Page 42 - CityofHaltomFY24Budget

City Of Haltom City Annual Budget, Fy2024 Budget Overview City Of Haltom City Annual Budget, Fy2024 Budget Overview

SUMMARY OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
MAJOR SOURCES OF REVENUES
ALL CAPITAL PROJECT FUNDS (CITY-WIDE)
Major sources of revenue are taxes, licenses and charges for operating services, and bond issues
for capital improvement funds.
Street Capital Capital Street Water and Drainage
Reconstruction Improvement Replacement Assessments Sewer Capital Impact Fees Capital Total
Fund Fund Fund Fund Projects Fund Fund Projects Fund
Taxes and Franchise include property tax, sales and use taxes, and franchise fees. Property
tax estimates are based on current property values, new construction, and the adopted tax
Beginning Balance $17,171,521 $45,536,978 $1,282,754 $25,031 $28,821,565 $3,310,210 $7,374,887 $103,522,946
rate. Estimates for sales and use taxes are adjusted according to the economic locally and
nationally. A more prudent and strategic approach to fiscal planning is necessary when possibly facing
BUDGETED REVENUES
Property Taxes - - - - - - - - economic uncertainties, particularly a recession. Property taxes are budgeted on values of properties
Sales & Other Taxes 3,500,000 - - - - - - 3,500,000 determined by the Tarrant County Appraisal District, the City’s tax rate, and the expected collection
Franchise Fees - - - - - - - - rate. New growth and the increased values from new developments adds to the City’s property
Licenses/Permits/Fees - - - - - 425,000 - 425,000 values and will continue to increase revenues while allowing tax rate reductions in this formula.
Intergovernmental Revenues - - - - - - - - Franchise taxes have been adjusted based on laws affecting telecommunications in past years.
Charges For Service - - - - - - - -
Fines & Fees - - - - - - - - Licenses & Permits, Charges for Services, Fines, and Fees include licenses, permits, charges
Bond Proceeds - - - - - - - - for services, and fines. Trend analysis and known new development projects are used to project
Miscellaneous Revenues 118,486 338,349 9,054 100 196,188 19,954 20,531 702,662 the charges for services.
Interfund Transfers - - 850,000 - 5,800,000 - 200,000 6,850,000
TOTAL REVENUES 3,618,486 338,349 859,054 100 5,996,188 444,954 220,531 11,477,662 Intergovernmental revenues are grants from other governmental entities. The City receives
grants for Streets, Police, Fire, Drainage, Parks, and Library.
BUDGETED EXPENDITURES
Personnel - - - - - - - - Other revenues are donations, interest income, and other miscellaneous revenues.
Operations 480,000 - - - - 160,000 100,000 740,000
Capital Outlay 5,320,000 32,102,128 900,000 - 10,195,000 - 3,730,000 52,247,128 Transfers are transactions between funds. Transfers include administrative fees, fleet service
Debt Service - - - - - - - - fees, debt service payments, and billing fees.
Interfund Transfers 900,000 - - - - - - 900,000
TOTAL EXPENDITURES 6,700,000 32,102,128 900,000 - 10,195,000 160,000 3,830,000 53,887,128
Bond Proceed are a way to raise funds for major capital projects and infrastructure improvements.
Ending Balance $14,090,007 $13,773,199 $1,241,808 $25,131 $24,622,753 $3,595,164 $3,765,418 $61,113,480 Although bond revenues show in the year they are received, repayment expenses can carry for
multiple years.

THE MONEY COMES FROM BY REVENUE TYPE
WHERE THE MONEY COMES FROM - BY REVENUE TYPE
FY2024 All funds Total Revenue $89,512,146 (By revenue type)
Actual EOY Estimated Budget Change from FY2023 Percent 35,000,000
Revenue FY2022 FY2023 FY2024 to FY2024 Charges For Service
Property Taxes 18,569,485 19,089,306 20,441,443 $1,352,137 7% 30,000,000 Sales & Other Taxes 28,963,573
Sales & Other Taxes 19,082,541 19,336,619 19,839,781 503,162 3% 19,839,781
Franchise 3,527,393 3,627,546 3,430,000 (197,546) -5% 25,000,000 Property Taxes
Licenses & Permits 1,715,459 1,333,700 1,733,700 400,000 30% 20,000,000 20,441,443
Intergovernmental 466,227 505,500 836,855 331,355 66%
Charges For Service 27,739,821 27,165,700 28,963,573 1,797,873 7% 15,000,000 Transfers
Fines & Fees 2,083,952 1,935,220 1,552,024 (383,196) -20% Licenses & Permits 10,625,585
Bond Proceeds 6,412,385 300,000 - (300,000) N/A 10,000,000 1,733,700
Other 1,102,466 5,369,959 2,089,186 (3,280,774) -61% 5,000,000 Franchise Fines & Fees Other
3,430,000
Transfers 12,034,896 15,955,000 10,625,585 (5,329,415) -33% Intergovernmental 1,552,024 Bond Proceeds 2,089,186
836,855
Total $92,734,624 $94,618,550 $89,512,146 ($5,106,404) -5% - -