Projected_Budget_Report

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 $ 100,000 3 % $ 103,000 The Village will keep the same millage rate as 2019 and believes the SUV will increase slightly. Other Taxes $ 2,600 - % $ 2,600 The figures are based on a normal winter State Revenue Sharing $ 36,400 4 % $ 37,856 Income Tax $ - - % $ - Fines & Fees $ 3,000 - % $ 3,000 Licenses & Permits $ 1,145 - % $ 1,145 Interest Income $ 60 - % $ 60 Grant Revenues $ 7,000 - % $ 7,000 Other Revenues $ 89,000 1 % $ 90,000 Interfund Transfers (In) $ - % $ - Total Revenues $ 239,205 $ 244,661 EXPENDITURES General Government $ 137,385 2 % $ 139,000 Budget shows a small increase in wages Police and Fire $ 5,580 - % $ 5,580 Other Public Safety $ - - % $ - Roads $ 10,000 - % $ 10,000 Other Public Works $ - - % $ - Health and Welfare $ 25,100 - % $ 25,100 Community & Economic Development $ - - % $ - Recreation & Culture $ 32,367 5 % $ 34,000 Capital Outlay $ 25,000 (68) % $ 8,000 The Community Square should be completed Debt Service $ 19,494 (8) % $ 18,000 Other Expenditures $ - - % $ - Interfund Transfers (Out) $ - - % $ - Total Expenditures $ 254,926 (7) $ 239,680 Net Revenues (Expenditures) $ (15,721) $ 4,981 Beginning Fund Balance $ 91,006 $ 75,285 Ending Fund Balance $ 75,285 $ 80,266 Ellsworth 2/28/2020 53040 General Fund Projected Budget Report Commentary: 1 Commentary: 2