City Manager Proposed Budget now Available

Shavano Park Tax Rate Notice
2022 Tax Rates Calculation Worksheet

FY2022-2023 City Manager Proposed Budget

August 4, 2022 Special City Council Meeting (CM Budget Presentation)
All budget information is available at https://shavanopark.org/finances

This proposed budget will raise more revenue from property taxes than last year’s budget by an amount of $365,282, which is a 9.24% increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $87,076.

This proposed budget proposes a tax rate of $0.297742 cent per $100 of valuation. This proposed rate is a one cent increase from prior year’s tax rate to pay new debt costs associated with the voter-approved $10M Bond in the May 7, 2022 Bond Election. Based upon the assumed level of revenue, the budget allocates resources to meet target expenditures for operations, capital improvements, equipment replacement, and debt service.  While meeting funding requirements during this period of inflation, the budget accounts for an 4% compensation cost of living increase, several new and capital replacement requirements.  The budgeted General Fund expenditures are approximately $6.18M while the total expenditures of all funds are approximately $10.135M. 

 Property Tax Rate Comparison:

  FY 2022 FY 2023
Adopted/Proposed Total Tax Rate
No-New-Revenue Total Tax Rate
No-New-Revenue Maintenance & Operations
Adopted/Proposed Maintenance & Operations
Voter-Approval Total Tax Rate
Debt Tax Rate (I&S)
De Minimis Tax Rate
0.287742
0.286074
0.273811
0.275479
0.310192
0.012263
0.335514
0.297742
0.284198
0.261525
0.275069
0.326789
0.022673
0.341074


FY2023 Budget Calendar (August/September)
Thursday 4 August         Special Council Meeting 5:30pm - 
-      City Manager Submits Proposed FY 2022-23 Budget (No anticipated Council action)
-      Receive No-New-Revenue, Voter-Approval and Deminimis Tax Rate Calculations 

Wednesday 10 August      Special Council Meeting / Workshop 5:30pm
-    Discuss tax rate; if proposed tax rate will exceed the No-New-Revenue Rate, take record vote and schedule Public Hearing.

Tuesday 16 August         Special Council Budget Workshop 5:30pm
Monday 22 August     Budget Work Shop 5:30pm / Regular Council Meeting 
Wednesday 24/31 August    Publication - Notice of Budget Hearing
Wednesday, 31 August or  7 September - Publication - Notice of 2022 Tax Year Proposed Tax Rate
     
*****Public Adoption*****
Monday 12 September      Special Council Meeting 6:30pm – 
-      1st Reading of Budget/Public Hearing     
-      Announce meeting to adopt tax rate.

Monday 19 September     Regular Council Meeting – 
-       2nd Reading of Budget/Public Hearing
-       Adopt Budget by Ordinance
-       Levy Tax Rate by Resolution and take record vote