During its May 5 special meeting, Tomball City Council discussed the city's fiscal year 2024-25 budget and tax rate ahead of budget planning for FY 2025-26.
The details
In FY 2024-25, City Manager David Esquivel said the city's general fund revenues are anticipated to be $37.7 million, with $40.6 million in expenditures and a $2.8 million deficit, according to the presentation. The tax rate for FY 2024-25 is $0.336365.
Tomball will use its fund balance—essentially the city’s savings account—to cover the projected shortfall. The city’s fund balance sits at $32.3 million and is projected to have a balance of $29.4 million at the end of FY 2024-25, according to the presentation.
According to the presentation, the general fund is the largest operating fund for the city and is primarily funded through sales and property taxes. Esquivel said the fund is most impacted by changes in personnel costs.
According to the presentation, the general fund is the funding source for departments, including:
- City manager’s office
- Police
- Fire
- Finance
- Human resources
- Information technology
- Community development
- Streets, parks, facilities, garage
- Community Center
- Community service officer
- Downtown bus/trolley circulator
- Expanding the historical archives program
- Special event security improvements
Stay tuned
City Council will continue to meet leading up to adopting the tax rate and budget for FY 2025-26.
