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Posted on: August 17, 2021

FY 2021-2022 Adopted Operating & Capital Budgets

Pages from 2022 Hewitt Adopted Budget 8 16 21 website

This budget will raise more revenue from property taxes than last year's budget by an amount of $457,669 which is an 8.1% increase from last year's budget. The property tax revenue to be raised from new property added to the tax roll this year is $78,244.

The record vote of each member of the governing body by name voting on the adoption of the budget is as follows:

1. Mayor - Steve Fortenberry -- Yes                             

2. Mayor Pro Tem - Michael Bancale -- Yes                 

3. Council Member - Dr. Erica Bruce -- Yes                  

4. Council Member - Bill Fuller -- Yes

5. Council Member - Bob Potter -- Yes

6. Council Member -- Charlie Turner -- Yes

7. Council Member - Walky Wachtendorf -- Yes

The municipal property tax rates for the preceding fiscal year, and each municipal property tax rate that has been adopted or calculated for the current fiscal year, include:

a. The Property Tax Rate for the Prior Fiscal Year: $.547838                    

b. The Property Tax Rate for the Current Year: $.540102                           

c. The Total Voter Approval Tax Rate: $.512110                                          

d. The No New Revenue Tax Rate: $.503617                                             

e. The NNR Maintenance & Operations Tax Rate: $.302900

f. The Maximum Maintenance & Operations Rate: $.347103

g. The Adopted Maintenance & Operations Rate: $.347103

h. The Adopted & Required Debt Tax Rate: $.192999

Fiscal Year 21-22 Adopted Rates:

a. Maintenance & Operations Tax Rate:                        0.347103

b. Debt Rate (Interest & Sinking Fund):                         0.192999

                                                                                       0.540102

The total amount of outstanding municipal debt obligations secured by property taxes, including principal and interest, is $53,452,298. The total amount of outstanding debt obligations considered self-supporting is $28,778,355. Self-supporting debt is currently secured by water and wastewater revenues. In the event that such amounts are insufficient to pay debt service, the City will be required to assess an ad valorem tax to pay such obligations.

Fiscal Year 21-22 Principal & Interest Requirements for Debt Service are:

a. Property Tax Supported Debt: $2,008,671

b. Self-Supporting Debt: $1,969,577

FY 2021-2022 Adopted Operating & Capital Budgets
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