Page 86 - Watauga FY21 Budget

COMBINED SUMMARY OF REVENUES AND EXPENDITURES

ANALYSIS OF CHANGES IN FUND BALANCES

The following table briefly describes the impacts of the projected changes

in fund balances for the year, a total decrease of $14,406,919.

Beginning Ending
Fund Fund
Fund Balance Balance Difference Comments
General Fund $4,646,181 $4,644,292 ($1,889) Drawdown is primarily for one-time
equipment Projected ending fund balance
exceeds financial policy minimum target of
25%.
Strategic Initiative $53,828 $24,328 ($29,500) This fund is primarily for high-impact
Fund projects identified by Council. Drawdown is
for revitalization efforts in the City. This
fund is combined with General Fund for
reporting purposes.
W/S Utility Fund $1,314,081 $1,382,154 $68,073 Increase due to focus on building up
reserves. Ending fund balance is under
financial policy minimum target but plans to
increase reserves and ensure fund
sustainability will continue.
Economic $1,174,604 $1,419,160 $244,556 Increase due to shift of focus to Economic
Development Corp. Development. Fund balance to be used for
Sales Tax (formerly future projects. Ending fund balance
Parks Development) exceeds financial policy minimum target.
Crime Control $548,570 $495,920 ($52,650) Drawdown due to purchase of capital
District outlay, etc. Ending fund balance complies
with financial policy.
Storm Drain Utility $4,206,591 $2,572,899 ($1,633,692) Drawdown is due to Capital Projects
Fund identified in 5-year CIP. Ending fund
balance exceeds financial policy minimum
target.
General Capital $8,333,567 $1,487,067 ($6,846,500) Continuation of major capital projects,
Projects Fund Whitley Road street project, fire station
renovation and trails throughout the City.
W/S Constr. Fund $8,019,589 $2,809,179 ($5,210,410) Water/sewer projects to continue as
identified in CIP.
Internal Service $1,145,499 $715,385 ($430,114) Decrease in fund balance due to purchases
(Equipment Repl. using legacy funds this fiscal year.
Fund)
EDC Capital $43,347 $4,347 ($39,000) Economic Development project fund use of
Projects fund balance for contingency projects.
Library Donation $49,775 $45,175 ($4,600) No minimum target fund balance policy.
Fund
Street Maintenance $1,212,287 $908,000 ($192,000) Continued street maintenance projects.
Fund
Traffic Safety Fund $351,485 $2,135 ($349,850) Traffic signal enforcement system
elimination. To be covered in General Fund
in future.

78