Page 29 - Saginaw FY21 Annual Budget

CITY OF SAGINAW
BUDGET HIGHLIGHTS
2020-2021

DEBT SERVICE FUND:

 The budget includes $4,127,320 funding for principal and interest payments. The
estimated fund balance at year end will be $926,390 which is a budgeted drawdown of
$209,465.

ENTERPRISE FUND:

 The City of Saginaw purchases water from the City of Fort Worth. Fort Worth has
proposed a 2.33% increase in wholesale water rates. This budget includes a 2.5%
increase in water rates for our customers.

 The City of Fort Worth bills the City of Saginaw for wastewater treatment based on the
strengths and volume that pass through the system. Fort Worth has proposed an
8.08% decrease in wastewater rates. This budget includes a 5% decrease in rates for
our customers.

 The City will continue to replace current water meters with cellular meter technology.
Funding of $684,000 will replace the remaining meters. This technology will allow
instantaneous meter reading and will give our customers the ability to monitor and track
their water usage.

 The proposed budget includes $37,000 to replace a service truck and $60,000 to
develop a resiliency study and emergency response plan required by the EPA.

 Construction for the Saginaw Boulevard 16” Water Line Phase 2 ($1,305,000) and a
northwest booster pump station ($432,500) will be funded with impact fess.

 The Enterprise Fund has been balanced with $211,305 of reserves for one time capital
items.

CAPITAL PROJECTS FUND:

 Construction will continue on the overpass spanning the railroad tracks and Saginaw
Boulevard. Tarrant County will partially fund the overpass project ($4,000,000 in 2020-
2021). A transfer of $2,600,000 from reserved General Fund balance is included as
partial funding for the project cost.

 Design will be completed for Old Decatur Road North ($55,000), all phases of the
Knowles Drive drainage and reconstruction project ($1,093,500), the traffic signal at
Knowles Drive and Bailey Boswell Boulevard ($30,000), and intersection improvements
at W.J. Boaz and Old Decatur Road ($90,000).

 Construction will begin on the Central Fire Station ($13,550,000).

 Fund balance of $21,408,635 will be used from previously issued bonds and certificates
of obligations for these capital projects.

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