Page 76 - City of Bedford FY20 Approved Budget

CITY OF BEDFORD
SUMMARY OF REVENUE AND EXPENDITURES BY FUND
FISCAL YEAR 2019-2020
BEGINNING REVENUE EXPENDITURES ENDING CHANGE IN
FUND NAME BALANCE BALANCE FUND BALANCE

GENERAL FUND $ 8,058,465 $ 37,707,594 $ 37,112,322 $ 8,653,737 7.39%

TOURISM FUND 36,152 1,310,400 1,297,514 49,038 35.64% 1
WATER AND SEWER FUND 56,624 * 23,426,823 23,731,400 (247,953) -337.89% 2

STORMWATER UTILITY FUND 862,714 * 1,775,000 1,779,903 857,811 -0.57%
UTILITY REPAIR & MAINTENANCE FUND 4,093,130 * 1,030,000 600,000 4,523,130 10.51% 3

COURT SECURITY FUND 1,457 25,000 25,000 1,457 0.00%
COURT TECHNOLOGY FUND 68,535 46,000 45,710 68,825 0.42%

PARK DONATIONS FUND 89,796 13,000 75,000 27,796 -69.05% 4

BEAUTIFICATION COMMISSION FUND 53,706 10,600 25,000 39,306 -26.81% 5

PUBLIC SAFETY TRAINING FUND 11,897 6,100 6,150 11,847 -0.42%

ECONOMIC DEVELOPMENT FUND 379,887 53,000 140,000 292,887 -22.90% 6

STREET IMPROVEMENT ECONOMIC DEVELOPMENT CORP. 2,998,082 2,945,000 4,797,450 1,145,632 -61.79% 7
DEBT SERVICE FUND 1,092,778 7,521,968 7,521,742 1,093,004 0.02%

PEG FUND 816,350 55,000 38,400 832,950 2.03%
COMMERCIAL VEHICLE ENFORCEMENT FUND 23,242 117,710 117,705 23,247 0.02%
SWAT - NETCAST FUND 5,587 60,500 60,000 6,087 8.95%

PARK MAINTENANCE FUND 153,651 52,000 100,000 105,651 -31.24% 8

COMPUTER REPLACEMENT FUND 152,841 61,000 20,000 193,841 26.83% 8

AQUATICS MAINTENANCE FUND 134,280 27,000 10,000 151,280 12.66% 8

LIBRARY MAINTENANCE FUND 72,416 25,500 34,500 63,416 -12.43% 8

FACILITY MAINTENANCE FUND 349,262 48,000 30,000 367,262 5.15%
EQUIPMENT REPLACEMENT FUND 98,211 709,850 708,850 99,211 1.02%

POLICE VEHICLE REPLACEMENT FUND 62,764 78,500 77,630 63,634 0.00%
WATER/SEWER VEHICLE REPLACEMENT FUND 282,869 * 52,000 224,000 110,869 -60.81% 8

$ 19,954,694 $ 77,157,545 $ 78,578,276 $ 18,533,963
* The beginning balance for these funds are based on Working Capital. Calculations are based on the information located in the CAFR - City Annual
Financial Report.
Notes for Fund Balance changes greater than 10%:
1: The City is rebuilding the balance of the fund in accordance with fund balance policies.
2: The City will conduct a rate study to ensure revenues are sufficient and to rebuild the working capital in the coming year.
3: This is a maintenance account for the water and wastewater infrastructure. Expenditures are planned for capital needs.
4: Expenses from this fund are restricted to projects related to park improvements, funds are used as identified by the Parks & Recreation Board.
5: Expenses from this fund are restricted to the activities of the Beautification Commission, funds are used as identified by the Commission.
6: Expenses in this fund are for projects necessary for economic development initiatives and appropriated as determined by the City Council.
7: Expenditures are approved by the Street Improvement Economic Development Corporation, funds were appropriated for larger projects, while still maintaining the
reserve requirement for bonds.
8: This is a maintenance fund used to accumulate funding for a pay-as-you go plan in capital replacement. Expenditures are for planned capital needs.

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