Accounting Terminology
General Fund: The chief operating fund of the City
Enterprise Funds: Water, Sewer and Storm Water Utilities funded by fees charged to users
Capital Outlay: Funds spent to purchase or construct buildings, machinery, vehicles, etc.
Total Fund Balance: The difference between assets and deferred outflow of resources and liabilities and deferred inflow of resources of a fund
Nonspendable Fund Balance: The portion of fund balance that cannot be spent because the underlying resources are not in spendable form
Restricted Fund Balance: The portion of fund balance that represents resources subject to externally enforceable constraints
Committed Fund Balance: The portion of fund balance that represents resources whose use is subject to legally binding constraints imposed by the City itself
Assigned Fund Balance: The portion of fund balance set aside by the City for a particular purpose
Unassigned Fund Balance: The difference between total fund balance and its nonspendable, restricted, committed and assigned components
Government-wide: The City as a whole
Governmental Activities: The City’ s basic services such as Police, Fire, Public Works and Parks which are mostly funded by property tax, sales tax and franchise fees
Infrastructure Assets: Stationary assets of the City that include streets, sidewalks, water, sewer and drainage systems
Net Pension Liability: The difference between the total pension liability( the present value of projected benefit payments to employees based on their past service) and the assets( mostly investments reported at fair value) set aside in a trust and restricted to paying benefits to current employees, retirees, and their beneficiaries
Net Position: The difference between assets and deferred outflow of resources and liabilities and deferred inflow of resources for the City as a whole
TMRS: Texas Municipal Retirement System
Trend Variances
• The City’ s increase in total net position of $ 74.7 million for the year was $ 37.3-million higher than the $ 37.4 million net position reported last year. The increase is primarily related to increased revenues in property and sales tax, operating
FY16 Important Facts
Founded |
1884 |
Incorporated |
1887 |
County |
Tarrant |
Assessed Property Values |
$ 19.6 Billion |
City Tax Rate |
$ 0.6480 per $ 100 valuation |
Sales Tax( in thousands) |
$ 102,580 |
grants and contributions, and charges for services increase in the proprietary funds. The Water and Sewer and Storm Water Utility’ s net position increased by $ 26 million in fiscal year 2016 compared to $ 19 million in fiscal year 2015.
• Governmental activities revenue increased compared to the prior year, increasing overall by 3.6 percent. Sales and property tax revenue accounted for the majority of the increase this year compared to last.
• Governmental expenditures increased approximately $ 23.5 million( 5.2 percent) from the prior year. Increases over all categories are primarily attributed to increased pension expenses. In addition, there were salary increases, expenditures for the demolition of a dangerous building and increased expenditures for building maintenance. Increases in expenses in business-type activities were primarily for the cost of purchasing water and sewage treatment.
• The 2016 General Fund assigned fund balance was $ 60.9 million with $ 0.5 million unassigned, an overall increase in the aggregate from prior year. In 2015, the comparable balances were $ 56.3 million and $ 0.5 million. Fund balance assignment changes in the General Fund include decreases in park performance and court security of $ 20,000, and $ 10,000, respectively. Increases to encumbrances, working capital and subsequent years’ expenses of $ 2.9 million, $ 1.5 million and $ 400,000, respectively, were also noted.
• Total debt of $ 696.5 million increased $ 30.4 million during the year. Debt issues in 2016 include $ 34.4 million in Permanent Improvement Bonds and $ 47.4 million in Permanent Improvement Refunding Bonds, $ 30.2 million in Combination Tax and Revenue Certificate of Obligation Bonds, $ 39.2 million in Water and Wastewater System Revenue Bonds, and $ 2.1 million bonds related to the Texas Water Development Board( TWDB) Clean and Drinking Water Programs. Bond principal payments for 2016 total $ 122.5 million on existing obligations with an additional $ 47.4 million in principal refunded. Exclusive of AT & T Stadium debt, City of Arlington debt is allocated 63 percent for general government, with the remaining 37 % to water, wastewater and storm water activities.
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