Page 10 - Pantego FY23 Budget

Expenditures incurred and proposed in this fund are for the supplies and cost of services incurred in
carrying out its mandate. The proposed Budget for the Shamburger fund remains unchanged from the
prior fiscal year. These funds are meant to be depleted.

Municipal Court Security Fund – This fund was created by the State Legislature to fund the security
and protection of the municipal court. This fund accounts for the cost of security for both the court room
and the court office. Revenue sources come from a portion of the fees collected on every infraction
adjudicated by the Town. Total revenues in this fund are estimated at $15,100 for FY 2022-2023.

Municipal Court Technology Fund – This fund was also created by the State Legislature to fund
improvements in technology in the municipal court system. Revenue sources for this fund are derived
from fees assessed, as provided by law, per conviction in the Town of Pantego. Municipal Court revenues
are estimated at $15,000 for Court fines and fees for FY 2022-2023.

CAPITAL PROJECT FUNDS

These sets of funds are used to report major capital acquisitions and construction projects. Capital
Project Funds include Street Improvement Fund, Capital Project/Equipment Replacement Fund, and a
Capital Project Fund tied to the issuance of the 2019 Certificates of Obligation.

Street Improvement Fund – This fund was established to account for a ¼ (.25) cent sales tax allocation
voted on by the citizens of Pantego every four years. The revenue is restricted by state statute to be used
for existing road improvements and maintenance. Sales tax is budgeted to be $376,159 a 10.6%
increase from the current fiscal year budget.

The repair and upgrade of the Town’s streets and roads continues to be a top priority of the Town Council
and staff.

The proposed Budget also includes a transfer out to the General Fund in the amount of $125,268 for the
cost of labor incurred by this fund.

Capital Project/Equipment Replacement Fund – This fund is used to account for acquisition of
equipment for various departments of the Town. It is also used to account for capital improvements for
the general government not currently funded through any other fund. This fund is entirely dependent on
cash inflows from the General Fund. Therefore, future capital expenditures will not be made if there is
an absence of transferable reserves from the General Fund. This fund will be used this year for the
acquisition of several new vehicles.

2019 CO Capital Project Fund - This Fund was established to account for the General Government
portion of projects planned for the funds received from the issuance of the 2019 Certificates of Obligation.
The projects funded by this fund are:

- The Nora Drive Storm Sewer Pipe Lining
- The Country Club Storm Sewer Pipe Lining

These projects are anticipated to be complete by the end of our current Fiscal Year (2022)

ADOPTED BUDGET FY2022-23 TOWNOFPANTEGO.COM/BUDGET PAGE 8