Page 12 - TownofWestlakeFY25BudgetOrd1005

FUND BALANCE
The combined ending fund balance is projected to be $4.4:
General Maintenance and Replacement Fund is projected to be $1.7M
General Vehicle Maintenance and Replacement Fund is projected to be $2.1M
Utility Vehicle Maintenance and Replacement Fund is projected to be $171K
Utility Maintenance and Replacement Fund is projected to be $360K

SPECIAL REVENUE FUNDS

Special Revenue Funds are comprised of the following: The Visitor Association Fund, the 4B Economic
Development Fund, Economic Development Fund, Local Public Improvement District, and the Lone Star Public
Fund.

REVENUES
Budgeted to be $3.6M, which is a 32% increase of $889K from prior year. This increase is a result of a projected
increase in sales and hotel occupancy taxes based on recent actual collection trends.

EXPENDITURES
Budgeted to be $2.7M, which is a 32% increase of $675K from prior year. Expenditures are increased mainly due to
scheduled debt payments, an economic development agreement, and rebalancing of allocations of personnel.

FUND BALANCE
The combined ending fund balance is projected to be $3.6M.
4B Economic Development Fund is projected to be $2.9M
Economic Development Fund is projected to be $0
Local Public Improvement District is projected to be $340K
Visitors Association Fund is projected to be $304K
Lone Star Public Fund is projected to be $15K

DEBT SERVICE FUNDS

Debt Service Funds are comprised of the following: Sales Tax-Backed Debt Service Fund, Ad Valorem-Backed Debt Service
Fund, and Utility-Backed Debt Service Fund. Prior to acquiring long-term debt, alternative financing sources are
explored before debt is issued, including the possibility for cash funding. Debt service is used to acquire major assets
with a useful life that equals or exceeds the debt issuance. Revenues are limited to transfers from the 4B Economic
Development Fund for sales tax-backed debt, transfers from the Utility Fund for utility-backed debt, and the interest
and sinking portion of the property tax rate for ad valorem-backed debt.

REVENUES
Budgeted to be $4.3M, which is a $734K increase from prior year solely due to the creation of the Utility Debt
Fund.

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