Page 25 - CityofSaginawFY25Budget

anticipate revenues of $377,060 and expenditures of $257,285. Ongoing expenses
include books, data processing, and supplies for the Library; highway mowing, seasonal
planting and holiday decorations from beautification donations; and supplies for the
annual Fire Camp, and Easter Egg Hunt. Two summer library pages will continue to be
funded with library donations. Parks donations will fund a fireworks display.
Beautification donations will continue the public art program.

The General Government Escrow Fund was created in FY 2014-2015 to better track
funds that are received and are to be used for a specific purpose. These receipts will
remain in the General Government Escrow Fund until an appropriate expense is
approved by the City Council. Approved expenses include: advertising and
entertainment for the “Train and Grain” festival, police overtime expense for bailiff duty,
and insurance deductibles and repairs, a contract for Farmer’s Market administration, and
the replacement of 4 ticket writers.

The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track
impact fee funds that are received and are to be used for a specific purpose. These
receipts will remain in the escrow fund until an appropriate expense is approved by the
City Council. Funds are approved to be used for the Fort Worth meter station upgrade.

DEBT SERVICE FUND

Debt service requirements for outstanding certificates of obligation, tax notes, and general
obligation are $6,997,505. The adopted tax rate is sufficient to fund the required debt
service payments for the fiscal year.

CAPITAL PROJECTS FUND

The Capital Projects Fund consists of projects as recommended by our staff and
engineers and approved by the City Council. Funds are budgeted for voter approved
bond projects to replace the Library and Senior Citizens Center. Phase two and Phase
three of Knowles Drive is budgeted, also a voter approved bond project.

ENTERPRISE FUND

The total revenues projected for this fund are $16,324,755. Water rates will decrease by
2% due to the 2% decrease in the rate charged by the City of Fort Worth for the purchase
of water. This will go into effect on October 1, 2024. Wastewater rates will increase by
6% due to the 5.89% increase charged by Fort Worth. Projected revenue will be sufficient
to cover all projected operating expenses. Budgeted expenses total $17,589,310. The
budgeted use of funds will be used for capital projects including the Phase 2 of the
Fairmont Street 12” Sewer Rehab and 12” McLeroy Water Line Project. Funding is also
provided for improvements for the Park Center water facility to include a chloramine
booster and cathodic protection system.

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