Page 56 - Bedford-FY24-25 Budget

Fund Balance

During FY 2021-2022, the City was presented with the opportunity to purchase a piece of property at the entrance of the
City. In order to have control of the future development of the property, the City Council elected to proceed with the land
purchase, using fund balance for the expense. This caused a signi cant decline in the fund balance, while still keeping it
above the 20% threshold required by the City's nancial policies. As part of the budget process, Council and Staff consider
the use of fund balance for one-time purchases. Included in the FY 2024-2025 budget are several one-time expenses that
utilize fund balance while remaining above the 20% threshold.

Projections

$20M

$15M

$10M

$5M

$0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Unassigned

%
Financial Summar y FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Change
— — — — — — — —
Fund Balance
Unassigned $6,987,995 $8,257,065 $12,442,040 $15,663,885 $8,436,311 $11,720,695 $12,130,781 $9,650,874 -20.4%

Total Fund $6 ,987,995 $8 , 257,065 $12 ,442 ,040 $15,663, 885 $8 ,436 , 311 $11,720,695 $12 ,130,781 $9,650, 874 -20.4%
Balance:

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 56