CIP FY 24-28 9-7-23 FINAL Version - Flipbook - Page 21
Capital Improvements Plan
Table 3
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
Actual
Actual
Budgeted
Estimated
Projected
Projected
Projected
Projected
Projected
FY 20-21
FY 21-22
FY 22-23
FY 22-23
FY 23-24
FY 24-25
FY 25-26
FY 26-27
FY 27-28
$ 1,719,320 $ 2,072,047 $2,396,548 $2,354,994 $ 1,480,790 $ 1,347,720 $ 1,695,962 $ (172,727) $ 581,791
334,343
369,013
429,770
461,736
628,214
647,060
666,472
686,466
707,060
3,595
8,594
2,050
64,000
65,000
65,000
66,950
68,959
71,027
2,800,000
442,250
486,418
614,200
614,200
784,683
784,683
808,223
832,470
857,444
780,188
864,025 1,046,020 1,139,936 1,477,897
4,296,743
1,541,646 1,587,895
1,635,532
2,499,508 2,936,072 3,442,568 3,494,930 2,958,687
5,644,463
3,237,607 1,415,168
2,217,323
Less:
Administration
70,965
78,559
146,747
146,747
142,818
149,959
154,458
CRA Programs
26,741
130,067
36,000
36,000
36,000
37,800
38,934
CRA Street Lighting
55,000
55,000
55,000
57,750
59,483
Development Insentives
58,668
91,940
160,000
160,000
245,000
257,250
264,968
Debt Servce Annual Principal
112,188
115,466
116,653
116,653
123,600
123,550
2,526,492
Debt Service Interest
85,960
83,508
81,495
81,495
74,549
74,600
71,001
Transfer to Sales Tax Fund
Debt Service
200,000
CIP Projects
72,939
81,538
541,000
1,418,245
934,001
3,247,593
95,000
Total Expenditures
427,461
581,078 1,136,895 2,014,140 1,610,968
3,948,502
3,410,335
Net Operating Income (Loss)
352,727
282,947
(90,875)
(874,204)
(133,071)
348,242 (1,868,689)
Fund Balance, End of Year
$ 2,072,047 $ 2,354,994 $2,305,673 $ 1,480,790 $ 1,347,720 $ 1,695,962 $ (172,727) $
159,091
163,864
40,102
41,305
61,267
63,105
272,917
281,104
200,000
200,000
100,000
117,250
833,377
866,628
754,518
768,904
581,791 $ 1,350,694
Notes:
1. Beginning Fund Balance in FY20-21 ties with CAFR FY 19-20 Year-end Balance
2. Tax Increment Financing (TIF) is estimated at 2% annually for FY 23/25 and 3% for FY 26/28
3. Revenue projections going forward include a 3% increase per year for FY 24/28
4. Expenditures projections going forward include a 5% increase per year for FY 24/28 (inflation)
5. Analysis assume that project budgets are fully spent each year going forward
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