Weatherford
Weatherford City Council (Work Session), Sept. 26, 2017: 1 item; Discussion regarding FY18 budget
0 consent items, 1 regular item. Written from the minutes.
Discussion regarding FY18 budget. Kyle Lester, Assistant Director of Finance, presented this item. Mr. Lester provided the following General Fund overview and fund balance summary graphs: Mr. Lester spoke about tax rates in other cities and noted that the City of Weatherford has a very competitive tax rate among 118 north Texas cities that he surveyed recently. Mr. Lester provided the following chart regarding proposed tax rates and average tax bills: CCWS09262017 Page 1 of 2 He stated that $0.4992 is still staff’s recommendation for the tax rate; however, staff has cut $200k from the proposed budget with $100k from capital and $100k from operations, as requested by Council during the last work session. Mr. Lester stated that he has prepared the ordinances for tonight’s regular session based upon a tax rate of $0.4899. Council consensus was to proceed with the tax rate of $0.4899 for FY18. It was noted that the city may receive sales tax dollars over what was estimated. Staff will discuss this with the Council before anything is done with additional dollars. Council may wish to review the priorities list from May, retiree liability, or other items. Staff will bring this back to the City Council at the last meeting in October. Other discussion included General Fund and Hotel Occupancy Tax (HOT) Fund requests, and Chandor Gardens.
Compiled from the city secretary's minutes by the Ledger's extractor, in the minutes' own wording, item by item; the Ledger adds no characterization. Read the minutes for the full record.
Sources: City of Weatherford: council minutes, Sept. 26, 2017 (Granicus); Agenda for this meeting (Granicus); Meeting video (Granicus)