Page 86 - Bedford-FY24-25 Budget

In November 1997, Bedford voters approved a half-cent sales tax for the purpose of
SIEDC - 4B maintenance and improvements of the street network. Following approval of the tax
Street levy, the Bedford Street Improvement Economic Development Corporation (SIEDC)
was created to direct and authorize all expenditures, with the City Council having
Improvement nal approval. The Council appointed a corporation that is composed of citizens and
Fund elected of cial to oversee the nancial expenditures, street network maintenance and
improvements. The street network is comprised of the roadway, curb and gutter,
sidewalks, traf c signals, lane and intersection markings, and street signs.

Summary

City of Bedford, TX is projecting $4.5M of revenue in FY2025, which represents a 3.8% increase over the prior year. Budgeted
expenditures are projected to decrease by 14.9% or $1.03M to $5.91M in FY2025.

Ongoing revenues remain above ongoing expenditures, with a budgeted draw down of reserves for one-time capital
purchases. The fund balance remains above policy reserve levels and is in line with best practices.

$8M

$6M

$ 4M
Ac tual Revenue Source
Budgeted Revenue Source
Ac tual Expenditures
$2M
Budgeted Expenditures

$0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

SIEDC - 4B Street Improvement Fund Comprehensive Summary

Name FY2022 FY2023 FY2024 Amended FY2024 FY2025
Ac tual Ac tual Budget Projec ted Budgeted
Beginning Fund Balance: $3,937,543 $ 4 ,904 , 332 $5,145,125 $5,145,125 $5, 277,015
Revenues
Sales Taxes $3,830,138 $3,975,292 $4,221,606 $4,221,606 $4,306,038
Miscellaneous Income $26,395 $181,738 $115,000 $246,076 $196,861
Other Governmental $139,000 $0 $0 $0 $0

Total Revenues: $3,995,533 $ 4 ,157,030 $ 4 , 336 ,606 $ 4 ,467,682 $ 4 ,502 , 899

Expenditures
Contractual Services $1,725,950 $2,514,389 $2,119,380 $2,045,399 $2,176,380
Supplies $37,631 $37,327 $31,800 $40,787 $41,008
Maintenance $138,839 $160,264 $140,620 $188,013 $139,470
Debt Service & Transfers $994,837 $951,630 $765,537 $705,537 $706,715

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 86