PPT Item # 5 - FY2025 Budget and 2024 Ad Valorem Tax Rate

Powerpoint FY2025 Budget and 2024 Property Tax Ad Valorem Rate

1. ADMINISTRATION AND
FINANCE
Presented by:
Robert Galindo
Finance Director
FY 2024-25 OPERATING BUDGET
AND 2024 PROPERTY TAX RATE
ITEM # 5
AUGUST 26, 2024

2. PROPOSED 2024 AD VALOREM TAX RATE
(PER $100 VALUE)
2
PROPOSED TAX RATE $0.370147
NO NEW REVENUE TAX RATE $0.370159
VOTER APPROVAL RATE $0.399417
2024 Proposed Tax Rate Per $100 Value
M&O (Operations) Rate $ 0.311327
I&S (Debt Service) Rate
$ 0.058820
Tax Rate
$ 0.370147

3. PROPOSED 2024 AD VALOREM TAX RATE
(PER $100 IN VALUE)
3
Year
No New
Revenue Rate
Proposed
RateChange
Percent
Change
2024$0.370159$0.370147-$0.000012-0.003%

4. SUMMARY OF PROPOSED GENERAL FUND
BUDGET FY 2024-2025
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Beginning Fund Balance estimated 10-01-24$ 6,387,878
Operating Revenues $13,542,140
Departmental Allocations -13,226,866
Remaining Funds Available $ 315,274
Projected Ending Fund Balance 09-30-25 $6,703,152

5. PROPOSED UTILITY FUND BUDGET FY2024-25
5
Projected Beginning Fund Balance 10-01-24$2,480,740
Revenues $5,507,576
Operating Expenses -5,487,739
Working Capital $19,837
Projected Fund Balance 09-30-25 $2,500,577

6. Funding Summary
Comprehensive
Plan
Street
Maintenance
Capital Projects Capital
Replacement
ProjectedFund Balance
10/1/24
$ 1,579,175 $ 685,416(3) $15,225,268$ 911,390
Transfer in/Revenue $ 50,000(2) $ 868,811 $ 405,632 $ 215,607
Expenditures (1)- $ 1,450,000 -$1,000,000(4) -$ 25,000 (5) -$498,608
Projected Ending Balance
9/30/25
$ 179,175$ 554,227$15,605,900$ 628,389
OTHER GOVERNMENTAL FUNDS PROPOSED FY 2024-25
1)Beautification $1.4 million, Community grant program $50,000 fund must be used by 09-30-25
2)Street Maintenance estimated dedicated ½ cent sales tax revenue
3)2021 Taxable bond proceeds of $13,250,000 are included in Capital Projects Fund balance
4)Olmos Basin Cleanup $25,000
5)Capital Replacement –IT $28,000, Ambulance $204,700, Stretcher $43,000, Police Body Worn Cameras Lease
$25,816, Police Mobile Cameras $32,092, EMS $75,000 future ambulance, Half Cost for Dump Truck $90,000
split with Utility Fund
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7. POLICY ANALYSIS
The City Charter requires the City Manager to prepare a
budget to cover all proposed expenditures of the City for the
succeeding year. The budget must be prepared in conformity
with state law and a vote to approve is required.
A record vote to set the tax rate is required by Chapter 26
of the Tax Code.
Local Government Code 102.007 requires a separate vote
be made to ratify the property tax revenue increase in the
budget.
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8. ACTION REQUIRED
Approve Ordinances in the following order with record vote:
1. Proposed FY 2024-2025 Budget
2. Proposed 2024 Ad Valorem Tax Rate –Motion must be made in the
following form:
“I move the property tax rate be decreased by the adoption of a tax
rate of $0.370147 per $100 valuation with the
M&O Rate being $0.311327 and the I&S Rate being $0.058820.”
3. Ratifying the increase in Property Tax Revenue reflected in the FY 2024-
2025 Budget
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