Attachment #4
Projected YE FY
2024-25
Assumed
Projected
Growth Rate
Projected FY
2025-26
Projected FY 2026-
27 Projected FY
2027-28
Projected FY
2028-29
Projected FY 2029-
30 GENERAL FUND REVENUES
Property Tax $ 20,150,000 4.0% $ 20,956,000 $ 21,794,240 $ 22,666,010 $ 23,572,650 $ 24,515,556 Public Safety Property Tax 3,746,394 5.0% 3,933,714 4,130,400 4,336,920 4,553,766 - Sales Tax 645,000 3.0% 664,350 684,281 704,809 725,953 747,732 Utility User & Franchise Taxes 3,239,900 3.5% 3,353,297 3,470,662 775,567 802,712 830,807 Charges for Services 2,288,632 3.5% 2,368,734 2,451,640 2,537,447 2,626,258 2,718,177 Licenses & Permits 1,705,000 2.0% 1,739,100 1,773,882 1,809,360 1,845,547 1,882,458 Other Revenues 4,614,587 1.0% 3,488,723 3,523,610 3,558,846 3,594,434 3,630,378 Total Revenues $ 36,389,513 $ 36,503,918 $ 37,828,715 $ 36,388,959 37,721,320 34,325,108
GENERAL FUND EXPENDITURES
Personnel
Salaries - Miscellaneous $ 7,390,033 4.0%
2.5% after
FY 26-27 7,685,634 7,993,059 8,192,885 8,397,707 8,607,650 Salaries - Safety 9,435,868 4.0%
2.5% after
FY 26-27 10,425,100 10,842,104 11,113,157 11,390,986 11,675,761 Overtime - Miscellaneous 25,845 4.0%
2.5% after
FY 26-27 26,879 27,954 28,653 29,369 30,103
Overtime - Safety 1,905,359 4.0%
2.5% after
FY 26-27 1,158,239 1,204,569 1,234,683 1,265,550 1,297,189 Medical, Medicare, Allowances 2,612,391 7.0% 2,795,258 2,990,926 3,200,291 3,424,311 3,664,013 Pension Payments - Miscellaneous UAL 840,261 1,020,930 1,103,000 1,171,000 1,317,000 1,345,000 Pension Payments -Public Safety UAL 2,609,910 3,047,357 3,247,000 3,422,000 3,772,000 3,852,000 Debt Service - Pension Bonds n/a - - - - - -
Retirees' Medical (OPEB) 200,000 2.0% 204,000 208,080 212,242 216,487 220,817 Total Personnel $ 25,019,667 $ 26,363,397 $ 27,616,692 $ 28,574,911 29,813,410 30,692,533 Non-Personnel
Workers' Compensation $ 1,728,177 3.0% $ 1,064,043 $ 1,095,964 $ 1,128,843 $ 1,162,708 $ 1,197,589 General Liability & Insurance 984,970 5.0% 1,034,219 1,085,930 1,140,227 1,197,238 1,257,100 Legal Services 733,000 3.0% 754,990 777,640 800,969 824,998 849,748 Office Supplies, Repair & Maint., Misc. 2,003,360 3.0% 2,063,461 2,125,365 2,189,126 2,254,800 2,322,444 Contract Services 4,446,886 3.5% 4,602,527 4,763,615 4,930,342 5,102,904 5,281,506 Utilities 1,010,789 3.0% 979,312 1,008,691 1,038,952 1,070,121 1,102,225 Capital Equipment 87,441 n/a - - - - -
Other (Depreciation, Training, etc.) 879,625 3.0% 906,014 933,194 961,190 990,026 1,019,727 OPEB Trust Contribution 100,000 n/a 100,000 - - - -
Pension Trust Contribution n/a - - - - - -
Annual Reserve Contribution - - - - - -
Windstorm Expenditures 261,277
Total Non-Personnel $ 12,235,525 $ 11,504,566 $ 11,790,399 $ 12,189,649 12,602,795 13,030,339 Total Expenditures $ 37,255,191 $ 37,867,963 $ 39,407,091 $ 40,764,560 42,416,205 43,722,872 Annual Operating Surplus (Deficit) $ (865,678) $ (1,364,045) $ (1,578,376) $ (4,375,601) $ (4,694,885) $ (9,397,764) Available Fund Balance for Capital Improvements
SUMMARY
Beginning Capital Reserve Balance 410,667 (4,319,333) (9,049,333) (13,779,333) (18,509,333) Annual Funding for Infrastructure (4,730,000) (4,730,000) (4,730,000) (4,730,000) (4,730,000) Ending Capital Reserve Balance/(Deficit) (4,319,333) (9,049,333) (13,779,333) (18,509,333) (23,239,333)
INFRASTRUCTURE FUNDING
Street & Pavement Mtce 3,500,000 3,500,000 3,500,000 3,500,000 3,500,000 Sewer & Storm Drain 600,000 600,000 600,000 600,000 600,000 Sidewalk Maintenance 250,000 250,000 250,000 250,000 250,000 Building Maintenance 380,000 380,000 380,000 380,000 380,000 Total Infrastructure 4,730,000 4,730,000 4,730,000 4,730,000 4,730,000
OPERATING RESERVE
Prior Year Ending Reserve Balance $ 17,706,613 $ 16,840,935 $ 15,476,890 $ 13,898,514 9,522,913 4,828,028 Annual Operating Surplus (Deficit) (865,678) (1,364,045) (1,578,376) (4,375,601) (4,694,885) (9,397,764) Current Year Contribution to Reserves
Current Year Ending Reserve Balance $ 16,840,935 $ 15,476,890 $ 13,898,514 $ 9,522,913 4,828,028 (4,569,736) Five-Year Financial Forecast