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6f. Summary Budget Worksheet 09 06 23CITY OF SCANDIA SUMMARY BUDGET 6/20/2023 Inflation Assumptions 677,171 833,881 796,646 820,546 845,162 870,517 Revenue (Non-property tax) 1.00% 1.00% 1.00% 1.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% Interest Earnings 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% Expenses 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% Audited Budgeted Budgeted Projected Projected Projected Projected Projected Projected Projected GENERAL FUND 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 REVENUE 1 General Property Tax-Current 1,607,142 1,865,918 1,865,918 1,921,896 1,979,552 2,038,939 2,100,107 2,163,110 2,228,004 2,294,844 2 Other taxes 4,115 149,697 134,357 135,701 138,415 141,183 144,007 146,887 149,824 152,821 3 Intergovernmental 69,875 61,000 70,200 70,902 72,320 73,766 75,242 76,747 78,282 79,847 4 Grants 11,700 5 Franchise fees - 6 Licenses and Permits 182,640 161,100 179,100 180,891 184,509 188,199 191,963 195,802 199,718 203,713 7 Charges for Services 53,383 53,000 53,565 54,101 55,183 56,287 57,412 58,560 59,732 60,926 8 Fines & Forfeits 6,027 7,400 7,000 7,070 7,282 7,501 7,726 7,957 8,196 8,442 9 Interest Earnings 5,459 12,100 5,636 5,819 5,994 6,174 6,359 6,550 6,746 6,949 10 Miscellaneous Revenues 13,452 9,900 11,000 11,358 11,698 12,049 12,411 12,783 13,166 13,561 11 - - - - - - - - - - 12 Total Revenue 1,942,093 2,331,815 2,326,776 2,387,737 2,454,953 2,524,097 2,595,226 2,668,396 2,743,668 2,821,103 EXPENSES 13 Current 14 General Government 667,685 754,600 693,230 714,027 735,448 757,511 780,236 803,643 827,753 852,585 15 Public Safety 458,856 504,399 535,793 551,867 568,423 585,475 603,039 621,131 639,765 658,958 16 Public Works 636,351 732,450 834,658 859,698 885,489 912,054 939,415 967,598 996,626 1,026,524 17 Park and Recreation 171,884 175,069 212,452 218,825 225,390 232,152 239,116 246,290 253,678 261,289 18 Applied to Federal Grant 19 Federal fund returned 20 Capital Outlay - 216,000 21 - 22 - 23 - 24 - 25 Total Expenses 1,934,776 2,382,518 2,276,133 2,344,416 2,414,749 2,487,191 2,561,807 2,638,661 2,717,821 2,799,356 26 Revenues Over / (Under) Expenses 7,317 (50,703) 50,644 43,320 40,204 36,906 33,419 29,735 25,847 21,747 38 Ending General Fund Balance (FB) 1,349,787 1,299,084 1,349,728 1,393,048 1,433,252 1,470,158 1,503,576 1,533,311 1,559,158 1,580,905 39 Restricted - - - - - - - - - - 40 Unassigned 1,349,787 1,299,084 1,349,728 1,393,048 1,433,252 1,470,158 1,503,576 1,533,311 1,559,158 1,580,905 41 Fund Balance as a % of Next Year's Expenditures (net of contingency) 56.7% 57.1% 57.6% 57.7% 57.6% 57.4% 57.0% 56.4% 55.7% #DIV/0! Preliminary Projected Levy by Type 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 41 General Fund Operating Tax Levy 1,607,142 1,865,918 1,865,918 1,921,896 1,979,552 2,038,939 2,100,107 2,163,110 2,228,004 2,294,844 42 Annual Increase 16.3% 16.1% 0.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% ANNUAL DEBT LEVIES BY BOND ISSUE-FUTURE 43 44 BONDS ISSUED 4,000,000 4,000,000 2,000,000 45 EQUIPMENT CERTIFICATES 650,000 900,000 400,000 300,000 600,000 46 47 - 48 Total Annual Debt Issuance - - 4,650,000 900,000 400,000 4,300,000 - 600,000 2,000,000 - OTHER SPECIAL TAX LEVIES 49 Debt service 50 2013 Certificates 67,000 64,000 51 2015 Certificates 52 2017 Certificates 34,524 53 2018 GO Bonds 344,531 342,536 345,634 343,166 340,541 343,009 345,161 341,749 343,429 344,794 54 Capital Improvement Debt Levy 55 Equipment Replacement Debt Levy - 75,028 180,535 227,427 262,596 262,596 332,935 332,935 56 Local road improvement Debt Levy 385,369 385,369 385,369 770,738 770,738 770,738 1,029,747 57 Total Annual Debt Levies 446,055 406,536 345,634 803,563 906,445 955,805 1,378,496 1,375,083 1,447,102 1,707,476 ANNUAL CAPITAL PROJECTS LEVIES 58 Capital Improvement 217,336 293,791 215,000 215,000 223,600 232,544 241,846 251,520 261,580 272,044 59 Park Improvement 20,000 20,000 60,000 62,400 64,896 67,492 70,192 72,999 75,919 78,956 60 Equipment Replacement 87,800 - 110,000 110,000 114,400 118,976 123,735 128,684 133,832 139,185 61 Local Road Improvement 216,860 212,012 375,000 375,000 390,000 405,600 421,824 438,697 456,245 474,495 62 63 64 EDA 8,000 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300 65 66 67 Total Other Special Levies 549,996 531,103 765,300 767,700 798,196 829,912 862,896 897,200 932,876 969,979 68 Total Tax Levy 2,603,193 2,803,557 2,976,852 3,493,158 3,684,194 3,824,656 4,341,499 4,435,394 4,607,982 4,972,299 69 Increase/(Decrease) in Total Tax Levy 14.67% 7.70% 6.18% 17.34% 5.47% 3.81% 13.51% 2.16% 3.89% 7.91% 70 Less: Fiscal Disparities (132,739) (123,279) (107,857) (104,138) (119,431) (121,965) (122,994) (136,047) (134,616) (135,985) 71 Net Levy to Taxpayers 2,470,454 2,680,278 2,868,995 3,389,020 3,564,763 3,702,691 4,218,505 4,299,347 4,473,366 4,836,314 72 73 Existing Tax Base 8,336,001 10,129,722 10,847,248 11,172,666 11,507,846 11,853,081 12,208,673 12,574,933 12,952,181 13,340,746 83 5.37% 21.52% 7.08% 84 New Net Tax Capacity 0 0 0 0 0 0 0 0 0 0 85 Total Net Tax Capacity 8,336,001 10,129,722 10,847,248 11,172,666 11,507,846 11,853,081 12,208,673 12,574,933 12,952,181 13,340,746 86 Tax Rate on Tax Capacity 29.636% 26.460% 26.449% 30.333% 30.977% 31.238% 34.553% 34.190% 34.538% 36.252% 87 Tax Rate % Change 9.24063% -10.72% -0.04% 14.68% 2.12% 0.84% 10.61% -1.05% 1.02% 4.96%