Page 47 - Saginaw FY21 Annual Budget

CITY OF SAGINAW
5-YEAR FUND SUMMARY
2020 - 2021
Explanation of Variances

Note 1 - The $955,543 surplus in the General Fund is due to increased sales tax and the delay of an economic development incentive
loan. There was a planned drawdown ($153,288) of fund balance in the Debt Service Fund. The $2,030,900 surplus in Capital Projects
Fund is due to the issuance bonds and the construction delay for the Bailey Boswell Road project. One time capital purchases are
funded with previous collections in the CCPD Fund, resulting in a deficit of $69,881. The $559,198 surplus in Drainage Utility reflects
the $1 per month fee increase. Fund balances in future years will be used for drainage construction projects. The $168,378 surplus in
the Street Maintenance Fund is due to increased sales tax and the delay of several street maintenance projects.The $298,180 increase
in the Water/Wastewater Escrow Fund is due to increased collection of water impact fees as a result of increased construction activity.

Note 2 - The $49,193 deficit in the General Fund is for one time capital purchases. There was a planned drawdown of fund balance in
the Debt Service Fund. The $5,389,206 deficit in Capital Projects Fund is due to use of previously issued bonds for the construction of
the Bailey Boswell Road project. The $515,747 surplus in Drainage Utility reflects actual collections. The fund balance in future years
will be used for drainage construction projects. There was a surplus in the Street Maintenance Fund due to delay of the Burlington Road
project. The $324,578 surplus in the General Escrow Fund is due to a developer contribution for the future improvements to Old
Decatur Road, increased hotel/motel tax revenue, and unusually high year for insurance claims. The $232,839 deficit in the
Water/Wastewater Escrow Fund is a result of using previously collected water impact fees for the South Hampshire 16" waterline and
the Saginaw Boulevard 12" water line phase 2 projects. The $505,349 surplus in the Enterprise Fund is due to strong water sales
throughout the spring and summer, higher than average sewer surcharge revenue, and the delay of several planned capital projects.
Note 3 - The $94,496 surplus in the Debt Service Fund is due to higher than anticipated property tax collections. The $209,687
surplus in Capital Projects Fund reflects unspent tax note proceeds. The $47,410 deficit in the CCPD Fund was for the replacement of
patrol vehicles. The $419,046 surplus the Drainage Fund is due to the delay of the East Cement Creek Drainage project. The suprlus
of $111,139 surplus in the Street Maintenance Fund relfects the delay of the Burlington Road project. The $104,520 surplus in the
Donations Fund reflects increased donations for the Train & Grain Festival, the delay of the Beautification Plan update and savings in
the Ardent Mills mural. The $124,952 surplus in the General Escrow Fund reflects a developer contribution for future improvements to
Old Decatur Road. There was a $219,222 surplus in the Enterprise Escrow Fund due to the collection of water impact fees that will be
used for eligible projects in future years. The planned $1,409,093 surplus in the Enterprise Fund is due to the delay of several
budgeted projects: projects to prevent inflow and infiltration of the wastewater system, design for the Saginaw Boulevard 16" water line
phase 2, the construction of the Fairmont sewer rehabilitation phase 1, and the relocation of utilities along FM 156 in preparation of the
Texas Department of Transportation road project.

Note 4 - The $601,715 surplus in the General Fund is due to strong sales tax, buidling fee, and utility franchise fee collections. Cost
saving measures were taken to manage the impact of COVID-19 on City operations. The General Fund also received federal CARES
Act funding through Tarrant County to offset increased exepnditures resulting from the pandemic. The $138,535 deficit in the Debt
Service Fund is for the cost to issue Certificates of Obligations and lower than budgeted property tax collections due to increased
exemptions granted by Tarrant Appraisal District. The $14,694,570 increase in the Capital Projects Fund is due to the issuance of
Certificated of Obligation for future capital projects partially offset by expenditures for the Bailey Boswell Road and Overpass project.
The $52,270 surplus in the CCPD Fund is due to strong sales tax collections. The 174,965 deficit in the Drainage Utility Fund is due to
beginning the East Cement Creek Drainage project, the replacement of capital equipment and payment of a developers agreement
carried forward from the previous year. The $804,285 drawdown in the Street Maintenance Fund is for the East McLeroy curb and
gutter project, the completion of Knowles Drive conceptual plan, and the reconstruction of Anderson Street. The $61,485 surplus in the
Donations Fund is due to donations exceeding planned expenditures for both Parks and Library. Many library programs were cancelled
or modified due to the pandemic. The $40,470 surplus in the General Escrow Fund is due to the transfer from the General Fund for
future equipment replacement. There $71,745 increase in the Enterprise Escrow Fund is due the collection of water impact fees that
will be used for eligible projects in future years. The $2,266,465 drawdown of the Enterprise Fund is for capital projects to remedy
inflow and infiltration of the wastewater system, FM 156 utility relocations, construction of the Fairmont sewer rehabilitation phase 1,
and the relocation of utilities along the BNSF train tracks.

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