INCOME AND EXPENSE STATEMENT
The Income and Expense Statement is an executive summary that outlines a simplified statement of the five year forecast. It takes revenues, plus levies not passed, minus expenses and shows whether the District is in a Surplus or Deficit situation. The District passed a $1.58 million levy in May 2017 so the next renewal will be collected in Tax year 2023 (on the ballot in November of 2022). This renewal is in Fiscal Year 2023. The Income and Expense Statement outline the revenue and expenditures for all five years. The black is revenue received and forecast to be received and the Red Line is expenditures. From this graph, you can see that the District
does deficit spend (one year of expenses vs. the same year revenue with no
carryover) in FY20 ($11,197), FY21 ($2,002,766), FY22($2,987,658) and FY23 ($4,951,631)
and FY24 ($6,802,324). However, if you
include carryover, the District does not see a deficit balance until FY 2024 ($4,725,073
without levy renewal). If the Levy is renewed, that number drops to a deficit of $2,284,764.