AGENDA #2c(2)

 

BUDGET WORKING PAPER

 

TO:                  W. Calvin Horton, Town Manager

 

FROM:            Jim Baker, Finance Director

 

SUBJECT:       Fund Structure of the Budget and Source of Funds for Small Capital

                        Improvements Program

 

DATE:             May 17, 2000

 

 

The attached chart shows the overall fund structure of the proposed 2000-2001 Budget, including transfers between the various funds.

 

The bold, highlighted section shows the proposed sources of funding for the Capital Improvements Fund (CIP Fund) for 2000-2001, consisting of $300,000 from the Capital Reserve Fund (transferred from the General Fund last year) and $440,000 directly from the General Fund.  In addition, $43,000 would be available from cell tower revenues for a total of $783,000 in new money available for 2000-2001.

 

As presently proposed, the transfer of $250,000 from the General Fund to the Capital Reserve Fund for 2000-2001 would be reserved for the CIP fund for the future year, 2001-2002.