City leaders look at present, future budget

by | May 20, 2021 | Latest

Murphy City Councilmem­bers received a general over­view of the budget and then heard reports from various department heads for budgets for the next fiscal year – from human resources to municipal court to police and fire depart­ment – at May 6 retreat.

At the retreat, councilmem­bers discussed fiscal year 2022, which begins Oct. 1. For FY21, it has projected general fund revenues – $15,083,148 – that will exceed budget estimates – $15,039,556 – by $43,592. Expenditures, though, will be $43,482 less than what was budgeted: from $15,477,185 to $15,433,703.

“Both of those are what we would call favorable variances,” said Karen Montgomery, city fi­nance director, in a later inter­view, explaining there is less of deficit by $87,074.

The FY21 general revenue fund budget has a $351,000 shortfall. When the budget was finished last year, city officials thought the shortfall was going to be $438,000, but the shortfall of $351,000 is an improvement of $87,000.

“Historically, we are so con­servative and in addition to being conservative, we’ve had very responsible practices,” Montgomery said.

The city has never ended a year with a deficit, but the city also has a sizable fund balance/ reserve, she said.

“Every time the year ends, whatever surplus we have goes into increase our fund balance, the reserve,” Montgomery said. “The opposite would happen if we should have a shortfall. If the shortfall becomes realized, we have a large enough fund balance that can absorb that and still ex­ceed the reserve requirements that the city council has set by policy.”

For the full story, see the May 20 issue or subscribe online.

By Don Munsch [email protected]

0 Comments

Related News

Police searching for suspect

Police searching for suspect

Murphy Police have been busy trying to track down the suspect that attacked a 16-year-old male around 8:30 p.m. in the 200 block of Rolling Ridge Monday, Jan. 17. Police Chief Chris Chandler reported that the teen had been exercising in the area by Liberty Ridge Park...

read more
Profane merchandise prohibited at city events

Profane merchandise prohibited at city events

Murphy City Council considered an ordinance prohibiting certain merchandise from being sold in the Jan. 18 regular meeting. Many Murphy residents were upset that merchandise containing profane language was on display at a vendor booth during last year’s Maize Days...

read more
WISD dedicates Williams Center

WISD dedicates Williams Center

There was action on and off the court Tuesday, Jan. 4 as the Williams Center was officially dedicated by Wylie ISD. The center was built with funds secured in the passage of the $193.7 million WISD bond in May 2019. Of the total bond amount, $87 million was used for...

read more
COVID-19 continues to surge

COVID-19 continues to surge

Health officials reported the highest single day COVID-19 case count last week with more than 1 million infections. A total of 1,082,549 new COVID-19 cases were reported Monday, Jan. 3, according to data compiled by Johns Hopkins University. The large number of new...

read more
New electoral maps take effect Jan. 18

New electoral maps take effect Jan. 18

Following the 2020 Census, the Texas Legislature completed the important task of redrawing the electoral maps to be used over the next decade. Three new laws are set to take effect Jan. 18 following their approval during the 87th Legislature. House Bill 1, which sets...

read more
Plano East wins road game over Coppell

Plano East wins road game over Coppell

Hoping to bounce back after a loss, the Plano East Panthers responded in a big way with a district victory. Traveling to Coppell (3-1, 16-9), Plano East (3-1, 21-2) jumped out to an early first quarter lead and won 54-45. Muizz Qazi scored 12 points and Brandon...

read more
Lady Panthers win key district game over Coppell

Lady Panthers win key district game over Coppell

In a battle of the top two teams in District 6-6A, the Plano East Lady Panthers came out on top over the Coppell Cowgirls. Plano East (6-0, 16-3) got off to a hot start and withheld a furious Coppell (5-1, 27-1) rally to win 42-37 Tuesday night. Seniors Donavia Hall...

read more
Plano ISD updates COVID-19 protocols

Plano ISD updates COVID-19 protocols

Because of the rising number of COVID-19 cases, Plano ISD has updated the guidelines for schoolwide events and activities to protect the health and well-being of students and staff. The revised guidelines, which will be in effect through Feb. 4, include prohibiting...

read more
Dallas County opens additional testing sites

Dallas County opens additional testing sites

Amid a national testing shortage, Dallas County Health and Human Services (DCHHS) will open four additional testing sites. The new facilities in Dallas County will be for anyone who needs a PCR COVID test. In addition to COVID tests, flu tests will be available at...

read more