FY2016-17 Budget Final

DeSoto Economic Development Corporation Fund 195

This fund will begin FY 2017 with a FB of $2,583,770 and will end the year with a FB of $1,229,631, which represents a decrease of 52% in FB throughout the year. This decrease is due to Promotional/Admin/Grants/Prospect Development expenditures for the purpose of encouraging and enhancing economic development in DeSoto. These expenditures exceed sales tax revenues for the FY. Debt Service – Park Development Fund 347 This fund will begin FY 2017 with a FB of $115,050 and is projected to end the year with a FB of $112,850, which represents decrease of 2% in FB throughout the year. PUBLIC UTILITY FUNDS Public Utility Fund Fund 502 This fund will begin FY 2017 with a working capital balance of $8,690,240 and will end with a projected working capital balance of $9,446,008, which represents a 8.7% increase in working capital balance throughout the year. This change in working capital balance is due to a projected increase in Water & Sewer Sales Revenue, a slight increase in Water & Sewer Connection Revenue, and an across-the-board salary increase of 1% for all employees. Water Meter Replacement Fund Fund 503 The Water Meter Replacement Fund will begin FY 2017 with a FB of $242,263 and will end the year with a FB of $44,263, which represents an 81.7% decrease in FB throughout the year. This decrease is due to budgeted expenditures estimated at $567,000 in FY 2017 for the replacement of water meters throughout the City. Water/Sewer Equipment Replacement Fund Fund 504 This fund will begin FY 2017 with a FB of $122,658 and will end with a projected fund balance of $98,558, which represents a decrease of 19.6% in FB throughout the year. This decrease is due to the planned purchase of a Water/Sewer vehicle and related equipment. CIP - Water and Sewer Fund Fund 508 The CIP - Water and Sewer Fund, a capital projects fund, receives funding from the Public Utility Fund. In FY 2017 the CIP - Water and Sewer Fund will begin with a working capital balance of $5,853,678 and is projected to end with a working capital balance of $4,861,178, which represents a 17.0% reduction in working capital balance throughout the year. This

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