The city of McKinney updated its proposed fiscal year 2017-18 budget to $433 million, a more than $1 million increase from the budget proposed Aug. 4, which was nearly $432 million.
This $1.14 million increase includes the following:
- $27,000 reduction for the Global Electric Motorcars request, which was a request for another vehicle as part of the downtown McKinney DASH shuttle;
- $43,687 increase in the Community Development Block Grant for funding allocation from Housing and Urban Development;
- $78,336 increase for part-time employee salaries at the Apex Centre;
- $1 million increase in the revenue bond debt service fund after final schedules were received after Aug. 4;
- $236,598 increase to the McKinney Economic Development Corp. for added staff positions;
- and a $829,675 increase to the McKinney Community Development Corp. after the MCDC’s board approved the budget. This was done after the Aug. 4 budget workshop.
The second public hearing on the proposed budget will take place at Tuesday’s city council meeting.
Council will also adopt the proposed tax rate, which is an approximate 3-cent decrease compared with the FY 2016-17 property tax rate, which is $0.5730 per $100 property valuation.
The city council meeting agenda can be found on the city’s website. The meeting and public hearing will be held at 6 p.m. at the Jack Hatchell Collin County Administration Building, 2300 Bloomdale Road, McKinney.