Page 34 - Saginaw FY20 Annual Budget

CITY OF SAGINAW

BUDGET HIGHLIGHTS
2019-2020

 Parks donations will fund electrical improvements ($10,000) at Willow Creek Park for
the expanded holiday light display.

 Beautification donations will begin a public art program ($25,000).

GENERAL ESCROW FUND

 The General Government Escrow Fund was created in FY 2014-2015 to better track
funds that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund are: hotel/motel tax, court technology fees, court security fees, gas
production proceeds, and insurance deductibles and settlements.

 The equipment replacement for the General Fund will be accounted for in the General
Escrow Fund. The equipment replacement escrow began in FY 2018-2019. The
annual contribution will be based on the useful life of the purchased asset and the
estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY 2018-2019 will be in the equipment replacement escrow, as long as the
annual contribution is made. The contribution for General Fund equipment in FY 2019-
2020 is $43,265.

 Revenues are budgeted at $160,755.

 Budgeted expenditures include $10,000 for each advertising and entertainment for the
“Train and Grain” festival, a transfer to the General Fund for court security (Bailiff
$5,000), the replacement of two hand held ticket writers ($7,000), and insurance
deductibles/repairs ($40,000).

WATER/WASTEWATER ESCROW FUND

 The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track funds
that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund include water impact fees.

 The equipment replacement for the Enterprise Fund will be accounted for in the
Enterprise Escrow Fund. The equipment replacement escrow began in FY 2018-2019.
The annual contribution will be based on the useful life of the purchased asset and the
estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY 2018-2019 will be in the equipment replacement escrow, as long as the
annual contribution is made. The contribution for Enterprise Fund equipment in FY
2019-2020 will be $20,245.

 $1,086,050 in water impact fees will be transferred to the Enterprise Fund for the
construction of the Saginaw Boulevard 16” water line phase 2 project.

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