FY 2015 Popular Annual Financial Report FY 2015 Popular Annual Financial Report | Page 6

Financial Look Back at 2015
Trends

Continuing to build on the prior year’s modest growth trend, Fiscal Year 2015 was a year of overall positive
financial outcomes for the City of Arlington. Consumer confidence continued to strengthen, and the dramatic drop in
gasoline prices created more disposable income for the average consumer. The City also benefited from major events
at AT&T Stadium (including the first ever NCAA national championship football game in January) and a strong season
by the Texas Rangers as the team successfully competed for a berth in the 2015 MLB playoffs. Sales tax revenues
saw its strongest increase in several years, exceeding the budget by $1.27 million (2.34%). Revenues were higher than
the prior year’s monthly collections in 9 out of 12 months which represents an increase of 5.5% above FY14 sales tax
receipts. Additionally, activity in the City’s Entertainment District brought strong growth in Hotel Occupancy Taxes
(HOT). FY15 HOT receipts were 7.5% higher than FY14.

FY15 was impacted in other
ways as well. In May of 2015, a
local referendum on the City’s Red
Light Camera program resulted in
the termination of the program and
loss of approximately $2.5 million
annually in revenue to support

Notable Accomplishments
• Phase 1 of the Central Library
Project in downtown Arlington
kicked off in Fiscal Year 2015
as design plans were finalized
with Council and citizen input.
The 80,000-square-foot library
will aim to meet growing needs
for technology
and education
programming
while providing
rooms that can
accommodate
any gathering,
from small study
groups to large
community meetings. Over the
summer, the City solicited input
from Council and the public on the
design and fea