Page 140 - City of Watauga FY22 Adopted Budget

BUDGET-OVERVIEW

The American Rescue Plan Act Coronavirus Local Fiscal Recovery Funds (CLFRF)
provides funding to local governments to broadly respond to the COVID-19 public health
emergency. The funding covers COVID-19 related expenditures that were incurred
between March 3, 2021, and December 31, 2024. Two tranches of payments will be
made to local governments serving populations under 50,000. The City will receive a
total of $6.066 million in CLFRF funding over the next two years. The City received
$3.033 million in August 2021. The City Council and staff is currently developing a
spending plan for these funds based on the eligible spending categories which include
the purposes listed below:

➢ To respond to the public health emergency with respect to COVID-19 or its
negative economic impacts, including assistance to households, small
businesses, and nonprofits, or aid to impacted industries such as tourism,
travel, and hospitality;
➢ To respond to workers performing essential work during the COVID-19 public
health emergency by providing premium pay to eligible workers of the State,
territory, or tribal government that are performing such essential work, or by
providing grants to eligible employers that have eligible workers who perform
essential work;
➢ For the provision of government services to the extent of the reduction of
revenue of such State, territory, or Tribal government due to the COVID-19
public health emergency relative to revenues collected in the most recent full
fiscal year of the State, territory, or tribal government prior to the emergency;
or
➢ To make necessary investments in water, sewer, or broadband infrastructure.

Proprietary Funds

Storm Drainage Fund

A $11.00 fee per month per residential utility account was adopted through the Code of
Ordinances, to enhance drainage of properties within the City. Commercial accounts are
charged a uniform rate, but the amount charged is based on impervious area. The fee is
billed and collected through the Utility Billing Office and is 99.8% of the Storm Drain Utility
Revenues. Projections are based on the active accounts and rate charges. The last fee
review was conducted in FY2017-2018 resulting in the fee being reduced from $12.00
per month per residential utility account to $11.00 per residential utility account.

Total charges for services are forecast to be $1,480,000 for service charges, with total
revenues of $1,482,000. The operating expenditure budget is $718,125. This year,
$2,397,111 in capital projects are included in the budget to include the drainage portion
of Whitley Road Phase 2-4, and the Drainage Master Plan. The projected ending fund
resources will be $786,211 if all budgeted capital projects are completed.

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