Page 62 - Bedford-FY24-25 Budget

A
m
4

d
e
e
n
FY2023
F
0
2
0
2
Y
2
d
m
e

A
e
d
n
d
F
Y
FY2024
FY2025
2
4
2
0
2
Name
N a m e F FY2022 2 F Y 2 0 2 3 FY2024 Amended F Y 2 0 2 4 F Y 2 0 2 5 FY2024 Amended
Y
P
r
o
e
u
d
g
j
d
Budgeted
Budget vs. FY2025
e
e
c
t
B
A c t u a l A c t u a l Budget t Projec ted B u d g e t e d B u d g e t v s . F Y 2 0 2 5
Ac tual
Ac tual
Budgeted (%
B u d g e t e d ( %
C
Change) )
h
g
e
n
a
Expense Objects
Personnel Services $204,130 $281,103 $181,962 $112,937 $179,274 -1.5%
Contractual $98,000 $585,082 $574,780 $560,498 $702,934 22.3%
Services
Supplies $15,332 $8,006 $22,800 $15,500 $27,300 19.7%
Maintenance $16,893 $46,430 $0 $360 $0 0%
Debt Service &
Transfers $122,953 $122,981 $297,830 $297,830 $297,830 0%
COVID & Misc $3,569 $0 $0 $0 $0 0%
Utilities $3,396 $0 $0 $0 $0 0%
Capital Outlay $170,862 $0 $0 $0 $260,000 N/A
Total Expense
$635,135 $1,043,602 $1,077, 372 $987,125 $1,467, 338 36 . 2 %
Objec ts:
Fund Balance
Due to the COVID-19 Pandemic, the City of Bedford has not held their traditional events during the past three scal years. FY
2021-2022 had record growth in the receipt of hotel occupancy tax collections. As the revenue source has a restricted use,
the fund balance has increased signi cantly during this period of low expenditures. While events are resuming, expenses
have not returned to pre-pandemic levels yet and continued increase in collections has resulted in fund balance growth.
Projections
$3.5M
$3M
$2 .5M
$2M
$1.5M
$1M
$500K
$0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Unassigned
City of Bedford, TX | Adopted Budget FY 2024-2025 Page 62