Strategic → CiTy of eusTis PerformanCe measuremenT sysTem anD buDgeT TrenDsCity Financial Performance AnalysisThe financial performance analysis of the City covers a span of five years, including three yearsFY 2020-2022 with actual data and the estimated and projected data for FY 2023-24. The analysisreveals that the City of Eustis has experienced consistent growth in revenue and total net positionsince FY 2020. However, there was a decrease in expenses in FY 2021 followed by an increase inFY 2022.Looking ahead, the estimated actuals for FY 2023 indicate a decline in the City’s revenue andexpenditures, both in governmental and business activities. This can be attributed to economicstagnation and high inflation during that period. However, the estimations for FY 2024 forecast aslight decrease in revenue and expenditures, with hopes that the economy will recover. Theseperformance measures are citywide and align with Goal #3 of the City Strategic Plan, which aimsto provide quality, competent, and cost-effective governmental public services.More specifically, the revenue growth between FY 2021 and FY 2022 experienced a positive changeof 28.03% indicating a healthy growth trend. On the other hand, expenses saw a slightly highergrowth rate of 33.21%, surpassing the revenue growth. The net position showed a growth of 7.52%,with governmental activities growing by 10.52%, and business activities growing by 3.64%. Thisgrowth in governmental activities can be primarily attributed to city development and the construction of new subdivisions, which boosted governmental activities revenue.The positive revenue growth signifies a healthier and more prosperous economy, leading to variousbenefits such as increased job opportunities, higher wages, and additional funding for governmentprojects and services. The combined effect of the total revenue growth and the federal AmericanRescue Plan Act (ARPA) ensured the continuity of City services during this period.Generally, theCity’s business activities generate higher revenue due to charges for water and sewer services.When considering the actual change between FY 2020 and FY 2022, revenue exhibited significantgrowth of 34.79%, while City expenses increased by only 17.99%. The total net position experienced a growth of 13.75%.The financial performance chart and budget trends of the City clearly demonstrate that the revenueconsistently outpaces the growth in expenditures. This indicates a positive trend where the City’srevenue consistently exceeds its expenditure growth. It is expected that FY 2024 will be moreproductive than FY 2023, resulting in an elevated financial performance for the City, reaching anew and higher level.Overall, the City’s financial performance and revenue growth demonstrate a competent managerialapproach in addressing the City’s needs and effectively navigating the challenges posed by thecurrent economic situation.86City of Eustis, FloridaAdopted BudgetBack to TOC
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