Page 104 - Bedford-FY23-24 Budget

This governmental fund was established to have a pay-as-you-go maintenance fund
Parks Maint for the Parks in Bedford. This allows the accumulation of funds for larger
maintenance efforts that cannot be absorbed in the operating budget such as
Fund
playgrounds, water fountains, shade restructures, fencing and lighting.

Summary

City of Bedford, TX is projecting $56.5K of revenue in FY2024, which represents a 11.3% increase over the prior year. Budgeted
expenditures are projected to increase by 13.0% or $15K to $130K in FY2024.

Ongoing revenues remain above ongoing expenditures, with a budgeted draw down of reserves for one-time capital
purchases. The fund balance remains above policy reserve levels and is in line with best practices.

$150K

$125K

$100K

$75K
Ac tual Revenue Source
$50K Budgeted Revenue Source
Ac tual Expenditures
Budgeted Expenditures
$25K
$0
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024

Parks Maint Fund Comprehensive Summary

Name FY2021 Actual FY2022 Actual FY2023 Adopted Budget FY2023 Projected
Beginning Fund Balance: $208,527 $237,768 $262,645 $262,645
Expenditures
Contractual Services $0 $2,854 $0 $0
Supplies $840 $0 $0 $0
Maintenance $20,489 $13,179 $0 $41,000
Capital Outlay $0 $10,726 $115,000 $46,585
Total Expenditures: $21,329 $26,759 $115,000 $87,585
Total Revenues Less Expenditures: -$21,329 -$26,759 -$115,000 -$87,585
Ending Fund Balance: $187,197 $211,010 $147,645 $175,060

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 104