Page 467 - Bedford-FY23-24 Budget
P. 467
Capital Improvements: One-year Plan
The City of Bedford Capital Improvement Program (CIP) is a process by which the City develops a plan for major
capital expenditures. CIP projects include improvements that are relatively expensive, non-recurring, have a
multi-year useful life, and result in xed assets. For example, the construction and acquisition of new buildings;
additions or renovations to existing buildings; construction and reconstruction of streets; improvements to
water, sanitary sewer, and drainage; and purchases of land and major equipment. Due to the nature and total
cost of most of the City’s CIP, General Obligation and Revenue Bonds and Certi cates of Obligation are major
sources of funding.
Departments submit their requests for projects annually during the budget process. City Management
reviews the requests and determines what will be included for funding in the proposed budget. The City
Council makes the nal determination on which projects will be included in the budget based on available
funding. Projects are reviewed based on need, priority from a study (if relevant) and funding availability.
Projects that are requested but unable to be included in the budget show a funding source of "unfunded,"
indicating their status, but leaving the need known in case funding becomes available in the current scal year.
Total Capital Requested
B14,593,010
15 Capital Improvement Projects
Total Funding Requested by Depar tment Total Funding Requested by Source
Administration (1%) $77,500.00 Certi cate of Obligation - Series 2015 (2%) $325,000.00
Fire (91%) $13,232,000.00 Certi cate of Obligation - Series 2021A (2%) $265,000.00
Parks (2%) $255,000.00 Future Debt Issuance (74%) $10,850,000.00
Police (1%) $120,510.00 General Fund (1%) $103,460.00
Streets (2%) $272,500.00 Park Maintenance Fund (1%) $130,000.00
Supply And Distribution (2%) $325,000.00 SIEDC - 4B Fund (0%) $7,500.00
Waste Water (2%) $310,500.00 Unfunded (20%) $2,911,650.00
TOTAL $14,593,010.00 TOTAL $14,592,610.00
The majority of items on the list of approved projects for FY 23-24 are equipment replacements or design work for
infrastructure replacements and as such have no impact on the operating budget.
City of Bedford, TX | Proposed Budget FY 2023-2024 Page 467
