Community Impact reports that according to City of Conroe Director of Finance and Assistant City Administrator Collin Boothe, they are no longer forecasting a shortfall in the budget for fiscal year 2023-24.
At the city council’s August 9th workshop session, he passed along an update of the budget. At their August 10th regular meeting, the council gave approval to a proposed tax rate of $0.4272 per $100 valuation,
For Fiscal Year 2023-24 there is a new proposal for $124 million in general fund revenues and $122 million in expenditures. According to Boothe, updated property tax values are one of the changes to the budget proposal. A certified assessed valuation now shows an increase from the number in the preliminary budget.
In accordance with Boothe’s presentation, the preliminary value which the first proposed budget was based on was $13.86 billion, and the certified assessed valuation has come in at $14.35 billion. He said $600 million of that certified assessed valuation is comprised of new property.
According to previous reporting, the city had been forecasting $122 million in revenues and $123 million for expenditures, which resulted in a $1.4 million shortfall.
