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Council reviews proposed FY27 budget and sets tax-rate timeline; staff recommends $0.295 baseline
Summary
Staff presented the town's proposed FY 2026–27 budget, showing operating revenues of $63.6M and expenditures of $64.2M and proposing a $0.295 per $100 tax-rate baseline. Council scheduled public hearings in August and directed staff to complete final calculations by early August.
Staff briefed the council on the draft FY 2026–27 budget and a timeline for tax-rate notices and hearings. The presentation showed operating revenues of about $63.6 million and operating expenditures of about $64.2 million (excluding capital funds), driven in part by planned equipment replacements and capital projects.
The staff presenter said the general fund projects roughly $15.2 million in revenues and $15.27 million in expenditures with a projected ending fund balance of about $5.7 million (roughly 38% of operating costs). He proposed using up to $1.5 million of fund balance for a one-time payment to the Texas Municipal Retirement System to reduce the town’s unfunded liability.
On the tax-rate timeline, staff proposed a de minimis baseline rate of $0.295 per $100 valuation and scheduled public hearings and a record vote for Aug. 20. The council made no final tax-rate adoption tonight; the motion to publish the proposed rate and set the hearing passed unanimously.
The budget presentation included capital-program highlights (roads, water projects, a public-works building) and noted proposed equipment purchases including a sewer-vac truck estimated at $710,000. Staff said certified tax rolls arrived that morning and they would update calculations and return with the final numbers prior to the public hearing.
