Page 63 - CITY OF AZLE, TEXAS

sales tax collections in the City of Azle have steadily increased over the last decade, even
during the COVID-19 pandemic.

Interest earnings are estimated at $590,000 in FY 2024-25, which is an increase of $90,000
over the adopted FY 2023-24 budget. This increase is the result of favorable interest rates on
the City’s invested cash reserves.

Total intergovernmental revenue is estimated at $1,120,000 in FY 2024-25, a decrease of
$989,000 (46.9%) over FY 2023-24. The decrease is the result of the fulfilment of a grant for
two (2) replacement ambulances in FY 2023-24. The majority of this revenue stream is a grant
from Tarrant County Emergency Services District No. 1 for the purchase of a replacement
ambulance.

General Fund revenue will be supplemented by $1,314,877 in transfers from other funds. The
majority of these transfers will cover costs associated with the administration of other funds that
are accounted for in the General Fund, such as the Utility Fund and Stormwater Fund. In
addition, $122,616 of the total transfer is from the Golf Course Fund and represents the final
amount needed to pay down an outstanding advance from prior years. With few exceptions, all
other sources of General Fund revenue are expected to remain fairly level.

Trend analysis played a part in estimating the revenue for the FY 2024-25 budget year in the
General Fund and several underlying assumptions were used to help staff analyze revenue
trends. The two biggest single sources of revenue in the General Fund are property taxes and
sales taxes and the trends and assumptions on these two sources were discussed above.

EXPENDITURES

The General Fund expenditure budget for FY 2024-25 is $18,268,270. This is an increase of
$340,360 (1.89%) over the adopted FY 2023-24 budget and will maintain or improve current
service and staffing levels. Factors driving this increase include the purchase of vehicles,
equipment purchases for the Street Department and Parks Department, and funding for needed
updates to the City’s zoning ordinance resulting from the adoption of a new comprehensive
master plan. New positions in this budget include three (3) Firefighter/Paramedics, two (2)

City of Azle FY 2024-2025 Budget 52