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With the cooperation of the council and staff, the city ended fiscal year 2022, which ran from Oct. 1, 2021, through Sept. 30, 2022, in the best shape it has been in several years. File photo
With the year winding down and only a few days left in 2022, January brings the beginning of a new year.
Despite many challenges due to record inflation and supply chain challenges, the Meadowlakes City Council was able to adopt a fiscal year budget for 2023.
It will reflect not only a decrease in the ad valorem tax rate but we were also able to hold the water and wastewater rates, keeping them at the same rate as in 2022.
This could not have happened without the council's cohesiveness and the very dedicated staff.
With the cooperation of the council and staff, the city ended fiscal year 2022, which ran from Oct. 1, 2021, through Sept. 30, 2022, in the best shape it has been in several years.
The combined net gain for all funds of the city exceeded $122,000, with all funds posting net gains for the year.
While it is not uncommon for the general fund and the utility fund to show slight gains each fiscal year, the recreation fund showed a net gain for the first time in several years.
In addition to the net gains referenced above, the city's debt was reduced by over $495,000, and over $340,000 in capital purchases and improvements were accomplished in fiscal year 2022.
The budget received an unexpected windfall from the federal government of over $420,000 in COVID-19 relief funds. These relief funds will be utilized to renovate one of the city's two wastewater treatment plants.
Upon receipt of the first installment of these relief funds, the council reduced the wastewater rates by $5 per month. Unfortunately, when bids for the plant's renovation were opened in early fall, the lowest bid was over three times the estimated cost of the project.
Thus, staff and the engineer are reviewing the project, in general, to bring the plant's renovation within its budget of approximately $500,000.
As previously mentioned, the Meadowlakes City Council approved the City's $3.7 million fiscal year 2023 budget without increasing water and wastewater rates; in addition, the City's ad valorem tax rate was reduced by nearly 10%. Our ad valorem tax rate, water, and wastewater rates are among the lowest in the Hill Country.
The fiscal year 2023 budget reflects approximately $120,000 in capital purchase/improvements and the reduction of the City's debt by approximately $495,000.
As adopted, the fiscal year 2023 budget also reflects a net gain of just under $49,000.
Johnnie Thompson is the city manger of the city of Meadwlakes. The above submission is an excerpt from the municipal weekly newsletter.
‘The combined net gain for all funds of the city exceeded $122,000, with all funds posting net gains for the year.’
Johnnie Thompson City Manager