DEBT
During FY22 , the City took advantage of the low cost of borrowing and issued $ 83.2 million in Permanent Improvement Bonds to make various capital improvements . The City issued $ 20.3 million in Water and Wastewater System Revenue Bonds ( WWS ) for the purposes of improving and expanding existing water and wastewater . The City issued $ 9.5 million in Municipal Drainage Utility System Revenue for the purpose of improving and expanding existing drainage infrastructure .
The City issued $ 9.5 million of TIRZ Bonds to make various WWS , storm water , streets , parking , and park improvements in the district . During the year , the City paid down principal of $ 46.3 million of outstanding Permanent Improvement Bonds and Certificates of Obligation , $ 23.3 million of outstanding WWS bonds , $ 3.5 million of outstanding storm water bonds , and $ 4.8 million of outstanding venue bonds .
IN FY22 , THE CITY PAID DOWN :
$ 46.3 million
of Permanent Improvement Bonds and Certificates of Obligation
$ 23.3 million of WWS bonds
$ 3.5 million of storm water bonds
$ 4.8 million of venue bonds
AWARDS
The City continued to be recognized for its outstanding financial reporting efforts . At the inception of the program , the City of Arlington Finance Department was only the third local government entity in the state to receive all five transparency stars through the Texas Comptroller ’ s transparency program . The Comptroller ’ s office launched the Transparency Stars program in March 2016 to recognize cities , counties and school districts making strides to greater government transparency by providing easy online access to important financial data .
The City of Arlington has earned stars for transparency in traditional finances , contracts and procurement , economic development , public pensions and debt obligations .
The Certificate of Achievement for Excellent in Finance Reporting for our 2021 Annual Comprehensive Financial Report and the Certificate of Outstanding Achievement in Popular Annual Finance Reporting for our 2021 PAFR are still pending with GFOA , however it is anticipated that these awards will be bestowed again for 2021 as they have been historically .
PRIORITIES
Each year , the City Council identifies community priorities that guide the allocation of the City ’ s resources . Council met at a strategic retreat in the spring of 2021 and chose the following priorities for FY22 :
Support Youth and Families
Invest in Our Economy
Enhance Regional Mobility
Leverage Technology
Champion Great Neighborhoods
Build Unity
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