More results found.
No results match your search term, but we're constantly adding new issuers to the BondLink platform. Looking to learn more?
Sugar Land city officials presented a proposed budget of $353 million for fiscal year 2023-24, which will begin Oct. 1. The new budget allocation includes $288 million for operational expenses and $65 million for various capital projects, according to a news release.
The primary focus of the new budget is to ensure the city's continued financial and operational stability, aiming for long-term sustainability, according to a city news release. The goal is to balance investments in both operations and capital funding to enhance resiliency for FY 2023-24 and beyond, according to the release.
Sugar Land City Manager Michael Goodrum expressed his vision for the city's future.
“Our proposed budget emphasizes our pursuit of becoming trailblazers as we seek to provide city residents and businesses a life better than they can even imagine,” he said.
The proposed budget centers on the following “strategic outcomes” as prioritized and labeled by the Sugar Land City Council, according to the news release:
To mitigate the impact of an anticipated tax rate increase, Sugar Land raised the homestead exemption to 15% for 2023, as previously reported by Community Impact.
This exemption increase will partially counterbalance the expected tax rate rise of approximately $0.035-$0.35 per $100 valuation, necessary to implement voter-approved bond projects, according to the release.
Additionally, the proposed capital improvement program for 2024-28 amounts to $291 million with $65 million allocated for the FY 2023-24 budget. This includes funding for two 2019 bond projects: the Emergency operations center/public safety dispatch and public safety facilities rehabilitation. Furthermore, strategic funding is provided for other critical projects addressing public safety and mobility priorities, according to the release.
Additionally, the rate for residential solid waste services is $19.85 per month, and it will increase by 99 cents to $20.84 per month starting in January.
To involve the community in the budgetary process, a series of budget workshops open to the public will be conducted throughout August at Sugar Land City Hall. Public hearings are scheduled until the end of September, where residents can provide feedback on the proposed budget and tax rate before their final approval. As per the city charter, the budget adoption must be completed by Sugar Land City Council no later than Sept. 25.