Page 29 - FY 2023-24 ADOPTED BUDGET

new municipal complex with an economy is experiencing high inflation and the potential of a recession. As a result
of these challenges, the 2023-24 Budget is very lean and essentially flat from the prior year with only one decision
package approved.

BALANCING THE BUDGET

The 2023-24 Budget provides a balanced plan for municipal services from October 1, 2023 through September 30,
2024. Operating Fund (combined General Fund and Debt Service Fund) expenditures and transfers out included in
the 2023-24 Budget total $26,070,272. General Fund expenditures total $24,237,643 and Debt Service Fund
expenditures total $1,532,629. Operating Fund (combined General Fund and Debt Service Fund) revenues and

transfers in total $26,076,042. General Fund revenues total $24,237,643 and Debt Service Fund revenues total
$1,199,914. The transfer of $338,485 is scheduled from the Stormwater Utility Fund to the Debt Service Fund, and
a transfer of $300,000 from the Sanitation Fund to the General Fund. The transfer of $300,000 is scheduled for
transfer from General Fund to the Capital Projects Fund. No reserves were required to balance the Budget.

OPERATING FUNDS

Debt Total
General Service Operating
Fund Fund Funds

BEGINNING FUND BALANCE $ 19,107,869 $ 458,901 $ 19,566,770

REVENUES AND TRANSFERS IN
Revenues 24,237,643 1,199,914 25,437,557
Transfers In 300,000 338,485 638,485
TOTAL REVENUES AND TRANSFERS IN $ 24,537,643 $ 1,538,399 $ 26,076,042

EXPENDITURES AND TRANSFERS OUT
Expenditures 24,237,643 1,532,629 25,770,272
Transfers-Out 300,000 - 300,000
TOTAL EXPENDITURES AND TRANSFERS OUT $ 24,537,643 $ 1,532,629 $ 26,070,272

NET CHANGE TO FUND BALANCE $ - $ 5,770 $ 5,770

ENDING FUND BALANCE $ 19,107,869 $ 464,671 $ 19,572,540

The 2023-24 budget includes only one decision package. With the COVID-19 virus pandemic, the Texas Senate Bill
2 3.5% property tax cap, high inflation, possibility of a recession, and the construction of a new municipal complex
it was decided that this budget year the City should better position itself for these potential unknowns and loss of

revenue.
USE OF RESERVES

For the 2023-24 Budget, the Benbrook City Council established $8,000,000 as the ideal minimum reserve total for
the combined operating funds (General Fund and Debt Service Fund). In 2023-24, the Council expects to meet this

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