Adopted Budget FY 2018-2019

P.D. Seized Fund
The P.D. Seized Fund was established to account for the deposit and use of confiscated monies seized by the Police
Department. The revenues will be used for the enhancement of the Police Department, previously accounted for in the
General Fund.
This year, the P.D. Seized Fund will have no appropriated activity this fiscal year with a fund balance of $3M.
Downtown Services Fund
The Downtown Services Fund was established to account to account for the parking meter fees and parking fines, as well as
the activities associated with downtown services, includes operation of a new parking garage.
Revenues are estimated at $1. 3M, remaining constant from last year’s budget. This year’s budgeted expenditures
will have remained the same as last years. Provision has been made to reimburse, by transfer, $237K to the
General Fund.
Drainage Fee Fund
The Drainage Fee Fund was established to account for the resources received under Ordinance 2018-02 for
providing improvements that relate to a stormwater management system within the corporate City limits.
Revenues are estimated at $1.2M with improvements to be undertaken in the amount of $1.8M. Five projects
have been budgeted as listed on page 121. The difference in amounts is attributed to the fund balance of $30K.
DEBT SERVICE FUNDS
Debt Service Fund - General Obligation Bonds
The Debt Service Fund is established by Ordinances authorizing the issuance of general obligation bonds. The fund provides
for payment of bond principal, interest, paying agent fees, and a debt service reserve as a sinking fund each year. An ad
valorem tax rate and tax levy is required to be computed and levied, which will be sufficient to produce the money required to
pay principal and interest as it comes due and provide the interest and sinking fund reserve.
Legal Debt Limit
The State of Texas limits the ad valorem tax rate to $2.50 per $100 valuation. Other than the amount resulting
from such rate limitation, there is no legal debt limit. The computation of this limit is presented on page 17. The
City held a Bond Election (2014) and issued $45M in Bonds for the construction of a New Performing Arts
Facility, a Sports Facility Complex and Street improvement with each major project allocated $15M each with an
outstanding amount of $37.2M. The Refunding Bond Series 2015 in the initial amount of $12M has an
outstanding amount of $6.4M. The City has an issue of $25M in General Obligations for Drainage
Improvements. The City issued Certificate of Obligations in the amount of $5.9M for the construction of a Parks
Facility building and Fire Station #2 bringing the total outstanding amount for the current year to $74M. The City
also has a $12M Certificate of Obligation for the Performing Arts Facility to be paid with revenue generated from
the Hotel Tax Venue. In addition, the City has a Combination Tax and Revenue Certificates of Obligation, Series
2011 in the amount of $7.5M which will be paid with the Passenger Facility Charge (PFC) Fund. Therefore,
provision has been made in the Airport Fund, allocating a portion of the revenues for debt service.
Debt Service Funds – Revenue Bond Issues
Enterprise Fund/Sales Tax Revenue Bonds
The Debt Service Funds other than general obligation bonds are established by Ordinances authorizing the issuance of
revenue bonds. The fund provides for payment of bond principal, interest, paying agent fees, and a debt service reserve as a
sinking fund each year. Revenues of the activity related to the purpose of each bond issue are pledged as security for
repayment of these bonds.
Executive Summary Page xv