Page 11 - PantegoFY24AdoptedBudget

Water Infrastructure Fund – This fund was created in Fiscal Year 2011-12 (Ordinance 12-687) by the
Town Council under the advice of the Town’s Ad-hoc Water Committee. The objective of the fund is to
generate revenue from the water sales by applying a specific charge that is based on the amount of water
each customer consumes and use it to pay for the water and sewer infrastructure projects identified by
the water study commissioned by the Town Council. Revenue from Infrastructure fees are projected at
$801,281. There is one expense item in the fund for $100,000. The infrastructure fee will also be
increased to provide for the Water and Sewer Department’s portion of Debt Service for the 2023
Certificates of Obligation. A transfer will be made from this fund to the Debt Service in the amount of
$467,660.

SUMMARY & CONCLUSION

Municipal government exists for one reason: to organize and deliver the best service possible with the
resources available, to provide a safe, high quality of life to its citizens. This year’s Budget represents a
collective effort by the Town Council and the Town Staff to meet that challenge. This Budget is more than
a financial document, it is a policy document that lays the groundwork for a continuation of current
services and stabilizes the future financial position to carry on the Town’s duties and responsibilities,
while meeting the goals and objectives of Town Council. The Town Staff will continue to work to review,
evaluate and innovate to improve service delivery and be good stewards of the Town’s resources.

To that end, it is important to identify what the Town will be able to accomplish with this next fiscal year’s
Budget:

o Maintenance of current service levels.
o Remaining competitive with nearby communities by market adjusting employee
compensation.
o Water, Sewer, and Infrastructure rates will be set to ensure the financial stability of
the utility system.
o Funding of prioritized capital projects and equipment replacements.
o Continuation of the Street Improvement Program.
o Continuation of the Water System Master Plan Projects.

I want to express my gratitude to all Staff members who participated in the Budget process and the Town
Council for volunteering their time to serve their community and providing continued leadership to make
the Town of Pantego a great place to call home.

Sincerely,

Joe Ashton
City Manager

ADOPTED BUDGET FY2023-24 TOWNOFPANTEGO.COM/BUDGET PAGE 9