FY 2008 Popular Annual Financial Report FY 2008 Popular Annual Financial Report | Page 6

A Look Back at 2008
Fiscal Planning and Accomplishments
The City of Arlington begins planning for the year with the
Mayor and City Council strategic planning effort, which includes
significant community input. The results of this plan are
incorporated into the City’s business plan and the supporting
operating and capital budgets.

team. Initially, the City expected the principal and interest
on the Stadium to be paid out over 30 years. Revenues in FY
2008 were actually up almost 19 percent from the base year.
Because of this stronger revenue performance, we now expect
the principal and interest to be paid in 18 years.
Total Revenues 2008
$426,364
(in thousands)

In August 2007, the City Manager presented the 2008 proposed
roadmap in the form of the $198.5M and $16.7M operating
and capital budgets, respectively, along with the year’s business
plan. After gaining significant feedback from the community,
the Mayor and City Council voted unanimously to approve the
plans in September.
Significant Fiscal Matters in 2007 Include:
Appointment of the 2008 Bond Election Committee. Citizens
met for several weeks to determine what projects should be
part of the election and ultimately the City’s capital program.
The recommendations of this committee were further vetted
by the Planning and Zoning Commission and the City Council,
and were approved overwhelmingly by the public in November
2008. The election authorization included streets, parks,
libraries, and fire and police facilities.
The City issued its 2007 Comprehensive Annual Financial Report
CAFR earning Government Finance Officers Association’s
Certificate of Achievement for Excellence in Financial Reporting
and also distributed its SEC required continuing disclosure.
In June the City issued $39.9M in Permanent Improvement and
Refunding Bonds and $6M in Certificates of Obligation. In the
ratings process for these issuances, Standard & Poors upgraded
the City’s GO and CO debt to AA+. The City issued $16M and
refunded $8M in GO Commercial Paper. In addition, $34M in
Certificates of Obligation were issued for the Entertainment
District.
The City established a Water and Wastewater $40M commercial
paper program to provide funding options for its CIP. The City
also entered into a $38M program in Texas Water Development
Bonds for the expansion of the John F. Kubala Water Treatment
Plant. The City continued work on the 2.3 million square-foot
stadium that we are building with the Dallas Cowboys football

Popular Annual Financial Report for 2008

Other $30,950

Taxes
$205,531

Interest Revenue
$13,939
Licenses and Permits
$4,650
Leases, Rents and
Concessions$7,363
Water and Sewer
Fines and Forfeitures
$104,946
$10,515
Utility Franchise Fees
Charges for Services
$25,994
$22,476

Our Funding Reserves
Through thoughtful conservative financial planning, Arlington
has been able to achieve the community’s priorities while
keeping a watchful eye on the City’s financial foundation. The
City’s Reserves are well funded, and at levels that will ensure our
financial security through difficult economic times. As a matter
of policy, rather than spending recently-acquired new ɕٕ