Feryan presented an overview of the funds during a budget workshop session Aug. 8, giving Grapevine council members and the public a preview of the overall budget along with a breakdown of several components.
The breakdown
Overall, the city projects to have total revenues add up to $214.5 million, while expenses for the city total about $212.3 million in the proposed budget. Both figures account for several fund components, including the general, debt service and utility funds.
The general fund is balanced, Feryan said, which is in accordance with city requirements. Revenues and expenditures are both nearly $80 million.
Grapevine’s debt service fund revenues are budgeted at $15.38 million with expenditures of $14.5 million for the upcoming fiscal year beginning in October. The utility fund revenue is estimated $32.17 million with expenditures of about $32.08 million, according to documents included with the agenda.
Interested individuals can visit the city’s dedicated budget webpage to view the full proposed budget and fund breakdown.
What’s next
As part of the budget proposal, city staff is expected to present a proposed tax rate during the Aug. 15 City Council meeting. A public hearing and adoption for both the tax rate and budget is set to take place during the Sept. 5 meeting.
