General Fund and Utilities Services Taxes Fund Balances
Fiscal Year 2022 Operating and Capital Budget
For a downloadable PDF collection of the fund balance schedules listed on this page, click here.
The FY2020 Actuals fund balance increased by 10.6% primarily due to receiving reimbursement from the Coronavirus Aid, Relief, and Economic Security Act (CARES) for cost related to the Covid-19 Pandemic. Additionally, the City reduced the FY2020 expenses that offset the reduced revenues. The FY2021 Projected fund balance is projected to decrease by 15.2% primarily due to lower revenues and a one-time revenues expended in anticipation of receiving revenue recovery from the American Rescue Plan Act (ARPA). The FY2021 Projected revenues do not include the anticipated ARPA revenue recovery of $13,000,000.
The City has a General Fund/Utilities Services Taxes fund balance requirement of 20% of expenses. For FY2022, the fund balances for these two funds will increase by $2,129,794.
The FY2020 Actuals fund balance increased primarily due to the restructuring of the debt service in response to the projected decreases in revenues resulting from the Covid-19 Pandemic.
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General Fund and Utilities Services Taxes Fund Balances (Current)