Los Fresnos City Council Adopts Budget for FY 2018-19

by Tony Vindell/LFN

The $4.3 million was approved during the council’s last meeting in accordance with a government regulation that stipulates it must be passed before the end of September as each fiscal year runs from Oct. 1 through Sept. 30.

City Manager Mark Milum said the city has a good balanced budget.

It contains a utility fund of $2.7 million, a debt fund of nearly $607,000, a tax reinvestment fund of more than $480.000.

The latest fund is for economic development upgrade projects for such things as the betterment of the city’s infrastructure.

Other provisions of the budget include a $58,000 fund for senior citizen services and a $351,250 fund for the Community Development Corp.

At the meeting the council approved the second and final reading on:

– Ordinance 494 adopting the budget for fiscal year 2018/2019, and,

– Ordinance 493 approving the 2018 tax roll and levying municipal ad valorem taxes.

Taxpayers will get a discount if they made payment before Feb. 1, 2019. After that, their properties will be placed on a delinquent a roll and penalties will be assessed.

The discounts are as follows:

Three percent if payments are received in the month of October; 2 percent if payments area received in the month of November and 1 percent if payments are received during the month of December.

A gross amount without penalty is due in the month of January.