Page 62 - Mansfieldr FY20 Approved Budget

General Fund Strategic Plan Summary

2020 2021 2022 2023 2024
Budgeted Projected Projected Projected Projected
BEGINNING FUND BALANCE $ 17,261,824 $ 18,468,449 $ 19,815,761 $ 21,181,382 $ 22,772,656
REVENUES:
Ad Valorem Taxes $ 39,607,976 $ 42,776,720 $ 46,719,489 $ 50,615,451 $ 54,841,447
Sales and Use Taxes 13,167,875 14,239,626 14,951,607 15,699,188 16,484,147
Franchise Taxes 6,414,079 6,606,501 6,804,696 7,008,837 7,219,102
Licenses and Permits 2,191,069 2,191,069 2,191,069 2,191,069 2,191,069
Fines and Forfeitures 2,059,279 2,100,465 2,142,474 2,185,323 2,229,030
Interfund Transfer 1,905,711 1,990,834 2,078,676 2,170,295 2,266,809
Other Revenue 2,901,382 2,959,410 3,018,598 3,078,970 3,140,549
TOTAL REVENUE: 68,247,371 72,864,625 77,906,610 82,949,133 88,372,153
Percentage Change 10% 6% 6% 6% 6%

EXPENDITURES:
General 3,674,580 3,896,742 4,134,398 4,388,784 4,661,244
Business 5,925,062 6,225,624 6,543,835 6,880,929 7,238,238
Police 21,927,899 24,093,527 26,343,870 28,812,843 31,522,051
Fire 16,007,121 17,558,932 18,472,570 19,436,437 20,453,540
Planning 4,630,867 4,923,290 5,237,054 5,573,925 5,935,826
Public 5,557,952 6,106,646 6,662,513 7,016,756 7,393,558
Community 4,992,405 5,293,017 5,614,865 5,959,676 6,329,331
Other 4,324,860 3,419,536 3,531,882 3,288,508 3,409,017
TOTAL EXPENDITURES: 67,040,746 71,517,313 76,540,988 81,357,859 86,942,805
BOND COVENANTS 1,206,625 1,347,312 1,365,622 1,591,274 1,429,348
PROJECTED FUND BALANCE $ 18,468,449 $ 19,815,761 $ 21,181,383 $ 22,772,656 $ 24,202,004
Target Fund Balance: 25% 17,879,328 19,135,247 20,339,465 21,735,701 23,140,741
Surplus/(Deficit) $ 589,120 $ 680,514 $ 841,918 $ 1,036,955 $ 1,061,264

DEBT SERVICE:
Property Taxes $ 15,416,960 $ 16,557,224 $ 17,683,684 $ 18,942,734 $ 20,088,407
Debt Ratio - % of Tax Rate 32% 31% 30% 30% 30%
Debt Ratio - % of Total Budget 18% 19% 19% 19% 19%

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