FY 2016-2017 Adopted Budget

Posted by Sherri Lewis on Oct 12, 2016
Tags: Business, Community, Government, Town News, Transparency


Town Council has approved the budget for FY 2016-2017.
Here is a quick look! 
(view the full budget document)

The adopted budget includes total revenues of $13,371,675 and expenditures of $23,380,300. Expenditures exceed revenues by $10,008,625 due to $9,816,900 of improvements in the Capital Projects Fund(for which debt was issued in prior periods or is anticipated to be issued in the budget year), $380,000 of improvements in the Hotel Occupancy Fund, and $50,000 in the Storm Drainage Fund paid for by operations. Excluding capital improvements, the overall budget contains a surplus (revenues over expenditures) of $238,275. The fund balance of the General Fund is anticipated to decrease $243,695 primarily due to a transfer of $250,000 to fund capital projects and the intentional draw down of fund balance to fund one-time capital replacement.

Personnel
Part-Time/Intern Administrative Assistant (2) • Investigative Assistant

Equipment Replacement & Capital
ACC Irrigation System • Irrigation Work Truck (Ford F-250) • Parks Crew Work Truck (Ford F-150) • Sand Pro 3040 Replacement • Independence Park West Facility Improvements • Ford Patrol Vehicle (Fully Equipped) • Aquatics Facility Annual Replacement • Server Replacement • Computer Replacement • Printer and Copier Replacement • IS Infrastructure Replacement • SAN Replacement • Physio Control Lifepak 15 • Shade Structure for Splash Pad • Backup Data Storage for PD • Harmony Park and Lakeview Park Wrought Iron Fence • Top Dresser • Ditch Witch Trencher • Independence Park West Scoreboards • Shade Structure for Playground - Independence Park West • Wayfinding signage, parks signage, entryway monumentation and public art

Capital Improvement Program | Capital Improvement Projects totaling $10,246,900, including:
Trophy Club Town Hall • Veteran’s Memorial and parking lot • Harmony Park parking lot • Indian Creek Drive reconstruction • Phoenix Drive reconstruction • Drive approach, parking lot, and irrigation of open space at Canterbury Hills Park

Property Tax Rate - The FY17 Budget is based on a property tax rate of $0.473 per $100 of assessed valuation. It was a Council and staff goal to decrease the tax rate. The adopted tax rate includes $0.110 to service debt and $0.363 to fund maintenance and operations. 
 

VIEW 
FY 2016-2017
Adopted Budget