File #: 20-0159    Version: 1 Name:
Type: Discussion Items Status: General Agenda
File created: 6/12/2020 In control: Town Commission
On agenda: 6/16/2020 Final action: 6/16/2020
Title: 2020 - 2024 Forecast Summary: General Fund Departmental Summary 2018 Budgeted 2019 Budgeted 2020 Projected 2021 Projected 2022 Projected 2023 Projected 2024 Projected Administration $ 782,101 $ 801,500 $ 819,070 $ 847,790 $ 888,150 $ 920,260 $ 964,230 Building $ 149,710 $ 211,300 $ 212,340 $ 216,200 $ 220,280 $ 224,690 $ 229,320 Support Services $ 2,132,800 $ 2,173,600 $ 2,296,460 $ 2,405,440 $ 2,524,430 $ 2,650,910 $ 2,785,450 Police $ 1,720,350 $ 1,873,300 $ 1,942,780 $ 2,010,690 $ 2,093,950 $ 2,181,100 $ 2,272,450 Public Works $ 902,200 $ 900,950 $ 878,000 $ 909,590 $ 945,970 $ 984,240 $ 1,024,510 Recreation $ 798,710 $ 853,050 $ 890,910 $ 920,370 $ 955,970 $ 993,160 $ 1,032,290 Total Expenditures $ 6,485,871 $ 6,813,700 $ 7,039,560 $ 7,310,080 $ 7,628,750 $ 7,954,360 $ 8,308,250 Total Revenues $ 7,100,611 $ 6,813,700 $ 6,898,900 $ 7,179,410 $ 7,352,520 $ 7,532,050 $ 7,718,330 Surplus/(Deficit) $ 614,740 $ - $ (140,660) $ (130,670) $ (276,230) $ ...
Attachments: 1. Preliminary and Forecast Packet
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Summary
To: Town Commission
From: Ashley L. A. Bernal
Date: 6/16/2020
______________________________________________________________________
Subject:
Title
2020 - 2024 Forecast

Summary:

General Fund Departmental Summary









2018 Budgeted
2019 Budgeted
2020 Projected
2021 Projected
2022 Projected
2023 Projected
2024 Projected
Administration
$ 782,101
$ 801,500
$ 819,070
$ 847,790
$ 888,150
$ 920,260
$ 964,230
Building
$ 149,710
$ 211,300
$ 212,340
$ 216,200
$ 220,280
$ 224,690
$ 229,320
Support Services
$ 2,132,800
$ 2,173,600
$ 2,296,460
$ 2,405,440
$ 2,524,430
$ 2,650,910
$ 2,785,450
Police
$ 1,720,350
$ 1,873,300
$ 1,942,780
$ 2,010,690
$ 2,093,950
$ 2,181,100
$ 2,272,450
Public Works
$ 902,200
$ 900,950
$ 878,000
$ 909,590
$ 945,970
$ 984,240
$ 1,024,510
Recreation
$ 798,710
$ 853,050
$ 890,910
$ 920,370
$ 955,970
$ 993,160
$ 1,032,290








Total Expenditures
$ 6,485,871
$ 6,813,700
$ 7,039,560
$ 7,310,080
$ 7,628,750
$ 7,954,360
$ 8,308,250








Total Revenues
$ 7,100,611
$ 6,813,700
$ 6,898,900
$ 7,179,410
$ 7,352,520
$ 7,532,050
$ 7,718,330








Surplus/(Deficit)
$ 614,740
$ -
$ (140,660)
$ (130,670)
$ (276,230)
$ (422,310)
$ (589,920)

Currently, the budgetary estimates for the fiscal year 2020-21 are forecasted at a preliminary deficit of $140,660. It is critical to state that these are strictly forecasted numbers, no budgets have been submitted for approval. This forecast is used to illustrate revenue growth over expenditure growth and serve as the starting block for this year's budget process. These numbers are not intended to serve as a five year budget, as they do not take into account any policy changes or budgetary decision making.

This is largely due to the decrease in large revenue items, such as the Sales Tax Revenue and State Revenue Sharing accounts. The Town budgets for operations based on the revenues generated, which allows for certain expenditure options to be approved, such as salary adjustments. Cost of living and merit...

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