12/09/2024
FACTUAL PRESENTATION OF THE PROPOSED 2025 BUDGET:
OPERATING REVENUE: $19,999,600 WITH 14.998 MILL RATE
OPERATING EXPENSES: $20,598,900
TO COVER OPERATING: -$ 599,300
FUND BALANCE REVENUE: $6,903,400 NOT FUNDED W/TAXES
FUND BALANCE EXPENSES: -$3,000,000 COLLINS ROAD
(CAPITAL PROJECT) -$1,653,400 EMS RENOVATIONS
-$ 250,000 FOR HELP AGENCY
- $1,400,700 ADD'L REQUESTS
- 599,300 OP BUDGET SHORTAGE
WHILE PROPOSED BUDGET IS $26,903,000...$6,903,400 IS BEING FUNDED BY FUND BALANCE...NOT INCREASED PROPERTY TAXES.
Fund balance is an accounting term to describe the difference between a fund’s assets and liabilities. For “cash basis” entities (the majority of local governments in Washington), fund balance represents the net cash after all revenues have been deposited and all expenses have been paid.