The second reading and final adoption of the Fiscal Year 2022 League City Budget is scheduled to be considered by the League City Council at their meeting on September 14. The budget councilmembers will consider has been revised from the proposed budget presented by City Staff on July 13, 2021. Changes include the following:
General Fund Property Tax revenue reduced $990,000 based on Council’s proposal of the 2021 tax rate of $0.465526, which is one cent less than the no-new-revenue rate used to prepare the proposed document.
Due to the anticipated decrease in property tax revenue, General Fund expenses are reduced by $990,000 in FY2022 from the amount proposed which include the reduction of 6 new positions and 6 new vehicles requested in the original proposed document. The reduction also removes funding in the CIP for a Fire Arms Training Facility study and a Police Academy needs assessment. One item, the completion of Engineering benchmarks, was added for $30,000 to be funded with General Fund’s excess fund balance.
The FY2022 budget ordinance also includes an additional $990,000 in General Fund’s excess fund balance to cash fund projects which will lower future debt issuance. This transfer will lower the General Fund working days of capital to 112.6, which is 2.6 days over the 110 days required by policy.
Minor changes were also made to the Utility Fund, 4B M&O Fund and the Hotel/Motel Tax Fund.