Financial Highlights
About Arlington
Founded : 1884 Incorporated : 1887 County : Tarrant County Assessed Property Values : 35.7 billion City Tax Rate : 0.5998 per $ 100 valuation Sales Tax Revenues ( in thousands ): $ 89.039
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 .
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 $ 3 billion ( net position ). Of this amount , $ 226.3 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 $ 104.5 million during the current period primarily due to increased amounts in property taxes and investment activities .
• Governmental activities general revenue increased compared to the prior year by 11.1 %. Property tax and interest revenue accounted for most of the increase this year compared to last .
• Overall , expenditures increased approximately $ 25.6 million ( 3.8 %) from the prior year . Increases are primarily attributed to an increase in public safety and parks capital expenditures .
• The 2023 General Fund balance was $ 86.5 million , with $ 1.1 million unassigned , an overall increase in the aggregate from prior year . In 2022 , the comparable balances were $ 82.4 million and $ 6.6 million . Fund balance assignment changes in the General Fund include increases in assigned reserve accounts subsequent years ’ expenditures of $ 5.5 million and decrease in working capital reserve of $ 900,000 .
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 GM Financial
$ 25.6M
Expenditures Increased from the Prior Year
$ 86.5M The 2023 General Fund
• The City ’ s total outstanding long-term debt of $ 1.5 billion decreased $ 50 million during the year . Debt issues in 2023 included $ 59.9 million in Permanent Improvement Bonds , $ 14.7 million in Permanent Improvement Refunding bonds , $ 7.2 million and $ 5.9 million in Water and Wastewater System Revenue bonds and $ 4.7 million in Stormwater Revenue bonds . Exclusive of special venue debt , City of Arlington debt is allocated 64 % for general government , with the remaining 36 % to water , wastewater and storm water activities .