San Marcos City Council on Tuesday unanimously voted to approve a $214 million budget that includes more than double the original funding earmarked for drainage improvement projects. The fiscal year 2017-18 budget, which begins Oct. 1 and runs through Sept. 30, 2018, comes with an 8.37 cent increase approved by voters in May as part of the $32 million public safety and library expansion bond. The new tax rate, 61.39 cents per $100 valuation, promises to raise property tax revenue by 25.2 percent to bring $5.49 million to the city. Nearly $960,000 of that comes from new construction. City Council chose to use some of the revenue that comes from the tax increase to pay off old bonds after consulting with its bond financial adviser, Dan Wegmiller. This will save the city $895,416 in interest payments, according to Wegmiller. "It's like prepaying a mortage," he said. The balanced budget is a 10.44 percent, or $20.24 million, increase from last fiscal year's budget. "We have spent a lot of time together over at least 10 different discussions over the past seven months on this very big budget," Mayor John Thomaides said prior to the vote. In the general fund, the city expects to have $71.38 million in revenue from sales taxes, property taxes and other fees, an $8.14 million increase from last fiscal year. The city also expects to spend $73.28 million in FY 2017-18. The $1.9 million difference between revenue and expenditures will be taken from the city's fund balance, or savings account. Citizens' drainage rates are expected to increase to fund the additional money for drainage projects. About $49 million is budgeted for 2018 projects approved in the city's 10-year capital improvement program.