Page 57 - CityofForestHillFY25AdoptedBudget

Summary Grant Funds

The City has various grant funds, some of which have other deferred revenue booked as a liability
on the balance sheet that is pledged for future obligations related to the grants. The opioid
settlement is a newly received grant for which the funds must be spent on opioid remediation
efforts with at least 70% spent on prospective opioid-related expenses, including expanding
access to treatment and buying the overdose reversal medication naloxone and only 15% can be
spent for administrative expenses. The funds should be spent to save lives, use evidence to direct
spending, invest in youth prevention, focus on racial equity, and develop a fair and transparent
process for deciding how to spend the funds.

Summary Community Development Corporation Fund

The Community Development Corporation (CDC) is a component unit of the City of Forest Hill. The City
serves as a fiduciary for the CDC funds. This corporation provides opportunity for growth and improving
the quality of life within the City through the initiation of various economic development programs.

The Community Development Corporation Fund is a special revenue fund receives sales tax
revenues which are restricted by State Law for community and economic development. The funds
are administered by the Community Development Corporation Board appointed by the City
Council.

The Community Development Corporation Fund transfers funds to the Debit Service Fund to
provide 100% of the annual debt service payment requirements for the Series 2014 general
obligation refunding bonds. This bond issue will be fully paid in 2025.

Summary Capital Type Funds

Several of the Special Funds are related to capital items, as identified below. The street
improvement fund accounts for the use of sales tax that is restricted for the use of street repairs
and maintenance in the City. The fund also provides
resources for the Streets-CIP Program via budgeted inter-
fund transfer to the capital projects fund. The Wichita
Street Improvement Fund received funds from the City of
Fort Worth beginning in fiscal year 2023 for a joint street
widening project, the terms of which are specified in an
inter-local agreement. The Community Benefit Fund and
Tree Mitigation fund receive funds from developers for
specific purposes identified in the development
agreement or City ordinance.

54 of 84