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Fort Worth reports $29 million in net FY24 operations gain; $47 million identified for capital but council urged to weigh priorities
Summary
City Manager David Cook reported preliminary unaudited FY2024 figures showing a $29 million net operations surplus, higher interest income and a projected ending general fund balance of about $332 million; staff identified roughly $47 million available for capital projects and proposed increasing the unassigned reserve target to 22 percent.
Fort Worth’s preliminary, unaudited financial results for fiscal year 2024 show the city closed the year with an improved general-fund position, the city manager reported at the Jan. 14 work session.
Lede: City Manager David Cook told council the city fell short of its FY24 revenue forecast by about $11 million — chiefly $6 million in property tax and $12 million in sales tax shortfalls — but spent about $40 million less than budgeted, yielding a $29 million net operations surplus. Combined with strong interest income for the year, the unaudited ending fund balance was roughly $332 million.
Why it matters: Cook and finance staff outlined both the improvement in available funds and the trade‑offs the council faces. Staff recommended modestly increasing the unassigned general-fund reserve…
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