FINANCIAL UPDATE The adopted FY20 budget represents the City of Weatherford’s blueprint of the programs and services it will provide to its citizens. The budget process is an ongoing exercise in balancing revenues and expenditures while giving City stakeholders an opportunity to evaluate its priorities. The overall strategic direction of the City is what dictates where resources will be placed.Valued input from City Council, citizens, and staff are necessary to make this a plan for success. The most recent adopted budget, FY2019-2020, allocates $58.8 million of the $59.0 million in anticipated revenues to fund services across the City with the balance of revenues ($0.2 million) increasing reserves for future services and projects. Initiatives addressed in this budget includes upgrading of public infrastructure across the City, the integration of a new Enterprise Resource Planning System, planning for a comprehensive vehicle and major equipment rotation fund, and making plans to initiate large-scale capital improvements. 1% FINES AND FORFEITURES $480,200 1% LANDFILL ROYALTIES $500,000 1% LICENSES $657,800 2% MISCELLANEOUS REVENUE $897,932 3% OTHER TAXES $1,731,200 3% INTERGOVERNMENTAL REVENUE $1,967,650 11% SERVICE CHARGES $6,776,352 15% INTERGOVERNMENTAL SERVICES $9,070,208 15% TRANSFERS AND OTHER SOURCES $9,138,915
25% SALES TAXES $14,940,000
14 ANNUAL REPORT | 2019-20
22% PROPERTY TAXES $12,833,581
