City of Irving Popular Annual Financial Report, FY2020-21

POPULAR ANNUAL FINANCIAL REPORT

Fiscal Year Ended September 30, 2021

Annual Report

City of Irving, Texas

FISCAL YEAR

2020-21

MESSAGE FROM THE MAYOR From the world-renowned Williams Square Plaza Mustangs in Las Colinas’ “Headquarters of Headquarters” to award-winning exotic cuisine, live entertainment, arts and culture – Irving, Texas, Mayor Richard H. Stopfer sets the bar with premier accessibility, service delivery and inclusive amenities. Located in the Dallas-Fort Worth (DFW) Metroplex adjacent to the DFW International Airport, Irving balances a residential, neighborhood feel with a thriving, urban community filled with unique shopping, fun things to do and great food.

CONTENTS

The 2020 U.S. Census reaffirmed the city’s greatest asset: Irving is a multinational and multicultural melting pot. The population grew 18.6% over the past 10 years and is projected to top 304,680 by 2030. Irving is also home to one of the oldest black freedmen's settlements in Dallas County (Bear Creek Community) and boasts a diverse Hispanic/Latin American population of 41% Hispanic (2020 U.S. Census).

City Council, Governance

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About Irving, City Manager Message

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The multicultural layers across the city are one of Irving’s greatest features, and the diverse tapestry also supports a mixture of unique shopping, dining and cultural experiences in Irving.

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Thank you for Reading the City of Irving – Popular Annual Financial Report (PAFR)

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Last year, the city’s inaugural PAFR won the Government Finance Officers Association (GFOA) Award of Excellence.

History, City Profile, Demographics Access, Amenities, Lifestyle, Vibrant Economy A Look Ahead, A Look Back

5

Financial Highlights

6-11

The City of Irving’s annual report provides a community profile, accomplishments and activities overview, as well as high-level, easy-to-read budgetary, financial and trend data.

I hope you enjoy learning more about our fantastic city!

Glossary of Terms

11

Accomplishments, Awards

12

Stay Informed, Social Media

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Richard H. Stopfer Mayor

Irving City Council The City of Irving is governed by a council-manager form of government where the City Council sets city policy and the City Manager is responsible for implementing that policy and managing city operations.

The council consists of a mayor and eight council members who are elected for three-year terms. Elected officials are under a mixed system, which includes three at-large districts (Mayor, place 2 and 8), and six singlemember districts (places 1, 3, 4, 5, 6 and 7).

EMAIL Mayor and City Council members

ccouncil@cityofirving.org

Left to Right: Kyle Taylor, Dennis Webb, John C. Danish, Al Zapanta, Mark Zeske, J. Oscar Ward, Allan E. Meagher, Phil Riddle, Mayor Richard H. Stopfer

COUNCIL MEETINGS

Irving City Council meetings are held on designated Thursdays at 7 p.m. in the Council Chambers at Irving City Hall, 825 W. Irving Blvd.

Work Sessions are held prior to council meetings and begin at various times depending on the agenda. Work Sessions are open to the public in the first floor Council Conference Room at Irving City Hall, 825 W. Irving Blvd.

Check specific meeting agendas to confirm start times.

Visit CityofIrving.org/Agendas for meeting dates, agendas and instructions for speaking at council meetings.

Meetings are streamed live at ICTN.tv and on local cable channels. On-demand meeting archives are available at CityofIrving.org/ICTN-on-Demand or ICTN.tv.

Governance 903 and Incorporated in 1914

Founded in 1

2,246 Full-Time-Equivalent City Employees The City of Irving is Governed by an Mayor, Single-District Council Members and At-Large District Council Members

At-Large

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Irving is in the Heart of North Texas and Home to One of the Most Diverse Zip Codes in the Nation – 75038

Irving, TX

Two

21 Appointed Boards, Commissions and Committees with Almost 200 Irving Residents Serving Various Volunteer Functions

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ABOUT IRVING Our Vision

Irving will be the model for safe and beautiful neighborhoods, a vibrant economy and exceptional recreational, cultural and educational opportunities.

Our Mission

Deliver exceptional services and promote a high quality of life for residents, visitors and businesses.

Value Statements

We have PRIDE in all that we do. We are:  Professional in our interactions with the community, our customers and each other. R esilient means we never give up in our quest for service excellence.  I nnovative by always seeking out better ways to achieve our goals. D ependable in our actions and desire to see our work through completion.  E thical through commitment to always do right for our city, residents and coworkers.

The financial data highlighted in the Popular Annual Financial Report (PAFR) is designed to provide a summary view of the city’s financial activities for Fiscal Year 2020-21 (FY21). Information included in this report can be found in greater detail in the FY21 Annual

Comprehensive Financial Report (ACFR) located at CityofIrving.org/ACFR City of Irving

, Texas

FISCAL YEAR1

or contact the Finance Department by mail at 825 W. Irving Blvd., Irving, TX 75060 or by phone at (972) 721-2401. The Financial Report was prepared in accordance Annual ensive with Generally Accepted Comprehl Report Financia ended ar Ye l Accounting Principles ca for the Fiser 30, 2021 Septemb (GAAP) and was audited by independent certified public accounting firm Weaver and Tidwell, L.L.P. 2020-2

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MESSAGE FROM THE CITY MANAGER

Chris Hillman

Moving the City of Irving forward requires balancing strategic financial planning with community needs and expectations.

From an annual budget standpoint, funding priorities must be refined and distributed so that city resources are maximized across 67.9 square miles to more than 256,000 residents and 10,000-plus businesses. Establishing the budget each year is the city’s highest priority and provides a roadmap for the projects and work plans for the year ahead.

By the Numbers

The City of Irving manages 80 facilities totaling 1.2 million square feet, 80 parks totaling almost 2,000 acres, 32 miles of trails, 7,000+ amenities, 730 miles of water infrastructure, 670 miles of sewer pipes and 2,940 lane miles of roads, streets and striping.

Future in Focus Strategy

The city's 5-year operational strategic plan is called our Future in Focus. Each city department presented Future in Focus presentations to City Council in 2021. The presentations provided an in-depth overview of each department and five-year plans for projects, services, programs and staffing. As a result of the exercise, Future in Focus will serve as the city’s operational strategic plan framework for all services, starting with Fiscal Year 2021-22. This plan works in tandem with the city's 5-year capital plans such as Road to the Future and Drainage Solutions for a Better Tomorrow.

Chris Hillman City Manager

History of Irving

Settlers came to the area that is now Irving in the 1850s, and communities

such as Sowers, Kit, Shady Grove, Union Bower, Finley, Estelle and Bear Creek sprang up in the last half of the 19th century. The new town of Irving, founded in 1903 by J.O. Schulze and Otis Brown, eventually included most of these settlements. Irving was officially incorporated April 14, 1914.

Schulze and Brown, who were employed by the Chicago, Rock Island & Gulf Railway, arrived in 1902 to survey a railroad route between Fort Worth and Dallas. Having decided that this area would be an ideal town site, they bought 80 acres from the Britain family in 1902. The co-founders sold the first town lots at a public auction on Dec. 19, 1903. The post office at nearby Kit was moved to Irving in 1904.

CITY PROFILE Irving: An Exceptional Community

Nestled between Dallas and Fort Worth, Irving is the model of an urban area that offers big city amenities with a suburban feel. Appealing to residents, businesses and visitors, the city maintains some of the lowest taxes, fees and water rates in North Texas, and Irving has been recognized for its high-quality parks, golf courses and dining options.

Downtown Irving is part of the larger Irving Heritage District, which includes unique areas that make up the heart of Irving.

The tapestry of land uses comprise some of Irving’s most historic and picturesque areas, such as Centennial Park, Heritage Park and Main Street Plaza. Several city facilities are located within walking distance of downtown

Irving, including the Civic Center Complex (City Hall), the Jack D. Huffman Community Building (Irving Archives and Museum), South Irving Library and the Heritage Senior Center.

Irving’s Las Colinas is home to the largest office park in North Texas. With more than 26 million square feet of office space, 221 buildings and 7,500 tenants, Irving is a corporate powerhouse.

More than 10% of Fortune 500 companies are located here, including eight corporate headquarters. Significant nonprofit operations also call Irving home, including Big Brothers Big Sisters, Boy Scouts of America and Mothers Against Drunk Driving.

Centrally located in the region, state, nation and world, Irving serves as an integral global transportation hub. Residents and businesses enjoy easy access to national and international air travel, regional and national highways, and regional public transit.

Demographics Population

256,684 (2020 Census)

67.9

Area in Square Miles

Hispanic, Any Race

21.0%

RACE BREAKDOWN (2020 Census)

Median Family Income

$72,951 (2019 ACS)

Other, NH

3.2%

40.8%

White

41.1%

Bachelor’s Degree or Higher Black

(2019 ACS)

12.4%

Asian

22.3%

Median Age

32

(2019 ACS)

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Vibrant Economy 8 FORTUNE 500 HEADQUARTERS    

E xxon Mobil Kimberly-Clark Vistra Energy Celanese

   

McKesson Fluor Pioneer Natural Resources Commercial Metals

4 FORTUNE 1,000 HEADQUARTERS  Michaels  Flowserve

New Investments

$214.1 Million

 Nexstar Media Group  Darling Ingredients

Number of Businesses

Daytime Population

10,000+

328,045

ECONOMIC INCENTIVE AGREEMENTS

 C reated 377 New Jobs

Access  Amenities  Lifestyle

Home of DFW International Airport and Adjacent to Dallas Love Field Airport

Trinity Railway Express (TRE) with Two

Stations in Irving Connecting Passengers to Destinations Throughout Dallas and Tarrant Counties Dallas Area Rapid Transit (DART) Commuter Rail Line

and Local Buses

The DART Orange Line has Six Stops in Irving, connecting to both Airports

 699,000 Square Feet of New/Retained Commercial Space

$ 177.3 Million in New Annual Taxable Sales Sourced to the City  C ombined $11.0 Million in Net New Taxable Value on Real Property and Business Personal Property A ssisted with More Than 12 Real Estate Transactions and Economic Incentive Agreements

By the Numbers

 253,533 Jobs in Irving

 $717.6 Million in Construction Valuation

Four 18-hole Championship Golf Courses

1 2,761 Permits Issued

More than 80 Parks, 32 Miles of Trails, Four Libraries and a Newly Remodeled Municipal Golf Course

 80.8% Office Occupancy Rate

Smithsonian-Affiliated Arts Center, Four Museums, Three Symphonies and Award-Winning Theater Productions Home of Toyota Music Factory, an Entertainment and Restaurant Complex featuring the 8,000person capacity The Pavilion at Toyota Music Factory and Texas Lottery® Plaza

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R etained 1,703 Current Jobs

5 ,310 High Wage Jobs Added and Retained  94.0 Million Sq. Ft. Commercial Space Occupied

TOP 10 PRIVATE EMPLOYERS Citi Verizon Communications Accenture Christus Health DFW International Airport

6,688 3,260 2,235 2,000 1,700

Vistra Energy Microsoft Corporation Irving Mall YRC Freight Michaels Corporation

5,400 2,858 2,100 1,941 1,358

A Look Back

A LOOK AHEAD

Completed $11.8 million in parks projects including Levy Event Plaza, Georgia Farrow Recreation Center expansion, Sam Houston Trail Park renovation, Rock Island Bike and Pedestrian Trail and Delaware Creek Trail Connector.

HIGH PROFILE EVENTS

SH 183/ SH 114/ SL 12/ SP 482 (IRVING INTERCHANGE)

 P rofessional golfers and 50 celebrity players are coming to Irving for the inaugural ClubCorp Classic at the Las Colinas Country Club April 19-24, 2022.

PROJECT FACT SHEET

TEXAS DEPARTMENT OF TRANSPORTATION

The SH 183 Midtown Express design-build PROJECT OVERVIEW project also recently completed interim The project will include the reconstruction of improvements in the area. interchanges at SH 183, SH 114, Loop 12 The Irving Interchange project will and Spur 482. Loop 12 will be completely construct the ultimate phase of the reconstructed and widened from six to interchanges at SH 183, Loop 12, SH 114, eight lanes for a length of 1.2 miles that and Spur 482. begins on the south end of Union Bower  Road to the north of Texas Plaza Drive. The PROJECT DETAILS project will also include the widening of CSJ’s: 0581-02-124, 0094-03-060 SH 114 from Loop 12 to SH 183 and Spur Voters passed a $563 bond Loop million 12: Texas Plaza Dr. to Union Bower 482 with direct connectors. Spur 482 will Rd. (1.2that mi.) include package to fund projects  be reconstructed from west of Century

SH 114: Loop 12 to SH 183 (1 mi.) street improvements, updates to aging Center Boulevard to the interchange and infrastructure, parks new Center Blvd. to Spur 482: Wand of Century will tie into SH 183 with direct connectors. land for public issafety The overall length of the project aboutfacilities. SH183 (1 mi.)

2 IRVING 02 BOND 1

SH 183: E of Carl Rd. to Grauwyler Rd. (1.8 mi.)

9.6 miles including bridges and direct connectors.

INTERCHANGE CONNECTOR PROJECT

Project Cost: $301 million Phase Department 1 of the Irving Interchange was Texas of Transportation’s $301 million Construction Begin: Late 2020 completed in 2013 which reconstructed Irving Interchange project began in late 2020 and is the interchanges at SH 114 and Loop 12.

Est. Construction Completion: mid-2023

anticipated for completion in mid-2023.

PROJECT STATUS Project is at ~42% completion, ~31% elapsed time.

New on-ramp on northbound Loop 12 frontage road just north of Union Bower has been completed and opened for traffic.

T he Irving Convention at Las Colinas 11 retaining walls haveCenter been completed welcomes A-Kon, an SH annual along Loop 12, 183, SHfour-day 114 and convention Spur3-5, 482. 2022. North America’s longest held June Roadway work such as asphalt concrete running convention primarily focused on anime. pavement and subgrade preparation T he Professional Triathletes Organization (PTO) continue along Loop 12, SH 183 and is bringing the 2022 PTO U.S. Open to Irving SH 114.

Sept. 17-18, 2022.

Several substructures for bridges over Loop 12, SH 183 and Spur 482 including direct connectors are currently under construction.

Drainage culverts and pipes along SH 114 and Spur 482 are under construction.

City of Irving utility work 99% is completed.

32 BRIDGES will be constructed including:

MATERIALS THAT WILL BE USED:

10 DIRECT CONNECTORS between Loop 12, SH 183, SH 114 and Spur 482.

1.2 MILLION SQUARE FEET of reinforced concrete slab

HERITAGE 170,000 LINEAR FEETPARK of concrete bridge beams.

Celebrated grand opening of Heritage Park in (That equals 32.2the MILES) December 2021 with Holidays at Heritage.

22 OVERPASS BRIDGES along Loop 12, SH 183, SH 114 and Spur 482.

concrete will be used, which is about 4.5 TIMES as big as the area of an American football field:

90,000 TONS of hot mix asphalt

4.6 MILES of roadway and 4.8 MILES of bridge will be built as part of this project.* = 4.6 MILES

41 retaining walls will be constructed

= 4.8 MILES 1 mile 183

114

12

12

700+ drilled shafts foundations

482 35E

183

IRVING

183

*Map shown for purposes of scale.

SOURCE: Texas Department of Transportation.

2.8 MILLION POUNDS of steel plate beams

DALLAS

500+ columns will be built as part of this project

5

TxDOT graphic by DEAN HOLLINGSWORTH/Information Specialist 122

261,000 SQ FT of

200,000 CUBIC YARDS of concrete

FY 2020-21 Net Position

$1,084,788,736 Over time, increases or decreases in the city’s net position may be an indication of whether the financial situation of the city is improving or deteriorating.

The City of Irving’s overall net position

increased 8% or $78 Million

from the prior fiscal year. The three components of net position are:

NET INVESTMENT IN CAPITAL ASSETS

The most significant portion of net position ($940.4 Million) is invested in capital assets. Irving uses these capital assets to provide a variety of public goods and services to its residents. For that reason, these assets are not available for future spending. Irving’s investment in capital assets is reported net of related debt.

(Changes in Net Position)

Irving’s fiscal year (FY) runs Oct. 1 to Sept. 30. The city’s statement of activities for fiscal years ending Sept. 30, 20192021 are shown in the chart below.

ACTIVITIES/CHANGES IN NET POSITION (in Thousands) Revenues Less: Expenses Increase (Decrease) in Net Position Net Position, Beginning of Year Net Position, End of Year

2021 $496,730 $418,767 $77,963 $1,006,826

2020 2019 $465,446 $482,086 $427,556 $490,862 $37,890

($8,776)

$968,936 $977,712

$1,084,789 $1,006,826 $968,936

As of Sept. 30, 2021,

THE FUND BALANCE OF THE GENERAL FUND WAS

Capital Assets

$101.7 Million

GENERAL FUND BALANCE

RESTRICTED NET POSITION

($79.7 Million)

7%

General Fund balance represents city reserves and amounts nonspendable, committed assigned or unassigned for special purposes. These are shown below for the fiscal years ending Sept. 30, 2019-2021 in the chart below:

Restricted

(in Thousands) Nonspendable Committed Assigned Unassigned

UNRESTRICTED NET POSITION

The remaining portion of net position ($64.7 Million) is unrestricted, representing resources that are available for services.

STATEMENT OF ACTIVITIES

87%

This portion of net position

is restricted, representing funds that are limited to construction activities, payment of debt or specific programs by law.

Financial Highlights

6%

Unrestricted

2021 $20 $100 $72 $101,506 $101,698

2020 $10 $100 $71 $83,065 $83,246

2019 $182 $3,224* $3,756* $71,942 $79,104

* In FY20 the city created the Economic Developement Incentive Fund where substantially all of these balances are now reported.

Aaa/AAA Municipal Bond Rating 6

FROM MOODY’S AND S&P GLOBAL

Financial Highlights RESERVE REQUIREMENTS

City Reserves

The city has a Minimum Fund Balance Policy to target a minimum General Fund balance for operations that is 30% of annual revenues. This financial policy ensures an adequate fund balance in operating funds to maintain liquidity, as well as provide the city with capital in the event of unexpected financial impacts, such as economic downturns and natural disasters. As of Sept. 30, 2021, the city has a general fund reserve rate of 40.3%.

40%

The City’s Debt Service Reserve Balance was $16.5 Million PROPERTY TAX

The largest share of property tax collected goes to one of three Independent School Districts (ISD) serving Irving residents: Irving ISD, Carrollton-Farmers Branch ISD or Coppell ISD. Other taxing authorities include the city, Dallas County, School Equalizations, Parkland Hospital and the Dallas County Community College.

FY21 Total Property Tax Bill Breakdown Based on Average Single-Family Taxable* Home Value of $209,809 with a 20% Homestead Exemption

53%

School Districts in Irving Average

Dallas County Entities

25%

22%

Tax Rate $1.2799

Tax Rate $0.6398

Tax Rate $0.5941

Annual Total $2,365.43

Annual Total $1,073.95

Annual Total $997.18

City of Irving

PROPERTY TAX RATE DISTRIBUTION City Property Tax Rate Remains Constant for the

Seventh Consecutive Year at $0.5941/$100 Valuation Maintenance and Operation Debt Service

2021

2020

2019

0.4741

0.4741

0.4741

0.1200 0.5941

0.1200 0.5941

0.1200 0.5941

The Average Taxable Value for an Irving Home is $220,694 with an Average Market Value of $281,434

* The average Irving homeowner will pay $997.18 per year, or $2.73 per day in city property taxes

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Financial Highlights SALES TAX REVENUES Sales tax revenues are the second largest source of funding for governmental fund revenues. For the prior three years the city collected: (in Thousands) 2021 $82,068

2020 $76,774

2019 $76,735

FY21 SALES TAX ALLOCATION

$677.1 Million in Sales Tax Revenues were Collected in Irving for FY21, 76% of which goes to the State of Texas

TOP 10 SALES TAX CATEGORIES Retail Trade $22,566,039 Wholesale Trade $10,593,730 Information $8,837,073 Manufacturing $6,310,020

State of Texas

DART

Irving

$512.9 M

$82.1 M

$82.1 M

6.25%

1%

Total Sales Tax Rate

1%

8.25%

Utilities $6,273,518 Accommodation and Food Services $5,826,499 Professional, Scientific and Technical Services $5,558,468 Other Foundation, Structure and Building Exterior Contractors $4,533,457 Administrative/Support, Waste Management and Remediation Services $3,398,628 Real Estate and Rental and Leasing $2,554,412

TAXABLE VALUES According to the Dallas Central Appraisal District (DCAD), the Total Estimated Taxable Value of all Property in Irving for the

$31,371,495,332, an Increase of $2,988,021,755 2021 Tax Year is

New Commercial and Residential Construction added

$544.6 Million in Taxable Value New Commercial Construction Increased by 47 Properties with an Average Value of

$7.3 Million

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Financial Highlights Irving City Council Adopted a Balanced $687.9 Million Operating Budget, which Includes the General Fund and Several Dedicated Funds

The General Fund is the city’s main operating fund used to account for day-to-day operations except those required to be reported in other funds. The majority of city departments and personnel are budgeted in this fund. References herein to General Fund budget excludes funds aggregated with the General Fund as reported in the Annual Comprehensive Financial Report.

FY21 GENERAL FUND GENERAL FUND FINANCIAL TREND SUMMARY (in Thousands) REVENUES

Taxes Fees, License, Permits and Inspections Fines, Forfeitures and Penalties Charges for Services Intergovernmental Investment Income Miscellaneous

(in Thousands) EXPENDITURES

2021

2020

2019

$214,366

$200,519

$207,116

$15,269 $2,804

$11,440 $4,000

$10,688 $5,165

$3,604 $2,969 $512 $14,147 $7,672 $6,857 $163 $1,473 $2,183 $1,727 $2,293 $8,103 $252,080 $230,366 $240,624

2021

2020

2019

General Government $48,940 $46,543 $46,131 Police $71,897 $69,434 $66,291 Fire $52,878 $49,889 $48,524 Public Safety Wellness Unit $4* Parks and Recreation $15,991 $15,622 $17,778 Municipal Court $2,931 $2,907 $3,002 Library $6,874 $7,095 $6,971 Community Development $6,645** $6,138** $17,888 Public Works $23,187 $20,685 $19,990 $229,347 $218,313 $226,575

*Department created during FY21 ** Approximately $11.5 million related to one-time incentive payments in FY19 to Toyota Music Factory located businesses that were nonrecurring in future years.

$233 Million Budget $258 Million Actual

The majority of General Fund revenues are generated from tax revenues. These primarily comprise of property taxes and sales taxes at city rates of $0.5941 per $100 valuation and 1% of taxable sales, respectively.

The increase in tax revenue from FY20 to FY21 resulted primarily from an increase of $9.8 million in property tax and $4.1 million in sales tax.

Expenditures increased from $218.3 million in FY20 to $229.3 million in FY21 resulting from reopening of city facilities and filling vacant positions that were previously closed or left vacant during FY20 due to the economic and health-related impacts caused by COVID-19.

The General Fund accounts for 34% of all funds combined

34%

66% Dedicated Funds  17%

Water and Sewer System Funds

 14%

Capital Improvement Funds

 12%

Debt Service Funds

 11%

Special Revenue Funds

 12%

Other Funds Include Internal Services, Grants, Solid Waste Services, Hotel/Motel Tax and Municipal Drainage Utility

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Financial Highlights HOW IS THE CITY’S GENERAL FUND ALLOCATED?

The city’s total budget for FY21 was $687.9 Million. The General Fund is approximately $237.1 Million or approximately 34% of the total budget. Property tax and sales tax collections represent the largest sources of revenue for the General Fund. When combined with Franchise Fee revenue, tax collections comprise 85% of total General Fund revenues.

2.9%

0.7%

0.1%

Public Works

Community Development

Miscellaneous

3.0%

Investment Income

10.1%

21.3%

General Government

Library

5.6%

Intergovernmental

1.4%

Charges for Services

1.1%

1.3%

FY21

Municipal Court

Revenues

Parks & Recreation

Fines, Forfeitures and Penalties

6.1%

85.0%

FY21

Expenditures 31.3%

23.1%

Taxes

Fees, License, Permits and Inspections

7.0%

Police

Fire

49%

of Total General Fund Revenue Goes Toward Funding

Police, Fire and Emergency Medical Services

FY21 GENERAL FUND EXPENDITURES Budget vs. Actuals

Public Works Community Development Library Municipal Court Parks and Recreation Public Safety Wellness Unit* Fire Police General Government (in Thousands) $-

$20,000

*Department created during FY21

10

$40,000

$60,000 Budget

$80,000 Actuals

Financial Highlights CAPITAL ASSETS Capital assets represent a significant portion of the city’s financial position and represent a long-term asset used in delivering services and providing for resident needs.

Financial

GLOSSARY OF TERMS Assigned funds: Amounts set-aside by the city for specific purposes that are not restricted or committed.

Committed fund balance: Amounts that can only be used for a specific purpose by formal action from City Council.

Dedicated funds: Amounts set-aside for a specific purpose.

Deferred outflows of resources: Amounts pending recognition as expenses in future periods.

Deferred inflows of resources: Amounts pending recognition as revenues in future periods.

Franchise fees: Charges to utility companies for the use of public rights-of-way.

General fund: The main operating fund for the city.

Major Capital Asset Additions During FY21 Include (in Millions) Southwest Interceptors

$8.6 M

Fire Station No. 4

$4.4 M

Rock Island Road Bike and Pedestrian Facility

$3.7 M

Georgia Farrow Renovations

$3.2 M

Levy Event Plaza

$3.2 M

DEBT Long-term debt represents borrowings used to finance the construction and purchase of capital assets used by the city.

These comprise items for governmental and business-type activities.

$71.2 Million in new debt

In FY21, the city issued to fund a variety of planned capital projects ranging from building and park facility improvements and renovations to water main replacements and drainage improvements.

Intergovernmental: Revenue recognized from grant awards and reimbursement of operating costs by other funds.

Net investment in capital assets: Capital assets, net of accumulated depreciation, reduced by outstanding capital related debt.

Net position: The net position of the city is equal to city assets and deferred outflows reduced by liabilities and deferred inflows.

Nonspendable funds: Fund balance representing assets not in a spendable form (i.e., inventory).

Reserves: Amounts of fund balance that are not available for appropriation or are set-aside for a specific future use.

Restricted fund balance: Amounts that can only be used for a specific purpose set by external entities.

Restricted net position: Restricted assets reduced by liabilities and deferred inflows of resources related to those assets.

Unassigned fund balance: Remaining amount that has not been assigned to other funds or been restricted, committed or assigned to specific purposes.

Unrestricted net position: Remaining net position not included in net investment in capital assets or restricted net position.

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Accomplishments The City of Irving achieved What Works Cities Certification at the Silver level in 2021. What Works Cities Certification, the national standard of excellence in data-driven city governance, evaluates how well cities are managed by measuring the extent to which city leaders incorporate data and evidence in their decision-making, such as resource allocation, program effectiveness and achieving desired outcomes.

Coordinated with the City of Grand Prairie and Dallas County to administer 22,000 COVID-19 vaccinations to Dallas County residents.

AWARDS Scenic City Certification Scenic Texas Capital Improvement Program Code Enforcement Association of Texas Community Service Award Code Enforcement Department Excellence in Code Enforcement Award Building Officials Association of Texas Code Enforcement Department Government Finance Officers Association Triple Crown Winner Certificate of Achievement for Excellence in Financial Reporting, Popular Annual Financial Award, Distinguished Budget Presentation Award Financial Services 2021 Adrian Awards Visit Irving Safely Campaign (Gold) Irving Convention and Visitors Bureau Texas Best Practices Recognition Texas Fire Chiefs Association Irving Fire Department

Texas Best Practices Recognition Texas Police Chiefs Association Irving Police Department

Accreditation with the Texas State Library and Archives Commission Irving Library Services 2021 Municipal Traffic Safety Initiative Award for High-Volume Courts Municipal Courts Education Center Irving Municipal Court 2021 Texas Employer Traffic Safety Award National Safety Council Irving Municipal Court Certificate of Planning Excellence Texas Chapter of the American Planning Association Planning and Community Development

Launched IrvingArchivesandMuseum.com,

a new website providing a central information source for residents and visitors to learn how to visit the museum, explore Irving’s history, expand content from the temporary exhibitions program and provide educational resources.

2021 Leading Fleet Award Government Fleet Magazine and the American Public Works Association Fleet Operations Arbor Day Foundation Tree City USA – 13th Consecutive Year Parks and Recreation Department

Launched public-facing dashboards for both

State Maintenance Achievement Award Texas Recreation and Park Society Parks and Recreation Department

CityofIrving.org/3357/Open-Government

2021 TATOA Government Programming – 11 Awards Texas Association of Telecommunications Officers and Advisors (TATOA) Irving Community Television Network (ICTN)

the city’s strategic plan and Irving Connects, the city’s smart city initiative, in order to demonstrate achievement of goals associated with each. Visit to view.

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Keep America Beautiful President’s Circle Award Keep Irving Beautiful

Stay Informed

The City of Irving aims to keep residents and visitors informed of the latest news, events, programs and public meetings. The city offers numerous outlets for community engagement, including “Irving City Spectrum,” Irving’s monthly resident newspaper, and Irving Community Television Network (ICTN), as well as several social media channels.

IRVING CITY SPECTRUM

Award-Winning Monthly Newspaper Delivered to Approximately

CityofIrving.org

IRVING CITY SPECTRUM BRIEFS One-page Insert Delivered to Residents in Monthly Utility Bills.

CityofIrving.org/Publications

ANNUAL VISITS 2.4 MILLION PAGE VIEWS 5 MILLION

Watch shows and live coverage provided by the award-winning ICTN. Watch via cable providers on the following channels.

2020 Resident Survey Ranked City Website TOP COMMUNICATION TOOL

DIGITAL NEWSLETTERS City information is distributed weekly through email newsletters. Sign up at

CityofIrving.org/Newsletters

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On the Cover The mural located in the Irving Arts Center sculpture garden was created by artist Francisco Mendoza with the help of 40 Irving students. The mural was dedicated in 2004 as part of the Centennial Celebration and portrays moments in Irving’s history.

City of Irving  825 W. Irving Blvd., Irving, TX 75060  (972) 721-2600  CityofIrving.org