Page 88 - Bedford-FY22-23 Budget

This governmental fund is used to account for the revenue and
expenditures related to economic development related activities,
particularly as they pertain to agreements made through Chapter 380 of
the Texas Local Government Code and the City’s Economic Development
Incentive Policy and Program.
Economic Dev
Fund
Under Chapter 380 of the Texas Local Government Code, the City Council is
able to partner with local businesses using authorized tools, such as tax
rebates, to provide incentive packages for business recruitment and
retention. This fund is used to account for reimbursements upon
veri cation of compliance with each agreement's parameters.

Summary

City of Bedford, TX is projecting $302K of revenue in FY2023, which represents a 0.2% increase over the prior year. Budgeted
expenditures are projected to decrease by 81.6% or $600K to $135K in FY2023.

$800K

$600K

$ 400K
Ac tual Revenue Source
Budgeted Revenue Source
Over Budget Revenue Source
$200K
Ac tual Expenditures
Budgeted Expenditures

$0
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

City of Bedford, TX | Adopted Budget FY 2023 Page 88