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.
The City Council adopted the 2021-2022 Budgetat the August 16, 2021 City Council meeting. The budget of $125.1 million includes funding for a 3% across-the-board increase for employees, a new police headquarters, $3.5 million in fleet and equipment, $17.5 million in utility projects, $11.9 million in street projects including major rebuild projects of existing streets, and $1.5 million for park and other projects. This budget is about $28.1 million more than the original FY 2021 budget due to an increase in capital expenses and General Fund operations. Fund balance in the General, Utility and Solid Waste Funds are at targeted levels.