Page 285 - FY 24 Budget Forecast at Adoption.xlsx

TAX INCREMENT REINVESTMENT ZONE #2 FUND

FUND DESCRIPTION:
The Tax Increment Reinvestment Zone (TIRZ) #2 Fund accounts for the accumulation of resources for the reinvestment zone
created along US 377 from Wall-Price Keller to Westport Parkway. The TIRZ #2 District was created by Council in March 2021
and is an assessment of 50% of incremental values for the properties in the district. In addition, the TIRZ includes partnerships
with Tarrant County and Tarrant County College at a 50% increment. TIRZ assessments of the city are paid into the fund from
each of the participating entities.

REVENUE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)
Revenue-Tif Taxes/City $ – $ 30,436 $ 27,829 $ 154,110 $ 123,674

Revenue-Tif Taxes/Tarrant Co – 32,819 16,797 98,753 65,934

Revenue-Tif Taxes/Tccd – – 10,211 57,763 57,763

Interest Revenue-Investments – – – – –
TOTAL $ – $ 63,255 $ 54,837 $ 310,626 $ 247,371

EXPENDITURE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
EXPENDITURES BY CATEGORY: Actual Budget YE Proj. Budget Variance ($)

Personnel services $ – $ – $ – $ – $ –
Operations & maintenance – – – – –
Services & other – – – – –
Debt service – – – – –
Transfers to other funds – – – – –
Capital outlay – – – – –

TOTAL $ – $ – $ – $ – $ –

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