Page 259 - CityofMansfieldFY25Budget

Capital Projects Funds

On October 28, 2013, City Council adopted the Modified Long Range Financial and Capital Expenditure
Plan. Included in the plan were projected revenues and expenditures for operational costs, staffing costs
and major capital improvements identified by staff and supported by Management and City Council. Each
year the plan is updated to account for changes in priority, including citizens’ input, changes in the
economy, and financial feasibility. Typically, in late January or early February, as a kickoff meeting for
the budget process, City Council and Management representing every department participate in a strategic
planning workshop over several days to identify and prioritize major projects. Presentations and
discussions occur, to include the debt capacity of the various funds. The list of projects is refined
throughout the budget process. In FY 2024-2025, major projects are budgeted in various funds including
Street Construction, Utility Construction, Drainage Construction, Building Construction, Parks
Construction, Economic Development Construction and Equipment Replacement. Funding for these
projects comes from a variety of sources, including but not limited to, General Obligation Bonds,
Revenue Bonds, Certificates of Obligation, Impact Fees, Contributions, Grants, Fund Reserves and
Intergovernmental Transfers. The total estimated capital expenditure budget for capital projects in FY
2024-2025 is $308,690,760 and includes carry-over projects with prior year funding. General Obligation
Bonds will be issued in FY 2024-2025 to fund some of these projects in addition to impact fees, transfers
from other funds, cash reserves, and potential grant funding.

2024-2025 Capital Projects Funds

Equipment Streets
2% 13%
Parks
5%

Utilities
23%

Building
55%

Drainage
2%

Funding Sources

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