Flower Mound makes up for expected loss in revenue

Flower Mound is anticipating a shortage of $3.1 million in total revenue this year, with a 7% decrease in sales tax revenue.

The city was able to make up for this loss by adjusting its expenditures by $3.7 million, according to Debra Wallace, deputy town manager and chief financial officer. This created a savings of roughly $500,000, Wallace said.

Cut expenditures included the decision to not hire additional seasonal workers for the summer.

In May, sales tax revenue for Flower Mound came back better than expected, beating the 13% expected decrease with a roughly 6% decrease.

Wallace shared a brief budget update at the July 20 meeting where council members also discussed a number of development projects, among other topics.

A full recording of the meeting can be found here, and agendas and meeting minutes can be found on the town website.