Page 143 - City of Watauga FY22 Adopted Budget

BUDGET-OVERVIEW

Water and Sewer Debt Service Fund

The Utility Fund debt service requirement for FY2021-2022 is $1,722,649 and will
be funded by a transfer from the Water/Sewer operating fund. The fund balance at
the end of the year is expected to be $6,544. Debt service is paid for those
issuances that fund wastewater improvements identified in the 5-year Capital
Improvement Plan.

Water and Sewer Capital Projects Funds

Total available resources are projected at $9,561,928 which includes remaining
proceeds from a debt issuance of $7.325 million that occurred in summer of 2017
to provide funding for various water and sewer infrastructure projects and the 2019
debt issuance of $8.390 million. These projects are currently underway and are
expected to be substantially completed at the end of FY2021-2022. Total
expenditures are budgeted at $7,025,201 and include the water and wastewater
projects that were identified and prioritized in the City’s 5-year Capital
Improvement Plan. An estimated $140,000 in estimated water and sewer main
repairs and maintenance is budgeted this year. The ending fund balance will be
$2,536,727 in this fund if the planned projects are completed by September 30,
2022. Unused funds will roll over to the next fiscal year until the projects are
completed. A possible 2022 debt issuance will be proposed for projects identified
to be funded in FY2022-2023.

134