The General Fund, established upon incorporation in 1960, is used to account for all financial transactions not accounted for in other funds. It is the primary fund used by most government entities. Activities paid for using the general fund constitute core administrative and operational tasks of government entities. The financial resources of this fund come from the Ad valorem tax, sales tax, franchise fees, license and permit fees, and municipal court fines. Funds from the General Fund must be used exclusively for the benefit of the general public and are appropriated annually by Council.
FY 2022 Budget Changes
- Mid-Point Market Adjustment
- Development Services - Planner
- Police - 2 Officers & 1 Traffic Officer
- Public Works - Infrastructure Inspector (50%)
- Town Manager's Office - Human Resouces Coordinator
- Longevity Pay
For the Fiscal Year 2022, the General fund revenues are projected to exceed expenditures by $184,749. Budgeted revenues total $9,131,643, with the top three revenue sources being building permits, property tax, and sales tax. Budget expenditures total $8,946,893, driven by personnel, third-party services, and internal service costs. Growth in the commercial and residential sectors brings in new revenues and increases service demand. At the time of budget adoption, the projected ending fund balance of the General Fund for FY 2022 was $4,276,277, which represented 47% of the total annual operating expenditures of the fund. This is well above the 30% recommended by the State of Texas.
Revenue & Expenditures
Ending Fund Balance
The ending fund balance is the difference between the Town's revenues and expenditures. If the Town ends up spending less than was budgeted in a given year, then the remaining funds are placed in the ending fund balance, which becomes the starting point for the upcoming year's budget.
As the population of Northlake continues to grow, so does the need for additional staff to maintain the same level of service while tackling new challenges. The chart above demonstrates how Northlake went from 29 full-time employees (FTEs) to almost 45 in 2022.
Expenditures Per Customers Served
As our population and number of customers served grows, so do the costs to provide services. Spending per person served is a metric of efficiency and discipline in financial management. Not only is the Town severing more customers, but the average cost per customer is also decreasing year over year. In the past four years, spending per person served has reduced from $640.20 to $592.90, a $47.30 decrease of 7% over four years. The primary reason for this decrease is limiting personnel growth from year to year, and only when a strong need is presented.