Page 15 - FY 2020-21 Budget Cover.pub

General Fund

Revenues

The proposed General Fund budget provides for estimated revenues of $11,430,141 during FY
2020-21. This reflects a decrease of $409,225 (3.45%) compared to the FY 2019-20 amended
budget. Transfers in the amount of $757,251 bring total available revenues for operations to
$12,187,392.

General Fund revenue from current ad valorem taxes is projected to be $6,181,809 in FY 2020-
21.

Sales tax revenue is estimated at $2,200,000 in FY 2020-21, which is the same amount as the
amended FY 2019-20 budget. This estimate is based on recent trends in sales tax collections.

Franchise fees are projected at $685,000 which is the same amount as FY 2019-20.

Court fees are anticipated to be $400,000 in FY 2020-21 which is $20,000 more than the initially
anticipated amount for FY 2019-20.

Within the General Fund, ad valorem taxes, sales taxes, franchise fees, ambulance and fire
fees, court fees and development fees account for 89.83% of the total revenue.

The transfer from the Utility and Stormwater funds is $757,251.

Expenditures

The General Fund expenditure budget for FY 2020-21 is $13,029,066. The proposed amount
reflects an increase of $881,553 (7.25%) from the FY 2019-20 amended budget. Including
transfers in from other funds, revenue is projected to be $841,674 under expenditures before
transfers to other funds. The projected ending fund balance is $5,443,316 or 41.8% of projected
expenses.

Debt Service Fund

Total debt service for outstanding obligations is $789,662. Along with Agent Fees, the total debt
service cost is $793,662. To finance this debt obligation, the budget provides for estimated ad
valorem taxes of $725,162, delinquent tax revenue, penalties & interest of $11,000, and interest
income of $3,500 and $54,000 from reserves. A fund balance of $45,823 is projected for the
end of FY 2020-21. Again, the I&S portion of the tax rate is proposed at $0.071160.

Utility Fund

Revenues

Total Utility Fund revenues of $9,033,080 have been projected for FY 2020-21. This reflects an
increase of $376,995 over the FY 2019-20 budget. The water and sewer rates are proposed to
remain unchanged for FY 2020-21.

City of Azle FY 2020-2021 Budget 5