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APPROVED BUDGET FISCAL YEAR 2022-2023

6.97%, the tax rate includes a reduction of approximately 1 cent and is well below the MCI and
other measures of inflation which impact the city’s operations.

We continue to focus on the Council’s strategic priorities with an emphasis on financial
sustainability. The FY 2022-2023 budget is supported by an increase in property values and
growth in sales tax revenue. While these are good indications, we continue to focus on overall
economic indicators and trends. We are still in an era of economic uncertainty and facing the
challenge of inflation both in goods and services, as well as inflation in the wage and labor market.
The city is predominantly a service organization which requires significant investment in
personnel to continue to attract and retain a talented workforce. Recent legislative changes to

limits on property tax revenue present a challenge during inflationary periods; however, staff has
proposed a balanced budget while remaining below the Voter Approval Tax Rate. Tax rate
consideration by voters is mandatory for cities in Texas that exceed the Voter Approval Rate.

Consistent with the Strategic Plan, we remain committed to protecting and enhancing the city’s
tax base and will continue to monitor and adapt to ever changing economic conditions. Through
conservative and focused efforts, the city will be able to continue to provide quality public
services to all Hurst residents and guests. Hurst remains a great city with a special connection to

its community. Our “can do” attitude and positive outlook helped us through the pandemic and
will continue to support us through 2023. I appreciate the hard work and dedication of city staff,
especially from those that help develop the annual budget. The work we do to serve our
community is a true team effort through the Hurst Way and Code of Ideals. Our Code of Ideals
continue to provide the basic framework of expected behaviors exhibited by our employees.
And, the Hurst Way establishes that we are passionate about public service, we strive to provide
the best customer service possible, and we will work to remain fiscally responsible in all of our
actions. We will continue to plan appropriately, manage through challenges, and take advantage
of economic development opportunities.

Sincerely,

Clay Caruthers,
City Manager

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