Page 128 - City of Fort Worth Budget Book

General Fund Economic Development

DEPARTMENT SUMMARY

Chg from PY Adopted
FY2023 FY2024 FY2024 FY2025
Final Adopted Adjusted Rec. Amount %
Revenues
Charge for Service — 135,000 135,000 88,969 — 0.0 %
Use of Money & Property 187,769 952,920 952,920 958,844 5,924 0.6 %
Other 20,500 6,000 6,000 6,000 — 0.0 %
Transfer In 1,000,452 853,273 853,273 725,588 (127,685) -15.0 %
Use of Fund Balance — — 386,470 — —
Total Revenues 1,208,721 1,947,193 2,333,663 1,779,401 (121,761) (6.3) %

Expenses
Salaries & Benefits 1,843,741 2,472,752 2,472,752 2,491,528 18,776 0.8 %
Gen Operating & Maintenance 35,495,353 37,800,468 38,186,938 38,097,647 297,179 0.8 %
Transfer Out & Other 5,755,760 9,273,910 9,273,910 9,110,140 (163,770) -1.8 %
Total Expenses 43,094,854 49,547,130 49,933,600 49,699,315 152,185 0.3 %
Grand Total $ (41,886,133) $ (47,599,937) $ (47,599,937) $ (47,919,914) $ (273,946) 0.6 %

2024 2025 Change
Fund AP FTE AP FTE AP FTE
General Fund 18.00 18.00 18.00 18.00 — —
Grant Funds 4.00 4.00 4.00 4.00 — —
Total 22.00 22.00 22.00 22.00 — —

DEPARTMENT PURPOSE AND GOALS

The Economic Development Department pursues high-wage job growth and a more sustainable tax base, driven
less by residential property valuation and more by commercial and industrial investment, and it has a commitment
to "quality of place" throughout the community. This effort supports the vision of competing successfully on the
national and international stage for creative, high-growth businesses and the talented individuals who fuel them.
The Economic Development Department accomplishes this through three divisions: Compliance, TIFs/PIDs, and
Research; Revitalization, Small Business, and Workforce; and Recruitment and Retention.

The Compliance, Tax Increment Financing Districts (TIFs), Public Improvement Districts (PIDs), and Research
Division oversees the development and implementation of departmental goals, objectives, policies, and priorities.
In addition, overall operational activities, including budget key performance indicators (KPIs), oversight of TIFs
and PIDs, compliance with Chapter 380 and tax abatement agreements, research of economic trends and
demographics, and administration of component units, payroll, and human resources functions.

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