Page 19 - PowerPoint Presentation

FUND BALANCE
The combined ending unassigned Fund Balance for the General Fund is projected to be $11.3M. The Town’s
daily operating cost is calculated at $27,591 (410 operating days). The projected number of operating days
is above the minimum number of days (180) as determined by the financial policies established by the
Town Council. The graph below represents the operating days for FY 19/20, FY 20/21, and the upcoming
fiscal year FY 21/22.

OPERATING DAYS

500 489

450
450

410

400

350
FY 19/20 FY 20/21 FY 21/22

E ENTERPRISE FUNDS

Enterprise Funds are separate from other funds and accounts of the Town. Enterprise fund revenue
is used to support all operations of the enterprise activities. The Town’s Enterprise Funds include
the Utility Fund and the Cemetery Fund.

REVENUES
Budgeted to be $5.7M; this reflects a 2% decrease of $95K from the prior year revised budget.
Cemetery sale revenues are projected to decrease $15K for this upcoming fiscal year. Utility rates for
water will remain the same while sewer rates are proposed to increase in January 2022 due to
underperforming sewer revenue per rate study from an independent rate analyst.

EXPENSES
Budgeted to be $6.01M; a 20% increase of $994K from prior year revised. Most of this increase is
attributed to the anticipated debt service payments for Hillwood Contract.

FUND BALANCE
The combined ending working capital for Enterprise Funds is projected to be $6.2M.

 The Cemetery Fund is projected to have an ending working capital of $302K
 The Utility Fund is projected to have an ending working capital of $5.9M

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