Storm Water Drainage Management Program The Storm Water Drainage Management Program receives funding on a monthly basis from residential ($6) and commercial users ($24) of the storm water system. This fee structure will generate an estimated $1,600,000 in revenue for FY 2024. These funds will be used to support expenditures of $1,66 8 , 0 9 0 in the areas of personnel, supplies, professional services, debt service, capital projects, and equipment Sanitation The City is currently in the final year of a 5-year sanitation contract with Republic Services. FY 2024 will mark the start of a new contract, and costs are projected to increase from FY 2023. In FY 2023, the City of DeSoto conducted a review of services during a solicitation for bids that will take effect in June 2024. These options are being reviewed by staff and the City Council with the expectation that current service levels will remain the same with some enhancements such as hauler-provided refuse and recycling carts. Contract amounts are scheduled to increase in FY 2024 as a result of the bid process, which will require increases in sanitation rates. The Sanitation monthly rate will i ncrease by $3.45 for FY 2024 based on the final contract approved by the City Council. Each year staff along with consultants review and evaluate our rates to ensure that fees cover the costs associated with providing services.
~Tax Supported Fund~ Hotel Occupancy Tax
Allocations in this fund in FY 2024 include: Repair & Maintenance ($20,000), Nance Farm Maintenance ($ 175 ,000), Professional Fees ($46,000), Advertising ($20,000), Arts Grants ($160,000), Hotel Events ($150,000), Tourism and Branding/Marketing ($10,000), and Membership & Subscriptions ($16,700), Training & Travel Expenses (10,000). ~Capital Improvement Program~ Attached within this budget document is the 2024-2028 CIP for all City Departments and Divisions. The Capital Improvement Plan addresses key infrastructure initiatives for streets, parks, the water system, and facility improvements. ~Interest and Sinking Fund~ This particular fund is utilized to address the principal and interest payments on debt acquired by the City. In FY 2024 the Interest and Sinking fund tax rate was set at $. 181607 . The FY 2024 proposed I&S tax rate is $.1 81607 per $100 of property valuation.
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