City Council Combined AGENDA


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  31.       
Meeting Date: 08/15/2019  
Prepared By: Robert Powers, Finance Director

AGENDA SUBJECT:
Receive presentation and consider action on the Interim City Manager's proposed annual budget for fiscal year 2020.
BACKGROUND:
The proposed budget is based upon a tax rate reduction of one cent from the current 55.1867 cents per $100 to 54.1867 cents.  The budget includes twenty-four (24) new positions - twenty (20) in the General Fund and four (4) in the Utility Fund.  We anticipate ending the current fiscal year 2019, with a surplus above our Charter-required minimum by One Million Five Hundred Thousand ($1,500,000) Dollars.  This surplus is recommended, similar to previous budgets, to be used for funding capital improvement projects.  In the Utility Fund, we are proposing the second year of a One ($1) Dollar decrease in the water reserve charge from Four ($4) Dollars per living unit equivalent (L.U.E.) to Three ($3) Dollars.  The tentative date for the public hearing on the budget and adoption is Thursday, September 19.

At this time, we do not have certified tax roll values from Travis Central Appraisal District.  Consequently, we cannot calculate the state required Effective and Rollback Tax Rates.  We anticipate receiving the Travis roll on Tuesday, August 20.  Preliminary estimates are that the proposed tax rate of 54.1867 cents will be over the effective tax rate which will require public notice and two (2) public hearings before any vote on the tax rate.  Our estimate of the effective tax rate is 54.7083 cents.
RECOMMENDATION:
No formal action is required at this meeting.
PRESENTER:
Gordon Pierce, Interim City Manager
Attachments
1. Manager's Budget Message


    

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