Page 7 - NEXT YEAR BUDGET DETAIL REPORT

staff and elected officials keep this at the front of our minds as we prepare our plans and priorities
for each budget cycle. With that, we are pleased to present the proposed FY 2024 Combined
Annual Operating Budget for the City of Colleyville. This budget includes program funding for
first responders, infrastructure maintenance, utility support, parks and recreation facilities, and all
supporting administrative efforts. It was developed to not only provide for the needs of today but
to meet the needs well into the future. Our budget is balanced and prepared in accordance with
state law, the Colleyville City Charter, ordinances, and budget policies.

BUDGET OVERVIEW

Colleyville provides a full range of municipal services provided through operating funds (utilizing
taxes, fines, fees and service charges, primarily), special revenue funds (utilizing sales taxes and
hotel taxes), and capital project funds. Whenever possible, the most restrictive funding source is
used first, ultimately limiting the costs borne by the primarily property tax-supported general fund.

The combined expenditures of the City’s major operating funds are as follows:

FY 2024 General Utility Fund Drainage Debt Service Hotel Tax
Adopted Fund Fund Fund Fund

Revenues $28,554,942 $24,102,616 $1,482,143 $1,238,871 $202,000

Expenditures $26,717,262 $24,102,616 $ 738,386 $1,235,460 $188,532

One measure of a City’s financial strength is its level of reserves. While the City Council has
approved a conservative fiscal policy of a 90-day reserve requirement, the City’s operating funds
are projected to exceed the minimum requirement as of September 30, 2023. Additionally, any
operating surplus experienced by our operating funds at the end of the fiscal year will be moved
to one of our capital funds to assist in cash-funding our 5-year capital improvement plan.

Fund Type Number of Amount as of Estimated Capital
Days 9/30/23 Transfer FY23 Year-
End
General 112 $ 7,703,669 $2,097,037

Utility 147 $7,827,583 $1,667,823

Drainage 363 $ 718,287 $ 323,159

Debt Service 157 $ 455,393

Hotel Tax 121 $ 90,732

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