Page 6 - Bedford-FY24-25 Budget

Transmittal Letter

Andrea Roy, City Manager

October 1, 2024

Honorable Mayor, Council Members, and Bedford Community Members –

I respectfully submit to you the Fiscal Year (FY) 2024-2025 Budget for the City of Bedford. This represents the annual
nancial plan and allocation of public resources for the coming year. The budget was developed with a focus on progressing
toward the City’s goals and providing excellent day-to-day services to Bedford residents.

The total budget for FY 2024-2025, including capital purchases, debt service commitments, Street Improvement Economic
Development Corporation’s maintenance projects, and transfers between funds, is $97,573,613. This represents a decrease of
$810,222, or -0.82 percent when compared to the FY 2023-2024 amended budget. This increase is primarily related to one-
time items or capital projects.

The City’s objective is to provide quality services that re ect the community’s goals and vision within reasonable scal limits.
The program of services, which is the City’s annual scal budget, is developed in alignment with the City Council’s strategic
plan, as well as the desires of Bedford residents. The budgeting process seeks to allocate nite resources to maintain quality
service levels. As such, Bedford must continue to assess how the decisions of today impact the ability of the City to be
successful over the long-term.

The City’s estimated net taxable values grew by 6.09 percent or $385 million. Therefore, the total net taxable values included
in this year’s budget is $6,719,501,658. Even though the community is 98% developed, the City of Bedford still witnessed a
7.25% increase in residential values, as well as an increase of .96% and 9.28% respectively among the commercial and
industrial valuations.

The tax rate for the FY 2024-2025 Budget will be $0.495726 per $100 assessed valuation. This is the same tax rate in the FY
2023-2024 Adopted Budget. While the City experienced an increase in Worker's Compensation Insurance rate, utilities and
fuel, this budget allows for the continuation of the Public Safety Step Pay Plan and adds additional funding for digital
content and events/programs in the Library. Additionally, this budget allows for an increase in operational funding for the
Senior Center Facility, increasing the Flock Camera system for Police, and enhanced security cameras for our facilities. There
are several one-time items as well, including an ambulance remount for the Fire Department, Christmas decorations for
Generation Park and a replacement mower for Parks.

This past year, the City was able to accomplish many items. Renovations started on the Senior Center Facility. City Council
approved a design contract for the Animal Shelter, Central Fire Station and Stations 2 and 3.

This budget would not be possible without the efforts the Mayor and City Council for their guidance and support
throughout the development of this document. It is a collaborative effort and involves employees at all levels of the
organization, City Manager’s Of ce, Department Directors, and their staff. A very special thanks goes to Senior Budget
Analyst, Anda Upchurch, for all the hard work, patience, and determination she has demonstrated throughout this process.
Thank you to Assistant City Manager Caryn Riggs and Finance Director Brady Olsen, who spent long hours providing
thoughtful and detailed analysis in producing this comprehensive document for your consideration. I’d also like to thank the
other staff members that helped contribute to this plan to provide excellent services to the residents of Bedford.

Respectfully,

Andrea Roy

City Manager

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 6