Master Proposed Book FY2023

Expenditures: Transfers out to the General Fund and the Road Use Tax Fund for employee benefit costs totals $13,446,978 in fiscal year 2023. This accounts for more than 90% of the fund’s expenditures in fiscal year 2023, and they grew by $295,899 or 2.24% over fiscal year 2022.

Long-term Projections:

Employee Benefits revenue is heavily dependent upon property tax revenues. Property tax revenues are estimated to have 0% increase in fiscal year 2024 and to increase by 3.00% in fiscal years 2025 and later. Future expenditures are projected with the assumptions that personnel related expenditures will grow at a 3% rate annually and services will grow at a 2% rate annually. A large proportion of expenditures for the Employee Benefits Fund is the transfers out to the General Fund and Road Use Tax Fund to cover personnel benefits expense. These transfers are projected to grow at the same level as the property tax revenues.

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