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ORDINANCE NO. 01-25 PAGE 4

REASON FOR ADJUSTING THE DEBT SERVICE FUND APPROPRIATION:

In the Debt Service Fund, revenues will increase by $1,955,000, from $5,900,170 to
$7,855,170. Expenditures will increase by $2,233,500 from $6,144,990 to $8,373,490. In
June 2024, the Town issued general obligation refunding bonds for the current refunding of a
portion of the Town’s tax supported bond issues, lowering overall debt service requirements.
The increase in revenue is due to the proceeds and the increase in expenditures is due to
the refunding payment to escrow. Additionally, the payment for the debt associated with the
bonds for the Dedicated Sales Tax – Parks 4B Fund were overlooked when the budget was
set. This amendment adds back in that budget authority.

Original Current Amended Increase /
General Debt Service Fund Budget Budget Budget (Decrease)

Revenues:
General Debt Service $ 5,900,170 $ 5,900,170 $ 7,855,170 $ 1,955,000
Total $ 5,900,170 $ 5,900,170 $ 7,855,170 $ 1,955,000

Expenditures:
General Debt Service $ 6,144,990 $ 6,144,990 $ 8,378,490 $ 2,233,500
Total $ 6,144,990 $ 6,144,990 $ 8,378,490 $ 2,233,500

REASON FOR ADJUSTING THE UTILITY FUND APPROPRIATION:

In the Utility Fund, 1 department requires budget adjustments. The budget for Non-
Departmental is being increased by $7,337,815 to account for the interdepartmental transfer
to capital projects in accordance with the financial policies. (These numbers are preliminary
and subject to audit adjustments.)

Original Current Amended Increase /
Utility Fund Budget Budget Budget (Decrease)
Expenditures:
Financial Services $ 2,003,798 $ 2,017,912 $ 2,219,112 $ 201,200
Non-Departmental Services 18,400,432 18,824,432 26,162,247 7,337,815
Public Works 39,551,854 39,825,967 39,624,767 (201,200)
Total $ 59,956,084 $ 60,668,311 $ 68,006,126 $ 7,337,815

REASON FOR ADJUSTING THE STORMWATER UTILITY FUND APPROPRIATION:

In the Utility Fund, one department requires a budget adjustment. Total Stormwater Utility
expenditures are above budgeted amounts due to the expenditures related to the storm
cleanup this spring. The total budget is being increased by $61,120 due to the unexpected
expenditures. (These numbers are preliminary and subject to audit adjustments.)

Original Current Amended Increase /
Stormwater Utility Fund Budget Budget Budget (Decrease)

Expenditures:
Public Works $ 1,628,485 $ 1,714,269 $ 1,791,949 $ 77,680
Environmental Services 98,643 98,643 82,083 (16,560)
Total $ 1,727,128 $ 1,812,912 $ 1,874,032 $ 61,120