Page 415 - Hurst FY20 Approved Budget

CITY OF HURST
WATER AND SEWER BOND FUND
2019 - 2020 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, 2019
Restricted $177,351
Unrestricted 0
Estimated Receipts 0
Total Funds Available 177,351

Expenditures for 2019-2020 $0

Estimated Fund Balance September 30, 2020 $177,351

The following tables provide comprehensive information about each project:
Project Number
Budget
Actual Expenditures as of 10/1/19
Estimated expenditures through 2019-2020
Estimated expenditures through 2020-2021
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 9/30/19

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