Thursday, December 1, 2022

Mayor John Huffman Talks Budget Process with Southlake CFO Sharon Jackson

This week on Minute with the Mayor, it’s all about the budget. Mayor John Huffman sat down with Southlake’s Chief Financial Officer, Sharen Jackson to explain the budget and role that planning plays in the budget process.

“One of the most important things we do on City Council is pass an annual budget and we want that budget to reflect our priorities of fiscal responsibility and tax relief and that’s what we’ve done once again,” Mayor Huffman said. “The budget process ends with votes on Council but starts many months before then.”

This year, the City:

  • Reduced the tax rate by 3 cents.
  • Maintained the homestead exemption of 20 percent, which is the maximum allowed for state statute.
  • Improved City services.

“We were also able to enhance some services including the SRO program, we were able to keep our schools safe by adding four additional SRO’s in this year’s budget while reducing the tax rate,” Jackson said.

Jackson emphasizes that Southlake is known for its planning.

“We plan appropriately, we know what’s coming we’re very strategic in our planning, we look and budget not just for today but in multi-year; we look at five year, so we can plan what’s coming and ensure we have a sustainable budget to meet all the needs of the community as well as enhancing the services that we provide,” Jackson said.

The City of Southlake is one of two cities in Texas with a AAA Bond Rating, which is the highest rating achievable.

Mayor Huffman credits the City Manager and Chief Financial Officer for their efforts in the budget process.

“A budget does not happen by accident, it’s very intentional and starts with Sharen and Shana Yelverton, our City Manager,” said Huffman.

For a closer look at the budget, please visit www.CityofSouthake.com.