Page 15 - KennedaleFY24AdoptedBudget

C I T Y M A N A G E R ’ S O F F I C E
405 MUNICIPAL DRIVE | KENNEDALE, TX 76060
OFFICE: 817-985-2102 | CELL: 817.565.4531 | FAX: 817-483-0182

August 20, 2023

To: Honorable Mayor Joplin and Council

From: Darrell Hull, City Manager
Subject: Proposed FY 2023-2024 Budget for the City of Kennedale

Mayor Jan Joplin and Council Members,

I am pleased to submit the fiscal year 2023-2024 (FY 2023-2024) City of Kennedale recommended operating
budget for your consideration. This proposed budget will be effective October 1, 2023, and close September

30, 2024.

The development of the budget has been a collaborative process with input from every department and the City

of Kennedale leadership team. The recommended budget for FY 2023-2024 is balanced and represents a
responsible spending plan for the upcoming fiscal year while still meeting future city development and growth

needs. The FY 2023-2024 budget includes a modest increase in operating expenditures.

The budget development process considers city council’s vision and priorities, national, state, and local

economic outlooks, and existing and future financial commitments. The development of the budget also
accounts for multi-year capital planning and investing in available resources by strategic priority. The FY 2023-

2024 recommended budget continues to prioritize our residents, businesses, and our workforce while meeting

the needs of a growing community as in previous years.

The recommended FY 2023-2024 budget also anticipates continued positive growth in city revenues. The local

and regional economy has remained resilient despite post-pandemic inflationary driven changes seen in other
parts of the country. The budget reflects increases in property and sales taxes driven by increased property

values in the city.

The recommended FY 2023-2024 budget proposes an increase of 1,129,122.28, or 15.8% over FY 2022-2023.

Although the general fund is the primary source for most city operations, this budget also comprises all
necessary funds to include water and sewer, stormwater, franchise fees, investment funds, and the Economic

Development Corporation (EDC) fund. Employee recruitment and retention, equitable market compensation,
new debt service, and adjustments for inflation comprise the largest expenditure increases in this year’s

C I T Y O F K E N N E D A L E . C O M / C M O