Page 82 - FY 24 Budget Forecast at Adoption.xlsx

FY 2023-24 Five-Year Operating Fund Outlook

Keller Development Corporation (KDC Fund)

FY 2024-25 FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29

Revenues
Sales Tax 4,784,645 4,904,261 5,026,867 5,152,539 5,281,352
Charges for Service 16,000 16,000 16,000 16,000 16,000
Other Revenue 52,132 53,696 55,307 56,967 58,675
Total Revenue $4,852,777 $4,973,957 $5,098,174 $5,225,505 $5,356,028

Expenditures
Operations & 128,750 132,613 136,591 140,689 144,909
maintenance
Services & other 51,413 52,956 54,545 56,181 57,866
Debt Service 2,807,265 2,806,790 2,811,090 2,810,165 2,810,165
Transfers to other 930,000 1,005,000 1,120,000 970,000 1,020,000
funds
Capital outlay - - - - -
Future Anticipated - - - - -
needs
Total Expenditures $3,917,428 $3,997,358 $4,122,225 $3,977,034 $4,032,940

Variance $935,829 $977,573 $977,433 $1,250,479 $1,325,636

Five-Year Outlook Notes:

 The KDC fund typically cash funds large parks and recreation capital projects, but may also issue debt for
larger capital projects. During FY 2020-21, City Council created a Keller Sports Park Task Force with
participants from the Council, the Parks and Recreation Board, and representatives from various leagues
and user groups. Together, this task force will review the Keller Sports Park Master Plan and recommend
updates to transform it into a premier destination addressing current and future sporting needs. The FY
2023-24 budget includes the issuance of $27,000,000 related to the Sports Park project.
 Starting in FY 2024-25, the trail expansion project funding increases $50,000 annually. The FY 2024-25
funding shows $400,000 and will increase to $600,000 by FY 2028-29.
 The five-year CIP does include annual funding to replace parking lots at the Sports Park, replace playground
equipment, and perform capital repairs at various parks.

80