2013/14 Recommended Budget - City of St. George

serves as a fund for those claims not covered by our insurance. Assessments are
made to the various departments based on a formula of coverages. Estimated
expenditure for 2012-2013 is $475,000. 2013-2014 expenses are projected at
$495,000.
Review of Transit Operation Fund:
This fund is responsible for providing bus service to specified areas of the City.
Current service is 40 minutes. No route expansions are included, however, Ivins
City would like to establish a route and
further discussions will be held on this
possibility. The transfer from the
Transportation Improvement Fund to this
fund is proposed to increase from $350,000
to $500,000. There is a fund balance in this
account and the purchase of a new bus is
recommended.
Review of the Museum Permanent Acquisition
Fund:
Each year the Mayor and City Council appropriates funding for purchase of arts and
artifacts for the City’s permanent art collection. This account reflects spending
$15,550 in 2013-2014, leaving a balance of approximately $41,000.
Review of the Economic Development Fund:
This account is used to fund economic development activities in the City. $218,000
is recommended to be transferred to the Golf Course Fund. Also, $27,241 is
recommended to be transferred to the Airport Debt Service Fund to cover the cut
from the federal government for the Build America bond interest.
Review of Redevelopment Agency Fund:
This fund accounts for projects in the redevelopment area boundary which is
basically a fourteen block area from 500 East to 100 West on both sides of St.
George Blvd. and a few blocks along Tabernacle Street. Through interlocal
agreements with the School District, County and Water Conservancy District, the
Agency has been extended to 2015. Debt service for the bonds issued for the Town
Square will be $477,525 for 2013-2014. Revenues are projected to be down and
hopefully we can build a little more in our fund balance because debt service
increases significantly the last year of the bond repayment schedule in 2014-2015.
Review of the Dixie Center Economic Development Agency Fund:
This fund was created in 1997, expires in 2018, to allow tax increment to be
collected from development occurring around the Dixie Center. The amount of
increment was capped at $3,500,000. This revenue was used for land acquisition,
roadway improvements, and other infrastructure improvements which support
economic development in this area. The major expenditure recommended from this
fund is for debt service at $324,875.
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