Page 85 - Bedford-FY23-24 Budget

Name FY2021 Actual FY2022 Actual FY2023 Adopted Budget FY2023 Projected FY2023 Adopted Budget
vs. FY2024 Budgeted (%
Change)
Debt Service & Transfers $29,018 -$8,025 $0 $0 0%

Total Expense Objects: $38,270 $7,064 $17,000 $36,547 -100%

Fund Balance

Revenue in this fund is determined by the calculated tax rate for debt service payments. Expenses are regulated by the
debt service schedules for bonds and certi cates of obligation supported by property tax. Recent legislative changes have
impacted how property tax revenue is accounted for in regard to properties with a senior tax freeze. This has increased the
revenue for the debt service fund, which is captured in the following year's calculation.

Projections
$2M

$1.5M

$1M

$500K

$0
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Unassigned

FY2017 FY2018 FY2019 FY2020 % Change
— — — —
Fund Balance
Unassigned $973,557 $1,049,549 $1,087,072 $1,055,347 -2.9%

Total Fund Balance: $973,557 $1,049,549 $1,087,072 $1,055, 347 -2 .9%

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 85