I-1 - Preliminary Official Statement - GO Bond 2024A

Budget Summary 2023/24 2022/23 2021/22 Adopted Budget Re-Estimated Actual Revenues Net Property Taxes $3,261,821 $2,951,446 $2,599,079 TIF 1,874,666 1,653,892 1,571,759 Other City Taxes 79,681 5,000 7,158 License/Permits 414,469 412,212 554,815 Use of Money & Property 192,769 45,625 45,289 Intergovernmental 1,211,648 569,527 1,058,031 Charges for Fees & Services 3,036,829 2,839,950 2,824,497 Miscellaneous 87,700 81,200 379,083 Other Financing Sources 6,950,000 100,000 2,874,872 Transfers In 3,027,734 2,302,288 2,745,001 Total Revenues $20,137,317 $10,961,140 $14,659,584 Expenditures: Public Safety $ 1,034,878 $ 852,384 $ 693,772 Public Works 756,951 508,021 819,842 Culture & Recreation 545,739 440,653 540,466 Community & Economic Development 255,940 132,916 152,923 General Government 520,635 544,689 452,875 Debt Service 2,787,978 2,170,209 1,992,944 Capital Projects 2,080,000 2,158,000 2,842,563 Enterprise 4,029,499 3,010,161 2,935,634 Transfers Out 3,027,734 2,302,288 2,745,001 Total Expenditures & Transfers Out $15,039,354 $12,119,321 $13,176,020 Revenue & Other Sources Over 5,097,963 (1,158,181) 1,483,564 (Under) Expenditures/Transfers Out Beginning Fund Balance July 1 $9,711,350 $10,869,531 $9,385,967 Ending Fund Balance June 30 $14,809,313 $9,711,350 $10,869,531 Residential Development There were 132 single-family dwellings and 21 multi-family dwellings constructed in 2023. – 17 –