Street Maintenance Fund

Fiscal Year 2022 – 2023 Budget

The Town voted to continue the 1/4 cent sales tax street maintenance allocation in May 2021. The town issues an annual competitive bid for street maintenance and awards the bid for street repairs based on a comprehensive street maintenance inventory grid maintained by the Town’s engineer. Street Maintenance Project inventory is updated annually by Public Works and the Town Engineer and projects are prioritized and placed out to bid; the bids are value engineered and tailored to the budget resources.

STREET MAINTENANCE FUND SUMMARY

Actual Amended Budget Estimated Budget Adopted Budget Planning Years

2020 - 2021 2021 - 2022 2021 - 2022 2022 - 2023 2023 - 2024 2024 - 2025 2025 - 2026 2026 - 2027

BEGINNING FUND BALANCE $1,359,040 $1,650,068 $1,650,068 $1,747,559 $1,176,542 $880,560 $609,989 $339,417

REVENUES

Sales Tax Interest Earnings

TOTAL REVENUES 1,459,321 1,453,229 1,649,190 1,678,983 1,704,018 1,729,428 1,729,428 1,729,428

TOTAL FUNDS AVAILABLE $2,818,362 $3,103,297 $3,299,259 $3,426,542 $2,880,560 $2,609,989 $2,339,417 $2,068,845

1,448,016 1,443,229 1,636,258 1,668,983 1,694,018 1,719,428 1,719,428 1,719,428 11,305 10,000 12,932 10,000 10,000 10,000 10,000 10,000

EXPENDITURES

Street Maintenance

1,168,293 2,421,178 1,499,288 2,250,000 2,000,000 2,000,000 2,000,000 1,900,000 Captial Outlay - 55,000 52,411 - - - - -

TOTAL EXPENDITURES $1,168,293 $2,421,178 $1,551,699 $2,250,000 $2,000,000 $2,000,000 $2,000,000 $1,900,000 ENDING FUND BALANCE $1,650,068 $682,120 $1,747,559 $1,176,542 $880,560 $609,989 $339,417 $168,845