Page 15 - City of Mansfield FY22 Operarting Budget

• Creation of a new park development fee schedule and park quadrant alignment that will provide
additional funds to develop parks and recreational venues.

• Protection of the City’s credit ratings - All rated funds with strong fund balance positions.
• The City has improved the General Fund balance to over $22,000,000.

• The City will continue to maintain and expand existing service levels.

Local Economic Factors Affecting the 2021-2022 Service Programs

• Citizen survey results that focused on improving streets and traffic congestion, continuation of public

safety funding, and enhancing community engagement and transparency.
• Improved industrial, commercial, and residential valuations.

• Increased interest in development along State Highway 360 and Highway 287.

• Increased interest in development in Historic Downtown.
• Retail, commercial, and industrial recruitment and retention.
• Sales tax revenue is estimated to increase 11% from $13,733,261 in FY 2020-2021 to $15,223,913 in
FY 2021-2022 due to increased population growth and the continued expansion of retail development.
• Improving unemployment rate after recovery from the pandemic.

• Strategic location in the Dallas/Fort Worth area - North/South corridors of Highways 360 and 287.
• A well-planned City including desirable neighborhoods, schools, and superior City services.

• Continue aggressive Economic Development programs.
• Current average household family income of $128,263.

Impact of Economy on Surrounding Area Cities

• City of Arlington - population growth based on the 2020 census of 7.9% since 2010. Major
developments include AT&T (Dallas Cowboys) Stadium, Globe Life Park, and the Arlington
Highlands retail center.
• City of Fort Worth - population growth of 24% since the 2010 census.

• Dallas/Fort Worth Region - the region’s estimated unemployment of approximately 5.3% due in part
to the impact of Covid-19.

Impact of National and Global Economies

• The national economy continues to improve into 2022 although caution remains due to the Covid-19
Delta Variant.
• The Federal Reserve monetary policy and possible rising interest rates.
• Across Texas, the unemployment rate is 5.9% compared to the national unemployment rate of 8.4%.
• Labor supply and demand.
• Continued relocation of traditional population centers to the southwest region.
• The impact of national, regional, and local distribution interruptions due to supply chain disruptions.

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