Page 53 - Grapevine FY23 Adopted Budget (1)

The Long-Range Financial Forecast, as presented below, provides a view of the city’s fiscal plan
for general government operations, debt service obligations, and capital maintenance needs for
the next three years. The forecast assumes that the current ad valorem tax rate of $0.271775 per
$100 valuation either remains constant, or is lowered to the No New Revenue Rate, if necessary.
The forecast does not assume a tax rate increase.

The forecast also includes estimated principal and interest payments for future debt issues for
large capital equipment, such as fire apparatus, which require such a long lead time and have
such a long useful life that it is economically prudent to finance via debt rather than cash.

The forecast also projects a stable employment level, with no increase or decrease in authorized
full-time equivalent (FTE) levels throughout the three-year forecast period. Annual across-the
board market and merit salary adjustments of 2-5% are also included in the projection.

GENERAL GOVERNMENT LONG-RANGE FINANCIAL FORECAST

2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026
Actual Estimated Approved Projected Projected Projected

REVENUE AND OTHER FUNDING SOURCES
Taxes 57,057,718 64,645,288 63,359,043 65,893,405 68,529,141 71,270,307
Licenses, Fees & Permits 7,330,755 6,956,339 7,634,746 7,634,746 7,711,093 7,788,204
Fines, Forfeitures & Charges for Services 9,166,604 8,757,769 10,765,581 10,980,893 11,200,510 11,424,521
Interest & Miscellaneous 6,298,181 7,131,089 1,463,694 1,492,968 1,522,827 1,553,284
Transfers In 8,562,519 6,832,180 7,571,593 8,566,593 9,314,696 9,240,564
TOTAL SOURCES OF FUNDS 88,415,777 94,322,665 90,794,657 96,116,132 98,468,928 101,309,833

EXPENDITURES AND OTHER FUNDING USES
Personnel 34,415,045 35,341,452 37,386,031 38,881,472 40,436,731 42,054,200
Supplies, Maintenance & Services 17,717,012 19,789,348 19,509,187 20,484,646 21,508,879 22,584,323
Capital / Street Maintenance & Outlays 4,541,982 2,256,327 3,961,500 4,040,730 4,121,545 4,203,975
Insurance 8,675,693 6,501,069 10,557,971 11,085,870 11,640,163 12,222,171
Debt Service 15,993,870 14,080,663 13,841,050 13,841,050 13,781,150 13,250,000
Payments on Future Debt Issues 0 0 0 661,919 2,881,103 2,750,000
Transfers Out 9,983,504 5,931,740 6,821,000 7,025,630 7,236,399 7,453,491
TOTAL USES OF FUNDS 91,327,106 84,571,337 92,077,233 97,238,764 99,649,536 102,049,194

NET CHANGE IN FUND BALANCE (2,911,329) 9,751,328 (1,282,576) (1,122,632) (1,180,609) (739,361)
BEGINNING FUND BALANCE 19,195,236 14,891,356 16,283,907 15,001,331 13,878,699 12,698,090

ENDING FUND BALANCE 16,283,907 24,642,684 15,001,331 13,878,699 12,698,090 11,958,730

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