Page 22 - Honorable Mayor and Members of the City Council

HONORABLE MAYOR AND MEMBERS OF THE BENBROOK CITY COUNCIL

I am pleased to transmit to you the 2018-19 Budget for the City of Benbrook. This Budget meets all of the provisions
of the Home Rule Charter of the City of Benbrook, Texas and all applicable laws of the State of Texas. The 2018-19
Budget adopted by the City Council consists of the General Fund and the Debt Service Fund. Annual expenditures for
these two funds are approved by the City Council through the adoption of an ordinance. Council also establishes the
property tax rate through the adoption of an ordinance; separate property tax rates are adopted for the General Fund
and for the Debt Service Fund. Copies of these two ordinances are included in the Appendix Section of the 2018-19
Budget Document.

The 2018-19 Budget, as adopted by the Benbrook City Council, consists of the General Fund and the Debt Service Fund;
when these two funds are combined for revenue, expenditure, and fund balance reporting, they are referred to as the
Operating Funds. Unless specified, the term 2018-19 Budget that is reflected throughout this document refers to the
Operating Funds.

The City of Benbrook also has the Capital Projects Fund; Other Funds (Tax Increment Financing Fund, Core Value Fund,
Stormwater Utility Fund, Police Narcotics Fund, and Hotel/Motel Occupancy Tax Fund); and Grant Funds. Whereas
these funds are examined by the City Council during the formal budget review and adoption process, expenditures for
these funds are not formally established through the adoption of ordinances. The 2018-19 Adopted Budget Document
does not include financial information for these funds.

The Benbrook Economic Development Corporation (EDC) is now a department of the City; however, financial reporting
is maintained on a separate basis. The EDC is considered a blended component unit of the City. The Benbrook
Economic Development Corporation’s Director prepares an annual budget and presents this document to the BEDC’s
Board of Directors for approval. The budget is then submitted to the City Council for ratification.

CITY OF BENBROOK 2018-19 ANNUAL BUDGET
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