Page 79 - City of Bedford FY22 Budget

This gov e rnme nt al fu nd is u se d t o accou nt for t he re v e nu e and
e x pe ndit u re s re lat e d t o e conomic de v e lopme nt re lat e d act iv it ie s,
part icu larly as t he y pe rt ain t o agre e me nt s made t hrou gh C hapt e r 380 of
t he Te x as Local Gov e rnme nt C ode and t he C it y ’s E conomic De v e lopme nt
Economic Dev Ince nt iv e Policy and Program.
Fund
U nde r C hapt e r 380 of t he Te x as Local Gov e rnme nt C ode , t he C it y C ou ncil
is able t o part ne r wit h local bu sine sse s u sing au t horize d t ools, su ch as t ax
re bat e s, t o prov ide ince nt iv e pack age s for bu sine ss re cru it me nt and
re t e nt ion. This fu nd is u se d t o accou nt for re imbu rse me nt s u pon
v e ri{ cat ion of compliance wit h e ach agre e me nt 's parame t e rs.
Summary

The To wn o f B edf o r d i s pr o j ect i ng $ 301.5K o f r ev enue i n F Y2022, whi ch r epr es ent s a 46 8.9 % i ncr eas e o v er t he pr i o r y ear .
B udg et ed expendi t ur es ar e pr o j ect ed t o i ncr eas e by 88.5% o r $ 345K t o $ 735K i n F Y2022.

$8 00K

$600K

$400K
Actual R evenue S o urce
Budgeted R evenue S o urce
Over Budget R evenue S o urce
$2 00K
Actual Ex penditures
Budgeted Ex penditures
$0
F Y 2 016 F Y 2 017 F Y 2 018 F Y 2 019 F Y 2 02 0 F Y 2 02 1 F Y 2 02 2

City of Bedford, TX | Budget Book 2022 Page 79