It prepares and publishes the City’s annual budget and annual financial report (audit).
The Finance Department encompasses: budget development and compliance, accounting and financial reporting, accounts payable and receivable, utility billing and collection, and risk management services.
It is committed to transparency and has been recognized by the Texas State Comptroller's office for transparency stars in traditional finances, public pensions, and debt obligations.
Fiscal Year 2023 Budget
The Belton City Council adopted the Fiscal Year 2023 budget on September 12, 2022.
The adopted budget totals $43 million and the property tax rate was reduced to $0.5850. The annual strategic plan and capital improvement plans were also included in the budget.
The FY 2023 Budget highlights include:
- Total resources of $43,046,420 and expenditures of $40,867,350, including transfers and planned use of fund balance.
- In the General Fund the total revenues are $21,287,420 and total expenditures are $20,784,020.
- Debt service revenues are estimated to be $1,210,150 and expenditures are $1,196,380.
- Water and Sewer fund revenues and expenditures are estimated to be $12,137,280.
- The revenue for the Drainage Fund is generated by the City’s drainage fee. The adopted drainage fee remains unchanged at $5 per month for single-family dwellings. However, drainage fee revenue in FY 2023 increases by $1,700 to $582,100 as the customer count grows.
- For FY 2023, hotel occupancy tax revenue is projected to remain flat. Expenditures in FY 2023 increase to $168,180.
- TIRZ Fund revenue continues to grow rapidly as captured property values increase within the Zone. Total revenues are projected to increase by eleven percent from $2,538,930 to $2,828,190. At $2,671,210, expenditures grow to fund future capital projects.
- Information technology fund revenues total $1,103,840, while expenditures equal $966,060 to acquire several computers for police vehicles.
- The Building Maintenance Fund is another internal service fund that will be used to account for all costs of providing building maintenance throughout the organization. Charges to other divisions total $494,590. Expenditures total $422,020.
- Economic Development fund revenues increase by ten percent to $3,114,250. Expenditures of $1,940,100 include funding to implement the Imagine Belton downtown marketing plan and to reconstruct streets to promote business development.
On the expenditure side, the allotment for street maintenance exceeds that which was envisioned in the Strategic Plan. There is also significant investment planned in infrastructure projects through Belton’s CIP, as well as in the most important asset, our municipal employees.
The City of Belton adopted a tax rate that will raise more for maintenance and operations than last year's tax rate. The tax rate will effectively be raised by 4.30 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $21.00.