Sachse is one step closer to adopting its final budget following a presentation by Director of Finance David Baldwin.

Baldwin presented the budget to council during the Monday, Aug. 15, meeting ahead of a public hearing on both the budget and tax rate in September.

Based on the preliminary budget councilmembers received during an Aug. 1 budget workshop, there were minimal changes, said Baldwin. The city’s current fiscal year ends Sept. 30 with the next one beginning Oct. 1 and running through Sept. 30, 2023.

Consistent with existing city procedures on both revenue and expenditure projections, Baldwin and his staff did not budget major increases to either.

“There’s minimal to no growth from the 2022 projections for the major revenues,” Baldwin said. “The increase in revenues that you saw is capturing the value that we’ve been seeing in our monitoring reports for the last number of years. There’s no assumption for growth in revenues going forward.”

This year’s projected revenue is $25.1 million, a 17% increase from the $21.4 million budgeted for the current year. The revised figure Baldwin presented was an increase from the $24.7 million presented to council in early August.

Baldwin said the city is projecting a 7.2% increase to revenues from property taxes, which are supported by a 25% growth to the city’s appraised property values. However, there is only minimal growth projected for other revenue streams, he added.

There was a slight increase to the city’s projected expenditures for the upcoming fiscal year between the preliminary budget of $24.73 million and the final proposal of $24.74 million.

The budgeted $24.74 million in expenses is a 15% increase from the $21.5 million in expenditures in the previous budget.

For the full story, see the Aug. 25 issue of The Sachse News.