Page 53 - CityofMansfieldFY24Budget

and global economies, leading to a somewhat conservative approach in forecasting
revenues and expenditures. All the while, the City is seeing continued growth in its
residential, commercial, and industrial sectors of its economy, and employment
percentages are expected to remain healthy in the City. The overall economy of the State
is stable, as Texas is a leader in the exportation of goods around the world. The State of
Texas and the North Texas region are doing well, and the signatures of fundamental
growth are present. The City expects these trends to continue, barring any unforeseen
economic calamity.

Growth expectations are based on projected population estimates by the City’s Planning
Department. Support for these population projections is corroborated by the continued
growth in the North/Central Texas region.

Population Estimates

140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

The near-term financial trends present favorable operating conditions within the City, and
Management will continue to monitor the near-term trends as projections are based on
healthy economic conditions within the City. Measurement indices of fiscal policies will
be monitored by Management as well. Continued assessment of the economy will
condition Management’s actions and responses in adjusting the revenues and expenses of
the City’s primary activities.

Strategic Plan Highlights

Population

Estimated by the end of 2024: 86,774
Estimated by the end of 2033: 134,097

Expected population increases create the need for housing stock, infrastructure, and retail
development. According to the U.S. Census Bureau, in the decade of 2001 to 2010, the
City added some 30,000 residents, and in the decade of 2011 to 2020, the City added

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