The URL can be used to link to this page

Home My WebLink About09252023 City Council Work Session PresentationFY 2024 Draft Budget Work Session SEPTEMBER 25, 2023 Topics • FY24 Budget Calendar • FY23 Overview • Fire and Police Pension Funds • Property Tax Estimation • FY24 Draft Budget General Fund Park & Recreation Fund Economic Development Fund Water Fund CITY OF �11�GALESBURG CITY OF GALESBURG Budget Schedule April -June —Forecast performed by departments July— Budgets due from departments August— Recommended revenue adjustments due from departments September — Balance/Discuss budget; provide draft budgets to Council; first reading on revenue adjustments October — Second reading on revenue adjustments; property tax estimation resolution November — Public hearing for budget; first and second readings on property taxes December — Approve budget; provide tax levy ordinances to County Clerk CITY OF GALESBURG 2023 Review Budget CITY .,IV, T . General RevenuesExpensesExpenses 26,686,945 1,335,385 28,022,330 27,423,395 2% Park Fund 4,739,695 1,096,060 5,835,755 5,380,650 8% Economic Development 1,110,735 384,180 1,494,915 974,130 53% Public Transportation Services 2,532,610 2,532,610 2,289,195 11% Storm Water Utility 743,850 280,750 1,024,600 1,290,300 -21% Other Special Revenue 11,660,375 2,682,770 14,323,625 14,685,350 -2% Debt Service Funds 1,085,405 - 1,085,405 1,077,935 1% TIF Funds 426,100 592,750 1,010,370 1,425,720 -29% Replacement Program Funds 1,781,715 487,330 1,442,370 708,085 104% Utility Tax Capital Projects 1,506,150 669,785 2,175,935 1,195,070 82% Other Capital Project Funds 94,610 1,275,000 1,369,610 86,010 1492% Water Operations 7,123,600 - 6,571,250 6,519,190 1% Refuse 3,120,850 - 3,120,785 2,891,510 8% Risk Management 1,154,115 - 1,152,545 1,004,530 15% OPEB Trust 141,025 - 1,800 1,500 20% Permanent Funds 291900 1,600 18,700 17,900 4% Grand Total -All Funds 63,937,680 8,805,610 71,18205 66,9701470 6% CITY OF GALESBURG 2023 Tax Revenue Highlights Shared Tax Comparisons CITY OF GALESBURG As of August 2023 IV, 3,401,602 3,387,418 3,483,162 3,500,000 3,068,434 3,000,000 2,689,137 ,155,486 2,936,034 2,500,000 2,142,21 2,374,839 2,407,026 2,445,345 2,000,O00 1,500,000 1,803,465 1,000,000 2020 2021 2022 2023 Sales —a—lacome Tax -b—Name Rule Shared Tax Comparisons As of August 2023 2,250,000 2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 5f 634,SS 2,092,037 CITY OF MEGALESBURG v1111 613 87 M 250,000 118 9�z 165,82S 210,637 28 ,737 IS1,708 151,981 2020 2021 2022 2023 mme�Replacement Local Use --*--Telecomm Fee --o —Video Gambling Food & Beverage and CITY OF GALESBURG Hotel/Motel Taxes as of June � $1,000, 000 $872,062 R�� 99 $378,331 2022 $952,646 0 Food & Beverage 0 Hotel/Motel $419,116 2023 Hotel/Motel Tax Distribution As of June 2023 CITY OF IV, i T 10.8% Total Hotel/Motel Tax Rate Distribution of Hotel/Motel Tax City $98.405 Galesburg Promise - 3.8% $147:467 Orpheum Contract $100:000 $77:614 Galesburg Tourism - Contract $190.000 $95:000 Fire & Police Pension Funds CITY OF Fi ,,l, T, ---mmow-- IiMEGALESBURG Public Safety Pensions Actual Vs. Actuarial Amoun ", , W, $7,000,000 $6,000,000 5,132,994 5,246,020 5,362,051 55,000,000 4,593,016 4,652,215 4,589,940 4,751,947 ,496,304 F - 3,94 �4,000,000 3,36S, $3,000,000 3,.504,817 �,190,948 2,757,93S $2,000,000 SRO�FFS _120.959 CITY OF ARMS 1111m., GALESBURG ts 5,475,525 fi,A4fi,076 'fi07 7,037,069 6,014,28S 4rgggR6g5 4,939,031 4,776,060 4,991,501 4,422,703 4,141,654 51,000,0100 201S 2016 2017 2018 2019 20210 2021 2022 2023 2024 Draft Budget —Actuarial - Police & Fire State Min. - Police & Fire Actual - Police & Fire Police Pension Funding FY 2015 - 2024 4,500,000 4,270,139 4,000,000 3,573,722 3,500,000 360,35 3,345,94 3,108,16 3,058,690 3.000.000 %. 2,780,2 2,650,318 ff 2,511,651 2,528,34 2,434,385 2,SQQ,000 2,383,891 2,264,616 2,294,3 2,423,797 2,287,8319 �� 2,229,641 �� 2,543,660 2,199,249 2,956, 983 2,478,490 2,434,385 2,294,124 2,000,000 V f 2,074,943 1,657 4 1,860,991 1,907,926 1,931,121 1,500,000 1' 621,627 1,390,698 1,000,000 500,000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Draft Budget —Actuarial - Police State Min - Police —Actual Police CITY OF 1111GALESBURG 1111 • Based on actuarial recommended contribution (ARC) amount Actuarial values of assets $32,762,087 • Actuarial accrued liability $66,229,779 • Unfunded actuarial accrued liability $33,467,692 Percent funded 49.47% Fire Pension Funding GALESBURG FY 2015 2024 4,500,000 • Based on actuarial 4,205,389 recommended contribution 4,000,000 (ARC) amount 3,463,347 3,500,000 3,337,911 3,324,32 3,261,490 Actuarial values of assets 3,0Q4,444 2,833,70 3,054,2 2,955,595 $ 29, 013, 668 2,734,369 2,69 7,16 2 2,482,67 2,522,306 2,547,344 Actuarial accrued liability 2,500,000 2,328,400 2,357,896 2,389,691 2,554.521 2,341,675 2,096,966 2,112,413 2,460,541 2,447,841 $59,798,327 2,347,760 2,341,675 2,000,000 2,210,533 1,708 3 2,067,910 • Unfunded actuarial accrued 1,500,000 �1,5fi9,321 1,643,825 liability $30, 784, 659 1,367,237 1,000,000 Percent funded 48.52% 500,000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Draft Budget -Actuarial - Fire -State Min - Fire -Actual Fire Public Safety Employer CITY OF GALESBURG Pension Contribution OptionsFili7 FY23 Fire ARC rreco mme ndat i o n n .,61.,480; State minimum $2,341,675 FY23 Po I ice A RC recomme ndat i o n .,45.,945; State r i n imu rn $2,434,385 FY 3 public safety pension contributions are . 1,811,369less than total ARC Public Safety Pensions FY24 Property Tax Options Estimated Tax Rate CITY OF Fi Ii,,l, , All Leery Line Items for City hg *Truth in Estimated Tax from FY 3 Taxation Amount Per Levy Per Hearing $50K $50K Required �:tRq 1 A I 1�1'R&dll Nn Minimum + $100K $5,091,505 $ 95,450 6.16 a $ .36 $393.03 ($14.54) No Median $6,014, 85 $1, 18, 30 25.40% $ .57 $428.981 $21.411 Yes Actuary $7,0 7,069 $ , 41,014 46.73% $ .81 $468.831 $61.261 lies FY23 Total Pub fic .Safety Pension Fund Property Tarr Extension Amount: $4, 796,056 *Hearing is required if FY24 total levy request is greater thou 5.°6 ($485,. 95) of FY23 levy extension omount. Proposed FY24 Property Tax 11 CITY OF GALESBURG Comparison to FY23 Property Tax i Description FY23 Rate FY23 Extension FY24 Est_ Rate FY24 Proposed Levy Change r6 Change Current r6 of Levy New of Levy General/Park & Rec $0.330 $1,310,725 $0.306 $1,310,725 $0 0% 14% 13% I RF 0.072 285,035 0.067 285,000 (35) 0% 3% 3% Social Security 0.063 250,101 0.058 250,100 (1) 0% 3% 2% Policemens Pension 0.616 2,445,031 0.606 2,593,660 1148,629 6% 25% 26% Library 0„432 1,716,087 0.421 1,800,800 84,713 5°0 18% 18% General - Fire 0.340 1,349,908 0.316 1,349,910 2 0% 14% 13% Firemens Pension 0.592 2,351,025 0.584 2,497,845 146 820 6% 24% 25% Total $2.445 $9,707,911 1 $2.3581 $10,088,04J380,129 3.92 100% 100% Property Tax Estimation Examples $501000 HOME VALUE CITY OF 1111 ,GALESBURG 1111 $1001000 HOME VALUE FY23 FY24 Change FY23 FY24 Change Current Estimate Current Estimate L A $407.57 $393.03 ($14.54) $815.14 $786.06 ($29.08) CITY OF GALESBURG 2024 Draft Budget 2024 Draft Budget Fund General 2024 Revenues $29,998,245 Use from Other Sources $756,695 V 2024 Expenses $30,754,940 Park Fund 5,425,910 867,450 6,293,360 Economic Development 1,246,375 7,095 1,253,470 Public Transportation Services 2,793,490 - 2,793,490 Storm Water Utility 758,100 379,455 1,137,555 Other Special Revenue Funds 11,017,875 1,746,345 12,577,875 Debt Service Funds 1,477,630 - 1,477,630 Replacement Program Funds 944,005 552,845 1,496,850 Utility Tax Capital Projects 1,564,200 801,730 2,365,930 Other Capital Project Funds 570,310 8,287,460 8,848,090 Water Operations 7,694,600 - 6,988,100 Refuse 3,262,165 - 3,238,775 Risk Management 1,264,510 - 1,229,330 OPEB Trust 1,241,455 - 1,241,455 Permanent Funds 32,500 - 21,500 Grand Total - All Funds $69,91,370 $13,399,075 $81,718,350 CITY OF GALESBURG 20 FY24 General Fund CITY OF Fi ,,l, T, ---mmow-- IiMEGALESBURG FY 24 General Fund Revenues CITY OF - 11 GALESBURG & Expenditures — Draft = i-A General Fund Fund Balance Estimate CITY OF 1111GALESBURG i 1111 i 112023 unassigned =und Balance 11p23.5p793 FY 23 Budgeted use of reserves (1p335r395) FY 24 Budgeted use of reserves (75Gr695) 1 31/24 Estimated Unassigned Fund Balance %143r703 1 31/24 Estimated Required Unassigned Fund Balance 9p141p547 1 31/24 Estimated Surplus/(Deficit) of Unassigned Fund Balance ors. Required Unassigned Fund Balance 2p1.56 Mote: FY2-4 fire and police pension funds are budgeted at the median of the annual required contribution amount (ARC) and State minimum which is $1,022,784 above the State minimume and below the ABC recommendation CITY OF GALESBURG General Fund Revenues General Fund Revenues by Category Description 2024 Proposed 2023 Adopted Change 2f 76 410 F i Change Ta e72:5,1979 f 45 23f 103435 1 Licenses and Permits 4171800 4041200 131600 Fines and Costs 2901200 2941100 (31900) -1 Use of Morey & Property 111041060 7461150 3571910 4 Intergovernmental Revenue 112901550 111641165 1261385 11 Charges for Current Services 8751790 9461295 (701505) -7 Other Revenue 401000 281600 111400 40 Jotal Revenues 2919981245 2616861945 313111300 1 Tuxes moke up 87116 of revenue sour ce General Fund Tax Revenue CITY OF GALESBURG 1111E D e scri pti on Property Takes 2024 Proposed gr 025.rO95.00 2023 Adopted 7r729.r555. 2022 Actual 718301 6.63 2021 Actual 7r635r172.92 SSA #1 Property Tax 1s1r 000. 00 187.r930.00 1661 545.51 1211 5.05 Replacement Taxes 2r 0gor 000. 00 1r 5 ��. �� 3,1.4241 11.7521.567.08 State Income Tax 4r 3 70r 000. 00 31.511r 200. 00 4,r 597r-9 5.5. 3 5 4r 0991.13 9.62 Sales Tax .5r096r 2,5 0.DO 4r444r750.00 5.r 191r49 5. 00 .5r1S5r41S. Local Use Tax II.045r500.00 1r I.400. 00 1,r 034r 3 75.38 11.0591.671.93 Horse Pule Tax 2r914r000.00 2,758,600.00 3 r 099 r058.53 3r07DJ59.77 Prepared Foal & Pev Tax 11 655.r000.00 1r476r000.00 1r 645r935.66 11.5 901. 3 79.94 Video Gambling Tax 607r000.00 0,000.00, .591r345.18 .526r366.01 Municipal Auto Rental Tax 1.5,000.00 15,000.00 161-905.87 15.r262.69 Taxes 251979 r 945.00 23 r 1031.43 S . 00 27.pb5gp191. 25.pO56j.2 . 67 of tax r even u e is esVm ated to com e fr o m th e to v 3 tox reveo u e s o u r ces General Fund FY23 and FY24 CITY OF - 'I ANI'Mil GALESBURG Tax Revenue Comparisons �1111 pb on Drnperiy Taxes 2024 Nopmed 8,025,095 2023 Adopted 7r729,. 55 $ Chanig 2951.540 % Change 4 SSA #1 Droperty Tax 181,000 187,930 930) -4 Replacement Taxes 2F 0gor 000 ir.50or 000 5801.000 3 9 State Income Tax 4r 3 70r 000 3r511r 200 ,r goo 24 Sales Tax 5rOSGI.250 4rr75 �5 14 LncaJ Use Tax 1r 045 1.500 1r 0401.400 5,100 C1 Home Rule Tax 2r914r000 2r75gr600 1551.400 6 Prepared Food & Bev Tax 1r 65 6r000 1r476r000 1sor000 12% Video Gambling Tax 6071.000 440r 000 167r 000 3 9% Municipal Auto Rental Tax 1.51.000 15,000 - 0 Taxes 25j.979.p5 23j.103r435 21876141Cr 1� a Top 3 tgx revenue incregses makes up $2, 08Q300 or 72 of totoi to Is ;ncr.eo.es CITY OF GALESBURG General Fund Expenditures General Fund Expenditure CITY OF GALESBURG Highlights • Use of additional sources other than property taxes for Police and Fire pension contributions to bring up to the median amount totals $922,780: • $465,030 additional funds for police pension contribution • $457,750 additional funds for fire pension contribution • Central fire station water line replacement project • Central fire station electrical upgrade project • Brooks Street fire station generator replacement • Fremont Street fire station concrete repair • Fully funding the vehicle, building, and computer replacement programs - $346,920 General Fund Expenditures by Department CITY OF 1111GALESBURG i 1111 i Department 2024 Proposed 2D23 Adopted 2D22 Actual 2021 Actual $Change % Change Administration 41075395 4r136+075 9355,977 50 850908 (60,680) -1 Finance 11526X80 1r344+570 1348,D57 102730425 1811510 13 Community Deve lo:D me 7t 1�040,835 100030875 1,027,856 860X 16 361960 4 Public Works 3�260,245 209840345 3,235,2D8 20846,965 275 900 9 Police 12J07,725 1007900080 12,451,867 907860326 1,317r645 12 a Fire V44,660 707630385 9,3D5,993 703400485 981�275 13 a Total A754,940 800 0330 36,724,958 2703930126 2,732�610 10 a FY24 budyets for the pafrce and fire departments increased by $2,298,920 or85 of tataf increases fo v the Genevoo Fund, General Fund Expenditures by Category CITY OF 1111 ,GALESBURG 1111 Budget Proposed Adopted Personnel Services ._82% 25,07 , �O ?386,930 16 51350 1 Contractual Sergi ces 11 35051835 25821320 9231515 36% Commodities 3 8561245 6981660 1571585 23% Capital Outlay 0 - 601000 (60,000) -100% Other Charges 4 113201580 � 94F420 (973,840) -42% Expense 100% 30,754,940 28,022,330 21732,610 10 General Fund % of Expenditures by Category CITY OF 1111GALESBURG i 1111 i • 1 f � F • f• f � TIM r s M Pe s �e I e uric es 82% 80°/3 69 � Co�t-actua I Se - prices 11% 9 6�) Co �� mod it ies 3% 2 � r � 2% Ca : ita I Out lay 0% 0% 0�:') 0 Ot he r C ha r ges 4% 8 2,3�, V') 14% General Fund Personnel Costs by Department CITY OF 1111GALESBURG i 1111 i Fund Name 202-4 Requested 2D23 Adopted 2022 Actua 1 2021 Actual Administration S 7 6 7 Finance 5 5 4 5 Community Development 3 4 3 3 Public Works 9 9 S 10 Police 45 45 43 Fire 31 3 1 34 33 Total 100 100 100 100 FY24 Park & Recreation Fund Fi = i FY24 Park & Recreation Fund CITY OF GALESBURG Revenues & Expenditures — Draft ri ii,1117, -A Park & Recreation Fund Fund Balance Estimate CITY OF v1il GALESBURG 1/1/2023 fund balance 213421279 FY23 budgeted use of fund balance FY 4 budgeters use of fund balance 1 /31/ 4 estimated fund balance 5. 8 or 3 weeks fund balance reserve (11096,060) (867,450) 3781769 961`036 Park & Recreation Revenues � = i Park & Recreation Fund Revenues by Category CITY OF GALESBURG Description 2D24 F g 4711955 Change Taxes 4AO� 395,00 305780 0.00 13% C -QC- ges f o I Current Services 500000. 00 440000.00 61000 14 Other Revenue 47+7 5.00 430800.00 30925 9 Transfer From Other Funds 13)800.00 350700.00 (21,900) -61 ,Revenues 1 504250910.00 407390695.00 6861215 1 14 FY24r, Taxes catE!y ory makes up 75 of reversve source; use of property -categ ory makes up 23 of remnue source3 Park & Recreation Fund CITY OF - 'I GALESBURG Tax Revenue � '. of • Taxes with General • Orb Description Property Taxes 424 Proposed 262,f 45 2023 Adopted 2620140 20224 Actual 244�522 Actual 2230818 5 0 5 State I nco rye Tax 230,000 1840800 246r735 2150218 450200 4 25% Sales Tax 1r67,750 1r465r750 1,711r049 10713+005 140000 15 15 Local Use Tax 184�500 183r600 181537 189+716 900 0 18 Home Rule Tax 660X0 618J50 699r 39 6760923 410850 7 10 Prepared Food & Bev Tax 184X0 164X0 1820775 1750598 200000 1 100 Hotel Motel Tax 850X0 700r000 896r385 739+677 1500000 1 Taxes 4,050,395 3,578,440 4,163,242 3,933,955 471,955 18 FY24 highfig hted tax revenues tatafs$.3,189,750 or 79% of tox reven u e s o u rc -F Park & Recreation Fund CITY OF ANI'Mil GALESBURG ME Facility Revenues � Description1 Bunker Links Goff Course + Proposed 694,450 2023 Adopted 601,750 20224 Actual 647r278 Actual 5950406 920700 15% Campground 132,500 107,500 127�932 1100917 250000 3 Lake Storey Beach & Concessions 221200 19,700 M018 180143 20500 13 Hawthorne Pawl and Corm 250000 21,500 14�469 160288 30500 16 Lakeside Pool 1320400 100,100 113r438 A40113 320300 3 % Lakeside Recreation Facility 5r130 23,850 26X7 200175 10280 5 Pavilion Revenues 400000 35,000 24r298 80250 50000 14% Recreation Programs 97r800 95�500 91r609 A40988 20300 Parks & Rec Rental Facilities 120500 12X0 86 60771 500 4 Total Recreation Facilities & Programs 1+181r980 1�016�900 1�063r433 8650050 165,0B0 16% Hrghfig hted revenues accounts for approx. .$9,59K or81% of Pork & Recreotrar, focl;,'I;tles and prayrams revenue Park & Recreation Fund CITY OF Expenditures vli7 Park & Recreation Fund Expenditures by Category CITY OF 1111 ,GALESBURG 1111 Pesa �e I Se ---.,,ices )1 3r250 3033130 2648753 2444459 100+1 0 CoMEN �t a c tua I Se ':rig es 0671770 15601490 1�531�7 3 1+353�367 4070280 6 Commodities 769 960 720595 614 544 545374 49 365 7 0t �e C ges 4221380 52 1r540 613�519 208P6 (99J60) -19 Total Expenses 61 931360 5X5r755 5AO88 539 4a551� 76 4570605 8 FY24 Personnel services is 50 of total expenses and con tracto al services is31 of tataf expenses Park & Recreation Fund Expenditures by Division CITY OF GALESBURG Parks & Recreation Admin Proposed 2,285,395 Adopted 2,308,020 Actual 2,234,126 Actual 2,055,742 (22,625) -1% City Hall Bldgs & Grounds 224,155 188,150 174,034 223,916 36,005 19% PSB Bldgs & Grounds 195,400 132,600 153,451 130,782 62,800 47% Parks Operation & Maintenance 698,030 714,110 663,672 512,798 (16,080) -2% Golf Course 1,055,910 884,280 764,619 668,349 171,630 19% Allison Campground 84,500 96,175 142,415 59,572 (11,675) -12% Lake Storey Beach 94,770 110,055 55,593 51,918 (15,285) -14% Pavilion 117,760 1011700 88,024 58,697 16,060 16% Recreation Special Programs 236,475 227,205 185,823 80,219 9,270 4% Lakeside Recreation Facility 159,300 140,065 93,286 87,461 19,235 14% Lakeside Water Park 495,910 257,355 252,983 114,717 239,555 93% Hawthorne Pool 145,350 126,855 59,355 108,184 18,495 15% Hawthorne Gymnasium 37,500 28,410 49,506 16,101 9,090 32% Linwood Cemetery 199,060 220,525 201,632 152,290 (21,465) -10% Forestry 263,845 280,585 238,558 230,531 (16,740) -6% Community Center - j 19,665 51,461 - (19,665) -100% Total Parks & Recreation 6,293,360 1 5,835,755 5,408,539 4,551,276 457,605 8% Highlighted divisions totals approx. $4.8M or 7690 of Park & Recreation expenses FY24 Economic Development Fund CITY OF MEGALESBURG Fi 1111 � T Economic Development Fund CITY OF GALESBURG Revenues & Expenditures Fi =T -A MDescription Amount Examples of Budgeted Items Revenue: Taxes 1.?1K000 Horne ru I tax Use of Money/Property 146,375 Interest i ncorne Total Revenue 1,246 .375 Expenditures: Personnel 116�710 Econornic development salaries Contractual Services 155. 000 I n ox Counter Partnership Contractual Services 8 �075 Utilities, dennol itionsf insu ra ncef etc. Other Charges (:� �898,68taxes, External agencies, business grants, tax rebate, bond payments Total Expenditures 1,253,470 Est i mated ava i la b le u nassigned fund balance for fiscal year ending 2024: 1.4 million Economic Development Fund CITY OF GALESBURG "Other Charges" Breakdown Fi li,1117, --MMMMMV--A Description - % Proposed Adopted _ Contributions to Others 620X0 421X0 4401328 4560506 199X0 47 Property Tax 40� 50 251225 291118 240002 15�0 5 60 Transfer to Other Funds MAO 5921385 2391248 2400896 (361�305) -61 Lease Payments 7�355 71140 61929 60728 215 3 Total Other Charges :99%6:95 1,045.F750 715.p624 728o132 (147oD65) -114 FY24 Water Fund CITY OF Fi li,1117, GALESBURG Water Fund CITY OF GALESBURG FY22 vs FY23 Revenue Highlights �MEN- SALE OF WATER PAUCITY FEES January 348,653 322,999 25,654 8% February 304,974 1 325,618 (20,644) -6% March 280,077 298,764 (18,687) -6% April 355,395 342,277 13,118 4% May 309,183 309,281 (98) 0% June 377,521 340,934 36,587 11% July 405,185 396,929 8,256 2% August 330,056 320,992 9,064 3% Total 2,711,044 2,657,794 53,249 2% January 222,106 217,679 Change 4,427 Change 2% February 222,009 217,579 4,430 2% March 221,729 217,758 3,970 2% April 221,236 217,656 3,580 2% May 222,062 217,288 4,774 2% June 222,041 217,262 4,779 2% July 222,165 216,992 5,173 2% August 221,847 216,584 5,264 2% Total 1,775,196 1,738,798 36,398 2% Amounts shown are revenue that is booked but does not mean revenue received Water Costs at Past, Current GALESBURG CITY OF and Proposed Rates Monthly water costs for a household with consumption of 4,488 gallons (6 units) 2022 $2.59 $16.47 $32.01 $1.10 2023 $2.68 $17.04 $33.12 $1.11 2024 $2.77 $17.64 $34.26 $1.14 3.56% 3.47% 3.44% Total Water Revenue FY 2022 - 2024 CITY OF GALESBURG Description Sale of Water PropGsed 41165,000 Adopted 3,902,000 Actual 41.020p919 Change 263FOOD Change 7 Water Facility Fees 2/.7311000 2,6 ,000 21.5991.991 471.000 2 Penalties 140,000 12-5,000 171,053 15,000 12 Turn On Fees 37..000 35..000 371.369 2FOOD 6 Delinque tit Fees 150..000 90..000 271.775 GOP000 6 Charges for Current Services 68..000 63r500 72r205 41.500 Sanitary Service Fees 2-00,000 170,000 2-F012 3or000 19 Miscellaneous Other Revenue 203,E 54.1.100 1421.539 1491.5DO 276 Total Revenues 7r 694.1. 600 7r 123.1. 6430 71.2751`75 2 5 711. ODD 9 FY24 Safe of water an d f acifrty fees com bin ed eq u als $6,896, 000 or 90 of water never u e Water Fund Expenses by Category CITY OF 1111 ,GALESBURG 1111 Estimated Water Fund Cash Flow Total Revenues Total Operating Expenses Nonoperating Items Interest Income/Mist Interest expense (debt) Total nonoper-ating items Bonds/Loans Issued Bond Prin & Est Debt Capital Outlay Total Other Annual Net Surplus / (Deficit) Beg Current Net Position Ending Current Net BGsition Calculated 30% Fund Balance CITY OF GALESBURG Budget �.EstimateEstimateEstimate IFY 2-8 Ltimarte 7,093,600 7,514,600 7,769,148 8,032,462 8,304,845 8,586,613 4,962,735 6,546,690 5,693,488 5,932,614 6,181,784 6,441,419 30,DDD MUDD 133,945 13,030 141,121 1D7,246 (4D7,294) (374,694) (348,319) (319,869) (284,119) (247,119) (377,294) (194,694) 214 374) (306,839) J142,997) (139,873) 10,000,000 10.100C,000 (971,406) (1,001,406) (1,751,406) (1,781,406) (2,536,406) (2,576,406) (305,900) (6,785,000) (5,817,000) (7,135,000) (3,695,000) (1,445,000) (1,277,306) (7,786,406) 2,431,594 (8,916,406) 3,768,594 (4,021,406) 476,266 (7,013,189) 4,292,88D (7,1 3,397) 5,748,658 (2,016,084) 10,D31,962 10,508,227 3,495,039 7,787,918 664,521 6,413,179 10,509,227 3,4951038 7,7371918 664,521 61413,179 413971095 Reserve Estimate 1,488,821 1,964,007 1,708,046 1,779,784 1,854,535 1,932,426 CITY OF GALESBURG Questions