FY25 Proposed Budget

The Equipment Fund’s unassigned fund balance is budgeted to increase in fiscal year 2024 by $524,370 or 17.1% from fiscal year 2023 to $3,589,290. 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 $3,975,290 in fiscal year 2025 and $4,356,567 in fiscal year 2026. This increase is due to the transfers to the Capital Projects fund for the Equipment Maintenance Facility and are budgeted to come from the Replacement Reserve restricted fund balance rather than normal operational funds. Total fund balance is projected to be $20,811,558 in fiscal year 2024, a decrease of $243,846 or 1.2% over the previous fiscal year. The decrease in fund balance is due the design of a new equipment maintenance facility. In fiscal year 2025, the total fund balance is expected to decrease by $6,640,100 or 31.9% which is due to the construction of a new equipment maintenance facility. Fund balance growth is expected to increase in fiscal year 2026 due to the previously mentioned capital project transfers being completed.

659