Page 88 - KennedaleFY24AdoptedBudget

OVERVIEW: CAPITAL BOND FUND

The Capital Bond Fund (13) receives proceeds from bonds and records the project expense
associated with the bond proceeds. Projects in this fund are independent from those recorded
in the Water/Sewer Fund (10). In August 2023, Certificates of Obligation were issued for
projects related to water/sewer improvements and street improvements. From that, $2.4
million has been allocated to this Fund related to upcoming street repairs. Expenses related to
bond issuance and administration are included in the Debt Service Fund.

FUND 13 CAPITAL BOND
Account Description FY22 Actual FY23 Budget FY23 Est Actuals FY24 Budget

13-4401-00-00 INVESTMENT INCOME 55,809 24,000 165,000 173,250
13-4410-00-00 MISCELLANEOUS REVENUE - - - -
13-4904-00-00 2021 CERTIFICATES OF 6,143,296 - - -
TBD 2023 C/O Series A - - 2,400,000 -
TOTAL REVENUES $ 6,199,105 $ 24,000 $ 2,565,000 $ 173,250

Account Description FY22 Actual FY23 Budget FY23 Est Actuals FY24 Budget
13-5261-01-00 C.O. ISSUANCE COST 143,296 - 150,000
13-5550-01-00 STREET IMPROVEMENTS - 3,000,000 622,386 5,400,000
13-5850-08-00 TXDOT BRIDGE PROJECT 60,225 - 39,872 -
13-5851-09-00 SAFE ROUTES TO SCHOOL 5,164 - -
13-5854-10-00 COLLETT SUBLET 448 1,045,000
13-5859-11-00 VALLEY LANE 43,136 - 126,705 173,295
13-5867-11-00 AMBULANCE SUPPLIES/EQUIPMENT 42,741 500,000 -
13-5910-11-00 FIRE & POLICE VEHICLES 16,995 800,000 780,032 -
13-5911-11-00 NEW HOPE ROAD 210,812 -
TOTAL EXPENDITURES $ 311,555 $ 4,300,000 $ 1,780,254 $ 6,768,295

REVENUES OVER (UNDER) EXPENDITURES $ 5,887,550 $ (4,276,000) $ 784,746 $ (6,595,045)

NET CHANGE IN FUND BALANCE $ 5,887,550 $ (4,276,000) $ 784,746 $ (6,595,045)

BEGINNING FUND BALANCE — OCT 1 $ 2,170,389 $ 8,057,939 $ 8,057,939 $ 8,842,685
ENDING FUND BALANCE — SEPT 30 $ 8,057,939 $ 3,781,939 $ 8,842,685 $ 2,247,640

CITYOFKENNEDALE.COM/BUDGET 85