Proposed Fiscal Year 2019 Operating Budget

Mayor Skip Blancett has filed a proposed Fiscal Year 2019 Operating Budget for the Village of Salado. The proposed spending plan totals $1,128,667 - up $1,348 or less than 1% from the Village's current budget. The proposed budget includes funding for a 2.5% across the board pay hike for all employees, with the exception of the Village Administrator who will not be taking a pay increase. In addition, the budget includes funding for low water crossing gates, police body cameras, street repairs, right-of-way tree maintenance, as well as funding to develop a Village-wide street improvement plan and to initiate a vehicle replacement program. To help fund Village operations, a Maintenance & Operation Property Tax Rate of $0.2091 per $100 dollars property valuation is proposed. This is the same amount as the current Maintenance & Operation Tax Rate.

To help fund the Village's debt service payments, a Debt Service Property Tax Rate of $0.4185 per $100 property valuation is proposed which represents an increase from the current Debt Service Tax Rate of $0.3271 per $100 property valuation. The increase in the Debt Service Property Tax Rate is needed to help fund the additional bonds issued by the Village earlier this year to help fund construction of the Village's new wastewater system. A public hearing on the proposed Fiscal Year 2019 Operating Budget will be held on Thursday, September 6, 2018. Public hearings on the proposed tax rate will be held on Thursday, September 6, 2018 and Thursday, September 13, 2018.

All of the referenced public hearings will begin at 6:30 p.m. and will take place at the Salado Municipal Building located at 301 N. Stagecoach Road in Salado. To view the proposed Fiscal Year 2019 Operating Budget and the public notices relating to the proposed tax rate and required public hearings, click on the link below.