Page 31 - Town of Bedford FY 2018-2019 Budget.pdf

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Electric Rates: In accordance with Article II of the Municipal Code, the Town Manager has the authority
to evaluate the cost of electric operations and make recommendations to Town Council of a rate to be
as uniform as possible to cover such operations.

¾ Use of Prior Year Reserves – The cash balance carried over from the previous fiscal year to cover
expenditures in the current fiscal year.
¾ Revenue from Use of Money & Property – Revenue made on utility pole lease agreements.
¾ Sale of Electricity – Fees collected for electricity provided to residential and commercial
customers.
¾ Power Cost Adjustment – Rate adjustment for the leveling of electric charges.
¾ Gross Receipts Tax – This is the charge assessed to recover the miscellaneous gross receipts tax
imposed on retail electric providers operating in an incorporated city or town having a
population of more than 1,000.
¾ Other Non-Revenue Receipts – Interest collected on investments and utility deposits.
¾ Recoveries & Rebates – Reimbursement to the Electric Fund on items such as insurance claim
recoveries and other various expenditure refunds.

REVENUE COLLECTION TREND

ACCOUNTS FOR: FY 2015 FY 2016 FY 2017 FY 2018 FY 2019
ELECTRIC FUND ACTUALS ACTUALS ACTUALS BUDGET ADOPTED
ELECT - GENERAL REVENUE $ 315,401 $ 319,384 $ 348,194 $ 347,943 $ 307,000
ELECT - CHARGES FOR SERVICE $ 22,246,613 $ 23,176,319 $ 25,335,304 $ 23,572,443 $ 23,691,484
TOTAL ELECTRIC FUND $ 22,562,014 $ 23,495,703 $ 25,683,497 $ 23,920,386 $ 23,998,484

CAPITAL PROJECTS FUNDS

Transfers
¾ Transfers from each fund’s Operating account to its respective Capital Improvement Project
account to cover budgeted CIP projects.

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