FISCAL YEAR (FY) 2023-2024 RECOMMENDED BUDGET
The Fiscal Year 2023-2024 City Manager’s Recommended Budget is the financial roadmap for the City of Plano over the coming year. It reflects Plano's values and balances the needs of our community with available resources. Your local government is committed to Sustainable Excellence. We are transitioning to a larger focus on infrastructure maintenance, commercial and corporate redevelopment, and long-term revenue sustainability. The budget focuses on the five value-based priorities that keep Plano the City of Excellence. These priorities are: Quality Infrastructure, Service Demands and Programs, Financial Policies, People and Affordability.
The City is offering the same high-value programs and services our citizens and businesses expect. No new programs or services are included in this year's budget.
SERVICE DEMANDS/ PROGRAMS
For additional information regarding the Fiscal Year 2023-2024 Recommended Budget and Community Investment Program, visit Plano.gov/RecommendedBudget . If you have questions or comments, email AskPlano@Plano.gov . Plano continues to have one of the hottest housing markets in the North Texas area, which increases the value of many Plano families’ largest asset. Residential property value increases are capped at 10% for tax calculations. Homeowners are eligible for the statutory maximum 20% homestead exemption. If you're 65 and older, or disabled, with the property tax freeze applied to your property, you will see no increase in the city portion of your property tax bill. As an employer, we must be competitive at attracting and retaining our greatest asset, our people. Our staff provide a high level of customer service, and quality programs and services guided by our organizational values. Like all other businesses, we are dealing with a tight labor market and increasing health care costs. The budget includes a 3% salary increase, training and equipment.
YOUR LOCAL GOVERNMENT IS COMMITTED TO SUSTAINABLE EXCELLENCE.
AFFORDABILITY
The City of Plano is a maturing city. We have prioritized the maintenance and repair of our assets to make sure our community stays vibrant and attractive. We will continue to maintain City assets at a high level and be proactive in providing needed repairs. The Proposed Community Invest- ment Program (CIP) includes $340 million worth of projects during FY 2023-2024. This balanced budget continues to follow budget practices that allow Plano to hold a AAA bond rating, saving interest costs. These practices include maintaining reserves, funding liabilities annually, paying cash for maintenance items, sales tax cap policy and treating our enterprise funds like a business.
QUALITY INFRASTRUCTURE
PEOPLE
FINANCIAL POLICIES
ADDITIONAL INFORMATION
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