• The City of Bedford, Texas Home Rule Charter was adopted September 24, 1966. The city operates under a
Council-Manager form of government and provides the following services by its charter: public safety, public works, health, culture, recreation, community development, water and sewer utilities. • According to the city's 2013–2014 Comprehensive Annual Financial Report, the city's various funds had $62.5 million in revenues, $56.9 million in expenditures, $127.4 million in total assets, $67.2 million in total liabilities, and $22.4 million in cash and investments.
Tax rollback of 2005 • In 2004, the Bedford city council determined that after years of cost-cutting, a property tax increase would be necessary. The council adopted a higher tax rate, but it triggered a tax rollback election in March 2005. The rollback provision passed and the city council revised the budget immediately due to the lack of funds, cutting city services including swimming pools, recreational centers, and the city library. However, an anonymous donation of $300,000 allowed the reopening of the library, one pool, the recreational center, and senior center. Another $20,000 was raised through a resident fundraising drive to help reopen the library. City records show they had budget surpluses in the following years. ==Economy==