Operating Budget 2025-2026

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PROGRAM DESCRIPTION (continued) The Stormwater Fund is an enterprise fund that is established to provide a dedicated revenue source to fund stormwater infrastructure maintenance and improvements in compliance with environmental regulations. The General Fund receives a transfer from the Stormwater Fund each year as reimbursement for public works, engineering, administration, human resources, financial, and information technology services. The Equipment Operations Fund is an internal service fund that contains funding for maintaining the Town's equipment and vehicle fleet. Each department using Equipment Operation services contains funding, which is transferred to the Equipment Operations Fund during the year to pay for the annual cost of maintaining vehicles assigned to the department. The Debt Service Fund accounts for the resources accumulated and payments made for principal and interest on long-term general obligation debt of governmental funds. Budgets for principal and interest payments however are budgeted for within each applicable fund. The Fiduciary Funds are used to account for monies held by the Town as an agent or custodian for others. These funds consist of the New River Valley Alcohol Safety Action Program (VASAP) and the Virginia Tech-Montgomery Executive Airport Authority. These funds are not included in the Town’s budget since their budgets are done by their respective Boards. In addition, the Town accounts for employee’s Other Post Employment Benefits (OPEB) that are held in a trust.

FINANCIAL STRUCTURE

All Funds

Fiduciary Funds

Governmental Funds

Proprietary Funds

General Fund

Enterprise Funds

Agency Funds

New River Valley Alcohol Safety Action Program Virginia Tech Montgomery Executive Airport Authority

American Rescue Plan Act Fund

Water & Sewer Fund

Midtown Special Service District Fund

Solid Waste & Recycling Fund