Putting pencil to paper

by | Jul 15, 2015 | Latest

By Joe Reavis

Staff Writer

[email protected]

Wylie City Council begins budget work in earnest Thursday when they start meeting with department heads to review expense requests.

The budget work session is set for 6 p.m. at Wylie Municipal Complex, 300 Country Club Road.

Presentations will be made for the planning/building, engineering, Wylie Economic Development Corporation, public services and police/animal control departments.

A second round of department budget presentations is scheduled for Tuesday, July 21, and a final budget work session will be held Tuesday, July 28, as part of a regular council session.

City Manager Mindy Manson reports that budget estimates show city general fund revenue in fiscal year 2015-’16 of $33.3 million and expenses of $31.4 million. The revenue number is based on an assumed nine percent increase in assessed property values, five percent increase in sales tax revenues and 350 new home starts, calculated at a total increase from last year of $1.88 million.

Manson was asked by council members last month to calculate revenues based on a one cent reduction in the property tax rate, a change that provides increased revenue of $1 million this year.

Exact property tax revenue cannot be determined, however, until property values are certified by Collin Central Appraisal District later this month.

The city manager pointed out in a letter to council members that the unassigned fund balance should be equal to 25 percent of expenditures in the general fund. Current estimates put the balance at 30 percent of expenditures, or $10.1 million of which $1.77 million is the overage from the 25 percent level.

To fund expense requests, especially if the tax rate is lowered, up to $775,000 in unencumbered funds can be used from the unassigned fund balance and still retain the 25 percent of expenses mark.

The city charter requires city staff to submit a new budget by Aug. 5, unless the council agrees to an extension. The council will meet Aug. 11 to discuss the property tax rate, hold a public hearing on the tax rate on Aug. 25 and Sept. 1, if necessary, and adopt the budget and staff rate on Sept. 8.

 

0 Comments

Related News

Early voting begins Monday

Early voting begins Monday

Early voting for the Nov. 2 Wylie municipal bond and Texas Constitution election runs Oct. 18-29. Nearby early voting locations for Dallas County residents include Sachse City Hall, Rowlett City Hall and Dallas College Garland Center, formally Richland College. Collin...

read more
Three keys to victory: Wylie East vs. Tyler High

Three keys to victory: Wylie East vs. Tyler High

The Raiders have had their shares of struggles at the start of district play, coming off of a heartbreaking loss to McKinney North.  Wylie East travels to Tyler to face the Tyler High School Lions Friday, Oct. 15. Here are three keys to a Raiders victory this...

read more
Wylie loses to Naaman Forest

Wylie loses to Naaman Forest

The Pirates (2-2, 2-5) allowed 28 points in the second half, losing to Naaman Forest 42-21. Play of the Game: Jaden Flores records pick-six against the Pirates Things started strong for Wylie against Naaman Forest (3-1, 3-1). After the first half, the Pirates held...

read more
Abraham qualifies to regional cross country meet

Abraham qualifies to regional cross country meet

Anjelika Abraham qualified for the third straight season, as the Wylie East cross country season competed at the district championship at Myers Park in McKinney Tuesday, Oct. 12. The senior finished 10th overall out of 48 runners in the girls varsity 5K (19:50.60)....

read more
Fire personnel teach safety techniques

Fire personnel teach safety techniques

Wylie Fire-Rescue has a full slate of visits scheduled in October for schools, daycares and other venues to teach fire safety.  At Wylie ISD’s Cox Elementary School on Oct. 8, the program was a skit centered on two cartoonish characters and a puppet. In the skit,...

read more
Tax bills coming soon

Tax bills coming soon

 Wylie residents should watch for the arrival property tax notices in the coming weeks.  Tax statements on behalf of taxing entities throughout Collin County will be mailed this month, Tax Assessor-Collector Kenneth Maun reported. Statements usually go in...

read more
Wylie city manager resigns

Wylie city manager resigns

Wylie City Manager Chris Holsted's resignation was accepted early Wednesday morning after the Wylie City Council met in an executive session to discuss his performance and contract. The vote to accept Holsted's resignation was 6-1, with Councilmember Garrett Mize...

read more
Principal embraces role of leader of students, teachers

Principal embraces role of leader of students, teachers

Tiffany Doolan started at Wylie East High School as its principal for the 2020-21 school year, a time of turbulence for all schools because of the pandemic.  Doolan, who was the former assistant principal at East, recently talked about her job as the leader of the...

read more