CITY OF DESOTO, TEXAS EXPLANATION OF MAJOR CHANGES IN FUND BALANCE (Major Funds and Those with Fund Balance Changes of 10% or More) Beginning Fund Balance versus Projected Fund Balance - FY 202 GENERAL FUND
General Fund Fund 101
At the beginning of Fiscal Year (FY) 202 2 , the City of DeSoto has a General Fund (GF) fund balance (FB) of $ 24 , 152 , 877 . The General Fund will end the FY 202 2 year with a projected FB of $ 23 , 328 , 700 , a decrease of 3.4 % over th e year. This change in FB is mainly attribut able to the renovation of City Hall.
Stabilization Fund Fund 108
The Stabilization Fund was created in FY 2014, to address significant unanticipated expenditures that would otherwise negatively affect the General Fund. Expenditures from this fund are approved by the City Council. This fund will begin the FY 202 2 year with a fund balance of $2, 915 , 931 and is projected to end FY 202 2 with a fund balance of $2,9 24 , 931 . This represents an increase of 0. 3 % , due to interest earned by the Fund Balance . It will continue to carry a large FB as a multi-year savings plan for unbudgeted and/or unanticipated expen- , ditures in future year s .
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