City Council Adopts $146 Million Budget
The San Marcos City Council Tuesday adopted a municipal budget of $146,226,256 for the 2009-2010 fiscal year beginning October 1, 2009. The budget is an increase of 0.35% (or one third of one percent).
The City Council Tuesday also adopted a property tax rate of $0.5302 per $100 of value, the same rate as 2008-09. The property tax rate will generate additional revenue of $694,758, reflecting a 5.8% increase in property values—two-thirds of which were added to the tax roll by new development.
Property values increased by $131 million, or 5.8% above the 2008-09 fiscal year. The new values reflected $90.1 million in new development, or 3.99%, and $40.9 million in existing values, or 1.81%.
The average home value increased from $118,238 to $119,462, with the average tax bill of $628.85, an increase of $1.95 for the year.
The City Council maintained the same water / wastewater and electric rates in the new budget. Solid waste and recycling rates also will remain the same.
“The 2010 municipal budget reflects a strict adherence to the City Council’s goals and conservative budgeting in tight economic times,” said City Manager Rick Menchaca. “However, we are maintaining all current services and workforce and investing in public safety for our community.”
The General Fund budget is $39.9 million, the Water/ Wastewater Fund is $27.1 million and the Electric Utility Fund is $56.3 million.
Some of the highlights of the 2010 San Marcos budget include:
- Funding for nine new firefighters and the first year of funding for a meet and confer agreement with police and firefighters.
- Preventative maintenance for City facilities and fleet
- Technology enhancements
- Fire apparatus for the downtown Fire Station
- A decrease in the cost of wholesale electric power, reducing costs to customers
- Water conservation and energy efficiency and incentive programs
- Development of water resources
- Economic development
- Implementation of Capital Improvement Projects
- An upgrade in bond ratings for Water/ Wastewater revenue bonds
The budget contains a projected 2% increase in sales tax revenues compared to actual collections in FY 2009. Sales tax revenues represent 46.3% of General Fund revenues.
The 2010 budget focuses on the City Council’s vision and goals for San Marcos. They include:
- Expanding Economic Development
- Improving the Image of the City of San Marcos
- Enhancing the Region’s Transportation Grid
- Improving Collaboration between the City and Regional Entities
- Supporting Environmental Protection and Smart Growth
The adopted budget will be posted on line at sanmarcostx.govlater this month. Currently the proposed budget and other information are posted on the City’s web site.