Page 68 - CityofGrapevineFY26AdoptedBudget
P. 68
LONG-RANGE FINANCIAL FORECAST
BY FUND TYPE
GENERAL GOVERNMENTAL FUNDS
The Long-Range Financial Forecast, as presented below, provides a view of the city’s fiscal plan for general government operations, debt service
obligations, and capital maintenance needs for the next three years. The forecast assumes that the current ad valorem tax rate of $0.237228 per $100
valuation either remains constant, or is lowered to the No New Revenue Rate, if necessary.
The forecast does not assume a tax rate increase.
The forecast also includes estimated principal and interest payments for future debt issues for large capital equipment, such as fire apparatus, which
require such a long lead time and have such a long useful life that it is economically prudent to finance via debt rather than cash.
The forecast projects a stable employment level, with no increase or decrease in authorized full-time equivalent (FTE) levels throughout the three-year
forecast period. Annual across-the board market and merit salary adjustments of 3-5% are also included in the projection.
63
