Page 260 - CityofWataugaAdoptedBudgetFY24

PROPRIETARY FUNDS

FLEET INTERLOCAL – FUND 21

The Fleet Interlocal fund was established during FY2019-2020 when Council approved
a resolution to provide vehicle maintenance services for surrounding government
entities.

The Interlocal agreement between the City and entities allows Watauga to provide
vehicle maintenance services for a defined fee. This was established in an effort to
achieve common objectives relating to the services regarding vehicle maintenance and
in the interest of saving taxpayer funding.

Each year the rate schedule set forth in the agreements shall increase per the
Consumer Price Index for All Urban Consumers (CPI-U).

FLEET INTERLOCAL FUND BUDGET SUMMARY

HISTORY PROJECTED YEAR BUDGET
2020-2021 2021-2022 2022-2023 2022-2023 2023-2024
Actual Actual Budget Projected Proposed

Fund Balance, October 1 ($939) $14,552 $43,752 $53,471 $57,971
Revenues:
Other Revenue 68,677 90,503 105,000 100,000 110,000
Interest Earnings 0 0 0 0 0

Total Revenues $68,677 $90,503 $105,000 $ 100,000 $ 110,000

Total Available Resources $67,738 $105,055 $148,752 $ 153,471 $ 167,971

Expenditures:
Personnel 8,982 10,774 25,000 15,000 15,000
Supplies 40,752 35,997 55,000 75,000 75,000
Maintenance 3,452 4,814 5,500 5,500 5,500
Expenditures $53,186 $51,585 $85,500 $95,500 95,500

TOTAL EXPENDITURES $53,186 $51,585 $ 85,500 $ 95,500 $ 95,500

Fund Balance, September 30 $14,552 $53,471 $63,252 $57,971 $72,471

CHANGE IN FUND BALANCE $15,491 $38,918 $19,500 $4,500 $14,500

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