HomeMy WebLinkAboutGeneral Fund Balance CarryoverGeneral Fund Balance Carryover Forecasted Initial Request After Final Cuts
Final Final Budget Budget
2019 2020 2021 2021
Fund Balance as of beginning of year 4,744,203$ 5,228,231$ 4,423,131$ 4,423,131$
Less Investment Set Aside-Finance Software (215,700)$ (255,700)$ (315,700)$ (305,700)$
Actual/Forecast/Budgeted Carryover(shortage)484,028$ (805,100)$ (1,140,800)$ (797,300)$
Net available as of end of the year 5,012,531$ 4,167,431$ 2,966,631$ 3,320,131$
Expenditures including contingency 11,912,962$ 13,023,800$ 13,652,500$ 13,402,700$
Less Contingency n/a (20,700)$ (150,000)$ (125,000)$
Net Expenditures 11,912,962$ 13,003,100$ 13,502,500$ 13,277,700$
Minimum Reserve % of Expenditures:25%2,978,241$ 3,250,775$ 3,375,625$ 3,319,425$
Amount Above Minimum Reserve:25%2,034,291$ 916,656$ (408,994)$ 706$
Actual Percentage 42.08%32.05%21.97%25.01%
Maximum Reserve % of Expenditures 33%3,931,277$ 4,291,023$ 4,455,825$ 4,381,641$
Amount over/(Under) 33%1,081,254$ (123,592)$ (1,489,194)$ (1,061,510)$
Fund Balance Carryover in Budget Revenue $ 322,400 $ 575,700 TBD $ 797,300
2020 2021 Dollar Percentage
General Fund Transfers-Subsidies Forecast Budget Increase Increase
FUND TFR-NEW CITY/POLICE BUILDING RESERVE - 400,000 400,000
FUND TFR-FIBER RESERVE - 30,000 30,000
FUND TFR -PARKS CAP RESERVE 314,300 60,000 (254,300) -80.9%
FUND TFR -GOLF OPERATIONS 60,400 62,700 2,300 3.8%
FUND TFR - TRAILS FUND 25,000 25,000 - 0.0%
FUND TFR - VETERANS MEMORIAL TRUST FUND 500 500 - 0.0%
FUND TFR -LEGACY FLIGHT MUSEUM 13,000 13,000 - 0.0%
FUND TFR -AIRPORT CONSTRUCTION 10,000 10,000 - 0.0%
FUND TFR -PLANNING & ZONING 334,400 356,100 21,700 6.5%
FUND TFR -REXBURG CULTURAL ART 31,000 39,700 8,700 28.1%
FUND TFR -E I BUSINESS COMP 16,600 7,500 (9,100) -54.8%
FUND TFR -MAYOR'S YOUTH ADV BD 1,500 500 (1,000) -66.7%
FUND TFR-GOLF CON.LOAN PAYBACK 25,000 25,000 - 0.0%
FUND TFR- AIRPORT OPERATIONS 4,000 6,400 2,400 60.0%
FUND TFR -ROMANCE 395,600 81,400 (314,200) -79.4%
FUND TFR -DARE/FUND 09 FOR DEF 8,500 8,500 - 0.0%
FUND TFR -RECREATION 99,100 70,600 (28,500) -28.8%
FUND TFR -TABERNACLE 108,600 167,700 59,100 54.4%
FUND TFR -JOINT FIRE EQUIP 35,000 35,000 - 0.0%
FUND TFR AIRPORT RELOC.RESERVE 50,000 30,000 (20,000) -40.0%
FUND TFR -ANIMAL CONTROL FUND 190,300 168,100 (22,200) -11.7%
FUND TFR -REXBURG ORCHESTRA 5,000 6,300 1,300 26.0%
FUND TFR -JOINT FIRE OPERATION 1,170,000 1,215,500 45,500 3.9%
FUND TFR -R RAPIDS CAP REPLACE 65,000 75,000 10,000 15.4%
2,962,800$ 2,894,500$ (68,300)$ -2.3%
Street Funds
Fund Description Fund
2020
Forecasted
Carryover
2021
Budgeted
Carryover
Accounts
Receivable
5/25/20 Notes
Street Operations 2 -$ -$ 17,933$
Transfer to street
repair fund at
Yearend
Street Impact 33 1,705,700$ 85,700$
To be spent on
East Parkway
ROW and 2 E &
HWY 33 new road
Street Repair 43 1,017,300$ -$ 281,695$
AR URA
Washington District
Project on 2nd W
and 1st N.
New Street Construction 44 555,800$ -$ 22,284$
Most Projects
qualify for DIF or
URA
Total 3,278,800$ 85,700$ 321,912$
Total Available Cash/Investments 2,956,888$ 85,700$
Sanitation Fund 2020 2021
Fund Description Fund
Year End
Forecasted
Reserve*
Year End
Budgeted
Reserve*Notes
Sanitation Operations 25 927,899$ 778,299$
Rates to Increase on average by
4.49%, due in large part to increase in
tipping fees of 16.6%.
Water Funds 2020 2021
Fund Description Fund
Year End
Forecasted
Reserve*
Year End
Budgeted
Reserve*Notes
Water Operations 26 6,744,345$ 6,420,345$
Water Capital Reserve 34 2,197,500$ 1,900,800$
Water Capital Construction 42 -$
Water Line Extension 46 -$
Total 8,941,845$ 8,321,145$
Wastewater Funds 2020 2021
Fund Description Fund
Year End
Forecasted
Reserve*
Year End
Budgeted
Reserve*Notes
Sewer Operations 27 2,954,153$ 1,016,953$
Sewer Capital Reserve 35 1,371,700$ 1,353,400$
Sewer Plant Construction 52 -$ -$
Sewer Line Extension 46 -$ -$
Total 4,325,853$ 2,370,353$
*Cash/Investments/Net Accounts Receivable
Some of this may pay for upsize costs
of $ Million Project above.
Transfer in from Fund 27 and 35 to
zero out fund
Doing in Fund 27 until WW Plant
Final Phase Project closed out
Rates TBD-Volume rate projected to
increase 9.5% with no rate change to
base fee. Approximately 1.1% for a
typical resident. Will need to decide
how much to pay down on the DEQ
Loan as well.
Hope to finalize DEQ loan in 2021
Transfer in from Fund 26 & loan
proceeds to zero out fund
Doing in Fund 26 until Water Upgrade
Project closed out in future
$4 Million for Sewer Line Project in
NE Corner of City. Funding from
Sugar/Teton/ Developers with
Clawback TBD ($2.5 M). City share of
Capital Projects in Budget FY21 is
$2.73 Million.