CIP Book FY 2023-27 - Final - Flipbook - Page 18
Capital Improvements Plan
Community Redevelopment Agency Trust Fund
The funding source for these projects is Tax Increment Financing (TIF). Projects funded through
this source are designed to create redevelopment opportunities within the CRA and increase the
tax base to increase annual TIF payments from participating local governments. TIF payments are
received annually from the City of Eustis, the Lake County Board of County Commissioners, and the
Lake County Water Authority. The tax increment financing projections are conservatively estimated
at 2% for FY 23-24 and 3% for FY 25-27. Other revenue projections are based upon current FY2122 estimated revenues, an annual 0% increase in FY 23-24, and in FY 25-27 3% increase. Following
inflation commodity and services cost increase, 5% of expenditure increase is applied for FY 2324, and 3% for FY 25-27.
CRA Funding Analysis:
Table 2
CRA Trust Fund
Fund Balance, Beginning of
the Year
Revenue
Interest Earnings
Other Revenue
Land Lots Sales Proceeds
Debt Proceeds
Transfer from Other Funds
Total Revenue
Total Funding Available
Less:
Administration
CRA Programs
CRA Street Lighting
Development Insentives
Debt Servce Annual Principal
Debt Service Interest
Transfer to Sales Tax Fund
Debt Issuance - Land Purchase
3 lots
CIP Projects
Total Expenditures
Net Operating Income (Loss)
Fund Balance, End of Year
Actual
Actual
Budgeted
Estimated
Projected
Projected
Projected
Projected
Projected
FY 19-20
FY 20-21
FY 21-22
FY 21-22
FY 22-23
FY 23-24
FY 24-25
FY 25-26
FY 26-27
$1,390,058 $1,719,320 $2,072,047 $2,072,047 $2,144,338 $2,191,269 $2,871,860
289,087 334,343 340,107 390,373 398,180 406,144 418,328
8,297 3,595 4,500 2,050 2,050 2,050 2,112
160,150
100 100 100 100
103
-
-
-
- 1,000,000 1,000,000
3,000,000
-
-
-
-
-
379,791 442,250 486,532 486,418 486,418 486,418 501,011
3,837,325 780,188 831,239 878,941 886,748 1,894,712 1,921,553
5,227,383 2,499,508 2,903,286 2,950,988 3,031,086 4,085,981 4,793,413
$1,553,767 $2,849,549
430,878 443,805
2,175 2,240
106 109
1,000,000
-
516,041 531,522
1,949,200 977,676
3,502,967 3,827,225
35,182 70,965 124,219 89,445 93,917 98,613 101,572
18,298 18,947 30,000 214,170 224,879 236,122 243,206
55,000 26,741 55,000 37,887 39,024 40,194 41,802
57,452 58,668 137,000 137,000 143,850 151,043 155,574
112,188 112,190 116,653 120,051 123,550 2,526,492
85,960 85,960 81,495 78,097 74,600 71,001
250,000
-
-
-
-
-
-
104,619 107,757
250,502 258,017
43,056 44,348
160,241 165,048
-
-
-
-
3,000,000
-
-
-
-
-
-
92,131 53,992 130,000 130,000 140,000 489,999 100,000 95,000 100,000
3,508,063 427,461 674,369 806,650 839,817 1,214,121 3,239,646 653,418 675,171
329,262 352,727 156,870 72,291 46,931 680,591 (1,318,093) 1,295,782 302,505
$1,719,320 $2,072,047 $2,228,917 $2,144,338 $2,191,269 $2,871,860 $1,553,767 $2,849,549 $3,152,054
Notes:
1. Beginning Fund Balance in FY19-20 ties with CAFR FY 18-19 Year-end Balance
2. Tax Increment Financing (TIF) is estimated at 2% annually for FY 23/24 and 3% for FY 25/27
3. Revenue projections going forward include a 0% increase per year for FY 22/23 and 23/24 (inflation)
4. Revenue projections going forward include a 3% increase per year for FY 24/27 (inflation easing)
5. Expenditures projections going forward include a 5% increase per year for FY 22/23 and 23/24 (inflation)
6. Expenditures projections going forward include a 3% increase per year for FY 24/27 (inflation easing)
7. Street lighting expenditures projections going forward include a 3% increase per year for FY 23/24; 4% for 24/25, and
3% for 25/27
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