Page 28 - City of Bedford FY22 Budget

E conom ic Dev elopm ent Fund –T his fu nd is u se d in conju nct ion wit h t he C it y of Be dford E conomic
De v e lopme nt Policy and Program and t he C it y of Be dford R e t ail C e nt e r R e v it alizat ion Program (R C R ).
This fu nd re ce iv e s an annu al t ransfe r of $50 ,0 0 0 t o be u se d by t he C it y C ou ncil for ince nt iv e s and
pay me nt s re lat e d t o approv e d E conomic De v e lopme nt agre e me nt s. Fu nding is au t horize d in t he
propose d bu dge t for a re v it alizat ion st u dy and e conomic de v e lopme nt ince nt iv e grant s.

P E G ( P ublic, E ducational and Gov ernm ental) Fund — In 20 1 1 , t he le gislat u re passe d SB 1 0 87 allowing
e ach local incu mbe nt cable franchise e t o t e rminat e all it s local franchise s in cit ie s of le ss t han 21 5,0 0 0 , if
comple t e d by De ce mbe r 31 , 20 1 1 . This act ion is also in compliance wit h SB 5 of t he 20 0 5 le gislat u re , which
t ransfe rre d cable franchising au t horit y t o t he Pu blic U t ilit y C ommission. Time Warne r C able e x e rcise d
t he ir opt ion t o t e rminat e it s local franchise wit h t he C it y of Be dford and opt e d int o st at e wide franchising.
In accordance wit h SB 1 0 87, a mu nicipalit y mu st se t u p a se parat e PE G fu nd at t he t ime of franchise
t e rminat ion t o colle ct and accou nt for t he PE G fe e , which goe s int o e ffe ct at t he t ime of t e rminat ion. The
PE G fe e is an addit ional 1 % of gross re v e nu e and can only be spe nt on capit al it e ms for t he local acce ss
channe l as de scribe d by fe de ral law. The PE G fe e is also re qu ire d of AT& T, as we ll as any fu t u re cable
prov ide r t hat may choose t o prov ide se rv ice in Be dford.

Maintenance Funds
Variou s fu nds we re e st ablishe d for spe ci{ c maint e nance pu rpose s. Monie s are de posit e d e ach { scal y e ar
in orde r t o accu mu lat e fu nding for capit al e qu ipme nt and large , infre qu e nt ly occu rring maint e nance
proje ct s. The se fu nds inclu de :
Aquatics Maintenance Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s re lat e d
t o t he maint e nance of t he C it y 's aqu at ic facilit ie s, cu rre nt ly R oy Sav age Pool at C e nt ral Park .
Facility Maintenance Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s re lat e d t o
t he maint e nance and minor e qu ipme nt of all C it y facilit ie s.
E quipm ent R eplacem ent Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s
re lat e d t o t he re place me nt of capit al e qu ipme nt , inclu ding t ru ck s, cars, ambu lance s, const ru ct ion
e qu ipme nt , e t c. This fu nd also re ce iv e s a t ransfe r from t he Ge ne ral Fu nd, Wat e r & Se we r Fu nd,
St ormwat e r Fu nd and St re e t Improv e me nt E conomic De v e lopme nt C orporat ion Fu nd t o cov e r t he
e x pe nse of t he le ase s for t he E nt e rprise Ve hicle R e place me nt program.
Water & Sewer Vehicle R eplacem ent Fund — This fu nd is u se d t o accou nt for de posit s and
e x pe ndit u re s re lat e d t o t he re place me nt of capit al e qu ipme nt , inclu ding t ru ck s, const ru ct ion
e qu ipme nt , e t c. for t he Wat e r & Se we r Fu nd.
C om puter R eplacem ent Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s re lat e d
t o t he re place me nt of compu t e rs, print e rs, soft ware , commu nicat ions e qu ipme nt , and any ot he r
it e ms ne ce ssary t o e f{ cie nt ly ope rat e t he C it y ’s commu nicat ions and t e chnology ne t work .
L ibrary Maintenance Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s re lat e d t o
t he long-t e rm maint e nance of t he Be dford Pu blic Library.
P ark Maintenance Fund — This fu nd is u se d t o accou nt for de posit s and e x pe ndit u re s re lat e d t o
t he long-t e rm maint e nance of t he C it y park sy st e m.

C apital Im prov em ent P rogram Highlights

R e qu e st e d C apit al improv e me nt s, inclu ding major maint e nance and e qu ipme nt re place me nt s can be
v ie we d in t he C apit al Improv e me nt s se ct ion. Fu nding sou rce s are ide nt i{ e d in t he de t ails of e ach
proje ct , wit h u nfu nde d u se d for proje ct s t hat are ne e de d, bu t hav e no approv e d fu nding sou rce at t his
t ime . C lick ing on t he proje ct name will bring u p addit ional de t ail on t he re qu e st , inclu ding fu t u re cost s.

C hanges between P ropos ed & Adopted Budget

Du ring t he discu ssions on t he propose d bu dge t , t he C it y C ou ncil re qu e st e d se v e ral change s prior t o
adopt ion. The bu dge t for t he { re work s at t he Fou rt h of Ju ly fe st iv al was incre ase d by $1 0 ,0 0 0 t o
cont inu e t o allow for large r she lls, prov iding a large r v ie wing dist ance . The C it y C ou ncil also re qu e st e d
t he Spe cial E v e nt s st aff salary and be ne { t s be split be t we e n t he Ge ne ral Fu nd and t he Tou rism Fu nd,
re su lt ing in an incre ase t o t he R e cre at ion bu dge t and a proport ional de cre ase t o t he Tou rism Fu nd

City of Bedford, TX | Budget Book 2022 Page 28