Page 56 - FY 24 Budget Forecast at Adoption.xlsx

FY 2023-24 STATISTICAL ANALYSIS

This statistical analysis summarizes the FY 2023-24 Adopted Budget by providing a summary of the
revenue and expenditures of the city’s various funds, and a comparison to FY 2022-23 budget and year-
end projections.

GENERAL FUND

Revenue Assumptions: General Fund Revenues

The budget takes a conservative
approach in dealing with revenues, Intragovernmental Other Revenue
especially growth-oriented revenues. 3.8% 1.2%
Adopted revenues for FY 2023-24
are $44,131,048, and assume an Intergovernmental
9.8%
overall increase of 4.65% over the FY
2022-23 budget and an overall
decrease of 1.63% from FY 2022-23 Charges for
Services
projections. The city’s General Fund 3.7%
operations are derived from eight Licenses and Property Taxes
45.4%
major revenue categories, with ad Permits
1.5%
valorem tax being the largest Fines and Fees
category at 45.4% and sales and 1.5%
other taxes the second largest at Development
32.7%. The pie chart shows the Fees
revenue percentage breakdown by 0.4%
category, and the bar graph shows
the growth of ad valorem tax, sales
and all other revenues over five Sales Tax &
years. Other Taxes
32.7%

20,000,000
18,000,000
16,000,000

14,000,000
12,000,000

10,000,000
8,000,000
6,000,000

4,000,000
2,000,000
-
FY 2018-19 FY 2018-19 FY 2020-21 FY 2021-22 FY 2022-23 FY 2022-23 FY 2023-24
Actual Actual Actual Actual Budget YE Proj. Adopted
Budget

Property Tax Sales Tax Other Revenue

54