Page 21 - CityofMansfieldFY23Budget

• Sales tax revenue is estimated to increase 20% from the FY 2021-2022 budget of 15,223,913 to
$18,285,023 in FY 2022-2023 due to increased population growth and the continued expansion of
retail development.
• Improving unemployment rate after recovery from the pandemic.

• Strategic location in the Dallas/Fort Worth area - North/South corridors of Highways 360 and 287.
• A well-planned City including desirable neighborhoods, schools, and superior City services.

• Continue aggressive Economic Development programs.
• Current average household family income of $135,329.

Impact of Economy on Surrounding Area Cities

• City of Arlington - population growth based on the 2020 census of 7.9% since 2010. Major
developments include AT&T (Dallas Cowboys) Stadium, Globe Life Park, and the Arlington
Highlands retail center.

• City of Fort Worth - population growth of 24% since the 2010 census.

• Dallas/Fort Worth Region - the region’s estimated unemployment of approximately 3.4% due in part
to the impact of Covid-19 has improved compared to the long-term average of 5.23%.

Impact of National and Global Economies

• The increasing cost of fuel and supplies/materials.
• The Federal Reserve monetary policy and rising interest rates.
• Labor supply and demand – lingering effects of Covid-19 on the workforce.
• Continued relocation of traditional population centers to the southwest region.
• The impact of national, regional, and local distribution interruptions due to supply chain disruptions.

Mission for Fiscal Year 2022-2023

City management developed priorities and goals based on strategic planning meetings with City Council,
staff and various boards and commissions. These meetings were held to allow for City Council’s input in
developing the City’s Long-Term Strategic Plan and priorities for the FY 2022-2023 Budget.
Management and City Council also revised the Strategic Plan to incorporate revenue and expense
estimates in relation to the national, state, and local economy. Management met with key staff members
to allow input in the development of the FY 2022-2023 Budget. Similar themes, priorities and goals were
identified by both City Council and the City’s staff for the upcoming budget year.

“The mission of the City of Mansfield, Texas is to

create a vibrant city for people and businesses that

value world class experiences, culture, quality and a

second-to-none level of community service in a
hometown environment.”

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