Page 21 - Colleyville FY19 Budget

This fund accounts for financial resources to be used for the acquisition or
construction of major capital projects – it is a governmental fund type. The capital
projects fund has no dedicated revenue source; any income received is from transfers
from the general fund, to set aside funding for capital projects that are often multi-
year in nature and not appropriate for an annual operating budget.

Capital Equipment Replacement Fund
The capital equipment replacement fund is an internal service fund to account for
funding for, and acquisition of, the City's vehicles, maintenance equipment, and
computer equipment. It is a governmental fund type and has no revenue source
other than transfers from other funds. It typically receives annual transfers and
serves as a savings account for vehicle and equipment replacement purchases.

Colleyville Tomorrow Fund
The Colleyville Tomorrow Fund is a capital projects fund used to account for proceeds
received on gas leases on city-owned property to be used for capital purchases.
Funds may be allocated at the discretion of the City Council. $394,700 has been
committed for installation of city-owned fiber and work will commence pending
negotiation with Grapevine-Colleyville ISD and the City of Grapevine, as the City of
Colleyville plans to contract with those entities to have fiber installed due to the
significant cost savings.

Parks Tomorrow Fund
The Parks Tomorrow Fund is a capital projects fund used to account for proceeds
received on gas leases on city-owned parks property for parks capital projects.

Park Land Dedication Fund
The Park Land Dedication Fund is used to account for the acquisition of land for new
park sites and to make improvements to or expand existing parks to better serve
new development. Fees collected from platting of new residential and commercial
property funds the improvements.

CONCLUSION

The City is committed to ensuring that residents receive excellent value for their tax
dollars, with which staff is able to provide the programs, services, and infrastructure
investment that form the foundation of the quality of life in Colleyville.

As always, staff will continue to be diligent in its review of City finances in order to
assist the City Council in making decisions that will ensure the fiscal viability of its
government. Additionally, staff will continue to evaluate and improve business
practices in an effort to find efficiencies, while also looking at regional synergies and
collaborations to reduce ongoing costs.

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