Page 590 - Bedford-FY24-25 Budget

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Street Improvement Economic Development Corporation
Proposed Budget
Fiscal Year Ending September 30, 2025

Actuals Actuals Actuals Projection Proposed
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue:
Sales Tax $ 3,366,104 $ 3,830,138 $ 3,975,292 $ 4,221,606 $ 4,306,038
Interest Income 10,387 26,395 181,738 246,076 196,861
Miscellaneous Income - - - - -
Other Governmental 100,000 - - - -
Auction Proceeds - 139,000 - - -
Total Revenue $ 3,476,491 $ 3,995,533 $ 4,157,030 $ 4,467,682 $ 4,502,899

Expenditures:
Supplies $ 25,274 $ 37,631 $ 37,327 $ 40,787 $ 41,008
Maintenance 449,418 138,839 160,264 188,013 139,470
Contractual Services 1,608,519 1,725,950 2,514,389 2,045,399 2,176,380
Debt Service - 662,508 665,620 664,311 667,925
Transfers 285,960 290,960 286,010 41,226 38,790
Contingency - 41,370 - - -
Capital Outlay 113,726 131,487 252,628 1,356,056 2,850,000
Total Expenditures $ 2,482,896 $ 3,028,744 $ 3,916,238 $ 4,335,792 $ 5,913,573

Revenues Over/(Under) Expenditures $ 993,595 $ 966,789 $ 240,792 $ 131,890 $ (1,410,674)

Beginning Fund Balance $ 2,943,948 $ 3,937,543 $ 4,904,332 $ 5,145,124 $ 5,277,014
Net Change in Fund Balance 993,595 966,789 240,792 131,890 (1,410,674)
Ending Fund Balance $ 3,937,543 $ 4,904,332 $ 5,145,124 $ 5,277,014 $ 3,866,340

Fund Balance Requirement - 663,580 663,580 663,580 663,337
Fund Balance Excess (Shortage) $ 3,937,543 $ 4,240,752 $ 4,481,544 $ 4,613,434 $ 3,203,003