FY 2011 Popular Annual Financial Report FY 2011 Popular Annual Financial Report | Page 7

Financial Look Back at 2011

register online. The City also publishes its Quarterly Budget Analysis

Despite the challenging economy, the City was able to issue $15.6

million in General Obligation Bonds and $1.7 million in Certificates

Report online.

of Obligation for capital improvement projects. The City’s Water

Utility issued $13.8 million in revenue bonds for water and sewer

Officers Association (GFOA) with their Certificate of Achievement for

improvements. We were able to take advantage of low interest rates

Excellence in Financial Reporting for the FY 2010 CAFR, and met

and did $53 million in bond refundings, saving the City $2.9 million.

the Security and Exchange Commission’s transparency requirement

The City was also recognized by the Government Finance

through continuing financial disclosure. The City also received the
Celebrate

Distinguished Budget Award from GFOA.

Super Bowl XLV was a significant celebration for the City in FY

Fiscal year 2011 proved to be a year to “Challenge, Change,

2011. Thanks to sales and occupancy tax generated by the event, the

Celebrate, and Congratulate.” Arlington has risen to the challenges

City was able to cover all of its expenditures associated with the big

created by the sluggish

game.

economy, ensuring the

organization can operate

Fiscal year 2011 also saw the Texas Rangers go to the World

Series. The associated sales and occupancy taxes generated by

efficiently and effectively

residents and visitors to Arlington allowed sales tax to remain strong.

in a time of declining

We ended a tough year one percent over expected sales tax revenues.

revenues. City staff,
working with the Mayor

Congratulate

and City Council,

made decisions that

The City was fortunate to be recognized for its strong financial

condition and its financial transparency.

have demonstrated

The City of Arlington was recognized for a second time by the

that they are good

State of Texas Comptroller of Public Accounts for meeting the highest

fiscal stewards of

standards in financial reporting and transparency by making financial

taxpayer dollars.

documents readily available to the public. The City’s first award for

financial transparency was in 2010.

of this report, as we

look forward, we will

The Texas Comptroller Leadership Circle program, launched in

At the end

December 2009, recognizes local governments that strive to meet

finish out the theme

high standards for financial transparency. The City of Arlington

from the City Manager’s

supports fiscal transparency, believing that citizens should know how

Office and “Consider the Possibilities.”

their tax dollars are being spent. The City posts its Annual Operating
Budget, Annual Business Plan, Comprehensive Annual Financial
Report (CAFR), Popular Annual Financial Report (PAFR), and check

tulate, and Consider the Possibilities”

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