FY 24 APPROVED OPERATING BUDGET

GENERAL FUND

FINANCIAL NOTES:

FY 23

FY 24

CHANGE EXPLANATION OF INCREASE/DECREASE - REVENUES

166,516,500 160,945,050 (5,571,450) OTHER REVENUES

of the FY 24 General Fund of the FY 23 General Fund

FY 24 Approved Budget

160,945,050

21.39 %

FY 23 Approved Budget

166,516,500

15.02 %

$ decrease % decrease

(5,571,450)

(3.35) %

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

Fund Balance Appropriated

FY 23

FY 24

Change

89,887,657 (15,815,568) 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 included $3,898,153 of dedicated fund balance for a 27th pay. For FY 24, fund balance appropriated is $74,072,089. 74,072,089

Recordation/Transfer Taxes

FY 23

FY 24

Change

31,700,000

26,500,000

(5,200,000)

FY 24 includes New Recordation and Transfer Tax estimated at $21,500,000 and $5,000,000 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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