Page 16 - CITY OF AZLE, TEXAS

Utility Fund

Revenues

Total Utility Fund revenues of $10,763,636 have been projected for FY 2023-24. This reflects
an increase of $896,074 over the FY 2022-23 budget. The water and sewer rates are proposed
to remain unchanged for FY 2023-24.

Expenses

Total expenses for the Utility Fund are projected at $10,409,562. The transfer to the General
Fund totals $903,798. Total operating expenses for FY 2023-24, excluding debt service, have
been proposed at $9,142,172. The fund has a projected ending working capital of $4,030,948.

Golf Course Fund

Revenues

Total revenue for FY 2023-24 is projected at $1,964,500. This amount is based on a projected
40,000 rounds of golf played. Fee increases are proposed and will be presented under
separate cover. The above projected revenue does not include any funds derived from gas
leases at the golf course.

Expenses

Golf Course Fund expenses are projected at $2,052,586, which is an increase of $409,179
(24.9%) above the FY 2022-23 budget. This increase is mainly attributable to increased golf
play. But there is also driving range renovation project which will be funded and performed over
two (2) fiscal years, as well as several pieces of equipment and a kitchen renovation. In
addition, there have also been outstanding debts to the General Fund and Utility Fund of
$452,616 and $365,754, respectively, for over 25 years. This year will be the third year of a 4-
year reimbursement plan which calls for transfers to each fund in the amounts of $110,000 and
$90,000, respectively.

Stormwater Utility Fund

Stormwater revenue is projected at $572,500. Expenses are projected at $335,556 and debt
service of $49,432 with a transfer to the General Fund of $174,583.

Special Purpose Funds

Special Purpose Funds are used to account for resources associated with a specific purpose
and include the Street Maintenance Fund, Court Security Fund, Court Technology Fund,
Hotel/Motel Tax Fund, and the Cable PEG Fee Fund. Other Special Purpose Funds of the City
include the Crime Control and Prevention District Fund and the Municipal Development District
Fund. However, these budgets for these funds are prepared and adopted separately from this
budget.

Revenue in the Street Maintenance Fund is projected at $800,000. The projected revenue,
added to the projected beginning balance of $737,464 provides $1,537,464 for projects in the
coming year. Street Maintenance Fund expenditures are projected at $1,401,000 for the

City of Azle FY 2023-2024 Budget 6