Page 27 - Bedford-FY22-23 Budget

— In November 1997, the citizens of Bedford
Street Improvement Economic Development Corporation
approved an additional one-half of one percent sales tax for the purpose of economic development.
Speci cally, these funds are allocated to street and road improvements within the City of Bedford, along with
paying for the maintenance and operating expenses related to the projects. The City of Bedford Street
Improvement Economic Development Corporation was subsequently formed to administer the funds provided
by the additional sales tax revenue.
Budgeted revenue for the Corporation in FY 2022-2023 is $3,905,350 and budgeted expenditures
total $4,752,930. These expenditures include preventive maintenance contracting, supplies and capital
equipment. Expenses for the Corporation are approved by the Board of Directors and recommended to the City
Council for approval.

– This fund was created in FY 2021-2022 to account for the Tax Reinvestment Zone. The City
TIF Fund
participates in the zone at 75% of the incremental value, both Tarrant County and Tarrant County College
District participate at 50% of the incremental value. This fund accounts for the revenues and expenditures
associated with the zone.

Miscellaneous Special Revenue Funds
Fund — This fund accounts for monies collected under State Statute designed to provide
Cour t Security
security for the Municipal Court facilities. These funds are used speci cally to pay for a portion of the salary,
bene t and operating costs of two full-time bailiff/warrant of cers in the Municipal Court.

Truancy Prevention & Diversion Fund — This fund accounts for monies collected under the State Statute for
nancing the expenses of a juvenile case manager, including salary, bene ts, training, travel expenses, of ce
supplies, and other necessary expenses. This fund was established during FY 2019-2020.

Fund — This fund accounts for monies collected under the State Statute to fund juror
Municipal Jury
reimbursements. This fund was established during FY 2019-2020.
Fund — This fund is used for monies collected under State Statute designed to provide
Cour t Technology
increased technology for the Municipal Court facilities. These funds are used speci cally to pay for the
operating costs of the Municipal Court computer systems, audio-video system in the courtroom, and hand-
held electronic ticket writers used by the Police Department.
Fund — This fund is used for contributions from citizens designated for park improvements.
Park Donations
Speci cally, this donation is shown on utility bills, and citizens may voluntarily include the $0.50 donation when
making their utility bill payment. Typically, funding is authorized for improvements to various parks.

Fund — This fund accounts for revenue and expenditures related to various City-wide
Beauti{cation
beauti cation programs proposed by the City’s Beauti cation Commission. Annual revenue of $10,000 is
collected via a grant from Republic Services, designated speci cally for beauti cation projects within the City.

Commercial Vehicle Enforcement Fund — This fund accounts for the federal ne revenue generated from the
Commercial Vehicle Enforcement program. Until the fund reaches self-suf ciency, it will also receive a transfer
from the General Fund. Expenditures include the personnel and equipment to operate the program. The
program’s objective is to reduce commercial motor vehicle accidents through the enforcement of Motor Carrier
Safety Regulations and state laws regulating the weight of commercial vehicles.

Fund –This fund is used in conjunction with the City of Bedford Economic
Economic Development
Development Policy and Program and the City of Bedford Retail Center Revitalization Program (RCR). This fund
receives an annual transfer of $50,000 to be used by the City Council for incentives and payments related to
approved Economic Development agreements. Funding is authorized in the proposed budget for a
revitalization study and economic development incentive grants.
Fund — In 2011, the legislature passed SB 1087 allowing each
PEG (Public , Educational and Governmental)
local incumbent cable franchisee to terminate all its local franchises in cities of less than 215,000, if completed
by December 31, 2011. This action is also in compliance with SB 5 of the 2005 legislature, which transferred cable
franchising authority to the Public Utility Commission. Time Warner Cable exercised their option to terminate
its local franchise with the City of Bedford and opted into statewide franchising. In accordance with SB 1087, a
municipality must set up a separate PEG fund at the time of franchise termination to collect and account for

City of Bedford, TX | Adopted Budget FY 2023 Page 27