Page 272 - CityofMansfieldFY23Budget

Capital Projects Funds

On October 28, 2013, City Council adopted the Modified Long Range Financial and Capital Expenditure
Plan. Included in the plan were projected revenues and expenditures for operational costs, staffing costs
and major capital improvements identified by staff and supported by Management and City Council.
Typically, in February or early March as a kickoff meeting for the budget process, City Council and
Management representing every department participate in a strategic planning workshop over several
days to identify and prioritize major projects. Presentations and discussions occur, to include the debt
capacity of the various funds. The list of projects is refined throughout the budget process. In FY 2022-
2023, major projects are budgeted in various funds including Street Construction, Utility Construction,
Drainage Construction, Building Construction, Parks Construction, Economic Development Construction
and Equipment Replacement. Funding for these projects comes from a variety of sources, including but
not limited to, General Obligation Bonds, Revenue Bonds, Certificates of Obligation, Impact Fees,
Contributions, Grants, Fund Reserves and Intergovernmental Transfers. The total estimated capital
expenditures budgeted for capital projects in FY 2022-2023 is $106,967,122 and includes prior year
funding. General Obligation Bonds will be issued in FY 2022-2023 to fund some of these projects in
addition to impact fees, transfers from other funds, cash reserves, and potential contributions from Tarrant
County and the Texas Department of Transportation.

2022-2023 Capital Projects Funds
Equipment
5%
Streets
30%
Building
34%

Parks
5%

MEDC
<1%

Drainage Utilities
3% 23%

Funding Sources

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