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General Fund Balance and Reserve
<br />General Fund Balance (Unrrestdc ted) and Reserve
<br />$12,000,000
<br />$10,000,000
<br />$8,000,000
<br />L
<br />`—°
<br />o $6,000,000
<br />o
<br />$4,000,000
<br />a
<br />C7
<br />Eli1 °, El
<br />$2,000,000
<br />$
<br />2010 1 2077
<br />1 2012
<br />1 2013 1 2014 2015
<br />1 2016
<br />2017
<br />2018
<br />2079 2020 2021 2022
<br />�t v Fund Balance
<br />$9,953,628 $6,861,200
<br />1 $7,580,613
<br />$7,593,039 $7,593,039 $7,379,661
<br />$7,264,367
<br />$7,174,237
<br />$6,940,789
<br />$6,647,258 $6,344,237 56,000,391 5,580,384
<br />-- 0 -- Emergency Reserve
<br />$4,384,042 $4,139,155
<br />1
<br />$4,195,695
<br />$4,218,801 $4,372,946 $4,402,864
<br />$4,510,109
<br />$4,620,322
<br />$4,733,591
<br />$4,850,005 $4,969,655 55,092,637 55,219,046
<br />Years
<br />---Fund Balance o >Emergency Reserve
<br />The City Commission requires that the General Fund maintains a fund balance equal to 25% of annual
<br />operating and personnel costs. It is needed as a liquidity cushion and protection in case of an
<br />emergency. Please note fund balance levels are projected to remain above the minimum liquidity
<br />requirement through the end of the forecast period which is a strong indicator of sustainability. Also,
<br />the forecast is very conservative assuming every budgeted dollar is spent. Normally, the City does
<br />return significant money each year unspent that serves to enhance fund balance reserves.
<br />CONCLUSION
<br />The Proposed Budget for FY 2014 is presented for your consideration. The City-wide budget totals
<br />$45,549,075 which is about $2 million or 4.4% greater than the Adopted Budget approved for FY 2013.
<br />The growth is driven by the release of money in the Water and Sewer Fund, as well as, the
<br />Neighborhood Capital Improvement Fund to fund utility capital improvements and to provide resources
<br />for road rehabilitation projects. The Water and Sewer Fund stepped up its capital improvement budget
<br />by over $3 million over FY 2013 with ambitious plans.
<br />The millage rate remains at 5.45 mills. Due to the increase in taxable value reported for Casselberry, tax
<br />revenues will be about $101,000 more than FY 2013. That and gains in some other revenue sources
<br />allow the General Fund budget to grow to $18,655,820 which is 1.2% greater than the budget for FY
<br />2013. The growth is needed for operating and capital outlay. The General Fund budget is balanced with
<br />no planned reliance on fund balance reserves.
<br />A-15
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