TABLE OF CONTENTS INTRODUCTION -----------------------------------------------------------------------------------5 GFOA Budget Achievement Award 2019 --------------------------------------------------7 Readers Guide -----------------------------------------------------------------------------------8 City Officials ------------------------------------------------------------------------------- --- 11 Organizational Chart ------------------------------------------------------------------------ 12 Location & History of Desoto -----------------------------------------------------------------13 Community Profile---------------------------------------------------------------------------- 15 BUSINESS PLAN -------------------------------------------------------------------------------- 23 Vision Statement/Goals & Objectives/Business Plan --------------------------------- 25 BUDGET MESSAGE ----------------------------------------------------------------------------- 33 Transmittal Letter----------------------------------------------------------------------------- 35 BUDGET POLICIES------------------------------------------------------------------------------- 41 Calendar ---------------------------------------------------------------------------------------- 43 City Charter Requirements------------------------------------------------------------------ 44 Budget Policies -------------------------------------------------------------------------------- 47 Basis of Budgeting and Accounting ------------------------------------------------------- 49 Financial Policies ----------------------------------------------------------------------------- 50 Debt Management Policy ------------------------------------------------------------------- 54 FINANCIAL ANALYSIS -------------------------------------------------------------------------- 71 City of DeSoto Fund Structure Overview------------------------------------------------ 73 Fund Structure -----------------------------------------------------------------------------------75 Changes in Budgeted Positions ------------------------------------------------------------ 77 Adopted Budget Summary by Category ------------------------------------------------ -80 Explanation of Major Changes in Fund Balance --------------------------------------- 82 Combined Fund Statements---------------------------------------------------------------- 91 Revenue Summary by Major Type – All Funds ----------------------------------------- 95 Three Year Comparison of Major Revenues – All Funds --------------------------- 104 Expenditure Summary by Function ----------------------------------------------------- 105 Expenditure Summary by Fund---------------------------------------------------------- 106 5 Year Financial Forecast FY 2021-2025 -------------------------------------------------107 GENERAL FUND ------------------------------------------------------------------------------- 121 Budget Summary-General Fund 101-102 ----------------------------------- 123 Property Tax Rate History Chart ---------------------------------------------124 Sales Tax History Chart --------------------------------------------------------125 Revenues by Category ------------------------------------------------------------------127 Expenditures by Department Summary ----------------------------------------------- 131 Administration --------------------------------------------------------------------------- 133 Financial Services ------------------------------------------------------------------------ 153
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