Page 281 - City of Westlake FY20 Budget

Section 6 Special Revenue Funds

Local Public Improvement District Overview

The Public Improvement District (PID) Fund (Local) accounts for monies received from the original bond
proceeds, inspection fees and payments related to the Solana Public Improvement District.

The District was created by ordinance in February 2014 to finance the construction of public infrastructure
(such as water lines and streets) in the Entrada subdivision. This fund was created to segregate “Local” PID
expenditures from the Capital Project Fund.

Revenues deposited into the PID Fund are used to cover engineering, consulting, legal, and advertising costs
attributable to Entrada development and construction.

Revenues and Transfers In
• There are no budgeted revenues for FY19/20
• This reflects a 100% decrease of $60,000 when compared to prior year estimated.
o Misc. Income decreased $15,000 due to one-time PID reimbursements receipts received in
the prior year.

Expenditures and Transfers Out
• There are no budgeted expenditures for FY19/20
• This reflects a 100% decrease of $38,330 when compared to prior year estimated.
o Services decreased $38,330 due to one-time costs in the prior year for consultant and
attorney fees.

Fund Balance
• The ending fund balance is projected to be $392,490.

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