Page 148 - CityofWataugaAdoptedBudgetFY25
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BUDGET SUMMARY
Transfers to the Debt Service Fund are included to cover debt service payments.
These payments increased by $225,000 this year due to the debt service for the
2024 Certificates of Obligation issuance for AMI Technology.
The fund is anticipated to be at the appropriate reserve level with the ending fund
balance expected to be $2,669,617 which is a 24% reserve level at the end of
FY2024-2025. The City’s reserve policy is to ensure a 25% reserve level in this
fund.
Fleet Interlocal Agreement Fund
In FY2019-2020, the City contracted with three surrounding cities to provide fleet
services. The City estimates revenues to be $151,000 and estimates expenses to
be at $97,900. Ending fund resources are projected at $177,994.
Water and Sewer Debt Service Fund
The Utility Fund debt service requirement for FY 2024-2025 is $2,076,166 and will
be funded by a transfer from the Water/Sewer operating fund and fund balance
reserves. The fund balance at the end of the year is expected to be $5,423. Debt
service is paid for those issuances that fund wastewater improvements identified
in the 5-year Capital Improvement Plan.
Water and Sewer Capital Projects Funds
Total available resources are projected at $6,124,921 which includes remaining
proceeds from the 2019 debt issuance for funding of various water and sewer
infrastructure projects and funds from the 2024 debt issuance for AMI
implementation. Total expenditures are budgeted at $5,971,450 and include the
water and wastewater projects that were identified and prioritized in the City’s 5-
year Capital Improvement Plan and the AMI project. The ending fund balance will
be $153,471 in this fund if the planned projects are completed by September 30,
2025. Unused funds will roll over to the next fiscal year until the projects are
completed.
Joint Use Facility Fund
The City of Watauga and City of North Richland Hills jointly maintain a transfer
station for water. A maintenance reserve of $60,000 per year is scheduled. These
reserves are transferred in annually from the Water/Sewer operating fund.
Reserves are used for pump replacements and other maintenance, as necessary.
Equipment Replacement Fund
This year the City enhanced the use of the Equipment Replacement Fund that had
been reduced in FY2021. The City maintains an equipment replacement fund for
use in the purchase of rolling stock, equipment, and facility needs such as HVAC
and roofing, and technology replacement with a minimum cost of $10,000 and a
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