Page 207 - Colleyville FY21 Budget

SPECIAL REVENUE FUNDS

While carrying restrictions on what their revenue can be used for, special
revenue funds play an important role in financing the services and programs
offered by the City of Colleyville. Three of the more significant special revenue
funds do have a budget for FY 2021 based on the requirements of the specific
fund, although only one is included in the annual General City Budget
Ordinance. The other two do have an annual budget, but they are each
adopted by an additional governing body before being approved by Council
via resolution or ordinance.

Other special revenue funds that do not have an annual budget only spend
resources as they become available, in accordance with the restrictions of the
fund, and financial summaries for each of those funds are not included in the
budget document. The available balance of those funds, however, was
considered when evaluating department budget requests and a number of
requests were funded from the available resources in the applicable special
revenue fund. Those instances are discussed in the Budget Message found at
the beginning of the FY 2021 Adopted Budget book. A list and description of
the various special revenue funds is also included in the Budget Message.
Several special revenue funds are also cited as revenue sources for the Capital
Improvement Program (CIP).

As mentioned, three special revenue funds do have an annual budget, only
one of which is included in the General City Budget Ordinance. Including this
information in the FY 2021 Adopted Budget book provides a more detailed
look at how certain items and services are funded. The pages that follow
provide information on the FY 2021 budget and future year forecasts for the
following special revenue funds:

 Hotel Occupancy Tax Fund (HOT), adopted on September 15, 2020
along with the General City Budget Ordinance

 Colleyville Crime Control & Prevention District Fund (CCCPD),
adopted on August 4, 2020 via a separate Ordinance approved by
the City Council

 Colleyville Economic Development Corporation Fund (CEDC),
adopted on September 1, 2020 via Consent Resolution approved by
City Council

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