Page 7 - Haltom City FY20 Approved 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, 2019

Honorable Mayor Dr. An Truong and Members of the City Council,

I am pleased to present to you the Annual Budget for Fiscal Year 2020, which begins
October 1, 2019 and ends September 30, 2020. 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 FY2020 adopted budget revenues are $79,085,490—and the total expenditures are
$93,113,972. In comparison with last year’s revised budget, this budget represents an
increase of $712,867 (1%) in expenditures. This increase is largely due to the renovations
planned for the Northeast Center and the Police Building.

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 FY2020 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 within the Dallas/Fort
Worth Metroplex. 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
transportation. Overall, the North Texas region has fared better than the nation in
economic growth and expansion.

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