Page 77 - Bedford-FY24-25 Budget

Interest & This governmental fund is used to account for the accumulation of resources for the
payment of general long-term debt principal, interest, and related costs from the
Sinking Fund taxes levied by the City. Bonds used by a government to nance major construction
(Debt Service) projects, to be paid by tax levies over a period of years, require a debt service fund to
account for their repayment.
Summary

City of Bedford, TX is projecting $8.24M of revenue in FY2025, which represents a 2.4% increase over the prior year. Budgeted
expenditures are projected to increase by 6.9% or $552.01K to $8.61M in FY2025.

$10M

$7.5M

$5M
Ac tual Revenue Source
Budgeted Revenue Source
Ac tual Expenditures
$2 .5M
Budgeted Expenditures

$0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Interest & Sinking Fund (Debt Service) Comprehensive Summary

Name FY2022 FY2023 FY2024 Amended FY2024 FY2025
Ac tual Ac tual Budget Projec ted Budgeted
Beginning Fund Balance: $1,093,161 $1,557, 823 $775, 845 $775, 845 $670,762
Revenues
Property Taxes $7,600,163 $5,807,674 $7,997,620 $7,841,610 $8,154,515
Miscellaneous Income $12,342 $77,949 $50,000 $107,826 $86,261
Other Transfers In $10,417 $0 $0 $0 $0
Other Financing Sources $4,265 $0 $0 $0 $0

Total Revenues: $7,627,187 $5, 885,623 $8 ,047,620 $7,949,436 $8 , 240,776

Expenditures
Contractual Services $15,088 $25,052 $14,108 $14,108 $25,000
Debt Service & Transfers $7,147,438 $6,642,548 $8,040,410 $8,040,410 $8,581,530
Total Expenditures: $7,162 ,526 $6 ,667,600 $8 ,054 ,518 $8 ,054 ,518 $8 ,606 ,530
Total Revenues Less
$ 464 ,661 -$781,978 -$6 , 898 -$105,082 -$365,754
Expenditures:
Ending Fund Balance: $1,557, 823 $775, 845 $768 ,947 $670,763 $305,008

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 77