Page 78 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

DEBT SERVICE

Debt service requirements increased by $680 from $1,562,104 in 2018-19 to $1,561,424 in 2019-20. Principal payments increase by
$40,000 in 2019-20 to $1,430,000 from $1,390,000 in 2018-19; interest expenses decrease by $40,680 from $168,304 in 2018-19 to
$127,624 in 2019-20. Agent fees remain at $3,800.

TRANSFERS AND USE OF UNAPPROPRIATED RESERVES

The 2019-20 Budget and the 2018-19 re-estimate include the transfer of reserves from the General Fund to the Capital Asset Replacement
Fund; these funds are designated for the purchase of major pieces of equipment in future years. The 2018-19 transfer was $250,000; the
2019-20 transfer is $250,000.

$650,000 will be transferred in 2019-20 for the construction of the Clearfork Emergency Access Bridge. $500,000 was transferred in 2018-
19.

The 2018-19 re-estimate includes the transfer of $214,804 from General Fund reserves to the Animal Shelter Account of the Capital Projects
Fund for completion of the shelter. The 2019-20 Budget does not include the transfer of funds from General Fund reserves to this fund.

The 2019-20 Budget reflected the establishment of a Wall Repair Fund to set aside General Fund reserves to finance building and repairs
in 2019-20 and in future years. The source for the first-year of funding was $250,000 from unallocated General Fund reserves. Projects
completed for 2018-19 included: the purchase of a new Street Sweeper, renovation of the Jail, an upgraded 800mhz radio system, shade
structures for playgrounds, and a tack trailer.

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