Title
Consider adopting Ordinance No. 3698 approving and adopting the City’s Fiscal Year 2021-22 Operating and Capital Improvement Program Budget and Strategic Plan and amending the City’s Fiscal Year 2020-21 Operating and Capital Improvement Budget; and take appropriate action.
Body
BACKGROUND:
On July 30, 2021, the Proposed Fiscal Year 2021-22 Operating and Capital Improvement Program Budget was delivered to the City Council and the budget was placed on the City’s website for public review.
The proposed budget was discussed with City Council during a budget retreat held August 10-12, 2021 and during work sessions held August 17th and September 7th, as well as earlier this evening. Citizen comments were also requested at public hearings held on September 7th and earlier this evening.
The attached information memorandum identifies staff changes and City Council recommendations that have been incorporated into the proposed budget since it was submitted on July 30, 2021 and outlines proposed changes to the Fiscal Year 2020-21 Budget.
DISCUSSION:
Ordinance 3698 establishes the Fiscal Year 2021-22 Operating and Capital Improvement Program Budget and Strategic Plan and amends the Fiscal Year 2020-21 Budget to a level that is consistent with the City’s most current estimate of revenues and expenditures.
Property Tax Code Section 26 and Texas Local Government Code Chapters 102 and 111 have requirements, notices, and/or motions that must be followed related to the budget and tax rate adoption process. All applicable laws and City Charter provisions necessary for adoption of the budget have been followed.
Truth-in-Taxation documents were prepared with a tax rate of $0.589, representing no change in the current tax rate. However, if this rate were adopted, it would raise more total property taxes than last year’s budget by $3,696,537 or 10.17%, and of that amount, $2,062,162 is tax revenue to be raised from new property added to the tax roll this year. The proposed budget meets all financial objectives and fund balance targets of the City on a most-realistic budget basis.
This Ordinance supports the City’s guiding principle of Financial Stewardship.
FISCAL IMPACT:
1. Financial Impact - Total Operating & Capital Expenditure Budget of $146,031,363.
DISTRICT:
All districts.
RECOMMENDATION:
City Administration recommends the adoption of Ordinance No. 3698 approving and adopting the City’s Fiscal Year 2021-22 Operating and Capital Improvement Program Budget and Strategic Plan and amending the City’s Fiscal Year 2020-21 Operating and Capital Improvement Program Budget.
POSSIBLE COUNCIL ACTION:
1. I move to approve Ordinance 3698 approving and adopting the City’s Fiscal Year 2021-22 Operating and Capital Improvement Program Budget and Strategic Plan and amending the City’s Fiscal Year 2020-21 Operating and Capital Improvement Program Budget. (Take record vote.)
2. I move to approve Ordinance 3698, with modifications.
ATTACHMENT(S):
1. Information Memorandum
2. Ordinance 3698
3. Fiscal Year 2021-22 Operating and Capital Budget
4. Fiscal Year 2021-22 Strategic Plan