The city of Frisco began its 2014 fiscal year budget process on Aug. 6.

Frisco City Council members received the preliminary budget at the regularly scheduled meeting, but did not discuss it.

A budget work session has been set for Aug. 12.

The council voted to schedule public hearings on the budget for 6:30 p.m. on Aug. 20 and Sept. 3 in the council chambers at Frisco City Hall. Sept. 17 is the adoption date.

The proposed budget is based on a tax rate of $0.461910 per $100 property valuation, which the city has maintained for the past two years.

The council on Aug. 6 approved the effective tax rate (the calculated tax rate that generates the same total taxes as last year) at $0.438362. The rollback rate based on the proposed budget is $0.459049.

Because the effective tax rate and rollback rate are below the current tax rate, the city is required to conduct two public hearings. The proposed tax rate is $0.002861 more than the rollback rate, which equals about $425,545 in the General Fund.

The council also agreed to add to the work session a discussion on possibly calling for a bond election in May 2014.