CIP Book FY 2023-27 - Final - Flipbook - Page 17
Capital Improvements Plan
Summary
Sales Tax Capital Projects Fun
Projects found in this funding source are of a general government nature. Most of the projects are
for those historically funded departments within the General Fund. The Sales Tax was renewed in
November 2015 for another 15 years beginning January 1, 2018. Revenue projections are based on
current FY21-22 estimated revenues, an annual 0% increase in FY 23-24 and FY25-27 3% increase.
Following inflation commodity and services cost increase, a 5% expenditure increase is applied for
FY 23- 24 and 3% for FY 25-27.
Sales Tax Capital Projects Funding Analysis:
Over the next five years, the total cost of projects is estimated to be $15,077,762, with an ending
fund balance of $2,861,359, leaving room for additional projects that may arise during this period.
Table 1
Salex Tax Project Fund
Actual
Actual
Budgeted
FY 19-20
FY 20-21
FY 21-22
Estimated
Projected
Projected
Projected
Projected
Projected
FY 21-22 FY 22-23 FY 23-24 FY 24-25 FY 25-26 FY 26-27
Fund Balance, Less
Investment in Capital
Revenue
Interest Earnings
Loan Issuance and Other
Grant / Developer Funding
Transfer from Other Funds
Total Revenue
Total Funding Available
$1,977,867
1,957,607
7,269
6,291
543,250
2,514,417
4,492,284
Less:
Bond / Lease/ Debt
CIP Projects
Total Expenditures
Net Operating Income (Loss)
Fund Balance, End of Year
267,754 263,950 265,570 320,000 160,000
-
-
3,352,335 1,435,271 1,977,421 2,270,991 2,253,828 2,733,664 2,227,500 3,286,779 2,305,000
3,620,089 1,699,221 2,242,991 2,590,991 2,413,828 2,733,664 2,227,500 3,286,779 2,305,000
(1,105,672) 554,867 (44,991) (142,991) 34,172 314,336 911,940 (53,156) 369,996
$872,195 $1,427,062 1,382,071 1,284,071 $1,318,243 $1,632,579 $2,544,519 $2,491,363 $2,861,359
$872,195 1,427,062
2,250,552 2,190,000
1,640 8,000
-
1,896
-
2,254,088 2,198,000
3,126,283 3,625,062
1,427,062
2,440,000
8,000
2,448,000
3,875,062
$1,284,071 $1,318,243 $1,632,579 $2,544,519
2,440,000 2,440,000 2,513,200 2,588,596
8,000 8,000 8,240 8,487
-
-
-
-
-
-
- 600,000 618,000 636,540
2,448,000 3,048,000 3,139,440 3,233,623
3,732,071 4,366,243 4,772,019 5,778,142
Notes
1. Beginning Fund Balance in FY19-20 ties with CAFR FY 18-19 Year-end Balance
2. Revenue projections going forward include a 0% increase per year for FY 22/23 and 23/24 (inflation)
3. Revenue projections going forward include a 3% increase per year for FY 24/27 (inflation easing)
4. Expenditures projections going forward include a 5% increase per year for FY 22/23 and 23/24 (inflation)
5. Expenditures projections going forward include a 3% increase per year for FY 24/27 (inflation easing)
6. Analysis assume that project budgets are fully spent each year going forward
15
$2,491,363
2,666,254
8,742
2,674,996
5,166,359