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SR-903-001 (2)
SCENARI01 CEMETERYIMAUSOLEUM INCOME, REVENUE AND EXPENSES PROJECTION SALES CEASE IN 2001-02; PRE•NEED BURIALS CONTINUE APPROXIMATELY 10-15 YEARS SECOND FLOOR OFFICElCONFERENCE ROOM NOT Bl11LT Fiscal Year Prindpal+ Growlh at 6.5 % Z Incomeal 3.5%peryear TotalOperating Revenues 3 Operaling Expenses 4 nil Sales 5 CIP Expenses Inc.& Rev Less Expenses (GeneralFund Loan) Intereslon Fund Balance 8 Cumulative SubsitlylSurplus 9 Loanlnlerest at 5% $ - $ (922,931) 1999-00 ' $ 8,893,947 $ 319,000 $ 520,000 $807,359 104 $65,500 6 $ (33,859) ~ $ (956,790) ($47,840~ 2000-01 10 $ 9,516,911 $ 333,092 $ 386,000 $813,300 100 $35,225 $ (129,433) $ (1,134,063) ($56,703) 2001-02 $ 10,165,109 $ 355,779 $ 49,400 $829,566 0 $142,491 $ (566,878) $ (1,757,644) ($87,882) 2002•03 $ t0,B25,841 $ 378,904 $ 49,894 $846,157 0 $73,705 $ (491,064) $ (2,336,590) ($116,829) 2003-04 $ 11,529,521 $ 403,533 $ ~ 50,393 $863,080 0 $83,357 $ (492,512) $ (2,945,931) ($147,297) 2004-05 $ 12,278,94D $ 429,763 $ 50,897 $880,342 4 $27,540 $ (427,222) $ (3,520,450) ($176,022) 2005-06 $ 13,077,071 $ 457,697 $ 51,406 $897,949 0 $83,050 $ (471,896) $ (4,168,368) ($208,418) 2006•07 $ 13,927,080 $ 487,448 $ 51,920 $915,908 0 $28,560 $ (405,100) $ (4,781,886) ($239,094) 2007•OS $ 14,832,341 $ 519,132 $ 52,439 $934,226 0 $57,570 $ (420,225) $ (5,441,206) ($2~2,060) 2008•09 $ 15,796,443 $ 552,875 $ 52,963 $952,911 0 $29,580 $ (376,652) $ (6,089,918) ($304,496) 2009-10 $ 16,823,212 $ 588,812 $ 53,493 $971,969 0 $30,090 $ (359,753) $ (6,754,t67) ($337,708) 2010-11 $ 17,916,720 $ 627,085 $ 54,028 $991,408 0 $30,600 $ (340,895) $ (7,432,770) ($371,638) 2011•12 $ 19,081,307 $ 667,846 $ 54,568 $1,011,236 0 $31,110 $ (319,932) $ (8,124,341) ($406,217) 2012-13 $ 20,321,592 $ 711,256 $ 55,114 $1,031,461 0 $31,620 $ (296,711) $ (8,827,269) ($441,363) 2013-14 $ 21,642,496 $ 757,487 $ 55,665 $1,052,090 0 $63,630 $ (302,568) $ (9,571,200) ($478,560) 2014-15 $ 23,049,258 $ 806,724 $ 56,222 $1,073,132 0 $32,640 $ (242,826) $ (10,292,587) ($514,629) 2015-16 $ 24,547,459 $ 859,161 $ 15,840 $1,094,595 0 $98,150 $ (317,744) $ (11,124,960) ($556,248) 2016-17 $ 26,143,044 $ 915,007 $ 15,998 $1,116,487 0 $33,660 $ (219,142) $ (11,90Q349) ($595,017) 2017•18 $ 27,842,342 $ 974,482 $ 16,158 $1,138,816 0 $101,170 $ (249,346) $ (12,744,713) ($637,236) 201&19 $ 29,652,094 $1,037,823 $ 16,320 $1,161,593 0 $102,680 $ (21Q129) $ (13,592,078) ($679,604) 201~20 $ 31,579,481 $1,105,282 $ 16,483 $1,184,825 0 $35,190 $ (98,250) $ (14,369,931) ($718,491) 2020-21 $ 33,632,147 $1,177,125 $ 16,648 $1,208,521 0 $35,700 $ (50,448) $ (15,138,876) ($756,944) 2021-22 $ 35,818,236 $1,253,638 $ 16,814 $1,232,691 0 $36,210 $ 1,551 $ (15,894,268) ($794,713) 2022-23 $ 38,146,422 $1,335,125 $ 16,983 $1,257,345 0 $108,720 $ (13,958~ $ (16,702,939) ($835,147) 2023-24 $ 40,625,939 $1,421,908 $ 17,152 $1,282,492 0 $37,230 $ 119,338 $ 2,983 $ (17,415,765) ($870,788) 2024-25 $ 4a,625,939 $4,062,594 $ 17,324 $1,308,142 0 $37,740 $ 2,734,036 $ 68,351 $ (15,484,166) ($774,208) 2025-26 $ 40,625,939 $4,062,594 $ 17,497 $1,334,305 0 $113,250 $ 2,632,536 $ 65,813 $ (13,560,025) ($678,001) 2026•27 $ 40,625,939 $4,062,594 $ 17,672 $1,360,991 0 $38,760 $ 2,680,515 $ 67,013 $ (11,490,498) ($574,525) 2027•28 $ 40,625,939 $4,062,594 $ 17,849 $1,388,211 0 $39,270 $ 2,652,962 $ 66,324 $ (9,345,737) ($467,287) 2028•29 $ 40,625,939 $4,062,594 $ 18,027 $1,415,975 0 $39,780 $ 2,624,866 $ 65,622 $ (7,122,536) ($356,127) 2029-30 $ 40,625,939 $4,062,594 $ 18,208 $1,444,294 0 $119,290 $ 2,517,217 $ 62,930 $ (4,898,515) ($244,926) 2030•31 $ 40,625,939 $4,~62,594 $ 18,390 $1,473,180 0 $40,800 $ 2,567,003 $ 64,175 $ (2,512,262) ($125,613) 2031-32 $ 40,625,939 $4,062,594 $ 18,574 $1,502,644 0 $41,310 $ 2,537,214 $ 63,430 $ (37,231) ($1,862j 2032•33 $ 40,625,939 $4,062,594 $ 18,759 $1,532,697 0 $41,820 $ 2,506,836 $ 62,671 $ 2,530,414 $126,521 ' Estlmated acluals ~ Beginning balance as of Jan. 2000; assumed grovAh of 6.5 % and 3.5% i~come to cemelery fund; after 2023-2410 % income to cemetery fund 3 Afler 2001•02, auumes revenues vAll be for marker setlings, disinlerments only (no sales~; by 2015-16 no marker sales when pre-need sites are filled; i%rate increase per year slarting in 2001-02. 4 Assumes 2Y in~ation factor on expenses from Years 2001-02 and beyond; No redudion in FTE's as pre-need burials, maintenance and husiness operalions will conGnue Supenntendent position will eventually be conveded inlo maintenance position(s). 5 Assumes no sales aRer 2000-01 6 CIP adopled butlgel for FY 1999-00 (E65,500); maintenance CtP projeds are estimated; na new inventory to be developed 7 Adopled budget General Fund loan is $149,710; does not include beginning fund balance 8 5% interest on fund balance for six months 9 Slading balance of $837,931 is General Fund subsidy approved in prior years (FY 97•98 $360,828 + FY 98-99 $477,103) less secontl Floor officelconterence room $205,000; plus Mausoleum electrical repair $290,000 pmject on hold due to budgel consVaints; 5% loan is compounded annually and added to subsidy ~~ Proposed FY 2000-01 butlget SCENARIO 2 CEMETERYIMAUSOLEUM INCOME, REVENUE AND EXPENSES PROJECTION ADD SECOND FLOOR; THREE PERMANENT FTE, NO PRE-NEED SALES, ELIMINATE ONE ADMIN FTE IN 2010•11 Fiscal Year Principal + Growlh at 6.5% Z Income at 3.5% per year Tolal Operaling Revenues 3 OperaGng Ezpenses " 4 nit Sales 5 CIP Expenses Inc.& Rev Less Expenses (General Fund Loan) Interest on Rev less Exp e Cumulati~e Su6sidy/SurpWs 9 Fund Balance or Loan Interest at 5% $ (3,137,931) n/a 1999-00 ' $ 8,893,947 $ 319,000 $ 52Q000 $ 807,359 110 $65,500 6 $ (33,859) ~ $ (3,171~,790) ($158,590) 2000-01 10 $ 9,516,911 $ 333,092 $ 389,860 $ 876,486 100 $35,225 $ (188,759) $ (3,519,139) ($175,957) 2001-02 $10,165,405 $ 355,789 $ 157,503 $ 894,016 40 $142,491 $ (523,214) ~ $ (4,218,310) ($210,915) 2002-03 $10,838,234 $ 379,338 $ 159,078 $ 911,896 40 $73,705 $ (447,184) $ (4,876,409) ($243,820) 2003•04 $11,554,917 $ 404,422 $ 160,669 $ 93Q134 40 $83,357 $ (448,4~0) $ (5,568,630) ($278,431) 2004-05 $12,318,307 $ 431,141 $ 162,276 $ 948,737 40 $27,540 $ (382,860) $ (6,229,921) ($311,496) 2005-06 $13,131,440 $ 459,600 $ 163,899 $ 967,711 40 $83,050 $ (427,262) $ ~6,968,679) ($348,434) 2006•07 $13,997,551 $ 489,914 $ 165,538 $ 987,066 40 $28,560 $ (360,174) $ (7,677,287) ($383,864) 2007-OS $14,920,086 $ 522,203 $ 167,193 $ 1,006,807 40 $57,570 $ (374,981) $ (8,436,132) ($421,807) 2008-09 $15,902,712 $ 556,595 $ 168,865 $ 1,026,943 40 $29,580 $ (331,063~ $ (9,189,002) ($459,450) 2009-10 $16,949,336 $ 593,227 $ 170,554 $ 1,047,482 40 $30,090 $ (313,791) $ (9,962,243) ($498,112) 2010-11 $18,064,121 $ 632,244 $ 172,259 $ 953,432 40 $30,600 $ (179,528) $ (10,639,884) ($531,994) 2011•12 $19,251,498 $ 673,802 $ 173,982 $ 972,500 40 $31,110 $ (155,826) $ (11,327,704) ($566,385) 2012-13 $20,516,186 $ 718,061 $ 175,722 $ 991,950 40 $31,620 $ (129,782) $ (12,023,871) ($601,194) 2013•14 $21,863,213 $ 765,212 $ 177,479 $ 1,011,789 40 $63,630 $ (132,728) ~ $ (12,757,793) ($637,890) 2014-15 $23,297,931 $ 815,428 $ 179,254 $ 1,032,025 40 $32,640 $ (69,984) $ (13,465,666) ($673,283) 2~15•16 $24,826,041 $ 868,911 $ 181,046 $ 1,052;665 40 $98,150 $ (100,858) $ ~14,239,807) ($711,990) 2016•17 $26,453,617 $ 925,877 $ 182,857 $ 1,073,719 40 $33,660 $ 1,354 $ (14,950,443) ($747,522) 2017-18 $28,187,123 $ 986,549 $ 184,685 $ 1,095,193 40 $101,170 $ (25,129) ~ $ (15,723,094) ($786,155) 2~18-19 $30,033,448 $ 1,051,171 $ 186,532 $ 1,117,097 40 $102,680 $ 17,926 $ 448 $ (16,490,875) ($824,544) 2019•20 $31,999,925 $ 1,119,997 $ 188,397 $ 1,139,439 40 $35,190 $ 133,766 $ 3,344 $ (17,178,309) ($858,915) 2020-21 $34,094,367 $ 1,193,303 $ 190,281 $ 1,162,228 40 $35,700 $ 185,656 $ 4,641 $ (17,846,926) ($892,346) 2~21-22 $36,325,091 $ 1,271,378 $ 192,184 $ 1,185,472 40 $36,210 $ 241,880 $ 6,047 $(18,491,345) ~$924,567) 2022-23 $38,700,959 $ 1,354,534 $ 194,106 $ 1,209,182 40 $108,720 $ 230,738 $ 5,768 $ (19,179,406) ($958,970) 2023•24 $41,216,521 $ 1,442,578 $ 196,047 $ 1,233,365 40 $37,230 $ 368,030 $ 9,201 $ (19,761,146) {$988,051) 2024-25 $41,216,521 $ 4,121,652 $ 198,008 $ 1,258,033 40 $37,740 $3,023,887 $ 75,597 $ (17,649,719) ($882,486) 2025-26 $41,216,521 $ 4,121,652 $ 199,988 $ 1,283,193 40 $113,250 $2,925,196 $ 73,130 $ (15,533,879) ($776,694) 2026-27 $41,216,521 $ 4,121,652 $ 2~1,987 $ 1,308,857 40 $38,760 $2,976,022 $ 74,401 $ (13,260,150) ($663,007) 2027•28 $41,216,521 $ 4,121,652 $ 204,007 $ 1,335,034 40 $39,270 $2,951,355 $ 73,784 $ (10,898,018) ($544,901) 2~28-29 $41,216,521 $ 4,121,652 $ 206,047 $ 1,361,735 40 $39,780 $2,926,185 $ 146,309 $ (8,370,426) ($418,521) 2029-30 $41,216,521 $ 4,121,652 $ 208,108 $ 1,388,970 40 $119,290 $2,821,500 $ 141,075 $ (5,826,372) ($291,319) 2030-31 $41,216,521 $ 4,121,652 $ 210,189 $ 1,416,749 40 $40,800 $2,874,292 $ 143,715 $ (3,099,684) ($154,984) 2031-32 $41,216,521 $ 4,121,652 $ 212,291 $ 1,445,084 40 $41,310 $2,847,549 $ 142,377 $ (264,741) ($13,237) 2032•33 $41,216,521 $ 4,121,652 $ 214,414 $ 1,473,986 40 $41,820 $2,820,260 $ 141,013 $ 2,683,295 $134,165 ' Estimated Actuals Z 8eginning balance as of Jan.2000; assumetl growth of 6.5% and 3.5% income to cemetery fund; after 2023-2410 % income to cemetery fund 3 SlarVng in FY 2000-U1, assume averege 1% revenue rate inaease per year 4 The following budget enhancements are included in FY 2000-01: Delete 2.0 as•needed and add 2.0 permanenl MW1 $ 22,616 Add 1.0 FTE MW1 $ 40,570 Tolal FY 2DOD-01 hudget enhancemenls: $ fi3,186 (on-going ezpense induded in following years) Assumes 2~ in0ation factor on er.penses from Years 2001-02 through 203233; Cemetery Supt. Posilion deleled in 2010-11 5 No pre•need sales aRer 2000-01 6 CIP adopled budgel for FY 1999-00 ($65,500); mainlenance CIP projecls are eslimated; no new inventory to he develaped ~ 5149,710 budgeted tor General Fund Loan; does not indude beginning fund balance 8 Assumes 5~ inleresl far 6 monlhs when fund balance is positive and 6alance on loan. Assumes 5Y for full year when funtl balance is posilive and loan is repaid 9 StaRing balance of 31,127,931 is General Fund subsidy approved in prior years (FY 97•98 $360,828 +FY 98•99 $477,103) plus FY 1997~98 and 1996-99 Mausoleum EleMncal Repair project on holtl due due lo budget restrainls, and an addilional $101,0~0 for second Floor addition; 5~ interest compounded annually is added to Ihe subsitly amount ~~ Proposed FY 2D00-01 budget sceNaRio 3 CEMETERYJMAUSOLEUM INCOME, REVENUE AND EXPENSES PROJECTION ADD SECOND FLOOR; THREE PERMANENT FTE, SALES REMAIN AT CURRENT LEVEL Inc.B Rev Less Fiscal Principal+ 2 Incomeat TolalOperaling Operating CIP Expenses (GeneralFund Intereston Cumulative Year Growih a~ 6,5% 3.5% peryear Revenues 3 Expenses 4 Unit Sales 5 Expenses Loan) Rev less Exp 8 Suhsidy/Surplus 9 1999-00 ~ 10 $ 8,893,947 $ 319,000 $ 520,000 $ 807,359 110 $65,500 6 $ 33,859 ~ ( ) $ (1,328,931) $ (1 362 790) 2000-01 200t-02 $ 9,505,685 $10 153 748 $ 332,699 $ 355 381 $ 389,860 $ 393 759 $ 876,486 100 $35,225 $ (189,152) , , $ (1,620,082) 2002-03 , , $10,844,237 , $ 379,548 , $ 397,696 $ 894,016 $ 911 896 100 10~ $142,491 $73 705 $ (287,367) $ 208 356 $ (1,988,452) 2003-04 2 $11,579,912 $ 405,297 $ 401,673 , $ 93D,134 100 , $83,357 ( , ) $ (206,521) $ (2,296,231) $ (2 617 564) 004-05 2005-06 $12,363,715 $13 198 776 $ 432,730 $ 461 957 $ 405,690 $ 409 747 $ 948,737 $ 967 711 100 $27,540 $ (137,857) , , $ (2,gg6,2gg~ 20~6•07 20 7 , , $14,088,430 , $ 493,095 , $ 413,844 , $ 987,066 100 100 $83,050 $28,560 $ (179,057) $ (108,686) $ (3,209,672) $ (3 478 841) 0 -08 2008•09 $15,036,229 $16 045 955 $ 526,268 $ 561 608 $ 417,983 $ 422 163 $ 1,006,B07 100 $57,570 $ (120,126) , , $ (3,772,910) 2009-10 , , $17,121,637 , $ 599,257 , $ 426,384 $ 1,026,943 $ 1,047,482 100 100 $29,580 $30 090 $ (72,752) $ (51 930) $ (4,034,307) 2010-11 2011 $18,267,566 $ 639,365 $ 430,648 $ 1,068,432 100 , $3D,600 , $ (29,019) $ (4,287,953) $ (4 531 370) •12 2 $19,488,310 $ 682,091 $ 434,954 $ 1,089,800 100 $31,110 $ (3,865) , , $ (4 761 803) 012-13 2013•14 $20,788,736 $22 174 026 $ 127,606 $ 776 091 $ 439,304 $ 1,111,596 100 $31,620 $ 23,694 $ 592 , , $ (4,975,607) 2014-15 , , $23,649,701 , $ 827,740 $ 443,697 $ 448,134 $ 1,133,828 $ 1 156 505 100 100 $63,630 $32 640 $ 22,330 $ 86 729 $ 558 $ (5,201,499) 2015-16 201 $25,221,638 $ 882,757 $ 452,615 , , $ 1,179,635 100 , $98,150 , $ 57,588 $ 2,168 $ 1,440 $ ~5,372,677) $ (5 582 284) 6-17 2017•18 $26,896,098 $28,679,749 $ 941,363 $ 1 003 791 $ 457,142 $ 461 713 $ 1,203,227 $ 1 227 292 100 10 $33,660 $ 1fi1,617 $ 4,040 , , $ (5,695,740) 2018-19 2 $30,579,690 , , $ 1,070,289 , $ 466,330 , , $ 1,251,838 0 100 $101,170 $102,680 $ 137,042 $ 182,101 $ 3,426 $ 4 553 $ (5,840,059) $ (5 945 408) 019-20 2020-21 $32,603,486 $34,759,190 $ 1,141,122 $ 1 216 572 $ 470,993 $ 475 703 $ 1,276,875 $ 1 302 412 100 100 $35,190 $ 300,051 , $ 7,501 , , $ (5,935,126) 2021•22 2 $37,055,379 , , $ 1,296,938 , $ 480,460 , , $ 1,328,460 100 $35,700 $36,210 $ 354,1fi3 $ 412,728 $ 8,854 $ 10 318 $ (5,868,865) $ (5 739 262) 022•23 2023-24 $39,501,188 $42,068,766 $ 1,382,542 $ 1 472 407 $ 485,265 $ 490 118 $ 1,355,030 $ 1 382 130 100 100 g~ae,720 $ 404,057 , $ 10,101 , , $(5,612,067) 2024-25 2~2 $42,068,766 , , $ 4,206,877 , $ 495,019 , , $ 1,409,773 100 $37,230 $37,740 $ 543,164 $ 3,254,383 $ 13,579 $ 81 360 $ (5,335,927) $ (2 266 981) 5-26 2026-27 $42,068,766 $42 068 766 $ 4,206,877 $ 4 206 $ 499,969 $ 1,437,968 100 $113,250 $ 3,155,627 , $ 78,891 , , $ 854,188 2027•28 , , $42,068,766 , ,877 $ 4,206,877 $ 504,969 $ 510,018 $ 1,466,728 $ 1,496,062 10a 100 $38,760 $39 270 $ 3,206,358 $ 3 181 563 $ 80,159 $ 79 539 $ 4,183,414 202&29 $42,068,766 $ 4,206,877 $ 515,118 $ 1,525,983 100 , $39,780 , , $ 3,156,232 , $ 157 812 $ 7,653,686 $11 350 414 2029-30 2030-31 $42,068,766 $42 068 766 $ 4,206,877 $ 4 206 877 $ 520,270 $ 1,556,503 100 $119,290 $ 3,051,353 , $ 152,568 , , $ 15,121,856 2031-32 , , $42,068,166 , , $ 4,206,877 $ 525,472 $ 530,727 $ 1,587,633 $ 1,619,386 100 100 $40,800 $41 310 $ 3,103,916 $ 3 076 908 $ 155,196 $19,137,060 2032-33 FslimalaA Arh~alc $42,068,766 $ 4,206,877 $ 536,034 $ 1,651,773 100 , $41,820 , , $ 3,049,317 $ 153,845 $ 152,466 $ 23,324,666 $ 27,692,683 2 Beginning balance as of Jan.2000; assumed growth of fi.5% and 3.5 % income to cemelery fund; aiter 2023-2410% income lo cemelery fund 3 Stading in FY 2000-01, assume average 1 k revenue rale increase per year ~ 4 The (dlowing butlgel enhancements are included in FY 2000-01: ~elele 2.0 as-needed and add 2.0 pemianenl MW1 $ 22,616 Add 1,0 FTE MWi $ 40,570 Total fY 2000-01 budget enhancements: a 63,186 ~on-going expense included in following years) Assumes 21 inflation facla on expenses (rom Years 2001-02 thmugh 203233 5 Assumes sales will remain ~at e CIP adopted budget far FY 1999-00 ($65,500); maintenance CIP projects are estimaled; no new inventory lo be developed 7$149,710 budgetetl for General Fund Loan; does not include beginning fund balance e Assumes 5%inlerest for 6 months when (und balance is positive and balance on loan. Assumes 5%for full year when fund halance is positive and loan is repaid 9 SlaRing balance of $1,127,931 is General fuod subsidy approved in prior years (FY 97-98 $360,828 + FY 98•99 $4~7,103) plus FY 1997-98 antl 1998-99 Mausoleum Electrical Repair project on hold due due lo budget restraints, and an atlditional $201,OD0 for second (loor addition; 5%inlerest compounded annually is added lo Ihe subsitly amount 10 Propasetl FY2000~01 budgei Fund Balance or Loan Interest al 5% nla ($68,140) ($81,004) ($99,423) ($114,812) ~$130,878) ($144,315) ($160,484) ($173,942) ($188,645) ($201,715) ($214,398) ($226,568) ($248,780) ($260,075) ($268,634) ($279,114) ($284,787) ($292,003) ($297,270) ($293,443) ($286,963) ($280,603) ($266,796) ($113,349) $42,709 $209,171 $382,684 $567,521 $756,093 $956,853 $1,166,233