Page 226 - CityofWataugaAdoptedBudgetFY25

STRATEGIC INITIATIVE FUND 13

The Strategic Initiative Fund was created in FY2014-15 to set aside
funding for high-impact projects identified by City Council. Funding
is provided by fund balance transfers of reserves in excess of the
established policy. Examples of projects to be funded are:

1) revitalization opportunities;
2) capital improvements cash funding, plans (Land Use, Comprehensive, CIP,);
3) community enhancement projects;
4) funding of other one-time projects.

This fund is accounted for on the modified accrual basis of accounting. Revenues are
recorded when the liability is incurred.

Funds are transferred to General Fund – Development Services in Fiscal Year 2023-
2025.

STRATEGIC INITIATIVE FUND BUDGET SUMMARY

HISTORY PROJECTED YEAR BUDGET
2021-2022 2022-2023 2023-2024 2023-2024 2024-2025
Actual Actual Budget Projected Budget

Fund Balance, October 1 $65,317 $65,735 $35,735 $69,029 $41,529

Operating Transfers-In:
Transfers from General Fund 0 0 0 0 0
Interest 418 3,294 0 2,500 0
Total Available Resources $ 65,735 $ 69,029 $ 35,735 $ 71,529 $ 41,529

Expenditures:
Home Revitalization Program 0 0 0 0 0
Strategic Initiatives 0 0 0 0 0
Operating Expenditures 0 0 0 0 0

Transfer to General Fund 30,000 30,000 0

TOTAL OPERATING & TRANSFERS $0 $0 $30,000 $30,000 $0

Fund Balance, September 30 $65,735 $69,029 $5,735 $41,529 $41,529

CHANGE IN FUND BALANCE $418 $3,294 ($30,000) ($27,500) $0

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