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CITY OF PALMVIEW BUDGET

PUBLIC HEARING NOTICE

NOTICE IS HEREBY GIVEN TO ALL INTERESTED PERSONS, THAT:
In an accordance with order of the Office of the Governor issued March 16, 2020, the City Council of the City of Palmview will conduct a Public Hearing during a called Regular Meeting to be held virtually on Tuesday, September 15, 2020 at 6:00 p.m. in order to advance the public heath goal of limiting face-to-face meetings to slow the spread of the COVID19 (Coronavirus). There will be no physical public access to this meeting, however, there will be real time virtual access on http://facebook.com/cityofpalmview/. The item for consideration is the following:

City of Palmview Municipal Budget for Fiscal Year 2020-2021

A copy of the proposed budget is available for inspection on the city’s web page at www.cityofpalmview.com or in the City Secretary’s Office located at City Hall. Members of the public are encouraged to provide input via email at avillarreal@cityofpalmview.us up to fifteen minutes before the start of the meeting (5:45 p.m.). Alternatively, for virtual input before the City Council, kindly contact the City Secretary at (956) 432-0324, up to one hour before the start of the meeting (5:00 p.m.). Another option is to provide input by mail at: City of Palmview c/o City Secretary; 400 W. Veterans Blvd., Palmview, Texas 78572.
“This Budget will raise more revenue from Property Taxes than last year’s Budget by $153,754, which is a 5.62% increase from last year’s Budget. The property tax revenue raised from new property added to the tax roll this year is $48,773.”

Estimated Revenues
Total estimated revenues from all sources for FY 2021 are $7.7 million, an increase from $7.6 million budgeted in FY 2020. 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 2021 are $7.7 million, an increase from $7.6 million budgeted in FY 2020. These proposed expenditures are based on conservative personnel, operating, and capital costs.
Proposed Capital Expenditures
On June 9, 2020, the Council approved the Capital Improvement Program (CIP). However, this is subject to change before the end of the FY 2020. As the Council amends the CIP, the Method of Financing and corresponding Debt Service must be calculated and included in the FY 2021 Budget.
Net Surplus
The Palmview Municipal Budget for FY 2021 does not have a surplus and will not fund the 5.0% General Fund Reserve for this fiscal year.

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