Page 12 - Town of Bedford FY 2018-2019 Budget.pdf

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Solid Waste Fund & General Fund Capital Outlay olid Waste Fund & General Fund Capital Outlay
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The adopted Solid Waste Fund Budget for FY 2018-2019 is $879,158, a decrease of $450,198 (-33.87%)
from the previous fiscal year original adopted budget without amendments. This includes an increase in
the Residential and Commercial Solid Waste Fee of $2.00 per rate type. This increased fee allows the
fund to be self-sustaining for FY 2018-2019 and mitigate the need to do a General Fund transfer. This
includes an anticipated transfer of $9,500 for Solid Waste Capital Improvement Fund items. The Town is
continuing its efforts to provide enhanced services to its customers such as its e-waste and paint
collections. The Town has also budgeted in anticipation for the closure of the current open landfill.

FY 2019 FY 2018
ADOPTED ADOPTED DIFFERENCE % CHANGE
SOLID WASTE FUND 879,158 1,329,356 -450,198 -33.87%
SOLID WASTE CAPITAL IMPROVEMENT FUND 9,500 525,000 -515,500 -98.19%

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Electric Fund & Electric Fund Capital Outlay lectric Fund & Electric Fund Capital Outlay
The adopted 2018-2019 fiscal year Electric Fund Budget is $23,998,484, an increase of $126,037 (0.53%)
from the previous fiscal year original adopted budget without amendments. This includes a transfer of
$2,043,000 to the Electric Capital Improvement Project Fund and a transfer of $500,000 to the General
Fund. As with other municipal and investor owned utilities, we are feeling the effect of increased energy
and energy transmission costs. We will continue to aggressively evaluate all options during the
upcoming fiscal year to continue our efforts to stabilize costs to our customers. The adopted budget
does not include an increase in electric customer charges.

FY 2019 FY 2018
ADOPTED ADOPTED DIFFERENCE % CHANGE
ELECTRIC FUND 23,998,484 23,872,447 126,037 0.53%
ELECTRIC CAPITAL IMPROVEMENT FUND 2,043,000 2,079,500 -36,500 -1.76%

Economic Development conomic Development
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The Town continues our efforts at community and economic development in a time of uncertain
development patterns that include a volatile job market and increased competition among localities vying
for “big business”. The Town has renewed efforts to provide fertile opportunities for new businesses and
expansions of existing businesses within its limits but with that comes associated infrastructure, planning,
and service costs. Town Council has reaffirmed its commitment to being a great place to have a business
by investing in grants and incentives that reward existing business and property owners, and attract new
businesses that complement the community. In furtherance of this commitment, Council (re)created the
Economic Development Authority and with Town administration created a position focusing on economic
development. This new Coordinator position will carry out the goals and policies of Council by introducing
business opportunities to our community and fostering a dedicated business-friendly atmosphere. The
importance of being a great place to work and live will be key selling factors.

CONCLUSION

This budget as adopted allows the Town to continue to provide our citizens and businesses with an
adequate level of municipal services. It also provides funding to maintain our core programs and

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