Page 37 - WestworthVillageFY25ApprovedBudget

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ECONOMIC DEVELOPMENT (WRA) FUND

Economic Development (Westworth Redevelopment Authority) is funded by a ¼ cent citizen-
authorized sales tax. Expenses are restricted, but this account typically covers golf course
deficits, parks/landscape, and administration. This reimburses the general fund for one full-
time and one part time position for facilities maintenance, including parks and trails, associated
vehicle and equipment needs, maintenance of the medians, alleyways, and various city
common areas.

Economic Development (WRA) Fund Overview

Proposed Proposed Proposed Proposed Proposed
2025 2026 2027 2028 2029
REVENUE
Sales Tax $ 384,796 $ 388,644 $ 392,531 $ 396,456 $ 400,421
Additional Revenue $ 5,000 $ 5,000 $ 6,000 $ 6,000 $ 6,000
Misc Revenue $ - $ - $ - $ - $ -
Total Revenue $ 389,796 $ 393,644 $ 398,531 $ 402,456 $ 406,421

EXPENSE
Building, Parks, & Land $ 129,591 $ 112,685 $ 117,074 $ 120,915 $ 124,906
Administration $ 106,000 $ 106,000 $ 106,000 $ 81,000 $ 81,000
Total Expenses $ 235,591 $ 218,685 $ 223,074 $ 201,915 $ 205,906

Goals and Objectives:

Goal: Increase sales tax through sustainable commercial growth
1. Objective: Create an attractive commercial district to sustain commercial business
and attract new businesses
2. Objective: Create city parks and amenities and improve city landscapes, providing
opportunities and areas for citizens to get out and improve their health and
wellbeing

Performance Indicators:

FY 2024 FY 2025
Goal Indicator FY 2021 FY 2022 FY2023
Projection Budget
1 Sales Tax growth 9% 5% 7% 2% 1%
2 Create city parks 1 1 0 0 0

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