FY 2023 ADOPTED BUDGET AS OF 9-22-22 - Flipbook - Page 23
Introduction → Transmittal Letter
Figure 8:
FY 2022-23 Projected Year - End Total Fund Balances by the Fund Type $89,525,149
General Fund (Restricted):
13,806,528 15.42%
Capital Projects Fund:
1,937,634 2.16%
Special Revenue Funds:
6,591,551 7.36%
Trust & Agency Funds:
51,729,241 57.78%
Enterprise Funds:
15,460,194 17.27%
The budget’s estimated beginning fund balance of all twenty two City funds is $84,650,574 and the
anticipated revenue is $58,256,451. After accounting for $53,381,876 in expenditures, the total City
fund balance would be $89,525,149 as illustrated above; $60,799,213 of that total is dedicated by
law or policy as reserves, leaving a remaining available balance of $28,725,936. This provides for
a healthy reserve as well as funding for upcoming utility infrastructure needs as identified in the
Capital Improvement Plan. The total projected estimated budget’s fund balance is $89,525,149.
The Capital Improvement Plan for FY 2022-23 is included in the Capital Improvement Section at the
end of the Budget Book.
Additional Points.
The budget includes several services that the City maintains by policy because of the benefit to the
public and enhancement of the City’s image. Revenues for these services may not always cover
costs and do require an annual commitment to continue. Major examples are as follows:
1. The Greenwood Cemetery:
a) Annual revenues are $12,740.
b) The current restricted reserve balance is $294,087.
c) The General Fund’s annual operating expenditure for the cemetery is $136,685.
d) The City commission is considering revisiting the existing fee structure.
2. Community Events:
City of Eustis, Florida
Adopted Annual Budget
21