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Wichita Falls CFO lays out FY25 budget choices, tax‑rate tradeoffs and reserve posture
Summary
At a pre‑budget workshop, City CFO Steven outlined FY25 budget landmarks: a roughly $100M general fund, a projected $38M year‑end balance, tax‑rate reference points (current 0.68, no‑new‑revenue ~0.6563), and options that would raise or lower revenue by hundreds of thousands to millions of dollars.
At a pre‑budget workshop, City Chief Financial Officer Steven presented the city’s financial picture ahead of the FY25 proposed budget and walked council through tax‑rate choices, fund‑balance targets and next steps in the calendar.
Steven said the general fund is approximately $100,000,000 and staff project an end‑of‑year fund balance near $38,000,000, while reminding the council that portions of that sum are nonspendable or designated for liabilities and capital. He described a $10,000,000 capital set‑aside established in the prior budget cycle and emphasized the city’s move from borrowing toward saving.
Why it matters: tax‑rate…
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