Page 55 - Town of Bedford FY 2018-2019 Budget.pdf

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revenue streams pledged for payment. A debt service ratio greater than 1.00
indicates a sufficient ability to make the debt service payments from net
revenue from operations. As of the last reported CAFR, the Town experienced
a debt service coverage ratio of 4.80. This indicates that the Town generated
4.80 times the amount of cash necessary to pay the debt service requirements
on its revenue bonds.
Measure: Maintain a minimum of 1.00 debt service ratio.
FY 2017 FY 2018 (Goal) FY 2019 (Goal)
4.80 4.80 5.5
Objective The self-sufficiency ratio indicates the level at which business-type activities
covers their current costs with current year revenues, without having to rely
on subsidies or use of prior year reserves. As of the last reported CAFR, the
Solid Waste Fund had a self-sufficiency ratio of 82.3% and the Electric Fund
has a self-sufficiency ratio of 121.7%.
Measure: Maintain a minimum self-sufficiency ratio for business-type
activities of 100.0%.

FY 2017 FY 2018 (Goal) FY 2019 (Goal)
Solid Waste 82.3% 100.0% 100.0%
Electric 121.7% 100.0% 100.0%

FINANCIAL SUMMARY

FY 15/16 FY 16/17 FY 17/18 FY 18/19
FUNCTIONAL AREA
ACTUALS ACTUALS BUDGET ADOPTED
Treasurer's Office 170,438 186,912 199,692 191,945
Finance Department 157,909 151,651 177,867 187,197

Other Gen & Financial Admin 9,014 165,163 11,109 11,109
TOTAL FINANCE 337,362 503,726 388,668 390,251

SERVICES
Budget Administration The primary responsibility of the Budget Administration division is the
development and management of the Town Budget, Capital Improvement
Program, and the Five Year Plan. This division works with all other Town
department's financial management personnel to produce the Fiscal Year
Budget and all other required Federal/State budgetary reporting.

Financial Accounting Responsible for all accounts payable and accounts receivable processes for all
Processes Town Departments and Enterprise Funds. Provides for the maintenance of all
official financial records. Responsible for compiling and filing all official reports
pertaining to GAAP, GASB, FASB, State and Federal reporting requirements.
Facilitates all recording and reporting of financial activity in current financial
software package. Oversees financial interactions made by Town Departments

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