Colleyville City Council approved a 4.5% budget increase for the 2026-27 fiscal year, along with a higher tax rate at the Sept. 15 meeting.
The details: Increases in the budget come primarily from higher budgets for capital projects at $27.88 million and debt service at $1.85 million. The adopted FY 2026-27 budget also includes a pool of funds to cover merit-based increases for city staff, Assistant City Manager Adrienne Lothery said.
The FY 2026-27 general fund budget has revenues of nearly $31.53 million compared to $30.79 million in expenditures. The general fund expenditures are 1.5% lower than the $31.27 million for FY 2025-26.
The overall budget has $98.33 million in expenditures compared to $72.35 million in revenues, according to city documents.
Diving deeper: For the third straight year, the city will be raising the tax rate. The FY 2026-27 tax rate is $0.352480 per $100 valuation, an increase compared to $0.311931 per $100 valuation for FY 2025-26.
What's next: FY 2026-27 begins Oct. 1 and runs through Sept. 30, 2027.