Surprise FY2024 Budget

FY2024 Budgeted Expenditures/Expenses are compared with FY2023 Adopted/Adjusted Budgeted Expenditures/Expenses using the expenditure-limitation comparison in Schedule A.

FY2023 comparison amount

$667,815,300

Dollar change

+$103,261,600

Percent change

+15.5%

These figures use the accounting measures reported by the City. Revenue, transfers, fund balance and other financing measures are kept separate rather than treated as interchangeable.

Total Revenue

$532,618,600

Transfers In

$110,197,600

Total Sources

$642,816,200

Beginning Fund Balance/(Deficit) or Net Position/(Deficit)

$433,852,400

State Schedule A accounting measure. This is not treated as recurring revenue or as equivalent to the Summary of Sources and Uses Total Sources.

Other Financing Sources

$34,980,000

Total Financial Resources Available

$966,471,000

State Schedule A accounting measure. It is kept distinct from the Summary of Sources and Uses Total Sources.

FY2024 contains both Summary of Sources and Uses measures and statutory Schedule A financial-resource measures. These accounting layers are preserved separately.

These figures use the accounting labels reported by the City. Different revenue measures are shown separately rather than treated as interchangeable.

Total Revenue

$532,618,600

Local Sales Tax

$126,113,200

Intergovernmental

$116,888,700

Charges for Services

$137,922,900

Other

$124,688,900

Property Tax

$20,475,100

Franchise Fees & Licenses

$6,529,800

The General Fund is shown separately from the citywide budget. Ongoing activity, one-time activity, fund balance and reserves are kept distinct where the adopted budget reports them separately.

Beginning fund balance

$91,136,200

Ongoing activity

Total ongoing sources

$202,790,100

Total Ongoing Uses

$198,693,000

Ongoing Surplus/(Shortfall)

$4,097,100

One-time activity

Total One-Time Sources

$9,711,400

Total One-Time Uses

$35,726,400

One-Time Surplus/(Shortfall)

$-26,015,000

Signed accounting effect. The source presents FY2024 as a $26,015,000 shortfall.

FY2024 explicitly separates one-time sources, one-time uses, and their resulting signed surplus/(shortfall).

Ending fund balance

$69,218,300

Reserves

Required Reserve

$51,572,100

Required reserve presented in the General Fund Five-Year Forecast.

Accounting details

Compared with Ending Fund Balance to determine Balance Above/(Below) Reserve.

The FY2024 adopted budget states that the General Fund reserve equals at least three months of operational funds.

Balance Above/(Below) Reserve

$17,646,200

Ending Fund Balance above the forecast Required Reserve.

Accounting details

Ending Fund Balance minus Required Reserve.

Retained as the General Fund forecast reserve comparison rather than collapsed with other citywide reserve or contingency concepts.

The FY2024 adopted budget states that required reserves for all funds total approximately $86.3 million, including approximately $51.6 million in the General Fund. The exact General Fund forecast Required Reserve is $51,572,100.

Primary levy

$11,789,000

Secondary levy

$8,686,100

Total levy

$20,475,100

Primary rate

$0.7591 per $100 assessed value

Secondary rate

$0.3880 per $100 assessed value

Combined rate

$1.1471 per $100 assessed value

Schedule B reports explicit FY2024 property-tax levies and rates. Schedule A also contains boilerplate stating that the city does not levy property taxes. The explicit Schedule B values are preserved and the contradiction is not silently resolved.