Fort Worth’s new budget looks good

Fort Worth City Manager David Cooke should take a bow for the nearly $1.6 billion budget he presented to the City Council on Tuesday — so long as he doesn’t take all of the credit for its good points that derive from sacrifices and tight-fisted budgeting in recent prior years.

This is Cooke’s first Fort Worth budget. He came to work in June 2014 and a year ago mostly relied on budget preparations made before he got here.

But he has done a lot in his first year, including reorganizing how City Hall operates.

His proposed fiscal 2016 spending is up 3.8 percent from fiscal 2015. That’s a modest increase, below the popularly touted benchmark of inflation plus population growth.

The most significant part of the budget is the $610.9 million in the general fund, where most tax-supported core city spending — fire and police, community services, other operating divisions — is concentrated. The total is up 3.6 percent from fiscal 2015, again only modest growth.

The property tax rate remains at 85.5 cents for each $100 of assessed valuation for the ninth consecutive year. Of course, some property tax bills will go up with increased valuations.

Tarrant Appraisal District figures show that tax rolls this year lag behind recent market-based increases in home prices, which won’t be reflected on tax bills until next year.

The real sea change in Cooke’s budget is a shift away from deficit spending. Recent years’ budgets have been balanced by drawing down fund reserves — essentially taking money out of savings.

In fact, the city expects to have a $6.8 million surplus when fiscal 2015 ends on Sept. 30.

By the end of fiscal 2016, the fund balance is expected to be $85.4 million, with a $101.8 million target.

Holding spending in check and reasonably building reserves is the best way to prepare for any hard times ahead.

As expected — indeed, demanded by Mayor Betsy Price and the council — the new budget adds a sixth police division to improve response times in far north Fort Worth.

Cooke also would boost the pay of general employees (fire and police are under contract) and spending on infrastructure improvements.

This story was originally published August 13, 2015 at 5:59 PM with the headline "Fort Worth’s new budget looks good."