Page 45 - CityofHaltomFY24Budget

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

WHERE THE MONEY COMES FROM - BY FUND TYPE WHERE THE MONEY GOES - BY EXPENDITURE TYPE

Actual EOY Estimated Budget Change from FY2023 Actual EOY Estimated Budget Change from FY2023
Revenue FY2022 FY2023 FY2024 to FY2024 Percent Expenditure FY2022 FY2023 FY2024 to FY2024 Percent
General Fund 35,048,016 35,936,191 38,195,478 $2,259,287 6% Personnel $28,052,996 $33,046,412 $36,790,224 $3,743,811 11%
Debt Service Fund $13,500,844 8,068,656 7,365,016 ($703,641) -9% Operations $23,844,211 $28,191,902 $33,992,926 $5,801,024 21%
Special Revenue Funds $2,965,459 3,237,393 4,558,291 $1,320,898 41% Capital Outlay $9,365,603 $22,825,200 $54,988,128 $32,162,928 141%
Capital Project Funds $14,073,618 $20,839,950 11,477,662 ($9,362,288) -45% Debt Service $14,262,741 $9,332,252 $9,307,309 ($24,943) 0%
Water and Sewer Fund $25,210,279 24,658,200 26,053,200 $1,395,000 6%
Drainage Fund $1,936,409 1,878,160 1,862,500 ($15,660) -1% Transfers $12,034,896 $15,955,000 $10,625,585 ($5,329,415) -33%
Total $92,734,624 $94,618,550 $89,512,146 ($5,106,404) -5% Total $87,560,447 $109,350,766 $145,704,172 $36,353,405 33%

Personnel – Are the salaries and benefits costs associated with all employees. Council

General Fund is the general operating fund of the City. It provides a broad spectrum of programs approved a 7% salary increase and for the City to cover the increased insurance premiums for
and services such as police, fire, parks and recreation, public works, and administrative services. employees. Four new positions were added City-wide.
Most of the revenue comes from property tax, sales taxes, franchise fees, permits & inspections. Operations – Decision packages were added this year to help the departments perform their
Total General Fund revenue is 5% less, because of less transfers than in the previous budget. duties with maximum efficiency. Departments make every opportunity to offset additional cost

Debt Service Fund is used for the accumulation of resources specifically for the payment of both and inflation, by find savings in operational expenses. Operational expenses include supplies,
principal and interest on long-term governmental debt. Financing is provided primarily by property maintenance, and contracts for the operations of the City.
tax and transfers from other resources. Capital Outlay – Expenditures in capital project funds and large capital purchases are capital

Special Revenue Funds are used to account for revenue sources that are legally restricted to be outlays. Many of the projects span multiple years and are expected to increase in FY24 because
spent for specified purposes, meaning they must be spent for specific purposes outlined by law or of the planned parks, streets, water and sewer, building the new Law Enforcement Center, and
regulation. Revenues include sales tax, special fees, and donations. the new City Hall projects.

Capital Project Funds are used to account for all major capital improvements are financed certificates Debt Service – The debt is used for the accumulation of resources specifically for the payment
of obligation, general obligation bonds, intergovernmental grants, developer contributions, and of both principal and interest on both general government debt service and proprietary debt
other designated resources. service. No new debt was issued in FY23 or planned in FY24.
Transfers - Fewer transfers are budgeted in FY24 to cover debt service payments, capital
Water and Sewer Fund provides water and sewer services to the City. Major revenue comes from project operations and related debt.
charges for services. Increases in revenues are mainly due to new commercial water and sewer
accounts. Revenues help cover operational and capital expenditures.

Drainage Fund is for recording revenues and expenses related to watershed and storm water
drainage improvements.

FY2024 All Funds Total Revenue $89,512,146 (By Fund Type) FY2024 All Funds Total Expenditure $145,704,172 (By Expenditure Type)
45,000,000 $54,988,128
40,000,000 38,195,478
35,000,000 $36,790,223.67
30,000,000 26,053,200 $33,992,926
25,000,000
20,000,000
15,000,000 11,477,662 $9,307,309 $10,625,585
10,000,000 7,365,016 4,558,291
5,000,000 1,862,500
- Personnel Operations Capital Outlay Debt Service Transfers
General Fund Debt Service Fund Special Revenue Funds Capital Project Funds Water and Sewer Fund Drainage Fund