FINANCIAL Highlights
ABOUT ARLINGTON, TEXAS Founded: 1884 Incorporated: 1887 County: Tarrant County Assessed Property Values: $ 40.99 billion City Tax Rate: $ 0.5898 per $ 100 of assessed value Sales Tax Revenues: $ 91.4 million
The financial data shown 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 GAAPbased 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 $ 3.1 billion( net position). Of this amount, $ 48.5 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 $ 104 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 0.91 %. Property tax and interest revenue accounted for most of the increase this year compared to last.
• Overall, governmental expenditures increased approximately $ 19.2 million( 3.4 %) from the prior year. Increases are primarily attributed to an increase in public safety and operational costs.
• The 2024 General Fund balance was $ 97.8 million, with $ 6.01 million unassigned, an overall increase in the aggregate from prior year. In 2023, the comparable balances were $ 86.5 million and $ 1.1 million. Changes in fund balance in the General Fund are primarily due to the increase to the event trust fund reserve.
• The City’ s total outstanding long-term debt of $ 1.6 billion remained essentially the same compared to the prior year. Debt issues in 2024 included $ 75.9 million in Permanent Improvement Bonds, $ 7.7 million in Permanent Improvement Refunding Bonds, $ 30 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 65 % for general government, with the remaining 35 % to water, wastewater and storm water activities.
• Net Position: Ended the year at $ 3.1 billion, with $ 48.5 million unrestricted.
• Revenue Increase: General revenue up by 2.35 %, mainly from property taxes and investments.
• Expenditure Growth: Rose by $ 19.2 million( 3.4 %), largely due to higher public safety and operational costs.
• General Fund: Balance of $ 97.8 million, with $ 6.01 million unassigned.
• Long-Term Debt: Stable at $ 1.6 billion, with new debt issues totaling about $ 123.1 million.
• Debt Allocation: 65 % for general government, 35 % for utility services.