Page 266 - CityofMansfieldFY24Budget

Capital Projects Funds

On October 28, 2013, City Council adopted the Modified Long Range Financial and Capital Expenditure
Plan. Included in the plan were projected revenues and expenditures for operational costs, staffing costs
and major capital improvements identified by staff and supported by Management and City Council. Each
year the plan is updated to account for changes in priority, including citizens’ input, changes in the
economy, and financial feasibility. Typically, in February or early March, as a kickoff meeting for the
budget process, City Council and Management representing every department participate in a strategic
planning workshop over several days to identify and prioritize major projects. Presentations and
discussions occur, to include the debt capacity of the various funds. The list of projects is refined
throughout the budget process. In FY 2023-2024, major projects are budgeted in various funds including
Street Construction, Utility Construction, Drainage Construction, Building Construction, Parks
Construction, Economic Development Construction and Equipment Replacement. Funding for these
projects comes from a variety of sources, including but not limited to, General Obligation Bonds,
Revenue Bonds, Certificates of Obligation, Impact Fees, Contributions, Grants, Fund Reserves and
Intergovernmental Transfers. The total estimated capital expenditure budget for capital projects in FY
2023-2024 is $165,303,863 and includes carry-over projects with prior year funding. General Obligation
Bonds will be issued in FY 2023-2024 to fund some of these projects in addition to impact fees, transfers
from other funds, cash reserves, and potential contributions from Tarrant County and the Texas
Department of Transportation.

2023-2024 Capital Projects Funds

Equipment
4%
Building Streets
20% 25%

MEDC
<1%

Drainage
2%
Parks
11%

Utilities
38%

Funding Sources

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