BSM-Adopted-Budget-2015.Pdf
CITY OF CORPUS CHRISTI, TEXAS ANNUAL OPERATING BUDGET FOR FISCAL YEAR 2014-2015 This budget will raise more total property taxes than last year’s budget by $8,496,725 (General Fund $4,856,327, Debt Service Fund $3,640,398), or 10.08%, and of that amount an estimated $1,741,141 is tax revenue to be raised from new property added to the tax roll this year. City Council Record Vote The members of the governing body voted on the adoption of the budget as follows: FOR: 7 AGAINST: 0 PRESENT and not voting: N/A ABSENT: 2 Tax Rate Adopted FY 2014-15 Adopted FY 2013-14 Property Tax Rate 0.585264 0.585264 Effective Rate 0.543343 0.529025 Effective M&O Tax Rate 0.349273 0.348895 Rollback Tax Rate 0.585672 0.585264 Debt Rate 0.208458 0.208458 The Adopted Tax Rate for FY 2014-15 remains unchanged from FY 2013-14. The total amount of municipal debt obligation secured by property taxes for the City of Corpus Christi is $347,245,518. The Government Finance Officers Association of the United States and Canada (GFOA) presented an award of Distinguished Budget Presentation to City of Corpus Christi for its annual budget for the fiscal year beginning August 1, 2013. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan and as a communication device. The award is valid for a period of one year only.
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