Page 314 - City of Bedford FY21 Budget

City of Bedford
Program Summary
FY 2020-2021

Fund: Street Improvement Economic Development Corporation
Department: Public Works Division: Administration

PROGRAM DESCRIPTION
In November 1997, Bedford voters approved a half-cent sales tax for the purpose of maintenance and improvements of the street
network. Following approval of the tax levy, the Bedford Street Improvement Economic Development Corporation (SIEDC) was created
to direct and authorize all expenditures, with the City Council having final approval. The Council appointed a corporation that is
comprised of citizens and elected official to oversee the financial expenditures, street network maintenance and improvements. The
street network is comprised of the roadway, curb and gutter, sidewalks, traffic signals, lane and intersection markings, and street signs.

EXPENDITURE SUMMARY

ACTUAL ACTUAL BUDGET PROJECTED BUDGET
17/18 18/19 19/20 19/20 20/21
Personnel Services* - - - - -
Supplies 20,747 35,943 57,100 44,600 48,800
Maintenance 499,228 707,490 773,210 763,310 367,440
Contractual Services 835,686 1,994,891 2,526,380 2,155,960 2,045,380
Utilities - - - - -
Sundry 1,419,834 76,788 345,960 295,000 345,960
Capital Outlay 203,624 429,288 1,094,800 1,112,941 263,500

TOTAL: $2,979,120 $3,244,399 $4,797,450 $4,371,811 $3,071,080

*This area does not have any personnel assigned.

SIGNIFICANT CHANGES

Changes in project budgets as approved by SIEDC board ($1,388,500)
One-time expenses for supplemental approved in prior year budget ($394,800)
Supplemental funding for Message Board replacements $36,000
Supplemental funding for Haul Trailer replacement $22,500

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