Page 26 - City of Colleyville FY22 Adopted Budget

transfers from the general fund, to set aside funding for capital projects that are often
multi-year in nature and not appropriate for an annual operating budget.

The City drafts rolling five-year capital improvement plans (CIP) every year with the
budget process. Several funds house CIP-related expenditures, but the primary ones
involved are the Capital Projects Fund and the TIF Fund. The newly adopted CIP
includes over $90 million in projects over its life, and it will be updated each year.
With the City’s emphasis on being debt-free, all projects are cash-funded.

Capital Equipment Replacement Fund
The capital equipment replacement fund is an internal service fund to account for
funding for, and acquisition of, the City's vehicles, maintenance equipment, and
computer equipment. It is a governmental fund type and has no revenue source other
than transfers from other funds. The fund typically receives annual transfers and
serves as a savings account for vehicle and equipment replacement purchases.

Colleyville Tomorrow Fund
The Colleyville Tomorrow Fund is a capital projects fund used to account for proceeds
received on gas leases on city-owned property to be used for capital purchases.
Funds may be allocated at the discretion of the City Council.

Parks Tomorrow Fund
The Parks Tomorrow Fund is a capital projects fund used to account for proceeds
received on gas leases on city-owned parks property for parks capital projects.

Park Land Dedication Fund
The Park Land Dedication Fund is used to account for the acquisition of land for new
park sites and to make improvements to or expand existing parks to better serve
new development. Fees collected from platting of new residential and commercial
property funds the improvements.

CONCLUSION

The City is committed to ensuring that residents receive excellent value for their tax
dollars, with which staff is able to provide the programs, services, and infrastructure
investment that form the foundation of the quality of life in Colleyville. The fiscal year
2022 budget is presented with the commitment and confidence that it effectively
funds those priorities identified by the City Council. We look forward to working with
you to achieve all the goals set forth therein.

Jerry Ducay Mark Wood Adrienne Lothery

Jerry Ducay Mark Wood Adrienne Lothery
City Manager Assistant City Manager Assistant City Manager

26