Page 81 - Bedford-FY24-25 Budget

2
0
F
F
FY2024 Amended
FY2024
2
FY2023
Name
Y
FY2024 Amended
N a m e FY2022 2 F Y 2 0 2 3 F Y 2 0 2 4 A m e n d e d F Y 2 0 2 4 FY2025 5 F Y 2 0 2 4 A m e n d e d
2
Y
2
0
P
Budget
Ac tual
e
t
d
Budget vs. FY2025
Budgeted
o
r
j
c
e
Ac tual
A c t u a l A c t u a l B u d g e 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
e
t
B
g
d
u
(
%
Budgeted (%
e
d

C h a n g e )
Change)
Expense Objects
Contractual $15,088 $25,052 $14,108 $14,108 $25,000 77.2%
Services
Debt Service & $7,147,438 $6,642,548 $8,040,410 $8,040,410 $8,581,530 6.7%
Transfers
Total Expense
$7,162 ,526 $6 ,667,600 $8 ,054 ,518 $8 ,054 ,518 $8 ,606 ,530 6 .9%
Objec ts:
Fund Balance
Revenue in this fund is determined by the calculated tax rate for debt service payments. Expenses are regulated by the
debt service schedules for bonds and certi cates of obligation supported by property tax. Recent legislative changes have
impacted how property tax revenue is accounted for in regard to properties with a senior tax freeze. This has increased the
revenue for the debt service fund, which is captured in the following year's calculation.

There is a one-time draw-down of excess fund balance in the FY 2024-2025 budget.
Projections
$2M
$1.5M
$1M
$500K
$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 $1,049,549 $1,087,072 $1,055,347 $1,093,161 $1,557,823 $775,845 $670,762 $305,009 -54.5%

Total Fund Balance: $1,049,549 $1,087,072 $1,055, 347 $1,093,161 $1,557, 823 $775, 845 $670,762 $305,009 -54 .5%

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 81