Page 14 - Colleyville FY19 Budget

• Includes investment in and replacement of the City’s infrastructure

Year 1 (fiscal year 2019) of the City’s 5-Year CIP includes over $15 Million in
projects to replace aging infrastructure, both above and below ground. These
projects include street rehabilitation, water line replacements, park
improvements, and reinvestment in City facilities such as the library. Ensuring
that these community assets are well maintained is and will continue to be a high
priority. These projects are all fully-funded with cash that is currently available
or with revenues projected to be received during this time period. No new debt
is planned and the City is actively working to pay off all outstanding debt, which
should be accomplished in less than 10 years.

• Furthers beautification efforts throughout the community

The fiscal year 2019 budget provides funding to further beautification efforts
throughout the community. This includes improvements to medians and
roundabouts, as well as a new public art program to incorporate bronze sculptures
into the City’s roundabouts. Funding is also included for design and installation
of median and right-of-way improvements along the SH26 corridor. The City
recognizes that this corridor is truly Colleyville’s main street, and the look and feel
should be reflective of the exceptional quality found throughout Colleyville. This
desired quality is above and beyond the standard landscape, hardscape, and
streetlights provided by TxDOT, which is why the City has allocated additional
funds to ensure the final product is something citizens can be proud of.

ADOPTED BUDGET BY FUND: GENERAL FUND

In developing the fiscal year 2019 budget, the objective was to achieve a balance
between revenues and expenditures, and prioritize operational needs with long-term
community investment strategies. As mentioned previously, efforts are made to
identify other funding sources before committing general fund dollars to a project or
cost, limiting the reliance on the primarily property tax supported general fund. The
general fund accounts for the resources and expenditures related to the generally
recognized governmental services and/or functions provided by various City
departments – it is a governmental fund type.

Revenues
General Fund revenues in the adopted budget total $24,110,961. Major revenue
considerations include:
• A tax rate decrease from $0.333834 to $0.320800 per $100 of valuation
• No increase in ad valorem revenue due to adoption of an effective tax rate
• Conservatively projected growth of 2 percent for sales tax revenue

Property Tax

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