Page 534 - Hurst FY19 Approved Budget

CITY OF HURST
WATER AND SEWER BOND FUND
2018 - 2019 BUDGET

The Water and Sewer Bond Sale Fund accounts for capital improvement programs and capital equipment
financed by bond sales. Although this fund is part of the Enterprise Fund, it is included in this section
because the projects are addressed by priority and funding in the Capital Improvement Program. The
ongoing capital improvement program for the replacement of utility mains and lines reduces operating
costs of the Enterprise Fund budget by replacing the oldest and poorest quality water and sewer mains
that have the greatest probability of breaking. New additions to the system will not impact maintenance
costs for at least ten years. Financing for capital improvements has been provided by the issuance of
revenue bonds in 1996, 1998, 1999, and 2000. Starting in 2001, Certificates of Obligation have been
issued instead of Revenue Bonds to fund the Capital Improvement Program and the debt was issued as
follows:

▪ 2001 $1,970,000
▪ 2002 $2,000,000
▪ 2003 $2,000,000
▪ 2005 $2,900,000
▪ 2007 $2,500,000
▪ 2008 $1,785,000
▪ 2009 $2,000,000
▪ 2015 $1,125,000

Fund Balance as of October 1, 2018
Restricted $1,616,266
Unrestricted 0
Estimated Receipts 3,000
Total Funds Available 1,619,266

Expenditures for 2018-2019 $1,222,815

Estimated Fund Balance September 30, 2018 $396,451

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

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