & Accounting 5,700.00
45000 · Office Supplies 4,164.00
45200 · Permits 1,200.00
45400 · Professional Services 9,240.00
45500 · Recycling Fees. 0.00
45700 · Repairs and Maintenance 10,500.00
46300 · Salary Clerk 7,562.70
46400 · Salaries 9,312.00
46800 · Supplies 1,020.00
47200 · Payroll Taxes 1,320.00
47900 · Utilities 28,800.00
Total Expense 218,798.70
-61,322.70


50800 · Ad Valorem Taxes 18,565.00
51100 · Sales Tax Transfer 43,000.00
61,565.00
61,565.00
Ending Balance 242.30

Estimated Fund Balance, June 30, 2017: $47,050.54


June 12, 2017

Honorable Brad Clifton, Mayor
Honorable Eric Borne, Alderman
Honorable Joseph J. DeCourt, Alderman
Honorable Sandy Sonnier, Alderman
Dear Mayor and Board:
In accordance with statutory requirements, and as requested by the Mayor, I have outlined the following budget objectives and policies.
As the Village of Loreauville begins the 2017-2018 fiscal year with an estimated $790,211.29 in the fund balance, the budget is forecast to provide $583,861 (not including sales tax transfers) in estimated revenues to fund a comprehensive array of municipal services anticipated to cost the Village about $646,263.70 (not including sales tax transfers) thereby producing a year end unexpended Fund Balance estimated at $727,808.59.
In the proposed Sales Tax Budget, the Iberia Parish School Board will continue to collect the sales tax with the pro rated share of collection costs being deducted each month from the sales tax revenue. We do have budgeted transfers from the Sales Tax fund which total $214,600 an increase from the $97,100 originally budgeted last year. The general fund has the law enforcement transfer of $69,500 to be used for law enforcement purposes and an additional 102,100 transfer to balance the general budget. The sewer fund transfer is in the amount of $27,600 is to be used for operating and maintaining purposes.
Iberia Parish Sheriff, Louis Ackal is still allowing a deputy to bring several inmates into the village three days a week. The inmates are providing labor to the village with maintaining the sewer plant and the streets at no cost to the village other than their meals. The sewer plant is being monitored twice weekly by C & C Bio-Treatment and the lift pumps are being monitored weekly by Statewide Electric.
The law enforcement contract with Sheriff Ackal is still at the price of $60,000 annually. The difference in the contract price and the sales tax transfer amount of $69,500 is to reimburse the village expenses paid for sheriff’s deputy use of the town hall for office space.
The budget does reflect an increase in salaries, payroll taxes and workers compensation insurance for a part-time street maintenance worker.
The budget for fiscal year ending June 30, 2018 does provide $35,000 for sidewalk repairs and $60,000 of drainage improvement.
The enterprise fund (sewer, garbage, fire and recycling or waste pickup) is still being operated with monthly “user charges” plus the transfer of sales tax proceeds to meet the cost of operation. To habitually transfer sales tax revenues to an enterprise fund is no longer recommended. Sewer user fees are $3.75 per 1,000 gallons of water. Garbage fees are still $13.50 through the month of June, 2017. Fire protection fees are $3.00 and Waste Pickup (recycling) is still $2.00 through the month of June, 2017. The sewerage ad Valorem tax in 2016 was 5.0 mills. The total amount of the sewerage ad valorem tax was $18,675.91. The enterprise fund is not operating in the black unless sales tax funds are transferred. It is recommended to increase the sewer user fee rates during the coming fiscal year to begin elimination of the dependency on sales tax transfers to balance the enterprise fund budget. As the village is entering into a new intergovernmental agreement with Iberia Parish for garbage and curbside debris removal it is recommend to take the following action: Keep garbage fees at $13.50 which is the current price billed our customers for garbage pickup and to increase the Waste Pickup line item fee to $2.58. This places revenues at $16.08 with expenses through September at $15.95. ($11.41 garbage; $2.58 waste pickup and recycling $1.96.)
The Revolving Water Loan, funded through the Louisiana Department of Health and Hospitals (DHH) is now complete. The purpose of the DHH loan was to connect the village’s water system to the LAWCO New Iberia water system and to clean, repair and repaint the water tower. The bond re-payment expense has been added onto the Village’s portion of the LAWCO billings each month to each customer connected to the water system. This is providing the revenues to repay the loan. The fees at this time are still $14.75 for in-town customers and $16.75 for out-of-town customers. It is recommended to reduce these amounts once the village has paid additional principal on the loan.
Once the budget is adopted, it becomes the framework from which the Mayor and Board of the Village monitor revenues and control expenses. In addition, the budget shall constitute the authority of the Mayor to incur liabilities and authorize expenditures from the respective budgeted funds during the fiscal year.
The board will be notified in writing if any of the conditions described in La. Revised Statutes 39:1310 arise at any time during the year. Upon receipt of notification pursuant to R. S. 39:1310 or when there is a change in operations upon which the original adopted budget was developed, a budget amendment will be adopted at an open meeting to reflect this change. This budget amendment will not propose expenditures which exceed the total estimated funds available for the fiscal year. However, nothing will prohibit the expenditures of funds in cases of emergency.
It is my recommendation that the proposed budget be adopted. The proposed budget is balanced as required by the Louisiana Local Government Act. All other requirements of the act have been met in the budget preparations to date. If approved, this budget should be adopted as provided by our ordinance through the means of a resolution.
With kindest regards, I remain.

Sincerely yours,



Phyllis B. Savoy, MMC
Clerk/Tax Administrator
_________________
Phyllis Savoy
Clerk
Village of Loreauville, LA
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