Regular Meeting – RESCHEDULED (Draft 2024-2025 Budget)
Event Date: 2024-01-11
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**Executive Summary**
This document presents the draft budget for the Township of Kasson for the Fiscal Year Ending (FYE) 2025, comparing it to actual totals from FYE 2021-2023 and year-to-date (YTD) figures through November 2024. The budget encompasses both ordinary income and expenses, alongside other income/expense related to Fire Revenue. The document outlines revenue projections from various sources, including taxes, state shared revenue, licenses, and permits, as well as expenditures allocated to various departments and services within the township, such as the Township Board, Supervisor, Clerk, Assessor, and others.
**Income and Revenue**
The total proposed income for FYE 2025 is $534,870.00, a significant increase from the actual total of $400,142.50 in FYE 2023, and the YTD estimated of $308,702.98 for FYE 2024. Major income sources include taxes, state shared revenue, solid waste, and licenses and permits. The document highlights a significant increase in state shared revenue and a projected increase in solid waste revenue. Additionally, the document outlines projected revenue for Fire Millage, totalling $342,500.00.
**Expenditures and Expenses**
Total expenses are budgeted at $534,870.00 for FYE 2025, consistent with the total income. Expenses are broken down across various township departments, including the Township Board, Supervisor, Clerk, Assessor, and others. Major expense categories include salaries, payroll taxes, professional services, and capital outlays. The document includes allocated expenses for the Fire Department, covering both operational costs and capital outlays.
**Financial Performance and Outlook**
The net ordinary income for FYE 2025 is budgeted at $0.00, reflecting balanced revenues and expenditures. The document also provides information on fire revenue and expenses, highlighting the financial impact of fire-related services. The Net Other Income projects to $0.00 for FYE 2025. The document serves as a financial blueprint for the Township of Kasson, reflecting the anticipated revenues and expenses and enabling financial planning for FYE 2025.