Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 110
Budget-In-Brief → buDgeT oVerView
Other Charges for Services:
General Fund
Estimates for revenues generated from Parks and Recreation activities of $259,200 (General Fund
Revenue, page 160) are provided by the Parks and Recreation division based on planned classes
and events for the upcoming year and are budgeted in the General Fund. The estimated Memorial
Public Library budgeted in General Fund revenue is $14,400 (General Fund Revenue, page 160)
Fines & Forfeitures:
General Fund
Various fines and forfeitures are conservatively budgeted at $158,300 (General Fund Revenue, page
160), based on historical trends. Court fines and code violations comprise most of the fines levied.
Conservative estimates are the best method for budgeting this revenue as the amount collected
from year to year fluctuates significantly and does not follow a defined trend.
Miscellaneous Revenues:
General Fund, Various Special Revenue Funds, and Water & Sewer Utility Revenue Fund
Interest earnings are conservatively budgeted among the appropriate funds. Interest rates are
now beginning to tick higher as the economy improves, though this source will continue to be
categorized as a minor revenue with high volatility. The City invests excess funds according to
the Investment Policy to attain higher interest earnings than those earned in a traditional bank.
This revenue forecast is based on projected cash and investment balances and anticipated interest
rates. Rents collected from leases to wireless companies for use of water towers as a cellular phone
tower transmission area are based on existing contract values. This revenue source has leveled
off in recent years as wireless companies implement new technologies. All General Fund miscellaneous revenues are conservatively budgeted at $1,093,003 (General Fund Revenue, page 160).
This amount includes revenue estimates in support of the City’s robust offering of community festivals, holiday celebrations, and events that will raise the City’s profile in the region and generate
economic investment.
Other Financing Sources:
General Fund, Various Special Revenue Funds, and Water & Sewer Utility Revenue Fund
Other financing sources are items that are reflected in the budget as revenue, but which are not
exchange-based transactions. These include transactions such as Interfund transfers and utilization
of fund balance. Interfund transfers are transfers from one fund to another to provide funding to
offset costs incurred in another fund or, in the case of the Water and Sewer Utility Revenue Fund, to
pay the General Fund for a return on investment and overhead costs. Appropriation of fund balance
as a revenue reflects the increase or decrease on the reliance of fund balance as a revenue source
to balance revenues against expenditures for a given year and ensure a balanced budget. The interfund transfer from the Water & Sewer Utility Fund to the General Fund is budgeted at $2,300,000
(General Fund Revenue, page 160). This pay was proposed by the City to reach State minimum
wage requirements of $15.00 per hour. The proposed salary increase is calculated based on 5%
COLA salary increase, and up to $1,000 flat pay for all existing full-time employees.
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City of Eustis, Florida
Adopted Budget
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