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UPDATE AND UPGRADE OF EQUIPMENT
Funds are included in the 2020-21 Budget for software and for replacement and/or upgrade of computers, printers, peripherals, and other
hardware based on this schedule.
CHANGES IN PERSONNEL, NEW SERVICES, PROGRAMS, AND SPECIAL PROJECTS
Changes in Personnel
There are no personnel changes in the 2020-21 Budget.
New Services
No new services or programs are included in the 2020-21 Budget.
Special Projects
The 2020-21 Budget includes the continuation and expansion of the City’s street overlay program and the rebuilding of Benbrook streets by
transferring the remaining balance of $22,439 from the Road Damage Fund and increasing the street overlay program by $200,000. This
special revenue fund was established to repair City streets damaged from the transport of natural gas equipment and vehicles. Also, a transfer
of $500,000 from the General Fund to the Capital Projects Fund will be made for the purchase of a Fire Truck.
IMPACT OF THE 2020-21 BUDGET ON BENBROOK’S FUTURE
OPERATING FUNDS
The Operating Funds began the 2020-21 year with a fund balance of $8,840,625. The Operating Funds are projected to end the new fiscal
year with a fund balance of $8,954,197 based on revenues in the amount of $21,731,159; expenditures in the amount of $22,374,594; the
transfer of $22,439 from the Road Damage Fund; the transfer of $733,366 from the Stormwater Utility Fund; a transfer of $501,203 from
the TIF Fund; and 500,000 to the Asset Replacement Fund.
Financial experts and bond rating agencies recommend that the fund balance or reserves be maintained at a minimum level equivalent to ten
percent of the City's annual operating budget; three months of operating expenses is the preferred level. Reserves are projected to be 39.1
percent of total operating expenditures during 2020-21. This level of reserves is more than sufficient to meet established criteria. The City's
informal policy of maintaining reserves at $8,000,000 and at a minimum of three months of operating expenses is also more than satisfied.
Benbrook is more than prepared to face and to conquer economic and financial challenges in the current year and in future years.
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