Balanced, conservative and forward thinking. These are the words to describe the proposed FY 2011 budget. The Southlake City Council has always kept an eye towards the future, planning for the city’s ongoing success. Strategic planning has driven a budget to ensure Southlake’s residents and businesses will see no City service reductions and the kickoff or completion of many large construction projects.
“The story of this upcoming year is really the foresight of the City Council,” said City Manager Shana Yelverton. “In past years the Council saw fit to create a strong financial environment to support their plans for the city. In FY 2011 funds are being put to work building parks, constructing roads and bridging the gaps in our sidewalks.”
The $70 million budget is structurally balanced and for the eighth straight year, the tax rate will remain unchanged at $0.462.
Proposed general fund expenses total $30.7 million and although revenues are expected to be flat, this budget will allow the City to provide a one-time, lump sum cost of living adjustment to city employees based on the 12-month average of the consumer price index. No staff layoffs are anticipated. (MORE)