Page 10 - CityofKennedaleFY25AdoptedBudget

August 20, 2023

To: Honorable Mayor and City Council Members
From: Darrell Hull, City Manager

Subject: Adopted FY 2024-2025 Budget for the City of Kennedale

Honorable Mayor and Council Members,

I am pleased to submit the fiscal year 2024-2025 (FY 2024-2025) City of Kennedale recommended

operating budget for your consideration. This adopted budget will be effective October 1, 2024, and close
September 30, 2025.

The development of this year’s budget has been a collaborative process with input from every member of the
City of Kennedale leadership team. The recommended budget for FY 2024-2025 is balanced and represents a

responsible spending plan while still meeting city development and growth needs. The FY 2024-2025 budget
includes a modest increase in operating expenditures.

The budget development process considers city council’s vision and priorities, the economic outlook on the
national, state, and local level, and existing and forecasted financial commitments. The development of the

budget also accounts for multi-year capital planning and investing in available resources by strategic priority.
As in previous years, the FY 2024-2025 recommended budget continues to prioritize our residents, businesses,

and our workforce while meeting the needs of a growing community.

The recommended FY 2024-2025 budget also anticipates continued positive growth in city revenues. The local

and regional economy has remained resilient despite post-pandemic inflationary driven changes seen across

many parts of the country. This budget also reflects increases in property and sales tax revenues driven by the
most current appraisals in the city.

The recommended FY 2024-2025 budget proposes an increase of $242,44.39. Although the general fund is the

primary source for most city operations, this budget also encompasses all necessary funds including water and

sewer, stormwater, franchise fees, investments, and the Economic Development Corporation (EDC) fund.
Employee recruitment and retention, equitable market compensation, new debt service, and adjustments for

inflation comprise the largest expenditure increases in this year’s adopted budget.

CITYOFKENNEDALE.COM/BUDGET 10