Page 19 - City of Bedford FY21 Budget

River Authority and the capital investment needed in the infrastructure. The City Council
also moved the personnel and expenses of the Risk Management Division and the
Accounting Division back to the General Fund in this budget.
 Stormwater Utility Fund

The Stormwater Utility Fund was established in 1991 in accordance with amendments to
Title 13 of the Texas Local Government Code. It is structured under the enterprise fund
concept. Revenues for this fund are derived from a monthly fee charged to each utility
customer, calculated based on the impervious surface on the property. The residential
stormwater utility rate is $4.50 per month ($4.00 per month for residential account holders
over 65 years of age) and this number is used in the base calculation for non-residential
properties. Expenses in the Stormwater Utility Fund are used for stormwater maintenance
personnel, mowing and maintenance of drainage channels, mosquito control, street
sweeping, environmental awareness, and debt service payments on long-term obligations
for capital projects throughout the stormwater system. Budgeted revenue for the
Stormwater Utility Fund for FY 2019-2020 is $1,651,000 and expenses are budgeted at
$1,793,638. Expenditures are relatively stable in this fund, with the primary increases being
leases for vehicle replacements and operating transfers. During FY 2019-2020, staff has
been working with a consultant to evaluate the rates for water and sewer services. Council
will consider a rate increase in FY 2021-2022 to address the findings of the rate study.

 Debt Service Fund

The Debt Service Fund (sometimes referred to as the Interest and Sinking Fund) is used to
account for the accumulation of resources for the repayment of general long-term debt.
The tax rate for the repayment of long-term debt in FY 2020-2021 is $0.184367, which is
a decrease from the rate for FY 2019-2020 of $0.191591. Summary schedules and detailed
information on individual bond obligations can be found in the Debt Service Fund section
of this budget document.

 Special Revenue Funds

Tourism Fund – This fund was established to record revenue and expenditures associated
with the collection of a 7% hotel/motel occupancy tax levied by the City of Bedford and
authorized by the State of Texas. The tax is levied on the rental rate for hotel rooms in
Bedford when the room is occupied by the same tenant for a period of not more than 30
days. Funds generated by the Hotel Occupancy Tax are used to promote tourism, arts and
culture, and historic preservation.

Significant programs funded by the Tourism Fund include the Labor Day Blues & BBQ
Festival, which has developed a national reputation for quality Blues music and a nationally
recognized BBQ contest sanctioned by The Kansas City Barbeque Society. Also included

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