Page 165 - Haltom City FY 22 Budget

CITY OF HALTOM CITY ANNUAL BUDGET, FY2022 Supplemental Information

Building the reserve will only benefit the City in future years by preparing city staff to continue to
offer quality services and maintain staffing during economic down-turns. As unexpected as the
Covid-19 pandemic that caused a shut-down of many non-essential businesses during the 2020
fiscal year, having a healthy reserve balance will help weather a fiscal storm. The experience of
this quick-developing crisis caused city leadership to refocus on necessities for operations by
halting all unnecessary spending and will be better prepared should an economic crisis occur
again.

MULTI-YEAR FINANCIAL OUTLOOK
GENERAL FUND
Budgeted Projected Projected Projected Projected
2022 2023 2024 2025 2026
REVENUES
Property Taxes $10,924,286 $11,798,229 $12,742,087 $13,761,454 $14,862,370
Sales & Other Taxes 11,481,000 12,169,860 13,265,147 14,724,314 15,607,772
Franchise Fees 3,548,000 3,621,325 3,654,221 3,796,123 3,796,123
Licenses & Permits 954,050 1,023,422 1,066,211 1,076,873 1,087,642
Charges For Services 1,620,546 1,758,358 1,775,941 1,793,701 1,811,638
Fines and Fees 734,620 741,966 749,386 756,880 764,449
Other Revenues 703,569 707,087 710,622 714,175 717,746
Transfers 1,943,000 1,543,000 1,543,000 1,543,000 1,543,000
Total Revenues $31,909,071 $33,363,247 $35,506,616 $38,166,520 $40,190,741
Percent increase/(decrease) from previous year 3.8% 4.6% 6.4% 7.5% 5.3%

EXPENDITURES $36,247,965 $33,363,247 $35,506,616 $38,166,520 $40,190,741
Percent increase/(decrease) from previous year 14.3% -8.0% 6.4% 7.5% 5.3%

ENDING FUND BALANCE $9,192,939 $9,192,939 $9,192,939 $9,192,939 $9,192,939

Fund Balance Target (20% Expenditures) $7,249,593 $6,672,649 $7,101,323 $7,633,304 $8,038,148

Percent of current year Expenditures 25% 28% 26% 24% 23%