Proposed Richardson City Budget Holds Steady

Budget
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By NewsRadio 1080 KRLD

The Richardson City Manager has released his proposed city budget for the 2020-2021 fiscal year. It is within 1% of the budget for the current fiscal year. The proposed budget for next year is $287,369,626, which is down approximately $1.5 million from this year.

“The COVID-19 pandemic has created a great deal of economic uncertainty, and we are still maneuvering through many of its impacts," said Richardson City Manager Dan Johnson. "Because of that, we are shifting our course for the foreseeable future towards dedicating all available resources for our primary services, with an emphasis on road and other repairs, police, fire, trash and other basic services."

Sales tax revenues are projected to be down by 16.9 percent from the current year. Hotel and motel tax revenues are projected to be down by 59.8 percent.

The proposed tax rate for next year is $0.62516 per $100 of assessed valuation, which would be slightly below the “no new revenue” rate.

The Richardson City Council is scheduled to get a briefing on the budget proposal at a meeting this evening. Public hearings on the budget are scheduled for August 17th and 24th before the Council votes on August 24th.