Page 43 - City of Bedford FY20 Approved Budget

General Fund Long Range Budget Worksheet Report

2019 2019 2020 2021 2022 2023 2024
ADOPTED ESTIMATED ADOPTED
BUDGET AMOUNT BUDGET FORECAST FORECAST FORECAST FORECAST
REVENUES
OTHER FINANCING SOURCES
PROPERTY TAXES 14,589,640 14,606,042 17,243,982 17,430,432 17,288,468 17,127,836 17,378,827
SALES TAXES 7,905,000 8,505,000 8,505,000 8,765,025 8,943,265 9,079,384 9,171,167
FRANCHISE TAXES 3,173,000 3,173,457 2,843,000 2,818,390 2,815,786 2,818,441 2,821,781
MIXED BEVERAGE TAXES 230,000 243,124 235,000 242,050 249,312 256,791 264,495
MUNICIPAL FINES/FEES 1,950,600 1,463,950 1,767,600 1,719,500 1,672,796 1,627,447 1,583,413
RECREATIONAL REVENUE 771,350 734,315 716,350 724,130 995,282 1,268,230 1,802,859
EMERGENCY SERVICES REVENUE 1,535,000 1,625,261 1,625,000 1,626,050 1,627,132 1,628,245 1,629,393
LICENSES/PERMITS/REGISTRATIONS/INSPECTIONS 1,058,750 1,058,687 878,750 874,465 888,542 902,990 917,819
INTERGOVERNMENTAL 372,567 338,057 349,577 349,577 349,577 349,577 349,577
INTEREST INCOME 110,000 205,764 175,000 183,750 192,938 202,584 212,714
OPERATING TRANSFERS 2,981,218 2,974,211 3,153,177 3,153,177 3,153,177 3,153,177 3,153,177
OTHER 364,900 394,795 364,900 367,150 369,431 371,744 374,088
TOTAL REVENUES 35,042,025 35,322,663 37,857,336 38,253,696 38,545,704 38,786,445 39,659,309
EXPENDITURES
CITY COUNCIL 220,135 133,350 218,450 219,542 220,640 221,743 222,852
CITY MANAGER 722,933 758,131 745,337 768,765 796,161 825,515 856,409
CITY SECRETARY 290,419 292,036 296,626 304,831 314,405 324,649 335,422
COMMUNICATIONS - - 164,789 165,613 166,441 167,273 168,110
SUPPORT SVC - IT, HR, FLEET, FACILITIES , 3,119,884 3,057,454 3,527,931 3,583,780 3,647,481 3,715,048 3,785,664
,
,
CODE COMPLIANCE 1,174,982 1,095,935 1,675,931 1,711,878 1,753,466 1,797,829 1,844,372
PUBLIC SERVICES - STREETS / 1,013,383 789,518 939,248 958,701 981,090 1,004,949 1,029,966
/
TEEN COURT 2,856,312 2,945,029 2,798,293 2,835,561 2,877,055 2,920,871 2,966,524
POLICE 13,354,016 12,702,852 13,220,039 13,629,635 14,098,496 14,599,107 15,125,459
FIRE 7,911,843 8,218,770 7,889,836 8,579,829 8,821,167 9,128,779 9,389,925
LIBRARY 1,533,869 1,523,287 1,548,469 1,589,504 1,632,341 1,677,924 1,725,709
PARKS, RECREATION, AQUATICS, SENIOR CENTER 2,844,249 2,735,831 2,908,413 2,979,454 3,360,362 3,745,750 3,827,912
TOTAL EXPENDITURES 35,042,025 34,252,193 37,110,923 38,236,597 39,605,892 41,094,330 42,272,163
SURPLUS / (DEFICIT) $0.00 $1,070,470 $746,413 $17,099 ($1,060,188) ($2,307,885) ($2,612,854)

BEGINNING FUND BALANCE: $6,987,995 $6,987,995 $8,058,465 $8,804,879 $8,821,978 $7,761,789 $5,453,905
ENDING FUND BALANCE (Fund 101): $6,987,995 $8,058,465 $8,804,879 $8,821,978 $7,761,789 $5,453,905 $2,841,051
Actual Reserve % 19.94% 23.53% 23.73% 23.07% 19.60% 13.27% 6.72%
Reserve Requirement (20%) $7,008,405 $6,850,439 $7,422,185 $7,647,319 $7,921,178 $8,218,866 $8,454,433

(Short)/Over of Reserve Requirement ($20,410) $1,208,027 $1,382,694 $1,174,658 ($159,389) ($2,764,961) ($5,613,382)

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