Page 79 - FY 2021-22 ADOPTED BUDGET

OPERATING FUNDS REVENUES

ADOPTED BUDGET

General Fund and Debt Service Fund revenues and transfers for 2021-22 are projected to be $23,279,458 and are
$291,291 or 1.27 percent over the 2020-21 budget of $22,988,167. General Fund revenues and transfers for 2021-
22 total $21,354,964 for a net increase of $86,064 or 0.40 percent over the 2020-21 budget of $21,268,900. Debt
Service Fund revenues and transfers total $1,924,494 in 2021-22 for an increase of $205,227 or 11.94 percent more

than the 2020-21 budget of $1,719,267.

General Fund and Debt Service Fund revenues, excluding transfers, for 2021-22 are projected to be $22,239,457
and are $508,298 or 2.34 percent over the 2020-21 budget of $21,731,159. General Fund revenues for 2021-22
total $21,354,964 for a net increase of $108,503 or 0.51 percent over the 2020-21 budget of $21,246,461. Debt
Service Fund revenues total $884,493 in 2021-22 for an increase of $399,795 or 82.48 percent more than the 2020-
21 budget of $484,698. The increase is due to the addition of Series 2021 General Obligation Bonds for the
construction of a new municipal complex.

PROPERTY TAX RATE AND REVENUES

The 2021-22 Budget includes lowering the property tax rate to $0.6175 per $100 valuation from $0.6225 in 2020-
21. The General Fund rate decreases to $0.5810 from $0.6015 and the Debt Service portion of the property tax

rate increases to $0.0365 from $0.0210.

The City of Benbrook is projected to experience property tax revenue growth in 2021-22 due to a net increase in
assessed valuations for Benbrook. On July 25, 2021, the Tarrant Appraisal District (TAD) provided the City with final
assessed valuation totals for use in computing property tax projections and in preparing "Truth in Taxation" notices.
Assessed valuations increased by approximately 5.65 percent in a comparison of total values.

For the Operating Funds (General Fund and Debt Service Fund), revenue from ad valorem taxes in the amount of
$14,977,057 for 2021-22 is projected to increase by $707,209 from the 2020-21 re-estimate of $14,269,848.
Current property tax revenue is projected to increase by $709,520 from $14,155,187 to $14,864,707. Revenue
from delinquent property taxes is projected to remain the same as 2020-21 at $53,000. Revenue from interest and
penalties is projected to increase by $830 from the 2020-21 re-estimate amount of $36,920 to $37,750.

FRANCHISE TAX REVENUE

Franchise taxes are projected to decrease by $7,165 from the 2020-21 re-estimate of $1,417,165 to $1,410,000
in 2021-22. Revenue from the electrical franchise is projected to be $780,000 in 2021-22. Revenue from the
natural gas franchise is projected to be $85,000. Revenue from the telephone franchise is projected to be

$40,000. Revenue from the sanitation franchise is projected to be $350,000. Revenue from the cable television
franchise is projected to be $155,000.

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