Council Discusses FY 09/10 Budget

At the July 14 meeting, Council discussed the FY 09-10 General Fund budget with staff. The largest single revenue source in the proposed budget is the ad valorem (property) tax. Though we have not yet received the final tax role, our current projections for assessed valuation will, maintaining the existing tax rate of .56963 per $100 valuation, provide $7,690,855 for General Fund operations, a 3.3% increase over last year’s adopted budget. This increase in ad valorem tax revenue is lower than the city anticipated. That, along with a decline in expected sales tax revenues, has prompted Council and staff to make some challenging choices. No personnel cost increase in the way of CPI or merit for this budget is proposed. This will allow the City to address funding needs identified by staff and approved by Council for technology and infrastructure enhancements. Despite the challenging times, the FY 09/10 budget still provides for a proposed fund balance of approximately 24%. As previously shown in our five-year outlook, it is staff's recommendation, with Council’s support as a key policy decision, to maintain a higher Fund Balance for the current budget and next two or three years, as the city ascertains the full impact of commercial development – coupled with substantial residential build-out and resulting revenue decline associated with the loss of the new growth component in our market values. The proposed budget continues the focus on public safety and the delivery of core services to our residents.

Also at this meeting Council received a presentation by Mesa Design Group for Doubletree Ranch Phase 1, the area designated as a conservation zone, for the purpose of applying for a grant through the Texas Parks and Wildlife Department. The City is applying for a $500,000 grant, the maximum allowed per application, for the development and construction of land in the southern portion of Doubletree Ranch. The application process requires the submittal of a concept site master plan, a public hearing and a Resolution of the City Council. The presentation by Mesa Design group marks the beginning of the conceptual design phase for the development of Doubetree Ranch, with many more public meetings soliciting input and presentations to follow. After receiving the presentation by Mesa Design Group, Council held the public hearing and approved the resolution.

 

 

During Mayor and Council presentation, Mayor Dianne Costa informed residents the City is accepting applications for Board and Commission appointments. The City Council will appoint members to the various Boards and Commissions in September. Detailed information about the individual Boards and Commissions along with the volunteer application is available on the city website under “Volunteer Opportunities.”