Page 21 - City of Bedford FY21 Budget

funding is authorized for improvements to various parks, including picnic shade structures
planned for the upcoming fiscal year.

Beautification Fund – This fund accounts for revenue and expenditures related to various
city-wide beautification programs proposed by the City’s Beautification Commission.
Annual revenue of $10,000 is collected via a grant from Republic Services, designated
specifically for beautification projects within the City.

Commercial Vehicle Enforcement Fund – This fund accounts for the federal fine
revenue generated from the Commercial Vehicle Enforcement program. Until the fund
reaches self-sufficiency, it will also receive a transfer from the General Fund. Expenditures
include the personnel and equipment to operate the program. The program’s objective is
to reduce commercial motor vehicle accidents through the enforcement of Motor Carrier
Safety Regulations and state laws regulating the weight of commercial vehicles.

Economic Development Fund –This fund is used in conjunction with the City of Bedford
Economic Development Policy and Program and the City of Bedford Retail Center
Revitalization Program (RCR). This fund receives an annual transfer of $50,000 to be used
by the City Council for incentives and payments related to approved Economic
Development agreements. Funding is authorized in the proposed budget for a revitalization
study and economic development incentive grants.

PEG (Public, Educational and Governmental) Fund – In 2011, the legislature passed
SB 1087 allowing each local incumbent cable franchisee to terminate all its local franchises
in cities of less than 215,000, if completed by December 31, 2011. This action is also in
compliance with the SB 5 from the 2005 legislature, which transferred cable franchising
authority to the Public Utility Commission. Time Warner Cable exercised their option to
terminate its local franchise with the City of Bedford and opted into statewide
franchising. In accordance with SB 1087, a municipality must set up a separate PEG fund
at the time of franchise termination to collect and account for the PEG fee, which goes into
effect at the time of termination. The PEG fee is an additional 1% of gross revenue and
can only be spent on capital items for the local access channel as described by federal
law. The PEG fee is also required of AT&T, as well as any future cable provider that may
choose to provide service in Bedford.

 Maintenance Funds

Various funds were established for specific maintenance purposes. Monies are deposited
each fiscal year in order to accumulate funding for capital equipment and large,
infrequently occurring maintenance projects. Expenses in these accounts are identified in
the program summary for the fund and constitute approved supplemental requests. These
funds include:

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