Page 54 - Bedford-FY22-23 Budget

Name FY2020 FY2021 FY2022 Projected FY2022 Adopted FY2023 Adopted FY2022 Adopted
Actual Actual Actual Budget Budget Budget vs. FY2023
Adopted Budget
(% Change)
Contractual $2,974,461 $3,822,624 $4,844,860 $4,589,677 $5,405,785 17.8%
Services
Supplies $1,161,402 $1,563,154 $1,878,975 $1,520,905 $1,592,165 4.7%
Maintenance $1,084,897 $1,002,813 $1,332,008 $1,117,290 $1,094,160 -2.1%
Debt Service & $1,411,648 $1,174,809 $1,263,015 $1,262,460 $1,264,800 0.2%
Transfers
COVID & Misc $3,463 $335,740 $105,167 $0 $0 0%
Utilities $707,402 $622,308 $796,472 $960,420 $814,520 -15.2%
Capital Outlay $56,681 $93,300 $8,649,673 $227,550 $32,000 -85.9%
Total Expense
$32,650,651 $36,571,514 $48,505,957 $39,833,293 $42,737,100 7.3%
Objects:

Fund Balance

During FY 21-22, the City was presented with the opportunity to purchase a piece of property at the entrance of the City. In
order to have control of the future development of the property, the City Council elected to proceed with the land purchase,
using fund balance for the expense. This caused a signi cant decline in the fund balance, while still keeping it above the
20% threshold required by the City's nancial policies.

Projections

$20M

$15M

$10M

$5M

$0
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022
Unassigned

FY2016 FY2017 FY2018 FY2019 FY2020 % Change
— — — — —
Fund Balance
Unassigned $6,120,699 $5,761,990 $6,987,995 $8,257,065 $12,442,040 50.7%

Total Fund Balance: $6 ,120,699 $5,761,990 $6 ,987,995 $8 , 257,065 $12 ,442 ,040 50.7%

City of Bedford, TX | Adopted Budget FY 2023 Page 54