The City of Sherman's fiscal year begins on October 1 and ends on September 30. The City Council controls the finances of the city through the annual budget. Developed through a rigorous process and adopted via an ordinance, the budget provides appropriations which are the permission to spend public funds.
Notice of Public Hearing and Vote on Fiscal Year 2018-2019 Budget
The City of Sherman, Texas will hold a public hearing on the adoption of a budget for the Fiscal Year ending September 30, 2019. This budget will raise more total property taxes than last year’s budget by $988,000 and 8% and, of that amount, $243,000 is tax revenue to be raised from new property added to the roll this year.
After the hearing, the City Council will vote on the adoption of the budget.
The public hearing and vote will be held on Monday, August 20, 2018 at 5:00 p.m. at Sherman City Hall, 220 West Mulberry Street, Sherman, Texas 75090.
Members of the public are encouraged to attend the hearing and express their views.
The City Council adopted the on August 21, 2017. The budget of $94.6 million in appropriations includes funding for additional ball fields at Pecan Grove Park, extension of Travis Street West, two new positions in the street department and equipment to allow the City to perform work in-house that was previously done by a contractor, and two new positions in Equipment Services to staff another location for maintenance at the Solid Waste and Street Department facility. Public Safety compensation was increased to help the City be more competitive with surrounding communities. A property tax increase from $.3943 to $.4273 is included to fund debt service on certificates of obligation issued in FY 2017. A 3% increase in Utility rates is included to help compensate for lagging consumption and decreased industrial usage.