Page 126 - CITY OF WATAUGA, TEXAS ANNUAL BUDGET PORTRAIT

ECONOMIC DEVELOPMENT CORPORATION
BUDGET SUMMARY - FUND 04

HISTORY PROJECTED YEAR BUDGET %CHANGE
2022-2023 2023-2024 2024-2025 2024-2025 2025-2026 FY2025-2026
Actual Actual Original Budget Projected Budget VS 2024-2025

Fund Balance, October 1* $1,733,255 $2,295,551 $2,863,864 $2,863,864 $3,241,124
Revenues:
Sales Taxes 952,990 955,520 996,000 976,000 993,000 -0.3%
Proceeds From Sale of Assets 0 0 0 0 0 0.0%
Interest Earnings 73,826 124,203 50,000 100,000 80,000 60.0%
License Agreement - Services 2,813 4,500 3,500 2,500 2,500 -28.6%
Operating Revenues $1,029,628 $1,084,223 $1,049,500 $1,078,500 $1,075,500 -0.8%

Total Available Resources $2,762,883 $3,379,775 $3,913,364 $3,942,364 $4,316,624

Expenditures:

Business Retention 3,783 3,791 56,650 56,650 31,650 -44.1%
Business Attraction 20,614 57,952 34,300 34,300 83,400 143.1%
General Administration 23,236 26,167 48,650 48,650 98,650 102.8%
Operating Expenditures $47,632 $87,910 $139,600 $139,600 $213,700 143.1%

Operating Transfers-Out
To General Fund 266,500 279,000 311,640 311,640 341,200 9.5%
To Internal Service Fund 0 0 0 0 0 0.0%
To EDC Construction Fund 0 0 100,000 100,000 0 -100.0%
To Debt Service 153,200 149,000 150,000 150,000 150,000 0.0%
Total Operating Transfers-Out $419,700 $428,000 $561,640 $561,640 $491,200 14.8%

TOTAL OPERATING & TRANSFERS $467,332 $515,910 $701,240 $701,240 $704,900 36.6%

Fund Balance, September 30 $2,295,551 $2,863,864 $3,212,124 $3,241,124 $3,611,724

CHANGE IN FUND BALANCE $562,296 $568,313 $348,260 $377,260 $370,600
*Includes debt service fund balance

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