Page 108 - FY 2026-2027 Adopted Budget Book

EDC-4B Street Improvement Fund

In November 1997, Bedford voters approved a half-cent sales tax for the purpose of maintenance and
improvements of the street network, which is comprised of the roadways, curb and gutter, sidewalks, traffic
signals, lane and intersection markings, and street signs. This additional sales and use tax was authorized
under the provisions of Section 4B of the Industrial Development Corporation Act, which was recodified as the
Texas Local Government Code Chapter 505 by H.B. No. 2278 (2007, 80th Leg.).

Following approval of the tax levy, the Bedford Street Improvement Economic Development Corporation
(SIEDC) was created to direct and authorize all expenditures, with the City Council having final approval. The
SIEDC that is composed of seven directors (three residents of Bedford and four members of the City Council)
to oversee the financial expenditures, street network maintenance and improvements.

The EDC-4B Street Improvement Fund was created when the additional sales and use tax became effective in
April 1998.

Fund Summary

Ongoing revenues remain above ongoing expenditures, with a budgeted draw down of reserves for one-
time capital purchases.
Projected revenues total $4.5M, which represents a 1% increase over the prior year.
Budgeted expenditures, including one-time items, are projected to decrease by 32% to $4.5M in FY2027.

One-time expenditures include the purchase of inclement weather equipment and the engineering/design
of four projects:
Harwood Rd and Central Dr Signalized Intersection - $200,000
Harwood Rd and Murphy Signalized Intersection - $200,000
Rankin Drive Full Reconstruction & Improvements - $173,200
Shady Meadow Drive Full Reconstruction - $127,200
The construction phase for these projects will be included in the FY 2027-2028 proposed budget.

Ongoing expenditures total $3.8M, a 21% increase over the prior year.
The increase in ongoing expenditures is primarily due to moving the electricity costs for street lighting from
the General Fund and reinstating an annual transfer of $250,000 to the Economic Development Fund.

The fund balance remains above policy reserve levels and is in line with best practices.

$6M

Amount $4M Revenues

Expenditures
$2M

$0
FY 2024 Actuals FY 2025 Actuals FY 2026 Amended Budget FY 2026 Projection FY 2027 Proposed Budget
Fiscal Year
Data Updated: Sep 15, 2026, 9:54 PM View Report

FY 2026-2027 Adopted Budget Book · September 15, 2026 104