Page 86 - Bedford-FY25-26 Budget

This governmental fund is used to account for the revenue and expenditures related
to economic development related activities, particularly as they pertain to
agreements made through Chapter 380 of the Texas Local Government Code and the
City’s Economic Development Incentive Policy and Program.
Economic
Development
Under Chapter 380 of the Texas Local Government Code, the City Council is able to
Fund partner with local businesses using authorized tools, such as tax rebates, to provide
incentive packages for business recruitment and retention. This fund is used to
account for reimbursements upon veri cation of compliance with each agreement's
parameters.

Summary
City of Bedford, TX is projecting $90K of revenue in FY2026, which represents a 11.1% decrease over the prior year. Budgeted
expenditures are projected to increase by 284.8% or $284.76K to $384.76K in FY2026.

$500K

$400K

$300K

$200K Actual Revenue Source
Budgeted Revenue Source
Actual Expenditures
$100K
Budgeted Expenditures
$0
FY2023 FY2024 FY2025 FY2026

Economic Development Fund Comprehensive Summary

Name FY2023 Actual FY2024 Actual FY2025 Amended Budget FY2025 Projected FY2026 Budgeted
Beginning Fund Balance: $1,225,779 $1,183,342 $1,092,138 $1,092,138 $1,121,898
Revenues
Miscellaneous Income $52,247 $61,395 $51,246 $50,000 $40,000
Other Transfers In $300,000 $50,000 $50,000 $50,000 $50,000

Total Revenues: $352,247 $111,395 $101,246 $100,000 $90,000

Expenditures
Contractual Services $294,684 $202,599 $100,000 $70,240 $384,760
Capital Outlay $100,000 $0 $0 $0 $0

Total Expenditures: $394,684 $202,599 $100,000 $70,240 $384,760
Total Revenues Less Expenditures: -$42,437 -$91,204 $1,246 $29,760 -$294,760
Ending Fund Balance: $1,183,342 $1,092,138 $1,093,384 $1,121,898 $827,138

City of Bedford, TX | Proposed Budget FY 2025-2026 Page 86