FY 2026 Adopted Budget - Flipbook - Page 103
or dry cycles as well as the disruption of lawn maintenance routines caused by hurricanes and
vegetative debris accumulation. Total budgeted revenues for the utility are $15,573,000 (Water &
Wastewater Revenue, page 270). A 4% annual revenue growth assumption has been used for the
preparation of the budget.
Other Charges for Services:
General Fund
Revenues generated from Parks and Recreation activities are budgeted at $282,500 (General Fund
Revenue, page 126). These revenues are generated by the Parks and Recreation division based on
planned programs, classes, and events for the upcoming year. The revenue generated from the
Eustis Memorial Public Library is budgeted at $14,200 (General Fund Revenue, page 126).
Fines & Forfeitures:
General Fund
Various fines and forfeitures are conservatively budgeted at $285,000 (General Fund Revenue,
page126) and are based on historical trends. Court fines and code violations comprise most of the
fines levied. Conservative estimates are the best method for budgeting this revenue as the amount
collected from year to year fluctuates significantly and does not follow a defined trend.
Miscellaneous Revenues:
General Fund, Various Special Revenue Funds, and Water & Sewer Utility Revenue Fund
Interest earnings are conservatively budgeted within the applicable funds. Interest rates are
somewhat higher as the economy improves; however, this source will continue to be categorized as
a minor revenue with high volatility. The City has more recently begun investing in higher yield
investments as opposed to traditional bank investments. These investments adhere to the City’s
Investment Policy and allow the City to receive higher interest earnings. This budgeted revenue
is based on projected cash and investment balances and anticipated interest rates. Rents of space
on water towers from wireless communications companies for use of water towers as a cellular
phone tower transmission area are based on existing contract values. All General Fund
miscellaneous revenues are conservatively budgeted at $1,547,500 (General Fund Revenue, page
126).
Other Financing Sources:
General Fund, Various Special Revenue Funds, and Water & Sewer Utility Revenue Fund
There are other revenues in the budget that are not exchange-based transactions. These include
transactions such as interfund transfers and utilization of fund balance. Interfund transfers are
transfers from one fund to another to provide funding to offset costs incurred in another fund or, in
the case of the Water and Sewer Utility Revenue Fund, to pay the General Fund for a return on
investment and overhead costs. Appropriation of fund balance as a revenue reflects the increase or
decrease on the reliance of fund balance as a revenue source to balance revenues against
expenditures for a given year and ensure a balanced budget. The interfund transfer from the Water
& Sewer Utility Fund to the General Fund is budgeted at $2,600,000 (General Fund Revenue, page
126).
Expenditures
For FY 2025/26, the City budgeted a 5% salary COLA increase of $766,751 (Salary & Benefits
Increase/Decrease, page 9) in addition to a $1,000 flat pay increase of $256,400 (Salary & Benefits
Increase/Decrease, page 9) for all existing full-time employees. This equates to a total increase in
salary, FICA, and benefit costs of $1,946,990 (Salary & Benefits Increase/Decrease, page 9) Citywide. This is an investment in the City’s future to ensure the attraction and retention of quality
employees for years to come.
Public safety pensions are anticipated to increase modestly in FY 2025/26 by approximately
$316,013 or 11.5% in comparison with last year. Also, general liability, worker’s compensation, and
property insurance decreased by in the General Fund by $275,289 or 22% and decreased in the
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