Page 131 - CityofHaltomFY24Budget

City Of Haltom City Annual Budget, Fy2024 Capital Project Funds City Of Haltom City Annual Budget, Fy2024 Capital Project Funds

CAPITAL PROJECTS FUNDS DESCRIPTION Fiscal Year 2024 Capital Plan

The City of Haltom City develops a multi-year financial plan for all capital projects in conjunction
with the development of a multi-year operational plan. These capital improvement plans (CIP) are The total of the capital projects planned in the Capital Projects Funds for FY2024 is $53,517,128.
developed during the budget process and are adopted by the City Council along with the proposed A matrix of the FY2024 expenditures is listed below:
operating budget.

Criterion for Selection and Budgetary Impact: Improvements to be included in the CIP are Police Law
Vehicles /
selected and prioritized according to the critical nature of the project and the timeliness of available Fund Fund Equipment Streets Enforcemen City Hall Parks Water & Drainage Total
Sewer
financing for the project. The following operation impacts are considered: t Center
31 Street Reconstruction 5,320,000 $5,320,000
• Demolition and salvage costs 32 Capital Improvements 850,000 10,000,000 18,000,000 4,102,128 32,102,128
Equipment Replacement
35

850,000
• Changes in city-wide utility costs, maintenance costs and personnel costs 42 Water & Sewer Projects 10,355,000 10,355,000
44
Water & Sewer Impact Fees
160,000

160,000
46 Drainage Capital Projects 3,730,000 3,730,000
• Impact of regulatory compliance upon operations Total $850,000 $5,320,000 $10,000,000 $18,000,000 $4,102,128 $10,515,000 $3,730,000 $52,517,128
• Impact of avoided costs
• Impact of deferred maintenance Capital Expenditures and Impact on Operating Costs
All improvements completed in the CIP budget have a useful life that exceeds the life of the The City’s capital improvement projects primarily involve recurring expenditures, focusing on the reconstruction
financing. Capital equipment considered for inclusion in the CIP must have an initial acquisition and replacement of aging infrastructure in its matured urban environment, including streets, water, sewer
cost of at least $5,000 and a useful life of at least 2 years. systems, and facilities.
Sources of funding for the capital projects include:

• Reserve funds or carryover balances from prior years Notably, the completion of Fire Station #3 in 2022 and the relocation of the Senior Center to the newly renovated

• Current resources from operations North East Center incurred little to no impact on operating costs due to the absence of new staffing requirements.
However, the upcoming Law Enforcement Center and City Hall projects, initiated in 2022 and expected to be
• 3/8 cents of sales tax for streets completed in the next two years, pose considerations for increased operational costs. Future budgeting will

• Grants and contributions involve assessing maintenance agreements, utilities, janitorial services, and other factors associated with the
new facilities. While bond proceeds cover these projects, building expenses will span multiple budget years
• Transfers from other funds during construction phase.
• Bond proceeds from tax and revenue supported debts

Replacement of storm sewers, curb and gutters does not reduce the annual budget for maintenance. It does
Funding for the FY2024 capital projects are from fund balances, transfers, sales tax, General of allow these scarce dollars to be allocated to other projects for up to 15 years. Every mile of road in which the
Obligation and Certificates of Obligation issued for City Facilities and parks. City rebuilds the storm sewers, curb and gutter allows the City to shift nearly $40,000 in maintenance materials
and labor to other needed projects. Replacing worn and damaged water lines reduces lost water and increases
customer billing. Each 1% of lost water that is captured through capital outlay is worth about $90,000 at current
Bond Developers' commodity rates.
Fund Capital Project Funds Sales Tax Interest Transfers Total
Proceeds* Contributions
31 Street Reconstruction $3,500,000 118,486 $3,618,486
32 Capital Improvements 338,349 32,102,128 32,440,477
35 Equipment Replacement 9,054 850,000 859,054
42 Water & Sewer Projects 196,188 5,800,000 5,996,188
44 Water & Sewer Impact Fees 19,954 - 425,000 444,954
46 Drainage Capital Projects 20,531 200,000 220,531
Total Revenues $3,500,000 $702,562 $6,850,000 $32,102,128 $425,000 $43,579,690
Use of Fund Balance** 8,937,438.00
Total Funding $52,517,128
*Bond issued in previous years for the new Law Enforcement Center, City Hall and North Park.
**Use of fund balance for Streets, Water and Sewer, and Drainage Projects.