Budget

City Finances


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.

2020-2021 Draft Budget

The proposed 2020-2021 Draft Budget of $97.0 million includes funding for one-time, across-the-board compensation, a 4.5% increase for police officers, planning for a new police headquarters, finishing projects funded with debt in prior years, a Utility Master Plan, three new utility positions, $3.1 million in fleet and equipment, $18.9 million in utility projects, and $8.2 million in street projects.  This budget is about $2.2 million more than the original FY 2020 budget due to an increase in capital expenses and operations.  Fund balance in the General, Solid Waste and Utility Funds are at targeted levels.
budget


​2019-2020 Budget

The City Council adopted the 2019-2020 Budget at the August 19, 2019 City Council meeting.  The budget of $94.8 million includes funding for growth through appropriations for 5 additional positions, $2.9 million in fleet and equipment, $16 million in utility projects, and $14.2 million in street projects.  A decrease in residential rates and an increase in commercial solid waste charges is budgeted in the Solid Waste Fund.  The property tax rate increased to fully fund debt service using the tax rate and to fund additional public safety personnel.  This budget is about $4.6 million less than the original FY 2019 budget due to a decrease in capital expenses.  Fund balance in the General Fund is maintained at the targeted level.  The Solid Waste and Utility Funds are below the targeted level. 


 

Prior Annual Budgets