Dripping Springs City Council adopts budget, sets tax rate

DRIPPING SPRINGS — After a series of workshops, the Dripping Springs City Council approved the budget for the 2023-24 fiscal year at a special meeting on Monday, Sept. 25.

The consolidated general fund — which includes the city, parks, Founders Day and eclipse funds — has a total of $15,592,345.84 in revenue and $15,002,336.50 in expenses.

Other components of the budget include the Dripping Springs Farmers Market fund that has $129,217.70 in revenue and $117,718.98 in expenses; the Dripping Springs Ranch Park Operating Fund that has $1,351,753.22 in revenue and $1,331,363.82 in expenses; and the consolidated utility fund that has $25,433,791.50 in revenue and $24,233,021.74 in expenses.

There were some amendments made to the budget Monday night.

In the Hotel Occupancy Tax Fund, the transfer to the Dripping Springs Visitors Bureau (DSVB) was reduced from $322,455.73 to $233,072.73. The following changes were also made under DSVB, making the expenditures come out to a total of $359,572.73:

• Reducing the advertising from $96,936 to $20,053

• Reducing software from $27,760 to $25,260

• Reducing training and education from $13,000 to $3,000

The council also set the ad valorem tax rate at $0.1718 per $100 valuation, compared to the previous year's rate set at $0.1778. According to the approved ordinance, the tax rate will raise more taxes for maintenance and operation than last year’s rate.

The new fiscal year goes into effect on Oct. 1. To read the full budget for the 2023-24 fiscal year, visit www.cityofdrippingsprings.com/city-treasurer/pages/budget-tax-rate.