FY25 Proposed Budget

Tax Increment Financing (2601 - 2616) Fund Summary

2022

2023

2024

2024

2025

2026

Actual

Actual

Budget

Revised

Budget

Projected

Fund Balance, July 1

$ 1,421,525 $

811,156 $

110,750 $

186,089 $

481,172 $

707,472

Revenues:

Other City Taxes TIF Revenues

$ 4,016,096 4,093,617 $ $ 4,083,031 4,059,847 $ $ 4,388,100 $ 4,552,300

Use Of Money And Property Interest Revenues

-

58,129

-

-

-

-

Intergovernmental

Property Tax Credits

44,958

2,903

-

-

-

-

Sub-Total Revenues

4,061,053 4,154,649

4,083,031 4,059,847

4,388,100

4,552,300

Transfers In:

Transfers In

243,891 243,891

80,601 80,601

259,100 259,100

259,100 259,100

150,000 150,000

150,000 150,000

Sub-Total Transfers In

Total Revenues & Transfers In

$ 4,304,944 4,235,250 $ $ 4,342,131 4,318,947 $ $ 4,538,100 $ 4,702,300

Expenditures By Urban Renewal Area: City-University I

$ 2,062,343 1,592,349 $ $ 1,773,674 1,873,674 $ $ 2,378,200 $ 2,428,200

Sycamore & 1st Ave

200,000

959,892

- - -

-

- - -

- - - -

Scott 6 Industrial

-

-

53

Heinz Road

389,530 263,387 135,977

71,253 246,670 143,724

-

Riverside Drive

264,196 154,160

264,196 154,160

194,500 154,300

Foster Road

154,300

Sub-Total Expenditures

3,051,238 3,013,888

2,192,030 2,292,083

2,727,000

2,582,500

Transfers Out:

TIF Debt Transfers Out Sub-Total Transfers Out

1,864,075 1,846,429 1,864,075 1,846,429

1,731,927 1,731,780 1,731,927 1,731,780

1,584,800 1,584,800

1,993,500 1,993,500

Total Expenditures & Transfers Out

$ 4,915,313 4,860,317 $ $ 3,923,957 4,023,863 $ $ 4,311,800 $ 4,576,000

Fund Balance, June 30

$

811,156 $

186,089 $

528,924 $

481,172 $

707,472 $

833,772 674,059 159,713

Restricted / Committed /Assigned

170,706

295,329

413,869

421,459

547,759

Unassigned Balance

$

640,449 $ (109,241) $

115,055 $

59,713 $

159,713 $

% of Revenues & Transfers In

15%

-3%

3%

1%

4%

3%

404