Page 12 - Haltom City Budget FY21

 Build and Maintain Partnerships with Non-Profit sector to Advance the Revitalization and
Beautification of the City.

 Address Critical Facility & Infrastructure Needs – Take Action on Water & Sewer Rate Study,
Complete Construction of Fire Station #3, Complete Plan for North Park Improvements,
Continue Street Repairs, Discuss Replacement of New Law Enforcement Center, City Hall,
and Senior Center.

During our Budget Workshops/Meetings we discussed:
· Tax Rate and Senate Bill 2 Information

· Fiscal Sustainability

· Employee Compensation
· Debt Schedule and Capacity

· Replacement of Aging Municipal Infrastructure
· Economic Development and Revitalization

· Storm Water/Drainage

· Capital Projects Water and Sewer and Roads

The enclosed budget documents include a summary and detailed line items for all
funds of the City.

Each major fund begins with a Budget Summary of revenues and expenditures.
This summary provides an overview of the approved budget. The summary sheets
provide information on the Prior Year Actual, Current Adopted Budget, Projected
Year End Budget, and the Approved Budget for FY 2020-2021. The ending fund
balance is also included and is a key element in the decision-making process for
each of the larger funds.

The Approved FY 2020-2021 property tax revenue is based on the Certified Values
provided by the Tarrant County Appraisal District. The FY 2020-2021 budget was
prepared using the current tax rate of $.665760 per $100 of net taxable value and
the certified value of $2,544,427,121—which is a 4.5% increase over last year’s
taxable value. The rates for maintenance and operations ($.403750 per $100
of net taxable value) and debt service ($.262010 per $100 of net taxable value)
add up to the $.665760 total tax rate. The No-New-Revenue Rate (Effective Tax
Rate) for the 2020 Tax Year is $.659514 per $100 of net taxable value, and the
Voter Approval Rate (Rollback Rate) is $.687781 per $100 of net taxable value.
Therefore, the approved tax rate is greater than the No New Revenue Rate, but
lower than the Voter Approval Rate and creates a total revenue of $16,518,959
assuming a 97.5% collection rate. We have also budgeted an additional $216,719
in property tax revenue for delinquent tax collection.

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