Page 275 - Manfield FY21 Budget

Capital Projects Funds

On October 28, 2013, City Council adopted the Modified Long Range Financial and Capital Expenditure
Plan. Included in the plan were projected revenues and expenditures for operational costs, staffing costs
and major capital improvements identified by staff and supported by Management and City Council. In
FY 2020-2021, major projects are budgeted in various funds including Street Construction, Utility
Construction, Drainage Construction, Building Construction, Parks Construction, Economic Development
Construction and Equipment Replacement. Funding for these projects comes from a variety of sources,
including but not limited to, General Obligation Bonds, Revenue Bonds, Certificates of Obligation,
Impact Fees, Contributions, Grants, Fund Reserves and Intergovernmental Transfers. Total estimated
capital expenditures for these projects for FY 2020-2021 is $41,938,160. No new issuance of General
Obligation Bonds is anticipated in FY 2020-2021. Prior Year bond issuance has been repurposed and
reprioritized to fund capital projects.

2020-2021 Capital Projects

Equipment Streets
5% 15%
Building
17% Parks
12%

MEDC
7%

Drainage
2%

Utilities
40%

Funding Sources

2020-2021 Utility Street Building Equipment Parks Drainage MEDC
Funding Sources Fund Fund Fund Fund Fund Fund Fund Total
Bonds $ -
Impact Fees 1,500,000 1,000,000 $ 2,500,000
Prior Year Funding 15,428,588 3,208,875 2,427,229 955,000 3,000,000 $ 25,019,692
Prior Year Bond Repurpose 5,117,976 4,000,000 1,214,720 2,550,000 $ 12,882,696
Contributions/Grants $ -

Transfers 1,535,772 $ 1,535,772
Total Sources $ 16,928,588 $ 6,117,976 $ 7,208,875 $ 2,750,492 $ 4,977,229 $ 955,000 $ 3,000,000 $ 41,938,160

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