Page 32 - Burleson FY22 City Budget

Budget Overview

Proposed FY 2021‐2022 Budget

Fund Balance

The Fund Balance in the General Fund is estimated to be $13,258,072 at the end of FY 2021‐22.
This amount is $3,150,541 above the 20% minimum reserve amount established by Council
policy.

4A ECONOMIC DEVELOPMENT FUND
In 2001 the citizens of Burleson approved an additional one half of one percent sales tax to be
used for economic development. The City began collecting the ½ cent sales tax in December
2001. The Burleson 4A Economic Development Corporation was established to administer the
Type A EDC sales tax that is represented on the books of the City.

4B fund accounts for the receipt of sales tax revenue and expenditures including debt service
payments that are allowable under state regulations for 4A Economic Development
Corporations.

Revenues are projected to be $6,342,450 in the proposed FY 2021‐22 budget. Expenditures are
projected to be $4,491,582, including $1,990,375 debt service payment, in FY 2021‐22, an 8%
decrease from the FY 2020‐21 original budget. Proposed fund balance at the end of fiscal year
2022 is projected to be $4,293,876 or 95.60% fund balance percentage to expenditures, which is
way above the 20% fund balance requirement per the City’s financial policy.

4B COMMUNITY SERVICES DEVELOPMENT FUND
The citizens of Burleson approved an additional one half of one percent sales tax in 1993 to be
used to fund the construction and acquisition of municipal facilities and for other purposes
provided for by the enabling state statute.

The Special Revenue Fund accounts for the receipt of ½ cent sales tax revenue and expenditures
including debt service payments that are allowable under state regulations for 4B Community
Service Development Corporations.

Revenues in the Special Revenue Fund are projected to be $6,143,500 in FY 2021‐22, an increase
of 20.2% from the $5,111,473 estimated in the approved FY 2020‐21 budget. Expenditures are
projected to be $6,409,099, which includes $1,393,675 in debt service payments, in FY 2021‐22,
an 5.0% decrease from the $6,733,104 projected for the current year in the approved FY 2021‐
22 budget. 4B fund also transfer funds to the Parks Performance and Golf fund to subsidize their
operations. The proposed transfer for FY 2022 to Parks Performance fund is $2,715,418 and for
Golf Fund is $1,217,718 which includes $371,903 golf debt service payment.

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