The Irving City Council is scheduled to adopt the proposed FY 2014-15 budget during the Sept. 18 City Council Meeting, which begins at 7 p.m. at City Hall, 825 W. Irving Blvd.
The city is poised for tremendous growth in the next few years. New residential and commercial developments will fuel employment, shopping and recreational opportunities, while luring new residents. With growth comes increased demand for city services. This budget addresses that demand by funding additional infrastructure repair and replacement and increasing staffing in key areas while leaving property taxes at their current rate. The proposed budget focuses on maintaining and improving current infrastructure, facilities, services and programs.
Operationally, when addressing water, sewer and sanitation services, additional growth in the city, coupled with increasing pass-through and operating costs, necessitate revenue increases to maintain financial stability and address the operating and capital needs of our municipal utility services.
On the finance side, Standard and Poor’s and Moody’s Investors Services each affirmed Irving’s AAA bond rating, which saves the city more than $1 million in interest expense annually.
The rating agencies attributed the top rating to Irving’s large corporate tax base, strong financial management policies, sound investment and reserve policies, and strong general fund reserves.
The total proposed FY 2014-15 Capital Improvement Program is $60 million. The State of Texas’ reconstruction and expansion of State Highways 183 and 114 and Loop 12 will require significant time and resources from the city to ensure that its interests are protected and the project enhances the city’s transportation infrastructure.
The FY 2014-15 Capital Improvement Program has allocated $16 million for projects related to State Highway 183. Other capital projects include expanding Campión Trail, building public infrastructure for the convention center hotel, acquiring land for and designing Fire Station No. 12, improving city parks and facilities, and upgrading other significant city infrastructure.
For more information, visit cityofirving.org/budget.