Page 52 - GrapevineFY24 Adopted Budget

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 $0.250560 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

2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-2027
Actual Estimated Approved Projected Projected Projected

REVENUE AND OTHER FUNDING SOURCES
Taxes 66,131,760 69,868,031 68,187,811 70,915,323 73,751,936 76,702,014
Licenses, Fees & Permits 7,718,170 7,800,920 8,064,255 8,064,255 8,144,898 8,226,347
Fines, Forfeitures & Charges for Services 8,935,103 12,153,704 10,929,821 11,148,417 11,371,386 11,598,813
7,767,938
Interest & Miscellaneous 11,455,815 2,405,419 1,470,943 1,500,362 1,530,369 1,560,976
9,427,142
9,992,555
9,427,142
9,753,448
Transfers In
8,294,243
TOTAL SOURCES OF FUNDS 102,008,786 100,522,317 98,079,972 101,055,500 104,791,144 107,841,598

EXPENDITURES AND OTHER FUNDING USES
Personnel 35,213,698 37,074,446 39,892,689 41,488,397 43,147,932 44,873,850
23,087,319
Supplies, Maintenance & Services
21,181,649 21,987,923
19,956,639
24,241,685
25,453,769
Capital / Street Maintenance & Outlays 1,566,151 4,744,691 4,327,300 4,413,846 4,502,123 4,592,165
Insurance 8,297,847 7,441,312 10,639,883 11,171,877 11,730,471 12,316,995
Debt Service 14,080,663 13,841,050 13,844,562 13,844,562 13,781,150 13,250,000
Payments on Future Debt Issues 0 670,738 670,738 659,556 2,881,103 2,750,000
7,453,491
7,025,630
Transfers Out
7,236,399
TOTAL USES OF FUNDS 14,176,240 13,959,575 6,821,000 97,238,764 99,649,536 102,049,194
98,913,461 98,302,268
94,209,314

NET CHANGE IN FUND BALANCE 7,799,472 1,608,856 (222,296) 3,816,736 5,141,607 5,792,405

BEGINNING FUND BALANCE 18,222,490 26,021,962 27,630,818 27,408,522 31,225,258 36,366,865

ENDING FUND BALANCE 26,021,962 27,630,818 27,408,522 31,225,258 36,366,865 42,159,270

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