Page 24 - Saginaw FY21 Annual Budget

The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track
impact fee funds that are received and are to be used for a specific purpose. These
receipts will remain in the escrow fund until an appropriate expense is approved by the
City Council. Funds are approved to be used for the construction of the Saginaw
Boulevard 16” Water Line Phase 2 project.

DEBT SERVICE FUND

Debt service requirements for outstanding certificates of obligation, tax notes, and general
obligation are $4,140,320. The adopted tax rate is sufficient to fund the required debt
service payments for the fiscal year.

CAPITAL PROJECTS FUND

The Capital Projects Fund consists of projects as recommended by our staff and
engineers and approved by the City Council. The Bailey Boswell Overpass project will
continue in FY20/21. Traffic will be able to stay at ground level from Jarvis Road to
Saginaw Boulevard or take the bridge which will go over two sets of railroad tracks and
over Saginaw Boulevard giving access to the existing commercial developments on the
west side. Tarrant County will provide partial funding for this phase of the project. Design
will be completed and construction will begin on the Central Fire Station. Design will be
completed for all phases of Knowles Drive, Old Decatur Road North, the traffic signal at
Knowles Drive and Bailey Boswell, and intersection improvements at WJ Boaz and Old
Decatur Road.

ENTERPRISE FUND

The total revenues projected for this fund are $11,104,980. Wastewater rates will remain
unchanged. The water rates will increase due to the 2.33% increase in the rate charged
by the City of Fort Worth for the purchase of water. Wastewater rates will decrease due
to the Fort Worth decrease of 8.08%. Projected revenue will be sufficient to cover
projected operating expenses. Budgeted expenses total $11,316,285. The budgeted
use of fund balance is $211,305 and will be used for the second phase of water meter
replacement, enabling the use of cellular technology. A resiliency study and emergency
response plan is funded. The construction for the Saginaw Boulevard 16” water line
Phase2 and the northwest booster pump will be funded with a transfer of impact fees from
the Enterprise Escrow Fund.

The Enterprise Emergency Reserve has a balance of $2,250,000. The Enterprise Fund
Emergency Reserve needs to be sufficient to operate the Water Department for four
months. These funds would only be used in an emergency and only with Council
approval.

The debt service for outstanding revenue bonds is $234,175 with $210,000 for principal
and $24,175 for interest expense.

24