Page 15 - Watauga FY21 Budget
P. 15
BUDGET MESSAGE FOR FY 2020-2021
the retail market and emergence of on-line retailer and marketplaces has been
under way and is expected to continue.
o Changes adopted by the Texas State Legislature in their 86 th session in May,
2019 have impacted this budget and future budgets. Legislation impacts include
decreases in revenues due to franchise fee legislation and elimination of funding
for our traffic safety program. The traffic safety program expenses will be funded
one more year by the Traffic Safety Fund and then will be moved to the General
Fund to cover continued programming.
The City continues a long-term approach through various planning tools. These include
the following:
A Comprehensive Land Use Plan was adopted by City Council to be used as a
tool in the development of the City. As the City approaches full build out,
planning initiatives for re-development and improvement of certain aging
corridors in the City are of primary focus. The new land use added to the
Comprehensive Plan requires a zoning ordinance change to incorporate the new
land use as an approved zoning designation before any property rezones may
occur.
The Equipment Replacement Fund put into place a few years ago continues to
be assurance that certain equipment, technology, and vehicle needs will be met
in the future.
The Capital Outlay Plan provides for a 5-year format to identify timing of
replacement and sources of funding for major equipment, vehicles, and
technology City-wide.
5-year Capital Improvement Plan is a long range financial planning document
that revolves around several major street projects and water/sewer system
infrastructure projects as well as significant improvements to our storm water
drainage system. Various water and sewer infrastructure projects continue that
are funded by the 2017 Certificates of Obligation proceeds. The 2018
Certificates of Obligation proceeds fund street projects, parks improvements, and
building improvements throughout the City. Over the next several years, the
2019 Certificates of Obligation proceeds will fund water and wastewater projects
throughout the City and provide funding for various Capital Outlay items. The
2020 proposed debt issuance will provide funding for the Fire Station restroom
renovation, a restaurant incubator site project, street projects, parks facility
building improvements, and various capital outlay items.
The Parks Master Plan identifies various parks improvement projects
throughout the City of Watauga. Many of these projects are incorporated into
the 5-year Capital Improvement Plan with funding sources identified.
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