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Additional high-level assumptions built in to the Financial Section are as follows: <br />• 3.00% annual tax capacity growth rate <br />o The tax capacity growth rate for taxes payable 2026 has been lowered to <br />0.50%, excluding new construction, based on indications from Anoka <br />County <br />o The average increase in tax capacity over the last eight years has been <br />10.00%, which includes new construction <br />• $396,400 estimated market value of the average value residential home <br />o Value from Anoka County for taxes payable 2025 <br />• 1.00% interest earnings on ending cash balances <br />• Tax Increment Financing (T.I.F) revenues for certified T.I.F districts as of <br />8/31/2024 include: <br />o T.I.F District 1-11 Legacy at Woods Edge Development <br />o T.I.F District 1-13 Lyngblomsten Senior Housing Project <br />• General Fund <br />0 5.00% annual increase in expenditures <br />0 3.00% annual increase in non -tax levy revenue <br />o Balanced budget with property taxes <br />o No planned use of reserves/fund balance <br />■ Fund balance in 2029 is estimated at 47.00% of expenditures which <br />is consistent with the current Fund Balance Policy <br />• Special Revenue Funds <br />o Rookery Activity Center <br />■ 2023 was 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 $600,000 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 />A <br />