Loading...
3. Summary Budget 2024-2031 CITY OF SCANDIA SUMMARY BUDGET 6/20/2023 Inflation Assumptions 679,910 763,913 793,967 817,786 842,319 867,589 Revenue (Non-property tax)0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% Interest Earnings3.25%3.25%3.25%3.25%3.25%3.25%3.25%3.25%3.25%3.25% Expenses3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00% AuditedBudgetedBudgetedProjectedProjectedProjectedProjectedProjectedProjectedProjected GENERAL FUND2022202320242025202620272028202920302031 REVENUE 1General Property Tax-Current 1,607,142 1,865,918 1,940,555 1,998,771 2,058,735 2,120,497 2,184,111 2,249,635 2,317,124 2,386,638 2Other taxes 4,115 26,400 156,500 156,500 156,500 156,500 156,500 156,500 156,500 156,500 3Intergovernmental 69,875 61,000 70,200 70,200 70,200 70,200 70,200 70,200 70,200 70,200 4Grants 11,700 5Franchise fees - 6Licenses and Permits 182,640 161,100 184,100 184,100 184,100 184,100 184,100 184,100 184,100 184,100 7Charges for Services 53,383 56,900 53,565 53,565 53,565 53,565 53,565 53,565 53,565 53,565 8Fines & Forfeits 6,027 7,400 7,000 7,000 7,210 7,426 7,649 7,879 8,115 8,358 9Interest Earnings 5,459 12,100 5,636 5,819 5,994 6,174 6,359 6,550 6,746 6,949 10Miscellaneous Revenues 13,452 9,900 11,000 11,358 11,698 12,049 12,411 12,783 13,166 13,561 11 - - - - - - - - - - 12Total Revenue 1,942,093 2,212,418 2,428,556 2,487,313 2,548,002 2,610,511 2,674,895 2,741,211 2,809,517 2,879,871 EXPENSES 13Current 14General Government 598,355 754,700 783,042 806,533 830,729 855,651 881,321 907,760 934,993 963,043 15Public Safety 530,584 504,399 524,975 540,724 556,946 573,654 590,864 608,590 626,848 645,653 16Public Works 632,254 732,450 761,748 784,600 808,138 832,383 857,354 883,075 909,567 936,854 17Park and Recreation 152,152 175,060 198,712 204,673 210,813 217,138 223,652 230,361 237,272 244,390 18Applied to Federal Grant 19 Federal fund returned 20Capital Outlay 29,255 16,000 21 - 22 - 23 - 24 - Total Expenses 1,942,600 2,182,609 2,268,477 2,336,531 2,406,627 2,478,826 2,553,191 2,629,786 2,708,680 2,789,940 25 26Revenues Over / (Under) Expenses (507) 29,809 160,079 150,782 141,375 131,685 121,705 111,425 100,837 89,931 Ending General Fund Balance (FB) 1,349,787 1,379,596 1,539,675 1,690,458 1,831,832 1,963,518 2,085,222 2,196,647 2,297,484 2,387,415 38 39 Restricted - - - - - - - - - - Unassigned 1,349,787 1,379,596 1,539,675 1,690,458 1,831,832 1,963,518 2,085,222 2,196,647 2,297,484 2,387,415 40 41 Fund Balance as a % of Next Year's Expenditures (net of contingency)61.8%60.8%65.9%70.2%73.9%76.9%79.3%81.1%82.3%#DIV/0! PreliminaryProjected Levy by Type2022202320242025202620272028202920302031 41General Fund Operating Tax Levy 1,607,142 1,865,918 1,940,555 1,998,771 2,058,735 2,120,497 2,184,111 2,249,635 2,317,124 2,386,638 42 Annual Increase16.3%16.1%4.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0% ANNUAL DEBT LEVIES BY BOND ISSUE-FUTURE 43 44BONDS ISSUED 3,575,000 3,307,000 3,023,000 45EQUIPMENT CERTIFICATES 640,000 900,000 400,000 300,000 600,000 46 47 - Total Annual Debt Levies - - 4,215,000 4,207,000 3,423,000 300,000 - 600,000 - - 48 OTHER SPECIAL TAX LEVIES 49Debt 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 54Capital Improvement Debt Levy 55Equipment Replacement Debt Levy - 75,028 180,535 227,427 262,596 262,596 332,935 332,935 56Local road improvement Debt Levy 963,423 963,423 963,423 963,423 963,423 963,423 963,423 - ANNUAL CAPITAL PROJECTS LEVIES 57Capital Improvement 217,336 293,791 457,548 929,474 435,072 420,000 - - 320,207 169,859 58Park Improvement 20,000 20,000 215,000 74,953 138,105 248,161 59Equipment Replacement 87,800 - 626,356 984,871 350,000 607,353 57,901 550,165 449,767 91,775 60Local Road Improvement 216,860 212,012 3,575,000 3,307,000 3,023,000 1,331,000 1,085,000 780,000 1,045,000 965,000 61 62 63EDA 8,000 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300 64 65 Total Other Special Levies 996,051 937,639 5,224,838 6,683,215 5,435,976 4,145,673 2,719,382 2,903,233 3,460,060 66 2,873,086 67Total Tax Levy2,603,1932,803,5572,950,3924,474,9864,071,7105,966,1694,903,4934,552,8685,777,184 5,259,724 68Increase/(Decrease) in Total Tax Levy14.67%7.70%5.24%51.67%-9.01%46.53%-17.81%-7.15%26.89%-8.96% (132,739)(119,481)(124,820)(128,824)(194,265)(169,916)(249,021)(196,047)(179,911)(226,602) 69Less: Fiscal Disparities Net Levy to Taxpayers2,470,4542,684,0762,825,5734,346,1633,877,4455,796,2534,654,4724,356,8215,597,2735,033,121 70