Utility Capital Improvements

FISCAL YEAR 2023

The Utility CIP Fund also has a significant fund balance made up of various sources. There are also restricted funds held in the fund balance in this fund.

• Utility Fund - All funds transferred from the General Fund are unrestricted. • Interest - Unless otherwise specified, interest earnings are unrestricted. • Impact Fees – Revenue from impact fees collected for water and sewer improvements are restricted to use on projects listed on the most recent water and sewer impact studies. • Developer Contributions - These are generally restricted to use on specific developments and most agreements result in any excess funds being returned to the developer.

The Utility Fund transfer to the Capital Improvement Program for the upcoming year will be $3,450,000. There will also be a transfer from the Water Impact Fund of $1,200,000 to begin the design of an elevated water storage tank on the northside of Highway 80. New projects for 2023 total $3,450,000. There were two projects added during Fiscal Year 2022 totaling $755,645 that were funded from the unobligated balance leaving $1,653,816 for future project needs. POTENTIAL GRANT FUNDING

The City is eligible for $6,748,698 from American Rescue Plan Act authorized by the federal government. The city will receive half of this money in Fiscal Year 2022 and the remaining funds in Fiscal Year 2023. Possible uses for these funds include water and sewer infrastructure. The City Council will determine how these funds will be allocated.