Page 13 - FY 2009 Proposed Budget

Budget In Brief
Table of Contents
Table of Contents

FY 2021 ADOPTED GENERAL FUND REVENUES
The City’s revenue outlook has been dramatically affected by the COVID-19 pandemic. The health crisis has resulted in a
significant economic downturn for the City, with impacts across the spectrum of our annual revenues. Property and sales tax
revenues had shown strong and consistent growth over several years following the recovery from the recession. However, the
Adopted Budget includes declines for these revenue sources in FY 2021. After four years of growth in assessed taxable value
of 9.0% or more, assessed value grew by 2.6% for FY 2021. Sales taxes are projected to decline by 8.0% from the FY 2019
actual level. The following table provides a summary of General Fund revenues by major category for FY 2019 Actuals, FY
2020 Estimates, and FY 2021 Adopted.

FY 2019 Actuals FY 2020 Estimates FY 2021 Adopted
Property Taxes $ 106,405,330 $ 116,407,086 $ 107,110,384
Sales Taxes 66,969,349 63,173,640 61,594,299
Franchise Fees 38,087,981 36,768,006 36,751,686
Service Charges 14,631,453 15,139,206 16,631,856
Fines and Forfeitures 11,152,679 9,202,021 10,164,450
Other Revenues 20,106,139 17,041,309 15,359,180

Total Revenues $ 257,352,931 $ 257,731,268 $ 247,611,855

Revenue projections determine the level of resources that can be allocated for programs and projects to support the City
Council’s goals and objectives. The revenue graph below shows the decline in property tax revenue anticipated for FY 2021,
and also shows the pandemic’s effects on retail sales activity beginning in the spring of 2020.

2021 Adopted Budget and Business Plan 2 City of Arlington, Texas