FY25 GFOA Budget - Flipbook - Page 136
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CAPITAL FUNDS
BUILDING FUND
BUILDINGS FUND REVENUES
Fund Type
Beginning Fund Balance
$
FY 23
Budget
2,276,583
FY 23
Actual
$ 2,264,780
FY 24
Budget
$
(41,855)
FY24
Estimate
$
(47,738)
FY25
Budget
$ 329,524
%
Change
887%
Transfers-In
Sale of Fire Apparatus
Grants
TOTAL REVENUE
TOTAL FUNDS AVAILABLE
$ 1,393,000
$
$
$ 1,393,000
$ 3,669,583
$ 1,393,000
$
7,657
$
$ 1,400,657
$ 3,665,437
$
$
$
$
$
$
$
$
$
$
$ 470,000
$
$
$ 470,000
$ 799,524
0%
0%
0%
0%
87%
470,000
470,000
428,145
235,000
235,000
187,262
BUILDINGS FUND EXPENDITURES
FY 23
Budget
Item
FY 23
Actual
FY 24
Budget
FY24
Estimate
Station Improvements
$
3,515,000
$
3,674,696
$
-
$
Bond Payments
$
41,000
$
38,478
$
41,000
Training Tower
$
-
$
-
$
-
Security Enhancements
$
-
$
-
$
TOTAL EXPENDITURES
$ 3,556,000
$ 3,713,174
$
FY25
Budget
%
Change
-
$
175,000
100%
$
-
$
41,000
0%
$
13,000
$
-
0%
87,460
$
85,621
$
-
-100%
128,460
$
98,621
$ 216,000
68%
Budget Highlights:
•
•
•
•
The Building Fund is budgeted to begin FY25 with a fund balance of $329,524 and
$799,524 total funds available. This is a slight increase in the fund balance from
FY24 as the District begins rebuilding reserves from the Station 1 remodel. This also
explains the difference in cash on hand at the beginning of the year.
The only anticipated revenue in this fund is for a transfer to continue building
reserves, however the District will monitor grant funding opportunities to secure
additional revenue if possible.
Budgeted expenditures are expected to increase by 68% from the prior year due to
station 3 improvements ($175,000). Total expenditures in FY25 are budgeted to be
$216,000.
District bond payments, as shown above under “Buildings Fund Expenditures,” are
made to the Village of Bartlett. This is based on a 2007 intergovernmental
agreement constructed between the two entities in order to build the District’s
Station 3. The percent of debt service paid by the District is determined by the
overlapping equalized assessed values (EAVs) of both entities. Based on the
District’s bond schedule, the District anticipates making its final bond payment to
the Village in FY26. Additional information about debt service can be found on pages
80-81, or in the appendix of this document beginning on page 160.
P a g e 136 | BARTLETT FIRE PROTECTION DISTRICT | CAPITAL FUNDS
