Page 15 - Manfield FY21 Budget
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• Maintain and expand existing service levels.
• Continue to explore additional revenue sources.
• Reduced operational costs while adding 13.5 full-time equivalent positions in the General Fund.
Local Economic Factors Affecting the 2020-2021 Service Programs
• Impact of Covid-19 on property values, sales tax and other revenues moving forward.
• Improved industrial, commercial, and residential valuations.
• Increased interest in development along State Highway 360 and Highway 287.
• Increased interest in development downtown.
• Retail, commercial, and industrial recruitment and retention.
• Increased tourism efforts City-wide.
• Sales tax related revenue is estimated to increase 4% from $12,944,825 in FY 2019-2020 to
$13,462,618 in FY 2020-2021 due to increased population growth and the continued expansion of
retail development of the Shops at Broad.
• Improving unemployment rate after recovery from the pandemic.
• Strategic location in the Dallas/Fort Worth area - North/South corridors of Highways 360 and 287.
• A well-planned City including desirable neighborhoods, schools and superior City services.
• Continue aggressive Economic Development programs.
• Current average household family income of $125,604.
Impact of Economy on Surrounding Area Cities
• City of Arlington - population growth based on the 2010 census of 9.2% since 1990. Major
developments include AT&T (Dallas Cowboys) Stadium, Globe Life Park and the Arlington
Highlands retail center.
• City of Fort Worth - population growth of 22.7% since the 2010 census.
• Dallas/Fort Worth Region - the region’s estimated unemployment of approximately 8.3% due to the
impact of Covid-19. Nationally, the unemployment rate is 8.4%.
Impact of National and Global Economies
• The national economy continues to improve as the impact of Covid-19 begins to subside.
• Federal Reserve interest rates near zero.
• Regional unemployment rate of 8.3%.
• Labor supply and demand.
• Continuation of relocation of traditional population centers to the southwest region.
• Local, Regional and National elections.
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