Page 62 - Grapevine FY20 Approved Budget
P. 62

Fund Balance Summary

               The General  and Debt  Service funds  each have a fund balance requirement of 20% of net
               operating expenditures, the equivalent of 72 days of operations.  The General fund meets the
               balance requirement  each of the three  years, with funds in excess of the 20%  requirement
               transferred to the QOL fund.  The Debt Service fund also exceeds the 20% requirement each of
               the three years.  The Capital / Street Maintenance fund does not currently have a fund balance
               requirement, as its sole sources of revenue are operating transfers and interest earnings.

                                    GENERAL GOVERNMENT FUND BALANCE SUMMARY

                                                  2017-18   2018-19   2019-20   2020-21   2021-22   2022-23
                                                   Actual   Estimate  Approved  Projected  Projected  Projected

                GENERAL FUND
                 Beginning Balance                11,452,240  12,851,591  15,787,768  15,787,768  15,512,181  14,742,438
                 Net Operating Surplus / (Deficit)  3,071,694  2,936,177     0   (275,587)  (769,743) (1,413,929)
                 Ending Balance                   14,523,934  15,787,768  15,787,768  15,512,181  14,742,438  13,328,508

                 Percentage of Operating Expenditures  21%      29%       26%       25%       23%       20%
                 Days of Operation                      78       104        95       90        83        72

                 FUND BALANCE REQUIREMENT         11,918,196  10,880,711  11,941,912  12,380,078  12,836,552  13,311,091
                 Fund balance requirement is 20% of total budgeted expenditures (72 days of operation).


                DEBT SERVICE FUND
                 Beginning Balance                10,922,692  8,918,781  7,717,038  7,620,166  9,887,267  13,107,126
                 Net Operating Surplus / (Deficit)  (2,003,911) (1,201,743)  (96,872)  2,267,101  3,219,859  2,586,693
                 Ending Balance                   8,918,781  7,717,038  7,620,166  9,887,267  13,107,126  15,693,819

                 Percentage of Operating Expenditures  54%      35%       49%       60%       93%      115%
                 Days of Operation                     196       128       177       219      338       421

                 FUND BALANCE REQUIREMENT
                 Fund balance requirement is 20% of total budgeted expenditures (72 days of operation).


                CAPITAL / STREET MAINTENANCE FUND
                 Beginning Balance                  836,677  1,102,856  785,856   809,856   809,856   809,856
                 Net Operating Surplus / (Deficit)  266,179  (317,000)   24,000        0         0        0
                 Ending Balance                   1,102,856   785,856   809,856   809,856   809,856   809,856

                 FUND BALANCE REQUIREMENT  ---  NONE




















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