Page 23 - Benbrook FY2021

Texas Senate Bill 2 went into effect for the 2020-21 budget which reduced the Voter-Approval tax rate cap from 8 percent to 3.5%. The City
was able to reduce its tax rate and adopt a rate below the Voter-Approval rate while still balancing the budget.

The certified tax roll received from the Tarrant Appraisal District (TAD) in July 2020 shows the total appraised value of property in Benbrook
at $2,656,003,882; TAD provided revised assessed valuation and property tax data in September 2020; however, the July 2020 totals are
used for all 2020-21 budget calculations. Total exemptions (over-65, homestead, disability, veterans, pro-rated absolute, and nominal value -
below $500) and total adjustments (absolute exemptions, cases before the Appraisal Review Board, and incomplete accounts) are
$363,364,639. TAD’s minimum projected value of property under protest and/or in incomplete accounts is $73,139,760. The total net taxable
value used to project revenues for 2020-21 is $2,377,284,578. Based on the tax rate of $0.6225, current property tax collections are
projected to be $14,194,408 at a 100% collection rate for both the General Fund and the Debt Service Fund property tax revenue.

EMPLOYEE COMPENSATION AND RETENTION

The City of Benbrook’s philosophy over the past thirty-plus years is to recruit highly-qualified and top-quality employees by providing above-
average salaries and competitive benefits and to retain employees through the offering of merit increases, promotional opportunities,
stability/longevity pay, and an excellent retirement system with five-year vesting and retirement eligibility after twenty years of service. One
of the City Council’s commitments during the review of the 2020-21 Budget was to ensure that this philosophy continued. The 2020-21 Budget
includes funds for: (1) merit increases for eligible employees; (2) an up-to twenty percent increase in premiums to continue current benefits and
services for health, dental, and life insurance; and (3) continuation of contributions to employee retirement as proposed by the Texas Municipal
Retirement System.

CONTINUATION OF CURRENT SERVICES

The 2020-21 Budget reflects the continuation of current services and programs. The City of Benbrook provides basic municipal services to
citizens, businesses, and visitors. Benbrook takes pride in providing top-quality services at affordable costs. The 2020-21 Budget does not
include reductions in services or cut backs.

REPLACEMENT OF EQUIPMENT

The 2020-21 Budget includes funds to replace essential equipment. Since there are no decision packages in the 2020-21 budget the
replacement of equipment is very limited. The 2020-21 Budget reflects the procurement of one new Fire Truck to replace an older vehicle being
funded out of the Asset Replacement Fund. Funds are included in the Police Department’s budget allocation for the purchase of five new Police
Patrol vehicles.

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