Surprise FY2025 Budget

FY2025 adopted expenditure limitation budget is compared with FY2024 Budgeted Expenditures/Expenses.

FY2024 comparison amount

$771,076,900

Dollar change

+$181,055,100

Percent change

+23.5%

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.

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

$509,426,700

Estimated Revenues Other than Property Taxes

$507,841,500

Property Tax Levies

$18,067,000

Primary and secondary property-tax levies combined.

Other Financing Sources

$84,408,500

Interfund Transfers In

$67,084,200

Interfund Transfers (Out)

$-67,084,200

Stored as a signed source-side amount because Schedule A presents transfers out as a deduction.

Total Financial Resources Available

$1,119,743,700

Schedule A presents a statutory financial-resource layer that is distinct from the budget book's Summary of Sources and Uses presentation. Beginning fund balance/net position and Other Financing Sources are not treated as recurring revenue.

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

$94,084,300

Ongoing activity

Total ongoing sources

$222,287,500

Total Ongoing Uses

$222,287,500

Ongoing Surplus/(Shortfall)

$0

One-time activity

Total One-Time Sources

$14,919,000

Total One-Time Uses

$29,423,400

One-Time Surplus/(Shortfall)

$-14,504,400

Signed accounting effect. FY2025 presents a $14,504,400 one-time shortfall.

FY2025 separately presents one-time sources, one-time uses, and their signed result.

Ending fund balance

$79,579,900

Reserves

Required Reserve

$58,627,300

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

Accounting details

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

Balance Above/(Below) Reserve

$20,952,600

Ending Fund Balance above the forecast Required Reserve.

Accounting details

Ending Fund Balance minus Required Reserve.

General Fund forecast values are preserved as their own accounting layer and are not collapsed with citywide fund-balance or contingency measures.

Maximum allowable primary levy

$13,785,971

Primary levy

$9,816,600

Secondary levy

$8,250,400

Total levy

$18,067,000

Primary rate

$0.5693 per $100 assessed value

Secondary rate

$0.3880 per $100 assessed value

Combined rate

$0.9573 per $100 assessed value

Rate basis: $100 of assessed value

FY2025 reduces the primary property-tax rate from 0.7591 to 0.5693 per $100 assessed value. Schedule A also contains boilerplate stating that the City does not levy property taxes and that Schedule B is omitted. That statement conflicts with Schedule A's explicit levy rows, the included Schedule B, and the FY2025 tax levy resolution. The source anomaly is preserved here rather than silently corrected.