Page 82 - Bedford-FY24-25 Budget

This fund was created in FY 2020-2021 to account for the Tax Reinvestment Zone. The
Tax Increment City participates in the zone at 75% of the incremental value, both Tarrant County and
Financing Tarrant County College District participate at 50% of the incremental value. This fund
(TIF) Fund accounts for the revenues and expenditures associated with the zone. As this fund is
new and the Zone was only recently created, there are no expenses in this fund at this
time.

Summary

City of Bedford, TX is projecting $113.47K of revenue in FY2025, which represents a 55.2% increase over the prior year.
Budgeted expenditures are projected to remain at $0 in FY2025.

$125K

$100K

$75K

$50K Ac tual Revenue Source
Budgeted Revenue Source
Ac tual Expenditures
$25K
Budgeted Expenditures
$0
FY2021 FY2022 FY2023 FY2024 FY2025

Tax Increment Financing (TIF) Fund Comprehensive Summary

Name FY2022 FY2023 FY2024 Amended FY2024 FY2025
Ac tual Ac tual Budget Projec ted Budgeted
Beginning Fund Balance: N/A $0 $80,120 $80,120 $195,168
Revenues
Property Taxes $0 $79,204 $73,000 $110,710 $110,000
Miscellaneous Income $0 $916 $100 $4,338 $3,470
Total Revenues: $0 $80,120 $73,100 $115,04 8 $113,470

Total Revenues Less
$0 $80,120 $73,100 $115,04 8 $113,470
Expenditures:
Ending Fund Balance: N/A $80,120 $153, 220 $195,168 $308 ,638

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 82