Page 59 - CityofHaltomFY23Budget

CITY OF HALTOM CITY ANNUAL BUDGET, FY2023 General Fund

OVERVIEW OF GENERAL FUND REVENUES

Total General Fund Revenues for FY2023 Licenses & Permits include building permits,
are projected to increase about $1.4 million licenses, and permits for engineering, electrical,
or 4%. The increase is due to greater plumbing, and mechanical installations.
property tax and sales tax revenues. Revenues for FY2023 are projected to increase

Property Tax is assessed on real and to $1,282,450 or 14% over last year. With the
personal property and provides 35% or $11.8 build out of one more new neighborhood, those
million of the FY2023 revenues. General Fund fees could exceed our budgeted amount.
Property Tax revenue is higher for FY2023 Charges for Services include recreation fees,
due to Increase in total assessed property inspection fees, alarm fees and changes for
values even though the rate was lowered by services provided from General Fund to other
almost four cents. funds. Revenues for FY2023 are projected to
Sales & Use Tax consists of Sales Tax and increase to $1.6 million or 17% over last year.
Mixed Beverage Tax. Taxes are collected by the Fines & Fees include municipal court fines.
State and allocated to the City. For Sales Tax, FY2023 are projected to stay at the same lavel
the General Fund received 1.375% of taxable of last year in the amount of $734,620.
sales within the City. Sales and Use Taxes
represents $11.8 million or 38% of FY2023 Other Revenues include Intergovernmental
General Fund revenues and are projected to Revenues, Interest Income and Miscellaneous
increase by 4% over the prior fiscal year. Revenues. Total Other Revenues for FY2023
are projected to be $591,269 due to stabilization
Franchise Fees are collected from utility of interest income.
companies for right-of-way usage. The (non-
city) franchise payments are from Oncor Transfers for FY2023 are projected to stay at
Electric, Atmos Gas, AT&T Cable, and Waste the same level as last year’s budgeted amount.
Management. For FY2023, Franchise Fees
provide about $3.5 million or 10% of General
Fund Revenues.

Change in General Fund Revenue FY2022 - FY2023

Property Taxes $10,924,286
$11,805,499

Sales & Other Taxes $11,481,000
$12,794,100
Franchise $3,548,000
$3,486,220
Licenses & Permits $954,050
$1,282,450
Charges For Services $1,620,546
$1,608,546
Fines and Fees $734,620
$734,620
Other $703,569
$591,269

Transfers $1,943,000
$1,519,000
FY2022 FY2023