Page 241 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 6 Special Revenue Funds
4B Economic Development Fund Overview

The 4B Economic Development Fund collects a half-cent sales tax to be allocated to qualified
development projects. Since FY 2006 the 4B Fund has been committed to the repayment of the
debt incurred for the Town’ s Civic Campus project.

Revenues
Revenues are budgeted to be $1,400,000
o This amount represents a 13 increase of $162,500 from prior year estimated.

Transfers Out
Transfers out to the Debt Service Fund are budgeted to be $1,400,000, representing 100%
of revenues.
o This amount represents a 13% of $162,500 increase from prior year estimated.

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