Page 56 - Manfield FY21 Budget

General Fund Strategic Plan Summary

2022
2021
2024
2025
2023
General Fund Budgeted Projected Projected Projected Projected
BEGINNING FUND BALANCE $ 18,500,000 $ 18,500,000 $ 18,894,973 $ 19,290,791 $ 20,360,774
REVENUES:
Ad Valorem Taxes $ 41,077,151 $ 42,502,429 $ 43,199,397 $ 45,236,340 $ 46,301,601
Sales and Use Taxes 13,733,261 14,419,924 15,140,920 15,897,966 16,692,865
Franchise Taxes 7,138,603 7,352,761 7,499,816 7,649,813 7,802,809
Licenses and Permits 1,931,400 1,723,500 1,895,850 1,895,850 1,982,025
Fines and Forfeitures 2,093,639 2,135,512 2,178,222 2,221,786 2,266,222
Interfund Transfer 2,295,947 2,318,907 2,342,096 2,365,516 2,389,172
Other Revenue 2,761,852 2,817,090 2,873,432 2,930,902 2,989,518
TOTAL REVENUE: 71,031,853 73,270,123 75,129,733 78,198,173 80,424,212
Percentage Change 4% 3% 2% 4% 3%

EXPENDITURES:
General 3,220,677 3,043,813 3,107,096 3,172,085 3,238,827
Business 6,150,421 6,355,531 6,479,785 6,607,003 6,737,260
Police 23,368,564 24,456,688 25,692,409 27,052,431 28,549,944
Fire 16,441,037 17,110,144 17,610,352 18,125,426 18,655,813
Planning 4,693,456 4,786,410 4,881,922 4,980,064 5,080,910
Public 5,272,147 5,602,147 5,712,107 5,824,695 5,939,978
Community 4,969,215 5,017,961 5,115,250 5,215,094 5,317,563
Other 6,916,336 6,502,456 6,134,994 6,151,392 6,166,993
TOTAL EXPENDITURES: 71,031,853 72,875,150 74,733,915 77,128,190 79,687,288
BOND COVENANTS - 394,973 395,818 1,069,983 736,924
PROJECTED FUND BALANCE $ 18,500,000 $ 18,894,973 $ 19,290,791 $ 20,360,774 $ 21,097,698
Target Fund Balance: 25% 18,218,787 18,683,479 19,282,047 19,921,822 20,606,780
Surplus/(Deficit) $ 281,213 $ 211,495 $ 8,744 $ 438,952 $ 490,918

DEBT SERVICE:
Property Taxes $ 16,482,315 $ 16,367,590 $ 16,570,659 $ 17,766,632 $ 18,091,244
Debt Ratio - % of Tax Rate 31% 31% 31% 31% 31%
Debt Ratio - % of Total Budget 19% 18% 18% 19% 18%

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