FY24 Adopted 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 1,108,346 2,282,448 1,108,346

1,864,075 1,838,245 1,864,075 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 $ $ 4,915,313 4,968,138 $ $ 3,923,957 $ 4,276,630

Fund Balance, June 30

$

783,349 1,421,525 $ $

811,156 $

110,750 $

528,924 $

655,874 539,999 115,874

Restricted / Committed /Assigned

47,651

47,651

170,706

287,738

413,869

Unassigned Balance

$

735,698 1,373,874 $ $

640,449 $ (176,988) $

115,055 $

% of Revenues & Transfers In

20%

50%

15%

-4%

3%

3%

411