Flower Mound Town Council on Sept. 21 approved the budget for the 2020-21 fiscal year, which will cut general-fund spending by 3%. The body also approved a tax rate of $0.4365 per $100 of appraised property value, which would effectively raise property taxes by about 2%, according to the ordinance.
The town would hire no new full-time positions over the coming fiscal year, and there would be no salary increases for current employees.
The budget lays out roughly $69 million in expenditures from the town’s general fund while anticipating nearly $72 million in general-fund revenues.
In the budget calculations, the town staff assumed sales tax revenues would remain flat.
The town’s general fund balance dropped from more than $21 million to less than $18 million over the course of the past year. Under the recently adopted budget, the town staff anticipates the fund balance rising back to over $20 million.