Page 273 - City of Westlake FY20 Budget

Section 6 Special Revenue Funds
4B Economic Development Fund Overview

The 4B Economic Development Fund collects a half-cent sales tax to be allocated to qualified
development projects. Since FY 2006 the 4B Fund has been committed to the repayment of the debt
incurred for the Town’s Civic Campus project.

Revenues
• Revenues are budgeted to be $1,812,500
o This amount represents a 7% decrease of $137,500 from prior year estimated.

Transfers Out
• Transfers out to the Debt Service Fund are budgeted to be $1,812,500, representing 100% of
revenues.
o This amount represents a 7% decrease of $137,500 from prior year estimated.

Fund Balance
• Budgeted to be zero.

261