Page 14 - Grapevine FY20 Approved Budget

Goal: Invest in “Quality of Life” capital projects

• Completed construction of the city’s first dog park – Bark Park at Bear Creek Park, which
encompasses a total of 14 acres on both sides of Bear Creek Park.

• Began renovation of the Oak Grove Ballfield Complex.

• The Grapevine Public Library unveiled its GROW (Grapevine Resources on Wheels) vehicle,
mobile library services designed for all ages with a special focus on meeting the needs of the
diverse Grapevine community.

• Transferred $3 million from the General fund to the Quality of Life fund at fiscal year-end.

FY 2020 HIGHLIGHTS:

Goal: Maintain financial stability and strong fiscal management

• Reduced the Ad Valorem tax rate from $0.289271 to $0.284271 per $100 valuation. This
means the owner of a home assessed at Grapevine’s average net taxable value of $275,247 will
owe City taxes of $782.44, down from $796.21 the previous year.

• The FY20 ending fund balance in the General Fund is projected to equal 26% of expenditures,
and exceeds the 20% policy requirement by $3.8 million.

• The FY20 ending fund balance in the Convention and Visitors Bureau Fund is projected to
equal 47% of expenditures, and exceeds the 60-day requirement by $6.1 million.

• The FY20 ending fund balance in the Debt Service, Stormwater Drainage and Utility
Enterprise funds exceed the balance requirement.

• Vehicle and equipment replacements will be financed via cash with no debt issuance. The
General fund is providing financing of $830,000 for the acquisition of a fire truck. The Utility
fund is providing financing of $210,000 for the acquisition of service vehicles.

Goal: Sustain existing programs at high service levels

• Funding is provided for the ninth year of Next Generation Leadership (NGL) program. The
program provides customer service and leadership development training to employees
throughout the organization. A major program enhancement for FY20 is the change to Even
Years Continuing Education / Odd Years New Class. This allows us to provide continuing
leadership education to people who have already completed NGL – the alumni. The first year
of continuing education for NGL alumni will begin in 2020.

• Full funding of Permanent Capital and Street Maintenance programs are restored for FY20 at
$3,279,000.

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