City staff presented an overview of revenues and expenditures for operating funds to Richardson City Council during a two-day budget workshop Aug. 5-6.
What you need to know
The projected revenues and rate increases presented during the budget workshop are still preliminary until the proposed budget is filed, which is expected to be Aug. 15, according to a staff presentation. During the budget workshop, City Manager Don Magner presented four focus areas: recruitment and retention, public safety, infrastructure, and economic development.
As part of the proposed budget, Magner said city staff project a 3% merit-based pay raise for all employees, including public safety personnel. Some police and fire employees within the five-year step plan are also expected to receive a raise.
Revenues for the city’s general fund are estimated at $180.7 million for the 2024-25 fiscal year, per the presentation, while expenditures are $180.3 million.
Digging deeper
As part of the proposed budget, residents can also expect increases to their utility bills. Budget Officer Bob Clymire said there are planned 3% increases for water and sewer service because of increasing cost from the city’s utility providers, including the North Texas Municipal Water District.
Residential drainage fees are expected to increase by $1 to $5.25 per month, according to the presentation. Trash service fees will increase by $2 per month and $1.47 per month for customers age 65 and older, respectively.
Magner also presented a proposed tax rate of $0.54218 per $100 of assessed value for the 2024-25 fiscal year. The maintenance and operations component—which covers most city operating expenses—would be $0.32439 and the interest and sinking component—used to pay off debt—is estimated to be $0.21779.
Looking ahead
City staff will present the proposed budget, likely during the Aug. 19 meeting.
Council members approved resolutions to call for public hearing on the tax rate for Sept. 9 and the budget Sept. 16.
