FY 2020 Budget

2019 - 2020 Annual Budget

Tax Increment Financing (T.I.F.) Community & Economic Development

Division: Function:

Description of Services:

The Tax Increment Financing (TIF) fund accounts for the city's payments for development rebate agreements and to service existing debt the city has issued backed by TIF revenues. Development agreements are the primary incentive the city offers to business to locate within the community or to expand their current operations in the city.

Budget:

Actual

Actual

Original Budget

Revised Budget

Budget

Expenditures by Category

FY 16-17

FY 17-18

FY 18-19

FY 18-19

FY 19-20

Personnel Maint, Supplies, Services Capital Outlay Transfers

$

-

$

-

$

-

$

-

$

-

337,549

931,673

1,009,058

1,009,058

870,949

-

-

-

-

-

377,336 714,885

370,020

313,364

313,364

397,205

Totals

$

$

1,301,693

$

1,322,422

$

1,322,422

$

1,268,154

$

879,609

$

1,440,600

$

1,304,097

$

1,304,097

$

1,294,954

Dedicated Revenues

Expenditures by Category and Dedicated Revenue

$1,000,000 $1,200,000 $1,400,000 $1,600,000

Transfers Capital Outlay Maint, Supplies, Services Personnel Dedicated Revenues

$- $200,000 $400,000 $600,000 $800,000

Actual FY 16-17

Actual FY 17-18

Budget FY 18-19

Budget FY 19-20

132