Page 20 - CityofMansfieldFY24Budget

The budget that accompanies the service program maintains this focus and recognition that growth must
produce value and quality.

Public Input

The City conducted public hearings on August 28, 2023, and September 11, 2023, on the FY 2023-2024
budget and the tax rate. Prior to the hearings, a balanced budget addressing the annual service program
priorities, staffing, equipment needs, and proposed infrastructure improvements for the upcoming fiscal
year was presented in detail at the August 14, 2023, regular City Council meeting. There were no
comments on the city budget or tax rate heard from the citizens.

City Council’s level of involvement during the entire budget process resulted in further reduction to the
property tax rate between the proposed budget presentation on August 14, 2023, and the final public
hearing to adopt the budget and tax rate. On September 11, 2023, City Council voted unanimously 7-0 to
adopt the tax rate. Separately, the City Council voted to approve the budget as presented by the City
Manager also by a unanimous vote of 7-0.

Click on the link below to view the FY24 Budget Presentation to City Council on September 11, 2023.

FY24-Budget-2nd-Public-Hearing-9-11-23

2023-2024 Budget Highlights

• City Council voted to decrease the tax rate from $0.68 to $0.659293 per $100 of valuation.
• City Council increased the Homestead Exemption by 2% bringing the total exemption to 14%.

• The City will provide employees with a one-time salary supplement of up to 3% based on performance.
• City Council members will receive a stipend of $2000/month.
• The City will add 10 new full-time equivalent positions city-wide.

• The City has allocated $5.4M for operating equipment.
• Increased funding for the Street Maintenance program to address infrastructure needs.

• The budget provides for a Community Activation Grant for local businesses.
• The City has improved the General Fund balance to over $31,000,000.

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