FY 2014 Popular Annual Financial Report FY 2014 Popular Annual Financial Report | Page 2
Mayor’s Message
Mayor’s Message
2
City Council
3
City Manager’s Message
4
Strategic Plan
5
Financial Look Back
6
Financial Planning Cycle
8
City Profile
9
Identifiable Brand
10
Economic Development
11
Regional Mobility
12
Thriving Community
14
Quality Education
16
Achievements 18
Financial Highlights
20
Looking Forward
23
2 | Popular Annual Financial Report
Dear Reader,
On behalf of the entire Arlington City Council, I am pleased to present the 2014
Popular Annual Financial Report. We publish this document annually to share data
and other information about our municipal organization’s accomplishments in an
open and transparent manner. We believe that increased transparency improves the
public’s understanding, our ability to govern, and therefore, the quality of life in our
community.
Fiscal Year 2014 saw the continuation of several positive trends including a
decreasing crime rate, the lowest level in years, and increasing sales tax revenue,
the highest level in our history. Property values are on the rise and foreclosures
are on the decline. We have maintained our AAA bond rating, which shows that the
City Council’s strong, conservative governing principles are working. Additionally,
a number of City departments have also received endorsements from accrediting
agencies in the areas of parks, water, finance, housing, public safety, libraries and
public works.
Arlington remained focused on economic development during 2014. One
major area of our economy is tourism, and during 2014 we hosted George Strait’s
final concert at AT&T Stadium which was the largest concert in North American
history. Other major events held in our Entertainment District over the past year
included the Cotton Bowl Classic in January and the Final Four Tournament in
March. Arlington has become the destination for thriving businesses such as
Williams Sonoma and Vought. And we are investing in our economy by improving
our infrastructure with $80 million worth of road projects under way during the
past year. Key developments included work on Abram Street and the Center
Street bridge over I-20. Arlington voters assisted this effort by renewing the street
maintenance sales tax this past year - a move that will provide $12 million annually
to make sure our roads are maintained. Voters also approved a $236 million bond
package that included additional money for our roads and to improve our library and
parks, as well as providing funding to rebuild an outdated fire station.
During the past year, we also launched the City’s new brand, “Arlington,
The American Dream City.” The new brand works because it is an authentic
representation of our city, the 50th largest in the country and home to Six Flags Over
Texas, the GM Assembly Plant, the Texas Rangers and the AT&T Stadium. Our size
and the activities occurring here increasingly put Arlington on the state, national and
international stage. Our brand incorporates all elements of Arlington - our parks
and neighborhoods, downtown, educational opportunities from elementary schools
to Tarrant County College and UT Arlington, our business community and the
Entertainment District.
As we close the books on 2014, we see the positive trend continuing. I’m proud
of the work that has been done by Council and staff and pleased to offer this report
on the financial status of our great city. The Council and I remain confident that our
best days are ahead. I hope you will find this report useful and invite you to share
your feedback with us.
Sincerely,
Robert N. Cluck, M.D.
Mayor
[email protected] | 817.459.6121