FY2022

Long-term Projections:

The drop in revenue for fiscal year 2023 relates to a decrease the transfer in for Capital Reserves. Future revenues are projected to increase gradually as account growth is estimated at 1% annually. Future expenditures were projected with the assumptions that personnel related expenditures would grow at a 3% rate annually and services and supplies would grow at a 2% rate annually. Additionally, the larger year over year changes in expenditures result from varying Transfers Out related to Capital Projects. Fiscal year 2022 total expenditures are higher significantly due to a large transfer for Capital Projects. Transfers out to the Capital Projects Fund decreases from $1,490,000 in fiscal year 2022 to $690,000 in fiscal year 2023.

466