Page 10 - Haltom City FY19 Annual Budget

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5024 Broadway • P.O. Box 14246 • Haltom City, TX 76117-0246 • 817.222.7700 • Fax: 817.222.7237 • www.haltomcitytx.com

October 1, 2018

Honorable Mayor David Averitt and Members of the City Council,

I am pleased to present to you the Annual Budget for Fiscal Year 2019, which begins
October 1, 2018 and ends September 30, 2019. The budget is one of the most important
policy documents of the City and presents the operational and financial plan to
accomplish the Council’s short- and long-term goals for the upcoming fiscal year. The
total FY2019 adopted budget revenues are $77,574,105—and the total expenditures are
$92,401,105. In comparison with last year’s revised budget, this budget represents an
increase of $3,953,893 (14%) in expenditures. This increase is largely due to capital
improvement projects for the construction/relocation of Fire Station 3, and
construction/reconstruction/improvement of streets and parks.

This document represents many hours of review, assessment and discussions by staff
and City Council. The essential task is to produce a balanced budget. Staff and City
Council have attempted to address the City Council’s long-term strategic goals through
current budget action plans, while controlling increases in personnel and operation costs
within the various funds.

The FY2019 budget represents conservative financial planning while also addressing
increased demand for City services occurring over the past several years. The pressure
on the budget to address operational needs and deferred maintenance issues continues.
Our reserves are sufficient for the time being, but we must continue to operate in a
responsible manner until the planned economic development positively impacts property
values, utility consumption, and sales tax receipts.

Much work remains to be done to position the City to be competitive in the 21 Century.
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Technology improvements, infrastructure improvements, and investments in human
capital (employees), all compete for scarce resources within the public sector. The
measure of our success is how we balance these needs and resources to create a better
Haltom City for our citizens, business owners, and visitors.

MAJOR ISSUES AND PRIORITIES

Haltom City currently benefits from not only our proximity to Fort Worth, but also our vital
location along the 820 and 121 corridors. This past year, the Fort Worth Metropolitan
Statistical Area (MSA)—in which Haltom City is located—has seen a moderately
expansive growth driven by commercial construction, retail sales, as well as services and

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