FY 2014 Popular Annual Financial Report FY 2014 Popular Annual Financial Report | Página 6

Financial Look Back at 2014
Trends

In Fiscal Year 2014, the City of Arlington’s financial condition continued to improve as we regained some of the
ground lost after the economic downturn. However, while revenues improved over prior years, in some cases growth
was not to the degree initially anticipated. Property taxes finished slightly under budget as revenues were again
impacted by an increase in tax value litigations. Sales tax performed well in the second half the year, but slow growth
during the first quarter resulted in lower than anticipated collections. Losses in these categories were mitigated by
strong performance in other areas such as franchise fees, building inspections, and license and permit activity. Other
indicators that economic conditions continued to improve include further declines in the local unemployment rate, an
increase in the average sales price for homes and a drop in the number of foreclosures.

Notable Accomplishments
• Progress on Center Street Bridge
Project planning is complete
and construction is under way
with completion anticipated for
the spring of 2016. The bridge
will improve mobility between
north and south Arlington and
expand access to the Arlington
Highlands, the Arlington
Municipal Airport and Tarrant
County College as well as open
up development opportunities
on the west side of the airport
and the Arlington Highlands.
Arlington will pay for the road
extension by using certificates
of obligation and then repay
that debt with property taxes
collected in the Arlington
Highlands tax increment
reinvestment zone.
• Street Maintenance Sales Tax
Renewal
On May 10th of 2014, 81% of
voters supported renewing the
Street Maintenance Sales Tax to
fund various road projects. The
four-year renewal will expire on
December 31, 2019, and provide
approximately $12-13 million
annually to maintain and repair
the City’s streets, concrete curbs
and gutters.
• Arlington Tomorrow Foundation
Reaches $100 Million
The Arlington Tomorrow
Foundation is now one of
the City’s largest charitable
6 | Popular Annual Financial Report

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foundations with $100 million in
endowed funds. The Foundation
focuses its efforts on supporting
projects that serve Arlington
residents and improve the natural
surroundings and li