August 18, 2017 – City of Palmview’s Municipal Budget for Fiscal Year 2017-2018

The City of Palmview’s Municipal Budget for Fiscal Year 2017-2018

Estimated Revenues

Total estimated revenues from all sources for FY 2018 are $5.8 million, a decrease from $5.9 million budgeted in FY 2017. This revenue estimate is based on conservative property tax, sales tax and economic activity projections.

Proposed Expenditures

Total proposed expenditures for all Departments for FY 2018 are $5.8 million, a decrease from $5.9 million budgeted in FY 2017. These proposed expenditures are based on conservative personnel, operating, and capital costs.

Proposed Capital Expenditures

On June 14, 2017 the Council approved the Capital Improvement Program (CIP). However, this is subject to change before the end of the Fiscal Year 2017. As the Council amends the CIP, the Method of Financing and corresponding Debt Service must be calculated and included in the FY 2018 Budget.

Net Surplus

The Palmview Municipal Budget for FY 2018 has a net surplus of $22,000. However, an additional $267,000 is needed to establish a General Fund reserve of $289,000.