Projected_Budget_Report_11-2020

Local Unit Name: Local Unit Code: Current Fiscal Year End Date: Fund Name: REVENUES Current Year Budget Percentage Change Year 2 Budget Assumptions Property Taxes $ 102,000 8 % $ 110,000 The Village will keep the same millage rate as 2020 and believes the SUV will increase. Other Taxes $ 2,600 - % $ 2,600 The figures are based on a normal winter State Revenue Sharing $ 35,000 - % $ 35,000 Income Tax $ - - % $ - Fines & Fees $ 3,316 - % $ 3,316 Licenses & Permits $ 1,200 - % $ 1,200 Interest Income $ 45 9 % $ 50 Grant Revenues $ - - % $ - Other Revenues $ 102,370 - % $ 102,370 Interfund Transfers (In) $ - % $ - Total Revenues $ 246,531 $ 254,536 EXPENDITURES General Government $ 135,000 - % $ 135,000 Budget shows a small increase in wages. Police and Fire $ 9,500 2 % $ 11,000 Other Public Safety $ - - % $ - Roads $ 10,000 - % $ 10,000 Other Public Works $ - % $ - Health and Welfare $ 29,000 - % $ 29,000 Community & Economic Development $ 2,000 - % $ 2,000 Recreation & Culture $ 35,000 - % $ 35,000 Capital Outlay $ 20,500 (50) % $ 10,000 The Community Square will be completed Debt Service $ 18,000 - % $ 18,000 Other Expenditures $ - - % $ - Interfund Transfers (Out) $ - - % $ - Total Expenditures $ 259,000 $ 250,000 Net Revenues (Expenditures) $ (12,469) $ 4,536 Beginning Fund Balance $ 77,000 $ 64,531 Ending Fund Balance $ 64,531 $ 69,067 Ellsworth 2/28/2021 53040 Projected Budget Report Commentary: 1