Page 24 - FY 24 Budget Forecast at Adoption.xlsx

Water and Wastewater cash‐funded projects for FY 2023‐24 include $250,000 for the SWIFT
waterline project, $200,000 for annual waterline replacements, $200,000 for yearly wastewater
line replacements, $175,000 for tank maintenance and $550,000 for a Vac‐Con machine.

One‐Time, Cash‐Funded Projects

This year's overall proposal is an operationally balanced budget with ongoing revenue exceeding
ongoing expenditures. The adopted budget shows overall expenditures exceeding revenues by
$6,437,196. However, a few funds will be cash funding one‐time projects through the use of fund
balance.

By taking advantage of fund balance to cash‐fund projects, the city can address significant citizen
and department needs without increasing property or utility rates — or issuing debt. Below is a
list of one‐time, cash‐funded projects included in this year's budget and their associated funding
source:

 Pavement Markings ‐ $700,000 from the General Fund
 Old Town Keller East ‐ $580,000 from the General Fund
 Mt. Gilead Road Reconstruction ‐ $512,500 from the General Fund
 Dump Truck Replacement ‐ $216,000 from the General Fund
 Signal Modifications ‐ $200,000 from the General Fund
 Police Station Renovation ‐ $4.5 million from the Keller Crime Control and Prevention
District Fund
 Axon Body Worn Camera & Fleet Camera System ‐ $230,000 from the Keller Crime Control
and Prevention District Fund
 Automated License Plate Reader System ‐ $100,000 from the Keller Crime Control and
Prevention District Fund
 GIS Website upgrades ‐ $25,000 from the Information Technology Fund
 Woods Drive Drainage Project ‐ $200,000 from the Drainage Fund

Strategy 3.2: Strive to Ensure Keller's Taxpayers Do Not Pay More City Tax Dollars on a Year‐to‐
Year Basis

Since 2014, Keller has taken steps to mitigate our property owners' taxes each and every year,
countering rising valuations, and in 2016, we began steadily increasing the homestead
exemption. In 2021, city leaders worked together to adopt a budget that included the most
significant tax mitigation effort in Keller's history at the time: maintaining the tax rate below the
no‐new‐revenue rate and increasing the homestead exemption from 14% to 20%, the maximum
allowed by the State of Texas. In 2022, with a 4.05‐cent cut to the tax rate, mitigation efforts
exceeded even those of 2021.

Our tax relief efforts will continue this year. Not only will Keller maintain its homestead
exemption at the state max 20%, but we will also be dropping our tax rate from $0.35450 per

22