FY2024 Proposed Budget

The Equipment Fund’s unassigned fund balance is budgeted to increase in fiscal year 2023 by $738,462 or 19% from fiscal year 2022 to $3,886,073. This budgeted increase is due to chargebacks expected to be higher than expenses. Unassigned fund balance is projected to start increasing in future years as well to $4,509,143 in fiscal year 2024 and $5,137,040 in fiscal year 2025. This increase is due to the transfers to the Capital Projects fund for the replacement of the Equipment Maintenance Facility are budgeted to come from the Replacement Reserve restricted fund balance rather than normal operational funds. Total fund balance is projected to be $19,121,733 in fiscal year 2023, a decrease of $1,031,056 or 5.12% over the previous fiscal year. The decrease in fund balance is due to an increase in vehicle replacements. In fiscal year 2024, the total fund balance is expected to decrease by $5,311,341 or 27.78% which is due to capital projects. Fund balance growth is expected to increase in fiscal year 2025 due to the previously mentioned capital project transfers being completed.

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