The Aledo City Council unanimously approved the 2019-20 fiscal year budget and tax rate Thursday night.
The budget totals $8,033,091 in revenue and $7,933,086 in expenditures and is broken down by $3,247,200 in general fund revenue and $3,247,200 in general fund expenditures; $3,387,370 in water and sewer revenue and $3,387,370 in water and sewer expenditures; $988,121 in debt fund revenue and $988,121 in debt fund expenditures; $410,400 in economic development fund revenue and $310,395 in EDC fund expenditures.
The council also approved a tax rate of $0.3545 per $100 valuation, which is based on the 2019 certified appraised values of $448,292,750 as provided by the Parker County Appraisal District. The rate is less than last year’s rate of $0.3778, but is a 7.9 percent revenue increase, which will generate about $238,385 in additional revenue for the city.
The council held its last public hearing before the adoption to which no one from the public spoke at.
For more information about the budget and tax rate visit aledo-texas.com.