Page 20 - City of Bedford FY21 Budget

in this fund are resources for the operation and preservation of the Old Bedford School and
support of arts and culture in Bedford.

Street Improvement Economic Development Corporation – In November of 1997, the
citizens of Bedford approved an additional one-half of one percent sales tax for the purpose
of economic development. Specifically, these funds are allocated to street and road
improvements within the City of Bedford, along with paying for the maintenance and
operating expenses related to the projects. The City of Bedford Street Improvement
Economic Development Corporation was subsequently formed to administer the funds
provided by the additional sales tax revenue.

Budgeted revenue for the Corporation in FY 2020-2021 is $2,945,000 and budgeted
expenditures total $3,071,080. The Directors of the Corporation have approved the use of
fund balance to address street maintenance in lieu of issuing bonds. These expenditures
include preventive maintenance contracting, supplies and capital equipment, and
equipment replacements for a haul trailer and message boards. Expenses for the
Corporation are approved by the Board of Directors and recommended to the City Council
for approval.

 Miscellaneous Special Revenue Funds

Court Security Fund – This fund accounts for monies collected under State Statute
designed to provide security for the Municipal Court facilities. These funds are used
specifically to pay for a portion of the salary, benefit and operating costs of two full-time
bailiff/warrant officers in the Municipal Court.

Truancy Prevention & Diversion Fund – This fund accounts for monies collected under
the State Statute for financing the expenses of a juvenile case manager, including salary,
benefits, training, travel expenses, office supplies, and other necessary expenses. This fund
was established during FY 2019-2020.

Municipal Jury Fund – This fund accounts for monies collected under the State Statute
to fund juror reimbursements. This fund was established during FY 2019-2020.

Court Technology Fund – This fund is used for monies collected under State Statute
designed to provide increased technology for the Municipal Court facilities. These funds
are used specifically to pay for the operating costs of the Municipal Court computer
systems, audio-video system in the court room, and hand-held electronic ticket writers used
by the Police Department.

Park Donations Fund – This fund is used for contributions from citizens designated for
park improvements. Specifically, this donation is shown on utility bills, and citizens may
voluntarily include the $0.50 donation when making their utility bill payment. Typically,
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