Page 86 - Bedford-FY23-24 Budget

This fund was created in FY 2021-2022 to account for the Tax Reinvestment
Zone. The City participates in the zone at 75% of the incremental value,
Tax Increment
both Tarrant County and Tarrant County College District participate at 50%
Financing
of the incremental value. This fund accounts for the revenues and
expenditures associated with the zone. As this fund is new and the Zone
(TIF) Fund
was only recently created, there are no expenses in this fund at this time.

Summary

City of Bedford, TX is projecting $73.1K of revenue in FY2024, which represents a 10.0% increase over the prior year. Budgeted
expenditures are projected to increase by 100% or $0 to $0 in FY2024.

$80K

$60K

$ 40K
Ac tual Revenue Source
Budgeted Revenue Source
Ac tual Expenditures
$20K
Budgeted Expenditures

$0
FY2022 FY2023 FY2024

Tax Increment Financing (TIF) Fund Comprehensive Summary

Name FY2021 Actual FY2022 Actual FY2023 Adopted Budget FY2023 Projected
Beginning Fund Balance: N/A N/A N/A N/A
Revenues
Property Taxes $0 $0 $66,450 $66,450
Total Revenues: $0 $0 $66,450 $66,450

Total Revenues Less Expenditures: $0 $0 $66,450 $66,450
Ending Fund Balance: N/A N/A N/A N/A

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 86