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BUDGET & TAX RATE FY 2019-20 APPROVED

 

 

 

 

CITY COUNCIL APPROVES

FY 2019-20 BUDGET & TAX RATE

 

City Council approved its FY 2019-20 budget on August 26, 2019.  The budget is fiscally conservative and utilizes City resources to sustain City service levels, address long-term infrastructure needs, and maintain economic development.  This is accomplished by maintaining the same tax rate as last year.  .Budget revenues are $9,320,305 and expenses are $8,904,901.

The City switched its healthcare provider to offer better healthcare options to employees while reducing overall budget costs.  Cost for personnel services are $4.3M and include scheduled merit increases and a 1.4% Cost of Living Adjustment (COLA) for all personnel.

The budget transfers $400,000 into the Capital Fund to address recurring infrastructure needs.  A Capital Improvement Plan was included; it is a guide on how to use Capital funds for future equipment  purchases, street projects, and building renovations.  The budget also transfers $120,000 to the Streets Fund to maintain City roads. 

The City requested funds from Bexar County to help reduce the costs of the Vivian Lane street reconstruction project.  Bexar County contributed $300,000 towards the effort, reducing City costs for the reconstruction to $404,000.  Construction start is estimated in 2020 and costs are included in the approved budget.

Council also voted to maintain its current property tax rate which is $0.583/$100 of property valuation.  Although the City did not increase its property tax rate in the approved budget; however,  the Bexar County Appraisal District raised property valuations in the City by 3.2%.  This generates $54,143 of additional tax revenue for the City.

Every budget is an attempt to balance current and future needs within the framework of limited resources - Council  and staff are very much aware of this. 

City financial information is available at the City Website’s Finance page by clicking the following link:

FY 2019-20 Adopted Budget

 

Should you have any questions, please do not hesitate to contact Finance Director Floyd Messick - fmessick@bhtx.gov

 

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