Budget-In-Brief → buDgeT oVerViewSales Tax Capital Projects FundA projected plan for capital expenditures of the one-cent infrastructure sales tax to be incurredeach year over a period of five years setting forth each capital project, the amount to be expendedin each year, and the method of financing those expenditures.Proprietary FundsThe City uses proprietary funds to account for its business-type activities. It has several enterprisefunds that are classified as proprietary funds. These enterprise funds impose fees or charges onexternal users for use of the services provided.●●●Water and Wastewater Revenue Fund – User fees and other revenues related to the operationof the City’s utility system are recorded in this fund. These fees are charged to the users for theongoing operating and capital needs of water, sewer, and reclaimed water services provided.Reclaimed Water Project Fund – Accounts for wastewater projects that are used for irrigationand other uses to extend the City’s water supplies. Projects are funded by inter-fund transfersfrom the Water and Sewer Revenue Fund.Water and Wastewater Renewal and Replacement Fund – A fund to cover anticipated expensesfor major repairs of the City’s facilities and for repair and replacement of related equipment.Expenses are funded by interfund transfers from the Water and Sewer Revenue Fund.FY 23-24 Adopted Budget DevelopmentThis section describes the major sources of revenues and expenditures, along with trends utilizedin developing the FY 2023-24 Adopted Budget. The City maintains a balanced budget approach incompliance with sec. 166.029 F. S. in which the amount available from taxation and other sources,including balances brought forward from prior fiscal years, must equal the total appropriations forexpenditures and reserves. The General Fund, special revenue, and capital projects funds’ limitedrevenue sources expenditures have been allocated within the depth of the resources provided tomaintain the balanced budget with limited reliance on fund balance reserves, in accordance withexisting policy.Development of the budget begins with a financial forecast for the general fund and water andsewer utility fund to determine the anticipated near-term revenues and recurring expenditures.Financial ForecastFinancial forecasts play a pivotal role in budgeting and have significant implications for both shortterm and long-term financial planning, as well as the efficient City operation. Here’s how theseforecasts impact the budget and future operations:Revenue and Expenditures Forecasts Impact:●●Revenue Forecasts: Accurate revenue forecasts provide the foundation for budget development. City relies on these forecasts to estimate the funds available for spending. Overestimatingrevenue can lead to budget deficits, while underestimating can result in unspent funds.Expenditure Forecasts: Projections of future expenditures help allocate resources effectively.City must estimate the costs of maintaining essential services, personnel salaries, debt service102City of Eustis, FloridaAdopted BudgetBack to TOC
It seems that your browser's pop-up blocker has prevented us from opening a new window/tab. Please click the button below to open the link manually.
