Page 33 - BurlesonFY24AdoptedBudget

Revenues are projected to be $10,359,138 in the adopted FY 2023-24 budget.
Expenditures are projected to be $9,113,818, including $2,757,636 debt service
payment, in FY 2023-24. The proposed fund balance at the end of the fiscal year
2024 is projected to be $6,417,450 or 70.41% fund balance percentage to
expenditures, which is well above the 20% fund balance requirement per the city’s

financial policy.

4B COMMUNITY SERVICES DEVELOPMENT FUND

The citizens of Burleson approved an additional one-half of one percent sales tax
in 1993 to fund the construction and acquisition of municipal facilities and for other
purposes provided for by the enabling state statute.

The Special Revenue Fund accounts for the receipt of half-cent sales tax revenue
and expenditures, including debt service payments that are allowable under state
regulations for 4B Community Service Development Corporations.

Revenues are projected to be $7,724,397 in the adopted FY 2023-24 budget.

Expenditures are projected to be $8,080,943, including $2,224,218 debt service
payment, in FY 2023-24. The projected fund balance at the end of the fiscal year
2024 is anticipated to be $4,247,975 or 52.57% fund balance percentage to
expenditures.

4B fund also transfers funds to the Parks Performance and Golf fund to subsidize

their operations. The proposed transfer for FY 2024 to the Parks Performance fund
is $3,453,234 and for Golf Fund is $1,230,004 which includes a $371,032 golf debt
service payment.

PARKS PERFORMANCE FUND
The Parks Performance Fund is budgeted for revenues and expenditures of

$5,660,284 to net a zero fund balance. A transfer of $3,453,234 is proposed from
the 4B Fund to cover operational expenses in FY 2023-24. The Burleson Recreation
Center (BRiCK), Athletics, and Russell Farm Art Center revenues are budgeted to be
a combined $2,207,050 for these programs. The operating revenues are expected
to cover 39.0% of fund expenses in FY 2023-24.

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