Page 59 - HaltomCityFY25Budget

City Of Haltom City Annual Budget, FY2025 General Fund

OVERVIEW OF GENERAL FUND REVENUES

Total General Fund Revenues for FY2025 are General Fund Revenues, estimated to be $4.2
projected to increase about $1.7 million or by million in fiscal year 2025.
5.8%. Licenses & Permits is made up of building permits,

Property tax is imposed on both real and personal licenses and permits for engineering, electrical,
property, accounting for 38% of the revenues for plumbing, and mechanical installations. Revenues
fiscal year 2025, which amounts to $15.5 million. for FY2025 are projected to remain consistent at
The anticipated increase in General Fund property $1.1 million with fiscal 2024’s budget. However,
tax revenue for FY2025 is primarily driven by a with the build out of new businesses, those fees
rise in assessed property values. This increase could exceed projections.
reflects a broader trend of growing property Charges for Services include recreation fees,
valuations, which enhances the overall revenue inspection fees, alarm fees and other services
collected from property taxes, thereby providing provided. Revenues for FY2025 are projected to
essential funding for various public services and remain consistent with last year’s budget.
initiatives.
Fines & Fees are court fines. Because of the City’s
Sales & Use Tax includes Mixed Beverage population the revenues are projected to grow
Taxes. Both taxes are collected by the State by slightly, which is $0.1 million over last year’s
and forwarded to the City. The General Fund’s budget.
portion of the City’s 2% Sales Tax is 1.375%. The
remaining portion goes to other restricted funds. Other Revenues include Intergovernmental,
Sales and Use Taxes represents $14.1 million or Interest on investments income, and other
35% of FY2025 General Fund revenues. miscellaneous Revenues. Total in FY2025 is
projected to net $1.3 million.
Franchise Fees are collected from utility
companies for right-of-way usage. the franchise Interfund transfers is a $1.9 million budgeted
is paid by various vendors and provide 10% of transfer from various fund.

Change in General Fund Revenue FY2024 - FY2025

PROPERTY TAXES $13,290,015
$15,501,169
SALES & OTHER TAXES $13,660,000
$14,079,000
FRANCHISE FEES $4,224,000
$4,226,000
$1,058,700
LICENSE & PERMIT
$1,056,520
$132,500
INTERGOVERNMENTAL
$65,750
CHARGES FOR SERVICE $1,686,573
$1,722,050
FINES AND FEES $915,020
$918,900
INTEREST INCOME $765,075
$1,200,075
OTHER REVENUES $198,604
$97,600
INTERFUND TRANSFER $3,107,976
$1,910,976
$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000
FY2024 FY2025