Page 18 - Manfield FY21 Budget

GENERAL FUND

Revenues
The overall General Fund budget for FY 2020-2021 is $71,031,853 or an increase of 4.1% over expected
revenues in FY 2019-2020. Property tax collections make up approximately 58% of the General Fund
operating revenue. Property tax revenue increased $2,535,460 which includes an increase of $1,065,385
in the Debt Service Fund. A 10% Homestead exemption and a 2-cent property tax reduction reduced
property taxes in the General Fund by approximately $4,374,368. Revenue increases include sales tax,
franchise tax, permits and other miscellaneous revenues. Projected sales tax revenues increased $517,793,
or 4% and Franchise Tax increased $724,524 or 10%.

Staffing
The 2020-2021 Service Plan includes the addition of one firefighter, four police officers and 12 positions
transferred from the Law Enforcement Center enterprise fund. Other staffing changes occurred as a result
of consolidation and reorganization. Overall, salaries and benefits increased 12.2% or $5,711,377 due to
cost of living increases, merit increases, deferred compensation buyback program, the addition of
positions in the General Fund and increases in post-employment benefits.

Operations and Maintenance
Operating and Maintenance costs decreased 8.42% due to reduced jail operating costs, realignment of
departments and programs and other operating efficiencies.

Transfers
Transfers are estimated to be $719,068 for the City’s property insurance program, $499,592 for the
Fieldhouse USA project, and $1,535,772 to the equipment replacement fund.

Equipment
In addition to the General Fund transfer of $1,535,772 for public safety vehicles, technology upgrades and
facility improvements, the City will finance approximately $1,214,720 in equipment to include
replacement fire apparatus and a new online permit system.

Debt
The General Obligation Debt payment is $16,482,315. The total outstanding General Obligation Debt is
$152,745,000. The City has made a conscious effort to reduce the overall debt ratio. Management and
City Council are working to reduce the costs of infrastructure improvements through the use of impact
fees and developer contributions.

18