TOWN OF FAIRFAX
BUDGET PRESENTATION
FY 2023/24
AGENDA
General Budget Overview
Capital Improvement
Program (“CIP”)
Council Discussion
TWO YEAR COMPARISON
FISCAL 22/23 - PROJECTED
• GF REVENUE $ 11.7M
• GF EXPENSES $ 12.8M
• RESERVE $ 5.7M (44.9%)
• OVERALL REVENUE $ 16.1M
• OVERALL EXPENSE $ 15.4M
FISCAL 23/24 – PROPOSED BUDGET
• GF REVENUE $ 11.6 M - $ 100 K
• GF EXPENSES $ 13.8 M + $ 1.0 M
• RESERVE $ 3.6 M (26.1%)
• OVERALL REVENUE $ 16.0 M -$100 K
• OVERALL EXPENSE $ 19.2 M +$ 3.8 M
GENERAL FUND -
SOURCE OF FUNDS
• PROPERTY TAXES 53.7%
• SALES TAXES 14.2%
• SERVICE CHARGES 6.0%
• MEASURE F 5.3%
• OTHER TAXES/FEES 11.6%
• FUND BALANCE 9.1%
GENERAL FUND - USE OF FUNDS
GENERAL FUND -
APPROPRIATIONS
APPROPRIATIONS
ALL FUNDS
HIGHLIGHTS
• INCREASED FUNDING FOR STREETS & SIDEWALKS
• INCREASE PUBLIC WORKS PROJECT COMPLETION
• MORE STAFF HELP TO PROVIDE SERVICES
GENERAL FUNDS
SPECIAL REVENUE FUNDS
DEBT SERVICE & FIDUCIARY FUNDS
CAPITAL IMPROVEMENT FUNDS
FY 2023
-24
BUDGET
PRESENTATION
COUNCIL
DISCUSSION