Page 81 - City of Bedford FY21 Budget

FINES

Fines are revenues received by the City primarily from Municipal Court for Class C
misdemeanor violations. Also included in this category are fines collected by the library for
overdue books. Fines generate approximately 1.89% of the overall City revenue.

CHARGES FOR SERVICES

Charges for services include revenue collected for emergency medical services, as well as
funding provided from a contract with the Immigration and Customs Enforcement (ICE) for
housing prisoners in the City of Bedford Law Enforcement Center detention facility. Over the
past few years this revenue has fluctuated dramatically and therefore is not considered to be a
stable source of revenue for ongoing City operations. Other revenue sources included in this
category are recreation revenues such as programs, rentals, and aquatics. Charges for Services
generates 6.41% of the General Fund revenue, but is the largest non-tax income source for the
whole city, at 35.86% of the overall revenue. The General Fund budget for recreation revenues
was decreased in this budget due to the closure of the City’s recreation facilities for planned
construction of a new building.

INTEREST

Interest revenue is conservatively estimated based on investment of 100% of idle cash as stated
in the City of Bedford Investment Policy. Due to interest rates fluctuations, interest revenue will
be closely monitored and adjustments in the City’s investment portfolio will be made
accordingly in all funds.

MISCELLANEOUS REVENUE

Miscellaneous revenue accounts for approximately 1.36% of the overall revenue budgeted for
the City. Included in this category are sale of surplus property and various types of non-
recurring revenue. Referencing the graph “Total Revenue by Function,” miscellaneous revenue
includes interest income, licenses and permits, other governmental revenue, as well as
miscellaneous income.

OPERATING TRANSFERS

Operating transfers represent 8.48% of the total revenue budgeted for the General Fund and
7.12% of the overall revenue budgeted for the City. These transfers reimburse the General Fund
for administrative services and other support functions that the General Fund operations provide
for other funds.

ENTERPRISE FUNDS

The Water and Sewer fund is one of two enterprise funds that are included in the City of Bedford
budget. Water and Sewer revenues are received from water sales and sewer charges to utility

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