August 10, 2018 – City of Palmview – Public Meeting

PUBLIC HEARING NOTICE

NOTICE IS HEREBY GIVEN TO ALL INTERESTED PERSONS, THAT:

The City of Palmview City Council will hold a Public Hearing on Tuesday, August 21, 2018 at 6:00 p.m. at Palmview City Hall, located at 400 W. Veterans Blvd., Palmview, Texas, to consider the following:

City of Palmview Municipal Budget for Fiscal Year 2018-2019

Members of the public are encouraged to provide input through any means available including by mail at the address above and/ or by attending the public hearing. A copy of the proposed budget is available for inspection in the City Secretary’s Office located at City Hall.

Estimated Revenues
Total estimated revenues from all sources for FY 2019 are $6.1 million, an increase from $5.7 million budgeted in FY 2018. This revenue estimate is based on conservative property tax, sales tax and economic activity projections.

Proposed Expenditures
The proposed expenditures for all Departments for FY are $5.7 million, an increase from $5.4 million budgeted in FY 2018. These proposed expenditures are based on conservative personnel, operating, and capital costs.

Proposed Capital Expenditures
On June 5, 2018, the Council approved the Capital Improvement Program (CIP). However, this is subject to change before the end of the FY 2018. As the Council amends the CIP, the Method of Financing and corresponding Debt Service must be calculated and included in the FY 2019 Budget.

Net Surplus
The Palmview Municipal Budget for FY 2019 has a surplus of $420,000. However, after accounting for a General Fund reserve of $306,000, a net surplus of $114,000 remains.