FINANCIAL HIGHLIGHTS 2022
The financial data shown below is intended to provide a big picture overview of key financial metrics for the past three years . This information is from selected funds and does not purport to represent all of the City ’ s component units . For ease of reading , this data is summarized in ways not in accordance with Generally Accepted Accounting Principles ( GAAP ), and the notes to the financial statements are not provided .
The City of Arlington is audited annually and prepares a full GAAP-based Annual Comprehensive Financial Report , available online at www . ArlingtonTX . gov on the Financial Reports page . For more information about the Annual Comprehensive Financial Report or other financial reporting questions , contact the Finance Department at 817-459-6300 .
FY22 IMPORTANT FACTS
FOUNDED
1884
TARRANT COUNTY
ASSESSED PROPERTY VALUES
$ 31.6 billion
INCORPORATED
1887
SALES TAX REVENUES ( in thousands )
$ 83,511
CITY TAX RATE
$ 0.5998
PER $ 100 VALUATION
TREND VARIANCES
The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by $ 2.9 billion ( net position ).
Of this amount , $ 62.5 million represents unrestricted net position , which may be used to meet the government ’ s ongoing obligations to citizens and creditors in accordance with the City ’ s fund designation and fiscal policies . The City ’ s total net position increased $ 52.7 million during the current period primarily due to increased amounts in charges for services and taxes . Governmental activities general revenue increased compared to the prior year by 6.3 %. Sales and property tax revenue accounted for most of the increase this year compared to last .
MAJOR EMPLOYERS
Arlington Independent School District University of Texas at Arlington General Motors Co . Texas Health Resources Six Flags Over Texas The Parks at Arlington
Overall , expenditures increased approximately $ 70.3 million GM Financial ( 11.6 %) from the prior year . Increases are primarily attributed to increased spending for various projects and increased costs for purchases . Business-type activities expenses remained relatively close to prior year levels .
The 2022 General Fund assigned fund balance was $ 73.9 million with $ 6.6 million unassigned , an overall decrease in the aggregate from the prior year . In 2021 , the comparable balances were $ 60.6 million and $ 24.4 million . Fund balance assignment changes in the General Fund include increases in assigned reserve accounts subsequent years ’ expenditures and working capital of $ 6.9 million and $ 3.9 million . The City ’ s total outstanding long-term debt of $ 1.5 billion increased $ 35.2 million during the year . Debt issued in 2022 include $ 83.2 million in Permanent Improvement Bonds , $ 20.3 million in Water and Wastewater System Revenue Bonds and $ 9.5 million in Stormwater Revenue Bonds . Exclusive of special venue debt , City of Arlington debt is allocated 63 % for general government , with the remaining 37 % to water , wastewater and storm water activities .
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