Page 21 - PowerPoint Presentation

EXPENDITURES
Budgeted to be $2.38M; a 16% increase of $324K from prior year revised. Expenditures are increased
due to the correlation of anticipated increase in economic activity this upcoming fiscal year, thus
increasing the transfer out to debt service.

FUND BALANCE
The combined ending fund balance is projected to be $774K.

 4B Economic Development Fund 200 is projected to be $0
 Economic Development Fund 210 is projected to be $0
 Local Public Improvement District 215 is projected to be $372K
 Visitors Association Fund 220 is projected to be $136K
 Public Arts Fund 225 is projected to be $250K
 Lone Star Public Fund 418 is projected to be $14K

DEBT SERVICE FUNDS

Debt Service Funds are comprised of the Debt Service Fund 300 (revenue supported) and Debt Service Fund
301 (property tax supported). Prior to acquiring long-term debt, alternative financing sources are
explored before debt is issued. Debt service is used to acquire major assets with a useful life that equals
or exceeds the debt issuance. Transfers from 4B Economic Development Fund and the General Fund
comprise most of the debt service fund revenues.

REVENUES
Budgeted to be $2.76M; a $105K increase from prior year revised.

EXPENDITURES
Budgeted to be $2.87M; an increase of $178K from prior year revised.

FUND BALANCE
The combined ending fund balance is projected to be $0 for both funds.

WESTLAKE ACADEMY

The Westlake Academy Fund encompasses all teaching and extra-/co-curricular operating
expenditures as well as State public school funding, local funds, and private donations used to support
and enhance the daily operations of Westlake Academy. Westlake Academy operates under a shared
services model whereby the municipal operations team provides human resources, communications,
financial, facilities, information technology and administrative support services to the school. General
maintenance and replacement of infrastructure and equipment for the school is expensed to the
municipal budget.

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