FY 23 Approved Budget Book

GENERAL FUND

FINANCIAL NOTES:

FY 22

FY 23

CHANGE

EXPLANATION OF INCREASE/DECREASE - REVENUES

98,911,000 166,516,500

67,605,500

OTHER REVENUES

of the FY 23 General Fund of the FY 22 General Fund

FY 23 Approved Budget

166,516,500

22.13 %

FY 22 Approved Budget

98,911,000 67,605,500

15.02 %

$ increase % increase

68.35 %

The elements mainly responsible for the net change in "Other" revenues are:

Fund Balance Appropriated

FY 22

FY 23

Change

38,625,000 51,262,657 Excess unappropriated fund balance at the end of a fiscal year, above the 5% reserve designated for credit rating purposes, maintained by County policy, is appropriated into the next fiscal year's budget, and treated as one-time funding for that fiscal year. Fund balance appropriated in the FY 23 budget is $85,989,504 with an additional appropriation of $3,898,153 of dedicated fund balance for the 27th pay 89,887,657

Recordation/Transfer Taxes

FY 22

FY 23

Change

19,880,000

31,700,000

11,820,000

FY 23 includes New Recordation and Transfer Tax estimated at $14,400,000 and $7,300,000 of carryover from the prior year to the General Fund which initially goes into the County's Capital Revenue Fund. It is expensed from the Capital Budget as a general project called School Debt Service. This expense becomes an Operating General Fund Revenue and it is dedicated to pay School Debt Service. '

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