Page 50 - Bedford-FY24-25 Budget

The General Fund functions as the primary operating fund for the City of Bedford. It is
a governmental fund and considered a major fund. It is used to account for resources
traditionally associated with governments, which are not required to be accounted
for in another fund. Several revenue sources support expenditures in this fund
General Fund including ad valorem tax, sales tax, franchise taxes, charges for service, licenses,
permits, and other miscellaneous categories of revenue. The General Fund accounts
for such functions as general government, administrative services, police, re, public
works, planning and community development, and parks and community services.

Summary

City of Bedford, TX is projecting $47.21M of revenue in FY2025, which represents a 3.9% increase over the prior year. Budgeted
expenditures are projected to increase by 6.4% or $2.99M to $49.69M in FY2025.

Ongoing revenues remain above ongoing expenditures, with a budgeted draw down of reserves for one-time capital
purchases. The fund balance remains above policy reserve levels and is in line with best practices.

$60M

$50M

$ 40M

$30M
Ac tual Revenue Source
$20M Budgeted Revenue Source
Ac tual Expenditures
Budgeted Expenditures
$10M
$0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

General Fund Comprehensive Summary

Name FY2022 FY2023 FY2024 Amended FY2024 FY2025
Ac tual Ac tual Budget Projec ted Budgeted
Beginning Fund Balance: $15,663, 885 $8 ,436 , 311 $11,720,695 $11,720,695 $12 ,130,781
Revenues
Property Taxes $17,789,765 $19,908,443 $20,925,810 $20,752,638 $21,789,504
Sales Taxes $11,398,992 $11,957,598 $12,605,818 $12,605,818 $12,859,114
Other Taxes $238,371 $247,236 $250,000 $222,568 $225,000
Franchise Fees $2,956,107 $2,843,695 $2,898,000 $2,868,203 $2,873,000
Licenses And Permits $1,183,658 $1,097,629 $847,850 $1,369,340 $1,080,890
Fines & Forfeitures $1,064,230 $1,413,990 $1,145,200 $1,374,293 $1,330,500
Charges For Services $2,517,599 $2,497,901 $2,294,334 $2,510,347 $2,522,440

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 50