At their Monday, June 19 Regular Meeting, Missouri City Council Members unanimously approved and adopted the Fiscal Year (FY) 2018 annual budget on the first and final reading. The total adopted budget for FY 2018 is $137,322,554, with a General Fund Budget of $48,157,672, or 35 percent of the total budget.
The approved budget is funded with a tax rate set at an estimated rollback rate of $0.52805 per $100 in valuation. Final assessed values will not be received until late July or early August.
The approved budget is divided amongst many funds, the largest of which includes the following:
This year’s budget, which runs from July 1, 2017, to June 30, 2018, will raise more total property taxes than last year’s budget by $1,773,544, which is a 5 percent increase. The largest source of revenue to the General Fund are property taxes 55% and sales taxes 18%.
“The Fiscal Year 2018 Budget focuses upon strategic and prioritized funding for our organizational health and essential programs and projects to meet our community’s needs. City Council has approved a budget that I believe strikes a balance between the dollars and the strategic direction,” City Manager Anthony J. Snipes said. “The City has traditionally operated in a fiscally conservative manner, and as a result, we have been able to weather recent regional sales tax revenue challenges and to maintain service levels for our citizens. Still, as an aging City in its 61st year of incorporation, we have impending infrastructural, organizational and technological needs. Simultaneously, we are monitoring common challenges faced by other local, regional and national municipalities and partnering with some to facilitate solutions while meeting expectations for outstanding service to our community.”
In the FY 2018 General Fund, $31,491,128 will be expended for personnel costs, or 66.5 percent of the General Fund expenditures; the budget funds a total of 366 full-time positions.
“The City is to be commended for its past conservative practices, not only in projecting revenues, but also in maintaining responsible expenditure and reserve levels. We will continue to reflect City Council’s traditionally conservative budgeting approach to address our community’s current needs while ensuring the long-term financial stability of Missouri City,” Mr. Snipes said. “While operations continue to be lean in the Show Me City, these practices have enabled us to remain on sound financial ground even while other communities may be forced to make difficult choices that impact service levels. Missouri City is proud to provide current core service levels with responsible and reasonable augmentations to continue superior service to citizens.”
Other budget highlights include:
For updates, please watch the City website, like us on Facebook, follow us on Twitter and Instagram, and watch Missouri City Television (Ch. 16 on Comcast and Ch. 99 on AT&T U-verse).