Page 134 - FortWorthFY23AdoptedBudget

General Fund

Financial Management Services

DEPARTMENT SUMMARY

Change from FY2022
FY2021 FY2022 FY2022 FY2023
Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax 457,543,379 481,721,693 481,721,693 531,785,972 50,064,279 10.39%
Sales Tax 188,151,694 182,885,742 196,135,742 212,147,461 29,261,719 16.00%
Other Tax 53,639,500 51,916,757 51,916,757 54,117,017 2,200,260 4.24%
License & Permits 579,280 498,910 498,910 419,695 (79,215) -15.88%
Intergovernmental 130,916 121,200 121,200 121,200 - 0.00%
Charge for Service 11,444,706 12,654,182 12,654,182 13,789,473 1,135,291 8.97%
Other 572,627 372,091 372,091 651,273 279,182 75.03%
Transfer In 36,464,471 35,914,299 35,914,299 37,786,061 1,871,762 5.21%
Use of Fund Balance - - 20,000 - - 0.00%
Revenue $748,526,574 $766,084,874 $779,354,874 $850,818,152 $84,733,278 11.06%

Salaries & Benefits 9,291,058 9,549,468 9,665,543 10,456,254 906,786 9.50%
Gen Operating & Maintenance 2,443,896 3,173,280 3,196,205 3,302,479 129,199 4.07%
Transfer Out & Other 1,743,000 - - - - 0.00%
Expenses $ 13,477,954 $ 12,722,748 $ 12,861,748 $ 13,758,733 $ 1,035,985 8.14%

2022 2023 Change
Fund AP FTE AP FTE AP FTE
General Fund 91.00 90.50 94.00 93.50 3.00 3.00
Grant Funds - 0.50 - 0.50 - -
Total 91.00 91.00 94.00 94.00 3.00 3.00

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 Annual Comprehensive Financial Report (Annual Report) and coordinates the

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