Page 176 - CITY OF WATAUGA, TEXAS ANNUAL BUDGET PORTRAIT

EQUIPMENT REPLACEMENT FUND
Internal Service Fund – 22 Budget Summary

The Internal Service Fund is used to account for the acquisition of
various replacement capital items in the City. The objective of the
fund is to accumulate sufficient funds to meet the capital needs of the City. The fund is
accounted for on the modified accrual basis of accounting. Revenues are recorded when
available and measurable, and expenditures are recorded when the liability is incurred.

Beginning in the FY2013-2014 Budget Year, the use of the Equipment Replacement Fund was
enhanced for all the City one-time purchases for all funds. We have continued this commitment
this year and have evaluated prior year purchase equipment, vehicle, technology, and building
maintenance needs. We began funding a portion of these future needs in FY2014-2015 Fiscal
Year as the Legacy Program. Transfers for capital financing of major equipment purchases will
be made from funds on an annual basis based on the purchases made per fund.

BUDGET SUMMARY

2022-2023 2023-2024 2024-2025 2024-2025 2025-2026
Actual Actual Budget Projected Budget
Working Capital, October 1* $1,497,988 $2,056,120 $2,054,310 $2,054,310 $1,848,870
Revenues:
Total Revenue Charges for Service $87,660 $87,660 $137,660 $137,660 $137,660
Other Revenues:
Interest Income 75,951 110,783 65,000 75,000 65,000
Total Other Revenue $75,951 $110,783 $65,000 $75,000 $65,000
Transfers-In:
Total Transfers-In $550,000 $565,000 $385,000 $585,000 $346,000
Total Revenues $713,611 $763,443 $587,660 $797,660 $548,660
Expenditures:
Gain/Loss on Equipment 7,045 0 0 0 0
Other Equipment - CCD 0 0 0 0 0
Motor Vehicles & Equip W&S 0 0 45,000 39,700 106,000
Storm Drain Vehicles and Equip 0 0 20,000 20,000 0
Motor Vehicles - General Fund 0 0 0 0 0
Other Equipment - General Fund 12,960 29,000 28,300 0
Technology Replacement - GF 7,021 22,692 0 59,300 295,550
Technology Replacement - FIN 0 0 0 0 0
Other Equipment - Fire 0 (7,844) 230,800 230,800 0
Public Works Heavy Equipment 0 0 340,000 340,000 120,000
Furniture and Fixtures/Office Equip 0 0 0 0 0
Public Works Vehicles 0 175 230,000 230,000 0
Motor Vehicles - Parks 0 0 0 0 85,000
Recreation and Parks Equipment 0 0 0 0 35,000
Water Meter Program 0 24,572 25,000 25,000 0
Bldg/HVAC/Contingency 0 0 30,000 30,000 30,000
Depreciation Expense/Transfers Ou 294,042 312,962 0 0 0
Total Operating Expenditures $308,108 $365,517 $949,800 $1,003,100 $671,550
Operating Surplus/(Deficit) 405,503 397,926 (362,140) (205,440) (122,890)
Working Capital, September 30* * $2,056,120 $2,054,310 $1,692,170 $1,848,870 $1,725,980

*Adjusted to end of year to actual Working Capital

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