The Eagle Pass City Council will be holding a special meeting on Tuesday September 19,2017 in which they’re expected to approve their final budget for the 2017/2018 Fiscal Year set at set at $24,247,302.
The City Council and administration have been working on the budget for the past month in order to have it ready to be adopted before the October 1st deadline.
This year’s balanced budget is set at $24,247,302. an increase of $1,875,927 in revenues to be collected, or 8.4%, compared to the previous years budget. This increase is mainly attributed to an increase in the transfer from the City’s International Bridge System Fund, in addition to relatively smaller changes in the City’s other main revenue sources. The City is estimating that they will transfer $11,119,007. To the general fund representing an increase of $1,926,655 or 20.9% from the previous year.
Property values in the City increased by $33,926,112 or 2.4% compared to the previous year. Property tax revenue is anticipated to increase by $167,279 to $4,872,360 primarily due to new property added to the tax roll. In total, property taxes account for 20.1% of General Fund revenue.
The sales tax rate for taxable sales within city limits is 8.25%. Of this amount 6.25% is allocated to the State of Texas, 1.0% to Maverick County, and 1.0% to the City. For fiscal year 2017-2018, sales tax revenue is estimated to be $4,704,860 or a 1.67% decrease from the previous year.
Franchise fee revenue is estimated to remain at $981,885. In total, franchise fees account for 4.1% of General Fund revenue.
The City’s budget is set to increase by 8.39% going from $22,371, 375 last year to $24,247,302 million dollars for this coming fiscal year, a difference of $1,875,927.
In expenditures Public Service including the Police and Fire Department remain to be the most costly with $9,687,942 spent or 39.9% of the entire budget. Another highlight in the proposed budget is the amount of funds allocated to the city’s information technology department which will grow by 156.79% going from $313,096 to $804,000.
The City is expected to collect more revenues this years than in the previous year from an adjustment in the property appraisal rolls and values by the Maverick County Appraisal Board which is expected to increase the values and new property values by up to $150,000,000