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Community Impact Newspaper communityimpact.com
FISCAL YEAR (FY) 2022-2023 RECOMMENDED BUDGET
The budget applies one-time ARPA funds totaling $18.2 million to public safety salaries per previous City Council direction and reflects the No-New-Revenue Rate of 41.76 cents per $100 of assessed property valuation. Residential property value increases are capped at 10% for tax calculations. Homeowners are eligible for the 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 3.5% salary increase, training and equipment. This balanced budget continues to follow budget practices that allow Plano to hold a AAA bond rating. 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. Plano used Federal CARES and ARPA funds to weather the pandemic-caused, economic roller coaster without impacting service levels or the tax rate.
The Fiscal Year 2022-2023 City Manager’s Recommended Budget is the financial roadmap for the City of Plano over the coming year. It reflects our community’s values and balances the needs of our community with available resources. Your local government is committed to Sustainable Excellence. The budget totals $677 million and 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.
FINANCIAL POLICIES
YOUR LOCAL GOVERNMENT IS COMMITTED TO SUSTAINABLE EXCELLENCE.
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. However, there are resources requested to allow existing programs to meet the service demands of the community. These include resources focused on mental health and homeless assistance, infrastructure, and public safety and security. continue to maintain City assets at a high level and be proactive in providing needed repairs. The Proposed Community Invest- ment Program (CIP) includes $330 million worth of projects during FY 2022-23. 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
PROPERTY TAX/ AFFORDABILITY
QUALITY INFRASTRUCTURE
SERVICE DEMANDS/ PROGRAMS
PEOPLE
For additional information regarding the Fiscal Year 2022-2023 Recommended Budget and Community Investment Program, visit Plano.gov/RecommendedBudget . If you have questions or comments, email us at AskPlano@Plano.gov .
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