PUBLIC IMPROVEMENTS FUND

About Public Improvements

The Public Improvements Fund is for streets capital projects and is primarily funded by 75% of the 0.4% county sales and use tax that is collected within the Town and shared back to the Town, as well as a 2.5% Town use tax on building construction materials. Streets capital projects include Town-constructed road and bridge additions, extensions and expansions, traffic signal installations and median landscaping.

Capital Projects Funds

FUND: Public Improvements Fund

Explanation Of Significant Budget Variances

2023 Adopted Budget vs. 2022 Projected Actual

• Use Tax and Roads Sales Tax Shareback for 2023 are in line with historical trends and therefore budgeted more conservatively than the 2022 projection.

• Traffic Control projects are decreasing in 2023 after most of the currently needed traffic lights were included in the 2022 budget.

• Streets Capital Improvements are increasing due to several large projects, including the Dransfeldt Roadway extension, which is being completed in partnership with Douglas County.

• The Fund Balance decreases $19.4 million (57.9%) due to the timing of capital projects. The Town is undertaking several major projects in 2023 due to available funding.