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FISCAL YEAR 2013-2014
PROPOSED BUDGET $31.7 MILLION
The FY 13-14 budgeted expenditures amount
•totals $31,762,960 for all funds
Fund Balance shows a reduction of $10.4M due
primarily to
•Capital Projects fund $8.9M
•Enterprise Fund Projects $1.2M
This represents a 41% fund balance decrease
•Spending a portion of $9.5M bond money
received in FY 12/13
Town Council Budget Presentation – 09/16/13
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AD VALOREM TAX RATE
Town Council Budget Presentation - 09/16/13
FY 10/11
Actual
FY 11/12
Actual
FY 12/13
Estimated
FY 13/14
Proposed
Total Appraised Value $1,025,535,296 $1,090,892,532 $1,213,602,021 $1,233,405,814
Net Taxable Value $880,169,946 $913,119,313 $864,452,946 $856,728,618
Property Tax Revenue $1,257,246 $1,442,069 $1,355,808 $1,343,693
Estimated Appraised Value to increase 1.63%
Residential/commercial growth offset by homestead exemptions and abatement
Tax Rate Remains the same (.15684) as FY 12/13 rate.
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PROJECT AMOUNT PROJECT DESCRIPTION
$15,000 Trail Connection at Hwy 114/Solana
$200,000 WA West Parking Improvements
$99,000 Outdoor Warning System
$7,795,950 Westlake Academy Expansion
$1,133,544 FM1938 Streetscaping
$390,940 SH114/Hwy170 Enhancements
$9,634,434 TOTAL CAPITAL PROJECT FUNDS
$82,967 TRA Assumption of N1 Sewer Line
$1,438,913 Ground Storage Tank Project
$1,532,079 TOTAL UTILITY FUND PROJECTS
$11,156,314 TOTAL FUNDED PROJECTS
Town Council Budget Presentation - 09/16/13
Fiscal Year 2013/2014
FUNDED CIP S UMMARY
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QUESTIONS
Town Council Budget Presentation - 09/16/13