Southlake City Council held the first reading of its proposed fiscal year 2026-27 budget and tax rate and at its Sept. 1 meeting.
The details: The proposed budget projects $159 million in total revenue, an increase over the $154.4 projected in the adopted fiscal year 2025-26 budget. Total proposed expenditures have decreased to $133.7 million from $137.7 million in FY 2025-26.
The proposed budget has increased expected revenues for the general fund, raising it to $61.3 million over the previous fiscal year’s projected general fund revenues of $60 million. General fund projected expenditures have also increased in the proposed FY 2026-27 budget, up to $57.6 million over the previous fiscal year’s $56.4 million general fund expenditures.
The budget also includes a 3% cost-of-living pay adjustment for employees, revenues exceeding expenses across all funds, no service level reductions and a plan for existing debt to be paid off within 10 years, according to data presented during the meeting.
What's next: Council will vote on the proposed budget during its Sept. 15 meeting.