Page 341 - Hurst Adopted FY22 Budget

(I&S) rate. The M&O rate funds operations while the I&S rate funds our debt service
obligations. The proposed M&O rate is $0.501406 while the required I&S rate is
$0.108365 per $100 in valuation.

Funding and Sources and Community Sustainability:

The proposed tax rate provides funding for continued services consistent with the Hurst
Way and the Strategic Plan. The proposed tax funds the proposed budget and ensures
we continue to fund the responsive services and effective programs that help ensure
Hurst remains a vibrant community

Recommendation:

In order to comply with Truth-in-Taxation Laws, staff recommends that the City
Council vote to place a proposal to adopt a tax rate of $0.609772 per $100
valuation on the agenda of the September 14, 2021 Council Meeting.

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