The Terrell City Council is looking to adopt a $56.9 million spending plan for fiscal year 2019.
The Terrell City Council is scheduled to adopt the budget during its Special City Council meeting on Thursday, Sept. 14.
The budget takes effect on Oct. 1 and it ends on Sept. 30, 2020.
The budget includes $29.4 million in revenue and $29.0 million in expenditures for the general fund.
The utility fund has $15.8 million in revenue and $15.6 in expenditures.
The utility capital reserve fund has $1.5 million in revenue and $1.7 million in expenditures.
The storm water fund has $1.0 million in revenue and $1.0 million in expenditures.
The equipment replacement fund has $1.8 million in revenue and $1.7 million in expenditures.
The airport fund has $306,318 in revenue and $305,085 in expenditures.
The airport capital fund has $306,318 in revenue and $306,085 in expenditures.
The impact fee fund has $142,245 in revenue and $110,000 expenditures.
The capital improvement fund has $2,553,886 and has $1,780,000 in expenditures.
The public private partnership fund has $5,514,688 in revenue and $5,413,102 in expenditures.
The market center public improvement district fund has $72,300 in revenue and $78,200 in expenditures.
The Cross Roads Public Improvement District Fund has $44,040 in revenue and $78,200 in expenditures.
The information/technology fund has $927,311 in revenue and has $927,311 in expenditures.
The I&S No. 1 Debt Service Fund has $3,007,000 in revenue and $3,007,000 in expenditures.
The I&S No. 2 Debt Service Fund has $330,880 in revenue and $330,880 in expenditures.
The City of Terrell is also proposing a tax rate of 0.7642 per $100 valuation for 2019-20. This budget will raise more revenue from property taxes than last year's budget by an amount of $1,193,659, which is 13.5 percent increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $460,967. The Terrell City Council is scheduled to adopt the tax rate during Regular City Council meeting on Tuesday, Sept. 17.