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o Fund balance in 2028 is estimated at 50.00% of expenditures which is <br />consistent with the current Fund Balance Policy <br />•Special Revenue Funds <br />o Rookery Activity Center <br />2023 will be the first full fiscal year of operation <br />4.00% annual increase in expenditures <br />5.00% annual increase in non-tax levy revenue <br />Continuation of $500,000 operating tax levy <br />o Other special revenue funds <br />Recurring revenue and expenditures have been projected. The <br />projected cash balance can be used as a guide on how <br />unanticipated revenue and expenditures would affect the fund. <br />•Debt Service Funds <br />o Current outstanding bonded indebtedness is forecasted based on debt <br />service schedules and pledged revenue outlined in the bond documents. <br />Capital Project Funds <br />Appendix B incorporates the Capital Improvement Program into Projected Cash <br />Balance statements for each capital project fund. The ending cash balance for each <br />fiscal year, by fund, is also carried forward and represented on the Cash Balance <br />Summary within the Financial Section of the Plan. Specific assumptions and details <br />surrounding each capital project fund are as follows: <br />•Fund 401, Building and Facilities, accounts for the maintenance and construction <br />of municipal buildings and facilities. The main revenue source, charges for <br />services, is cell tower antenna and ambulance lease revenue. The interfund loan <br />activity represents payback from the T.I.F District 1-11 Fund (418) for the Legacy <br />at Woods Edge Development. The interfund loan activity allows for fund reserves <br />to be used as one of the funding sources for the Public Works Facility. Bond <br />proceeds are projected in 2026 for the remainder of the Public Works Facility <br />funding. The debt service payments are represented as transfers out to the <br />respective debt service fund which will make the principal and interest payments. <br />•Fund 402, Capital Equipment Replacement, accounts for the purchase of capital <br />equipment (including vehicles) for governmental functions, primarily Public Safety <br />and Public Services. The main source of revenue is property taxes. The specific <br />property tax levy for the fire water tenders funds the annual principal and interest <br />on an interfund loan from the Sewer Fund. The Plan assumes a $150,000 <br />transfer in from the General Fund in 2024 to meet pay-as-you-go capital outlay <br />37