Page 20 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

HONORABLE MAYOR AND MEMBERS OF THE BENBROOK CITY COUNCIL

I am pleased to transmit to you the 2019-20 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 2019-20 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 2019-20 Budget Document.

The 2019-20 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 2019-20 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 2019-20 Adopted Budget Document does not include financial information for these funds.

The Benbrook Economic Development Corporation (EDC) is 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.

2019-20 ADOPTED BUDGET

During the review and subsequent adoption of the 2019-20 Budget, the Benbrook City Council and the City Staff focused on meeting the
challenges of: balancing the budget with minimal use of reserve funds, keeping reserves at or above the specified level, maintaining the
property tax rate at its current rate or lower, compensating employees at a level sufficient to remain competitive, continuing services to citizens
and businesses with no reduction in quality or quantity, and replacing and updating essential equipment.

BALANCING THE BUDGET

The 2019-20 Budget provides a balanced plan for municipal services from October 1, 2019 through September 30, 2020. Operating Fund
(combined General Fund and Debt Service Fund) expenditures included in the 2019-20 Budget total $21,433,668. General Fund
expenditures total $19,872,244 and Debt Service Fund expenditures total $1,561,424. Operating Fund (combined General Fund and Debt

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