City Council

SPECIAL JOINT MEETING OF THE CITY COUNCIL & FINANCE ADVISORY COMMITTEE AUGUST 21, 2023 6:00 P.M. – 8:00 P.M. DeKalb Public Library Yusunas Meeting Room 309 Oak Street DeKalb, Illinois 60115 A. CALL TO ORDER 1. City Council Committee of the Whole Call to Order and Roll Call. 2. Finance Advisory Committee Call to Order and Roll Call. B. APPROVAL OF AGENDA C. PUBLIC PARTICIPATION D. CONSIDERATIONS 1. Consideration of Key Assumptions for the Fiscal Year 2024 City Budget. E. ADJOURNMENT Notice of a Special Meeting of the City Council and Finance Advisory Committee for August 21, 2023, at 6:00 p.m., called pursuant to Chapter 2 “City Council”, Section 2.05 “Special Meetings”, of the Municipal Code of the City of DeKalb, Illinois. Assistive services, including hearing assistance devices, available upon request.  SPECIAL JOINT MEETING OF THE CITY COUNCIL & FINANCE ADVISORY COMMITTEE AUGUST 21, 2023 6:00 P.M. – 8:00 P.M. DeKalb Public Library Yusunas Meeting Room 309 Oak Street DeKalb, Illinois 60115 A. CALL TO ORDER 1. City Council Committee of the Whole Call to Order and Roll Call. 2. Finance Advisory Committee Call to Order and Roll Call. B. APPROVAL OF AGENDA C. PUBLIC PARTICIPATION D. CONSIDERATIONS 1. Consideration of Key Assumptions for the Fiscal Year 2024 City Budget. City Manager’s Summary: At this point in the City’s fiscal year (which runs with the calendar year), the City staff have sifted through the audited FY2022 year-end numbers and developed working year-end forecasts for FY2023 City revenues impacting spending by the City’s operating departments. Annually, this joint meeting is an opportunity to “look through the window” at the staff work to date. More detailed revenue and spending projections will be available at the mid-October Finance Advisory Committee (FAC) meeting. The focus of this August meeting is traditionally the City’s General Fund which comprises the operating departments whose services our local residents encounter more regularly than any other in a given fiscal year. Some attention will also be given to the general capital funds which support local infrastructure, City fleets, and redevelopment in the downtown core. I. General Fund Overview Projections regarding the City’s General Fund revenues in mid-August are largely speculative. Because a large portion of the general revenues are tied to state-shared revenues (e.g., the 1% state sales tax, local use tax, and state income tax) or local revenues collected by the state and later remitted to the City (e.g., home rule tax) after a typical 2-3 month interval, our City officials are looking at key income categories that reflect consumer spending in April and May of 2023. Additionally, the pricing of commodities and contractual services have been roiled by economic uncertainty for three of the past four years, and in the second quarter of 2023 even the most seasoned prognosticators had been whipsawed by Federal Reserve policies, bank failure hysteria, and continuing strong labor and equity markets. In this Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 2 of 14 environment, it behooves public sector managers to closely follow “interior” trends in locally generated revenues, and to resist the temptation to predict when uncertainty will ease. A. Major Fiscal Initiative: Building and Staffing a Fourth Fire Station. As the City staff wrestled with these concerns, the City Manager challenged the three largest departments with first-response duties – Fire, Police, and Public Works – to engage in longer-term planning for both staffing and facility needs. These three departments comprise 76% ($33,457,912/$43,789,570) of the general operating costs within the approved FY2023 City Budget. Although useful in any fiscal year planning, this exercise was also partially driven by the City’s dramatic economic development in the past three years and the likelihood of greater demands for public service as the economic and social impacts of these developments unfold. For several reasons, the preliminary outcome of this planning initiative focused upon the DeKalb Fire Department. First, of the three first responder departments, Fire has the greatest deficiencies in facilities in terms of accessibility, equity, and geographical coverage. Second, although the staffing upgrade of 2021-2022 funded by a $2.7 million federal (SAFER) grant through the Federal Emergency Management Agency (FEMA) helped the City meet federal requirements for shift strength on engines and ambulances and reduce annual overtime, it could not of itself influence response times from the existing stations. The National Fire protection Agency (NFPA) defines response time as the “time that begins when units are enroute to the emergency incident and ends when units arrive at the scene.” This does not include the time for the alarm, dispatch, and turnout prior to rolling an engine or ambulance. The NFPA gold standard for response times is 4 minutes. There is no silver standard, based on decades of technical study establishing life-saving parameters in both EMS and fireground incidents. On July 24, the City Manager presented a detailed report to the City Council on the Fire Department’s current “coverage” with the existing three Fire stations. This report was also shared with the FAC. The conclusions were as follows: 1. The southwest quadrant of the City comprising much of the Seventh Ward and large areas within the Fourth, Fifth and Sixth Wards including the new industrial developments south of I-88 routinely experience an average response time of approximately six minutes under the most favorable weather and traffic conditions. 2. Fire and EMS responses to the southwest quadrant are entirely provided by Fire personnel housed at Station 1 (N. Seventh Street), Station 2 (S. Seventh Street) and Station 3 (W. Dresser Road). Station 3 on DeKalb’s northwest side often covers the southwest City quadrant either with first-arriving or second-arriving units because of the relatively faster path of travel due south on Annie Glidden Road versus cross-town across two-lane streets with multiple intersections. 3. The response times from all stations also rise as a result of simultaneous calls, which are growing. Of the Department’s 7,437 calls of all types in 2022 (including rural Fire District calls), 2,744 (37%) “overlapped” with other calls requiring recall alerts to fill empty stations and to beef up staff responses already in progress. In 2018 simultaneous calls constituted 2,145 out of 6,082 total calls (35%). Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 3 of 14 4. A fourth station was identified by the Council as the most viable solution to the serious challenge of rising response times, particularly in the southwest quadrant of the City. It should be noted that a future fourth station was envisioned as a possibility in the 1990s when the City accepted a one-acre parcel dedication near the corner of W. Taylor Street and S. Annie Glidden Road as the Schnuck’s subdivision was approved. 5. The capital and staffing costs associated with a fourth station are affordable at this time. With respect to capital costs, debt service on the City’s outstanding General Obligation Bonds (Series 2010C, 2012A, 2013 B, 2019 and 2020) is currently paid out of the General Fund (as opposed to a debt service levy) but in four years the annual payments will decline by about as much as any new debt service on a proposed 15- year bond for construction of a fourth station. That debt service on an estimated $4,265,000 bond in 2023 will bring interest payments beginning in 2024 and principal repayment beginning in 2025. Additionally, all of the City’s current outstanding bond debt will be retired in 2030 and debt service for the fourth station would continue at a level no greater than the current debt service of about $1.865 million. With respect to staffing costs associated with a fourth station, the City’s GEMT (Ground Emergency Medical Transportation) Fund or Fund 130 can carry a significant share of the associated staffing and pension costs. GEMT funds constitute an annual federal reimbursement to fill the “gap” between what the City might receive in Medicaid funds for ambulance transports and the actual cost of the ambulance service. More information on the proposed debt service is displayed in the chart below. 15 Year Term Fiscal Yr. GF Debt Principal Interest Total D/S Aggregate D/S Diff vs. 2023 2023 $1,862,841* 2024 $1,862,841 $0 $106,625 $106,625 $1,969,466 $106,625 2025 $1,861,121 $195,000 $208,375 $403,375 $2,264,496 $401,655 2026 $1,863,782 $205,000 $198,375 $403,375 $2,267,157 $404,316 2027 $1,865,256 $215,000 $187,875 $402,875 $2,268,131 $405,290 2028 $1,458,244 $230,000 $176,750 $406,750 $1,864,994 $2,153 Total $8,911,244 $845,000 $878,000 $1,723,000 $10,634,244 Avg: $329,472 FY24-FY27 *Includes Series 2010C, 2012A, 2013B, 2019, and 2020 Bonds n.b.: City share of Library debt is paid from an interfund transfer 6. The Council agreed with the staff recommendation not to reach into the substantial General Fund surplus to fund the fourth station “out of pocket.” The City is currently earning 5% interest on its cash deposited in Illinois Funds managed by the Illinois State Treasurer. The average City balances are actually building the City’s reserves. In addition, the true interest cost of the new bonds would be about 3.80%. Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 4 of 14 The following table makes a global, multi-year, General Fund prediction based on available data and local fiscal trends, and assumes an FY2024 commitment to build and staff a fourth fire station: FY22 Actual FY2023 Rvsd FY24 Projected FY25 Projected FY26 Projected FY27 Projected Starting Fund Balance $19,625,868 $25,317,478 $ 29,968,209 $ 33,713,228 $ 34,466,835 $ 35,103,261 Revenues by Category Property Taxes $ 6,756,139 $ 7,119,130 $ 8,123,459 $ 8,959,817 $ 9,855,799 $ 10,751,781 Sales & Use Taxes $19,635,533 $20,126,421 $ 20,629,582 $ 21,145,321 $ 21,673,954 $ 22,215,803 Gross Receipts Taxes $ 3,304,467 $ 3,321,426 $ 3,454,283 $ 3,592,454 $ 3,736,153 $ 3,885,599 Intergovernmental CARES Act $ - $ - $ - $ - $ - $ - ARPA Grant $ 1,997,435 $ 1,837,285 $ 1,019,023 $ - $ - $ - SAFER Grant $ 771,938 $ 908,602 $ 961,089 $ - $ - $ - All Other (Inc. Income $ 8,056,908 $ 8,258,331 $ 8,588,664 $ 8,889,267 $ 9,200,392 $ 9,522,405 Tax) Licenses & Permits $ 1,044,722 $ 1,050,406 $ 1,060,866 $ 1,071,535 $ 1,082,418 $ 1,093,518 Service Charges $ 3,911,785 $ 4,303,274 $ 4,376,905 $ 4,451,900 $ 4,528,286 $ 4,606,089 Fines $ 448,960 $ 470,500 $ 482,170 $ 491,523 $ 501,064 $ 510,795 Other Income $ 568,659 $ 490,980 $ 494,987 $ 499,040 $ 503,142 $ 507,292 Transfers In $ 582,980 $ 553,947 $ 1,058,826 $ 1,313,826 $ 1,568,952 $ 1,574,206 Total Revenues $47,079,526 $48,440,302 $ 50,249,853 $ 50,414,685 $ 52,650,159 $ 54,667,488 Expenditures by Category Personnel $32,608,690 $36,019,483 $ 38,620,124 $ 41,371,968 $ 43,614,832 $ 46,018,494 Commodities $ 964,864 $ 1,005,719 $ 1,025,833 $ 1,046,350 $ 1,067,277 $ 1,088,623 Contractual Services $ 4,514,631 $ 4,182,119 $ 4,264,940 $ 4,349,417 $ 4,435,583 $ 4,523,473 Equipment $ 102,698 $ 162,650 $ 165,903 $ 169,221 $ 172,605 $ 176,058 Debt Service * $ 516,754 $ 469,599 $ 471,409 $ 470,748 $ 470,060 $ 469,088 Transfers Out # $ 2,680,280 $ 1,950,000 $ 1,956,625 $ 2,253,375 $ 2,253,375 $ 2,252,875 Total Expenditures $41,387,916 $43,789,570 $ 46,504,834 $ 49,661,079 $ 52,013,733 $ 54,528,610 Net Change $ 5,691,610 $ 4,650,732 $ 3,745,019 $ 753,607 $ 636,426 $ 138,878 Prior Period Adjustment $ - $ - $ - $ - $ - $ - Ending Fund Balance $25,317,478 $29,968,209 $ 33,713,228 $ 34,466,835 $ 35,103,261 $ 35,242,139 vs. Reserve Policy 25% 61.17% 68.44% 72.49% 69.40% 67.49% 64.63% * payment on Library bonds; previously reported under transfers # includes annual transfer to Debt Service Fund Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 5 of 14 II. General Fund Revenue Assumptions Although all General Fund revenue line items have been analyzed year-to-date, the principal assumptions may need to be updated as revenues continue to roll in through the remainder of 2023. The table below describes the major revenue sources, which comprise $33,099,876 or 65.87% of the total. General Fund “Major Revenues” FY2021 FY2022 FY2023 FY2023 FY2024 FY2024 % of Total Actual Actual Amended Projected Proposed Amt. Change* FY24 Rev. Type Property Taxes Fire Pension 3,520,454 3,672,401 3,869,713 3,869,713 4,415,632 545,919 8.79% Police Pension 2,912,595 3,083,738 3,249,417 3,249,417 3,707,827 458,410 7.38% Total 6,433,049 6,756,139 7,119,130 7,119,130 8,123,459 1,004,329 16.17% - Sales & Use Taxes - State Sales Tax 6,205,962 6,626,891 6,017,000 6,050,000 6,167,425 117,425 12.27% Home Rule Sales tax 7,675,584 8,592,479 7,282,000 7,350,000 7,464,050 114,050 14.85% - Gross Receipts Taxes - Munic. Utility Tax 2,528,658 2,463,148 2,535,000 2,570,000 2,636,400 66,400 5.25% - Intergovernmental - Federal--ARPA 1,511,017 1,997,435 1,837,285 1,837,285 1,019,023 (818,262) 2.03% SAFER - 851,566 908,602 908,602 961,089 52,487 1.91% State Income Tax 5,787,319 6,565,145 6,285,240 6,446,400 6,728,430 282,030 13.39% Total Major Revenues 30,141,589 33,852,803 31,984,257 32,281,417 33,099,876 818,459 65.87% Other Rev Sources 17,149,977 34.13% Total Gen Fnd Rev. 50,249,853 100.00% *Change From “FY2023 Projected” to “FY2024 Proposed” Comments: a) Police and Fire Property Tax Levies. In the last regular Legislative session, the Illinois Legislature agreed to establish a working group to consider bringing the assets of the Police and Fire downstate public safety pension funds to a 90% funding level by 2050 instead of 2040. This proposed re-amortization will have no impact on the City’s 2023 Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 6 of 14 levies for the two funds. The City will meet 100% of its pension obligations, as defined by the City’s actuarial consultant, but the annual 2023 levy will not cover the entirety of that obligation. The remainder will be paid from other General Fund revenues as indicated in the table below: Actuarial Fiscal Required City's Adopted Shortfall Shortfall Year Contribution Tax Levy $ % Fire Pension $4,415,632 $3,720,878 $694,754 15.73% 2022 Police Pension $3,707,827 $3,124,439 $583,388 15.73% Total $8,123,459 $6,845,317 $1,278,142 15.73% increase over PY 2.87% 4.95% Fire Pension $4,933,015 $3,869,713 $1,063,302 21.55% 2023 Police Pension $3,901,382 $3,249,417 $651,965 16.71% Total $8,834,397 $7,119,130 $1,715,267 19.42% increase over PY 8.75% 4.00% Fire Pension $5,343,974 $4,415,632 $928,342 17.37% 2024 Police Pension $4,130,481 $3,707,827 $422,654 10.23% Total $9,474,455 $8,123,459 $1,350,996 13.80% increase over PY 7.25% 14.11% In short, the City still has a substantial long-term structural problem in its unfunded state pension obligations. As of January 1, 2023, the total unfunded liabilities for the Fire and Police pension funds were $55,991,016 and $42,513,249, respectively. Otherwise put, the Fire Pension Fund as of January 1, 2023, was 41% funded and the Police Pension Fund was 53.6% funded. The ultimate resolution of the downstate pension crisis is possibly 3-5 years away and will require the State Legislature’s shift to an “open amortization” model. In the near term, the City has been able to find some relief owing to the extraordinary EAV increases attending the continuing industrial development south of I-88. The evidence is found in the difference between the required pension contributions established each year by the City’s actuary and the actual City debt levies (the yellow-highlighted “shortfall” in the table above). In FY2024, for the first time in many years, a smaller “shortfall” can be achieved. This is the singular result of being able to levy for a higher proportion of the entire City obligation ($8,123,459 or 85.7% in 2024 vs 80.6% in 2023) while reducing the City’s tax rate. Although the annual, in-depth levy discussion is several months away, working assumptions are needed at this early date because of the importance of property tax as a general revenue for the City. The City’s emphasis on local property tax reduction, most recently spearheaded by Mayor Barnes, has informed the proposed levies highlighted in the list of major General Fund revenues herein. The City has provided leadership since 2018 when the Council realized the community was at an economic crossroad: if unaddressed the property tax burden on local businesses, homeowners, and renters alike would put DeKalb in a non-competitive economic position. In the spring of 2022, when the most recent City financial plan was prepared, DeKalb’s aggregate tax rate was nearly 20% higher than the aggregate rates of the City’s nearest geographical competitors, which Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 7 of 14 averaged about $9.0009 per $100 EAV. The City’s aggregate tax rate in 2019 was $11.73467 per $100 EAV. In 2020, the aggregate rate was 11.49927. The 2021 and 2022 aggregate rates are portrayed in the following table, as well as achievable aggregate rate goals shown for 2023 through 2025: Taxing Body 2021 Rate 2022 Rate % Diff. 2023 2024 2025 Actual Actual -5.00% -4.00% -3.00% County (blended) 1.03149 0.96761 -6.19% 0.91923 0.88246 0.85599 Forest Preserve (blended) 0.07355 0.06915 -5.98% 0.06569 0.06306 0.06117 DeKalb Township 0.14864 0.14107 -5.09% 0.13402 0.12866 0.12480 DeKalb Road & Bridge 0.17298 0.17052 -1.42% 0.16199 0.15551 0.15085 City of DeKalb 0.00000 0.00000 0.00% 0.00000 0.00000 0.00000 DeKalb Pension Funds 0.98612 0.89599 -9.14% 0.85119 0.81714 0.79263 DeKalb Library 0.38546 0.37454 -2.83% 0.35581 0.34158 0.33133 DeKalb Park District (blended) 0.69631 0.67796 -2.64% 0.64406 0.61830 0.59975 School District 428 (blended) 6.80841 6.09342 -10.50% 5.78875 5.55720 5.39048 Kishwaukee College 0.64100 0.60874 -5.03% 0.57830 0.55517 0.53852 KWRD 0.11998 0.10937 -8.84% 0.10390 0.09975 0.09675 11.06394 10.10837 -8.64% 9.60295 9.21883 8.94227 The achievement of such rate reduction is leveraged by the very significant EAV growth along the Gurler Road corridor between S. Route 23 and Peace Road. A very provisional look at key properties driving DeKalb’s potential EAV growth in 2023 (for taxes payable in 2024) is shown in the table below: 2023 Type 2022 Valuation Land Building W/Multiplier New Const.* Abatement Total (Abated) Taxable Industrial Afton Twp. Meta $39,444,591 $5,867,066 $189,090,333 $197,881,760 $157,506,875 $86,628,781 $111,252,979 55% Industrial DeKalb Twp. Ferrara Dist. Ctr. $11,457,670 $1,321,077 $20,273,187 $23,652,197 $0 $11,102,611 $12,549,586 50% Ferrara Pack Ctr. $5,257,910 $618,279 $9,279,262 $10,840,777 $0 $5,081,788 $5,758,989 50% Wehrli $3,557,026 $209,336 $3,526,275 $4,091,615 $195,604 $3,682,453 $604,765 90% Amazon $4,677,124 $994,130 $16,380,491 $19,030,422 $12,878,593 0 $19,030,422 0% Subtotal: Key Industrial $64,394,321 $255,496,771 $170,581,072 $106,495,633 $149,196,742 Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 8 of 14 The remaining components of DeKalb’s EAV estimate for 2023 are depicted below: 2023 2022 Land Building w/Multiplier New Const. Abatement Total Taxable All Other Industrial $76,975,478 $76,975,478 $84,311,241 $84,311,241 Total Industrial $141,369,799 $233,507,983 $233,507,983 Total Commercial $233,757,721 $233,757,721 $256,034,832 Total Residential $415,095,442 $415,09542 $454,654,038 Total Farm $1,404,643 $1,404,643 $1,538,505 Total Railroad $2,934,325 $2,934,325 $3,213,966 Total: $794,561,930 $948,949,324 The Afton Township equalization factor or “multiplier” is estimated at 1.5%; the DeKalb Township equalization factor is estimated at 9.53% for 2023. To resist any exaggeration in the numbers, the only new construction in the foregoing charts is connected with Meta, Ferrara, Amazon, and Wehrli alone. DeKalb’s estimated 2023 EAV of $948,949,324 is over $400 million (73%) higher than DeKalb’s rate-setting EAV of $547,947,687 in 2018. b) State Sales Tax and Home Rule Sales Tax. As the recent FY2022 Audit reported, Sales and Use tax revenues were significantly understated in the FY2022 Budget, which led to a corresponding rise in the City’s fund balance at the end of FY2022. The understatement was an outcome of an abundance of caution during the budget preparation in the fall of 2021. Overall General Fund revenue and other financing sources in FY2022 exceeded the amended budgeted amount by $2,939,912 (6.7%). Additionally, overall FY2022 General Fund expenditures and other financing uses came in under the amended FY2022 budget by $545,498 (or 1.3%). The net increase in fund balance was $5,691,610 after all year-end adjustments and transfers were made. For the proposed FY2024 Budget, year-on-year and month-on-month reviews comparing FY2023 and FY2022 actual numbers were conducted over the past month with Susan Hauman, Director of Financial Services. FY2024 state sales tax revenue is expected to increase by $117,425 or 1.9% over projected year-end FY2023 revenue, and home rule sales tax revenue is expected to increase by $114,050 or 1.6% over projected year-end FY2023 taxes. c) Municipal Utility Tax. This category includes electric (ComEd) and gas (Nicor) tax receipts. The tax is based on kilowatt hours (electric) and therms (gas). The estimated 2024 revenues were based on the monthly averages for the past 5 years. This estimate should be conservative: the recently energized Meta spaces should generate a notable increase in electric usage even with the 50% discount that was part of the Meta incentive package. Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 9 of 14 d) American Rescue Plan Act (ARPA) grant revenue continues to offset the cost of re- hiring previously frozen positions in the General Fund. ARPA monies have also been spent through the ARPA Fund (Fund 110) for the Hunter Hillcrest purchase, tenant relocation and demolition, lead service line replacement at scattered sites in DeKalb, and AGN street re-surfacing. Within the General Fund, twenty-one (21) fire, police, and public works employees' salaries and benefits are being funded by this grant. The ARPA funding will be exhausted at the end of FY2024. e) State income tax is allocated on a per capita basis by the State of Illinois. The population used since 2022 is 40,290. The Illinois Municipal League's per capita estimate of $167.00 was used to formulate the 2024 projected amount. Current data suggests flat growth in individual incomes, but the Illinois Legislature has approved about a 5% increase in municipal distributions from the Local Government Distributive Fund, which was effective August 1, 2023. This will increase the LGDF distribution rate from 6.16% to 6.47% of the LGDF. The City of DeKalb and the other 1,295 municipalities in Illinois are united in seeking the restoration of the 10% rate that prevailed for decades until the housing crisis of 2008. III. General Fund Expenditure Assumptions A. Personnel. The proposed FY2024 General Fund Budget includes 12 new full-time hires: a) Nine new firefighter/paramedics to be hired after July 1, 2024, to staff a fourth fire station. To staff a fourth fire station while meeting NFPA staffing standards, a minimum of four firefighter/paramedics and an officer would typically be required on any given shift day, which would mean an additional fifteen (15) firefighters. A transitional alternative to fiscally “grow into” the NFPA standard would involve a “jump company” with a shift strength of three, requiring an overall increase of nine (9) new firefighter hires upfront, raising the daily Department minimum staffing to 19. A “jump company” would be equipped with a front-line ambulance and engine as are the other City stations. However, with any alarm to the fourth station, a calculated judgment must be made about whether the call requires an engine or an ambulance. Once that choice is made, the smaller engine company of three will clear the station with either the ambulance or engine and leave the station empty of the number of firefighter/paramedics needed to address a follow-on or simultaneous call in that particular fire district. This is currently the case for Stations 2 and 3 which roll an ambulance and engine, but they have more hands on the apparatus to address unexpected circumstances that may arise at an emergency incident as first responding company. Such a transitional arrangement is negotiable with IAFF Local 1236 as it impacts essential working conditions. Local 1236 has been consulted in this matter and is willing to proceed with the “jump company” concept in the good faith that the duration of the transition to a five-member complement will be resolved when the Fire contract is re-opened prior to its expiration in 2024. The GEMT fund (Fund 130) will show a major commitment to the ongoing staffing costs associated with the new fire station. A five-year projection of the GEMT budget through FY2027 was presented to the Council on July 24 and is reproduced here: Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 10 of 14 FY2022 FY2023 FY2023 FY2024 FY2025 FY2026 FY2027 Actual Budget Estimate Proposed Proposed Proposed Proposed Balance Forward $325,748 $1,725,485 $1,725,485 $1,536,126 $512,376 $1,149,907 $1,876,777 Revenues GEMT Revenues $1,672,186 $1,350,000 $1,650,000 $1,691,250 $1,733,531 $1,776,870 $1,821,291 Interest $31,693 $6,180 $75,000 $65,000 $30,000 $25,000 $25,000 Trsf from General Fund $800,000 $0 $0 $0 $0 $0 $0 Grants $0 $251,009 $250,000 $50,000 $75,000 $75,000 $75,000 Trsf from Fund 420 $0 $0 $0 $0 $0 $0 $0 Total Revenues $2,503,879 $1,607,189 $1,975,000 $1,806,250 $1,838,531 $1,876,870 $1,921,291 Expenditures Commodities Supplies--Technology $6,533 $10,000 $0 $0 $0 $0 $0 Ambulance Supplies/Equipment $0 $130,000 $93,362 $50,000 $50,000 $50,000 $50,000 Commodities Subtotal $6,533 $140,000 $93,362 $50,000 $50,000 $50,000 $50,000 Contractual Maintenance--Vehicles $0 $25,000 $20,000 $0 $0 $0 $0 Maintenance--Equipment (Gear) $40,366 $40,000 $40,000 $40,000 $40,000 $0 $40,000 Arch/Engin. Services $0 $50,000 $200,000 $50,000 $0 $0 $0 Training/Travel incl. "live burns" $0 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 Contractual Subtotal $40,366 $215,000 $360,000 $190,000 $140,000 $100,000 $140,000 Capital Land Acquisition $0 $100,000 $0 $0 $0 $0 $0 Buildings $0 $0 $0 $0 $0 $0 $0 Equipment Cots $339,900 $0 $0 $0 $0 $0 $0 SCBAs/Compressor $0 $465,700 $465,000 $0 $75,000 $0 $50,000 Lucas Tools $0 $72,000 $71,566 $0 $0 $0 $0 Radios $0 $60,000 $112,500 $0 $35,000 $0 $0 AEDs $0 $8,000 $0 $0 $16,000 $0 $0 Station Alert System $0 $285,000 $285,000 $0 $40,000 $0 $0 E-Force Extrication Equipment $0 $36,607 $36,680 $0 $20,000 $0 $0 Capital Subtotal $339,900 $1,027,307 $970,746 $0 $186,000 $0 $50,000 Vehicles Engine #3 plus Upfitting $717,343 $0 $0 $0 $0 $0 $0 Engine #2 plus Upfitting $0 $635,236 $635,236 $0 $0 $0 $0 Existing Engine #1 (Station 4) Upfitting $0 $0 $0 $0 $75,000 $0 $0 Ambulance #1 $0 $0 $0 $215,000 $0 $0 $0 Ambulance #2 $0 $0 $0 $215,000 $0 $0 $0 Staff Vehicle #1 $0 $55,000 $50,015 $0 $0 $0 $0 Staff Vehicle #2 $0 $55,000 $55,000 $0 $0 $0 $0 Staff Vehicle #3 $0 $0 $0 $60,000 $0 $0 $0 Truck $0 $0 $0 $1,600,000 $0 $0 $0 Subtotal $717,343 $745,236 $740,251 $2,090,000 $75,000 $0 $0 Transfer to General Fund $0 $0 $0 $500,000 $750,000 $1,000,000 $1,000,000 Transfer to Debt Service Fund $0 $0 $0 $0 $0 $0 $0 Total Expenditures $1,104,142 $2,127,543 $2,164,359 $2,830,000 $1,201,000 $1,150,000 $1,240,000 Rev Minus Exp $1,399,737 -$520,354 -$189,359 -$1,023,750 $637,531 $726,870 $681,291 Ending Balance $1,725,485 $1,205,131 $1,536,126 $512,376 $1,149,907 $1,876,777 $2,558,068 For Station 4 Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 11 of 14 The comparative funding shares for the staffing costs associated with the fourth fire station are shown in the chart below: Fourth Fire Station Staffing - General Fund Cost 2024* 2025** 2026** 2027** 2028** Personnel $657,500 $1,347,875 $1,381,572 $1,416,111 $1,451,514 Debt Service $106,625 $403,375 $403,375 $402,875 $406,750 Less GEMT $500,000 $750,000 $1,000,000 $1,000,000 $1,000,000 Total GF $264,125 $1,001,250 $784,947 $818,986 $858,264 *One-Half Year **2.5% COLA b) Three new Police officers to bring the total number of sworn officers to 75. Between now and January 1, 2024, the City will fill eight vacancies – possibly with several lateral hires, bringing the number of sworn officers to 72. In FY2024, one officer will be hired in January and two officers will be hired after July 1, 2024. One promotion to Sergeant and one promotion to Commander will also occur early in 2024. B. Debt Service. If the City was to issue a 15-year, $4.265 million general obligation bond in 2023 with interest payments beginning in 2024 and principal repayment beginning in 2025, the City’s aggregate General Fund-supported debt service would be approximately equivalent to the present annual G.O. debt service level from 2028 onward (~$1,865,000). Hypothetical Debt Service for GO Bond 2024--Fire Facility Upgrade 15 Year Term Fiscal General Fund Assumed Assumed Assumed Total Debt Aggregate Year Debt Service* Principal Rate Yield Interest Service Debt Service 1-Jan 1/1 & 7/1 2024 $1,862,841 $0 $106,625 $106,625 $1,969,466 2025 $1,861,121 $195,000 5.00% 3.46% $208,375 $403,375 $2,264,496 2026 $1,863,782 $205,000 5.00% 3.39% $198,375 $403,375 $2,267,157 2027 $1,865,256 $215,000 5.00% 3.35% $187,875 $402,875 $2,268,131 2028 $1,458,244 $230,000 5.00% 3.32% $176,750 $406,750 $1,864,994 2029 $1,457,211 $240,000 5.00% 3.38% $165,000 $405,000 $1,862,211 2030 $1,458,000 $250,000 5.00% 3.41% $152,750 $402,750 $1,860,750 2031 $265,000 5.00% 3.37% $139,875 $404,875 $404,875 2032 $280,000 5.00% 3.39% $126,250 $406,250 $406,250 2034 $290,000 5.00% 3.41% $112,000 $402,000 $402,000 2035 $305,000 5.00% 3.48% $97,125 $402,125 $402,125 2036 $325,000 5.00% 3.59% $81,375 $406,375 $406,375 2037 $340,000 5.00% 3.71% $64,750 $404,750 $404,750 2038 $355,000 5.00% 3.87% $47,375 $402,375 $402,375 2039 $375,000 5.00% 4.02% $29,125 $404,125 $404,125 2040 $395,000 5.00% 4.12% $9,875 $404,875 $404,875 2041 2042 2043 2044 2045 Total $11,826,455 $4,265,000 $1,903,500 $6,168,500 $17,994,955 *Includes Series 2010C, 2012A, 2013B, 2019, and 2020 Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 12 of 14 IV. Capital Funds A. Motor Fuel Tax Fund (Fund 210). The City receives a per capita allocation of Illinois Motor Fuel Tax (MFT) revenues on a monthly basis from a State tax on gasoline purchases. These funds can only be used for certain costs related to street maintenance and improvement projects, as set forth by the State of Illinois. The annual MFT allotment to the City in FY2024 is projected to be flat at $1,700,000. According to the Illinois Municipal League, gas prices lingering around $3.85 per gallon across Illinois have not depressed the number of gallons pumped, which is the basis for the MFT calculation. Several years ago, the REBUILD Illinois capital bill issued bonds and local municipalities have received allocations from that bond revenue. DeKalb received REBUILD support for its bridge replacement work at Lucinda Avenue and N. First Street and will expend the balance of those funds in the first half of FY2024. About $618,000 of the FY2024 state MFT allocation will be used to defray the City’s electrical charges for streetlights ($333,000) and road salt purchases ($285,000) which have levelled since the annualized inflation rate peaked in June of 2022. At that time, the yearly inflation rate was about 9.1%; it is currently about 6%. An additional allocation for street supplies and commodities ($133,000) can be considered part of the annual street maintenance work. FY2023 was the State MFT-designated year for annual street maintenance which is alternated with the City’s Capital Projects Fund (Fund 400). The relatively higher balance in Fund 210 will support the largest portion of the street maintenance program again in 2024, including about $1,650,000 million in street-related projects and engineering costs. Fund 400 can contribute $650,000 for street and alley resurfacing and related engineering costs. Overall, the street maintenance budget in 2024 will match the ambitious work completed in 2023. Among the scattered street sections scheduled for re-surfacing or repair in 2024 are the road surface under the Annie Glidden Road railroad trestle, Fairview Drive, the Heritage Ridge streets, Sunnymeade Trail, Fox Hollow, and Garden Road. The actual scope of the street maintenance program is always subject to bid prices and budget parameters. B. Capital Projects Fund (Fund 400). The local motor fuel tax rate of 9.5 cents per gallon is split between road expenditures (7 cents), airport expenditures (1.5 cents), and vehicle replacement (1 cent). Proceeds from the local tax on motor fuel can be used for any public capital improvement. As noted above, in FY2024 a total of $935,000 is projected in local motor fuel tax revenue. The year-end FY2022 local fuel tax revenue was $930,053. Aside from the funds allocated for street and alley maintenance and engineering in FY2024 ($650,000), the fund will also support the purchase of IT equipment such as PC replacements, network infrastructure upgrades, and public safety cameras ($65,000), miscellaneous building improvements ($20,000), the non-TIF architectural improvement program started in 2023 ($70,000), and the annual Barb City Manor allocation ($50,000). C. Capital Equipment Replacement Fund (Fund 420). The City’s GEMT Fund has supported Fire department vehicle and equipment needs for several years and will continue to do so. The Police and Public Works departments rely upon the once cent per gallon local fuel tax which will raise an estimated $120,000 in 2024. Another source of Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 13 of 14 annual revenue in Fund 420 consists of lease payments from telecommunication companies with antennae on the City’s water towers (“Rental Income”) and sales of surplus property (such as old vehicles put out of service or land sales). In FY2023, payments from the DeKalb County E-911 board totaling several hundred thousand dollars were shifted under new auditing rules to the General Fund because of their personnel content, reducing the recurrent funding sources. A new dedicated funding source – cannabis tax payments – has not yet been realized but is expected to begin accruing in FY2024. In FY2024, the following vehicle expenses are planned:  Police: $260,000 (4 squad replacements)  Public Works: $401,840  Used 2017 Mack Single Axle Dump with Wing Plow from DeKalb Township ($150,000)  Utility Tractor ($75,000)  Two F250 4x4 Pickups with plow packages ($126,210)  One F250 4x4 Pickup without Plow ($50,630)  Building: $42,500 (inspection vehicle)  Crime-Free: $42,500 sedan D. Central Business District Tax Increment Finance Fund (Fund 262). Since the Central Area TIF (TIF #1) expired on December 31, 2021, TIF #3 has constituted the City’s TIF program. The geographical area is very modest: extending approximately two blocks either side of Lincoln Highway from the NIU lagoon eastward to Seventh Street. The annual TIF income is about $520,000 instead of the approximately $7 million under TIF #1. Nevertheless, by combining the residual balance in TIF #1 upon its closure with accruing revenue in TIF #3, the City was able to accomplish the IL Rt. 38 reconfiguration last year and incentivized the redevelopment of the former City Hall site on S. Fourth Street (City Hall Suites). Additionally, TIF #3 has financed a number of “architectural improvement” projects in the downtown area over the past few years. The proposed FY2024 TIF #3 budget will pay out a “surplus distribution” to the other local taxing bodies representing 30% of the property taxes received according to the intergovernmental agreement that was fully executed in January 2021. The proposed budget also funds $100,000 in “AIP” (Architectural Improvement Program) projects as in FY2023 and potentially another $138,000 in private property rehab work at 151 N. Fourth Street (262-00-00-69199). Line item 262-00-00-83900 sets aside $290,000 for expenditures related to other potential downtown redevelopment. V. Remaining FY2024 Budget Schedule In recent years, the Council has followed a very transparent review process for the creation of the following year’s fiscal budget. Keeping with that successful format, the following schedule is proposed for development of the City’s municipal budget for 2024 after the joint meeting on August 21: Assistive services, including hearing assistance devices, available upon request. Special Joint Meeting City Council Committee of the Whole & Finance Advisory Committee August 21, 2023 Page 14 of 14  August 22 through October 12 – Intense department-level budget discussions around spending targets based on general goals established on August 21.  Thursday, October 12 – Publication of an agenda for an FAC meeting on October 16.  Monday, October 16 – FAC meeting to review proposed, detailed FY2024 Budget highlights, including annual levy assumptions, 6:00 p.m. to 8:30 p.m.  Monday, October 23 – Council consideration of property tax levy options.  Monday, November 13 – Presentation of a Council resolution establishing a Truth in Taxation Hearing for November 27.  Monday, November 20 and Wednesday, November 22 (if needed) – Back-to-back special Council meetings in joint session with the FAC to go over the proposed FY2024 budget document. The General Fund departments, Capital Funds, Enterprise Funds, and Special Funds will be the focus.  Monday, November 27 – Truth in Taxation Hearing and FY2024 Budget Hearing. First reading on Proposed FY2024 City Budget.  Monday, December 11 – Second reading on Proposed FY2024 City Budget.  December 28 – Last day to file the approved FY2024 Annual Budget and Property Tax Levy with the DeKalb County Clerk. E. ADJOURNMENT Notice of a Special Meeting of the City Council and Finance Advisory Committee for August 21, 2023, at 6:00 p.m., called pursuant to Chapter 2 “City Council”, Section 2.05 “Special Meetings”, of the Municipal Code of the City of DeKalb, Illinois. Assistive services, including hearing assistance devices, available upon request.  2021 2022 2023 2023 2024 ACTIVITY ACTIVITY AMENDED PROJECTED BUDGET GL NUMBER DESCRIPTION BUDGET Fund 210 - MOTOR FUEL TAX FUND ESTIMATED REVENUES INTERGOVERNMENTAL REVENUES 210-00-00-33200 STATE GRANTS 967,250 967,250 0 0 0 210-00-00-33550 MOTOR FUEL TAX ALLOTMENT 1,792,150 1,719,112 1,700,000 1,700,000 1,700,000 INTERGOVERNMENTAL REVENUES 2,759,400 2,686,362 1,700,000 1,700,000 1,700,000 OTHER INCOME 210-00-00-37100 INVESTMENT INTEREST 1,960 72,288 12,000 110,000 65,000 210-00-00-38100 MISCELLANEOUS REVENUE 0 0 0 0 0 210-00-00-38200 REFUNDS / REIMBURSEMENTS 0 0 1,090,000 1,540,000 0 OTHER INCOME 1,960 72,288 1,102,000 1,650,000 65,000 TOTAL ESTIMATED REVENUES 2,761,360 2,758,650 2,802,000 3,350,000 1,765,000 EXPENDITURES COMMODITIES 210-00-00-51410 SUPPLIES/PARTS-STREETS 99,214 100,050 133,000 150,000 133,000 210-00-00-53100 ICE/SNOW CONTROL SUPPLIES 192,955 248,816 283,000 275,000 285,000 COMMODITIES 292,169 348,866 416,000 425,000 418,000 CONTRACTUAL SERVICES 210-00-00-62300 ARCHITECT/ENGINEERING SERVICES 595,135 633,889 650,000 1,100,000 250,000 210-00-00-64100 ELECTRIC SERVICES 314,578 323,183 333,000 310,000 333,000 CONTRACTUAL SERVICES 909,713 957,072 983,000 1,410,000 583,000 EQUIPMENT 210-00-00-81000 LAND ACQUISITION (65) 0 0 0 0 210-00-00-83000 STREET IMPROVEMENTS 487,143 228,950 1,000,000 1,000,000 400,000 210-00-00-83050 STREET MAINTENANCE 1,061,510 1,000,000 2,675,000 2,500,000 1,000,000 210-00-00-83800 BONDED CAPITAL PROJECTS 0 0 1,050,000 550,000 500,000 210-00-00-83900 OTHER CAPITAL IMPROVEMENTS 0 0 75,000 0 50,000 EQUIPMENT 1,548,588 1,228,950 4,800,000 4,050,000 1,950,000 TOTAL EXPENDITURES 2,750,470 2,534,888 6,199,000 5,885,000 2,951,000 NET OF REVENUES/APPROPRIATIONS - FUND 210 10,890 223,762 (3,397,000) (2,535,000) (1,186,000) BEGINNING FUND BALANCE 4,085,226 4,096,116 4,319,878 4,319,878 1,784,878 FUND BALANCE ADJUSTMENTS ENDING FUND BALANCE 4,096,116 4,319,878 922,878 1,784,878 598,878  2021 2022 2023 2023 2024 ACTIVITY ACTIVITY AMENDED PROJECTED BUDGET GL NUMBER DESCRIPTION BUDGET Fund 400 - CAPITAL PROJECTS FUND ESTIMATED REVENUES SALES & USE TAXES 400-00-00-31600 HOME RULE MOTOR FUEL TAX 947,167 930,053 892,000 892,000 935,000 SALES & USE TAXES 947,167 930,053 892,000 892,000 935,000 INTERGOVERNMENTAL REVENUES 400-00-00-33200 STATE GRANTS 1,935,389 1,362,739 0 0 400-00-00-33300 LOCAL GRANTS 0 10,000 50,000 50,000 10,000 INTERGOVERNMENTAL REVENUES 1,935,389 1,372,739 50,000 50,000 10,000 OTHER INCOME 400-00-00-37100 INVESTMENT INTEREST 0 7,200 5,000 5,000 5,000 400-00-00-38100 MISCELLANEOUS REVENUE 142,500 0 0 0 0 400-00-00-38200 REFUNDS / REIMBURSEMENTS 0 1,158,107 0 0 0 400-00-00-38600 SALES OF SURPLUS PROPERTY 0 0 0 0 0 400-00-00-38825 LOAN PROCEEDS 0 129,033 0 0 0 OTHER INCOME 142,500 1,294,340 5,000 5,000 5,000 TRANSFERS IN 400-00-00-39100 TRANSFER FROM GENERAL FUND 22,500 0 0 0 0 TRANSFERS IN 22,500 0 0 0 0 TOTAL ESTIMATED REVENUES 3,047,556 3,597,132 947,000 947,000 950,000 EXPENDITURES COMMODITIES 400-00-00-51600 SUPPLIES/PARTS-TECHNOLOGY 22,000 22,000 0 0 5,000 COMMODITIES 22,000 22,000 0 0 5,000 CONTRACTUAL SERVICES 400-00-00-61300 MAINTENANCE-BUILDINGS 82,311 116,667 75,000 75,000 75,000 400-00-00-61450 MAINTENANCE-SIDEWALKS 0 11,548 25,000 25,000 25,000 400-00-00-62300 ARCHITECT/ENGINEERING SERVICES 246,374 320,161 50,000 50,000 50,000 400-00-00-63800 CONTRACTED SERVICES 43,200 16,354 50,000 50,000 50,000 400-00-00-65400 TAXES, LICENSES, & FEES 11,621 0 0 0 400-00-00-69199 PRIV PROP REHAB / REDEVELOP 0 0 70,000 70,000 70,000 400-00-00-69700 SPECIAL PROJECTS 0 10,000 58,000 58,000 60,000 CONTRACTUAL SERVICES 383,506 474,730 328,000 328,000 330,000 DEBT SERVICES 400-00-00-79000 CAPITAL LEASE PRINCIPAL 0 29,211 22,613 22,613 25,000 400-00-00-79100 CAPITAL LEASE INTEREST 0 0 6,598 6,598 6,300 DEBT SERVICES 0 29,211 29,211 29,211 31,300 EQUIPMENT 400-00-00-81000 LAND ACQUSITION 0 0 0 0 0 400-00-00-82000 BUILDINGS & IMPROVEMENTS 18,550 443,731 0 0 20,000 400-00-00-83000 STREET IMPROVEMENTS 1,235,661 1,792,718 200,000 25,000 25,000 400-00-00-83050 STREET MAINTENANCE 321,572 1,147,747 0 0 500,000 400-00-00-83100 ALLEY IMPROVEMENTS 18,574 150,000 0 0 100,000 400-00-00-83200 STORM SEWER IMPROVEMENTS 2,060 4,800 60,000 60,000 35,000 400-00-00-83900 OTHER CAPITAL IMPROVEMENTS 23,854 0 50,000 10,000 10,000 400-00-00-86000 EQUIPMENT 0 129,033 0 0 15,000 400-00-00-86100 TECHNOLOGY EQUIPMENT 284,383 177,807 223,000 223,000 65,000 EQUIPMENT 1,904,654 3,845,836 533,000 318,000 770,000 TOTAL EXPENDITURES 2,310,160 4,371,777 890,211 675,211 1,136,300 NET OF REVENUES/APPROPRIATIONS - FUND 400 737,396 (774,645) 56,789 271,789 (186,300) BEGINNING FUND BALANCE 414,454 1,151,850 377,205 377,205 648,994 ENDING FUND BALANCE 1,151,850 377,205 433,994 648,994 462,694  2021 2022 2023 2023 2024 ACTIVITY ACTIVITY AMENDED PROJECTED BUDGET GL NUMBER DESCRIPTION BUDGET Fund 420 - CAPITAL EQUIP REPLACEMENT FUND ESTIMATED REVENUES SALES & USE TAXES 420-00-00-31260 SALES TAX 0 0 200,000 0 300,000 420-00-00-31600 HOME RULE MOTOR FUEL TAX 135,308 132,868 120,000 120,000 120,000 SALES & USE TAXES 135,308 132,868 320,000 120,000 420,000 OTHER INCOME 420-00-00-34900 RENTAL INCOME 218,260 190,793 179,293 190,000 190,000 420-00-00-37100 INVESTMENT INTEREST 103 13,984 6,000 16,865 15,000 420-00-00-37150 INTEREST INCOME-LEASE 0 52,437 0 0 0 420-00-00-38100 MISCELLANEOUS REVENUE 33,333 0 0 0 0 420-00-00-38200 REFUNDS & REIMBURSEMENTS 206,023 216,340 240 240 240 420-00-00-38600 SALES OF SURPLUS PROPERTY 84,735 15,522 3,000 109,000 20,000 420-00-00-38700 CAPITAL LEASE ISSUANCE 305,464 331,937 0 0 0 OTHER INCOME 847,918 821,013 188,533 316,105 225,240 TRANSFERS IN 420-00-00-39100 TRANSFER FROM GENERAL FUND 25,000 0 200,000 200,000 200,000 TRANSFERS IN 25,000 0 200,000 200,000 200,000 TOTAL ESTIMATED REVENUES 1,008,226 953,881 708,533 636,105 845,240 EXPENDITURES CONTRACTUAL SERVICES 420-00-00-40002 LEASE PURCHASE CONTRACTS 72,408 0 0 0 0 420-00-00-61700 MAINTENANCE-VEHICLES 0 0 20,000 20,000 20,000 CONTRACTUAL SERVICES 72,408 0 20,000 20,000 20,000 DEBT SERVICES 420-00-00-77000 LOAN PRINCIPAL 16,667 145,570 141,657 141,657 141,657 420-00-00-78000 LOAN INTEREST 0 13,700 9,285 9,285 9,285 420-00-00-79000 CAPITAL LEASE PRINCIPAL 117,056 69,277 72,150 72,150 72,150 420-00-00-79100 CAPITAL LEASE INTEREST 27,277 20,414 16,198 16,198 16,198 DEBT SERVICES 161,000 248,961 239,290 239,290 239,290 EQUIPMENT 420-00-00-86000 EQUIPMENT 3,465 0 0 0 0 420-00-00-86100 TECHNOLOGY EQUIPMENT 28,702 99,506 0 0 50,000 420-00-00-86200 OFFICE FURNITURE & EQUIPMENT 0 0 0 0 0 420-00-00-86300 TELEPHONE & RADIO EQUIPMENT 0 0 25,000 25,000 25,000 420-00-00-87000 VEHICLES 100,898 489,244 0 0 85,000 420-00-00-87010 VEHICLES - POLICE 0 0 419,180 419,180 260,000 420-00-00-87020 VEHICLES - PUBLIC WORKS 0 0 260,000 260,000 401,840 420-00-00-87100 LEASE PURCHASE VEHICLES 305,464 331,937 0 0 0 EQUIPMENT 438,529 920,687 704,180 704,180 821,840 TRANSFERS OUT 420-00-00-91100 TRANSFER TO GENERAL FUND 0 0 0 0 0 420-00-00-91650 TRANSFER TO AIRPORT FUND 124,985 0 0 0 0 TRANSFERS OUT 124,985 0 0 0 0 TOTAL EXPENDITURES 796,922 1,169,648 963,470 963,470 1,081,130 NET OF REVENUES/APPROPRIATIONS - FUND 420 211,304 (215,767) (254,937) (327,365) (235,890) BEGINNING FUND BALANCE 739,597 950,904 735,137 735,137 407,772 ENDING FUND BALANCE 950,901 735,137 480,200 407,772 171,882  2021 2022 2023 2023 2024 ACTIVITY ACTIVITY AMENDED PROJECTED REQUESTED GL NUMBER DESCRIPTION BUDGET BUDGET Fund 262 - TIF FUND #3 ESTIMATED REVENUES PROPERTY TAXES 262-00-00-30300 PROPERTY TAX - TIF 458,809 507,254 519,935 519,935 550,000 PROPERTY TAXES 458,809 507,254 519,935 519,935 550,000 OTHER INCOME 262-00-00-37100 INVESTMENT INTEREST 1,097 30,553 6,000 35,000 27,000 262-00-00-38200 REFUNDS / REIMBURSEMENTS 0 8,713 0 0 0 OTHER INCOME 1,097 39,266 6,000 35,000 27,000 TRANSFERS IN 262-00-00-39260 TRANSFER FROM TIF #1 FUND 2,650,000 0 19,471 0 0 TRANSFERS IN 2,650,000 0 19,471 0 0 TOTAL ESTIMATED REVENUES 3,109,906 546,520 545,406 554,935 577,000 EXPENDITURES CONTRACTUAL SERVICES 262-00-00-62100 FINANCIAL SERVICES 556 8,660 8,830 8,830 9,272 262-00-00-63800 CONTRACTED SERVICES 0 6,111 6,294 6,300 1,890 262-00-00-65300 LEGAL EXPENSES & NOTICES 2,245 555 5,304 3,500 4,000 262-00-00-68600 TIF SURPLUS DISTRIBUTION 0 152,176 155,981 155,981 165,000 262-00-00-69199 PRIV PROP REHAB / REDEVELOP 624,588 759,729 347,154 347,154 238,100 CONTRACTUAL SERVICES 627,389 927,231 523,563 521,765 418,262 EQUIPMENT 262-00-00-83900 OTHER CAPITAL IMPROVEMENTS 127,053 1,868,349 500,000 480,000 290,000 EQUIPMENT 127,053 1,868,349 500,000 480,000 290,000 TOTAL EXPENDITURES 754,442 2,795,580 1,023,563 1,001,765 708,262 NET OF REVENUES/APPROPRIATIONS - FUND 262 2,355,464 (2,249,060) (478,157) (446,830) (131,262) BEGINNING FUND BALANCE 1,271,337 3,626,801 1,377,741 1,377,741 930,911 ENDING FUND BALANCE 3,626,801 1,377,741 899,584 930,911 799,650