City elects unopposed council members, approves beginnings of TIRZ
At its Sept. 3 meeting, Buda City Council approved a third amendment for the fiscal year 2024, with a 3% increase in revenue and a 1% decrease in expenditures.
The fiscal year 2024 operating budget was originally adopted by council on Sept. 19, 2023. According to agenda documents, there have been changes, which requires a third budget amendment.
The presentation by finance director Bianca Redmon noted that the city is projected to be under budget in sales tax revenue. Despite the difference being 3%, or $451,075, Redmon stated that this is still important as this is the city’s major revenue source.
Another aspect which is projected to decrease in revenue is the hotel tax, due to less travel, stated Redmon. It will lower 19%, or $258,392, for a total of $1,073,608.
The following items changed throughout the fiscal year in regards to revenue: General fund
• Increased 7%, or $1,166,510, for a total of $18,843,421 in revenue Interest and sinking • Decreased 1%, or $65,081, for a total
if $7,476,045, due to property tax adjustments Special revenue funds • Increased 7%, or $287,161, for a total of $4,290,915 Utility funds
• Increased 1%, or $120,239, for a total of $17,982,430 This created a grand total increase of 3%, or $1,508,828, in revenue for fiscal year 2024 to $48,592,811.
There was a grand total of $51,086,322 for expenditures, which is a 1% decrease or $385,548. The changes that occurred are as follows: General fund
• Decreased 0.48%, or $96,709, for a total
of $20,115,771 in expenditures
Interest and sinking • Increased 10%, or $1,119,985, in expenditures, due to a bond defeasance of the 2016 GO bonds for a total of $7,579,279 Special revenue funds • Increased 4%, or $218,135, for a total of $5,894,679 in expenditures The item was voted on unanimously to approve on first reading.
Other items
For the upcoming November election, two candidates were running unopposed for At -Large Position 3 and Single Member District A: incumbent Lavonia Horne-Williams and Greg Bowles, respectively.
Because of this, council voted 7-0 to both cancel the election for these positions and deem the candidates as elected.
Bowles will replace council member Paul Daugereau, who has served on Buda City Council for seven years and did not run for reelection. The newly elected council member has lived in Buda for nearly six years and has a background in business and technology. He currently serves in senior management for University Federal Credit Union.
Council also canceled a previously called special election to make amendments to the Home Rule Charter. The proposed amendments will be scheduled for a future election.
Council members also approved a resolution authorizing preparation of a preliminary reinvestment zone financing plan, which will create a Tax Reinvestment Zone, along with a public hearing on Sept. 17, for the Persimmon Project in a 7-0 vote.
Buda City Council will meet next on Sept. 17.
