Page 79 - FY 2024-25 ADOPTED BUDGET

OPERATING FUNDS REVENUES

ADOPTED BUDGET

General Fund and Debt Service Fund revenues and transfers for 2024-25 are projected to be $28,072,612 and are
$1,996,570 or 7.66 percent over the 2023-24 budget of $26,076,042. General Fund revenues and transfers for
2024-25 total $26,532,454 for a net increase of $1,994,811 or 8.13 percent over the 2023-24 budget of $24,537,643.
Debt Service Fund revenues and transfers total $1,540,158 in 2024-25 for an increase of $1,759 or 0.11 percent

more than the 2023-24 budget of $1,538,399.

General Fund and Debt Service Fund revenues, excluding transfers, for 2024-25 are projected to be $27,432,493
and are $1,994,936 or 7.84 percent over the 2023-24 budget of $25,437,557. General Fund revenues for 2024-25
total $26,232,454 for a net increase of $1,994,811 or 8.23 percent over the 2023-24 budget of $24,237,643. Debt
Service Fund revenues total $1,200,039 in 2024-25 for an increase of $125 or 0.01 percent more than the 2023-24
budget of $1,199,914.

PROPERTY TAX RATE AND REVENUES

The 2024-25 Budget includes lowering the property tax rate to $0.5550 per $100 valuation from $0.5650 in 2023-
24. The General Fund rate decreases to $0.5193 from $0.5260 and the Debt Service portion of the property tax
rate decreases to $0.0357 from $0.0390.

The City of Benbrook is projected to experience property tax revenue growth in 2024-25 due to a net increase in
assessed valuations for Benbrook. On July 25, 2024, the Tarrant Appraisal District (TAD) provided the City with final
assessed valuation totals for use in computing property tax projections and in preparing "Truth in Taxation" notices.
Assessed valuations increased by approximately 6.75 percent in a comparison of total values.

For the Operating Funds (General Fund and Debt Service Fund), revenue from ad valorem taxes in the amount of
$18,701,693 for 2024-25 is projected to increase by $1,353,448 from the 2023-24 re-estimate of $17,348,245.
Current property tax revenue is projected to increase by $1,379,323 from $17,186,570 to $18,565,893. Revenue
from delinquent property taxes is projected to decrease by $13,500 to $72,500 compared to the prior year.

FRANCHISE TAX REVENUE

Franchise taxes are projected to decrease $36,090 from the 2023-24 re-estimate of $1,306,090. Revenue from
the electrical franchise is projected to be $850,000 in 2024-25. Revenue from the natural gas franchise is
projected to be $125,000. Revenue from the telephone franchise is projected to be $40,000. Revenue from the
sanitation franchise is projected to be $100,000. Revenue from the cable television franchise is projected to be
$155,000.

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