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GENERAL FUND SIX YEAR FINANCIAL FORECAST, FY07 THROUGH FY12
<br />Executive Summary: Resources and Requirements
<br /> January Base Scenario, plus $2 Million Service Additions in FY07, plus assumption of Library Services in FY08
<br /> April 2006
<br />
<br /> Actual Actual Estimated
<br />Forecast
<br />FY04FY05FY06FY07FY08FY09FY10FY11FY12
<br />Resources
<br />Beginning Working Capital(A)$ 24,309,013 $ 32,343,749 $ 29,141,626 $ 26,340,566 $ 28,910,000 $ 23,736,000 $ 19,615,000 $ 15,573,000
<br /> $ 11,744,000
<br />Current Revenues(A) 101,501,038 102,276,905 104,087,160 109,569,188 112,904,000 117,460,000 121,334,000 125,955,000
<br /> 130,655,000
<br />Total Resources 125,810,051 134,620,654 133,228,786 135,909,754 141,814,000 141,196,000 140,949,000 141,528,000
<br /> 142,399,000
<br />Requirements
<br />Personnel(A) 63,533,686 67,524,226 74,011,778 75,465,532 82,011,000 84,580,000 87,474,000 90,805,000
<br /> 94,650,000
<br />Materials & Services(A) 24,300,845 25,894,654 25,460,582 26,968,679 29,447,000 30,202,000 30,921,000 31,803,000
<br /> 32,689,000
<br />Departmental Expenditures 87,834,532 93,418,880 99,472,360 102,434,211 111,458,000 114,782,000 118,395,000 122,608,000
<br /> 127,339,000
<br />Reappropriation & Encumbrances 1,649,585
<br />Non-Departmental Expenditures(1) 5,631,770 12,060,149 5,766,275 4,457,635 4,576,000 4,701,000 4,829,000
<br /> 4,962,000 5,097,000
<br />Future Growth & Service Additions - 2,000,000 2,044,000 2,098,000 2,152,000 2,214,000
<br /> 2,279,000
<br /> - -
<br />Total Expenditures 93,466,302 105,479,030 106,888,220 108,891,846 118,078,000 121,581,000 125,376,000 129,784,000
<br /> 134,715,000
<br />Change in UEFB(2) 1,774,670 507,000 1,531,000 584,000 632,000 735,000 822,000
<br />
<br />Total Expenditures plus Change in UEFB 93,466,302 105,479,030 108,662,890 109,398,846 119,609,000 122,165,000 126,008,000
<br /> 130,519,000 135,537,000
<br />Annual Operating Surplus/(Deficit) 8,034,736 (3,202,124) (4,575,730) 170,342 (6,705,000) (4,705,000) (4,674,000)
<br /> (4,564,000) (4,882,000)
<br />(3)
<br />Ending Fund Balance
<br />UEFB at June 30(4) 15,140,500 15,810,330 17,585,000 18,092,000 19,623,000 20,207,000 20,839,000 21,574,000
<br /> 22,396,000
<br />Reserves
<br />Reserve for Revenue Shortfall(5) 17,203,249 13,331,295 8,755,566 8,925,908 4,113,000 (592,000) (5,266,000)
<br /> (9,830,000) (14,712,000)
<br />Total Reserves 8,755,566 8,925,908 4,113,000 (592,000) (5,266,000) (9,830,000) (14,712,000)
<br />Total Ending Fund Balance(6) 26,340,566 27,017,908 23,736,000 19,615,000 15,573,000 11,744,000 7,684,000
<br />Total Requirements(7) 133,228,786 135,909,754 141,814,000 141,196,000 140,949,000 141,528,000 142,399,000
<br />Notes:
<br />
<br />(A)Library service expenditures, associated revenue, and ending balances of Library Levy Fund are transferred to the General Fund in FY08.
<br />(1)Non-Department Expenditures includes Contingency.
<br />(2)Increase necessary to keep Unappropriated Ending Fund Balance at Council adopted policy level of two months of operating expenditures, excluding reserves and contingency.
<br />(3)Annual Operating Surplus/Deficit equals Current Revenues less Total Expenditures including Change in UEFB.
<br />(4)Per Council policy UEFB equals two months operating expenses (total department & non-department expenditures).
<br />(5)Assumes any annual surpluses are set aside and used to fully or partially fund any future operating deficits.
<br />(6)Total ending fund balance equals UEFB plus total reserves.
<br />(7)Total requirements equals total expenditure plus UEFB plus total reserves.
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