PPT Proposed Budget FY 2023-24

1. ADMINISTRATION AND
FINANCE
Presented by:
Robert Galindo
Finance Director
PROPOSED FY 2023-2024 BUDGET
ITEM # 4
AUGUST 14, 2023

2. PROPOSED FY 2023 – 2024 BUDGET
In accordance with Texas State law and generally
accepted accounting standards, the City adopts a
balanced budget for each fiscal year.
The Budget is required to cover only those expenditures
with revenue for which the City has authority to levy –
Creating a Balanced Budget.
Schedule a Public Hearing for the proposed budget.
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3. BUDGETARY POLICY
The Proposed FY 2023-2024 Budget Revenues cover
operating expenditures and creates working capital of
$53,394.
This working capital can be returned to the Fund
Balance or designated to fund capital assets or other
projects.
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4. SUMMARY OF PROPOSED BUDGET FY 2023-24
Tax Rate
General Fund Budget
Comprehensive Fund, Capital Projects, Street Maintenance Fund &
Capital Replacement Fund
Utility Fund Revenues and Allocations
Capital Projects Fund
Questions or Guidance to Staff on Final Budget
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5. SUMMARY OF PROPOSED GENERAL
FUND FY 2023-24 BUDGET
The Government Finance Officers Association (GFOA) recommends at least a 25% Fund Balance of the General
Fund operating budget. The General Fund had a balance of 57% of the operating budget at the end of 9-30-21.
The fund balance allows the city to withstand any unforeseen disasters and emergencies. It also saves thousands in
interest costs if the city issues bonds because the city has a AAA rating from S&P. 5
FY 2023-2024
Beginning Fund Balance $ 8,406,314
Operating Revenues $12,445,155
Departmental Allocations -12,391,761
Remaining Funds Available $ 53,394
Projected Fund Balance $8,459,708

6. PROPOSED UTILITY FUND BUDGET FY 2023-24
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FY 2023-2024
Beginning Fund Balance $1,639,241
Revenues $6,124,007
Operating Expenses - 6,113,511
Working Capital $10,496
Projected Fund Balance $1,649,737

7. Funding Summary
Comprehensive
Plan
Street
Maintenance
Capital Projects Capital
Replacement
Projected Fund Balance
10/1/23
$ 353,890 $ 560,789 (3) $14,638,468 $ 613,487
Revenues/Transfers $ 25,000 (2) $ 868,811 $ 25,000 (4) $ 60,000
Expenditures (1)-$ 50,000 -$1,000,000 (4)-$ 25,000 (5) -$ 25,816
Projected Ending Balance
9/30/24
$ 353,890 $ 429,600 $14,638,468 $ 647,671
OTHER GOVERNMENTAL FUNDS PROPOSED FY 2023-24
1) Community grant program
2) Street Maintenance estimated dedicated ½ cent sales tax revenue
3) 2021 Taxable bond proceeds of $13,250,000 are included in balance
4) Olmos Basin Cleanup $25,000
5) Transfers from General Fund of $60,000 for future ambulance
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8. NEXT STEPS
 Council votes to set a Public Hearing for the
proposed FY 2023-2024 Budget on August 28,
2023.
 Council votes to have an action item to adopt the
proposed FY 2023-2024 Budget on August 28,
2023.
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9. COUNCIL ACTION NEEDED
 I move the City hold a public hearing for the
Proposed FY 2023-2024 Budget on August 28,
2023.
 I move the City have an action item to adopt the
Proposed FY 2023-2024 Budget on August 28,
2023.
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