Page 90 - BurlesonFY24AdoptedBudget

projects funds exclude those types of capital-related outflows
financed by proprietary funds or for assets that will be held in trust
for individuals, private organizations, or other governments.

4) Debt Service Funds Debt service funds are used to account for and
report financial resources that are restricted, committed, or assigned
to expenditure for principal and interest, even if it is being
accumulated for future years' payments. Debt service funds should be
used to report resources if legally mandated.

2) Ending fund balances of the City of Burleson shall be reported according to
the following classifications:

1) GENERAL FUND

2) DEBT SERVICE FUNDS RESTRICTED

3) SPECIAL REVENUE FUNDS RESTRICTED/COMMITTED

4) CAPITAL PROJECT FUNDS NON-BONDED - COMMITTED

3) CAPITAL PROJECT FUNDS BONDED – RESTRICTED Order of expenditure --
When committed, assigned and unassigned resources can be used for the
same purpose, funds shall be spent in the sequence of committed resources
first, assigned second, and unassigned last.

4) It is the goal of the City that the unassigned fund balance of the General Fund
should be at least 20% of the General Fund annual expenditures. This
percentage is the equivalent of 73 days’ expenditures. In order to adhere to
the principles of matching current revenues with current expenditures and
minimizing property taxes, the City will strive to maintain the fund balance if
the unassigned balance grows beyond 90 days’ expenditures.

5) The Water and Wastewater Fund working capital should be maintained at
least at 20% of total operating expenditures or the equivalent of 73 days.

6) It is the goal of the City that the fund balance of the 4A Corp and 4B Corp,
should maintain at least a 20% minimum of total operating expenditure or the
equivalent of 73 days.

C. CAPITAL AND DEBT SERVICE FUNDS

1) Items in the Capital Projects Funds will be completed and paid for within 36
months of receipt of proceeds. Balances will be used to generate interest
income to offset construction costs.

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