Page 141 - CityofWataugaAdoptedBudgetFY25

BUDGET SUMMARY

special revenue funds (Crime Control and Economic Development Fund). These are
projected at 5% of General Fund Revenues.

General Fund Expenditures

The operating expenditures
(including transfers) for the
General Fund total
$19,273,760. This is a 5.9%, or
a $1,074,590 increase over last
year’s budgeted expenditures,
including transfers.

Personnel expenditures make
up 73% of the General Fund’s
budget. A total of 4.25 full-time
equivalent positions were added
to the general fund this year, of
which 2.5 full-time equivalents
were previously funded by the
ARPA grant. In the FY2024-25
budget, medical insurance costs
decreased approximately 30%, and the City’s TMRS (retirement funding) was increased
by 0.89%. Also included is a 4% cost of living for all employees, civil service step
increases, and a merit increase for general government employees. A Compensation
Study was completed in July 2024 and the recommendations for compensation
adjustments have been added to the proposed budget. Police and Fire expenditures
make up 48% of the General Fund Budget.

The General Fund expenditures include $50,000 of contingency funds for unforeseen
events or emergency purchases during the year. Transfers will be made this year to the
Capital Projects Fund for miscellaneous engineering services, sidewalk replacements,
and street maintenance for a total of $648,000. Street overlays are funded this year by
previous transfers to the General Capital Projects Fund.

There will be a utilization of fund balance for one-time expenditures and programs in the
amount of $581,940 for this year and the projected ending fund balance for FY2024-25
is $8,147,837, which equates to 42% of operating expenditures in reserves. This is above
the minimum target policy of twenty-five percent (25%) by approximately $3.3 million
which may be used in future budgets for one-time expenditures, such as funding of capital
projects.

General Fund Debt Service Fund

As discussed in the General Fund section above, the City bases its ad valorem tax rate
on the certified appraisal roll provided by the Tarrant Appraisal District (TAD). A combined
tax rate is adopted each year by the City Council that funds 1) the use and support of the

121