Page 12 - NEXT YEAR BUDGET DETAIL REPORT

GENERAL FUND PROJECTION FY 2023 - FY 2028

BUDGET YE PROJECTED BUDGET PROJECTED PROJECTED PROJECTED PROJECTED
FY 2023 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
BEGINNING FUND BALANCE $7,703,669 $7,703,669 $7,703,669 $7,717,169 $7,731,344 $8,627,886 $9,638,260

REVENUE:
Ad Valorem Taxes $15,856,891 $15,818,646 $17,122,634 $17,623,017 $18,160,445 $18,793,458 $19,427,055
Sales Tax $4,910,000 $5,389,850 $5,305,876 $5,410,744 $5,544,119 $5,680,809 $5,820,898
Franchise Fees $1,947,000 $2,246,057 $2,097,000 $2,117,970 $2,139,150 $2,160,541 $2,182,147
Licenses & Permits $873,500 $781,138 $907,850 $879,429 $852,598 $827,280 $803,401
Fines $550,000 $476,701 $550,000 $555,500 $561,055 $566,666 $572,332
Charges for Service $865,875 $883,434 $936,875 $946,244 $955,706 $965,263 $974,916
Intergovernmental $490,508 $504,964 $503,045 $549,184 $568,115 $588,256 $608,320
Miscellaneous Income $198,000 $423,000 $462,000 $478,620 $483,406 $488,240 $493,123
Transfers In $536,011 $536,011 $669,662 $695,321 $723,234 $752,705 $782,743

TOTAL REVENUES $26,227,785 $27,059,800 $28,554,942 $29,256,028 $29,987,827 $30,823,218 $31,664,935
Expenditures $25,297,424 $24,962,763 $26,703,762 $27,439,116 $28,591,285 $29,812,844 $31,044,700

TOTAL EXPENDITURES $25,297,424 $24,962,763 $26,703,762 $27,439,116 $28,591,285 $29,812,844 $31,044,700

NET REVENUE $930,361 $2,097,037 $1,851,180 $1,816,912 $1,396,542 $1,010,374 $620,235
ENDING FUND BALANCE $8,634,030 $9,800,705 $9,554,849 $9,534,081 $9,127,886 $9,638,260 $10,258,495
DAYS OF FUND BALANCE 125 143 131 127 117 118 121

Transfer to CIP Fund* -$2,097,037 -$1,277,680 -$1,242,737 -$500,000 $0 $0
Transfer to Debt Service Fund** $0 -$560,000 -$560,000 $0 $0 $0
NEW ENDING BALANCE $8,634,030 $7,703,669 $7,717,169 $7,731,344 $8,627,886 $9,638,260 $10,258,495
Days of Fund Balance 125 113 105 103 110 118 121

*All General Fund surpluses will be utilized for the City's capital improvement program.
**For FY24, staff is proposing a larger increase in General Fund taxation with the thought of transferring surplus dollars to assist

with debt service payments. Staff believes this strategic move will assist with some expected operating pressures in the later years
of our forecast.

12