FY2020 Budget

Roadway & Transportation CRF

MISSION

The purpose of the Roadway & Transportation Capital Reserve Fund is to set aside funds annually to address the growing roadway and transportation needs facing the community. The funds may be utilized for preliminary design for improved cost estimation or for associated debt obligations or any other maintenance or capital expense related to future roadway or transportation projects. This avoids resource competition and cash flow demands on the Fund Balance and allows for better planning and implementation of tangible assets that add value to the community. The estimated value of 1 cent on the tax rate is dedicated annually as the primary funding resource.

SERVICE TO COMMUNITY

Leverage our resources by re-investing in the community.

BUDGET NOTES

New Initiatives & Priorities

Cost Value

Traffic Pre-emption for Emergency Vehicles Through Town Intersections

350,000

NC 54 Corridor Congestion Mitigation 3

1,000,000 $1,350,000

Total

ROADWAY & TRANSPORTATION CAPITAL RESERVE FUND2017 Actual

2018 Actual

2019 Estimated 2020 Proposed

Beginning Balance Interest Earnings

$ $ $ $ $

-

$ $ $ $ $

441,753

$ $ $ $ $

909,539 10,121 475,000

$ $ $ $ $

1,394,660

1,753

7,786

5,400

Transfer in from General Fund Transfer out to Capital Project(s)

440,000

460,000

490,000

-

-

-

(1,350,000)

Ending Fund Balance

441,753

909,539

1,394,660

540,060

Year Over Year % Change Total Year Over Year $s Change Total

105.9%

53.3%

$

441,753

$

467,786

$

485,121

3 Town Council appropriated reserves to establish the NC 54 Corridor Congestion Mitigation Capital Project. Information above has been adjusted accordingly.

80