ACFR FY 2022 FINAL BOOK - Flipbook - Page 39
FINANCIAL SECTION
City of Eustis, Florida
General Fund Budgetary Highlights
The adopted and final budgets are the same in the fiscal year 2022� The table below identifies the
changes from the original budget to the final budget�
Table 10 : Budgetary Analysis
Original
Budget
General Government
public Safety
Transportation
Culture/Recreation
Non-Departmental
Capital Outlay / Other
Total
$
$
4,831,224 $
9,641,766
2,022,130
1,917,488
309,210
18,721,818 $
Actual
Expenditures
General Government
public Safety
Transportation
Culture/Recreation
Non-Departmental
Capital Outlay / Other
Total
$
$
Final Budget
4,941,949 $
9,481,640
2,277,289
1,284,100
133,670
18,118,648 $
Final Budget
4,425,535 $
8,806,613
1,858,166
1,198,192
1,445,837
17,734,343 $
4,941,949 $
9,481,640
2,277,289
1,284,100
133,670
18,118,648 $
Variance
110,725
(160,126)
255,159
(633,388)
(175,540)
(603,170)
Variance
(516,414)
(675,027)
(419,123)
(85,908)
1,312,167
(384,305)
On-behalf payments are not budgeted and are offset by a corresponding increase in revenue� All
funds reflect expenditures less than budget� The overall decrease between the final budget and
actual expenditures of $384,306 reflects a reduction of the expenses due to police and Fire pension
funds rate slight decrease in 2022 and several position vacancies and difficulties in hiring in public
Safety departments; 2021-22 capital projects carryovers, and various repair and maintenance in
public Works� Non-departmental expenditures decreased by $85,908 due to increased insurance
and risk management costs�
Leases
The City of Eustis is a lessor for lease of land and buildings� The lessor is the legal owner of the
asset or property, and he gives the lessee the right to use or occupy the asset or property for a
specific period� During the contract, the lessor retains the right of ownership of the property and
is entitled to receive periodic payments from the lessee based on their initial agreement� He must
also be compensated for any losses incurred during the contract due to damage or misuse of the
asset in question� The City recognizes a lease receivable and a deferred inflow of resources in the
government-wide and governmental fund financial statements�
At the commencement of a lease, the City of Eustis initially measures the lease receivable at the
present value of payments expected to be received during the lease term� Subsequently, the lease
Annual Comprehensive Financial Report | September 30, 2022
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