Page 36 - CityofSaginawFY25Budget

CITY OF SAGINAW

BUDGET HIGHLIGHTS

2024-2025

The equipment replacement for the General Fund will be accounted for in the General Escrow Fund. The
equipment replacement escrow began in FY 2018-2019. The annual contribution will be based on the useful life of
the purchased asset and the estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY 2018-2019 will be in the equipment replacement escrow, as long as the annual contribution is
made. The contribution for General Fund equipment in FY 2024-2025 is $102,945.

Revenues are budgeted at $469,000.

Budgeted expenditures include $10,000 entertainment for community events, $10,000 for advertising city events, a
transfer to the General Fund for court security (Bailiff $15,000), the cost of ticket writer software ($14,010),
$40,000 for Farmer’s Market administration, and insurance deductibles/repairs ($86,000).

The budget includes expenditure of PEG fees for hearing impaired equipment ($5,000) and a transfer of previously
collected developer contributions of $1,581,665 to the Capital Projects Fund for the construction of North Old
Decatur Road.

WATER/WASTEWATER ESCROW FUND

The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track funds that are received and to be
used for a specific purpose. The types of revenues budgeted in this fund include water impact fees.

The equipment replacement for the Enterprise Fund will be accounted for in the Enterprise Escrow Fund. The
equipment replacement escrow began in FY 2018-2019. The annual contribution will be based on the useful life of
the purchased asset and the estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY 2018-2019 will be in the equipment replacement escrow, as long as the annual contribution is
made. The contribution for Enterprise Fund equipment in FY 2024-2025 will be $36,215.

Impact fees will partially fund the West McLeroy 12” Water Line Replacement Phase 2.

BELTMILL PUBLIC IMPROVEMENT DISTRICT FUND

The Beltmill PID Fund was created in FY 2021-2022 to track funds that are received and to be used for a specific
purpose and as outlined in the Service Assessment Plan.

PID assessments are estimated to be $496,285. Administrative expenses are budgeted to be $23,950.

The developer reimbursement expense outlined in the Service Assessment Plan is $472,340.

The fund balance at year end is estimated to be $80,227.

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