Page 13 - City of Bedford FY20 Approved Budget

educating, and involving citizens in their local government.
 Promote understanding of City government through education and
public participation.
 Develop and implement a coordinated communication and
engagement plan that will better allow the City to share information
about its work, as well as obtain feedback from those the City serves
about community priorities and public services.

From these focus areas, staff has been developing Management Action Plans, which are
comprised of projects, process improvements, plans and other operational work, designed
to provide organizational priorities and performance that will lead to the attainment of the
five-year goals and the long-term vision.

 Fiscal Year 2019/2020 Financial and Economic Outlook

The financial plan as presented in the proposed operating budget should be considered from
the broad perspective of the specific environment within which the City operates. The City
of Bedford is located in the center of the Dallas-Fort Worth Metroplex. The City
encompasses 10.1 square miles and is 97% developed. The 2010 Census reflects a
population of 46,979, consistent with the 2019 estimated population of 49,526. The total
taxable assessed value of property within the City increased this year to $4,677,996,218.
This represents an increase of $362,150,367, or 8.39% increase in taxable value compared
to FY 2018/2019. New construction values total $27,985,000.

A significant portion of the City’s general operating revenue is derived from sales tax and
efforts to maintain and grow our sales tax base are a high priority. As a policy, the City
strives to attract high quality, visually appealing businesses, as well as revitalize and invest
in areas that have seen some deterioration of economic activity.

 Planning for the Future

Current long-range financial planning primarily revolves around several major water/sewer
system infrastructure projects, as well as significant improvements to the stormwater
drainage system. A successful bond election in November of 2013 authorized funding for
Phase I of improvements to the Bedford Boys Ranch, the City’s largest park. Council and
staff worked with Kimley-Horn to evaluate the current facilities at the Boys Ranch and
provide a plan for the future of the park. This was presented to the voters as the $70 million
Phase Next project in a bond referendum on November 7, 2017, which passed. Plans for
Phase Next move forward with design work being conducted for a multi-generational
facility, indoor and outdoor aquatics, and ballfield improvements in the Park.

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