Page 526 - Hurst FY19 Approved Budget

CITY OF HURST
STREET BOND FUND
2018 - 2019 BUDGET

The Street Bond fund accounts for the financing and construction of various street projects throughout the City.
Street Bond fund financing is provided by Certificate of Obligation (CO) proceeds and debt was issued as follows:

▪ January 2000 $1,735,000
▪ June 2001 $1,680,000
▪ August 2002 $1,525,000
▪ July 2003 $2,360,000
▪ June 2005 $1,500,000
▪ July 2006 $1,825,000
▪ July 2007 $2,000,000
▪ August 2008 $2,015,000
▪ July 2009 $2,000,000
▪ July 2015 $2,800,000

Remainingfunds available equal thebond sale proceeds andinterest earnings less projects costs to-date. Projects
primarily involve street reconstruction andenhancements thatwill addto thevalue andlife of the infrastructure with
very little impact on current operating costs. Most projects providesubstantial savingsto theoperating budgetsby
reducing maintenance costs.

Fund Balance as of October 1, 2018
Restricted 5,313,825
Unrestricted 0
Estimated Receipts 10,000
Total Funds Available 5,323,825

Expenditures for 2018-2019 $1,226,391

Estimated Fund Balance September 30, 2019 $4,097,434

The following tables provide comprehensive information about each project:
Project Number
Budget
Actual Expenditures as of 10/1/18
Estimated expenditures through 2018-2019
Estimated expenditures through 2019-2020
The estimated costs or savings expected to operational funds as a result of the project
Project description
Project justification
The status and operating impact as of 9/30/18

509