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Henderson presents FY25 budget options; City Manager to recommend $0.55 tax rate
Summary
City Manager Edward Blackmon and Finance Director Joey Fuqua presented the proposed FY25 budget highlighting inflation and limited tax-base growth, proposed General Fund of $25,045,795, use of $4 million in fund balance to balance the budget, and a recommended tax rate of $0.55 to provide relief while maintaining revenue.
City Manager Edward T. Blackmon and Finance Director Joey Fuqua presented Henderson’s proposed FY25 budget on May 13, outlining fiscal pressures, staffing considerations and redevelopment financing options.
Fuqua said inflation and minimal tax-base growth have constrained revenue, and presented a recommended General Fund of $25,045,795 and a total budget of $44,533,562. He said the recommended budget uses $4 million of fund balance to balance FY25. "If the tax rate was decreased to $.55, the revenue generated would be…
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