Page 60 - CityofMansfieldFY23Budget

General Fund Strategic Plan Summary

2030
2029
2028
2032
2031
General Fund Projected Projected Projected Projected Projected
BEGINNING FUND BALANCE $ 29,586,234 $ 30,797,408 $ 32,367,872 $ 33,896,242 $ 33,863,766
REVENUES:
Ad Valorem Taxes $ 60,059,817 $ 63,529,223 $ 66,878,423 $ 69,016,945 $ 71,232,621
Sales and Use Taxes 23,336,838 24,503,680 25,728,864 27,015,307 28,366,072
Franchise Taxes 8,930,508 9,198,423 9,474,376 9,758,607 10,051,366
Licenses and Permits 3,387,112 3,448,080 3,510,145 3,573,328 3,637,648
Fines and Forfeitures 2,706,026 2,760,146 2,815,349 2,871,656 2,929,089
Interfund Transfer 4,317,222 4,360,395 4,403,999 4,448,039 4,492,519
Other Revenue 2,893,295 2,951,160 3,010,184 3,070,387 3,131,795

TOTAL REVENUE: 105,630,818 110,751,108 115,821,340 119,754,270 123,841,111
Percentage Change 5% 5% 5% 3% 3%

EXPENDITURES:
General Government 3,907,680 4,032,462 4,162,774 4,298,878 4,441,049
Shared Services 9,821,512 10,069,789 10,326,652 10,592,453 10,867,561
Police 34,021,228 36,520,528 39,271,304 42,298,948 45,631,406
Fire 27,000,037 28,274,986 29,612,182 31,014,707 32,485,797
Planning 1,497,184 1,548,676 1,602,695 1,659,368 1,718,826
Development Services 4,318,620 4,436,154 4,558,339 4,685,383 4,817,504
Regulatory Compliance 2,784,975 2,825,827 2,867,496 2,909,998 2,953,350
Public Works 7,724,252 7,907,429 8,096,941 8,293,047 8,496,018
Community Services 5,190,345 5,341,865 5,499,940 5,664,880 5,837,005
Community Engagement 1,914,665 1,972,280 2,032,382 2,095,086 2,160,516
Other 6,239,147 6,250,649 6,262,266 6,273,999 6,285,849
TOTAL EXPENDITURES: 104,419,644 109,180,644 114,292,970 119,786,746 125,694,882
BOND COVENANTS 1,211,174 1,570,464 1,528,370 (32,476) (1,853,771)
PROJECTED FUND BALANCE $ 30,797,408 $ 32,367,872 $ 33,896,242 $ 33,863,766 $ 32,009,994
Target Fund Balance: 25% 27,932,255 31,815,810 31,815,810 31,815,810 31,815,810
Surplus/(Deficit) $ 2,865,153 $ 552,062 $ 2,080,432 $ 2,047,956 $ 194,184

DEBT SERVICE:
Property Taxes $ 22,241,591 $ 22,608,254 $ 22,736,296 $ 23,550,096 $ 23,550,096
Debt Ratio - % of Tax Rate 30% 29% 29% 29% 28%
Debt Ratio - % of Total Budget 17% 17% 16% 16% 16%

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