Page 406 - FortWorthFY23AdoptedBudget
P. 406
Payments from Water and Sewer
Fund to Other Funds
Public Art funding shall be calculated in accordance with current City Code requirements and
developed through the City’s annual budget process. Since Texas law restricts the use of bond
proceeds to those projects eligible to be funded with water and sewer revenue bond proceeds,
any Public Art funding generated with bond proceeds MUST be used to finance water and
sewer system related public art projects.
For the purposes of cost recovery, Public Art funding shall be treated as an operating expense
of the Water and Sewer System. In any given year, the payment shall not exceed the calculation
described above.
The amount of the Public Art funding will be included in annual retail water and wastewater
cost of service studies performed by the Water Department and included in the annual operating
budget.
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