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FISCAL RESPONSIBILITY
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When it comes to the municipal finances for the City of The Colony,
I have always believed in being as up-front and transparent as possible, and
that will not change. Municipal finances are extremely unique, with multiple sources of
revenues, with multiple cost centers in the budget and at times with some
very specific and legally binding ways that funds can be used. A review of the annual budget takes months
to fully digest, and leads to many questions to City
staff. Even though the budget starts
in October, and is finalized and voted on by Council
in September (which also sets the Tax Rate), the work begins in late Spring. By law, municipal budgets MUST be balanced … just like the State
budget. Unlike the Federal government,
the City of The Colony cannot spend more than it receives in revenues
(through property taxes, sales taxes, utility charges, various fees, etc.). Balancing the needs of all the residents
and the requirements of the multiple City departments with the unknown growth
(or reduction) in revenues is a daunting task, but the City’s accounting
department and the multiple department heads have done a tremendous job of their
forecasting … and, I have no doubt that will continue. As noted in my page on Property Tax,
I will gladly sit with any resident during budget time to review the City budget, and take suggestions on improvements. In addition, if there are any items that
come before Council that you wish to review or discuss, and that you’d like
to provide direct input on, I promise to make myself available to have those
discussions on even a single agenda item! It is understood that as we grow, our needs and our costs
increase. And, as we’ve seen happen –
and hope to see continue – our revenues also increase. It is my promise to all residents, businesses,
and taxpayers to be a conservative and property steward, and to hold all to
the highest level of fiscal responsibility. |