Page 16 - Westworth Village FY21 Budget

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General Fund Revenue Overview

Goals and Objectives:
Goal: Have diverse and adequate funding sources
1. Objective: Maintain revenues to not be overly reliant on a single source
2. Objective: Maintain a minimum of six months’ operating expenses in reserves

Goal: Operate the organization in a fiscally conservative manner
1. Objective: To adopt a tax rate equal to or less than the prior year
2. Objective: To increase the city’s taxable value to decrease the overall tax burden

Performance Indicators:

Goal Indicator FY 2019 Actual FY 2020 Projection FY 2021 Target
Percentage of sales tax to overall
1 39% 41% 41%
budget
Percentage of ad valorem tax to
1 17% 18% 18%
overall budget
Percentage of residential portion of ad
1 65% 64% 64%
valorem tax
Months of operational expenses in
2 6 6 6
General Fund reserves
3 Revenues exceeded expenses Yes Yes Yes
3 M & O tax rate $0.24 $0.235 $0.235

4 Citywide taxable value $267,000,000 $300,000,000 $300,000,000

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