,
October 14, 2010
The Shoreacres' city council has adopted a budget for the City's fiscal
year that began on October 1st. The budget was formally adopted by
Ordinance 2010-80 on Monday, September 27.
The operating budget of the city is prepared in three parts.
The General Fund portion covers all routine city operations such as
police, fire, parks, public works, streets, and storm drainage. the
General Fund portion of the budget totals $1,809,805. The largest
revenue source for the General Fund is from property taxes ($756,011).
Additionally, the FY-2010/2011 budget anticipates drawing as much as
$372,231 from the city's reserves to cover budgeted expenditures.
The Utility Fund portion covers water, sewer, and trash collection. The
Utility Fund portion of the budget totals $652,857. The largest revenue
source for the Utility Fund is from water, sewer and trash collection
service fees ($306,000). Additionally, the FY-2010/2011 budget
anticipates drawing as much as $325,302 from the city's reserves to
cover budgeted expenditures.
This year there is a third fund created exclusively for the
administration of
the Texas Community Development Block Grants (TxCDBG) received by the
city for Hurricane Ike recovery. The TxCDBG Fund portion of the budget
totals $5,669,820. The largest revenue source for the TxCDBG Fund is
from the grant ($5,566,470). Additionally, the General Fund contributes
$78,274 and the Utility Fund contributes $24,576.
The combined budget
for FY-2010/2011
totals $8,132,482.