The city’s sales tax revenue ended fiscal year 2021-22 at $108.5 million, $2 million over the estimate. Staff recommended the additional revenue be added to the city’s rainy day fund.
Plano’s water and sewer revenue exceeded the estimate by $10 million due to extreme heat in August and September, and the city also received a $1.1 million rebate check from the North Texas Municipal Water District. City staff recommended transferring $5 million to the Sewer Capital Improvement Project Fund to cover overtures on several projects as well as using $2 million to purchase a third generator at Ridgeview Pump Station.
Council added some of the additional funds should be used to lessen water and sewer rate increases for residents.
The Plano Balloon Festival went over the estimated cost by $44,000 due to the addition of a third day, and staff recommended covering the expenditures using savings in the Convention and Tourism fund.
City Council will vote on the budget updates during its Dec. 12 meeting.
