Page 144 - CityofWataugaAdoptedBudgetFY25

BUDGET SUMMARY

Street Maintenance Fund

This fund was originally established on October 1, 2012, to account for ¼ cent sales tax
reallocated from the Parks Development Corporation, now the Economic Development
Corporation. At a special election on May 12, 2012, the voters approved this tax under
Section Chapter 327 of the Tax Code.

In November 2020 a measure was presented to voters to reallocate the ¼ cent dedicated
street maintenance sales tax to economic development. The voters chose not to
reallocate the tax and as a result, the street maintenance dedicated sales tax was
abolished effective January 1, 2021. The source of funding for streets will be cash flowed
from the general fund in future years. This fund will be closed out in FY2023-2024.

Crime Control and Prevention District Fund

The Watauga Crime Control and Prevention District (WCCPD) was established in March
1996 under Local Government Code Chapter 363 and reauthorized most recently on May
1, 2021, to account for a one-half sales tax to fund officers and purchase additional
equipment and supplies for law enforcement purposes. The fund is administered by a
Board of Directors, which is currently made up of the Mayor and all Council Members.

The sales tax represents 99% of total revenue for the WCCPD. Sales tax revenues
generated from this ½ cent sales tax are projected at $1,977,000, flat with prior year
budget. Total revenues are forecast to be $2,110,000. The FY2024-2025 operating
budget is $2,688,500 which includes $460,750 for equipment and replacement vehicles.
Ending fund balance is projected to be $930,194.

Library Donation Fund

Revenues represent donations made by customers as part of utility bill payment. Funds
are used to purchase additional library supplies such as books, audio and video,
periodicals, and other types of supplies. Projections are based on historical trend of
donations, which have declined in the last several years.

Estimated revenues received by donations for this fund are expected to be $6,000 and
make up approximately 98%of the Library Donation’s fund’s total revenues. The
proposed budget expenditure of $10,000 will leave an estimated ending fund balance of
$64,645.

PEG Fee Fund

This fund was created in FY2017-2018 to comply with SB1087 and to account for a 1%
PEG (public, educational or governmental) fee received from Cable Providers operating
in the City. Revenue estimates are conservative, and fees are estimated to be $24,000

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