Page 49 - City of Fort Worth Budget Book

Budget Highlights Revenue Highlights

Historical improvement in economic conditions demonstrated by actual receipts reported by the State
Comptroller’s Office and growth of the city has influenced growth in the past and is leading the current and future
performance of sales tax. This growth pattern was originally projected to taper through FY2024, however the most
recent collections are proving to be more resilient than originally anticipated. Sales Tax activity is expected to
continue to pick up in FY2024 and be more stable than FY2022 or FY2023.

Sales Tax is collected from a broad range of industries. Fort Worth receives a substantial amount of revenue from
the retail, general services, professional services, food and wholesale industries.

Other Taxes

Other Taxes includes, among other sources, revenue from communications providers, utilities, taxes on beverage
sales, and bingo-game receipts. The FY2024 Recommended Budget includes an increase of $22.31M, or 23.3%,
in Other Taxes. Some of the largest sources of the increase are franchise fees for gas and electric, as well as the
State Mixed Beverage Tax, which increased by $2.5M, or nearly 50%.
Licenses and Permits

Licenses and Permits are primarily made up of the building, residential, alarm, and health permit fees. Revenues
in this category are anticipated to increase by approximately $0.9M, or 3.9%, from the FY2023 budget. This is a
smaller increase than in recent years, with the majority of new revenue coming from Health Permit revenue
(increase of $0.6M).

Intergovernmental Revenue

Revenue from other government agencies is mainly made up of reimbursement for indirect costs. Revenues in
this category are projected to increase by $5.7M, or 38.2%, in FY2024. A significant source of the increase is
revenue from the Texas Comptroller, with a 29% ($2.7M) increase over FY2024 levels.
Charges for Services

Service Charges are mainly made up of administrative service charges, allocations for technology services,
deferred and penalty fees for court services, plan review fees, gas well annual fees, registration fees, site
reservations, planning commission fees, mowing fees, and fire inspection fees. Revenues in this category are
increasing $71.6M, or 9.4%, from the FY2023 budget. This revenue category is the most diverse among City
revenues, with FY2024 growth coming from internal services and allocations, utility services, and admissions to
recreational properties owned by the City.

Fines, Forfeitures, and Special Assessments

Fines, Forfeitures and Special Assessments are mainly made up of traffic fines, general fines, and parking fines.
Revenues in this category are projected to decrease by approximately $1.0M, or 13.5%, from the FY2023 budget.

Page 49