Page 79 - FY 2023-24 ADOPTED BUDGET

OPERATING FUNDS REVENUES

ADOPTED BUDGET

General Fund and Debt Service Fund revenues and transfers for 2023-24 are projected to be $26,076,042 and are
$1,252,156 or 5.04 percent over the 2022-23 budget of $24,823,886. General Fund revenues and transfers for
2023-24 total $24,537,643 for a net increase of $636,728 or 2.66 percent over the 2022-23 budget of $23,900,915.
Debt Service Fund revenues and transfers total $1,538,399 in 2023-24 for an increase of $615,428 or 66.68 percent

more than the 2022-23 budget of $922,971.

General Fund and Debt Service Fund revenues, excluding transfers, for 2023-24 are projected to be $25,437,557
and are $1,270,156 or 5.26 percent over the 2022-23 budget of $24,167,401. General Fund revenues for 2023-24
total $24,237,643 for a net increase of $661,728 or 2.81 percent over the 2022-23 budget of $23,575,915. Debt
Service Fund revenues total $1,199,914 in 2023-24 for an increase of $608,428 or 102.86 percent more than the
2022-23 budget of $591,486. The increase is due to new debt issued for the construction of a Municipal Complex.

PROPERTY TAX RATE AND REVENUES

The 2023-24 Budget includes lowering the property tax rate to $0.5650 per $100 valuation from $0.5950 in 2022-
23. The General Fund rate decreases to $0.5260 from $0.5740 and the Debt Service portion of the property tax
rate increases to $0.0390 from $0.0210.

The City of Benbrook is projected to experience property tax revenue growth in 2023-24 due to a net increase in
assessed valuations for Benbrook. On July 25, 2023, the Tarrant Appraisal District (TAD) provided the City with final
assessed valuation totals for use in computing property tax projections and in preparing "Truth in Taxation" notices.
Assessed valuations increased by approximately 13.9 percent in a comparison of total values.

For the Operating Funds (General Fund and Debt Service Fund), revenue from ad valorem taxes in the amount of
$17,429,157 for 2023-24 is projected to increase by $1,372,359 from the 2022-23 re-estimate of $16,056,798.
Current property tax revenue is projected to increase by $1,395,859 from $15,938,998 to $17,334,857. Revenue
from delinquent property taxes is projected to decrease by $23,500 to $93,750 compared to the prior year.

FRANCHISE TAX REVENUE

Franchise taxes are projected to decrease from the 2022-23 re-estimate of $1,306,049. Revenue from the
electrical franchise is projected to be $850,000 in 2023-24. Revenue from the natural gas franchise is projected
to be $125,000. Revenue from the telephone franchise is projected to be $40,000. Revenue from the sanitation
franchise is projected to be $100,000. Revenue from the cable television franchise is projected to be $155,000.

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