Page 120 - CityofWataugaAdoptedBudgetFY25

BUDGET SUMMARY

that have accrued over long periods of time. When fund balances are used, the remaining
fund balances are well above the minimums approved by Council. These balances
throughout the various City’s Funds are used to provide as much economic relief to our
citizens as possible, while still providing a financially sound and strong municipal
organization.

BUDGET HIGHLIGHTS – ALL FUNDS

Revenues from all funds
total $49.3 million in
comparison to last year’s
$56.7 million. Prior year
revenue included $8.950

million in anticipated
proceeds from the 2023
Certificates of Obligation

debt issuance, and grant
funds (American Rescue Act
Plan and Tarrant County

Street Funding) of $7.2
million. In FY2024-2025,
Property and Sales tax
make up 41% of all
revenues, followed by

charges for services at 27%

of all revenues. Grant
Revenues make up 12% of revenues and include ARPA and Tarrant County Street
funding totaling $5.79 million. Bond proceeds are not budget for in
ALL CITY FUNDS TOTAL
BUDGET VARIANCE
FY2023 FY2024 FY2025 EST FY2024 TO
ACTUAL FY2024 BUDGET ESTIMATE BUDGET FY2025
Estimated Revenues
Taxes / Assessments 10,220,724 11,365,500 11,527,300 12,225,000 7%
Sales Tax 7,695,042 8,011,000 7,863,300 7,937,980 -1%
Licenses and Permits 783,980 762,700 831,450 825,500 8%
Franchise Fees 904,302 917,500 873,500 883,500 -4%
Intergovt Revenue 514,000 503,000 503,000 562,000 10%
Charges for Service 12,063,925 12,185,660 12,269,960 13,175,160 8%
Fines & Forfeitures 508,588 606,800 537,200 637,800 5%
Interest on Investments 1,803,728 1,950,700 2,383,750 1,886,100 -3%
Grant Revenue 2,642,940 7,200,000 1,391,000 5,702,049 -26%
Miscellaneous/Bond Proceeds 10,620,208 9,866,200 8,397,846 1,109,700 -789%
Operating Transfer In 3,921,765 3,280,000 3,730,000 4,328,640 24%
Total Current Year Revenues 51,679,202 56,649,060 50,308,306 49,273,429 -15%

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