Page 3 - Trophy Club FY22 Budget

Mayor Fleury and Members of the Town Council,

On behalf of the entire Town’s staff, I am pleased to present the Town of Trophy Club FY2022 budget.
This budget document is the collective efforts of all departments to meet the clear vision for our
community as laid out by Town Council and our citizens as reflected in our 2021 Citizens’ Survey. Our
citizens have spoken and we have responded by maintaining the high level of service that they have
come to know and expect while holding our current tax rate steady enabling us to focus on the long‐
term health and stability of our Town’s economic position.

At our last Council Retreat the following objectives were agreed upon by Council and given to staff to
implement over the next several years. The objective that have been accomplished have been lined
through and staff is still working towards the implementation of the remaining items which is reflected
in the FY2022 Budget.

1. Develop a MUD consolidation plan
2. Address drainage issues throughout Town
3. Provide more opportunities for citizens and contractors to obtain their needs online
4. Remove Council Liaison Positions
5. Facilitate a Citizens’ Survey
6. Provide a long‐term strategic plan
7. Ensure the safety of our citizens by providing competitive salaries for our Fire and Police
Departments
8. Form residents ad hoc committees to research feasibility of increased mobility throughout Town
9. Increase the beautification of our Town by adding entryway monumentation
10. Determine the need for and develop an action plan to improve pickle ball amenities
11. Develop a plan to alleviate traffic issues when the 144/377 interchange is constructed
12. Determine the feasibility of construction and operation of a Community Center
I am proud to say that the current economic position of the Town is strong with end of year projections
of unassigned reserve fund balance reaching $6.7 million or 59% of our annual operating expenses.
Trophy Club has a AA+ bond rating allowing the Town to receive favorable interest rates on future bond
purchases which allows us the opportunity to fund projects to improve/replace infrastructure
throughout our Town ensuring current and future residents that we will continue to be “A Great Place
To Call Home”. The proposed budget includes total revenues of $12,292,408 which includes an increase
in sales tax of approximately 16% over sales tax collected the previous year. Next year we are
estimating to collect $1,250,000 in sales tax. This is exciting news but must be balanced with the
knowledge that sales tax only provides 10% of our total revenues. Total expenditures, excluding capital

2 FY22 Approved Budget