Page 107 - CityofWataugaAdoptedBudgetFY24
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BUDGET SUMMARY
This summary contains a general description of the major revenue sources for the City of
Watauga’s major operating funds and the assumptions used to project those revenues
for this budget. Recent trend data is also included for major revenues described in the
following pages. Most projected revenues are based on assumptions of historical data
with increases and decreases associated with economic conditions and rate changes.
The total budget for FY2023-2024, including transfers between funds and capital projects
is $66,870,591. This represents an increase of $5,148,225 when compared to FY2022-
2023, largely due to increases in capital project funding, debt service payments and
increases in the personnel category in comparison to prior year.
A discussion of major expenses/expenditures for the City’s major operating funds and
assumptions used to project those expenses for this budget is included in this section.
Personnel makes up the largest operational expenditure
Total operating expenses (including transfers and debt service) increased 4.4% from
Budget 2023 to Budget 2024. More detail by category can be found in the Expense
Analysis discussion in this section.
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