Page 389 - NRH FY20 Approved Budget

GAS DEVELOPMENT FUND

Revenue for the Gas Development Fund is generated from natural gas development. In June 2006 City
Council adopted a resolution creating a conservative policy on the use of natural gas development
revenues. The policy was established to avoid over-reliance on these revenues and to establish how
the revenues would be used. Caution was taken in considering uses for gas revenues because it is
difficult to predict well production and long term production normally means the production decreases
over time. In general the policy guidelines establish three areas for using the money: (1) to bridge the
gap of sales tax revenue reductions, (2) to use “one time” revenues for projects or non-recurring capital
needs, and (3) to use the revenues for expanding the City’s economic base and for economic
development.

FY 2019/2020 Adopted Budget
Gas Dev. Fund
Salaries $ ‐
General Services ‐
Maintenance ‐
Sundry 1,487,479
Supplies ‐
Capital ‐
Total $ 1,487,479

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