OFFICE OF THE CITY MANAGER
July 8, 2021
Honorable Mayor and Members of the DeSoto City Council: In accordance with Article VII, § 2 of the City Charter, I dutifully submit the proposed budget for Fiscal Year (FY) 2022. Within this proposed budget document are financial policies for the forthcoming FY with clearly defined explanations of any changes from FY 2021. Equally important as the aforesaid statement are revenue estimates derived from taxes and various other sources, which are inclusive of the current tax rate structure and valuation of properties for FY 2022. Additionally, an itemization of proposed expenses by all municipal agencies will be juxtaposed to previous FY actual expenses and current year-to-date (YTD) expenses. These various capital improvement projects are categorized and presented in a five (5) year format based upon its defined level of importance determined by the City Council. On Friday March 12, 2021, City Manager’s office and Finance Administration began the process of strategically developing a budget for FY 2022. During this meeting, staff discussed ideas regarding moving forward to develop the Proposed FY 2022 and Planning FY 2023 budgets. Staff concluded the strategy sessions and then held a series of meetings with Departments to discuss their budgets. At the conclusion of these meetings, a proposed budget was developed. ~Property Tax Rate~ The FY 2022 budget continues to reflect our conservative philosophy toward managing all municipal operations and monetary affairs. Since the implementation of this practice in late 2011, the City of DeSoto has been duly recognized by state and national organizations for its financial stewardship. In order to attain these prestigious accolades, numerous policies and procedures were implemented by a defined date for review. Fortunately, the City of DeSoto has been proactive in various ways as it relates to administering fiscal standards and measures before making application for these certifications. The City of DeSoto will continue its ongoing quest toward financial excellence in FY 2022. An example of said performance has been exhibited over the past ten (10) FYs as residents and business owners alike have realized their annual property tax rate has not increased. In FY 2022, the City of Desoto is proposing a tax rate of (.701554) which is the same rate as FY 2021.
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