REVENUE The following section provides a brief overview of consolidated revenues and expenditures by category with comparisons to the 2023 budget and year-end projections. CONSOLIDATED REVENUES Budget 2023 Projections 2023 Budget 2024 2024 vs. Proj Variance Budget Variance Tax Revenue $25,663,498 59% $25,753,823 56% $26,946,132 56% $1,192,309 5% $1,282,634 5% Replacement Taxes 736,900 2% 620,100 1% 550,700 1% (69,400) -11% (186,200) -25% Interest Income 769,900 2% 1,258,951 3% 1,243,200 3% (15,751) -1% 473,300 61% Charges for Services 11,490,808 26% 12,900,976 28% 13,799,070 29% 898,094 7% 2,308,262 20% Sales 1,336,595 3% 1,433,851 3% 1,580,361 3% 146,510 10% 243,766 18% Rental Income 689,742 2% 736,352 2% 753,460 2% 17,108 2% 63,718 9% Alternative Revenue 638,100 1% 950,384 2% 565,550 1% (384,834) -40% (72,550) -11% Miscellaneous 2,142,554 5% 2,369,405 5% 2,573,790 5% 204,385 9% 431,236 20% Other Financing 20,000 0% 72,125 0% 50,000 0% (22,125) -31% 30,000 150% Total Revenue before Transfers $43,488,097 100% $46,095,967 100% $48,062,263 100% 1,966,296 4% 4,574,166 11% Total Transfers $3,644,620 $4,332,142 $2,920,010 (1,412,132) -33% (724,610) -20% Total Revenue after Transfers $47,132,717 $50,428,109 $50,982,273 $554,164 -28% $3,849,556 -9%
The chart above presents total revenue for the 2024 budget year. Revenues before transfers are budgeted to increase about $4.6 million or 11.0% compared to the 2023 budget and increase $2.0 million or 4.0% compared to 2023 year-end estimates. An increase in revenues budget to budget is anticipated for all major categories except for replacement taxes (state shared revenues) and alternate revenues (grants). The District relies on two primary revenue sources to fund operations: property taxes and charges for services (program fees) fund 85% of the District’s entire budget. As expected, these two sources represent the largest increases for 2024. The increase in program fees is mainly based on increased participation in programs, facilities and events, and fee increases applied to specific programs to offset rising costs. The increase in property taxes is needed to fund the remaining costs to provide services and capital improvements. Based on the current economic environment, interest income is also anticipated to increase. Total transfers include a transfer from the General to Recreation Fund (to make the Recreation Fund net to zero) and additional surpluses from the General Fund and Golf operations to fund capital improvements.
CONSOLIDATED REVENUES 56% Tax Revenue
29% Charges for Services 5% Miscellaneous 3% Sales 3% Interest Income 2% Rental Income 1% Alternative Revenue 1% Replacement Tax
2024 BUDGET 18
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