FY24 Adopted Budget

6.4% of the fiscal year 2023 revised budget of $6.7 million and there is an average increase of 3.7% over the last five years. The average increase amounts are due to the increases in administrative chargebacks. 8. Other Financing Sources – Other financing sources include a limited number of special transactions that are used to account for non-operating revenues/receipts such as the proceeds from a loan or the sale of an asset. Other Financing Sources are budgeted at $637,197 in fiscal year 2024, which is a decrease of 72.7% from the fiscal year 2023 revised budget of $2.3 million. The decrease is due to the expected sale of an industrial lot budgeted in fiscal year 2023. There is an average increase of 16.6% over the last five years. These increases are due to sales of homes within the UniverCity and South District home programs and the industrial lot. 9. Transfers In - The category is budgeted at $13.5 million in fiscal year 2024. This includes an approximate $13.2 million transfer-in of the Employee Benefits Levy from the Employee Benefits Fund. This category also includes General Fund intra-fund transfers to equipment replacement reserves and transfers in from other funds to support specific staff positions and expenditures.

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