Page 51 - Grapevine FY23 Adopted Budget (1)

Key Accomplishments

A key objective of the Long-Range Financial Forecast is to meet and/or exceed the long-range
financial goals established by the City Council. The following table provides a summary of how
the FY23 budget meets the objectives.

Goal Result
Yes; Budget meets or exceeds
Sustain existing program service levels
existing levels of service.
Yes; FY23 projected ending
Maintain General Fund balance of at least 20% annually
balance is 31%
Yes; FY23 budget includes a
3% market and 3% merit
increase for general employees;
public safety employees will
th
Maintain competitive employee compensation at the 50 receive a 3% or 5% market
percentile of the market
increase and step increase. Any
employee at the top of their pay
scale will receive a 3% lump
sum payment.
Improving; FY23 budget
Adequate and stable street / facility maintenance funding partially restores full funding of
the Permanent Capital
Maintenance Fund (PCMF).
No; capital equipment will be
Cash funding of fleet, capital and technology equipment purchased with anticipated bond
replacements
proceeds.
Cap net debt service at 25% of the General Fund budget Yes; FY23 ratio is 16%
Use excess reserves to invest in “Quality of Life” capital Yes; Excess reserves will be
projects considered for QOL funding

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