FY2024 Proposed Budget

Tax Increment Financing (2601 - 2616) Fund Summary

2020

2021

2022

2023

2024

2025

Actual

Actual

Actual

Revised

Budget

Projected

Fund Balance, July 1

$

977,949

$

783,349

1,421,525 $

$

811,156

$

110,750

$

528,924

Revenues:

Other City Taxes TIF Revenues

3,434,710 $

2,637,854 $

4,016,096 $

4,113,733 $

4,083,031 $

4,144,479 $

Use Of Money And Property Interest Revenues

45,238

8,734

-

-

-

-

Intergovernmental

Property Tax Credits

-

32,561

44,958

-

-

-

Sub-Total Revenues

3,479,948

2,679,150

4,061,053

4,113,733

4,083,031

4,144,479

Transfers In:

Transfers In

153,693 153,693

51,716 51,716

243,891 243,891

154,000 154,000

259,100 259,100

259,100 259,100

Sub-Total Transfers In

Total Revenues & Transfers In

3,633,641 $

2,730,866 $

4,304,944 $

4,267,733 $

4,342,131 $

4,403,579 $

Expenditures By Urban Renewal Area: City-University I

1,289,291 $

$

699,472

2,062,343 $

1,668,574 $

1,773,674 $

1,773,674 $

Sycamore & 1st Ave

- - -

-

200,000

959,892

- - -

- - -

Scott 6 Industrial

27,414

-

-

Heinz Road

-

389,530 263,387 135,977

93,777 264,196 143,454

Riverside Drive

256,501

257,459

264,196 154,160

264,196 154,160

Foster Road

-

-

Sub-Total Expenditures

1,545,792

984,345

3,051,238

3,129,893

2,192,030

2,192,030

Transfers Out:

TIF Debt Transfers Out Sub-Total Transfers Out

2,282,448 2,282,448

1,108,346 1,108,346

1,864,075 1,864,075

1,838,245 1,838,245

1,731,927 1,731,927

2,084,600 2,084,600

Total Expenditures & Transfers Out

3,828,241 $

2,092,690 $ 1,421,525 $

4,915,313 $

4,968,138 $

3,923,957 $

4,276,630 $

Fund Balance, June 30

$

783,349 47,651 735,698

$

811,156 170,706 640,449

$

110,750 287,738 (176,988)

$

528,924 413,869 115,055

$

655,874 539,999 115,874

Restricted / Committed /Assigned

47,651

Unassigned Balance

$

1,373,874 $

$

$

$

$

% of Revenues & Transfers In

20%

50%

15%

-4%

3%

3%

411