The Irving City Council has unanimously adopted the Fiscal Year 2023-24 (FY24) budget, amounting to $998.8 million, aimed at maintaining a tax rate of $0.5891 per $100 valuation. The budget, considered structurally balanced, focuses on sustaining the city’s service levels while addressing workforce competitiveness, inflation, and supply chain challenges. It also earmarks funds for service enhancements, new projects, and equipment.
The FY24 budget primarily allocates resources to the General Fund and various capital projects and equipment, such as 'Road to the Future,' 'Drainage Solutions for a Better Tomorrow,' and 'Let’s Play Irving: Elevating Aquatics and Recreation.' Additionally, it supports significant projects endorsed by voters in the 2021 Bond Election held in May 2021.
The heart of the budget, the General Fund, totaling $289,456,559, supports essential city operations including public safety, public works, parks and recreation, libraries, community development, and internal services. This fund is primarily sustained through property and sales tax collections.
City officials have provided detailed graphics illustrating the breakdown of fund allocations. These graphics offer residents a transparent view of how each dollar is utilized, funding various services, facilities, utilities, and capital projects.
The fiscal year for the City of Irving commences on October 1 and concludes on September 30 each year. Irving, home to nine Fortune 500 corporate headquarters, boasts over 8,500 businesses, four 18-hole championship golf courses, and is served by the DFW International Airport. With a population exceeding 256,000 residents, the city stands as one of the most culturally diverse cities in both the state and the nation.