Finance

Finance

Finance Department

100 S. Davis Street
PO Box 120
Belton, TX 76513
254-933-5800

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Finance
The Finance Department administers the financial affairs of the City and is responsible for the collection, investment, disbursement, and documentation of all City funds.
It prepares and publishes the City’s annual budget and annual financial report (audit).
The Finance Department encompasses: b
udget development and compliance, accounting and financial reporting, accounts payable and receivable, utility billing and collection, and r
isk management services.
It is committed to transparency and has been recognized by the Texas State Comptroller's office for transparency stars in traditional finances, public pensions, and debt obligations.  

Current Budget 
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The Belton City Council adopted the Fiscal Year 2022 budget on September 14, 2021. 
The adopted budget totals $34 million and the property tax rate remains the same at $0.63.  The annual strategic plan and capital improvement plans were also included in the budget. 
The FY 2022 Budget highlights include:
  • Total resources of $36,383,280 and expenditures of $34,180,640, including transfers and planned use of fund balance.
  • Total revenues and expenditures for the General Fund are $17,420,200. 
  • Debt service revenues are estimated to be $1,114,330 and expenditures are $1,180,870.
  • Water and Sewer fund revenues and expenditures are estimated to be $10,614,980.
  • The revenue for the Drainage Fund is generated by the City’s drainage fee. The adopted drainage fee remains unchanged at $5 per month for single-family dwellings. However, drainage fee revenue in FY 2022 increases by six percent to $580,400 as the customer count grows.
  • Budgeted expenses for FY 2022 total $573,180, including appropriations for four maintenance workers, public education efforts, and debt payments.
  • For FY 2022, hotel occupancy tax revenue is projected to remain flat. Expenditures in FY 2022 increase to $180,110.
  • TIRZ Fund revenue continues to grow rapidly as captured property values increase within the Zone. Total revenues are projected to increase by eight percent from $2,319,650 to $2,538,930. At $2,210,240, expenditures grow to improve Heritage Park. 
  • Information technology fund revenues total $901,240, while expenditures equal $846,190 to acquire several computers for police vehicles.
  • The Building Maintenance Fund is another internal service fund that will be used to account for all costs of providing building maintenance throughout the organization.  Charges to other divisions total $458,230. Expenditures total $419,610.
  • Economic Development fund revenues increase by six percent to $2,455,330. Expenditures of $685,260 include funding for a downtown marketing plan and the preliminary design for the extension of Capitol Way.
Conservative management has placed the City of Belton in sound financial position. The General Fund and the Water & Sewer Fund have healthy reserves. A growing property tax base provides sufficient resources to cover services, and sales tax revenue continues to increase.
On the expenditure side, the allotment for street maintenance exceeds that which was envisioned in the Strategic Plan. There is also significant investment planned in infrastructure projects through Belton’s CIP, as well as in the most important asset, our municipal employees. 
The City of Belton adopted a tax rate that will raise more for maintenance and operations than last year's tax rate.  The tax rate will effectively be raised by 9.69 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $48.30.