FY 2023/24 Mid-Year
Budget Review
1 February 20, 2024
FY 2023/24 Mid-Year Budget Review
2 • FY 2023/24 Total Mid-Year Adjustments
• General Fund Adjustments
• Garbage Fund Adjustments
• Sewer Fund Adjustments
• Water Fund Adjustments
3 Total FY 2023/24 Mid-Year Adjustments
All Funds
4 FY 2023/24 Mid-Year Adjustments
General Funds (100 – 111)
General Fund (100) FY 2023/24 Mid-Year
Budge Review, continued
5 General Fund revenue estimates
increased from the adjusted budget due
to the following :
• Sales Taxes increased due to a onetime adjustment in the allocation by the state
• Charges for Services increased due
to the accounting treatment of
reimbursable expenditures,
whereby the revenue will come
from developer deposits to cover
related expenditures.
• Investment Earnings increased due
to an increase on return on
investments from increased
deposits.
General Fund budgeted expenditure
estimates increased from the
adjusted budget due to the following:
• Salary & Benefit increases based on
additional position requests.
• Other Services & Charges increased
due to the accounting treatment of
reimbursable expenditures.
• Capital Outlay projects increased
due to new command vehicle for
the Fire Department
FY 2023/24 Mid-Year Adjustments
Garbage Fund (600)
6 FY 2023/24 Mid-Year Adjustments
Sewer Funds (605,606,607)
7 FY 2023/24 Mid-Year Adjustments
Water Funds (610, 611, 612)
8 Questions
&
Staff Recommendations
9 • Questions?
• Adopt a Resolution Approving the Mid-Year Budget Adjustments for FY 2023/24.