FY 2025 BUDGET BOOK - Flipbook - Page 101
resources whenever possible. This revenue is unknown and is based on grant awards, therefore any
grants are budgeted upon grant award and acceptance. Total FY 2024/25 Intergovernmental
Revenues are budgeted at $3,242,500 (General Fund Revenue, page 131).
Charges for Services: Utility Charges for Services
General Fund, Stormwater Utility Fund and Water & Sewer Utility Revenue Fund
The General Fund’s Charges for Services is budgeted at $1,020,606 (General Fund Revenue, page
132), and includes lien searches, garbage billing, false fire alarm charges, and various library and
parks and recreation service charges.
Stormwater revenue is budgeted at $926,000 (Stormwater Revenue, page 268) and is based on
a rate of $6 per equivalent residential units per month and $12 per month for commercial locations.
Due to limited new development or land use changes, a minimal increase has been budgeted.
Charges for water, sewer, and reclaimed water service are budgeted using base charges combined
with a tiered rate based upon consumption. Together with connection fees for new accounts, these
charges are budgeted at $14,573,925 (Water & Wastewater Revenue, page 276). Given current
economic conditions, high inflation and financial insecurities, the City Commission authorized a rate
study to determine if the fees and rates charged generate enough revenue to fund operations,
maintenance, replacement, debt service, and capital improvements. In FY 2023/24 the City
Commission hired a rate consultant to conduct this study. Once the consultant has determined
sufficient, competitive rates the City will determine future rates to be set. The irrigation and
reclaimed water components of the revenue stream can fluctuate significantly based on seasonal wet
or dry cycles as well as the disruption of lawn maintenance routines caused by hurricanes and
vegetative debris accumulation. Total budgeted revenues for the utility are $15,526,125 (Water &
Wastewater Revenue, page 276). A 2.5% annual revenue growth assumption has been used for the
preparation of the budget.
Other Charges for Services:
General Fund
Revenues generated from Parks and Recreation activities are budgeted at $293,500 (General Fund
Revenue, page 132) These revenues are generated by the Parks and Recreation division based on
planned programs, classes, and events for the upcoming year. The revenue generated from the
Eustis Memorial Public Library is budgeted at $14,700 (General Fund Revenue, page 132).
Fines & Forfeitures:
General Fund
Various fines and forfeitures are conservatively budgeted at $493,169 (General Fund Revenue, page
132), and are 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 within the applicable funds. Interest rates are
somewhat higher as the economy improves; however, this source will continue to be categorized as
a minor revenue with high volatility. The City has more recently begun investing in higher yield
investments as opposed to traditional bank investments. These investments adhere to the City’s
Investment Policy and allow the City to receive higher interest earnings. This budgeted revenue
is based on projected cash and investment balances and anticipated interest rates. Rents of space
on water towers from wireless communications companies for use of water towers as a cellular
phone tower transmission area are based on existing contract values. All General Fund
miscellaneous revenues are conservatively budgeted at $1,511,889 (General Fund Revenue, page
132).
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