Page 205 - Watauga FY22-23 Budget

STRATEGIC INITIATIVE FUND – FUND 13

The Strategic Initiative Fund was created in FY2014-15 to set aside funding for high-
impact projects identified by City Council. Funding is provided by fund balance
transfers of reserves in excess of the established policy. Examples of projects to be
funded are:

1) revitalization opportunities;
2) capital improvements cash funding, plans (Land Use, Comprehensive, CIP,);
3) community enhancement projects;
4) funding of other one-time projects.

This fund is accounted for on the modified accrual basis of accounting. Revenues are
recorded when the liability is incurred.

BUDGET SUMMARY

HISTORY CURRENT YEAR BUDGET
2019-2020 2020-2021 2021-2022 2021-2022 2022-2023
Actuals Actual Budget Projected Budget

Fund Balance, October 1 $136,328 $70,522 $40,722 $70,522 $70,722

Operating Transfers-In:
Transfers from General Fund 0 0 0 0 0
Interest 1,338 108 0 200 0
Total Available Resources $137,665 $ 70,629 $ 40,722 $ 70,722 $ 70,722
Expenditures:
Home Revitalization Program 34,122 0 30,000 0 30,000
Strategic Initiatives 33,022 5,313 0 0 0
Operating Expenditures 67,144 5,313 30,000 0 30,000

TOTAL OPERATING & TRANSFERS $67,144 $5,313 $30,000 $0 $30,000
Fund Balance, September 30 $70,522 $65,317 $10,722 $70,722 $40,722

CHANGE IN FUND BALANCE ($65,806) ($5,205) ($30,000) $200 ($30,000)

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