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3)c FMP General Fund Budget Summary and Projections 9-7-2022DRAFT Proposed 2023 Budget 9/7/2022 Inflation Assumptions 666,855 719,498 735,315 757,375 780,096 803,499 1 Revenue (Non-property tax) 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2 Interest Earnings 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 3 Expenses 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% Budget Proposed Projected GENERAL FUND 2022 2023 2024 2025 2026 2027 REVENUE 4 General Property Tax-Current 1,583,000 1,759,213 1,769,563 1,826,024 1,934,247 1,969,283 5 Other taxes 25,400 26,400 26,928 27,467 28,016 28,576 6 Intergovernmental 64,200 61,000 62,220 63,464 64,734 66,028 7 Federal grant 10,000 11,700 8 Franchise fees - - 9 Licenses and Permits 149,500 161,100 164,322 167,608 170,961 174,380 10 Charges for Services 48,293 56,900 58,038 59,199 60,383 61,590 11 Fines & Forfeits 7,000 7,400 7,548 7,699 7,853 8,010 12 Interest Earnings 15,900 12,100 12,282 12,466 12,653 12,842 13 Miscellaneous Revenues 6,000 9,900 15 Total Revenue 1,909,293 2,105,713 2,100,900 2,163,927 2,278,845 2,320,711 EXPENSES 17 General Government 617,820 657,900 677,637 697,966 718,905 740,472 18 Public Safety 435,090 479,699 494,090 508,913 524,180 539,906 19 Public Works 683,490 747,350 769,771 792,864 816,650 841,149 20 Park and Recreation 152,900 154,760 159,403 164,185 169,110 174,184 21 Capital Outlay 16,000 16,000 22 Total Expenses 1,905,300 2,055,709 2,100,900 2,163,927 2,228,845 2,295,711 23 Revenues Over / (Under) Expenses 3,993 50,004 - - 50,000 25,000 OTHER FINANCING SOURCES / (USES)- 25 Contingency - (50,000) (25,000) 26 Sale of Fixed Assets - - - - 27 Bond Proceeds - - - - - - 28 Transfer in - 31 Transfers Out - - - - - 32 Total Other Sources / (Uses) - - - - (50,000) (25,000) 33 Prior Period Adjustments 34 Ending General Fund Balance (FB)1,354,287 1,404,291 1,404,291 1,404,291 1,454,291 1,479,291 35 Restricted - - - - - - 36 Unassigned 1,354,287 1,404,291 1,404,291 1,404,291 1,454,291 1,479,291 37 Fund Balance as a % of Next Year's Expenditures (net of contingency)65.9%66.8%64.9%63.0%63.3%62.6% CITY OF SCANDIA Financial Management Plan Proposed 2023 General Fund Budget and Projections DRAFT Proposed 2023 Budget 9/7/2022