TIRZ Number Three Fund

TAX INCREMENT FINANCING NUMBER THREE

Fiscal Year 2022 – 2023 Budget

In October 2013, the Town Council of the Town of Little Elm approved Ordinance No. 1175 designating a contiguous geographic area within the Town of Little Elm, as a Tax Increment Reinvestment Zone to known as Reinvestment Zone Number Three.

TAX INCREMENT FINANCING NUMBER THREE FUND SUMMARY

Actual Amended Budget Estimated Budget Adopted Budget Planning Years

2020 - 2021 2021 - 2022 2021 -2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026 2026 - 2027

BEGINNING FUND BALANCE $1,003,443 $1,084,894 $1,084,894 $1,015,542 $271,936 $823,088 $1,639,026 $2,506,222

REVENUES

Ad Valorem Taxes $421,853 $433,061 $438,665 $782,654 $1,167,383 $1,445,425 $1,492,975 $1,735,567 Sales Taxes 128,739 119,600 142,552 156,807 161,512 166,357 170,516 173,926 Interest Earnings 6,884 8,500 6,961 7,000 8,500 10,000 15,000 15,000 Other Agencies & Sources 2,243 - - - - - - Transfers In - - - - - -

TOTAL REVENUES $559,719 $561,161 $588,178 $946,462 $1,337,395 $1,621,782 $1,678,491 $1,924,493

TOTAL FUNDS AVAILABLE $1,563,162 $1,646,055 $1,673,073 $1,962,003 $1,609,331 $2,444,870 $3,317,516 $4,430,716

EXPENDITURES

Economic Development $131,380 $260,710 $205,137 $440,067 $322,999 $339,750 $342,750 $322,750 Debt Service 216,887 326,700 322,394 - 313,244 316,094 318,544 317,844

TOTAL EXPENDITURES $348,267 $587,410 $527,531 $440,067 $636,243 $655,844 $661,294 $640,594

Transfers Out 130,000 130,000 130,000 1,250,000 150,000 150,000 150,000 150,000

TOTAL TRANSFERS $130,000 $130,000 $130,000 $1,250,000 $150,000 $150,000 $150,000 $150,000

TOTAL EXPENDITURES INCL. TRANSFERS $478,267 $717,410 $657,531 $1,690,067 $786,243 $805,844 $811,294 $790,594

NET INCOME/NET CHANGE $81,452 ($156,249) ($69,353) ($743,605) $551,152 $815,938 $867,197 $1,133,899 RESTRICTED RESERVE - DEBT SERVICE $200,000 $200,000 $200,000 $- $- $- $- $- ENDING FUND BALANCE $884,894 $728,645 $815,542 $271,936 $823,088 $1,639,026 $2,506,222 $3,640,122