Page 57 - Manfield FY21 Budget

General Fund Strategic Plan Summary

2027
2026
2029
2028
2030
General Fund Projected Projected Projected Projected Projected
BEGINNING FUND BALANCE $ 21,097,698 $ 23,557,928 $ 28,287,768 $ 33,972,574 $ 41,033,174
REVENUES:
Ad Valorem Taxes $ 49,558,858 $ 53,906,304 $ 57,177,156 $ 61,546,910 $ 65,239,725
Sales and Use Taxes 17,527,508 18,403,883 19,324,077 20,290,281 21,304,795
Franchise Taxes 7,958,865 8,118,042 8,361,584 8,612,431 8,870,804
Licenses and Permits 2,068,200 2,191,069 2,191,069 2,191,069 2,212,980
Fines and Forfeitures 2,311,547 2,357,778 2,404,933 2,453,032 2,502,093
Interfund Transfer 2,413,063 2,437,194 2,461,566 2,486,182 2,511,043
Other Revenue 3,049,309 3,110,295 3,172,501 3,235,951 3,300,670
TOTAL REVENUE: 84,887,350 90,524,565 95,092,886 100,815,856 105,942,109
Percentage Change 5% 6% 5% 6% 5%
EXPENDITURES:
General 3,307,372 3,394,304 3,484,297 3,595,349 3,703,209
Business 6,870,632 7,025,200 7,184,301 7,367,556 7,588,583
Police 30,199,509 32,176,109 34,349,724 36,912,406 39,496,274
Fire 19,201,977 19,935,476 20,697,699 21,674,828 22,758,569
Planning 5,184,537 5,318,022 5,456,337 5,628,867 5,797,733
Public 6,058,022 6,193,948 6,327,374 6,481,000 6,610,620
Community 5,422,728 5,553,528 5,688,773 5,853,357 6,028,958
Other 6,182,343 6,198,138 6,219,575 6,241,893 6,257,498
TOTAL EXPENDITURES: 82,427,120 85,794,725 89,408,080 93,755,256 98,241,444
BOND COVENANTS 2,460,230 4,729,840 5,684,806 7,060,600 7,700,665

PROJECTED FUND BALANCE $ 23,557,928 $ 28,287,768 $ 33,972,574 $ 41,033,174 $ 48,733,839
Target Fund Balance: 25% 21,448,681 22,352,020 23,916,661 25,079,531 26,279,586
Surplus/(Deficit) $ 2,109,247 $ 5,935,748 $ 10,055,913 $ 15,953,643 $ 22,454,252

DEBT SERVICE:
Property Taxes $ 18,150,735 $ 18,922,972 $ 20,472,307 $ 20,836,207 $ 21,200,107
Debt Ratio - % of Tax Rate 30% 29% 29% 28% 28%
Debt Ratio - % of Total Budget 18% 17% 18% 17% 17%

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