Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 109
Budget-In-Brief → buDgeT oVerView
Intergovernmental Revenue: Grants, State and Local Shared Revenues, and Payments from
Other Local Units
General Fund
The budget for half-cent sales tax and municipal revenue sharing is based on estimates provided by
the State and is distributed by the State derived through calculations based on factors such as sales
tax revenue and population. Local Government Half-Cent Sales Tax is projected to be $1,639,876
(General Fund Revenue, page 160). It is apportioned and distributed by the State based on population estimates. This distribution is based on equally weighted factors of adjusted municipal population, derived municipal sales tax collections, and the municipality’s ability to raise revenue. The
FY 2024 Adopted Budget anticipates a slight increase in the Half-Cent revenues due to current
increases in sales tax as the economy continues to grow. Intergovernmental shared revenues are
budgeted in the General Fund at $1,093,003 (General Fund Revenue, page 160), based on historical trends and the current economic situation. This estimate includes revenue sources derived
from mobile home license taxes, alcohol beverage license taxes, county occupational licenses,
and payments in lieu of taxes (PILOT). The City fully attempts to utilize grant funding to supplement
its limited resources possible as an additional revenue source. As this revenue is unknown and
based on grant awards, the budget is appropriated upon grant acceptance. The total FY 2023-24
Intergovernmental revenues are $3,041,620 (General Fund Revenue, page 160).
Charges for Services: Utility Charges for Services
General Fund, Stormwater Utility Fund and Water & Sewer Utility Revenue Fund
Budgeted General Fund’s Charges for Services is $922,630 (General Fund Revenue, page 160), and
it includes: lien search, garbage billing, false fire alarms charges, and various Library and Parks
and Recreation service charges.
Budgeted Stormwater revenue of $890,200 (Stormwater Revenue, page 296) is based on a rate of
$6 per equivalent residential units per month and $12 for commercial locations. There is minimal
increase in revenue to this fund as there are minimal additions due to new development or changes
in land use.
Charges for water, sewer, and reclaimed water service are predicated upon base charges plus a
tiered rate based upon consumption. Together with connection fees for new accounts, these charges
are predicted to be $13,163,500 (Water & Wastewater Revenue, page 304). Acknowledging the
current economic situation and high inflation the City Commission authorized an order for a rate
study to ascertain whether the fees and rates charged generate enough revenue to fund all operations, maintenance, replacement, debt service, and capital improvements. The Commission and
any third party performing a rate study shall consider the municipal cost index and other relevant
factors in setting rates. Before June 1, 2022, the City Commission adopted a new ordinance setting
forth procedures for establishing water service rate charges for the next five years. The irrigation
and reclaimed water component of the revenue stream can fluctuate significantly based on seasonal
wet or drought cycles and the disruption of lawn maintenance routines caused by hurricanes and
vegetative debris accumulation. Total projected Utility revenues for FY 2024 are $13,697,300 (Water
& Wastewater Revenue, page 304). Due to current City development, and rapid population increase,
2.5% annual growth assumption is used.
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City of Eustis, Florida
Adopted Budget
107
