Page 66 - Benbrook FY2021

BUDGET SYNOPSIS

OPERATING FUNDS BUDGET

The 2020-21 Budget (General Fund and Debt Service Fund) is based on total revenues in the amount of $21,731,159 and expenditures in the
amount of $22,374,594. The 2020-21 Budget also includes the transfer of $22,439 from the Road Damage Fund to the General Fund, the
transfer of $733,366 to the Debt Service Fund from the Stormwater Utility Fund, the transfer of $501,203 to the Debt Service Fund from the
TIF Fund, and the transfer of $500,000 from the General Fund to the Capital Asset Replacement Fund.

Total revenues and transfers to the Operating Funds in the amount of $22,988,167 represent a net increase of $980,687 or 4.46 percent over
the 2019-20 re-estimate total of $22,007,480.

Total expenditures, transfers, and the use of General Fund reserves in the amount of $22,874,594 for 2020-21 represent a net increase of
$1,359,121 or 6.32 percent over the 2019-20 re-estimate total of $21,515,473.

EXPENDITURES BY CLASSIFICATION

PERSONAL SERVICES

Personnel expenditures are projected to increase by $1,518,090 from $14,048,031 in 2019-20 to $15,566,121 in 2020-21. This increase is
attributed to salary adjustments, and adjustments for insurance and fringe benefits.

The Budget includes funds for merit increases for those employees that are at steps one through six on the City’s seven step salary matrix;
employees are eligible for an up-to five-percent increase on their anniversary date.

Funds are also included in the Budget for an up-to twenty percent increase in employee health, dental, and life insurance premiums. Funds are
included for the increase of the City’s contribution rate for employee retirement, effective January 1, 2021, the current rate of 16.59 percent
increases to 16.74 percent; the employee contribution rate remains at 7.00 percent.

SUPPLIES AND MATERIALS

The cost of supplies and materials is projected to increase by $76,943 from the 2019-20 re-estimate of $723,317 to $800,260 in 2020-21.
The 2020-21 Budget includes funds for general office and operating supplies, postage, and other items for City departments.

Funds for the replacement of computers, monitors, peripherals, software, and other technology-related equipment are included in the Information
Technology Activity of the General Fund.

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