Page 6 - Lake Worth FY23 Adopted Budget Ord 1241
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CITY OF LAKE WORTH
SUPPLEMENTAL INFORMATION
RELATED TO THE PROPOSED BUDGET
FOR FISCAL YEAR ENDING 09/ 30/ 23
PROPERTY TAX RATE COMPARISON
FISCAL YEAR
2022/ 2023 2021/ 2022
Property Tax Rate 0.458548/ 100
No -New -Revenue Tax Rate 0.438928/ 100 0.458548/ 100
No -New -Revenue M & O Tax Rate 0. 194357/ 100 0. 197946/ 100
Voter Approval Tax Rate 0.448476/ 100 0,460662/ 100
De Minimis Tax Rate 0.517467/ 100 0. 542970/ 100
Debt Tax Rate 0. 240607/ 100 0. 255788/ 100
The proposed property tax rate for the 2022/ 2023 budget year is $ 0.438928/ 100 of
valuation.
The total debt obligation for Lake Worth secured by property taxes is $ 12,020,000.
The City of Lake Worth expects to expend $ 10,434 for notices required by law to be published
in anewspaper for the fiscal year ending September 30, 2022 and has budgeted $10,450 to be
spent for such notices for the fiscal year ending September 30, 2023.
The City of Lake Worth expects to expend $0 to directly or indirectly influence or attempt to
influence the outcome of legislative action for the fiscal year ending September 30, 2022 and
has budgeted $0 to be spent for such efforts for the fiscal year ending September 30, 2023.
Cash on hand by fund as of 06/ 30/ 22
General Fund $ 11, 797,902.00
Park Improvement Fund $ 333,428.00
Child Safety Fund $ 5, 990000
Court Technology Fund $ 20, 870.00
Court Security Fund $ 103, 611.00
Confiscated Property Fund $ 21, 337.00
Street Maintenance Fund $ 1, 457, 502900
Municipal Jury Fund $ 543. 00
Truancy Fund $ 27, 209.00
Stormwater Utility Fund $ 90, 697. 00
PEG Fund $ 110,462.00
DOJ Equitable Sharing Fund $ 15, 767.00
Water/ Sewer Fund $ 3, 806, 152. 00
Debt Service Fund $ 1, 296,418.00
Vehicle Replacement Fund $ 227, 852900
2020 Certificates of Obligation $ 1, 061, 206.00
Hotel Tax Fund $ 1, 273, 826.00
The cash balances listed above are unaudited. For the most recent complete audited
financial statements please visit the City's website at www.lakeworthtx.ore.
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