Page 57 - GrapevineFY24 Adopted Budget
P. 57
Fund Balance Summary
The General and Debt Service funds each have a fund balance requirement of 20% of net
operating expenditures, the equivalent of 72 days of operations. The General fund meets the
balance requirement each of the three years, with funds in excess of the 20% requirement
transferred to other funds such as the QOL fund. The Debt Service fund also exceeds the 20%
requirement each of the three years. The Capital / Street Maintenance fund does not currently
have a fund balance requirement, as its sole sources of revenue are operating transfers and
interest earnings.
GENERAL GOVERNMENT FUND BALANCE SUMMARY
2021-22 2022-23 2023-24 2024-25 2025-26 2026-27
Actual Estimate Approved Projected Projected Projected
GENERAL FUND
Beginning Balance 11,540,685 14,694,600 16,970,254 16,970,254 16,610,067 15,798,639
Net Operating Surplus / (Deficit) 3,153,915 2,935,070 0 (360,187) (811,428) (1,298,702)
Ending Balance 14,694,600 17,629,670 16,970,254 16,610,067 15,798,639 18,369,223
Percentage of Operating Expenditures 20% 27% 23% 22% 20% 18%
Days of Operation 73 97 85 80 73 88
FUND BALANCE REQUIREMENT 12,839,099 13,244,643 14,535,559 14,895,958 15,490,828 16,110,822
Fund balance requirement is 20% of total budgeted expenditures (72 days of operation).
DEBT SERVICE FUND
Beginning Balance 6,681,805 6,997,402 6,997,402 6,997,402 8,404,099 9,228,247
Net Operating Surplus / (Deficit) 315,597 1,014,286 879,400 1,014,286 824,148 1,675,000
Ending Balance 6,997,402 8,011,688 7,876,802 8,011,688 9,228,247 8,281,950
Percentage of Operating Expenditures 47% 55% 54% 55% 57% 71%
Days of Operation 172 202 198 202 209 188
FUND BALANCE REQUIREMENT
Fund balance requirement is 20% of total budgeted expenditures (72 days of operation).
CAPITAL / STREET MAINTENANCE FUND
Beginning Balance 0 4,329,960 1,998,279 508,279 (1,101,821) (5,924,855)
Net Operating Surplus / (Deficit) 4,329,960 (2,331,681) (1,490,000) (1,610,100) (1,733,953) (1,090,475)
Ending Balance 4,329,960 1,998,279 508,279 (1,101,821) (2,835,774) (7,015,330)
FUND BALANCE REQUIREMENT --- NONE
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