Page 77 - Mansfieldr FY20 Approved Budget

MAJOR REVENUES

General Fund

City revenues are based on a combination of factors including analysis of historical revenue, anticipated
changes in the local economic environment and projected growth and development throughout the City.
The City of Mansfield also uses a variety of factors in determining the availability of revenue to fund
operations throughout the City, including but not limited to qualitative and quantitative revenue
forecasting, trend analysis, time series analysis, multi-year historical data, national, state and local
economic trends, undeveloped land, actual and proposed development, quantitative and qualitative
factors including plats, building permits and the Long Term Financial Plan.

In FY 2019-2020, the City has aggressively estimated revenues based on current residential and
commercial developments approved by City Council, robust economic development efforts and increased
commercial and residential developments within the City. Development in the medical corridor and the
southern portion of the City are expected to continue in FY 2019-2020. Residential and commercial
property valuations have followed recent local, state and national trends.

Actual Actual Actual Budget Budget
Description 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 Percent
Property Tax $ 24,751,962 $ 27,006,899 $ 29,975,619 $ 34,590,787 $ 39,607,046 14.50%
Sales Tax 10,507,550 10,988,730 11,797,895 12,306,425 13,167,875 7.00%
Franchise Fees 6,526,524 6,494,225 6,734,684 6,747,601 6,414,079 -4.94%

Fines & Fees 2,203,276 2,198,449 2,351,638 2,057,432 2,059,279 0.09%

Permits 2,145,931 1,931,400 2,515,107 2,128,200 2,191,069 2.95%
Transfers 1,208,513 1,562,352 1,968,843 1,908,861 1,905,711 -0.17%
Other 5,959,076 3,025,130 4,089,792 2,581,568 2,902,312 12.42%

Total $ 53,302,831 $ 53,207,185 $ 59,433,579 $ 62,320,874 $ 68,247,371 9.51%

Percentage -0.18% 11.70% 4.86% 9.51%

Total revenues appear to fluctuate year to year in the “Other” category due to unbudgeted collections such
as contributions and grants. During FY 2015-2016, the city sold $2,031,543 in property and received
grants and contributions totaling $1,987,971. In FY 2016-2017, ambulance service and grant proceeds
account for 73% of the “Other” category. FY 2017-2018 includes $1,107,183 in bonds.

A total of $68,274,371 is projected in the General Fund for FY 2019-2020. This represents a 9.51%
increase over the FY 2018-2019 budget, or $5,953,497 in increased revenue. The assumptions used by the
City to formulate the projected 2019-2020 budget are explained and illustrated on the pages that follow.
The property tax rate is $0.71 in FY 2019-2020 and represents no increase in the property tax rate.

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