Page 24 - Saginaw FY19 Annual Budget

The Donations Fund was created in May 2009 to better track funds received through
water bill donations as well as direct donations to the City for specific purposes. Currently,
Animal Services, Parks, Library, Beautification, Police, Fire, and Senior Center have
donation funds available for expenditure. Voluntary donations, through monthly utility
bills, for the Library and Parks were increased from 50 cents to $1 per month for FY 2018-
2019. We anticipate revenues of $232,000 and expenditures of $188,120 with an
operating surplus of $43,880 that will be used for future authorized expenditures. Ongoing
expenses include books, data processing, and supplies for the Library; highway mowing,
seasonal planting and holiday decorations from beautification donations; and supplies for
the annual Fire Camp, and Easter Egg Hunt. Two summer library pages will continue to
be funded with library donations, 10 light poles will be repainted, and half the cost of the
animal services vaccination program. A Beautification Plan update ($30,000) and
signage on the Ardent Mills Silo ($40,000) is included in this year’s Donation Fund budget.

The General Government Escrow Fund was created in FY 2014-2015 to better track
funds that are received and are to be used for a specific purpose. These receipts will
remain in the General Government Escrow Fund until an appropriate expense is
approved by the City Council. Approved expenses include: Chamber of Commerce
funding, $10,000 for the “Train and Grain” festival, municipal court data processing
expenses, the replacement of three ticket writers, police overtime expense for bailiff duty,
and insurance deductibles and repairs.

The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track
impact fee funds that are received and are to be used for a specific purpose. These
receipts will remain in the escrow fund until an appropriate expense is approved by the
City Council. Funds are approved to be used for the design of the Saginaw Boulevard
16” Water Line Phase 2 project.

DEBT SERVICE FUND

Debt service requirements for outstanding general obligation and certificates of obligation
bonds are $3,381,610 with $2,495,000 for principal and $886,610 for interest expense.
The adopted tax rate is sufficient to fund the required debt service payments for the fiscal
year.

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