Page 63 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

OPERATING FUNDS REVENUES

ADOPTED BUDGET

General Fund and Debt Service Fund revenues and transfers for 2019-20 are projected to be $22,650,378 and are $1,108,477 or 5.15
percent over the 2018-19 re-estimate of $21,541,901. General Fund revenues and transfers for 2019-20 total $21,073,383 for a net
increase of $1,262,875 or 6.37 percent over the 2018-19 re-estimate of $19,810,508. Debt Service Fund revenues and transfers total
$1,576,995 in 2019-20 for a decrease of $154,398 or 8.92 percent less than the 2018-19 re-estimate of $1,731,393.

General Fund and Debt Service Fund revenues, excluding transfers, for 2019-20 are projected to be $21,460,490 and are $1,132,971 or
5.57 percent over the 2018-19 re-estimate of $20,327,519. General Fund revenues for 2019-20 total $20,973,383 for a net increase of
$1,297,882 or 6.60 percent over the 2018-19 re-estimate of $19,675,501. Debt Service Fund revenues total $487,107 in 2019-20 for a
decrease of $164,911 or 25.29 percent less than the 2018-19 re-estimate of $652,018.

PROPERTY TAX RATE AND REVENUES

The 2019-20 Budget includes lowering the property tax rate to $0.62777 per $100 valuation from $0.64000 in 2018-19. The General
Fund rate decreases to $0.60647 from $0.60750 and the Debt Service portion of the property tax rate decreases to $0.21300 from
$0.03250.

The City of Benbrook is projected to experience property tax revenue growth in 2019-20 due to a net increase in assessed valuations for
Benbrook. On July 25, 2019, the Tarrant Appraisal District (TAD) provided the City with final assessed valuation totals for use in computing
property tax projections and in preparing "Truth in Taxation" notices. Assessed valuations increased by approximately 6.32 percent in a
comparison of total values.

For the Operating Funds (General Fund and Debt Service Fund), revenue from ad valorem taxes in the amount of $14,282,365 for 2019-20
is projected to increase by $1,436,104 from the 2018-19 re-estimate of $12,846,261. Current property tax revenue is projected to increase
by $1,418,241 from $12,692,799 to $14,111,040. Revenue from delinquent property taxes is projected to increase by $10,508 from the
2018-19 re-estimate of $94,570 to $105,078. Revenue from interest and penalties is projected to increase by $5,254 from the 2018-19
re-estimate amount of $21,016 to $26,270.

FRANCHISE TAX REVENUE

Franchise taxes are projected to decrease by $116,000 from the 2018-19 re-estimate of $1,591,000 to $1,475,000 in 2019-20.
Revenue from the electrical franchise is projected to be $800,000 in 2019-20. Revenue from the natural gas franchise is projected to

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