Page 59 - CityofMansfieldFY24Budget

General Fund Strategic Plan Summary

2031
2029
2030
2033
2032
General Fund Projected Projected Projected Projected Projected
BEGINNING FUND BALANCE $ 38,855,804 $ 39,625,667 $ 41,693,041 $ 43,668,003 $ 45,432,617
REVENUES:
Ad Valorem Taxes $ 64,000,710 $ 68,609,833 $ 72,131,398 $ 75,866,592 $ 78,748,151
Sales and Use Taxes 26,231,257 27,542,820 28,919,961 30,365,959 31,884,257
Franchise Taxes 9,198,423 9,474,376 9,758,607 10,051,366 10,352,907
Licenses and Permits 3,448,080 3,510,145 3,573,328 3,637,648 3,703,126
Fines and Forfeitures 2,760,146 2,815,349 2,871,656 2,929,089 2,987,671
Interfund Transfer 4,360,395 4,403,999 4,448,039 4,492,519 4,537,444
Other Revenue 2,951,160 3,010,184 3,070,387 3,131,795 3,194,431

TOTAL REVENUE: 112,950,172 119,366,707 124,773,376 130,474,968 135,407,986
Percentage Change 6% 6% 5% 5% 4%

EXPENDITURES:
General Government 3,831,242 3,957,529 4,089,529 4,227,513 4,371,770
Shared Services 11,275,015 11,555,982 11,846,369 12,146,556 12,456,936
Police 35,647,148 38,349,885 41,327,001 44,606,316 48,218,453
Fire 28,923,925 30,274,100 31,689,863 33,174,456 34,731,280
Planning 2,080,578 2,145,236 2,212,759 2,283,285 2,356,956
Development Services 4,008,518 4,122,151 4,240,471 4,363,694 4,492,045
Regulatory Compliance 2,398,192 2,431,308 2,465,086 2,499,540 2,534,683
Public Works 8,884,320 9,093,370 9,309,404 9,532,703 9,763,558
Community Services 5,224,800 5,380,534 5,543,086 5,712,775 5,889,939
Community Engagement 2,519,765 2,590,816 2,664,689 2,741,511 2,821,414
Other 7,386,806 7,398,423 7,410,156 7,422,006 7,433,975

TOTAL EXPENDITURES: 112,180,309 117,299,333 122,798,414 128,710,355 135,071,011
BOND COVENANTS 769,864 2,067,373 1,974,963 1,764,613 336,976
PROJECTED FUND BALANCE $ 39,625,667 $ 41,693,041 $ 43,668,003 $ 45,432,617 $ 45,769,592
Target Fund Balance: 25% 31,815,810 31,815,810 31,815,810 31,815,810 31,815,810
Surplus/(Deficit) $ 7,809,857 $ 9,877,231 $ 11,852,193 $ 13,616,807 $ 13,953,782

DEBT SERVICE:
Property Taxes $ 27,408,254 $ 27,536,296 $ 28,350,096 $ 28,350,096 $ 28,350,096
Debt Ratio - % of Tax Rate 32% 31% 31% 30% 29%
Debt Ratio - % of Total Budget 20% 19% 19% 18% 17%

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