Page 128 - CityofHaltomFY23Budget

CITY OF HALTOM CITY ANNUAL BUDGET, FY2023 Capital Project Funds

CAPITAL PROJECTS FUNDS DESCRIPTION

The City of Haltom City develops a multi-year financial plan for all capital projects in conjunction
with the development of a multi-year operational plan. These capital improvement plans (CIP) are
developed during the budget process and are adopted by the City Council along with the proposed
operating budget.

Criterion for Selection and Budgetary Impact: Improvements to be included in the CIP are
selected and prioritized according to the critical nature of the project and the timeliness of available
financing for the project. The following operation impacts are considered:

• Demolition and salvage costs
• Changes in city-wide utility costs, maintenance costs and personnel costs

• Impact of regulatory compliance upon operations

• Impact of avoided costs
• Impact of deferred maintenance

All improvements completed in the CIP budget have a useful life that exceeds the life of the
financing. Capital equipment considered for inclusion in the CIP must have an initial acquisition
cost of at least $5,000 and a useful life of at least 2 years.

Sources of funding for the capital projects include:

• Reserve funds or carryover balances from prior years

• Current resources from operations
• 3/8 cents of sales tax for streets

• Grants and contributions

• Transfers from other funds
• Bond proceeds from tax and revenue supported debts

Funding for the FY2023 capital projects are from fund balances, transfers, sales tax, and
Certificates of Obligation issued for streets and parks.

Bond Developers'
Fund Capital Project Funds Sales Tax Interest Transfers Total
Proceeds Contributions
31 Street Reconstruction $2,967,039 100,000 $300,000 $3,367,039
32 Capital Improvements 35,000 600,000 34,809,361 35,444,361
35 Equipment Replacement 3,000 850,000 853,000
42 Water & Sewer Projects 60,000 7,400,000 7,460,000

44 Water & Sewer Impact Fees 10,100 - 425,000 435,100
46 Drainage Capital Projects 13,000 770,000 5,000,000 5,783,000
Total Revenues $2,967,039 $221,100 $9,620,000 $40,109,361 $425,000 $53,342,500
Use of Fund Balance -
Total Funding $53,342,500