Page 242 - CityofWataugaAdoptedBudgetFY25

STREET MAINTENANCE – FUND 14

The Street Maintenance Fund was established in FY2012-2013 to
account for a ¼ cent sales tax approved by voters on May 12, 2012
for an initial four years effective October 1, 2012. The ¼ cent sales
tax was reauthorized by voters on May 2016 for another four years. The purpose of the
sales tax is to provide for the maintenance and repair of municipal streets in existence
at the time of the vote. The Watauga Parks Development Corporation sales and use
tax was reduced by ¼ of one percent effective October 1, 2012.

Street Maintenance sales tax was abolished by voters in November 2020.

STREET MAINTENANCE FUND 14 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 $1,501,910 $640,016 $63,016 $86,870 $0
Revenues:
Sales Taxes 0 0 0 0 0
Interest Earnings 6,335 25,667 0 0 0
Operating Revenues $ 6,335 $ 25,667 $ - $ - $ -

Total Available Resources $ 1,508,245 $ 665,682 $ 63,016 $ 86,870 $ -

Expenditures:
Asphalt Overlay 798,730 474,508 0 0 0
Street Maintenance 63,294 99,440 63,016 86,870 0
Debris Disposal 6,205 4,865 0 0 0
Operating Expenditures 868,229 578,813 63,016 86,870 0

TOTAL OPERATING & TRANSFERS $ 868,229 $ 578,813 $ 63,016 $ 86,870 $ -
Fund Balance, September 30 $640,016 $86,870 $0 $0 0

CHANGE IN FUND BALANCE ($861,895) ($553,146) ($63,016) ($86,870) $0

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