Financial Highlights

Statement Of Activities

(Changes in Net Position)

Irving’s fiscal year runs Oct. 1 to Sept. 30. The city’s statement of activities for fiscal years ending September 30, 2020-2022 are shown in the chart below.

ACTIVITIES/CHANGES IN NET POSITION

FY 2021-22 Net Position

$1,207,812,836

Over time, increases or decreases in the city’s net position may be an indication of whether the financial situation of the city is improving or deteriorating.

The City of Irving’s overall net position increased 11% or $123 Million from the prior fiscal year.

Net Investment In Capital Assets

As of September 30, 2022,

THE FUND BALANCE OF THE GENERAL FUND WAS $100.9 Million

General Fund Balance

The most significant portion of net position ($990.2 Million) is invested in capital assets. Irving uses these capital assets to provide a variety of public goods and services to its residents. For that reason, these assets are not available for future spending. Irving’s investment in capital assets is reported net of related debt.

Restricted Net Position

82% Capital Assets

General Fund balance represents city reserves and amounts nonspendable, committed assigned or unassigned for special purposes. These are shown for the fiscal years ending September 30, 2020-2022 in the chart below:

This portion of net position ($99.7 Million) is restricted, representing funds that are limited to construction activities, payment of debt or specific programs by law.

Unrestricted Net Position

The remaining portion of net position ($117.9 Million) is unrestricted, representing resources that are available for services.