Page 11 - TownofWestlakeFY25BudgetOrd1005

E ENTERPRISE FUNDS

Enterprise Funds are separate from other funds and accounts of the Town. Enterprise fund revenue is used to
support all operations of the enterprise activities. The Town’s Enterprise Funds include the Utility Fund and the
Cemetery Fund.

REVENUES
Budgeted to be $6.4M, which is statistically flat from the prior year budget. Cemetery sale revenues are projected
to increase $ 30K for this upcoming fiscal year due to a change in fees and hiring of a managing company. Utility
rates are held flat for the upcoming year.

EXPENSES
Budgeted to be $5.7M, which is a 7% decrease, or $457K, from prior year budget. Most of this decrease is attributed
to the turnover within Public Works and the need to build retained earnings back after the adjustments to account
for the debt issued for Hillwood infrastructure.

RETAINED EARNINGS
The combined ending working capital for Enterprise Funds is projected to be -$412K; this deficit ending balance is
the result of accounting adjustments required by the Town’s auditor and not an indication of insolvency or cash flow
issues.
The Cemetery Fund is projected to have an ending retained earnings balance of $348K
The Utility Fund is projected to have an ending retained earnings balance of -$759K

INTERNAL SERVICE FUNDS

Internal Service Funds are comprised of the following: General Maintenance and Replacement Fund, General
Vehicle Maintenance and Replacement Fund, Utility Maintenance and Replacement Fund, and the Utility Vehicle
Maintenance and Replacement Fund. These funds allow the Town to plan for major replacement and repair as the
Town’s assets age.

REVENUES
Budgeted to be $1.9M, which is an increase of $1.1M from prior year. This is mainly due to an increase in transfers
in that will fund vehicles in FY25.

EXPENDITURES
Budgeted to be $1.9M, which is a 75% increase, or $813K from the prior year. These expenditures consist of the
following:
Replacement Fire Engine ($1,300,000)
Replace Self-Contained Breathing Apparatus ($ 40,000)
Streets and Signage Maintenance ($ 50,000)
Information Technology Infrastructure Replacements at Town ($175,500) and Academy ($160,500) Facilities
Computer Replacement for Town Staff ($45,500)
Vac Trailer ($120,000)

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