Page 117 - FortWorthFY22AdoptedBudget

General Fund

Financial Management Services

DEPARTMENT SUMMARY

Change from FY2021
FY2020 FY2021 FY2021 FY2022
Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax 432,650,416 448,904,675 448,904,675 481,721,693 32,817,018 7.31%
Sales Tax 166,266,554 168,248,455 168,248,455 182,885,742 14,637,287 8.70%
Other Tax 52,602,576 54,269,950 54,269,950 51,916,757 (2,353,193) -4.34%
License & Permits 473,284 596,030 596,030 498,910 (97,120) -16.29%
Intergovernmental 178,826 121,200 121,200 121,200 - 0.00%
Charge for Service 11,103,932 11,447,065 11,446,564 12,654,182 1,207,117 10.55%
Other 481,975 498,391 498,892 372,091 (126,300) -25.34%
Transfer In 34,005,583 35,148,289 35,148,289 35,914,299 766,010 2.18%
Use of Fund Balance - - 32,500 - - 0.00%
Revenue $697,763,147 $719,234,055 $719,266,555 $766,084,874 $46,850,819 6.51%

Salaries & Benefits 8,845,674 9,345,978 9,437,812 9,549,468 203,490 2.18%
Gen Operating & Maintenance 2,750,137 2,776,303 2,833,803 3,173,280 396,977 14.30%
Expenses $ 11,595,811 $ 12,122,281 $ 12,271,615 $ 12,722,748 $ 600,467 4.95%

2021 2022 Change
Fund AP FTE AP FTE AP FTE
General Fund 91.00 90.00 91.00 90.50 - 0.50
Grant Funds - 1.00 - 0.50 - (0.50)
Total 91.00 91.00 91.00 91.00 - -

DEPARTMENT PURPOSE AND GOALS
The Financial Management Services Department has central oversight of the administration of financial activities
across the City. These duties are performed by the following divisions: Administration, Accounting & Financial
Reporting, Financial Systems Management, Central Purchasing, and Treasury.

The Administration Division is responsible for providing overall planning and support to the other elements of the
Department which include administering fiscal and administrative responsibilities such as budget, human
resources, payroll, revenue, asset management, information technology and procurement, and vendor invoice
processing.

The Accounting & Financial Reporting Division maintains the general ledger, performs grant accounting and
administration, and records and tracks the city’s capital assets in an accounting system conforming to city charter
requirements and municipal accounting principles. This team also completes bank and balance sheet account
reconciliations in addition to performing fund-level reviews to ensure the accuracy of entries made to general
ledger accounts. This team manages the traditional period-end close processes and oversees interfaces from
external systems into the general ledger. The Financial Reporting area of this division prepares all financial
publications including the city's Comprehensive Annual Financial Report (Annual Report) and coordinates the
annual external audit by an independent audit firm as required by the city’s charter within the Department of

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