Budget - FY 2024-2025FISCAL YEAR
2024 - 2025
OCTOBER 1, 2024 -
SEPTEMBER 30, 2025
ADOPTED BUDGET
Town of Prosper
Fiscal Year 2024-2025
Budget Cover Page
This budget will raise more revenue from property taxes than last
year's budget by an amount of $5,926,328, which is a 14.33
percent increase from last year's budget. The property tax revenue
to be raised from new property added to the tax roll this year is
$4,395,771.
The members of the governing body voted on the budget as follows:
FOR: Mayor David F. Bristol
Mayor Pro-Tem Marcus E. Ray
Deputy Mayor Pro-Tem Amy Bartley
Craig Andres
Chris Kern
Jeff Hodges
Cameron Reeves
AGAINST:
PRESENT and not voting:
ABSENT:
Property Tax Rate Comparison
2024-2025 2023-2024
Property Tax Rate: $0.505000/100 $0.510000/100
No-New-Revenue Tax Rate: $0.466941/100 $0.448160/100
No-New-Revenue Maintenance & Operations Tax Rate: $0.313631/100 $0.304741/100
Voter-Approval Tax Rate: $0.522075/100 $0.510000/100
Debt Rate: $0.180392/100 $0.177258/100
Total debt obligation for Town of Prosper secured by property taxes:
$214,415,000.
HB 1495: Lobby Reporting/Budgeting
The 86th Legislature passed HB 1495 to increase the transparency of local government
lobbying. In accordance with Section 104.0045 of the Texas Local Government Code as
amended by HB 1495 – Itemization of Certain Expenditures Required in Certain Political
Subdivision Budgets - expense line items for public notices and lobbying efforts are
provided below:
Adopted
FY 2023-2024
Amended
FY 2023-2024
Estimated
FY 2023-2024
Adopted
FY 2024-2025
Lobbying Services $ 60,000 $ 60,000 $ 48,000 $ 48,000
Legal Public Notices $ 26,050 $ 26,050 $ 18,500 $ 18,500
FISCAL YEAR 2024 – 2025
ADOPTED VERSION
October 1, 2024 – September 30, 2025
Prepared By:
Chris Landrum, Finance Director
Whitney Rehm, Budget Officer & Grants Administrator
Submitted to the Town Council on September 10, 2024
David F. Bristol, Mayor
Marcus E. Ray, Mayor Pro-Tem
Amy Bartley, Deputy Mayor Pro-Tem
Craig Andres, Council Member
Chris Kern, Council Member
Jeff Hodges, Council Member
Cameron Reeves, Council Member
“Prosper is a place where everyone matters.”
Town Council
Council Member Place 6
Cameron Reeves
Term: May 2027
Council Member Place 5
Jeff Hodges
Term: May 2026
Council Member Place 2
Craig Andres
Term: May 2027
Council Member Place 4
Chris Kern
Term: May 2025
Council Member Place 3
Deputy Mayor Pro-Tem
Amy Bartley
Term: May 2026
Council Member Place 1
Mayor Pro-Tem
Marcus E. Ray
Term: May 2025
Mayor
David F. Bristol
Term: May 2025
The Mayor and each of the six (6) Council
Member places are elected at large
according to the Town Charter.
TOWN
COUNCIL
INTRODUCTION
Letter from the Town Manager 3
Entity Profile 16
The Budget Process 18
Summary of Financial Policies 19
Budget Calendar 22
Basis of Accounting/Budgeting 23
Fund Overview 25
Strategic Visioning Process 26
Town-wide Organizational Chart 28
Authorized Positions Schedule 29
Consolidated Fund Summary 3 Years 30
Consolidated Fund Summary 31
Combined Graphs 33
Property Tax Rate Distribution 34
Major Revenue Graphs by Source 35
GENERAL FUND
Fund Description 3
Fund Balance Graph 4
Revenues by Source 5
Appropriations by Department 6
Fund Summary 7
General Fund Overview 8
UTILITY FUNDS
Fund Description 3
Revenues by Source 4
Appropriations by Category 5
Water & Wastewater Fund Net Assets Graph 6
Water & Wastewater Fund Summary 7
Water and Wastewater Fund Overview 8
Solid Waste Fund 19
Stormwater Drainage Fund 22
DEBT SERVICE FUND
Fund Description 3
Fund Summary 4
Projection of Debt Margin 5
Debt Issuance Details 6
Outstanding Principal on Debt 11
Principal and Interest Schedule - Tax Supported Debt 12
Principal and Interest Schedule - Water/Sewer/Drainage 13
OTHER FUNDS
Revenues by Source 3
TIRZ #1 Fund 4
TIRZ #2 Fund 6
Crime Control and Prevention SPD 8
Fire Control, Prevention and Emergency Medical Services SPD 10
Park Dedication/Improvement Fund 12
Impact Fee Funds 14
Hotel Occupancy Tax Fund 19
Special Revenue Fund 21
Table of Contents
Vehicle and Equipment Replacement Fund 23
Health Insurance Trust Fund 26
CAPITAL PROJECTS FUNDS
Fund Description 3
Governmental Capital Projects Fund 4
Enterprise Capital Projects Fund 6
MULTI-YEAR CAPITAL PLAN
Five-Year Capital Improvement Plan Descrtiption 3
Capital Improvement Plan Construction Schedule 4
Capital Improvement Plan Program 5
Capital Improvement Plan Summary 8
APPENDIX
Supplemental Budget Requests 3
Discretionary Budget Requests 4
Non-Discretionary Budget Requests 101
Unfunded Discretionary Budget Requests 160
Financial Policies 187
Town Staff and Consultants 216
Tax Rate Calculation Worksheet 217
Glossary 227
INTRODUCTION
September 10, 2024
To The Honorable Mayor and Town Council
Re: The FY 2024-2025 Adopted Budget
In accordance with the Town Charter and the State of Texas statutes governing home
rule municipalities, please accept this letter as my budget transmittal and executive
summary of the Adopted Annual Budget for the operating, capital and debt service funds
of the Town. The Town’s Adopted Budget is developed through an extensive process of
reviewing requests received by various Town departments and then prioritizing those
requests in a manner that utilizes resources effectively, within fiscal constraints, while
working to achieve the Town Council’s strategic vision. As prepared and submitted, the
Adopted Budget is intended to:
Serve as an operating and fiscal plan for the new fiscal year,
Provide a basis of accountability to the taxpayers for the investment of their tax
dollars,
Serve as a basis for measuring the performance for those individuals charged
with the management of the Town’s operations; and
Demonstrate compliance with financial related policies passed by the Town
Council.
The Annual operating, capital, and debt service funds budgets, combined with the multi-
year capital plan contained herein, represent the single most important management tool
of the Governing Body and the staff.
BUDGET OVERVIEW
This budget was prepared based on the Town Council Strategic Vision adopted in May
2024 of:
1.Acceleration of infrastructure.
2.Development of Downtown Prosper as a destination.
3. Ensure that the Town’s commercial corridors are ready for development.
4.Continue to provide excellent municipal services.
5.Work towards a growing and diversified tax base.
In the first four years of the originally ten-year $210 million November 2020 bond program
70% of the authorized bonds will have been issued with $62.9 million of authorized but
unissued bonds remaining. At the present issuance pace, a bond election for both
infrastructure, library and other community facilities is planned for November 2025.
Regarding Downtown Prosper as a destination, multiple businesses, including several
restaurants, have opened during the year and the Livano multi-family development is
nearing completion. The Downtown Advisory Committee has been actively programming
Town/EDC funding for improved aesthetics and walkability. Multiple festivals and events,
such as the New Resident Mixer and the Discover Downtown series including Coffee and
Chrome, Paws on Broadway, and Moonlight Movie have been added, as well Freedom
Fest, to be held on Broadway Street in Downtown Prosper.
For readying commercial corridors, the Town is progressing with the updating of its
Comprehensive Plan to guide development over the next several years. Infrastructure,
including roads, water lines, and wastewater lines to support these corridors, continue to
be a major emphasis.
Excellence in municipal services begins with public safety. Design on a fourth Fire Station
is well underway, and benchmarking of public safety staffing levels compare well with
surrounding cities. While quality of life starts with public safety, it cannot stop there, and
the current budget includes increases in Parks and Recreation to service Raymond and
Lakewood Preserve Parks currently under construction, addition of a Traffic Engineer
position as the Town approaches the population threshold for assuming more traffic
responsibilities, and a Fleet Coordinator to assist departments in managing the Town’s
growing fleet.
Regarding diversified tax base, this element of the vision is supported by the other four
and the Town is quickly transitioning from simply a bedroom community by adding a
growing commercial base that includes two pediatric hospitals, a significant and growing
retail base that includes the most prominent national chains, three car dealerships, and
one hotel currently under construction with three more planned.
Despite the Town’s current and future growth potential and general optimism, this budget
has been prepared with conservative revenue assumptions in mind and budget
challenges related to the Town’s rapid growth continue.
BUDGET IN BRIEF
Total FY 2024-2025 Adopted Budget Operating Appropriations $102,622,254 including:
$52,819,628 for General Fund operations and maintenance,
$3,346,035 for the Crime Control and Prevention Special Purpose District,
$3,544,260 for the Fire Control, and Emergency Medical Services Special Purpose
District,
$42,912,331 for the Town’s Enterprise Funds including Solid Waste, Water, and
Wastewater utilities, as well as the Stormwater Drainage Utility Fund.
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General Debt Service Appropriations for the coming fiscal year are $18,526,992.
Governmental Capital Projects added for the year total $51.4 million.
VALUE OF TAXABLE PROPERTY AND GROWTH
The growth in taxable value of real property corresponds to a significant increase in
residential growth and population over the past year. According to the most recent
population estimates published by the North Central Texas Council of Governments
(NCTCOG), the Town of Prosper’s new population as of January 1, 2024, was 42,598.
The Town has 11 active residential subdivision phases with a total of 834 lots that are
either shovel ready, under construction, or have plans under review.
The Town is experienced an overall 15.4% increase in projected assessed values for the
2024 tax roll with 2/3rds of the increase (10.5%) new construction and 1/3rd (4.9%) from
increases in existing valuations. On June 25, 2024, to help relieve the increase in
residential appraised values of property, the Council approved an increase in the
homestead exemption rate from 15% to 17.5%. The Town is also seeing an 20.2%
increase in homestead property values that qualify for the over 65 and disabled persons
exemption and freeze and is expecting this trend to continue.
PROPERTY VALUES
Certified property valuations increased by $1,286,804,916 (15.4%) for FY 2024-2025.
Property values increased from $8,335,296,679 to $9,622,101,595. These totals exclude
value of properties subject to the tax freeze. Of the increase, $870,449,826, or 10.5%,
resulted from new construction, compared with $876,474,004 last year. New value added
to the tax roll will continue to be primarily from residential growth, however, commercial
growth continues to expand at a strong rate.
PROPERTY TAX RATE
The Adopted FY 2024-2025 Budget proposes a property tax rate of $0.505 per $100 of
taxable assessed valuation. If adopted, this would be a half cent reduction in the property
tax rate. The last property tax rate reduction was in FY2020-2021 and is the lowest tax
rate since FY 2006-2007.
The total tax rate is divided between Maintenance and Operations (M & O) and the Debt
Service Fund. Of the total tax rate, the $0.324608 cents maintenance and operations levy
is split between $0.224608 for the General Fund, $0.100000 for the Capital Dedicated
Fund with a $0.180392 levy for general obligation debt service. Even with carving out 10
cents of the M & O levy for Capital Dedicated purposes, property taxes are 64% of the
adopted revenue in the General Fund. The portion of the tax rate dedicated to debt
service is approximately 36% of the overall Town tax rate well within policy guidelines of
no more than 40% specified by the debt management policy.
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SALES TAXES
The Town of Prosper levies a 1.50% tax on all taxable items sold within its borders (the
Economic Development Corporation’s 0.50% tax is in addition to the Town’s 1.00% tax).
In May 2023, the citizens renewed the Crime Control and Prevention District and the Fire
Control, Prevention, and Emergency Medical Services District through 2043 with each
collecting 0.25% of dedicated sales and use tax. Each district is reported as a special
revenue fund and sales and use tax is the only source of revenue in these funds. As sales
tax revenues have become a prominent funding source, this will help dedicate more
resources to the public safety needs of the Town. This budget reflects the seventh year
since the districts were created. Overall, the Adopted Budget includes $12,619,839 in
sales tax revenues, compared to $11,658,281 in the FY 2023-2024 revised year end
estimate. This is largely attributable to the continuing retail and commercial development
growth in Prosper. The one percent sales and use tax reported to the General Fund
comprises 25.2% of total revenue in the Adopted Budget. See the table below labeled
Commercial Taxable Property and Growth which reflects major retail developments
coming online during the next budget cycle. The adopted budget reflects a sales tax
estimate of 8.25% growth from the current year end projection.
COMMERCIAL TAXABLE PROPERTY AND GROWTH
EXPECTED FY 2023-2024
Name Square Feet
Gates Phase 3 (commercial) 152,078
H-E-B 133,373
One United Volleyball 73,645
Teel Retail/Restaurant 63,765
Costco 23,550
Home 2 Suites Inn 17,157
Other <25,000 each 52,431
EMPLOYEE PAY AND BENEFITS
Sworn Fire and Police personnel are on a step plan and civilian pay is based on a
performance merit system. The Town employees on average receive a 3% merit increase
based on their annual performance. Employees will continue to see their steps or annual
merit adjustments based on performance. The FY 2024-2025 Adopted Budget includes
salary changes according to an internal market study. This market study adjusts sworn
personnel by market and then adds a competitive percentage of 1.75%. For non-sworn
personnel adjustments include only market. The total impact included in the budget is
$810,459.
The Town has historically provided a competitive and innovative benefits package to
employees, offering a selection which best suits employees’ individual and family needs.
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Providing these options has benefitted not only recruitment efforts, but also retention of
employees. The Town’s estimated contribution for employee healthcare benefits is
$4,136,107 for fiscal year 2024-2025. The Town currently offers high deductible and PPO
medical plans.
PROGRAM AND STAFFING LEVELS
The Town of Prosper currently has 387.75 authorized full-time equivalent (FTE) staff
members allocated among the various operating departments, excluding EDC. The
adopted budget includes an increase of 23 full-time equivalent positions. Details of all
requested positions can be found in the Authorized Positions page of this document. The
adopted budget recommends the following staffing additions by department and changes
to occur between October 2024 and April 2025:
Fund Department FTE
General Town Manager 1.0
General Finance 1.0
General
Communications & Community
Engagement 0.5
General Municipal Court 1.0
General Police 4.0
Special Purpose
District Crime Control 3.0
General 9-1-1 Communications 1.0
General Fire (6.0)
Special Purpose
District Fire Control 6.0
General Fire Marshal 1.0
General Streets 2.0
General Facilities 1.0
General Parks and Recreation 2.0
General Library 0.5
General Engineering 1.0
Water/Wastewater Water 3.0
Stormwater
Drainage Utility Stormwater Drainage 1.0
Total FTE 23.0
UTILITY RATES
Water and Wastewater. During this time of rapid growth for both the Town and its
regional suppliers, the Town has committed to annual rate studies conducted by an
outside rate consultant with a great deal of familiarity with the region and is also obtaining
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frequent updates of its water and wastewater masterplan. Charges from its regional
suppliers represent approximately 50% of the operating costs of the utility fund and are
expected to rise significantly in future years due to expansion of both potable water and
wastewater treatment capabilities. The financial goal for the utility is to operate on a
breakeven basis over time while complying with all adopted financial standards,
maintaining its water and wastewater infrastructure in good condition and meeting or
exceeding required debt coverage ratios. It has been fortunate to meet these goals
without a rate increase since FY 2019. Now however, the most recent rate study
recommends, and Town staff has included a blended 10.4% increase comprised of water
(6.4%) and wastewater (16%) rate increase for the current year. Given projections of our
regional suppliers and planned debt issuance to fund the Town’s share of the Doe Branch
wastewater plant expansion future annual increases are expected the actual size of the
increases will be evaluated annually.
Solid Waste. With the transition to a new provider complete, the Solid Waste Fund is
now self-sufficient. The new contract for all commercial and residential solid waste
services is for an initial seven-year period. The new rates became effective February 1,
2024, and will be adjusted each February thereafter based on CPI, fuel, and disposal rate
adjustments. The goals for the new contract were:
• Greater contract monitoring and contract remedies to improve quality of service.
• Owning the residential collection carts improving flexibility in changing providers
and promoting the Town’s “brand”.
• Creating a self-supporting solid waste operation with all costs offset by user fees.
These goals are consistent with the Strategic Vision of “Excellence in Municipal Services”
with early feedback from citizens being overwhelmingly positive.
Stormwater Drainage. The Stormwater Drainage rates will remain the same since the
last increase implemented in the FY 2017-2018 budget. The current monthly drainage
rate for a residential tier 1 customer is $3.00 and the residential tier 2 rate is $5.15.
Commercial customer’s rates are $1.00 per 1,000 SF of impervious surface.
GENERAL FUND
The FY 2024-2025 Adopted Budget, as presented, is based on using a tax rate of 22.4608
cents per $100 of assessed value. Each additional penny of the tax rate generates
approximately $962,210 in property tax revenue.
The target reserve level (Fund Balance) is set at 21% (approximately 75 days) of total
appropriations. Target Fund Balance is based on a Town Charter requirement of 20%
and a Town Council policy of an additional 1%. Budget estimates project fund balance to
be at 21.6% at the end of FY 2024-2025.
At the end of FY 2024-2025, the projected total Fund Balance reflects a decrease of
$1,611,822 to $11,077,687. The Town continues to focus on utilizing recurring revenues
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to fund enhancements with a one-time cost, rather than funding items with a recurring cost.
This practice allows the Town to gain these dollars back in future years to be utilized in a
similar manner.
GENERAL FUND REVENUES
For FY 2024-2025, General Fund revenues are expected to total $51,207,806 which is an
increase of 7.04% over the previous year’s amended budget. This additional revenue is
from increased property and sales tax, and franchise fees. The growth of this fund is
largely the result of continuing residential and commercial development and population
growth in Prosper. It is the Town’s preference to take a conservative approach in
budgeting these major revenue sources.
Sales Taxes revenues continue to increase. Historically, the Town has conservatively
forecasted the sales tax revenues. The Adopted Budget reflects 10.7% growth from FY
2023-2024 year-end projected sales tax receipts. The General Fund is projecting sales
tax revenue of $12,903,535 for FY 2024-2025. This is the seventh year for the Special
Purpose Districts that receive sales tax that had been previously reported in the General
Fund but these two levies fund police and fire salaries that would normally be paid by the
General Fund.
License, Fees and Permits Revenues are projected at $5,990,720 for FY 2024-2025, an
increase from the previous year. The Budget still reflects steady new residential and non-
residential construction, albeit at a slower pace. It is assumed the Town will issue
approximately 800 new residential permits in the coming year.
Licenses and Franchise Fees are projected to rise with population. Municipal Court Fines
are projected to increase in FY 2024-2025.General Fund Revenues by Source:
GENERAL FUND APPROPRIATIONS
Total General Fund Appropriations for the FY 2024-2025 Adopted Budget are
$52,819,628. The category of personnel makes up much of the General Fund budget. The
adopted budget includes 19 additional staff members for the General Fund.
The major Program Enhancement and Capital Expenditures included in the adopted
Revenue Category FY 2024-2025 % of Total
Property Tax $23,332,018 45.6%
Sales Tax 12,903,535 25.2%
Franchise Fees 3,334,932 6.5%
License, Fees & Permits 5,990,720 11.7%
Other 5,646,601 11.0%
Revenue Total $51,207,806 100.0%
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appropriations and planned for FY 2024-2025 by department are as follows:
Administration:
Enhancements Amount
Comprehensive Compensation and Benefits Study
and Funding $772,858
IT Security and Other Enhancements $274,419
Police:
Enhancements Amount
Stratified Policing Accountability Model $276,049
Flock Safety Program Expansion (Grant) $367,250
Officer Safety Equipment (Grant) $79,163
Fire:
Enhancements Amount
Radio Replacement (year 1 of 4) $91,628
Online Paramedics School $41,250
Public Works:
Enhancements Amount
Street Markings and Sign Repairs $73,102
Building Repairs $50,000
Parks and Recreation:
Enhancements Amount
Increased Community Events $90,050
New Parks and Median Maintenance $362,000
A complete summary listing of the adopted enhancements with a detailed explanation
can be found in the Appendix section of this document.
DEBT SERVICE (Interest & Sinking [I&S]) FUND
With the planned August 2024 issuance, the Town of Prosper will hold just under $228.6
million in outstanding tax supported debt. $36.407 million will be issued for road, public
safety and parks projects, and $33.1 million is planned to be issued for water infrastructure
projects and is paid from water and wastewater revenues. In the past, in order to obtain
a more favorable interest rate, the debt also had a tax pledge. This year for the first
time, the Town will be issuing Revenue Bonds whose sole repayment source is water and
wastewater revenues. These bonds have a rating of AA- (stable) from Standard & Poor
and AA (stable) from Fitch Ratings. The Town’s $228.6 million of tax supported debt,
issued for roads, public safety and parks has a debt rating of Aa1 from Moody and AA+
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from S&P with new ratings in process for the additional planned debt.
Appropriations for FY 2024-2025 in the Debt Service Fund will total $18,843,555. This
represents a 19.66% increase from the prior year’s budget. This increase is a result of a
planned issuance of $36.407 million from the $210 million approved bond package which
will be 2024 General Obligation Bonds in FY 2024-2025.
WATER AND WASTEWATER FUND
The Water and Wastewater Fund’s principal source of revenues are charges to customers
for water use, wastewater treatment, and fees related to providing consumers with new
water and wastewater services. Total fund revenues for FY 2024-2025 are estimated
to increase to $43,444,427 (an increase of 18.48%) over the previous year’s amended
budget. The increase is due to an increase in the number of accounts along with customer
rate increases to keep pace with the passthrough charges from the regional water
providers and funding the Town’s share of wastewater treatment expansion. The adopted
business plan for the Water and Wastewater Utility Fund identifies the need for revenue
growth to cover existing and future operations and maintenance costs as well as debt
service and contracted water and wastewater costs with the Upper Trinity Regional Water
District and North Texas Municipal Water District.
Water & Wastewater Fund Revenues by Source:
Revenue Category FY 2025 Adopted % of Total
Water Charges $24,470,841 56.3%
Wastewater Charges 14,674,289 33.8%
License, Fees & Permits 377,705 0.9%
Penalties 186,900 0.4%
Investment Income 450,000 1.0%
Miscellaneous 3,284,690 7.6%
Revenue Total $43,444,425 100.0%
The Town of Prosper, along with other surrounding municipalities, purchases treated
surface water from the North Texas Municipal Water District (NTMWD). The adopted
budget reflects increased water consumption due to growth in customers and demand.
Rates from NTMWD will increase by 11% from $3.44 to $3.82 per 1,000 gallons of water
purchased.
The adopted budget recommends an increase of 3 additional staff members for the Water
and Wastewater Fund. The major Program Enhancement and Capital item expenses
budgeted in the Water/Wastewater Utility Fund by department include:
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Water:
Enhancements Amount
Water Meter Replacements $938,130
Currently, the Utility Fund holds just over $37.024 million in outstanding debt. The Town
recognizes that in this time of fast growth significant additional debt is required and has
developed a strong set of financial policies that it believes will serve the Town well into
the future. With the growth and maturing of the Water and Wastewater Fund, Revenue
Bond ratings were sought and obtained as a conformation of the long-term strategy.
In addition to the financial policy requirement to maintain debt service coverage ratios of
1.25 times average annual debt service, the Town’s debt covenants for Revenue debt
also specify a coverage ratio of 1.10 times maximum annual debt service and 1.2 times
next annual debt service and a debt service reserve.
STORMWATER DRAINAGE UTILITY FUND
Currently, the Stormwater Drainage Utility Fund holds $2.36 million in outstanding debt.
During FY 2017-2018 budget, Council approved a rate increase to support debt service
payments and maintain routine drainage/stormwater maintenance needs. The Town will
be evaluating a fee adjustment for the FY 2026 budget.
CAPITAL PROJECT FUNDS
The Town continues to strengthen management of its capital program. Multi-year capital
budgets are adopted in the Capital Project Funds. The Capital Improvement Sub-
Committee of the Town Council prioritizes projects for the current year and future years,
The Capital Project Funds account for financial resources to be used for the acquisition
or construction of major capital facilities. The budget for these projects is independent of
the operating budget and are typically funded with bonds, grants, fund balance, special
restricted revenue, or other sources of capital from developers or other private
investment. Appropriations are adopted on a “Project” basis and continue until the project
is completed which typically spans fiscal years. The table below summarizes the capital
projects added for FY 2024-2025.
Street Projects
First Street (Elem - DNT) 709,000
Coit Road (First - Frontier) - 4 Lanes 20,000,000
Legacy (Prairie - Fishtrap) - 4 lanes 800,000
Prosper Trail (Coit - Custer) 2 WB Lanes 500,000
Gee Road (US 380 - FM 1385) - 2 WB Lanes 1,700,000
Coleman (Prosper Trail - Talon) - 2 SB Lanes 1,500,000
Legacy (First St. - Prosper Trail) 2SB Lanes
(Park Place DA)
200,000
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Legacy (First St. - Prosper Trail) 2SB Lanes
(Star Trail DA)
550,000
First Street (Coleman - Craig) 2,000,000
Craig Street (Preston - Fifth) 300,000
Prosper Trail (Legacy - DNT) 1,200,000
DNT Main Lanes (US 380 - FM 428) 5,114,124
Traffic Signal - First & Artesia 460,000
Traffic Signal - Teel & Prairie 460,000
Traffic Improvement Projects 1,500,000
Traffic Signal Communications Program Phase 2
of 2
495,000
Traffic Signal - Legacy & Prairie 525,000
Unprogrammed Streets Projects 800,000
Parks Projects
Downtown Park (Broadway/Parvin)
(Construction)
750,000
Doe Branch Trail Connections 500,000
Raymond Community Park, Phase 1 2,100,000
Playgr. Shade Struct.-Pecan Grove, Preston
Lakes, Prairie Pk
160,000
Pecan Grove Park Trail - (Grant Match $129k) 248,798
Whitley Place Meadow Park Pavilion - (Grant
Match $118k)
218,130
Raymond Comm. Park, Trail/Bridge (Grant
Match $448k)
848,122
Frontier Park Concrete Repairs 120,000
Parks & Recreation Admin Facility Parking Lot
Paving
80,000
Downtown Improvements 1,000,000
Doe Branch Property Masterplan 140,000
Doe Branch Property Six Creek Crossing 650,000
Unprogrammed Parks Projects 800,000
Facility Projects
Fire Station #4 (Other Development Costs) 700,000
Fire Station #4 (Construction) 1,025,000
Fire Station #4 (FF&E) 775,000
Parks and Public Works, Phase 1 2,352,938
Public Safety Fiber Ring 1,000,000
Fire Station #3 Upgrades and Repairs 190,000
Town Hall Repairs - N. Parking Lot & Front
Steps & Fountain
273,000
Unprogrammed Public Safety Projects 592,935
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Water Projects
FM 1461 12in Water Line Relocation -
Construction
3,500,000
Parks & Public Works Facility - Construction 5,000,000
6MG Ground Storage Tank - Construction 2,560,993
Craig St 2MG EST Rehabilitation - Design 460,000
Unprogrammed Water/Wastewater Projects 286,463
Wastewater Projects
Doe Branch Parallel Interceptor - Design &
Construction
8,853,327
Upper Doe Branch WW Line (Teel-PISD
Stadium) - Construction
3,000,000
Doe Branch, Phase 3 WWTP - Design &
Construction
49,946,277
Denton ISD WW Line Reimbursement - Design
& Construction
531,622
Stormwater Drainage Projects
Old Town Regional Detention Pond #2 - Design 50,000
REGIONAL PARTNERSHIPS
The following items have also been incorporated into the FY 2024-2025 Adopted Budget:
Continued partnerships with other entities have produced multiple saving
opportunities for shared services or improving our customer service to residents
and visitors alike.
• The Town has an Interlocal Agreement with PISD to access their fueling facility
for emergency purposes and to use specified PISD facilities for recreation and
other programs.
• The Town renews its agreements along with several area cities to contract with
Collin County for Animal Control and Sheltering Service.
• The Town has Interlocal agreements with Frisco for the Police and Fire
Departments to access their radio system.
• The Town has Interlocal Agreements for landscape services with the City of
McKinney and City of Frisco.
GENERAL DISCUSSION ITEMS/COUNCIL POLICY GUIDANCE
14
The five elements of the council strategic vision all complement each other, and all
contribute to the ultimate quality of life and a thriving community at build-out. This does
not mean, however, that the elements do not compete with each other for funding, with
the greatest competition existing between Acceleration of Infrastructure and Excellent
Municipal Services. Two years ago, (FY 2022-2023), the Council created a Capital
Dedicated portion of property tax that is budgeted for 10 cents of rate and $9.6 million of
funding. This capital dedicated levy would otherwise be used to provide General Fund
services and is creating pressure to keep the General Fund budget lean.
On the expenditure side multiple discretionary budget requests have been reduced or
eliminated. In addition, non-recurring requests that exceeded a $250,000 threshold and
were clearly capital in nature were removed and will be considered for Capital Dedicated
or other capital project funding. A list of discretionary items that the Executive Team feel
have merit but were removed due to lack of funding have been included in a separate
section of this Adopted Budget.
CONCLUSION
While budgets are always a challenge, we have worked diligently to propose a budget
that accomplishes Council goals to expand services and competitively compensate staff
while holding the line on the tax rate. We have also presented a future five-year financial
plan to help manage the decisions made for the next fiscal year and the impact it has on
future fiscal responsibilities. The Town’s adopted budget attempts to address the current
and future growth and infrastructure expansion demands while recognizing the current
service needs of its residents.
I would also like to compliment and thank the entire Town staff for their dedication,
diligence, and fiscal accountability in providing their respective services to the Town
Council and the residents of Prosper.
Sincerely,
Mario Canizares
Town Manager
15
Entity Profile
The Town is a political subdivision and a home rule municipality under the law of the state. A
Home Rule Charter was approved by the voters of the Town at an election held November 7,
2006, and revised on May 14, 2011, and May 6, 2017. The Town operates as a Council-Manager
form of government with the Town Council comprised of the Mayor and six Council Members.
The term of office is three years. The Town Manager is chief executive officer of the Town.
Services the Town provides include public safety (police, fire protection, and dispatch), and
municipal court, public streets, water/wastewater, solid waste and storm drainage utilities, parks
and recreation, library, public improvements, engineering, planning and zoning, building
inspections and code compliance, economic development and general administrative services.
Some services, such as legal and solid waste/recycling, are outsourced in full or in part to the
private sector.
The Town is located in North Central Texas and covers approximately twenty-seven square miles
of the Dallas/Fort Worth Metroplex (“DFW”). Prosper includes areas in Collin and Denton
Counties, with most of the Town’s population residing in Collin County. The Town is located at
the crossroads of Preston Road and US Highway 380 and is just five minutes north of the bustling
Dallas North Tollway cities of Frisco and Plano.
Prosper is home to nationally recognized educational opportunities. The Fire and Police
Departments have received excellent marks for exemplary service and response times. The
community has over 634 acres of open space and parks and is providing connectivity to all of
them. Most neighborhoods boast larger lots and have active Homeowners Associations which
protect quality and aesthetics. The Dallas-Fort Worth airport is within 45 minutes of the
community with easy access to interstate and tollway systems. Prosper was chosen as the North
Campuses for Children’s Hospital and Cook Children’s Hospital. In 2019, Prosper was
recognized in two publications as one of the top 25 “greatest small towns to live in the U.S.” With
a median income of $198,632, the community is one of affluence, with access to numerous
amenities, excellent health care, and opportunities for business growth.
The 2010 Census population for the Town was 9,423, 2020 Census population was 30,174, and
the estimated 2024 population is 42,598.
9,462 12,190
14,710 17,790
22,650
28,390 31,100
35,430
38,540
42,598
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2010 2012 2014 2016 2018 2020 2021 2022 2023 2024
Town of Prosper Population Estimates
16
17
The Budget Process
PURPOSE OF AN ANNUAL BUDGET
The Town of Prosper Budget serves multiple purposes. It is:
The legally adopted and binding financial and spending plan of the Town.
A communication tool to residents, businesses, and employees regarding the Town's priorities and initiatives.
A demonstration of financial stewardship including compliance with all applicable laws and regulations.
BUDGET OVERVIEW
The Town's fiscal year is from October 1st to September 30th. The Budget is regulated by both Town Charter, Town
financial policies and by State statute. Each fund within the Town has its own budget. Budgetary control is defined by the
Town charter and is at the department level meaning that each department’s appropriations cannot be exceeded or
increase without formal action of the Town Council. Budget changes if made are by ordinance and shall become an
attachment to the original budget. Final adoption of the budget by the Town Council shall constitute the official
appropriations as proposed for expenditures in the current year and shall constitute the basis of official levy of the
property tax as the amount of tax to be assessed and collected for the corresponding tax year.
PREPARATION OF THE ANNUAL BUDGET DOCUMENT
Budget preparation begins with the strategic vision and priorities of the Town Council. In the spring, staff will present to
the Council a multi-year budget forecast to provide a preview of the upcoming budget year and to identify any items or
programs that the Council would like additional information.
Internally, Department heads are provided worksheets and forms for submission. April, the Budget Preparation Manual
is distributed to departments for review. Submissions include funding requests for personnel, improvements to public
services, capital outlays and enhancement projects. Once received from departments, the Finance Department carefully
reviews and evaluates each department's budget submissions for completion and line-item consistency. The overall
picture of estimated revenues and proposed expenditures is studied. Focusing on the Town Council's vision for Prosper
and providing the most efficient and effective services to the Prosper citizens. These budget requests are reviewed by
the Town Manager and his or her Executive Team.
The last week in July, certified property tax rolls are received from the two county appraisal districts serving the Town
providing management a clearer picture of the revenue available to fund programs. Final adjustments are made, and the
Preliminary Budget is presented to the Town Council the first Council meeting in August. The Preliminary Budget is a
staff document that following changes and approval by Town Council becomes the Proposed Budget, which starts the
required due process procedures including legal notice and posting and the scheduling of a public hearing. This
eventually culminates into Town Council public hearing in September. At this time, the Town Council may further
revise the proposed budget as it deems necessary. The final adoption of the Annual Budget takes place in
September when the budget is legally enacted through the passage of an ordinance.
As required by charter, the Town Manager also submits a five-year capital plan as an attachment to the annual budget.
This plan is prepared in conjunction with the Capital Project Fund budget. Each year new capital projects are added to
the fund and the appropriations for these projects carry over from year to year until the project is completed.
BUDGET ADMINISTRATION
The Fiscal Year begins, and the approved budgets are then under the management of the responsible Department Head
and ultimately the Town Manager.
The Town Manager submits monthly financial reports as required by Town Charter and actively manages any shortfalls
in revenues or overages in expenditures. Unless known to be immediately necessary or significant in value, budget
amendments will be done towards the close of the fiscal year, taking into account other possible savings within the fund.
Encumbered amounts are charged to the budget year in which the appropriation was created provided that the invoice
for the good or service is received within two months of year end. On November 30th all purchase orders related to
operations lapse. Purchase orders related to multi-year capital projects are recorded in the capital projects fund and do
not lapse.
18
Summary of Financial Policies
The Town’s Administrative Regulations includes 22 chapters with six chapters having the greatest
impact on day-to-day financial management and resulting financial position of the Town. These are:
Chapter12- Vehicle Equipment and Replacement Fund, Chapter 13 Fund Balance, Chapter 15- Debt
Management Policy, Chapter 16-Debt Post Issuance Policy, Chapter 17-Financial Management
Policy, Chapter and Chapter 21-Capital Project Management Policy
Brief summaries of each policy is included below with the complete policy included as an appendix
to this book. To facilitate a logical topic flow, policies will not necessarily be discussed in chapter
number order.
Chapter 17 - Financial Management Policy
The rapid growth of the Town has required rapid expansion of personnel, facilities and related
finances. To address these issues the following policies are designed to promote strong financial
management.
Annual Audit. Establishes criteria to ensure that the external auditor hired will be sufficiently
experienced in state and local government audits to provide a quality audit. Requires all auditor
findings regarding internal controls to be addressed.
Operating Budgets. Sets the timing for the budget process and level of budgetary control. Requires
a structurally balanced budget in which recurring expenditures may not exceed recurring revenues.
Non-recurring expenditures may be funded from recurring revenues, non-recurring revenues and
fund balance in excess of policy reserves. Budgets that draw reserves below policy requirements
are deficit budgets and a plan must be established to replenish policy reserves.
Tax Rate Management. Establishes a capital dedicated portion of the M & O levy that can be used
fund pay as you go projects and reduce debt issuance in the short-term and then as capital facilities
are built but revenue growth has slowed, can be rediverted to fund operations required for the new
facilities.
Revenue Management. Does not permit dedication of general revenues for specific purposes. User
based fees should be cost based and may be classified as “full” “partial” or “minimal” cost recovery.
Impact fees for water, wastewater and roadways will be reassessed every five years. Utility rates will
be self-supporting.
Expenditure Control. All expenditures must be appropriated by budget. Operating appropriations
that are not expended or encumbered at year end lapse.
Financial Condition and Reserves. Reinforces the requirement for no operating deficits. Establishes
General Fund Reserve at the 20% charter reserve as restricted fund balance and unassigned fund
balance of 1% for a total of 21% (2 ½ months of expenditures). Establishes $25,000 cash reserve
for both Fire and Crime Control Special Purpose Districts. Requires enterprise funds to be self-
sufficient.
Chapter 13 - Fund Balance Policy
Establishes the basis and need for maintaining minimum fund balance reserves, defines categories
of fund balance for financial reporting and references GFOA Best Practices for determining adequate
fund balance. Fund Balance is set at a total of 21% (21/2 months expenditures) for the General Fund,
19
3-5% for Debt Service Fund, 25% (3 months expenses) for the Water and Sewer Fund, $250,000 for
the Solid Waste Fund and 17% (2 months expenses) for the Stormwater Utility Fund.
Chapter 21 - Capital Projects Management Policy
The rapid growth of the Town has created oversized capital budgets relative to operating budgets
and have resulted in long-term agreements with developers for construction of infrastructure that
may not be completed for many years following the agreement. From a materiality standpoint
infrastructure is often the largest single item in a government’s financial statement and must be
properly accounted for. The policy requires departments to furnish to finance all developer related
agreements and contracts. Upon receipt, finance will analyze the contract for proper accounting
treatment including the specific “triggers” that must occur before the transaction is recognized.
Annual closing procedures include review of all open agreements and their status.
Chapter 12 - Vehicle Equipment and Replacement Fund (VERF)
Creates an internal service fund of the Town for the purpose of smoothing the budget impact of large
vehicle and equipment purchases. This approach has the advantage of avoiding debt financing
allowing the Town to avoid deferring maintenance during times of economic downturn and tight
budgets.
Key provisions include:
1) All equipment and vehicle are owned by the VERF.
2) Using departments are charged a monthly fee that is accumulated towards replacement.
3) All items replaced are surrendered by the department with disposal proceeds retained by
VERF.
4) New items due to new programs or positions must be included as part of the annual budget
process and then are donated to VERF.
5) VERF cash balances should approximately equal (defined as +/- 10%) accumulated
depreciation in the fund.
Chapter 15 - Debt Management
Describes the type of debt issuance available to the Town and the circumstances in which each type
of debt may be used. Preference is given to alternate financing means such as PAYGO programs
or capital grants. When debt issuance is necessary, preference is given to voter-approved
governmental debt vs. non-voter approve debt. For capital assets for enterprise activities, the intent
is to pay all debt service from the revenues of the enterprise operation.
Debt issuance should be limited to the acquisition or construction of long-lived capital assets and
never be issued to fund current operations. The maximum final maturity for governmental fund and
enterprise fund debt is 20 and 30 years respectively.
For general obligation governmental debt, the debt service tax levy should never exceed 40% of the
total tax levy. Total tax supported debt should also not exceed 4% of taxable assessed valuation.
It is the Town’s intent that enterprise fund debt service be paid from the revenues generated from
the enterprise activities. If Revenue Bonds are issued, the Town will maintain a coverage ratio of at
least 1.25% of net operating revenue available for debt service to maximum annual debt service.
20
Chapter 16 - Debt Post Issuance Policy
Details the process following debt issuance including tax certificates, Attorney General filing, SEC
Continuing Disclosure (15C2-12), recordkeeping, use of proceeds and Arbitrage Rebate and Yield
calculations.
Compliance
Staff has made every effort to comply with these policies in their entirety and it is our belief that the
budget meets or exceeds all legal and policy requirements except for the Solid Waste Fund. The
reserve requirement of $250,000 will comply by the fiscal year 2026-2027. This fund was created in
fiscal year 2022-2023 and requires a few years to accumulate the reserve required by policy.
21
Town of Prosper Annual Budget Calendar
Budget Calendar Actions
Planning
January - March
Department’s Budget
April - May
May 3 - Town staff completes revenue and expenditure projections through the end of the current fiscal year;
prepares discretionary and non-discretionary budget requests and related forms.
May 9 - Begin compilation and discussions with Department Heads.
Town Manager’s Budget
June - July
June 25 - Strategic Planning/Budget Work Session with Town Council and Department Heads.
July 25 - Chief Appraiser certifies appraisal rolls for taxing units.
July 25 - Certification of anticipated collection rate by collector
Town Council’s Budget
August - September
August 9 - Calculation of no-new-revenue and voter-approval tax rates. 72-hour notice for meeting (Open
Meetings Notice).
August 13 - Town Council meeting to discuss tax rate; if proposed tax rate will exceed the no-new-revenue
tax rate or the voter-approval tax rate (whichever is lower), take record vote and schedule Public Hearings.
Town Manager presents proposed budget for FY 2024-2025. Proposed budget must be posted on website
from this date until adopted.
August 21 - Finance Committee reviews Proposed Budget.
August 23 - 72-hour notice for Budget Town Hall (Open Meetings Notice).
August 29 - Budget Town Hall
September 1 - “Notice of FY 2024-2025 Budget Public Hearing” notice in newspaper and on Town website
published at least seven days before the Public Hearing.
September 6 - 72-Hour notice for Public Hearing at which governing body will adopt tax rate (Open Meetings
Notice).
September 10 - Town Council meeting to consider passing ordinances adopting the FY 2024-2025 budget
and tax rate. Public Hearing for Tax Rate. Budget must be adopted before the tax rate, and both must be
record votes. Taxing unit must adopt tax rate before September 30 or 60 days after receiving certified ap-
praisal roll, whichever is later.
September 11 - Final approved budget to be filed with Town Secretary. Submit ordinances to Collin and
Denton County Tax Offices. Tax Assessor/Collector and Appraisal District notified of current year tax rates.
October 1 - New fiscal year begins and taxes are billed by the Assessor/Collector.
22
Basis of Accounting/Budgeting
The budgetary and accounting policies contained in the budget document conform to generally accepted
accounting principles (GAAP) as established by the Governmental Accounting Standards Board (GASB).
The accounts of the Town are organized on the basis of funds and account groups, each of which is
considered a separate budgetary and accounting entity. Within the budget, the Town's various funds are
grouped into the following categories of fund types:
Governmental Fund Types ‐ Include the General Fund, Debt Service Fund, Capital Project
Funds, and Special Revenue Funds. The budget is organized and operated on a modified accrual
basis of accounting. A financial measurement focus is utilized here as well. Under the modified
accrual basis of accounting, revenues are recorded when susceptible to accrual (i.e., both
measurable and available). Available revenues collected within the current period or soon
thereafter are used to pay liabilities of the current period. Expenditures represent a decrease in
net financial resources, and other than interest on general long‐term debt, are recorded when
the fund liability is incurred, if measurable. Interest on general long‐term debt is recorded when
due.
Proprietary Fund Types – Include the Enterprise Funds and Internal Service Funds. These are
accounted and budgeted for on a cost of services or “capital maintenance” measurement focus,
using the accrual basis of accounting. Under the accrual basis of accounting, revenues are
recognized when earned and expenses are recognized when incurred. For purposes of this budget
presentation, depreciation is not displayed and capital expenditures and bond principal payments
are shown as utilized by each fund.
Governmental Fund Types
Government Fund types are those through which most governmental functions of the Town are financed.
The acquisition, use, and balances of the Town’s expendable financial resources and the related liabilities
(except those accounted for in the Proprietary and Fiduciary Fund types) are accounted for through the
Governmental Fund Types.
General Fund – The General Fund is the general operating fund of the Town. It is used to account
for all revenues and expenditures except for those required to be accounted for in other funds.
Major functions financed by the General Fund include: Administration, Public Safety, Community
Services, Financial Services, HR, IT, Library, Building and Planning, and Parks and Recreation.
Special Revenue Funds – Special Revenue Funds are used to account for the proceeds of
specific revenue sources other than expendable trusts or major capital projects. The Special
Revenue Funds include, but are not limited to, TIRZ #1; TIRZ #2; Crime Control and Prevention
Special Purpose District; Fire Control, Prevention and Emergency Medical Services Special Purpose
District; Park Dedication/Improvement Fund; Impact Fee Funds; and Special Revenue Fund.
Debt Service Fund – The Debt Service Fund is used to account for the accumulation of resources
for, and the payment of, general long‐term debt principal, interest, and related costs.
23
Capital Projects Funds – The Capital Projects Funds are used to account for financial resources
to be used for the acquisition or construction of major capital items or facilities.
Proprietary Fund Types
Enterprise Funds are used to account for operations that are either financed or operated in a manner
similar to private business enterprises, or where the governing body has decided that periodic
determination of revenues earned, expenses incurred, and/or net income is appropriate for capital
maintenance, public policy, management, control, accountability, or other purposes.
Utility Fund – This fund accounts for water and wastewater services for the residents of the
Town. All activities necessary to provide such services are accounted for in the fund, including
administration, operation, maintenance, financing and related debt service, and billing and
collection.
Solid Waste Fund – This fund accounts for solid waste collection services for the residents of
the Town. All activities necessary to provide such services are accounted for in the fund, including
administration, operation, maintenance, and billing and collection.
Stormwater Utility Fund – This fund accounts for the costs associated with the implementation and
ongoing administration of stormwater and drainage management needs of the Town. All
activities necessary to provide such services are accounted for in the fund,
including administration, operation maintenance, financing and related debt service, and
billing and collection.
Internal Service Funds – The Internal Service Funds include the Health Insurance Trust Fund
that accounts for the Town’s self‐insurance activities, and the Town’s Vehicle and Equipment
Replacement Fund which accounts for vehicle and equipment replacements.
24
Fund Overview
Non ‐ Major Funds
Major Funds
Town of
Prosper Funds
Governmental
Funds
General Fund Impact Fee
Funds
Debt Service
Fund
Capital Projects
Fund
Special
Revenue Funds
Court
Technology
Fund
Court Security
Fund
Escrow Fund
Park Dedication
Fund
Park
Improvement
Fund
Contributions
Fund
TIRZ #1 Fund
TIRZ #2 Fund
Crime Control and
Prevention Special
Purpose District Fund
Fire Control, Prevention,
and Emergency Medical
Services Special Purpose
District Fund
Proprietary
Funds
Enterprise
Funds
Water/Sewer
Fund
Storm Drainage
Fund
Internal Service
Funds
Vehicle and
Equipment
Replacement Fund
Health Insurance
Trust Fund Solid Waste
Fund
25
Strategic Visioning Process
The Town Council conducted a Strategic Visioning exercise in spring of 2023 to identify a set of long-term
strategic objectives that could be accomplished in a five to ten-year planning horizon, as the Town approaches
build-out. The exercise yielded five Strategic Visioning Priorities. These five priorities form the basis of the
Town’s operations, budget priorities, and work plan.
26
Work with the Capital Improvement Subcommittee to identify gaps in the
Town’s infrastructure and ensure that it meets the demands of a growing
community
Utilize all available financial methods (Bonds, Certificates of Obligation,
Capital Dedicated Fund, Grants, etc.) to fund projects.
Work with the Capital Improvement Subcommittee to plan for a future bond
program and/or pay-as-you-go program.
Collaborate with the Downtown Business Alliance, Community Engagement
Committee, Downtown Committee, and Prosper EDC to implement the
Downtown Master Plan.
Pursue a mix of public and private developments as catalysts for office,
retail, restaurants, entertainment, housing, and outdoor events.
Ensure US 380 and Dallas North Tollway are primed and ready for development.
Develop long-term strategies for land use, landscaping, lighting, and traffic.
Leverage partnerships with TxDOT, NTTA and private development.
Prioritize infrastructure to meet demand, using incentives when appropriate.
ENSURE THE TOWN’S COMMERCIAL CORRIDORS
ARE READY FOR DEVELOPMENT
CONTINUE TO PROVIDE EXCELLENT
MUNICIPAL SERVICES
Strive to be a high-performing organization focused on continuous
improvement, best practices, and benchmarking.
Develop a culture of excellence and provide the financial resources
necessary to support these goals.
Provide a welcoming and respectful environment for residents, visitors,
and Town employees.
Collaborate with Prosper EDC and be adaptable to changing market conditions.
Place an emphasis on corporate, medical, and life-sciences sectors.
Utilize metrics to create resiliency strategies against market changes.
1
2
3
ACCELERATION OF INFRASTRUCTURE
DEVELOPMENT OF DOWNTOWN PROSPER AS
A DESTINATION
4
2024 TOWN COUNCIL
STRATEGIC VISIONING SUMMARY
APPROVED BY THE TOWN COUNCIL ON MAY 28, 2024
WORK TOWARDS A GROWING AND
DIVERSIFIED TAX BASE5
27
Municipal Court JudgeTown AttorneyBoards and CommissionsCitizensMayor and Town CouncilTown ManagerFire ChiefFire MarshalFire OperationsPolice ChiefPolice Operations9-1-1 CommunicationsAssistant Town ManagerEngineeringStormwaterConstruction InspectionsPublic WorksStreetsWaterWastewaterDevelopment ServicesBuilding InspectionsHealth & Code CompliancePlanning Facilities ManagementExecutive DirectorTown SecretaryCommunicationsParks & RecreationParks AdministrationParks OperationsRecreationLibraryDeputy Town ManagerFinanceMunicipal CourtUtility BillingHuman ResourcesInformation TechnologyOrganizational Chart28
GENERAL FUND
ACTUAL
2022-2023
ADOPTED
2023-2024
REVISED
2023-2024
CHANGES
2024-2025
ADOPTED
2024-2025
Town Manager 2.00 2.00 2.00 3.00 5.00
Town Secretary 3.00 3.00 3.00 - 3.00
Finance 11.00 11.50 11.50 1.00 12.50
Human Resources 4.50 4.75 4.75 - 4.75
Information Technology 10.50 11.50 11.50 - 11.50
Communications & Community Engagement 5.50 5.50 5.50 (0.50) 5.00
Municipal Court 4.50 3.50 3.50 1.00 4.50
Police Operations 30.00 41.00 42.00 4.00 46.00
9-1-1 Communications 15.00 17.00 16.00 1.00 17.00
Fire Operations 48.00 50.00 50.00 (6.00) 44.00
Fire Marshal 4.00 4.00 4.00 1.00 5.00
Inspections 21.00 20.00 20.00 - 20.00
Code Compliance 4.00 5.00 5.00 - 5.00
Planning 7.00 7.00 7.00 - 7.00
Streets 11.00 11.00 11.00 2.00 13.00
Facilities 1.00 4.00 4.00 1.00 5.00
Parks 36.50 41.00 41.00 2.00 43.00
Library 9.00 9.50 9.50 0.50 10.00
Engineering 16.50 16.50 16.50 - 16.50
Total General Fund 244.00 267.75 267.75 10.00 277.75
Crime Control 24.00 27.00 27.00 3.00 30.00
Fire Control 26.00 26.00 26.00 6.00 32.00
Water & Wastewater 58.00 62.00 62.00 3.00 65.00
Solid Waste - 1.00 1.00 - 1.00
Stormwater Drainage 2.00 4.00 4.00 1.00 5.00
Total Town of Prosper Employees, All Funds 354.00 387.75 387.75 23.00 410.75
All positions are shown as full-time equivalents. (FTE)
Revised 2023-2024
Transfer 1.0 FTE from 9-1-1 Communications to Police Operations
Preliminary 2024-2025
Finance - Add 1.0 FTE Fleet Coordinator
Communications - Transfer (1.0) FTE to Town Manager; Add 0.5 FTE Communication Specialist PT to FT
Municipal Court - Add 1.0 FTE Court Clerk
9-1-1 Communications - Add 1.0 FTE 9-1-1 Communications CAD Supervisor
Fire Operations - Move (6.0) FTE to Fire Control Special Purpose District
Fire Marshall - Add 1.0 FTE Fire Inspector/Investigator
Streets - Add 1.0 FTE Signs and Marking Technician; Add 1.0 FTE Streets Utility Worker
Facilities - Add 1.0 FTE Facilities Maintenance Technician
Parks - Add 1.0 FTE Irrigation Technician; Add 1.0 FTE Parks Supervisor
Library - Add 0.5 FTE Library Assistant PT to FT
Engineering - Add 1.0 FTE Senior Traffic Engineer; Transfer (1.0) FTE to Town Managers Office
Crime Control - Move 3.0 FTE from General Fund Police
Fire Control - Move 6.0 FTE from General Fund Fire
Water & Wastewater - Add 3.0 FTE Water Crew
Stormwater Drainage - Add 1.0 FTE Stormwater Crew Leader
Town Manager - Add 1.0 FTE Management Analyst; Transfer 1.0 FTE Assistant Town Manager from Engineering; Transfer 1.0 FTE Executive
Director from Communications
Police Operations - Add 5.0 FTE Police Officers (Grant); Add 1.0 FTE Administrative Assistant-Patrol; Add 1.0 FTE Detective; Move (3.0) FTE
Crime Control Special Purpose District
Authorized Positions
29
ACTUAL
2022-2023
ADOPTED
AMENDED
2023-2024
ADOPTED
2024-2025
ESTIMATED RESOURCES
REVENUES:
Taxes 55,088,733 58,833,802 65,526,888
Inter-governmental 1,725,550 46,101 14,848
License, Fees & Permits 10,372,468 13,284,066 12,051,557
Charges for Services 35,960,978 44,682,644 51,447,408
Fines & Warrants 374,226 401,050 352,050
Investment Income 2,364,926 3,186,266 2,819,950
Miscellaneous Revenue 3,751,412 3,949,479 5,164,096
Impact Fees 12,766,409 11,859,453 11,800,000
Subtotal-Revenues 122,404,702$ 136,242,861$ 149,176,797$
OTHER RESOURCES:
Transfers In 1,182,390 3,297,102 1,478,696
123,587,092$ 139,539,963$ 150,655,493
ESTIMATED USES
Direct Expenditures by Function:
General Government/Central Services 15,216,476 19,556,054 21,214,418
Public Safety 21,601,985 26,753,332 28,809,067
Community Services 6,295,260 9,684,567 10,495,687
Streets & Highways 3,442,589 4,664,841 5,108,876
Development Services 2,980,516 4,126,143 4,119,971
Utility Services 22,065,103 30,618,671 33,221,701
Engineering 8,498,025 2,693,500 2,572,798
Debt Service 17,494,710 20,972,673 25,854,480
Transfer to Dedicated Capital Fund - - -
Economic Infrastructure Development 3,791,490 5,956,933 4,925,547
Impact Fee Infrastructure Development 5,789,321 4,180,640 7,672,881
Subtotal-Expenditures 107,175,476$ 129,207,354$ 143,995,426$
Transfers Out 8,269,259 10,466,703 14,407,958
115,444,735$ 139,674,057$ 158,403,384$
EXCESS (DEFICIENCY)8,142,357$ (134,094)$ (7,747,891)$
BEGINNING FUND BALANCE 53,899,954$ 62,042,311$ 61,908,217$
EXCESS (DEFICIENCY)8,142,357$ (134,094)$ (7,747,891)$
ENDING FUND BALANCE 62,042,310$ 61,908,217$ 54,160,326$
TOTAL ESTIMATED RESOURCES:
TOTAL ESTIMATED USES:
CONSOLIDATED FUND SUMMARY
BY YEAR
30
GENERAL FUND
DEBT SERVICE
FUND
IMPACT FEE
FUNDS UTILITY FUNDS
ESTIMATED RESOURCES
REVENUES:
Taxes 36,235,553 18,228,251 - -
Inter-governmental 14,848 - - -
License, Fees & Permits 10,086,952 - - 564,605
Charges for Services 1,342,524 - - 43,390,303
Fines & Warrants 352,050 - - -
Investment Income 950,000 195,000 735,000 462,500
Miscellaneous Revenue 747,183 - 300,000 3,288,190
Impact Fees - - 11,000,000 -
Subtotal-Revenues 49,729,110$ 18,423,251$ 12,035,000$ 47,705,599$
OTHER RESOURCES:
Transfers In 1,478,696 - - -
51,207,806$ 18,423,251$ 12,035,000$ 47,705,599$
ESTIMATED USES
Direct Expenditures by Function:
General Government/Central Services 10,928,574 - - 1,159,940
Public Safety 21,918,772 - - -
Community Services 8,170,637 - - -
Streets & Highways 5,108,876 - - -
Development Services 4,119,971 - - -
Utility Services - - - 33,221,701
Engineering 2,572,798 - - -
Transfer to Dedicated Capital Fund - - - -
Debt Service - 18,843,555 - 7,010,925
Economic Infrastructure Development - - - -
Impact Fee Infrastructure Development - - 7,672,881 -
Subtotal-Expenditures 52,819,628$ 18,843,555$ 7,672,881$ 41,392,566$
Transfers Out - - 13,031,622 1,376,336
52,819,628$ 18,843,555$ 20,704,503$ 42,768,902$
EXCESS (DEFICIENCY)(1,611,822)$ (420,304)$ (8,669,503)$ 4,936,697$
BEGINNING FUND BALANCE 12,689,509$ 1,363,680$ 21,593,938$ 11,022,209$
EXCESS (DEFICIENCY)(1,611,822)$ (420,304)$ (8,669,503)$ 4,936,697$
ENDING FUND BALANCE 11,077,687$ 943,376$ 12,924,435$ 15,958,906$
TOTAL ESTIMATED RESOURCES:
TOTAL ESTIMATED USES:
CONSOLIDATED FUND SUMMARY
FISCAL YEAR 2024-2025
31
SPECIAL
REVENUE
FUNDS
INTERNAL
SERVICE FUNDS
COMBINED
FUNDS
ESTIMATED RESOURCES
REVENUES:
Taxes 11,063,084 - 65,526,888
Inter-governmental - - 14,848
License, Fees & Permits 1,400,000 - 12,051,557
Charges for Services - 6,714,581 51,447,408
Fines & Warrants - - 352,050
Investment Income 207,450 270,000 2,819,950
Miscellaneous Revenue 378,723 450,000 5,164,096
Impact Fees 800,000 - 11,800,000
Subtotal-Revenues $ 13,849,257 7,434,581$ 149,176,797$
OTHER RESOURCES:
Transfers In - - 1,478,696
13,849,257$ 7,434,581$ 150,655,493$
ESTIMATED USES
Direct Expenditures by Function:
General Government/Central Services 1,214,355 7,911,549 21,214,418
Public Safety 6,890,295 - 28,809,067
Community Services 2,325,050 - 10,495,687
Streets & Highways - - 5,108,876
Development Services - - 4,119,971
Utility Services - - 33,221,701
Engineering - - 2,572,798
Transfer to Dedicated Capital Fund - - -
Debt Service - - 25,854,480
Economic Infrastructure Development 4,925,547 - 4,925,547
Impact Fee Infrastructure Development - - 7,672,881
Subtotal-Expenditures 15,355,247$ 7,911,549$ 143,995,426$
Transfers Out - - 14,407,958
15,355,247$ 7,911,549$ 158,403,384$
EXCESS (DEFICIENCY)(1,505,990)$ (476,968)$ (7,747,891)$
BEGINNING FUND BALANCE 5,726,874$ 9,512,006$ 61,908,217$
EXCESS (DEFICIENCY)(1,505,990)$ (476,968)$ (7,747,891)$
ENDING FUND BALANCE 4,220,884$ 9,035,038$ 54,160,326$
TOTAL ESTIMATED RESOURCES:
TOTAL ESTIMATED USES:
FISCAL YEAR 2024-2025
CONSOLIDATED FUND SUMMARY
32
Combined Graphs
Taxes
$65,526,888
Inter-governmental
$14,848 License, Fees & Permits
$12,051,557
Charges for Services
$51,447,408
Fines & Warrants
$352,050
Investment Income
$2,819,950
Miscellaneous
$5,164,096 Impact Fees
$11,800,000
All Funds Revenues by Type
General Government
$21,214,418
Public Safety
$28,809,067
Community Services
$10,495,687
Streets & Highways
$5,108,876
Development Services
$4,119,971
Utility Services
$33,221,701
Engineering
$2,572,798
Debt Service
$25,854,480
Transfer to Capital
Dedicated
$-
Economic Infrastructure
Development
$4,925,547
Impact Fee Infrastructure
Development
$7,672,881
All Funds Expenditures by Type
33
Fiscal Year M&O Funds I&S Fund Total
M&O
Percentage
I&S
Percentage
2019-20 0.367500 0.152500 0.520000 71%29%
2020-21 0.367500 0.152500 0.520000 71%29%
2021-22 0.328000 0.182000 0.510000 64%36%
2022-23 0.329830 0.180170 0.510000 65%35%
2023-24 0.332742 0.177258 0.510000 65%35%
2024-25 0.324608 0.180392 0.505000 64%36%
Property Tax Rate Distribution
M & O and I & S Funds
0.0 0.1 0.2 0.3 0.4 0.5 0.6
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
Tax RateFiscal YearTax Rate Distribution
M&O Funds I&S Fund
34
Property Valuations & Ad Valorem Taxes
General and I & S Funds
TOTAL TAX LEVY $52,096,313
One Penny on the Tax Rate $962,210
Times Anticipated Tax Collections 100%
Plus Actual Tax on Freeze $3,504,700
Times Adopted Tax Rate (Per $100) 0.505
Certified Taxable Value (excluding freeze values) Increased 15.4%
New Construction Totaled $870,449,826
Ad Valorem Taxes
Total Freeze Adjusted Taxable Value $ 9,622,101,595
2,129,311
2,546,144
3,114,007
3,666,923
4,209,0674,601,196
5,437,211
6,616,008
8,335,297
9,622,102
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024Thousands
Tax Year
Certified Assessed Valuation
Source: Collin CAD and Denton CAD Certified Totals Tax Years 2015-2024
35
Source: The Texas State Comptrollers Website
The Town's three major categories (Retail trade, General Services,and Food) make up
approximately 79% of the Town's sales tax collections.
Sales taxes contribute approximately 25.1% of General Fund revenues and are the second largest
source of revenue for the General Fund budget.The Town examines the market conditions in
Prosper and the Metroplex in budgeting sales tax conservatively year to year.
Notes:The Town held an election May,2018 to create two Special Purpose Districts for Crime and
Fire that are supported by a quarter of a percent of sales tax collected in the Town.The initial
approval was for five years.In May of 2023, voters approved a twenty year extention on the Special
Purpose Districts.
Sales Taxes
General, Special Purpose Districts, and EDC Funds
$3,997 $5,071 $6,849 5,374 6,618 8,902 10,343 11,077 11,658 $12,620 2,606
3,229
4,376
5,094 5,494 5,829 $6,310
$1,398 $1,755
$2,283
$2,687
$3,309
$4,451
$5,171
$5,538 $5,829
$6,310
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
ThousandsEDC
Sales
Tax
SPDs
Sales
Tax
Town
Sales
Tax &
TIRZ
36
Impact Fee Revenues
Impact Fee Funds
Texas Local Government Code Chapter 395 requires an impact fee analysis before impact fees are set.
Chapter 395 requires that land use assumptions and capital improvement plans be updated at least every
five years, and the Town of Prosper last completed an impact fee analysis in 2017.In 2023,the Town
began an updated Impact Fee Study and the analysis is currently being performed. During FY 2016-
2017, Council adopted land use assumptions and a capital improvements plan establishing impact fees
for water, wastewater, and roadways by amending Article,10.02 "Capital Improvements and Impact
Town of Prosper's Code of Ordinances, Section 10.02.001 purpose of impact fees is to assure the
provision of adequate public facilities to serve new development in the Town by requiring each such
development to pay its share of the costs of such improvements by and attributable to such new
development. The budget reflects a conservative revenue forecast for impact fees based on growth that is
taking place, but not at the rate reflected in previous years.
12,766,409
$11,859,453 $11,800,000
11,200,000
11,400,000
11,600,000
11,800,000
12,000,000
12,200,000
12,400,000
12,600,000
12,800,000
13,000,000
2022-2023
Actual
2023-2024
Budget
2024-2025
Adopted
37
38
GENERAL FUND
General Fund Description
The General Fund is the operating fund of the Town. The General Fund receives and accounts for all general tax
revenues and other receipts that are not restricted by law or contractual agreement to some other designated
fund. The General Fund includes a greater variety and amount of revenues, and finances a wider range of
governmental activities than any other fund. The primary revenue sources for the General Fund are property
taxes, sales taxes, franchise fees, license and permit fees, fines and warrants, and miscellaneous general
revenues.
The General Fund accounts for general purpose expenditures for most government functions. Operations in the
General Fund provide basic services such as Administration, Police Services, Fire Services, Public Works,
Community Services, Development Services, and Engineering. Included for each operational area is an
organizational chart, program description, goals and objectives, personnel summary, and an expenditure
summary.
3
Fiscal Year Days Over Minimum Reserve Value of Each Day
2020-2021 121 95,839$
2021-2022 67 120,830$
2022-2023 43 139,678$
2023-2024 24 127,107$
2024-2025 2 142,201$
General Fund
Fund Balance
The Town Charter proposes a legal restriction on a Contingent Reserve of the General Fund in the amount
of twenty percent (20%).It is the goal of the Town to achieve and maintain an unassigned fund balance in
the General Fund equal to five percent (5%)of budgeted expenditures for unanticipated expenditures,
unforeseen revenue fluctuations, or other adverse circumstances.This percent was revised to one percent
(1%)for FY 2022-2023 and future years. This amount is in addition to the twenty percent (20%)restricted
fund balance amount required by the Town Charter.In FY 2021-2022, Council approved one-time capital
expenditures by utilizing a strong unrestricted fund balance. This helped fund roads and equipment versus
issuing debt, while still maintaining the required reserves per charter and policy.
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
2020-2021
Actual
2021-2022
Actual
2022-2023
Actual
2022-2023
Budget
2024-2025
Adopted
Unrestricted Contingency per Charter 5% Reserve 1% Reserve Over Minimum Reserve
4
Revenue Category FY 2025 Adopted % of Total
Property Tax 23,332,018 45.6%
Sales Tax 12,903,535 25.2%
Franchise Fees 3,334,932 6.5%
License, Fees & Permits 5,990,720 11.7%
Charges for Services 1,342,524 2.6%
Fines & Warrants 352,050 0.7%
Grants 14,848 0.0%
Investment Income 950,000 1.9%
Transfers In 1,478,696 2.8%
Miscellaneous 747,183 1.5%
Park Fees 761,300 1.5%
Revenue Total $51,207,806 100.0%
Other $761,300
General Fund Revenues
By Source
45.6%
Property Tax
25.2%
Sales Tax
6.5%
Franchise Fees
11.7%
License, Fees & Permits
2.6%
Charges for Services
0.7%
Fines & Warrants 0.0%
Grants
1.9%
Investment Income 2.8%
Transfers In
1.5%
Miscellaneous
1.5%
Park Fees
5
Department FY 2025 Adopted % of Total
Administration 10,928,574 20.7%
Police Services 11,538,858 21.8%
Fire Services 10,379,914 19.7%
Public Works 5,108,876 9.7%
Community Services 8,170,637 15.5%
Development Services 4,119,971 7.8%
Engineering 2,572,798 4.9%
Dedicated Capital -0.0%
Expense Total $52,819,628 100.0%
General Fund Appropriations
By Department
FY 2025 Adopted - $52,819,628
FY 2024 Adopted Amended - $49,837,390
Administration
20.7%
Police Services
21.8%
Fire Services
19.7%
Public Works
9.7%
Community Services
15.5%
Development
Services
7.8%
Engineering
4.9%
Administration
20.5%
Police Services
20.1%
Fire Services
21.1%
Public Works
9.4%
Community Services
15.2%
Development
Services
8.3%
Engineering
5.4%
6
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
RECURRING REVENUES
Property Tax 23,676,303 21,146,121 21,185,761 23,332,018 25,958,267 28,525,979 31,036,770 33,505,179
Sales Tax 10,130,889 11,091,492 11,658,281 12,903,535 13,840,043 14,806,740 15,695,145 16,636,853
Franchise Fees 2,386,163 3,221,816 3,136,725 3,334,932 3,524,238 3,728,034 3,947,635 4,186,319
License, Fees & Permits 5,920,832 5,792,150 6,922,801 5,990,720 5,999,149 6,042,888 6,073,781 6,105,316
Charges for Services 1,166,098 1,296,024 1,295,880 1,342,524 1,325,251 1,325,940 1,326,646 1,327,308
Fines & Warrants 374,226 300,500 401,050 352,050 352,050 352,050 352,050 352,050
Investment Income 877,138 750,000 1,004,268 950,000 750,000 750,000 750,000 750,000
Transfers In 1,132,390 1,297,102 1,297,102 1,478,696 1,626,566 1,789,222 1,968,144 2,164,959
Miscellaneous 168,175 144,150 156,171 747,183 111,150 111,150 111,150 111,150
Park Fees 695,719 667,850 695,650 761,300 90,500 90,500 90,500 500
TOTAL RECURRING REVENUES 46,527,933$ 45,707,205$ 47,753,689$ 51,192,958$ 53,577,214$ 57,522,503$ 61,351,821$ 65,139,634$
RECURRING EXPENDITURES
Administration 7,646,396 9,415,421 9,338,200 10,506,487 10,926,746 11,363,816 11,818,369 12,291,104
Police Services 6,276,727 9,264,810 8,281,914 10,779,230 11,210,399 11,658,815 12,125,168 12,610,174
Fire Services 9,420,541 10,352,080 10,368,010 10,236,399 10,645,855 11,071,689 11,514,557 11,975,139
Public Works 3,402,594 4,527,247 4,419,209 4,994,174 5,193,941 5,401,699 5,617,767 5,842,477
Community Services 3,855,602 5,796,881 6,636,282 8,003,896 8,324,052 8,657,014 9,003,294 9,363,426
Development Services 2,433,976 3,593,315 4,091,256 4,119,971 4,284,770 4,456,161 4,634,407 4,819,783
Engineering 8,288,025 2,474,047 2,623,500 2,552,112 2,654,196 2,760,364 2,870,779 2,985,610
New Police Positions - - - - 1,412,957 948,771 1,177,104 152,328
New Fire Positions - - - - 536,315 630,650 105,108 1,437,066
All other Town Departments New Positions - - - - 1,359,296 1,446,761 1,011,101 1,508,101
TOTAL RECURRING EXPENDITURES 41,323,863$ 45,423,801$ 45,758,371$ 51,192,269$ 56,548,528$ 58,395,740$ 59,877,653$ 62,985,209$
NET RECURRING FUNDS 5,204,070$ 283,404$ 1,995,318$ 689$ (2,971,314)$ (873,237)$ 1,474,168$ 2,154,425$
NON-RECURRING "ONE-TIME" REVENUES
Grants 1,525,000 37,840 46,101 14,848 - - - -
Miscellaneous 150,000 153,750 37,500 - - - - -
TOTAL NON-RECURRING "ONE-TIME" REVENUES 1,675,000$ 191,590$ 83,601$ 14,848$ -$ -$ -$ -$
NON-RECURRING "ONE-TIME" EXPENDITURES
One-Time Expenditures*3,429,838 3,203,456 4,079,019 1,627,359 1,700,000 1,700,000 1,700,000 1,700,000
TOTAL NON-RECURRING "ONE-TIME"EXPENDITURES 8,960,323$ 3,203,456$ 4,079,019$ 1,627,359$ 1,700,000$ 1,700,000$ 1,700,000$ 1,700,000$
NET NON-RECURRING "ONE-TIME" FUNDS (7,285,323)$ (3,011,866)$ (3,995,418)$ (1,612,511)$ (1,700,000)$ (1,700,000)$ (1,700,000)$ (1,700,000)$
NET CHANGE IN FUND BALANCE (2,081,253)$ (2,728,462)$ (2,000,100)$ (1,611,822)$ (4,671,314)$ (2,573,237)$ (225,832)$ 454,425$
BEGINNING FUND BALANCE 16,770,862$ 18,925,919$ 14,689,609$ 12,689,509$ 11,077,687$ 6,406,373$ 3,833,136$ 3,607,304$
ENDING FUND BALANCE 14,689,609$ 16,197,457$ 12,689,509$ 11,077,687$ 6,406,373$ 3,833,136$ 3,607,304$ 4,061,728$
BALANCE OF UNRESTRICTED FUNDS 14,689,609$ 16,197,457$ 12,689,509$ 11,077,687$ 6,406,373$ 3,833,136$ 3,607,304$ 4,061,728$
Less: Contingency per Charter 8,264,773 9,084,760 9,151,674 10,238,454 11,309,706 11,679,148 11,975,531 12,597,042
1% Reserve 413,239 454,238 457,584 511,923 565,485 583,957 598,777 629,852
AMOUNT OVER (UNDER) MINIMUM RESERVE TARGET 6,011,598$ 6,658,459$ 3,080,251$ 327,311$ (5,468,818)$ (8,429,970)$ (8,967,003)$ (9,165,166)$
% AMOUNT OVER MINIMUM RESERVE TARGET 12%14%6%1%-9%-14%-15%-14%
AMOUNT OVER (UNDER) IN DAYS OPERATING COST 43 53 24 2 (35)(52)(54)(52)
* See Appendix for One-Time Expenditure details. Most One-Time Expenditures are for capital expenditures related to new Police positions.
General Fund Summary
7
General Fund Overview
General Fund
Administration
Town Manager's
Office
Town Secretary's
Office
Finance
Human
Resources
Information
Technology
Communications
Municipal
Court
Non‐
Departmental
Police Services
Operations
9‐1‐1
Communications
Fire Services
Operations
Marshal
Public Works
Streets
Facilities
Management
Community
Services
Park
Administration
Park
Operations
Park
Recreation
Library
Development
Services
Building
Inspections
Code
Compliance
Planning
Engineering
Engineering
8
DEPARTMENT:DIVISION:
Administration Town Manager's Office
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Commercial taxable value as a percentage of total taxable value 21.7%20.9%21.5%
Percentage change in taxable commercial property values 20.6%18.1%18.0%
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Certified Tax Roll - percentage change from prior year 21.7%26.0%14.3%
New property value as a percentage of taxable value growth 50.4%51.7%68.3%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Town Manager’s office oversees all community functions and services by directing, motivating, and providing leadership to the
various departments of the Town. The Town Manager provides administrative guidance to the Town Council and is responsible for
the administration of all affairs of the Town with only those exceptions specified in the Town Charter. The Town Manager and
Executive Team serve as liaisons between the Town Council, residents, and staff, in order to:
• Better serve our community by providing excellence in municipal services
• Communicate and accomplish Town Council priorities and objectives
• Cultivate a strong and dynamic future for Prosper
VISIONING PRIORITIES AND OBJECTIVES
1. Acceleration of the Town's Infrastructure by working with the Capital Improvement Subcommittee to ensure that public
infrastructure is planned and constructed to meet the demands of a growing community and utilizing all available financial methods
to fund projects.
2. Continuing the development of Downtown Prosper as a destination by engaging with local business owners, Citizen Engagement
Committee and Prosper EDC
3. Ensuring the main commercial corridors in Prosper, US Highway 380 and Dallas North Tollway (DNT) are ready for development.
4. Striving to always provide excellence in municipal services by being a high-performing organization, continuously finding ways to
improve. Develop an aligned organizational culture of excellence that welcomes residents, visitors and Town employees and provide
the necessary support and resources to accomplish these goals.
5. Continue to explore strategies and solutions that will provide a growing and diversified tax base so that Prosper residents can
enjoy quality municipal services.
9
DEPARTMENT:DIVISION:
Administration Town Manager's Office
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 526,052 $ 614,502 $ 1,343,820
Operations 211,870 172,422 173,422
Transfers - - -
VERF Charges for Services 66 66 450
TOTAL $ 737,988 $ 786,990 $ 1,517,692
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Assistant Town Manager 0.00 0.00 1.00
Deputy Town Manager 1.00 1.00 1.00
Executive Director 0.00 0.00 1.00
Management Analyst 0.00 0.00 1.00
Town Manager 1.00 1.00 1.00
TOTAL 2.00 2.00 5.00
Town Manager
Police Chief Management AnalystFire ChiefExecutive Director
AssistantTown Manager
Deputy Town Manager
10
DEPARTMENT:DIVISION:
Administration Town Secretary's Office
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Board and Commission Applications Processed 38 35 35
Registered Voters 24,103 25,430 26,702
Public Information Requests (PIRs) processed 576 320 585
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Meeting notices and other public notices posted on Town bulletin board and
website in accordance with Open Meetings Act 100%100%100%
Voter turnout in Town of Prosper General/Special Election 15.03%N/A 15.00%
Registered voters as a percentage of population 62%60%60%
Responses to PIR's within 10 business days 100%100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Town Secretary is responsible for administrative support for the Mayor and Town Council, the posting of meeting notices in
accordance with the Open Meetings Act,the final preparation and posting of the Town Council Meeting Packet, administration of
elections, and responding to Public Information Requests in accordance with the Public Information Act.The Town Secretary
oversees the town-wide records management program, coordinates the storage and disposition of inactive Town records, provides
support and training to Town staff on records management procedures, and serves as custodian of the Town's historical records.
The Town Secretary reports to the Executive Director. Support staff includes a Records Coordinator and an Executive Assistant,
who also supports the Town Manager's Office including the Deputy Town Manager, and on occassion the Executive Director.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to Provide Excellent Municipal Services
• Provide professional, timely, and courteous administrative support to the Town Council.
• Respond promptly to requests for documents, ensuring that internal and external customers receive information
in a timely manner.
• Publish legal notices to satisfy state law and inform the public through print media.
• Post meeting notices and other legally-required public notices in accordance with the Open Meetings Act, the
Election Code, and state law.
• Maintain official Town records in accordance with the Public Information Act and the Texas State Library guidelines
for records management.
• Continue professional development and networking opportunities through appropriate professional
organizations.
• Establish and maintain positive relationships with elected officials, Town staff, and the public.
• Provide outstanding customer service to the public and to Town of Prosper staff.
• Coordinate all aspects of Town elections, including managing contracts through Collin and Denton Counties for
election services.
11
DEPARTMENT:DIVISION:
Administration Town Secretary's Office
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 273,317 $ 309,350 $ 313,674
Operations 272,773 280,310 280,310
Transfers - - -
VERF Charges for Services - - 175
TOTAL $ 546,090 $ 589,660 $ 594,159
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Town Secretary 1.00 1.00 1.00
Executive Assistant 1.00 1.00 1.00
Records Management Specialist 1.00 1.00 1.00
TOTAL 3.00 3.00 3.00
Town Secretary
Executive Assistant
Records Management Specialist
12
DEPARTMENT:DIVISION:
Administration Finance
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Invoices processed 7,402 8,350 9,200
Accounts Payable payments processed 4,328 4,500 4,700
Journal entries processed 4,564 4,800 5,000
Payroll payments processed 8,384 10,231 10,668
Purchase orders/change orders issued 456 650 8,500
Bids/Contracts processed 64 77 85
P-card Transactions 5,344 6,415 7,400
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Invoices paid within 30 days 82%81%82%
Vendors on ACH/Wire payments 29%23%33%
Procurements distributed/processed in the eProcurement system 33%35%33%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Finance Department is responsible for all fiscal transactions and preparation of financial reports. The department is also
responsible for development of the Town's annual operating budget as well as cash management, purchasing, revenue collection,
debt management, payment disbursements and investment of Town funds.An external auditor prepares an annual audit of Town
funds to ensure the proper and ethical accounting of public funds. The Payroll function also resides under the Finance Division
umbrella and is responsible for the timely and accurate payment of all Town employees.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to Provide Excellent Municipal Services
• Continue to maintain our current bond credit rating, Moody's Aa1 and S&P AA+.
• Receive the Certificate of Achievement from GFOA for the Annual Comprehensive Financial Report.
• Maximize use of e-procurement system.
• Receive the annual Achievement of Excellence in Procurement Award.
13
DEPARTMENT:DIVISION:
Administration Finance
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel 1,204,319$ 1,316,602$ 1,429,967$
Operations 1,126,846 1,039,158 789,034
Transfers - - -
VERF Charges for Services - 1,250 250
TOTAL 2,331,165$ 2,357,010$ 2,219,251$
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Accounting Manager 1.00 1.00 1.00
Accounts Payable Specialist 1.00 1.00 1.00
Administrative Assistant 0.00 0.50 0.50
Assistant Finance Director 1.00 1.00 1.00
Assistant Purchasing Manager 1.00 1.00 1.00
Budget Officer & Grants Administrator 0.00 1.00 1.00
Buyer 1.00 1.00 1.00
Finance Director 1.00 1.00 1.00
Grants Administrator 1.00 0.00 0.00
Payroll Administrator 1.00 1.00 1.00
Fleet Coordinator 0.00 0.00 1.00
Purchasing Manager 1.00 1.00 1.00
Senior Accountant 2.00 2.00 2.00
TOTAL 11.00 11.50 12.50
Finance Director
Assistant Finance Director
Accounting Manager
Senior Accountant (2)
Accounts Payable Specialist
Payroll Administrator
Purchasing Manager
Assistant Purchasing Manager
Buyer
Fleet Coordinator
Budget Officer & Grants Administrator
Administrative Assistant
14
DEPARTMENT:DIVISION:
Administration Human Resources
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Number of employees hired 100 105 70
Terminations 53 50 45
Applications processed 3,393 2,284 1,800
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Full-Time turnover 17.04%13.30%10.00%
Time to hire (days)67 24 20
Employee participation in wellness benefits 55% (158)55% (170)61% (214)
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 550,287 $ 569,199 $ 557,705
Operations 125,669 142,806 228,306
Transfers - - -
VERF Charges for Services 354 354 650
TOTAL $ 676,310 $ 712,359 $ 786,661
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Human Resources Department is responsible for hiring great talent to support the goals of the Town. The HR Department
manages various elements of each employee's work experience including: training and development; benefits administration;
compensation processes; performance appraisals; disciplinary processes; and worker's compensation and property liability issues.
The HR department supports an atmosphere in which employees are rewarded and recognized for their contributions. The
department strives to provide services based on the evolving needs of employees and the Town.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to Provide Excellent Municipal Services
• To maintain a quality workforce through effective recruitment and retention efforts.
• To support positive Town culture through delivering HR services in a timely manner and which meet the needs of
employees.
• To facilitate leader and employee development through providing educational tools, resources, and training to
support employee growth.
15
DEPARTMENT:DIVISION:
Administration Human Resources
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
HR Director 1.00 1.00 1.00
HR Generalist 2.00 1.00 1.00
HR Manager 0.00 1.00 1.00
HR Specialist 1.00 1.00 1.00
Payroll Specialist 0.50 0.75 0.75
TOTAL 4.50 4.75 4.75
HR Director
HR Manager
Payroll Specialist HR Generalist -Employment
HR Specialist
16
DEPARTMENT:DIVISION:
Administration Information Technology
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Average help desk tickets opened per month (Operations)297 334 400
Average help desk tickets opened per month (Data & GIS)70 64 75
Public Web map average daily views 33 35 40
Internal Web map average daily views 2,863 3,000 3,200
Tyler EP&L Webmap average daily hits 10,230 12,000 13,500
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Average help desk tickets closed per month (Operations)99%113%100%
Average help desk tickets closed per month (Data & GIS)95%95%100%
I.T. Systems availability (uptime)99%99%99%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 1,081,458 $ 1,287,510 $ 1,391,115
Operations 808,686 1,375,427 1,846,462
Capital 35,939 - 160,850
Transfers - - -
VERF Charges for Services 31,940 33,090 56,000
TOTAL $ 1,958,023 $ 2,696,027 $ 3,454,427
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Information Technology Department supports key systems for all Town departments including critical public safety operations
as well as directing, planning, supporting, and coordinating all activities related to the acquisition, installation, maintenance, and
administration of the Town's technical infrastructure, information, asset management, location intelligence and analytics, telephone,
network, and records management resources and systems.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Acceleration of Infrastructure
• Integrate the Capital Improvement Program (CIP) into the GIS
• Integrate data transmission and data center infrastructure into the CIP
Town Council Strategic Visioning Priority - Continue to Provide Excellent Municipal Services
• Continued to manage the Tyler ERP implementation and help to ensure project success.
• Complete migration of department and user folders to SharePoint / OneDrive
• Refine and enforce SLA thresholds for Help Desk and GIS services
• Continue rollout of formal cybersecurity program
• Provide field staff capability to utilize GIS
• Add infrastructure assets (CIP projects, utilities, street markers, medians) to GIS
17
DEPARTMENT:DIVISION:
Administration Information Technology
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Director of Information Technology 1.00 1.00 1.00
Administrative Assistant 0.50 1.00 0.50
Information Technology Manager 1.00 1.00 1.00
Help Desk Technician I 2.00 3.00 3.00
Help Desk Technician II 1.00 1.00 1.00
Systems Administrator 0.00 0.00 0.00
Technical Project Manager/Business Systems Analyst 1.00 1.00 1.00
GIS Analyst I 1.00 1.00 1.00
GIS Analyst II 1.00 1.00 1.00
GIS & Data Manager 1.00 1.00 1.00
Business Systems Analyst 1.00 1.00 1.00
TOTAL 10.50 12.00 11.50
Director of Information Technology
Data & GIS
GIS & Data
Manager
Business
Systems
Analyst
GIS Analyst
I
GIS Analyst
II
Administrative
Assistant Operations
I.T.
Manager
Help Desk Technician I
(3)
Help Desk Technician II
Technical
Project
Manager /
Business
Analyst
18
DEPARTMENT:DIVISION:
Administration
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Social Media posts 3,863 5,388 5,657
Communication Help Tickets Resolved 312 388 427
Videos Published 226 533 586
Digital Publications Created 146 170 179
Resident Update Subscribers 4,035 4,411 4,852
Graphic Design Requests 74 189 208
MyProsper Mobile App Service Requests Submitted 536 1,227 1,350
MyProsper Mobile App Downloads (per year) 1,070 1,871 2,152
Community Engagement Opportunities 87 88 102
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Communications & Community Engagement (CCE) Department is dedicated to providing top-tier service to residents, staff,
media, and the broader community by effectively disseminating information through various communication channels. The CCE
Department's objective is to foster and maintain public trust and transparency by delivering accurate, reliable, and timely information
and updates on Town services, programs, and events, ensuring the Prosper community is well-informed about their municipal
government.
Engaging with the community through a diverse array of programs, the CCE Department manages the Town's internal and external
communication strategies. This includes media releases, newsletters, social media, photo and video content, the Town website,
printed and digital materials, and community engagement activities.
The Communications & Community Engagement Department operates under the Executive Director and consists of a
Communications Manager, Senior Communications Specialist, part-time Communications Specialist, Community Engagement
Coordinator, and Administrative Assistant.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Visioning Priority: Continue to provide excellent municipal services
Goals:
• External Communication: Deliver relevant, accurate, and timely information to residents and stakeholders through a multi-channel
communication approach.
• Internal Communication: Establish and enhance effective communication tools for the Town Council and staff to ensure seamless
internal operations.
• Crisis Communication: Ensure residents are informed and the Town's organizational stability is protected during emergencies
• Community Engagement: Foster a strong sense of connection and involvement among residents and stakeholders by encouraging
active participation in local government programs and activities.
• Legislative Advocacy: Develop and implement strategies to effectively engage with local, state, and federal elected officials,
conveying the Town's legislative priorities and influencing the legislative process.
Communications & Community
Engagement
19
DEPARTMENT:DIVISION:
Administration
TOWN OF PROSPER
Communications & Community
Engagement
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Social Media Engagement Rate (Likes, Comments, Shares, Retweets) 474,434 618,487 649,411
Resident Update Enews Open Rate 64%66%68%
MyProsper Mobile App Requests - Average Number of Days to Close 16 8 6
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel 544,794$ 664,848$ $ 487,231
Operations 166,348 180,041 207,836
Transfers - - -
VERF Charges for Services 46 346 1,250
TOTAL $ 711,188 $ 845,235 $ 696,317
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 1.00 1.00 1.00
Communications Manager 1.00 1.00 1.00
Communications Specialist - Graphic Design 0.50 0.50 1.00
Community Engagement Coordinator 0.50 1.00 1.00
Executive Director 1.00 1.00 0.00
Senior Communications Specialist 1.00 1.00 1.00
TOTAL 5.00 5.50 5.00
Executive Director
Administrative Assistant
Communications Manager
Senior Communications Specialist
Communications Specialist -Graphic Design
Community Engagement Coordinator
20
DEPARTMENT:DIVISION:
Administration Municipal Court
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Cases Filed 3272 3500 3700
Warrants Issued 629 700 800
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Cases Closed (citations, citizen complaints, incident reports)4,591 2,950 3,200
Warrants Closed/Cleared (arrests and Capias pro fine)1,534 475 550
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 439,964 $ 270,530 $ 384,322
Operations 128,788 178,251 171,876
Capital - - -
Transfers - - -
VERF Charges for Services - - 1,700
TOTAL $ 568,752 $ 448,781 $ 557,898
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Municipal Court processes criminal class C misdemeanors filed by the Prosper Police Department and citizens either by citation,
incident report, or citizen complaint.Civil matters such as property hearings to determine ownership of recovered stolen property are
also handled by the Court. The Court is responsible for ensuring that all persons with matters before the judge are treated
professionally, courteously, and most importantly, fairly. Court staff is available to assist customers by providing knowledge and
quality information to defendants pertaining to court procedures, hearings and/or trials.The Court is a legal forum used to protect the
legal rights of defendants and victims by following the laws of the United States, the State of Texas, and laws implemented by the
Town of Prosper.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Visioning Priority - Continue to provide excellent municipal services
• Timely file, disposition and dispose of matters pending before the court.
• Responsible for accurate revenue collection and reporting.
• Efficient record management and activity reporting to a number of state agencies.
• Handling and processing delinquent cases for warrant and collections.
21
DEPARTMENT:DIVISION:
Administration Municipal Court
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Court Administrator 1.00 1.00 1.00
Court Clerk 2.00 1.00 2.00
Court Supervisor 1.00 0.00 0.00
Judicial Clerk/Youth Diversion Coordinator 0.00 0.00 1.00
Marshal (Part-Time)0.50 0.50 0.50
Senior Court Clerk 0.00 1.00 0.00
TOTAL 4.50 3.50 4.50
Finance Director
Court Administrator
Judicial Clerk/Youth Diversion Coordinator
Court Clerk (2)
Marshal (PT)
22
DEPARTMENT:DIVISION:
Administration Non-Departmental
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel/(Projected Fund Salary Savings) $ 1,390 (174,313)$ $ (551,803)
Operations 1,116,125 1,981,954 1,639,972
Capital 48,320 - -
Transfers - - -
VERF Charges for Services - - -
TOTAL $ 1,165,835 $ 1,807,641 $ 1,088,169
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Non-Departmental budget supports the Town's property insurance and estimated 380 agreements. Projected salary savings for
the General Fund are also accounted for in this division.
23
DEPARTMENT:DIVISION:
Police Operations
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Calls for service (Police Dept. calls only)20,806 24,044 27,595
Citizen initiated calls 10,095 11,824 13,570
Officer initiated calls 10,711 12,221 14,026
Criminal investigations (reported/investigated)1,651 1,747 2,005
Felony Offenses resulting in arrest 240 322 370
Misdemeanor Offenses resulting in arrest 399 455 522
Major & Minor crashes 1,039 927 817
Citations 3,254 3,671 4,213
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Response time (minutes)6:38 6:22 6:10
Total Part 1 Crimes 574 748 923
Violent crimes 124 163 201
Property crimes 450 585 722
Total Part 1 Crimes per capita 1,000 13.92 17.56 21.67
Violent crimes per capita 1,000 3.01 3.83 4.72
Property crimes per capita 1,000 10.91 13.73 16.95
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Prosper Police Department provides community policing for Prosper residents, businesses, organizations and visitors. Our
mission is to provide protection of lives and property, preserve the public peace, and provide community service with the highest
level of professionalism and ethical standards possible through our personnel, strategic resources, and technology. The Department
provides 24-hour law enforcement and emerency communication services to Prosper.
Under the leadership of Chief Doug Kowalski, the Department continues to be an accredited agency with the Texas Police Chiefs
Association Foundation (TPCAF) Accreditation Best Practices Program and adheres to the Best Practices in Law Enforcement.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority: Continue to provide excellent municipal services.
The priority of the Prosper Police Department is to reduce crime through preventive measures, using crime analysis and a structured
call response. Our data-driven approach emphasizes proactive measures. The Department strives to conduct thorough post-crime
investigations, make swift apprehensions resulting in successful prosecutions achieved through agency partnerships, collaboration
and cooperation. To mitigate the adverse impact of crime and disorder, personnel are deployed strategically and technology is
utilized effectively and efficiently.
Through Character, Competence, Compassion, Courage, and Commitment, we provide the highest level of service to make Prosper
a safe place to live, work and visit.
24
DEPARTMENT:DIVISION:
Police Operations
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 4,130,198 $ 5,378,516 $ 6,874,755
Operations 1,341,160 1,520,668 1,631,352
Capital 613,594 1,326,899 813,702
Transfers - - -
VERF Charges for Services 222,456 258,634 420,765
TOTAL $ 6,307,408 $ 8,484,717 $ 9,740,574
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
SWORN
Assistant Police Chief 1.00 1.00 1.00
Corporal 4.00 8.00 8.00
Deputy Chief 0.00 0.00 1.00
Detective 5.00 7.00 8.00
Lieutenant 6.00 6.00 6.00
Police Chief 1.00 1.00 1.00
Police Officer 26.00 27.00 31.00
Sergeant 5.00 11.00 11.00
TOTAL SWORN PERSONNEL 48.00 61.00 67.00
CIVILIAN
Administrative Assistant 1.00 0.00 1.00
Case Manager/Records Coordinator 1.00 1.00 1.00
Case Manager 0.00 0.00 1.00
Crime Analyst 1.00 1.00 1.00
Crime Victim Advocate 0.00 1.00 1.00
Public Safety Officer 2.00 2.00 2.00
Records Clerk 1.00 1.00 1.00
Senior Administrative Assistant 0.00 1.00 1.00
TOTAL CIVILIAN PERSONNEL 6.00 7.00 9.00
TOTAL OPERATIONS PERSONNEL 54.00 68.00 76.00
25
DEPARTMENT:DIVISION:
Police Operations
TOWN OF PROSPER
Police Chief
Asst. Police Chief (Patrol Division)
Lieutenant
(Patrol -4)
Sergeant (8)
Corporal (8)
Officers (27) Traffic Unit (2) K9 Unit (2)
Crime Analyst
Administrative
Assistant
(Patrol)
Deputy Chief
(Support Services & CID)
Lieutenant (Support Services Division)
Sergeant
Public Safety
Officer (2)
Volunteers:Reserve Officers, Chaplains, Citizens on Patrol
9-1-1 Communications
(separate budget)
Lieutenant
(CID)
Sergeant (2)
Detective (8)
Crime Victim
Advocate
Case Manager/
Records Coord.
Case
Manager
Records
Clerk
Senior Administrative Assistant
26
DEPARTMENT: DIVISION: Support Services
Police 9-1-1 Communications Unit
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Calls for service 23,705 24,794 27,433
Total Telephone Calls 9-1-1 + Non-Emergency calls 49,771 51,689 56,858
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Answering all 9-1-1 Calls within 10 seconds 99%99%99%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 1,115,630 1,364,790$ $ 1,596,525
Operations 118,116 157,599 201,297
Capital - - -
Transfers - - -
VERF Charges for Services - - 462
TOTAL $ 1,233,746 $ 1,522,389 $ 1,798,284
TOWN OF PROSPER
PROGRAM DESCRIPTION
The 9-1-1 Communications Unit contributes to the safety and well-being of Prosper with efficient and professional communication
services.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority: Continue to provide excellent municipal services.
Police Department, Support Services Division, 9-1-1 Communications Unit: Diligently and systematically gather information
necessary to ensure a safe and effective response for callers and first responders.
27
DEPARTMENT: DIVISION: Support Services
Police 9-1-1 Communications Unit
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Communications CAD Supervisor 0.00 0.00 1.00
Communications Lead 4.00 4.00 4.00
Communications Manager 1.00 1.00 1.00
Communications Officer 8.00 7.00 7.00
Communications Supervisor 2.00 4.00 4.00
TOTAL 15.00 16.00 17.00
Poice Chief
Lieutenant (Support Services Division)
9-1-1 Communications Manager
9-1-1 Communications Supervisor (4)
9-1-1 Communications Lead (4)
9-1-1 Communications Officer (7)
9-1-1 Communications CAD Supervisor
28
DEPARTMENT:DIVISION:
Fire Services Operations
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Calls for Service to Emergency Incidents 4,137 4,400 4,550
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Average Turnout Time 0:49 0:46 60
Average Response Time to Emergency Scene 5:58 6:00 4:00
EMS Chest Pain at Patient to 12-lead ECG 3:40 4:04 10:00
EMS Average Scene Time for Stroke Patients 14:12 14:27 20:00
EMS Average Scene Time for MI/STEMI Patients 15:44 15:15 20:00
Percent of Outdoor Warning Sirens Successfully Tested 100%100%100%
Percent of Minimum 20 Training Hours per Month per Member 100%100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The mission of the Prosper Fire Department is to be a model of a successful fire department focusing on the protection of life,
property, and the environment.
The Prosper Fire Department is a group of dedicated professionals working together through our commitment to service and
excellence.We dedicate ourselves to the safety of our community by providing the highest level of service possible.We strive for
constant improvement to better serve the community and each other.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Protection of lives and property by providing a timely response to emergency incidents.
• Monitor and plan accordingly for the rapid growth while meeting the immediate needs and planning for the future
to maintain the highest level of excellence.
• Continue to meet and exceed community expectations.
• Achieve operational excellence by providing adequate deployment.
• Enhance core competencies and skills through advanced training.
• Continue our commitment to a culture that is built on excellence, honesty, integrity, values, respect, accountability,
and family.
• Ensure Fiscal Responsibility.
29
DEPARTMENT:DIVISION:
Fire Services Operations
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 7,440,003 7,776,410$ $ 7,422,736
Operations 1,165,345 1,359,570 1,471,416
Capital 92,057 141,926 91,628
Transfers - - -
VERF Charges for Services 607,976 615,907 541,879
TOTAL $ 9,305,381 $ 9,893,813 $ 9,527,659
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 1.00 1.00 1.00
Assistant Fire Chief 1.00 1.00 1.00
Battalion Chief 3.00 3.00 3.00
Captain 6.00 12.00 12.00
Division Chief of EMS 1.00 1.00 1.00
Division Chief of Training 1.00 1.00 1.00
Driver/Engineer 12.00 12.00 12.00
Emergency Management Coordinator 0.00 1.00 1.00
Fire Chief 1.00 1.00 1.00
Firefighter/Paramedic*33.00 37.00 37.00
Firefighter/EMT-Basics 5.00 5.00 5.00
Senior Administrative Assistant 0.00 1.00 1.00
TOTAL 64.00 76.00 76.00
Fire Chief (1)
Assistant
Chief (1)
Division Chief Training (1)
Battalion
Chief (3)
Captain (12)
Driver/ Engineer (12)
Firefighter Paramedic (37)
Firefighter EMT-Basic (5)
Division Chief EMS (1)
Senior Administrative Assistant (1)
Emergency Management Coordinator (1)
Administrative Assistant (1)
30
DEPARTMENT:DIVISION:
Fire Services Marshal
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Inspections (FM=Fire Marshal's Office / BV=Bureau Veritas) FM:1466-BV:680 FM:2939-BV:166 FM:3233-BV:183
Fire Prevention, Total Students and Staff 12,960 13,200 13,608
Total Permits Issued 318 1,256 1,382
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Businesses Inspected Annually 97%98%99%
Fire Prevention, Total Students and Staff 100%100%100%
Total Permits Issued 100.00%100.00%100.00%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 545,198 550,312$ $ 625,496
Operations 78,561 94,152 126,302
Capital - - 87,917
Transfers - - -
VERF Charges for Services 10,035 10,035 12,540
TOTAL $ 633,794 $ 654,499 $ 852,255
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Prosper Fire Marshal's office exists to prevent and reduce the incidents of fire by increasing the awareness and knowledge of
the citizens of Prosper through fire prevention and life safety.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Providing fire prevention services through public education programs and regular life safety inspections of
businesses and places of assembly.
• Providing fire investigative services to determine the origin and cause of fires.
• Enforcing fire and life safety codes through plan reviews for new construction, remodeling, and occupancy changes
in commercial buildings.
• Providing public education services emphasizing fire safety.
• Monitor and plan accordingly for the rapid growth while meeting the immediate needs and planning for the future
to maintain the highest level of excellence.
31
DEPARTMENT:DIVISION:
Fire Services Marshal
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 1.00 1.00 1.00
Deputy Fire Marshal 1.00 1.00 1.00
Fire Marshal 1.00 1.00 1.00
Fire Inspector/Investigator 1.00 1.00 2.00
TOTAL 4.00 4.00 5.00
Fire Chief
Fire Marshal
Deputy Fire Marshal
Fire Inspector/ Investigator
(2)
Administrative Assistant
32
DEPARTMENT:DIVISION:
Development Services Building Inspections
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Total permits issued 3,282 4,000 3,500
Single Family permits issued 897 900 1,000
Inspections performed 36,849 37,000 37,000
Plan reviews completed 4,284 4,200 4,400
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
% of residential reviews that are re-reviews 30%30%30%
Ensure that all inspections are completed on a daily basis (no roll overs)100%100%100%
Have ICC certified or TSBPE licensed staff completing tasks at each step in
permitting process (inspections, plan review, and front-counter services)67%58%75%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 1,717,493 2,178,177$ $ 2,159,637
Operations 252,364 470,334 458,265
Capital 34,887 - -
Transfers - - -
VERF Charges for Services 28,248 28,248 21,066
TOTAL $ 2,032,992 $ 2,676,759 $ 2,638,968
TOWN OF PROSPER
PROGRAM DESCRIPTION
Building Inspections is a Division of the Department of Development Services. The Division provides professional services to ensure
the safety and welfare of the general public by enforcing building, electrical, plumbing and mechanical codes and ordinances within
the Town. The Division’s personnel conduct plan review prior to the issuance of a permit and on-site inspections to verify code
compliance throughout the construction process.
VISIONING PRIORITIES AND OBJECTIVES
Town of Prosper Visioning Priorities for 2023:
•Continue to provide excellent municipal services. By continuing to complete all requested inspections on a daily basis, by working to
increase the number of first time approvals during plan review by providing contractors with the necessary tools and information to
be successful, and by striving to increase the number of ICC certified personnel on staff, Building Inspections looks to improve upon
the level of service we are able to provide on a year over year basis.
33
DEPARTMENT:DIVISION:
Development Services Building Inspections
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Building Inspector 7.00 7.00 7.00
Building Official 1.00 1.00 1.00
Chief Building Inspector 1.00 1.00 1.00
Permit Technician 3.00 3.00 3.00
Permit Technician Manager 1.00 1.00 1.00
Plans Coordinator 1.00 1.00 1.00
Plans Examiner 3.00 3.00 3.00
Plans Examiner Manager 1.00 1.00 1.00
Project Coordinator/Specialist 0.00 0.00 0.00
Senior Adminstrative Assistant 0.00 0.00 0.00
Senior Building Inspector 2.00 2.00 2.00
Senior Plans Examiner 0.00 0.00 0.00
TOTAL 20.00 20.00 20.00
Director of Development Services
Building Official
Chief Building Inspector
Senior Building Inspector (2)
Building Inspector (7)
Permit TechnicianManager
Plans Coordinator
Permit Technician (3)
Plans Examiner Manager
Plans Examiner (3)
34
DEPARTMENT:DIVISION:
Development Services Health & Code Compliance
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Courtesy notices sent to property owners 1,040 1,080 1,500
Citations issued 60 50 40
Heath Inspections, including new and reinspection's 560 650 680
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Inspect all annual food establishments twice per year 90%90%90%
Respond to and investigate complaints within same day or within 24 hours 90%95%95%
Proactively notify all property owners along major and minor thoroughfares
seeking compliance of the high grass and weeds ordinance 90%95%95%
As part of the annual registration and inspection program, require
abatement/corrections of multifamily inspection issues within 15 days 90%85%90%
TOWN OF PROSPER
PROGRAM DESCRIPTION
Code Compliance is a division of the Department of Development Services and provides services to maintain and promote the
health, safety, welfare, and property values in Prosper. Staff strives to achieve voluntary compliance of the various land use and
nuisance codes through consistent education with all stakeholders while applying codes failrly. The Health component of the
Division works with all food establishments, child care facilities, schools, mobile food vendors and operators of public/semi-public
pools, spas, and PIWF's to ensure the safety and cleanliness of the facilities. Eliminating risk factors that contibute to food borne
illness is the goal of performing regular risk based health inspections.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - The development of Downtown Prosper as a destination.
• Strive to ensure fundamental codes are enforced that will enhance and increase appeal for residents, visitors, and businesses.
• Maintain an equitable, expeditious, and effective common sense approach of enforcing town codes and ordinances
• Continue to recommend modifications and enhancements to town codes and ordinances that will improve beautification efforts.
Town Council Strategic Visioning Priority - Ensuring that the Town's commercial corridors are ready for development.
• Prioritizing main corridors and thoroughfares to promote pride, cleanliness and enhance landscaping improvements through
inspections.
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Continue to provide onsite food safety training, pool operation, safety and education during various types of Health Inspections and
Follow Ups.
• Create and promote the use of door hangers for High Weeds and Grass as an educational tool to increase awareness and
voluntary compliance.
•Maintain customer friendly and personal Town services.
35
DEPARTMENT:DIVISION:
Development Services Health & Code Compliance
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 313,537 372,303$ $ 421,090
Operations 138,900 172,608 182,649
Capital 38,528 - -
Transfers - - -
VERF Charges for Services 7,851 11,638 15,324
TOTAL $ 498,816 $ 556,549 $ 619,063
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Code Compliance Officer 2.00 3.00 3.00
Health and Code Compliance Officer 1.00 1.00 1.00
Health and Code Manager 1.00 1.00 1.00
TOTAL 4.00 5.00 5.00
Director of Development Services
Health and Code Manager
Code Compliance Officer (3)
Health and Code Compliance Officer
36
DEPARTMENT:DIVISION:
Development Services Planning
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Development Cases 144 136 150
Zoning Cases 23 20 20
Number of pre-apps on future development 81 68 76
Number of incomplete submittals due to completness and quality review 38 65 50
Number of redevelopment applications such as NEZ & DRRP - - -
Number of amendments to the zoning and subdivision ordinance, and other
ordinances and plans to stay current with trends and desired standards.2 5 5
TOWN OF PROSPER
PROGRAM DESCRIPTION
Planning is a division of the Department of Development Services and provides professional expertise in the areas of planning,
zoning, land use and strategic decision-making to elected and appointed officials,Town management, citizens, and developers to
ensure the future quality of life in the Town of Prosper.Primary responsibilities of the Planning staff include implementing the
Comprehensive Plan, the Zoning Ordinance, and the Subdivision Ordinance to achieve the desired objectives of the Town. The
division responds to development-related requests, facilitates the development application process and is responsible for developing
reports and recommendations to the Town Council, the Planning &Zoning Commission, and the Board of Adjustment. These
requests include applications for Zoning changes, Subdivision Plats, Site Plans and Variances.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Provide exceptional reviews on any new development.
• Have a strong working partnership with Prosper ISD.
• Update Town's standards and codes to upkeep with current trends.
• Continue to provide town services for continuous improvement, best practices and benchmarking.
Town Council Strategic Visioning Priority - Ensure the Town's commercial corridors are ready for development.
• Develop the Dallas North Tollway corridor consistent with the Vision and Master Plan.
• Develop corridors linking major development nodes.
• Maintain high-quality development consistent with Town’s standards and codes.
• Ensure that new development is attractive and creates or enhances Prosper’s sense of place.
Town Council Strategic Visioning Priority - Development of Downtown Prosper as a destination.
• Revitalize Prosper Downtown consistent with the Vision and Master Plan.
• Maintain high-quality development consistent with Town’s standards and codes.
• Encourage redevelopment within the Downtown.
• Ensure that new development is attractive and creates or enhances Prosper’s sense of place.
37
DEPARTMENT:DIVISION:
Development Services Planning
TOWN OF PROSPER
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Review completeness and quality applications within 48 hours of submittal. 90%95%95%
Review all 1st round of submittals within 7 days. 75%85%85%
Return pre-app meetings notes within a week. 75%85%85%
Place Development submittals on Planning & Zoning Commission agenda within
30 days of receipt of application 75%85%85%
Place Zoning submittals on Planning & Zoning Commission agenda within 60
days of receipt of application 45%50%50%
Return phones calls/emails within 24 hours 85%85%85%
Continuing education/training for staff development to provide enhanced services
to other departments/public.50%50%50%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $537,346 $776,621 $757,104
Operations 166,293 127,421 103,450
Capital - - -
Transfers - - -
VERF Charges for Services 1,320 1,946 1,386
TOTAL $704,959 $905,988 $861,940
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Director of Development Services 1.00 1.00 1.00
Landscape Development Planner 1.00 1.00 1.00
Planner 1.00 1.00 1.00
Planning Manager 1.00 1.00 1.00
Planning Technician 1.00 1.00 1.00
Senior Administrative Assistant 1.00 1.00 1.00
Senior Planner 1.00 1.00 1.00
TOTAL 7.00 7.00 7.00
38
DEPARTMENT:DIVISION:
Development Services Planning
TOWN OF PROSPER
Director of Development Services
Senior Adminstrative Assistant Planning Manager
Senior Planner
Planner
Landscape Development Planner
Planning Technician
39
DEPARTMENT:DIVISION:
Public Works Streets
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Number of Work Orders 811 1,028 980
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Repair street signs & regulatory signage within four hours of initial contact 90%90%95%
Respond to icy road conditions within two hours 100%100%100%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 947,100 967,465$ 1,133,820$
Operations 2,115,918 2,383,437 2,357,650
Capital 7,377 162,010 -
Transfers 826,888 - -
VERF Charges for Services 62,856 62,856 59,910
TOTAL $ 3,960,139 $ 3,575,768 $ 3,551,380
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Streets Division is responsible for the repair and maintenance of streets, sidewalks, alleys, and signage. The Division rebuilds
asphalt streets, makes minor street and alley repairs, builds and repairs sections of sidewalk and curbs, sweeps streets, and sands
driving surfaces during icy weather. The Streets Division also provides the electrical expenditures associated with providing street
lights within Town limits.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services
• By having and retaining a "top quality" Town workforce with competitive compensation; having a Town organizational culture that
values innovation, productivity, responsibility, and accountability and empowers managers and employees; and providing exceptional
Town services responsive to the needs of our Prosper community and our residents. Privide and manage traffic during special
events and provide public services messages. Ensure proper operation of school zone flashers and speed boards by maintenace
and repair.
40
DEPARTMENT:DIVISION:
Public Works Streets
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Crew Leader- Streets 2.00 2.00 2.00
Heavy Equipment Operator 2.00 2.00 2.00
Utility Worker 3.00 3.00 4.00
Signal/Sign Supervisor 1.00 1.00 1.00
Crew Leader- Traffic 1.00 1.00 1.00
Signs and Markings Technician 0.00 0.00 1.00
Street Superintendent 1.00 1.00 1.00
Street Supervisor 1.00 1.00 1.00
TOTAL 11.00 11.00 13.00
Director of Public Works
Street Superintendent
Signal/Sign Supervisor
Crew Leader Traffic
Signs and Markings Technician
Street Supervisor
Crew Leader Streets(2)
Heavy Equipment Operator (2)
Utility Worker (4)
41
DEPARTMENT:DIVISION:
Public Works Facilities Management
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Completion of scheduled preventative maintenance like filters and belts. - 100%100%
Completion of maintenance requests and planned projects. - 100%100%
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Completing construction projects and assignments under budget and within
timeframes. - 100%100%
Tracking and completing workorders in a timely manner. - 100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Facilities Management Division was established in Fiscal Year 2017-2018 to consolidate all facility maintenance
functions into one central budget.In order to adequately maintain the facilities and related mechanical systems,the Town
has adopted a full time staff for facilities maintenance.This includes the Facilities Manager,with 3 full time technicians.The
contracted services will include the following: custodial services,pest control services,deep floor cleaning and polishing,
power washing of balconies and parking lots,window washing,HVAC maintenance, generator maintenance, elevator
maintenance,fire extinguisher inspection/maintenance,fire suppression system maintenance, and annual roof inspection
and repair services etc.The FY 2025 budget includes 1 new personnel request for the division,Facilities Maintenance
Technichian. Also added to the budget will be one Construction Manager.
VISIONING PRIORITIES AND OBJECTIVES
1. Acceleration of Infrastructure
• Facilities Management will be working to improve the use and development of the Town’s facilities through the planning and
building of new structures to meet town needs, such as Fire Station #4 and the Public Works/Parks buildings.
• Facilities Management is working to properly maintain and manage current buildings with improved environmental systems
like the four rooftop A/C units on Town Hall, and other repairs in other departments, like the Parks roof and parking area.
2. Development of Downtown as a Destination
• Facilities is going to work with Town staff and other groups to make sure that parking is available in the Town Hall parking lot
for Downtown events.
• Maintain the lighting and parking lots so they are safe and clean with proper lighting.
3. Continue to Provide Excellent Municipal Services
• Providing safe, clean, and comfortable buildings for the public and staff.
• Maintaining internal systems so they are functioning properly at all times as well as minimizing breakdowns.
• Ensuring inspections of elevators and other life safety devices, like sprinkler systems, are kept up to date.
42
DEPARTMENT:DIVISION:
Public Works Facilities Management
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 75,921 115,914$ $ 488,626
Operations 1,132,384 961,347 1,062,986
Capital 58,844 - -
Transfers - 4,894 5,884
TOTAL $ 1,267,149 $ 1,082,155 $ 1,557,496
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Facilities Advanced Maintenance Technician 0.00 1.00 1.00
Facilities Construction Manager 0.00 1.00 1.00
Facilities Maintenance Technician 0.00 1.00 2.00
Facilities Manager 1.00 1.00 1.00
TOTAL 1.00 4.00 5.00
Assistant Town Manager
Facilities Manager
Facilities Advanced Maintenance Technician
Facilities Maintenance Technician (2)
Assistant Town Manager
Director of Engineering Services
Facilities Construction Manager
43
DEPARTMENT:DIVISION:
Community Services Park Administration
ACTIVITY DEMAND / ACTIVITY WORKLOAD
ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Provide adequate park land to meet Towns existing and future needs
(Master Plan LOS 11.25-20.5 acres per 1,000 population)17 17 18
Review of private development Landscape Plans and Tree Preservation plans 804 825 100
EFFICIENCY / EFFECTIVENESS MEASURES
ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Total acres of park land within the Town both developed and undeveloped 634 655 741
Total miles of Town owned trails 61 63 65
EXPENDITURE SUMMARY
ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 683,548 633,772$ $ 880,237
Operations 394,432 818,301 619,188
Capital 143,800 30,000 -
Transfers - 140,000 -
VERF Charges for Services 3,774 3,774 3,555
TOTAL $ 1,225,554 $ 1,625,847 $ 1,502,980
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Park Administration Division oversees and administers all of the Parks and Recreation departmental activities. The division is
also responsible for marketing of the department, programs, activities and special events. They also manage the planning and
construction of parks and trails.The division reviews the landscape, irrigation and tree preservation plans to ensure compliance with
Town ordinances.
VISIONING PRIORITIES AND OBJECTIVES
Continue to Provide Excellent Municipal Services
• Provide long range planning as well as implementation of the Parks and Recreation Master Plan to meet the parks,
trails, and facility needs of the Towns residents.
• Provide park design and construction of parks that meets the needs of the community as well as enhances the
value of the property surrounding the park.
• Continue to pursue funding assistance and grants for park CIP projects.
• Work with the developing community and other organizations to develop our park system.
44
DEPARTMENT:DIVISION:
Community Services Park Administration
TOWN OF PROSPER
PERSONNEL SUMMARY
ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 1.00 1.00 1.00
Assistant Director of Parks and Recreation 0.00 1.00 1.00
Director of Parks and Recreation 1.00 1.00 1.00
Marketing Coordinator 1.00 1.00 1.00
Park Planner 2.50 1.50 0.50
Park Planning Manager/Assistant Director 0.00 0.00 0.00
Senior Park Planner 1.00 1.00 1.00
TOTAL 6.50 6.50 5.50
Director of Parks and Recreation
Marketing Coordinator Assistant Director
Sr Park Planner
Administrative Assistant Park Planner (PT)
45
DEPARTMENT:DIVISION:
Community Services Park Operations
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Maintain and prepare game and practice facilities to meet the local sports league
needs for available space (number of participants)9,700 10,200 10,700
Acres of park land maintained 320 335 421
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Maintain playgrounds that meet the latest American Society for Testing and
Materials (ASTM) and Consumer Product Safety Commission (CPSC) guidelines 100%100%100%
Work with outside groups who perform service projects to minimize staff time or
provide additional items (Goal: 2 projects per year)4 4 3
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 1,800,658 2,219,690$ $ 2,530,361
Operations 1,519,539 1,726,339 2,408,237
Capital - 242,797 103,312
Transfers - - -
VERF Charges for Services 125,864 125,864 119,307
TOTAL $ 3,446,061 $ 4,314,690 $ 5,161,217
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Park Operations Division manages the maintenance of the Town's parks, medians,trails,and open spaces. The Division also
prepares sports fields for practices, games, tournaments and assists with special events.
VISIONING PRIORITIES AND OBJECTIVES
The Development of Downtown as a Destination
• Continuing to maintain the Town’s landscape and open space at a high level
• Continuing to support Town eventsContinue to Provide Excellent Municipal Services
• Continuing to maintain the Town’s landscape and open space at a high level
• Continuing to support Town events
46
DEPARTMENT:DIVISION:
Community Services Park Operations
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Chemical Crew Leader 1.00 1.00 1.00
Chemical Technician 3.00 4.00 4.00
Crew Leader 2.00 3.00 3.00
Crew Leader/Shop Mechanic 1.00 1.00 1.00
Heavy Equipment Operator 4.00 5.00 5.00
Irrigation Crew Leader 1.00 1.00 1.00
Irrigation Technician 1.00 1.00 2.00
Maintenance Worker 9.00 10.00 10.00
Parks Superintendent 1.00 1.00 1.00
Assistant Parks Superintendent 0.00 0.00 1.00
Parks Operations Supervisor 1.00 1.00 1.00
Playground Technician 1.00 1.00 1.00
Administrative Assistant 1.00 1.00 1.00
TOTAL 26.00 30.00 32.00
Director of Parks and Recreation
Parks Superintendent
Administrative Assistant Crew Leader
Playground Technician
Maintenance Worker(4)
Irrigation Crew Leader
Irrigation Technician (2)
Maintenance Worker(2)
Asst Park Supt
Supervisor
Chemical Crew Leader
Chemical Technician(4)
Crew Leader
Maintenance Worker (2)
Crew Leader
Maintenance Worker
Crew Leader/Shop Mechanic
Heavy Equipment Operator (5)
Maintenance Worker
47
DEPARTMENT:DIVISION:
Community Services Park Recreation
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Recreation income* $ 296,596 $ 247,312 $ 300,000
Number of classes and programs offered throughout the year 137 145 153
Attendance of annual Town events (Contract partnered events not included) 12,500 13,600 15,500
Annual Pavilion rentals*108 95 115
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Percent of classes/programs that meet attendance requirement 88%87%90%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 253,776 349,119$ $ 293,011
Operations 442,458 411,336 447,386
Transfers - - -
VERF Charges for Services - - -
TOTAL $ 696,234 $ 760,455 $ 740,397
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Park Recreation Division provides programs, activities, and special events that meet the needs of the residents. They also
manage field and pavilion rentals, and assist sports groups in scheduling.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority – Continue to provide excellent municipal services
Town Council Strategic Visioning Priority – The development of Downtown Prosper as a destination
• Increase participation in programs and recreation opportunities.
• Offer indoor programming in Town Hall and the 407 Rec Center.
• Creating partnerships to offer additional programming space for growing programs.
• Offer well attended community events, with new and original activities to increase participation. Adding a 5K, New Resident Mixers
and enhancing current events
• Enhance health and wellness of our community with yearlong Mayor's Fitness Challenge
• Offer new opportunities for Active Adult programming.
• Offer Downtown community events to help increase foot traffic to the Downtown businesses.
• Offer adaptive programs and events for families with children with special needs
• Working together with Downtown businesses to provide recreation programs for the community
48
DEPARTMENT:DIVISION:
Community Services Park Recreation
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Recreation Specialist 1.00 1.00 1.00
Recreation Coordinator - Programs 1.00 1.00 1.00
Recreation Coordinator - Events 1.00 0.00 0.00
Recreation Manager - Events 0.00 1.00 1.00
Recreation Manager 1.00 1.00 1.00
Recreation Attendant - Seasonal 0.00 0.50 0.50
TOTAL 4.00 4.50 4.50
Director of Parks and Recreation
Recreation Manager -Events Recreation Manager
Recreation Specialist
Recreation Coordinator-Programs
Recreation Attendant
49
DEPARTMENT:DIVISION:
Community Services Library
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Library visits 56,507 58,000 60,000
Items circulated 125,172 130,000 140,000
Program attendance 10,966 11,000 12,000
Library card holders 12,197 10,000 11,000
Collection Size (Digital)35,000 750,000 750,000
Collection Size (Physical)29,262 32,000 34,000
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
*Population 35,430 38,540 42,598
Library Card holders as a % of population 34%26%26%
Circulation per capita 3.50 3.40 3.30
Library visits per capita 1.60 1.5 1.4
Holdings per capita (Digital)0.99 19.5 17.6
Holdings per capita (Physical)0.83 0.83 0.80
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 630,367 734,129$ $ 808,759
Operations 108,353 125,943 154,640
Capital - - -
Transfers - - -
VERF Charges for Services 809 809 788
TOTAL $ 739,529 $ 860,881 $ 964,187
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Prosper Community Library is a primary resource for the Prosper area, and all citizens shall benefit from the highest-quality
resources for learning and enjoyment.Visitors of the library will find a well-maintained library which will be welcoming and
encouraging. They will experience a vital and customer friendly environment that features a diverse and comprehensive collection.
Along-side the books, visitors will find movies, audiobooks, and technology available in the latest formats. Bright lighting, comfortable
seating, and organized shelves will make browsing easy and tempting. The library will be a friendly place, one to meet friends, make
friends, and participate in cultural activities.
VISIONING PRIORITIES AND OBJECTIVES
Continue to provide excellent municipal services.
50
DEPARTMENT:DIVISION:
Community Services Library
TOWN OF PROSPER
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 0.50 1.00 1.00
Library Assistant 3.50 2.00 3.00
Library Clerk 1.50 3.00 2.50
Library Director 1.00 1.00 1.00
Technical Services Coordinator 1.00 1.00 1.00
Youth Services Librarian 1.50 1.50 1.50
TOTAL 9.00 9.50 10.00
Library Director
Youth Services Librarian (FT) 1
Technical Services Coordinator (FT)
Youth Services Librarian (PT) .5 Library Clerk (PT) 2.5
Library Assistant (FT) 3
Administrative Assistant (FT)
51
DEPARTMENT:DIVISION:
Engineering Engineering
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Number of plan reviews for developments and subdivisions to construction 393 700 600
Conduct and document daily inspection of all CIP and Town Infrastructure
improvements* 7,500 7,500 7,500
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Review all development plans submitted within 10-day turnaround 67%75%90%
Meet all benchmark schedules for design, land acquisition, utility relocation and
construction for CIP projects 85%90%92%
Respond to contractors request for information within 3 working days 98%98%98%
Approve monthly pay applications within 5 days of satisfactory submittal 98%98%99%
Complete daily inspection reports on all Town CIP projects 100%100%100%
*Estimate based on 10 inspections per person x 250 days per year. Actual number of inspections will be tracked with implementation
of Energov software.
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Town of Prosper Engineering Services Department provides full project management services for the planning, design, and
construction of all Town-funded projects and provides review services for all privately-funded projects.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priorities 2023
1. The acceleration of infrastructure
* Review all development plans submitted within 10-day turnaround
* Meet all benchmark schedules for design, land acquisition, utility relocation and construction for CIP projects
2. The development of Downtown Prosper as a destination
3. Ensuring that the Town's commercial corridors are ready for development
4. Continue to provide excellent municipal services
* Respond to contractors request for information within 3 working days
* Approve monthly pay applications within 5 days of satisfactory submittal
* Complete daily inspection reports on all Town CIP projects
5. Work towards a growing and diversified tax base
52
DEPARTMENT:DIVISION:
Engineering Engineering
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 2,281,616 2,455,855$ $ 2,415,611
Operations 526,918 230,446 143,675
Capital - - -
Transfers 8,780,485 - -
VERF Charges for Services 12,734 13,359 13,512
TOTAL $ 11,601,753 $ 2,699,660 $ 2,572,798
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 0.50 0.50 0.50
Assistant Director of Engineering Services - Capital Projects 1.00 1.00 1.00
Assistant Director of Engineering Services - Development 1.00 1.00 1.00
CIP Facilitator 1.00 1.00 1.00
CIP Program Manager 1.00 1.00 1.00
Civil Engineer 2.00 2.00 2.00
Construction Superintendent 3.00 3.00 3.00
Director of Engineering Services 1.00 1.00 1.00
Engineering Technician 2.00 2.00 2.00
Assistant Town Manager 1.00 1.00 0.00
Senior Engineer 3.00 3.00 3.00
Senior Traffic Engineer 0.00 0.00 1.00
TOTAL 16.50 16.50 16.50
Assistant Town Manager
Director of Engineering Services
Assistant Director-Capital Projects
CIP Program Manager
Construction Superintendent (3)
Senior Engineer (2) Civil Engineer CIP Facilitator
Administrative Assistant (PT)
Senior Traffic Engineer
Assistant Director-Development
Engineering Technician (2)
Senior Engineer
Civil Engineer
53
54
UTILITY FUNDS
Utility Funds Description
The Water and Wastewater Fund accounts for all costs in providing water and wastewater services to residential
and commercial utility customers. The operations necessary to provide such services include Administration, Debt
Services, Water Purchases, and the treatment of wastewater. The operations of the Water and Wastewater Fund
are financed and operated in a manner similar to a private business enterprise where expenses (including
depreciation) of providing services are recovered primarily through user charges.
The Solid Waste Fund accounts for all costs in providing solid waste services to residential and commercial
customers. The operations necessary to provide such services include Administration and Trash Collection Services.
The operations of the Solid Waste Fund are financed and operated in a manner similar to a private business
enterprise where expenses (including depreciation) of providing services are recovered primarily through user
charges.
The Town's Stormwater Drainage Division is managed in a coordinated fashion by both the Town's Engineering and
Public Works Departments. Engineering selects consultants and contractors to design and construct major repairs
and improvements to the Town's stormwater systems, and reviews flood studies and drainage plans to ensure
conformance with Federal, State and Town codes. Public Works' stormwater and drainage crews maintain all
improved and unimproved drainage facilities within the Town to ensure the free flow of stormwater and to
minimize the probability of structure flooding. The Stormwater Drainage Division also administers the Phase II
Municipal Separate Stormwater System (MS4) Permit by implementing and managing programs to improve water
quality in accordance with regulatory requirements through public education, eliminating illicit discharges, and
control of construction site runoff.
An annual cash transfer from the Utility Funds to the General Fund is made for payment of administrative
overhead costs incurred. Administrative services, such as operations management, financial management,
purchasing, and payroll are included in this overhead charge.
3
Revenue Category
Water &
Wastewater Solid Waste Stormwater
Drainage
Charges for Services 39,145,130 3,295,173 950,000
License, Fees & Permits 377,705 - -
Penalties 186,900
Investment Income 450,000 4,500 8,000
Miscellaneous 3,284,690 - 3,500
Revenue Total $ 43,444,425 $ 3,299,673 $ 961,500
Other
Utility Funds Revenues
By Source
Water & Wastewater
91%
Solid Waste
7%
Stormwater
Drainage
2%
4
Category FY 2025 Adopted % of Total
Administration 2,674,755 6.3%
Public Works 9,601,940 22.5%
Debt Service 7,226,188 16.9%
Water Purchases 13,563,295 31.7%
Sewer Management 5,270,599 12.3%
Trash Collection Svcs. 2,830,789 6.6%
Transfers Out 1,376,336 3.2%
Capital 225,000 0.5%
Appropriation Total $ 42,768,902 100.0%
Utility Funds Appropriations
By Department
FY 2025 Adopted - $42,768,902
FY 2024 Amended - $43,823,667
Administration
5.8%
Public Works
22.6%
Debt Service
17.0%Water Purchases
31.9%
Sewer
Management
12.4%
Trash Collection
Svcs.
6.7%
Transfers Out
3.2%
Administration
5.0%
Public Works
20.9%
Debt Service
11.7%
Water Purchases
28.6%
Sewer
Management
11.3%
Trash Collection
Svcs.
6.5%
Transfers Out
16.0%
5
Fiscal Year Days Over Minimum Reserve Value of Each Day %
2020-2021 127 76,857$ 35.17%
2021-2022 106 94,564$ 29.51%
2022-2023 130 78,273$ 31.45%
2023-2024 172 87,272$ 40.06%
2024-2025 180 97,857$ 40.11%
Water and Wastewater Fund
Net Assets
The Town shall strive to maintain a minimum ending working capital balance (current assets minus current
liabilities)of at least twenty-five percent (25%)of budgeted non-capital expenditures for each of the
proprietary funds. Net assets fluctuate based on user based charges and one-time capital needs,while
maintaining a minimum working capital.
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
$20,000,000
2020-2021
Actual
2021-2022
Actual
2022-2023
Actual
2023-2024
Amended Budget
2024-2025
Adopted
6
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING
YEAR
2025-2026
PLANNING
YEAR
2026-2027
PLANNING
YEAR
2027-2028
PLANNING
YEAR
2028-2029
REVENUES Water Charges for Services 16,958,387 23,114,755 21,670,066 24,470,841 27,941,917 31,628,653 35,605,227 39,830,614
Wastewater Charges for Services 9,434,936 11,892,552 11,356,639 14,674,289 18,060,258 21,685,117 25,631,040 27,404,275
Sanitation Charges for Services - - - - - - - -
License, Fees & Permits 418,257 377,705 400,910 377,705 396,590 416,420 437,241 459,103
Water Penalties 203,069 186,900 189,662 186,900 192,507 198,282 204,231 210,358
Utility Billing Penalties - - - - - - - -
Investment Income 418,090 350,000 510,435 450,000 350,000 350,000 350,000 350,000
Other 586,652 3,494,342 2,541,926 3,284,690 912,198 886,593 859,824 831,835
TOTAL REVENUES 28,019,390$ 39,416,254$ 36,669,638$ 43,444,425$ 47,853,470$ 55,165,065$ 63,087,562$ 69,086,184$
EXPENDITURES Administration 919,857 1,084,507 1,077,719 1,063,187 1,073,819 1,106,033 1,139,214 1,173,391
Debt Service 4,434,036 4,610,464 4,867,843 6,753,424 9,478,344 11,163,424 13,240,498 13,234,961
Franchise Fee Expense 485,400 689,851 990,801 1,136,854 1,342,565 1,561,913 1,799,588 1,979,547
Trash Collection Services 4,460 - - - - - - -
Water Purchases 9,729,332 12,704,415 11,917,232 13,563,295 15,779,849 18,824,680 22,434,201 26,058,383
Sewer Management Fees 3,878,571 4,560,895 4,712,435 5,270,599 6,055,340 6,898,878 7,402,486 8,108,469
Public Works 5,663,217 8,280,213 8,687,911 9,601,940 9,658,807 10,106,638 10,628,328 11,168,578
Future Staffing - - - - 576,720 1,005,984 1,662,814 2,096,763
TOTAL EXPENDITURES 25,114,874$ 31,930,345$ 32,253,941$ 37,389,299$ 43,965,444$ 50,667,550$ 58,307,130$ 63,820,092$
Net Income (Loss)2,904,517$ 7,485,909$ 4,415,697$ 6,055,126$ 3,888,026$ 4,497,515$ 4,780,432$ 5,266,093$
OTHER FINANCING Transfers In - - - - - - - -
Transfers Out (1,165,093) (6,021,650) (3,475,000) - - - - -
Loan to Solid Waste Fund - (2,050,000) (2,000,000) - - - - -
Transfer Out G&A (1,127,339) (1,183,707) (1,183,707) (1,218,340) (1,230,523) (1,267,439) (1,305,462) (1,344,626)
TOTAL OTHER FINANCING SOURCES (USES)(2,292,432)$ (9,255,357)$ (6,658,707)$ (1,218,340)$ (1,230,523)$ (1,267,439)$ (1,305,462)$ (1,344,626)$
CHANGE IN FUND BALANCE 612,084$ (1,769,448)$ (2,243,010)$ 4,836,786$ 2,657,503$ 3,230,076$ 3,474,970$ 3,921,466$
BEGINNING FUND BALANCE 11,773,260$ 11,488,750$ 12,385,344$ 10,142,334$ 14,979,120$ 17,636,623$ 20,866,698$ 24,341,668$
ENDING FUND BALANCE 12,385,344$ 9,719,302$ 10,142,334$ 14,979,120$ 17,636,623$ 20,866,698$ 24,341,668$ 28,263,135$
1.25 times Debt Service Reserve Limit 1.40 2.37 1.66 1.72 1.28 1.29 1.26 1.30
AMOUNT OVER (UNDER) IN DAYS OPERATING COST 207 124 130 172 180 187 192 199
Fund balance policy 25%49%30%31%40%40%41%42%44%
Water and Wastewater Fund Summary
7
Water and Wastewater Fund Overview
Water and
Wastewater Fund
Administration
Utility Customer
Service
Non-Departmental
Public Works
Water
Wastewater
Construction
Inspections
8
DEPARTMENT: Utility Customer Service DIVISION:
Administration Utility Customer Service
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Create/process work orders (annually)19,127 22,241 23,000
Average payments by auto draft (monthly)3,546 4,370 5,500
Average payments by credit card draft (monthly)802 940 1,020
Online payments (website) (annually)22,203 24,113 25,250
Lockbox payments (monthly)2,490 2,473 3,660
New connects (annually)3,123 3,125 3,400
Disconnections for non-payment (annually)*201 650 650
Number of customers billed (monthly average)12,400 13,340 14,500
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Manually entered utility billing payments without errors 100%100%100%
Utility bills created before the 20th of each month 100%100%100%
Disconnections at beginning of month (30 days past due) 0.01%0.01%0.01%
TOWN OF PROSPER
PROGRAM DESCRIPTION
Provide accurate monthly billing to Prosper residents and businesses for water, wastewater,solid waste, and recycling services.
This department is also responsible for initiating, transferring, and terminating services, processing adjustment requests, winter
average adjustment, account maintenance, and the processing of work orders and collection services. This includes posting
payments to customer's account, issuing NTTA tags to customers, and organizing the annual Spring Clean Up. Participating in the
New Residential event every 6 months.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Provide first rate utility customer service.
• Customer Service Representative will have all necessary information on hand to answer and meet our customers needs.
• Keep accurate records of all water, wastewater, and solid waste accounts billed for the Town of Prosper.
9
DEPARTMENT: Utility Customer Service DIVISION:
Administration Utility Customer Service
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel 368,238$ 407,749$ 422,731$
Operations 507,424 484,401 476,601
Capital - - -
Transfers 53,557 53,557 53,557
VERF Charges for Services 2,594 2,594 1,825
TOTAL 931,813$ 948,301$ 954,714$
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Utility Customer Service Administrator 1.00 1.00 1.00
Utility Customer Service Supervisor 1.00 1.00 1.00
Utility Customer Service Clerk 3.00 3.00 3.00
TOTAL 5.00 5.00 5.00
Finance Director
Utility Customer Service Administrator
Utility Customer Service Supervisor
Utility Customer Service Clerks (4)
10
DEPARTMENT:DIVISION:
Administration Non-Departmental
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel/(Projected Fund Salary Savings) $ - 51,696$ $ (87,280)
Operations (79,750)881,475 1,046,352
Capital - - -
Transfers 50,000 - -
Debt 4,679,886 4,266,196 4,443,033
Bond Issuance (2,715,995) 344,268 2,310,391
VERF Charges for Services - - -
TOTAL $ 1,934,141 $ 5,543,635 $ 7,712,496
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Non-Departmental budget supports the Town's property insurance,a franchise fee paid to the General Fund for cost of
administrative services, and the debt service payments for the Water and Sewer fund. Projected salary savings for the Water and
Sewer Fund are also accounted for in this division.
11
DEPARTMENT:DIVISION:
Public Works Water
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Work order total 14,327 15,170 16,098
Overall water consumption (gallons per capita per day)240 240 241
Surface water pumped 3,397,891,000 3,907,574,650 4,493,710,848
Water flushed in million gallons 468,921,814 468,908,958 539,245,302
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Provide Superior Water System from Texas Commission on Environmental
Quality (TCEQ)100%100%100%
Maintain TCEQ mandated water sampling and testing 100%100%100%
Reduce the total time to repair water leaks to less than five (5) hours and
respond to water leaks within thirty (30) minutes of initial contact 98%98%98%
Maintain the total unaccounted water under 12%100%100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Water Division is responsible for the operation, repair, and maintenance of all water lines, meters,valves,and fire hydrants. The
Division performs daily water sampling required by the State of Texas to maintain a superior water quality rating for the residents of
Prosper. The Town of Prosper purchases treated water from North Texas Municipal Water District (NTMWD).The water is stored in
two ground storage tanks and two elevated storage tanks until it is pumped through pipes to customers.The Prosper Water
Education program involves a combination of water use reduction strategies.Initiatives of the program include workshops and training
opportunities for homeowners.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• By having and retaining a "top quality" Town workforce with competitive compensation; having a Town organizational culture that
values innovation, productivity, responsibility, and accountability and empowers managers and employees; and providing exceptional
Town services responsive to the needs of our Prosper community and our residents. Provide a "Superior Quality" rated water system.
Provide timely maintenance of water system by inspecting and repairing 50% of all fire hydrants annually. Maintain efficent meter
reading by completing repairs as needed. Offer free educational opportunities, including Sprinkler Evaluations, plantlife education,
and irrigation eduation to our residents for water conservation.
12
DEPARTMENT:DIVISION:
Public Works Water
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 2,344,635 2,787,260$ $ 3,241,825
Operations 12,582,123 14,488,519 16,419,014
Capital 350,979 271,592 124,505
Transfers 809,472 6,066,545 900,473
Debt - 2,000,000 -
VERF Charges for Services 117,445 141,249 182,889
TOTAL $ 16,204,654 $ 25,755,165 $ 20,868,706
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Administrative Assistant 1.00 1.00 1.00
Backflow Inspector 1.00 2.00 2.00
Crew Leader 5.00 4.00 5.00
Director of Public Works 1.00 1.00 1.00
Environmental Coordinator/Assistant to Director 1.00 1.00 1.00
Heavy Equipment Operator 3.00 3.00 4.00
Irrigation Specialist 1.00 1.00 1.00
Public Works Right-Of-Way Inspector 1.00 1.00 1.00
Senior Backflow Inspector 1.00 1.00 1.00
Senior Systems Technician 1.00 1.00 1.00
Senior Water Quality Technician 1.00 1.00 1.00
Systems Technician 0.00 1.00 1.00
Utility Maintenance Supervisor 2.00 2.00 2.00
Utility Worker 8.00 7.00 8.00
Water and Wastewater Superintendent 1.00 1.00 1.00
Water Education Coordinator 1.00 1.00 1.00
Water Quality Technician 3.00 3.00 3.00
TOTAL 32.00 32.00 35.00
13
DEPARTMENT:DIVISION:
Public Works Water
TOWN OF PROSPER
Director of Public Works
Water/Wastewater Superintendent
Utility Maintenance Supervisor
Public Works Right-Of-Way Inspector
Sr. Systems
Techncian
System
Technician
Sr. Water Quality Technician
Water Quality
Technician (3)
Crew Leader
Heavy Equipment Operator
Utility Worker(2)
Utility Maintenance Supervisor
Crew Leader(5)
Heavy Equipment Operator(3)
Utility Worker(6)
Senior Backflow Inspector
Backflow Inspector (2)
Administrative Assistant
Environmental Coordinator/ Assistant to Director
Irrigation Specialist
Water Education
Coordinator
14
DEPARTMENT:DIVISION:
Public Works Wastewater
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Public works inspections 2,654 2,144 1,797
Feet of wastewater lines inspected by camera 196,247 186,914 184,992
Work Orders/ Inspections/ Line Locates 2,659 2,471 2,585
Sanitary Sewer Overflows 4 0 0
Fats, Oils, and Grease (FOG) Inspections 675 765 824
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Clean and CCTV 10% of the wastewater collection system 100%100%100%
Minimize reportable wastewater discharges to Texas Commission on
Environmental Quality (TCEQ)98%100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Wastewater Division is responsible for the collection of wastewater and its transmission to the wastewater treatment plants. This
service includes the operation, maintenance, and repair of all wastewater lines, manholes, and lift stations connected to the system.
North Texas Municipal Water District (NTMWD)and Upper Trinity Regional Water District (UTRWD)operate the wastewater
treatment plants. The Prosper Fats,Oils,and Grease (FOG)Program involves the inspection of grease traps and the education of
residents and businesses connected to our wastewater collection system. Initiatives of the program include educational materials,
one-on-one interaction, and best management practices for business owners. Public Works Inspections includes inspections of all
infrastructure for private development prior to acceptance and Certificate of Occupancy issuance.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority- Continue to provide excellent municipal services.
• By having and retaining a "top quality" Town workforce with competitive compensation; having a Town organizational culture that
values innovation, productivity, responsibility, and accountability and empowers managers and employees; and providing exceptional
Town services responsive to the needs of our Prosper community and our residents. Reduce the number of Sanitary System
Overflows (SSO) to less than five every year. Implement Fats, Oils, and Grease (FOG) policies to reduce SSO's and provide
programs for citizen awareness.
15
DEPARTMENT:DIVISION:
Public Works Wastewater
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 967,635 1,211,625$ $ 1,301,329
Operations 4,767,451 5,804,299 6,390,295
Capital 52,610 - -
Transfers 264,310 1,139,310 264,310
VERF Services for Charges 123,537 123,537 93,443
TOTAL $ 6,175,543 $ 8,278,771 $ 8,049,377
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Crew Leader 4.00 4.00 4.00
FOG Technician 1.00 1.00 1.00
Heavy Equipment Operator 3.00 3.00 3.00
Utility Line Locator 1.00 2.00 2.00
Utility Maintenance Supervisor 1.00 1.00 1.00
Utility Worker 7.00 6.00 6.00
TOTAL 17.00 17.00 17.00
Director of Public Works
Water and Wastewater Superintendent
Utility Maintenance Supervisor
Utility Crew Leader(4)
Heavy Equipment Operator(3)
Utility Worker(6)
Utility Line Locator
(2)
Environmental Coordinator/ Assistant to Director
FOG Technician
16
DEPARTMENT:DIVISION:
Engineering Construction Inspections
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Conduct and document daily inspections of all private development and
Town infrastructure improvements 13,200 13,200 13,200
Preconstruction Meetings Held 31 38 30
Final Acceptance Certicates Issued 20 31 30
Active Projects 57 58 60
Right-of-way (ROW) permits issued 3,140 3,100 3,000
Conduct ROW permitted inspections for private franchise utilities 6,000 6,000 6,000
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Respond to contractors request for information within 3 working days 100%100%100%
Conduct private development inspections within 24 hours of request 85%90%95%
Process ROW permits within 5 working days 90%95%95%
Infrastructure gps'ed before or during final walk 0%0%0%
* Estimated based on (15 inspections per day per inspector x 250 days) x 3.0 + (10 weekend inspections x 40 days x 1
inspector) for FY21-22 and (15 inspections per day per inspector x 250 days) x 3.5 + (10 weekend inspections x 40 days x 1
inspector) for FY22-23
TOWN OF PROSPER
PROGRAM DESCRIPTION
The Construction Inspection Division conducts inspections of all public infrastructure for private development and assists with
capital improvement projects for general conformance with Town standards.The division also oversees right-of-way permitting
and right-of-way inspections of private franchise utility construction.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priorities 2023
1. The acceleration of infrastructure
* Process ROW permits within 5 working days
2. The development of Downtown Prosper as a destination
3. Ensuring that the Town's commercial corridors are ready for development
4. Continue to provide excellent municipal services
* Respond to contractors request for information within 3 working days
* Conduct private development inspections within 24 hours of request
* Infrastructure gps'ed before or during final walk
5. Work towards a growing and diversified tax base
17
DEPARTMENT:DIVISION:
Engineering Construction Inspections
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 516,123 567,478$ $ 605,681
Operations 61,022 78,146 60,290
Capital 72,679 - -
Transfers 3,400,000 - -
VERF Charges of Services 19,522 32,062 17,054
TOTAL $ 4,069,346 $ 677,686 $ 683,025
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Right-Of-Way and Construction Inspection Manager 1.00 1.00 1.00
Senior Construction Inspector 0.00 0.00 1.00
Construction Inspector 3.00 3.00 2.00
Right-Of-Way Inspector 2.00 2.00 2.00
TOTAL 6.00 6.00 6.00
Director of
Engineering
Services
Assistant Director of
Engineering Services -
Development
Right-Of-Way and
Construction
Inspection Manager
Construction
Inspector (2)
Right-Of-Way
Inspector (2)
Senior
Construction
Inspector
18
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING
YEAR
2025-2026
PLANNING
YEAR
2026-2027
PLANNING
YEAR
2027-2028
PLANNING
YEAR
2028-2029
REVENUES Sanitation Charges for Services 2,488,353 2,979,722 3,050,549 3,295,173 3,525,835 3,772,644 4,036,729 4,319,300
Investment Income 2,880 - 5,410 4,500 3,500 3,500 3,500 3,500
Other - - - - - - -
TOTAL REVENUES 2,491,233$ 2,979,722$ 3,055,959$ 3,299,673$ 3,529,335$ 3,776,144$ 4,040,229$ 4,322,800$
EXPENDITURES
Trash Collection Services 2,485,398 2,668,887 2,695,716 2,830,789 3,028,944 3,165,247 3,307,683 3,456,529
Debt Service - 273,000 137,501 257,501 257,501 257,500 257,500 257,501
Capital - 1,955,000 1,955,000 - - - - -
Administration - 67,554 96,447 96,753 101,107 105,657 110,411 115,380
Other - - - - - - - -
TOTAL EXPENDITURES 2,485,398$ 4,964,441$ 4,884,664$ 3,185,043$ 3,387,552$ 3,528,403$ 3,675,594$ 3,829,409$
Period Excess / (Deficit)5,835$ (1,984,719)$ (1,828,705)$ 114,630$ 141,783$ 247,740$ 364,635$ 493,390$
OTHER FINANCING Loan Proceeds 50,000 2,050,000 2,000,000 - - - - -
Transfers Out (49,849) (30,000) - - - - - -
TOTAL OTHER FINANCING SOURCES (USES)152$ 2,020,000$ 2,000,000$ -$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE 5,987$ 35,281$ 171,295$ 114,630$ 141,783$ 247,740$ 364,635$ 493,390$
BEGINNING FUND BALANCE -$ 1,000$ 5,986$ 177,281$ 291,911$ 433,694$ 681,434$ 1,046,069$
ENDING FUND BALANCE 5,986$ 36,281$ 177,281$ 291,911$ 433,694$ 681,434$ 1,046,069$ 1,539,459$
Amount Above/(Below) Fund Balance Reserve of $250,000 (244,014)$ (213,719)$ (72,719)$ 41,911$ 183,694$ 431,434$ 796,069$ 1,289,459$
Solid Waste Fund Summary
19
DEPARTMENT: Utility Customer Service DIVISION:
Administration Solid Waste
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Create/process work orders on complaints for miss pickups (annually)N/A 320 330
Average payments by auto draft (monthly)N/A 4,370 5,500
Average payments by credit card draft (monthly)N/A 940 1,020
Online payments (website) (annually)N/A 24,113 25,250
Lockbox payments (monthly)N/A 2,473 3,660
New connects (annually)N/A 3,100 3,200
Number of customers billed N/A 12,876 12,900
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Manually entered utility billing payments without errors N/A 100%100%
Utility bills created before the 20th of each month N/A 100%100%
TOWN OF PROSPER
PROGRAM DESCRIPTION
Provide accurate monthly billing to Prosper residents and businesses for solid waste services. Ordering new trash and recycle
carts for our residents moving into Prosper. Working with Republic Services to make sure they service our residents trash/recycle
carts in a timely manner. Participate in the yearly Spring Clean event. Processing new/final work orders for trash/recycle services.
Ensure that Republic Services are completing their contractual obligations with Town of Prosper.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priority - Continue to provide excellent municipal services.
• Provide first rate utility billing service.
• Customer Service Representative will have all necessary information on hand to answer and meet our customers needs.
• Keep accurate records of solid waste accounts billed for the Town of Prosper.
20
DEPARTMENT: Utility Customer Service DIVISION:
Administration Solid Waste
TOWN OF PROSPER
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ - $ 61,862 $ 63,733
Operations - 2,840,079 2,863,809
Capital - 1,955,000 -
Debt - 137,500 257,501
TOTAL $ - $ 4,994,441 $ 3,185,043
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Customer Service Representative 1.00
TOTAL 0.00 0.00 1.00
Finance Director
Utility Customer Service Administrator
Customer Service Representative
21
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Stormwater Drainage Fees 790,629 825,000 920,000 950,000 1,064,000 1,191,680 1,275,098 1,313,351
Other 2,096 3,000 3,150 3,500 3,500 3,500 3,500 3,500
Transfer In - - - - - - - -
Investment Income (3,465) 1,800 11,632 8,000 8,000 8,000 8,000 8,000
TOTAL REVENUES 789,261$ 829,800$ 934,782$ 961,500$ 1,075,500$ 1,203,180$ 1,286,598$ 1,324,851$
EXPENDITURES Operating Expenses 241,895 440,836 390,074 377,961 389,300 400,979 413,008 425,398
Debt Service 233,788 219,463 219,463 215,263 215,263 220,338 219,338 218,113
Capital 62,230 225,000 260,303 225,000 225,000 225,000 225,000 225,000
Transfers Out 98,996 107,996 107,996 157,996 162,736 167,618 172,646 177,826
TOTAL EXPENDITURES 636,909$ 993,295$ 977,836$ 976,220$ 992,299$ 1,013,936$ 1,029,993$ 1,046,337$
Period Excess / (Deficit)152,352$ (163,495)$ (43,054)$ (14,720)$ 83,201$ 189,245$ 256,605$ 278,513$
NET CHANGE IN FUND BALANCE 152,352$ (163,495)$ (43,054)$ (14,720)$ 83,201$ 189,245$ 256,605$ 278,513$
BEGINNING FUND BALANCE 593,296$ 593,296$ 745,648$ 702,594$ 687,874$ 771,075$ 960,320$ 1,216,925$
ENDING FUND BALANCE 745,648$ 429,801$ 702,594$ 687,874$ 771,075$ 960,320$ 1,216,925$ 1,495,438$
AMOUNT OVER (UNDER) IN DAYS OPERATING COST 421 156 259 254 280 341 425 515
Fund Balance Policy 17%139%49%81%84%93%113%142%172%
Stormwater Drainage Utility Fund Summary
22
DEPARTMENT:DIVISION:
Engineering Administration - Stormwater
ACTIVITY DEMAND / ACTIVITY WORKLOAD ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
New development construction projects, post-construction BMP's, FOG
facilities, and residents' complaints within the Town's Jurisdiction to verify
compliance with TCEQ Stormwater requirements
176 180 200
Home Building Inspections (per individual lots)7,173 5,000 6,000
Number of developments requiring annual post-construction BMP audits 55 63 70
Hours spent on 'Education' part of Stormwater program including community
events, mailers, middle school visits, inlet markers, social media, et al.88 75 80
Hours spent on post-construction BMP audits and coordinating with HOA's
on remedies.80 80 95
Complete Annual MS4 permit update/Insure that Town's MS4 paperwork is
in order Annually Annually Annually
TOWN OF PROSPER
PROGRAM DESCRIPTION
The core service of the Stormwater Drainage Division is to ensure compliance with the Phase II Municipal Separate Storm
Sewer System (MS4)Permit by implementing and managing programs to improve water quality in accordance with regulatory
requirements, through public education, by eliminating illicit discharges, and rigorous construction site runoff control.
VISIONING PRIORITIES AND OBJECTIVES
Town Council Strategic Visioning Priorities 2023
1. The acceleration of infrastructure
2. The development of Downtown Prosper as a destination
3. Ensuring that the Town's commercial corridors are ready for development
4. Continue to provide excellent municipal services
* Inspect new development construction projects within the Town's jurisdiction monthly to verify compliance with TCEQ
Stormwater requirements
* Inspect and provide annual (educational) audits for drainage facilities to HOA's
* Home Building lots in Compliance
5. Work towards a growing and diversified tax base
23
DEPARTMENT:DIVISION:
Engineering Administration - Stormwater
TOWN OF PROSPER
EFFICIENCY / EFFECTIVENESS MEASURES ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Inspect new development construction projects within the Town's jurisdiction
monthly to verify compliance with TCEQ Stormwater requirements 100%100%100%
Inspect and provide annual (educational) audits for drainage facilities to
HOA's 80%80%95%
Home Building lots in Compliance 75%80%95%
EXPENDITURE SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Personnel $ 189,826 329,605$ $ 426,032
Operations 27,041 106,498 99,117
Capital 62,230 263,240 160,438
Transfers 107,996 110,024 107,996
Debt Service 109,459 219,463 215,263
VERF Charges for Service 5,830 6,455 -
TOTAL $ 502,382 $ 1,035,285 $ 1,008,846
PERSONNEL SUMMARY ACTUAL
2022-2023
REVISED
2023-2024
BUDGET
2024-2025
Erosion Control Inspector 0.00 1.00 1.00
Stormwater Crew Leader 0.00 0.00 1.00
Stormwater Utility Administrator 1.00 1.00 1.00
Utility Worker 1.00 2.00 2.00
TOTAL 2.00 4.00 5.00
Director of
Engineering
Services
Assistant Director of
Engineering Services -
Development
Stormwater Utility
Administrator
Erosion Control
Inspector
Director of Public Works
Street Superintendent
Street Supervisor
Crew Leader
Utility Worker (2)
24
DEBT SERVICE
FUND
Debt Service Fund Description
The Debt Service Fund accounts for the accumulation of resources and the payment of general long‐term debt
principal and interest. General Obligation Bonds and Certificates of Obligation are issued to finance major
improvements for the construction of streets, parks, libraries, recreation centers, fire stations, police stations,
and other general governmental improvements. Property taxes are the principal source of revenue in the
Debt Service Fund. The tax rate allocation for the Debt Service Fund is $0.180392, which is 35.7% of the fiscal
year 2025 tax rate ($0.505). The purpose of this fund is to retire outstanding general obligation bond and
payinterestontheindebtedness.
3
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Property Tax 13,341,122 15,184,531 15,574,069 18,228,251 20,195,057 22,176,379 24,101,167 25,979,329
Transfer In - - - - - - - -
Investment Income 138,013 20,000 234,957 195,000 75,000 75,000 75,000 75,000
TOTAL REVENUES 13,479,134$ 15,204,531$ 15,809,026$ 18,423,251$ 20,270,057$ 22,251,379$ 24,176,167$ 26,054,329$
EXPENDITURES Principal 7,229,006 9,474,172 8,885,722 8,640,966 8,643,512 8,775,394 9,198,313 9,649,469
Interest 5,594,880 5,458,264 6,842,144 6,663,697 6,259,295 5,842,519 5,404,131 4,941,313
Debt Service on Future Issuance - - - 3,518,892 5,023,674 7,235,881 9,086,259 10,688,646
Administrative Fees 3,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000
TOTAL EXPENDITURES 12,826,886$ 14,952,436$ 15,747,866$ 18,843,555$ 19,946,481$ 21,873,794$ 23,708,703$ 25,299,428$
Period Excess / (Deficit)652,249$ 252,095$ 61,160$ (420,304)$ 323,576$ 377,585$ 467,464$ 754,901$
OTHER FINANCING Transfers Out for Debt Service - - - - - - - -
TOTAL OTHER FINANCING SOURCES (USES)-$ -$ -$ -$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE 652,249$ 252,095$ 61,160$ (420,304)$ 323,576$ 377,585$ 467,464$ 754,901$
BEGINNING FUND BALANCE 650,271$ 540,443$ 1,302,520$ 1,363,680$ 943,376$ 1,266,952$ 1,644,537$ 2,112,001$
ENDING FUND BALANCE 1,302,520$ 792,538$ 1,363,680$ 943,376$ 1,266,952$ 1,644,537$ 2,112,001$ 2,866,902$
Debt Reserve Policy 3-5% of Annual Debt Service 10%5%9%5%6%8%9%11%
Debt Service Fund Summary
4
Projected Projected Projected Projected Projected
Position as of Position as of Position as of Position as of Position as of
FYE 9.30.2024 FYE 9.30.2025 FYE 9.30.2026 FYE 9.30.2027 FYE 9.30.2028
1. Assessed Value of taxable property 8,335,296,679$ 9,622,101,595$ 10,666,387,485$ 11,685,301,317$ 12,659,384,288$
(certified)(certified)(projected)(projected)(projected)
2. Freeze Assessed Value Equivalent 150,728,256$ 176,987,350$ 203,535,453$ 228,977,384$ 251,875,122$
3. Town's Target (4% limit)339,440,997$ 391,963,558$ 434,796,918$ 476,571,148$ 516,450,376$
Unreserved Debt Capacity 339,440,997$ 391,963,558$ 434,796,918$ 476,571,148$ 516,450,376$
4. Beginning Outstanding Debt 178,910,618$ 206,431,958$ 215,690,992$ 230,402,553$ 243,411,555$
Less: Total Principal Payment (8,885,722) (10,190,966) (10,488,439) (11,335,998) (12,467,178)
5. Authorized Proposed Issues 36,407,062 19,450,000 25,200,000 12,550,000 5,784,905
6. Future Proposed Issues - - 11,795,000 15,907,000
Total Debt Subject to Limit 206,431,958$ 215,690,992$ 230,402,553$ 243,411,555$ 252,636,282$
7. Available Unreserved Debt
Capacity ($)133,009,039$ 176,272,566$ 204,394,365$ 233,159,593$ 263,814,094$
8. Available Unreserved Debt
Capacity (%)39.18%44.97%47.01%48.92%51.08%
9. I&S Tax Rate 0.17726 0.180392 0.18000 0.18000 0.18000
10. Town's target of 40% or less of 34.8%35.7%35.6%35.6%35.6%
Total Tax Rate
11. Outstanding Debt as a percentage of 2.4%2.2%2.1%2.0%2.0%
Assessed Value (4% or less)
Notes:
1. Total Assessed valuation growth assumption is 10.85% in FY 2026, 9.55% in FY2027, 8.34% in FY2028, and 7.37% in FY2029.
2. The Freeze Assessed Value Equivalent is the calculated valuation needed to generate the levy collected on frozen property.
3. Town debt policy limits total principal amount of GO bonds together with the principle amount of all other outstanding tax indebtedness
will be targeted to not exceed four percent (4%) of the total assessed valuation of the Town's tax rolls.
7. Debt capacity available after deducting the reserved capacity in dollars.
8. Debt capacity available after deducting the reserved capacity in percentage.
9. Percentage of debt capacity available after deducting the reserved capacity.
10. Town's FY 2024 I&S tax rate and projected I&S rates are calculated based on 100% collections.
11. Percentage of overall total tax rate ($0.505 - FYE 09.30.25 and beyond).
12. Outstanding Debt as a percentage of Total Assessed Value
Current Rating
AA+
AA+
AA+
Aa1
AA+
Aa1
AA+
Aa1
Projection of Debt Margin Based on Town Policy
5. Debt issues subject to limit proposed are part of the Capital Improvements Plan and are anticipated to be issued during the referenced fiscal year. Sizi
estimated cost of issuance. Authorized in the 2020 Bond Election
6. Includes debt issues that are currently not authorized by the voters. A bond election is anticipated in November of 2025 to seek authorization.
BOND RATINGS
The Town has utilized two different rating agencies over the years -Moody's Investor Services and Standard and Poor's. Moody has
assigned the Town’s outstanding general obligation limited tax debt outlook as stable at Aa1 to the Town’s $8.535 million Combination Tax
and Surplus Revenue Certificates of Obligation,Series 2023 and the Town's $41.895 million General Obligation Refunding &Improvement
Bonds,Series 2023.Standard and Poor’s Global Ratings (“S&P”)also assigned its rating of AA+to the Town’s 2023 Combination Tax and
Surplus Revenue Certificates of Obligation and the Town's 2023 General Obligation Bonds. The Aa1 and AA+ratings are the second highest
ratings of each agency and reflect the Town’s healthy finanical position due to a rapidly expanding residential economy supported by
significant ongoing development,and a growing and affluent population working in nearby employment centers.The chart below reflects
ratings since June 2020.
Rating Entity Prior Rating Prior Rating Period
Standard & Poor's AA+August 2024
Fitch No prior rating August 2024
Standard & Poor's AA+August 2023
Moody's Aa1 August 2023
Standard & Poor's AA+September 2022
Moody's Aa1 September 2022
Standard & Poor's AA+August 2021
Moody's Aa1 August 2021
4. Current outstanding debt subject to limit at fiscal year end includes all debt in which property taxes are pledged. Excludes debt issued for water, sewer,
projects
5
Debt Issuance Details
General Obligation Refunding and Improvement Bonds, Series 2014 (Moody's Rated "Aa2" and
S&P Rated "AA")-The proceeds of this $7.175M taxable issue will be used for (i)refunding a portion
of the Town's outstanding debt; and (ii)design and land acquisition costs for Town fire stations and
park improvements. The issue is 47% debt service fund related and 53% water and sewer fund related
and was issued February 15, 2014, maturing February 15, 2034. Interest payable February 15 and
August 15 at rates ranging from 2.0% to 5.0%.
Certificates of Obligation, Series 2014 (Moody's Rated "Aa2" and S&P Rated "AA")-The
proceeds of this $12.57M taxable issue will be used for (i) acquisition of sewage treatment capacity.
The issue is 100% water and sewer fund related and was issued February 15, 2014, maturing February
15, 2034. Interest payable February 15 and August 15 at rates ranging from 2.0% to 4.0%.
General Obligation Refunding and Improvement Bonds, Series 2015 (Moody's Rated "Aa2" and
S&P Rated "AA")-The proceeds of this $16.135M taxable issue will be used for (i)refunding a portion
of the Town's outstanding debt;(ii)improvements to streets and roads, bridges and intersections, and
related infrastructure in the Town;(iii)to fund the construction and equipping of a fire station; and (iv)
the acquisition and installation of a public safety radio system.The issue is 79% debt service fund
related and 21% water and sewer fund related and was issued July 15, 2015, maturing February 15,
2035. Interest payable February 15 and August 15 at rates ranging from 2.0% to 5.0%.
Certificates of Obligation, Series 2015 (Moody's Rated "Aa2" and S&P Rated "AA")-The
proceeds of this $8.135M taxable issue will be used for (i)improvements to streets and roads, bridges
and intersections, and related infrastructure in the Town;(ii)to fund the construction and equipping of a
fire station; and (iii)the acquisition and installation of a public safety radio system.The issue is 100%
debt service fund related and was issued July 15, 2015, maturing February 15, 2035. Interest payable
February 15 and August 15 at rates ranging from 2.0% to 5.0%.
General Obligation Refunding and Improvement Bonds, Series 2016 (Moody's Rated "Aa2" and
S&P Rated "AA")-The proceeds of this $7.505M taxable issue will be used for (i)refunding a portion
of the Town's outstanding debt;(ii)acquiring a site for, and designing a multi-purpose municipal facility
to serve as Town Hall and for other municipal services,with any surplus bond proceeds to be used for
the construction of such facility; (iii)designing, constructing, improving and equipping parks,trails and
recreational facilities and a park administration facility,and the acquisition of land and interests in land
for such purposes; and (iv)constructing, improving, extending, expanding, upgrading and developing
streets and roads, bridges and intersections including utility relocation, landscaping, sidewalks,traffic
safety and operational improvements, the purchase of any necessary rights-of-way, drainage and other
related costs.The issue is 84% debt service fund related and 16% water and sewer fund related and
was issued July 12, 2016, maturing February 15, 2036. Interest payable February 15 and August 15 at
rates ranging from 2.0% to 4.0%.
6
Debt Issuance Details
Certificates of Obligation, Series 2016 (Moody's Rated "Aa2" and S&P Rated "AA")-The
proceeds of this $8.47M taxable issue will be used for (i)the construction and equipping of a multi-
purpose municipal facility, (ii)the constructing, improving, extending, expanding, upgrading and
developing parks and recreation facilities including fields, trails, utility relocation, landscaping,
sidewalks, and operational improvements,installation of lighting,the purchase of any necessary rights-
of-way, drainage and other related costs;and (iii)the constructing, improving, extending, expanding,
upgrading, and developing storm drainage utility projects including utility relocation, landscaping,
sidewalks,traffic safety and operation improvements, the purchase of necessary easements and the
related costs.The issue is 84% debt service fund related and 16% stormwater drainage fund related
and was issued July 12, 2016, maturing February 15, 2036. Interest payable February 15 and August
15 at rates ranging from 2.0% to 4.0%.
Certificates of Obligation, Series 2017 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $11.565M taxable issue will be used for (i)constructing and equipping of a facility to
serve as Town Hall and to house other municipal offices;(ii)constructing, improving and developing
parks and recreation facilities;and (iii)constructing and improving storm drainage utility projects in the
Town. The issue is 91% debt service fund related and 9% stormwater drainage fund related and was
issued June 27, 2017, maturing February 15, 2037. Interest payable February 15 and August 15 at
rates ranging from 2.0% to 5.0%.
General Obligation Bonds, Series 2018 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $3.9M taxable issue will be used for (i)constructing and equipping public safety
facilities,parks and park facilities and a public works facility;and (ii)constructing and improving streets,
roads and other related infrastructure in the Town. The issue is 100% debt service fund related and was
issued June 15, 2018, maturing February 15, 2038. Interest payable February 15 and August 15 at
rates ranging from 4.0% to 5.0%.
Certificates of Obligation, Series 2018 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $22.225M taxable issue will be used for (i)constructing and equipping a multi-purpose
municipal facility to serve as Town Hall and to house other municipal services;(ii)improving the Town's
waterworks system;and (iii)constructing and improving streets, roads and other related infrastructure
in the Town. The issue is 56% debt service fund related and 44% water and sewer fund related and
was issued June 15, 2018, maturing February 15, 2038. Interest payable February 15 and August 15 at
rates ranging from 3.125% to 5.0%.
General Obligation Bonds, Series 2019 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $4.065M taxable issue will be used for (i)constructing and improving streets, roads
and other related infrastructure in the Town. The issue is 100% debt service fund related and was
issued July 25, 2019, maturing February 15, 2039. Interest payable February 15, and August 15 at
rates ranging from 3.0% to 4.0%.
7
Debt Issuance Details
Certificates of Obligation, Series 2019 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $17.49M taxable issue will be used for (i)acquiring, constructing,installing and
equipping additions, improvements, extensions and equipment for the Town's waterworks and sewer
system;(ii)constructing, improving, extending, expanding, upgrading and developing streets and roads
and intersections, including utility relocation, landscaping, sidewalks,traffic safety and operational
improvements and the purchase of any necessary rights-of-way and other related costs,(iii)
constructing, improving, extending, expanding, upgrading and developing parks and recreation facilities,
including fields, trails, utility relocation, landscaping, sidewalks and operational improvements,
installation of lighting,the purchase of any necessary rights-of-way, and other related costs;(iv)
designing, constructing, improving and equipping public safety facilities in the Town, including a police
station and dispatch facility,and the acquisition of land and interests in land as necessary for such
purposes; and (v)paying legal, fiscal,engineering and architectural fees in connection with these
projects. The issue is 75% debt service fund related and 25% water and sewer fund related and was
issued July 25, 2019, maturing February 15, 2039. Interest payable February 15 and August 15 at rates
ranging from 3.0% to 5.0%
Certificates of Obligation, Series 2020 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $10.875M taxable issue will be used for (i)constructing, improving, extending,
expanding, upgrading and developing streets and roads and intersections, including utility relocation,
landscaping, sidewalks,traffic safety and operational improvements and the purchase of any necessary
rights-of-way and other related costs;(ii)constructing, improving, extending, expanding, upgrading and
developing parks and recreation facilities,including fields, trails, utility relocation, landscaping,
sidewalks and operational improvements,installation of lighting,the purchase of any necessary rights-
of-way, drainage and other related costs;and (iii)paying legal, fiscal,engineering and architectural fees
in connection with these projects. The issue is 100% debt service fund related and was issued
September 1, 2020, maturing February 15, 2035. Interest payable February 15 and August 15 at 4.0%.
General Obligation Bonds, Series 2021 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $36.255M taxable issue will be used for (i)constructing public safety facilities in the
Town;(ii)equipping parks,trails and recreational facilities in the Town;(iii)constructing and improving
streets, roads and other related infrastructure in the Town; and (iv)paying costs of issuing the Bonds.
The issue is 100% debt service fund related and was issued August 18, 2021, maturing February 15,
2041. Interest payable February 15 and August 15 at rates ranging from 2.0% to 5.0%.
Certificates of Obligation, Series 2021 (Moody's Rated "Aa1" and S&P Rated "AA+")-The
proceeds of this $6.855M taxable issue will be used for (i)constructing, improving, extending,
expanding, upgrading and developing streets and roads and intersections, including utility relocation,
landscaping, sidewalks,traffic safety and operational improvements and the purchase of any necessary
right-of-way and other related costs,specifically including improvements to Frontier Parkway from the
Dallas North Tollway to Preston Road and Fishtrap Road from Teel Parkway to Stuber Elementary
School;(ii)construction,acquisition and installation of the Westside communications radio tower and
(iii)paying legal, fiscal,engineering and architectural fees in connection with these projects, including
the costs of issuing the Certificates.The issue is 100% debt service fund related and was issued
August 18, 2021, maturing February 15, 2041. Interest payable February 15 and August 15 at rates
ranging from 2.0% to 5.0%.
8
Debt Issuance Details
General Obligation Bonds, Series 2022 (Moody's Rated "Aa1" and S&P Rated "AA+") - The
proceeds of this $31.600M taxable issue will be used for (i) public safety facilities in the Town,
consisting of fire stations, an emergency operations center, a public safety training acility and
administrative facilities relating thereto ; (ii) equipping parks, trails and recreational facilities in the Town
and the acquisition of land and interests in land for such purposes; (iii) constructing, improving,
extending, expanding, upgrading and developing streets and roads, bridges and intersections in the
Town and related drainage improvements, utility relocations, landscaping, curbs and sidewalks, traffic
safety and operational improvements, entryway signage and other street and road signage and costs
associated with such projects, and interests in land as may be necessary for such purposes, and
excluding certain road projects to be funded with other obligations; and (iv) paying costs of issuing the
Bonds. The issue is 100% debt service fund related and was issued September 29, 2022, maturing
February 15, 2042. Interest payable February 15 and August 15 at rates ranging from 4.0% to 5.0%.
Certificates of Obligation, Series 2022 (Moody's Rated "Aa1" and S&P Rated "AA+") - The
proceeds of this $12.925M taxable issue will be used for (i) acquiring, constructing, installing and
equipping additions, improvements, extensions and equipment for the Town’s waterworks and sewer
system and the acquisition of land and rights-of-way therefor; (ii) acquiring, constructing and installing
stormwater drainage and flood control improvements in the Town, including dredging, channel
improvements and related infrastructure and utility relocation and the acquisition of land and interests in
land necessary for said improvements; and (iii) paying legal, fiscal, engineering and architectural fees in
connection with these projects, including the costs of issuing the Certificates. The issue is 100% water
and sewer fund related and was issued October 27,2022, maturing February 15, 2042. Interest payable
February 15 and August 15 at rates ranging from 4.75% to 5.0%.
General Obligation Refunding and Improvement Bonds, Series 2023 (Moody's Rated "Aa1" and
S&P Rated "AA+") - Proceeds of this $36.958 taxable issue will be used for: (i) to refund a portion of
the Town's outstanding debt (the "Refunded Obligations") for debt service savings (see "Schedule I –
Schedule of Refunded Obligations"); (ii) constructing and equipping parks, trails and recreational
facilities in the Town and the acquisition of land and interests in land for such purposes; (iii)
constructing, improving, extending, expanding, upgrading and developing streets and roads, bridges
and intersections in the Town and related drainage improvements, utility relocations, landscaping, curbs
and sidewalks, traffic safety and operational improvements, entryway signage and other street and road
signage and costs associated with such projects, and interests in land as may be necessary for such
purposes, and excluding certain road projects to be funded with other obligations; and (iv) paying costs
of issuing the Bonds. The issue is 100% debt service fund related and was issued September 28, 2023,
maturing February 15, 2043. Interest payable February 15 and August 15 at rates ranging from 4.0% to
5.0%.
9
Debt Issuance Details
Combination Tax and Surplus Revenue Certificates of Obligation, Series 2023 (Moody's Rated
"Aa1" and S&P Rated "AA+") - The proceeds of this $8.535 taxable issue will be used for: (i)
acquiring, constructing, installing and equipping additions, improvements, extensions and equipment for
the Town’s waterworks and sewer system and the acquisition of land and rights-of-way therefor, and (ii)
paying legal, fiscal, engineering and architectural fees in connection with these projects, including the
costs of issuing the Certificates. The issue is 100% water and sewer fund related and was issued
September 28,2022, maturing August 15, 2043. Interest payable February 15 and August 15 at rates
ranging from 4.75% to 5.0%.
General Obligation Bonds, Series 2024 (S&P Rated "AA+" and Fitch Rated "AA+”) - Proceeds
from the sale of the Bonds will be used for: (i) public safety facilities in the Town, consisting of fire
stations, an emergency operations center, a public safety training facility and administrative facilities
relating thereto; (ii) constructing and equipping parks, trails and recreational facilities in the Town and
the acquisition of land and interests in land for such purposes; (iii) constructing, improving, extending,
expanding, upgrading and developing streets and roads, bridges and intersections in the Town and
related drainage improvements, utility relocations, landscaping, curbs and sidewalks, traffic safety and
operational improvements, entryway signage and other street and road signage and costs associated
with such projects, and interests in land as may be necessary for such purposes, and excluding certain
road projects to be funded with other obligations; and (iv) paying costs of issuing the Bonds.
Waterworks and Sewer System Revenue Bonds, Series 2024 (S&P Rated "AA-" and Fitch Rated
"AA”) - Proceeds from the sale of the Bonds will be used for: (i) the acquisition, construction,
installation and equipment of additions, improvements and extensions to the System, and (ii) paying the
costs associated with the issuance of the Bonds.
10
Principal Outstanding
2015 Certificates of Obligation
2015 General Obligation Bonds
2015 General Obligation Refunding Bonds
2016 Certificates of Obligation 6,410,000 2036
2016 General Obligation Bonds 3,310,000 2036
2017 Certificates of Obligation
2018 General Obligation Bonds 3,075,000 2038
2018 Certificates of Obligation 9,745,000 2038
2019 General Obligation Bonds 3,295,000 2039
2019 Certificates of Obligation
2020 Certificates of Obligation 9,305,000 2040
2021 General Obligation Bonds 31,815,000 2041
2021 Certificates of Obligation 6,040,000 2041
2022 General Obligation Bonds 28,740,000 2042
2023 General Obligation Refunding Bonds 1,920,000 2033
2023 General Obligation Bonds 33,480,000 2043
2024 General Obligation Bonds 36,407,062 2044
Principal Outstanding
2034
2015 General Obligation Refunding Bonds 2029
2016 Certificates of Obligation 2036
2017 Certificates of Obligation 2037
2018 Certificates of Obligation 2038
2019 Certificates of Obligation 2039
2022 Certificates of Obligation 2042
2023 General Obligation Refunding Bonds 2033
2023 Certificates of Obligation 2043
2024 Revenue Bonds 31,250,000 2044
1,325,500
75,640,104$
895,000
730,000
3,589,604
7,715,000
12,010,000
8,010,000
2,620,000
2014 Certificates of Obligation 7,495,000
Issue Final Maturity
Water/Sewer/Drainage Supported Debt
Fiscal Year 2024-2025
2,430,000 2035
5,104,500 2029
8,225,000 2037
205,831,959$
10,615,397 2039
Outstanding Principal on Debt
Tax Supported Debt
Fiscal Year 2024-2025
Issue Final Maturity
5,915,000 2035
11
2044 2,638,193 54,413 2,692,606
2041 9,655,953 775,165 10,431,119
2040 10,078,745 1,117,184 11,195,929
2042
2043
2028 10,713,253 6,864,132 17,577,385
2029 11,241,004 6,334,952 17,575,955
2026 9,800,230 7,837,135 17,637,365
Principal and Interest Debt Schedule
Tax Supported Debt Service
Fiscal Year 2024-2025
Year Principal Interest Total
2027 10,213,861 7,365,679 17,579,540
2025 10,146,397 8,093,459 18,239,856
2032 11,821,501 4,807,828 16,629,329
2033 12,305,761 4,311,470 16,617,230
2030 10,843,227 5,808,046 16,651,273
2031 11,335,978 5,301,328 16,637,306
2036 12,619,275 2,798,766 15,418,042
2039 10,884,736 1,481,151 12,365,887
2034 12,540,143 3,805,562 16,345,705
2035 13,049,648 3,296,987 16,346,635
2037 12,022,762 2,322,563 14,345,325
2038 11,637,513 1,879,255 13,516,768
TOTALS 205,831,959$ 74,933,743$ 280,765,702$
7,178,162 464,539 7,642,701
5,105,616 214,129 5,319,745
12
Principal and Interest Debt Schedule
2025 3,869,059 3,154,076
Water/Sewer/Drainage Supported Debt Service
Fiscal Year 2024-2025
Year Principal Interest Total
2026 3,888,629 3,140,358 7,028,987
2031 4,233,097 2,245,351 6,478,448
2029 3,961,997 2,616,268 6,578,266
2027 3,599,374 2,966,728 6,566,102
2028 3,791,711 2,795,851 6,587,562
2032 4,424,671 2,054,226 6,478,897
2030 4,038,997 2,432,359 6,471,356
2035 3,724,367 1,463,886 5,188,254
2036 3,892,204 1,293,917 5,186,121
2033 4,603,694 1,857,092 6,460,786
2034 4,442,716 1,660,647 6,103,363
TOTALS 75,640,104$ 32,363,111$ 108,003,214$
2039 3,524,505 792,585 4,317,090
2042 3,657,164 363,173 4,020,337
2041 3,516,908 510,787 4,027,695
2040 3,381,653 652,690 4,034,343
2043
2044
2,787,420 208,886
2,276,490 93,905 2,370,395
7,023,135
2037 3,966,305 1,117,466 5,083,770
2038 4,059,141 942,859 5,002,001
2,996,307
13
14
OTHER FUNDS
Revenue Category Parks Impact
Fees
Internal
Service
Special
Revenue Hotel
Property Tax - - - 1,664,113 -
Sales Tax - - - 9,341,846 57,125
Investment Income 74,000 735,000 270,000 131,450 2,000
License, Fees & Permits - - - 300,000 -
Impact Fees - 11,000,000 - 800,000 -
Charges for Services 600,000 - 6,714,581 - -
Contribution 800,000 - - - -
Grants - - - - -
Other Transfers In - - - - -
Miscellaneous - 300,000 450,000 78,723 -
Revenue Total $1,474,000 $12,035,000 $7,434,581 $12,316,132 $59,125
Other
Other Funds Revenues
By Source
Parks
5%
Impact
Fees
36%
Internal
Service
22%
Special
Revenue
37%
Hotel
0%
3
TIRZ #1 Fund Description
The Town of Prosper designated a certain area within the Town as Tax Increment Reinvestment Zone Number 1
in 2008. The Town Council desires to promote the development or redevelopment of said geographic area by
designation of a reinvestment zone, as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas
Tax Code. This fund is to account for the restricted revenue sources detailed in the agreement along with the
reimbursements to the developer for agreed upon expenditures.
4
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Impact Fee Revenue 331,540 750,000 810,000 800,000 800,000 800,000 800,000 800,000
Property Taxes-Town 810,076 1,108,174 1,108,174 1,269,687 1,526,812 1,835,361 2,205,620 2,649,931
Property Taxes-County 172,956 236,601 231,790 268,202 295,022 324,524 356,977 392,675
Property Taxes-Rollback Taxes - - 486,411 - - - - -
Sales Taxes - Town 847,097 1,372,209 1,176,351 1,293,986 1,397,504 1,495,330 1,585,050 1,680,153
Sales Taxes - EDC 709,444 1,149,225 988,134 1,086,948 1,173,904 1,256,077 1,331,442 1,411,328
Investment Income 72,474 6,000 86,744 75,000 50,000 50,000 50,000 50,000
TOTAL REVENUES 2,943,586$ 4,622,209$ 4,887,604$ 4,793,823$ 5,243,242$ 5,761,293$ 6,329,089$ 6,984,087$
EXPENDITURES
Professional Services - - - - - - - -
Developer Reimbursement 3,750,484 4,622,209 5,854,049 4,793,823 5,243,242 5,761,293 6,329,089 6,984,087
TOTAL EXPENDITURES 3,750,484$ 4,622,209$ 5,854,049$ 4,793,823$ 5,243,242$ 5,761,293$ 6,329,089$ 6,984,087$
Period Excess / (Deficit)(806,898)$ -$ (966,445)$ -$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE (806,898)$ -$ (966,445)$ -$ -$ -$ -$ -$
BEGINNING FUND BALANCE 1,798,343$ 25,000$ 991,445$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$
ENDING FUND BALANCE 991,445$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$
TIRZ # 1 Fund Summary
5
TIRZ #2 Fund Description
The Town of Prosper designated a certain area within the Town as Tax Increment Reinvestment Zone Number 2
in 2013. The Town Council desires to promote the development or redevelopment of said geographic area by
designation of a reinvestment zone, as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas
Tax Code. This fund is to account for the restricted revenue sources detailed in the agreement along with the
reimbursements to the developer for agreed upon expenditures.
6
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Property Taxes-Town 33,061 39,537 84,097 117,783 129,561 139,926 148,322 155,738
Property Taxes-County 7,059 8,441 8,270 8,441 9,285 10,028 10,630 11,161
Sales Taxes - Town - - 4,000 2,000 - - - -
Sales Taxes - EDC - - 4,000 2,000 - - - -
Investment Income 1,468 1,200 1,867 1,500 1,500 1,500 1,500 1,500
TOTAL REVENUES 41,587$ 49,178$ 102,234$ 131,724$ 140,346$ 151,454$ 160,451$ 168,400$
EXPENDITURES
Professional Services - - - - - - - -
Developer Reimbursement 41,006 49,178 102,884 131,724 140,346 151,454 160,451 168,400
TOTAL EXPENDITURES 41,006$ 49,178$ 102,884$ 131,724$ 140,346$ 151,454$ 160,451$ 168,400$
Period Excess / (Deficit)582$ -$ (650)$ -$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE 582$ -$ (650)$ -$ -$ -$ -$ -$
BEGINNING FUND BALANCE 25,068$ 25,387$ 25,650$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$
ENDING FUND BALANCE 25,650$ 25,387$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$
TIRZ # 2 Fund Summary
7
Crime Control and Prevention District Description
The Town of Prosper held a special election in 2018 that established a Crime Control and Prevention Special
Purpose District allowed under Texas Local Government Code, Chapter 363 and Texas Tax Code,Section
323.105.The voters approved the Crime Control and Prevention District for five years,and in 2023,approved
the District for an additional 20 years through 2043,at which time voters will have to reaffirm or repeal. Crime
Control and Prevention District is dedicated to crime reduction programs and the dedication of a one-fourth of
one percent sales and use tax.The sales and use tax collected will be used to support the cost of crime control
and crime prevention including costs of personnel,administration,expansion, enhancement, and capital
expenditures.The implementation of the Crime Control and Prevention District funded twelve and a half
existing Police Officers plus additional personnel costs.In FY 2024-2025,three additional Police Officer
positions are transferred from the General Fund.
8
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Sales Taxes 2,681,697 3,060,806 3,162,232 3,478,456 3,721,948 3,982,484 4,261,258 4,559,546
Investment Income (1,290) 1,200 250 1,200 1,200 1,200 1,200 1,200
Other - - - - - - - -
TOTAL REVENUES 2,680,407$ 3,062,006$ 3,162,482$ 3,479,656$ 3,723,148$ 3,983,684$ 4,262,458$ 4,560,746$
EXPENDITURES
Personnel 2,812,572 3,167,364 3,167,364 3,344,835 3,721,948 3,982,484 4,261,258 4,559,546
Other (5,462) 1,200 1,200 1,200 1,200 1,200 1,200 1,200
TOTAL EXPENDITURES 2,807,109$ 3,168,564$ 3,168,564$ 3,346,035$ 3,723,148$ 3,983,684$ 4,262,458$ 4,560,746$
Period Excess / (Deficit)(126,702)$ (106,558)$ (6,082)$ 133,621$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE (126,702)$ (106,558)$ (6,082)$ 133,621$ -$ -$ -$ -$
BEGINNING FUND BALANCE 548,756$ 524,396$ 422,054$ 415,972$ 549,593$ 549,593$ 549,593$ 549,593$
ENDING FUND BALANCE 422,054$ 417,838$ 415,972$ 549,593$ 549,593$ 549,593$ 549,593$ 549,593$
Crime Control and Prevention Special Purpose District
9
Fire Control, Prevention, and Emergency Medical Services District Description
The Town of Prosper held a special election in 2018 that established a Fire Control,Prevention,and Emergency
Medical Services Special Purpose District allowed under Texas Local Government Code, Chapter 344 and Texas
Tax Code,Section 321.106.Fire Control,Prevention and Emergency Medical Services District is dedicated to
fire safety and emergency medical services programs and the dedication of a one-fourth of one percent sales
and use tax.The voters approved the Fire Control,Prevention,and Emergency Medical Services District for the
next five years,and in 2023,approved the District for an additional 20 years through 2043,at which time voters
will have to reaffirm or repeal.The sales and use tax collected will be used to support the cost of fire control,
prevention, and emergency services including costs of personnel,administration,expansion, enhancement, and
capital expenditures.The implementation of the Fire Control,Prevention,and Emergency Medical Services
District funded twelve and a half existing Firefighter/Paramedics plus additional personnel costs.In FY 2024-
2025, six additional Firefighter/Paramedic positions are transferred from the General Fund.
10
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Sales Taxes 2,679,030 3,060,806 3,162,232 3,478,456 3,721,948 3,982,484 4,261,258 4,559,546
Investment Income 2,155 600 4,553 1,200 600 600 600 600
Other - - - - - - - -
TOTAL REVENUES 2,681,186$ 3,061,406$ 3,166,785$ 3,479,656$ 3,722,548$ 3,983,084$ 4,261,858$ 4,560,146$
EXPENDITURES
Personnel 2,561,222 3,026,823 3,026,823 3,541,860 3,722,048 3,982,584 4,261,358 4,559,646
Other (5,462) 2,400 1,200 2,400 500 500 500 500
TOTAL EXPENDITURES 2,555,760$ 3,029,223$ 3,028,023$ 3,544,260$ 3,722,548$ 3,983,084$ 4,261,858$ 4,560,146$
Period Excess / (Deficit)125,426$ 32,183$ 138,762$ (64,604)$ -$ -$ -$ -$
NET CHANGE IN FUND BALANCE 125,426$ 32,183$ 138,762$ (64,604)$ -$ -$ -$ -$
BEGINNING FUND BALANCE 329,869$ 457,409$ 455,295$ 594,057$ 529,453$ 529,453$ 529,453$ 529,453$
ENDING FUND BALANCE 455,295$ 489,592$ 594,057$ 529,453$ 529,453$ 529,453$ 529,453$ 529,453$
Fire Control, Prevention and Emergency Medical Services Special Purpose District
11
Park Improvement/Dedication Fund Description
Park Improvement Fund ‐ This fund is to account for contributions to the Town for improvements to Town parks
per development agreements. Developers are reimbursed for the reasonable costs of any park improvements
constructed and accepted by the Town. For multi‐family development projects and for complete phases of a
single‐family subdivision plat, the Developer may elect to apply the entire amount to be reimbursed under this
section as a credit against park fees due for the residential development, provided that the application of the
credit does not result in a partial fee for any dwelling unit, in accordance with guidelines established by the
Town. The Town shall retain sole discretion to determine whether to accept proposed park improvements.
Park Dedication Fund ‐ This fund is to account for contributions to the Town for the creation of parks within the
Town per development agreements. Fund expenditures must be used for the acquisition, development,
expansion, or upgrading of parks.
12
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Park Dedication Fees 604,429 300,000 969,159 600,000 800,000 800,000 800,000 800,000
Park Improvement Fees 144,000 220,000 969,159 800,000 600,000 600,000 600,000 600,000
Grants-Improvement Fund 200,550 - - - - - - -
Transfer In-Dedication Fund - - - - - - - -
Park Dedication-Interest 35,233 2,000 33,630 36,000 20,000 20,000 20,000 20,000
Park Improvement-Interest 31,491 4,050 43,665 38,000 20,000 20,000 20,000 20,000
TOTAL REVENUES 1,015,702$ 526,050$ 2,015,613$ 1,474,000$ 1,440,000$ 1,440,000$ 1,440,000$ 1,440,000$
EXPENDITURES General - Park Dedication - 963,800 1,363,800 1,810,050 - - - -
General - Park Improvement 749,736 750,000 750,000 515,000 - - - -
TOTAL EXPENDITURES 749,736$ 1,713,800$ 2,113,800$ 2,325,050$ -$ -$ -$ -$
Period Excess / (Deficit)265,966$ (1,187,750)$ (98,187)$ (851,050)$ 1,440,000$ 1,440,000$ 1,440,000$ 1,440,000$
NET CHANGE IN FUND BALANCE 265,966$ (1,187,750)$ (98,187)$ (851,050)$ 1,440,000$ 1,440,000$ 1,440,000$ 1,440,000$
BEGINNING FUND BALANCE 2,068,159$ 3,583,784$ 2,334,125$ 2,235,938$ 1,384,888$ 2,824,888$ 4,264,888$ 5,704,888$
PARK DEDICATION ENDING FUND BALANCE 1,586,941$ 1,239,258$ 1,225,930$ 51,880$ 871,880$ 1,691,880$ 2,511,880$ 3,331,880$
PARK IMPROVEMENT ENDING FUND BALANCE 747,184$ 1,156,776$ 1,010,008$ 1,333,008$ 1,953,008$ 2,573,008$ 3,193,008$ 3,813,008$
Park Dedication/Improvement Fund Summary
13
Impact Fee Fund Description
Impact Fees were established to assure the availability of funds for major capital projects needed as a result of
development. They are broken out into the following four funds: East Thoroughfare, West Thoroughfare, Water,
and Wastewater. The laws governing the collection and disbursement of impact fees require separate
accounting and reporting of these funds. Additionally, an analysis and update of the fee structure is required
every five years. Appropriations from these funds are being utilized to provide supplemental funding for eligible
capital improvement projects.
14
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING
YEAR
2025-2026
PLANNING
YEAR
2026-2027
PLANNING
YEAR
2027-2028
PLANNING
YEAR
2028-2029
REVENUES Impact Fees 3,314,573 3,250,000 3,415,670 3,500,000 3,250,000 3,250,000 3,250,000 3,250,000
Investment Income 207,203 200,000 334,311 290,000 200,000 200,000 200,000 200,000
TOTAL REVENUES 3,521,776$ 3,450,000$ 3,749,981$ 3,790,000$ 3,450,000$ 3,450,000$ 3,450,000$ 3,450,000$
EXPENDITURES Operations-Developer Agreements 925,469 2,180,644 109,292 1,790,533 400,000 245,000 100,000 -
Capital 42,385 124,250 124,250 - - - - -
TOTAL EXPENDITURES 967,854$ 2,304,894$ 233,542$ 1,790,533$ 400,000$ 245,000$ 100,000$ -$
Period Excess / (Deficit)2,553,923$ 1,145,106$ 3,516,439$ 1,999,467$ 3,050,000$ 3,205,000$ 3,350,000$ 3,450,000$
OTHER FINANCING Transfers In - - - - - - - -
Transfers Out - (3,100,000) (3,100,000) (2,000,000)(3,000,000) (3,000,000) (3,000,000) (3,000,000)
TOTAL OTHER FINANCING SOURCES (USES)-$ (3,100,000)$ (3,100,000)$ (2,000,000)$ (3,000,000)$ (3,000,000)$ (3,000,000)$ (3,000,000)$
NET CHANGE IN FUND BALANCE 2,553,923$ (1,954,894)$ 416,439$ (533)$ 50,000$ 205,000$ 350,000$ 450,000$
BEGINNING FUND BALANCE 4,676,668$ 4,364,498$ 7,230,591$ 7,647,030$ 7,646,497$ 7,696,497$ 7,901,497$ 8,251,497$
ENDING UNRESTRICTED FUND BALANCE 7,230,591$ 2,409,604$ 7,647,030$ 7,646,497$ 7,696,497$ 7,901,497$ 8,251,497$ 8,701,497$
Water Impact Fee Fund Summary
15
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Impact Fees 2,231,035 2,000,000 1,723,772 2,000,000 1,750,000 1,750,000 1,750,000 1,750,000
Equity Fees 318,500 300,000 290,062 300,000 250,000 250,000 250,000 250,000
Investment Income 98,847 100,000 153,284 125,000 100,000 100,000 100,000 100,000
TOTAL REVENUES 2,648,381$ 2,400,000$ 2,167,118$ 2,425,000$ 2,100,000$ 2,100,000$ 2,100,000$ 2,100,000$
EXPENDITURES Operations-Developer Reimbursements 754,417 1,530,091 1,530,091 558,726 348,274 125,000 - -
Capital 236,975 212,000 363,000 - - - - -
TOTAL EXPENDITURES 991,393$ 1,742,091$ 1,893,091$ 558,726$ 348,274$ 125,000$ -$ -$
Period Excess / (Deficit)1,656,989$ 657,909$ 274,027$ 1,866,274$ 1,751,726$ 1,975,000$ 2,100,000$ 2,100,000$
OTHER FINANCING Transfers In - - - - - - - -
Transfers Out - - - (3,531,622) (2,000,000) (2,000,000) (2,000,000) (2,000,000)
TOTAL OTHER FINANCING SOURCES (USES)-$ -$ -$ (3,531,622)$ (2,000,000)$ (2,000,000)$ (2,000,000)$ (2,000,000)$
NET CHANGE IN FUND BALANCE 1,656,989$ 657,909$ 274,027$ (1,665,348)$ (248,274)$ (25,000)$ 100,000$ 100,000$
BEGINNING FUND BALANCE 1,051,618$ 2,535,117$ 2,708,607$ 2,982,634$ 1,317,286$ 1,069,012$ 1,044,012$ 1,144,012$
-$
ENDING UNRESTRICTED FUND BALANCE 2,708,607$ 3,193,026$ 2,982,634$ 1,317,286$ 1,069,012$ 1,044,012$ 1,144,012$ 1,244,012$
Wastewater Impact Fee Fund Summary
16
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Impact Fees 2,235,968 1,200,000 1,074,769 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Investment Income 102,355 100,000 135,279 120,000 75,000 75,000 75,000 75,000
TOTAL REVENUES 2,338,322$ 1,300,000$ 1,210,048$ 1,120,000$ 1,075,000$ 1,075,000$ 1,075,000$ 1,075,000$
EXPENDITURES Operations-Developer Reimbursements 179,515 225,000 262,292 237,074 - - - -
Capital 77,074 250,000 829,510 - - - - -
TOTAL EXPENDITURES 256,588$ 475,000$ 1,091,802$ 237,074$ -$ -$ -$ -$
Period Excess / (Deficit)2,081,734$ 825,000$ 118,246$ 882,926$ 1,075,000$ 1,075,000$ 1,075,000$ 1,075,000$
OTHER FINANCING Transfers In - - - - - - - -
Transfers Out (235,447) - - (2,500,000) (1,000,000) (1,000,000) (1,000,000) (1,000,000)
TOTAL OTHER FINANCING SOURCES (USES)(235,447)$ -$ -$ (2,500,000)$ (1,000,000)$ (1,000,000)$ (1,000,000)$ (1,000,000)$
NET CHANGE IN FUND BALANCE 1,846,287$ 825,000$ 118,246$ (1,617,074)$ 75,000$ 75,000$ 75,000$ 75,000$
BEGINNING FUND BALANCE 726,041$ 1,778,677$ 2,572,328$ 2,690,574$ 1,073,500$ 1,148,500$ 1,223,500$ 1,298,500$
ENDING UNRESTRICTED FUND BALANCE 2,572,328$ 2,603,677$ 2,690,574$ 1,073,500$ 1,148,500$ 1,223,500$ 1,298,500$ 1,373,500$
East Thoroughfare Impact Fee Fund Summary
17
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Impact Fees 4,653,294 4,000,000 4,835,242 4,500,000 4,000,000 4,000,000 4,000,000 4,000,000
Investment Income 155,700 150,000 270,026 200,000 150,000 150,000 150,000 150,000
TOTAL REVENUES 4,808,994$ 4,150,000$ 5,105,268$ 4,700,000$ 4,150,000$ 4,150,000$ 4,150,000$ 4,150,000$
EXPENDITURES Operations-Developer Agreements 3,573,487 2,675,160 962,205 5,086,548 2,300,000 1,700,000 1,300,000 600,000
Capital - 300,000 - - - - - -
TOTAL EXPENDITURES 3,573,487$ 2,975,160$ 962,205$ 5,086,548$ 2,300,000$ 1,700,000$ 1,300,000$ 600,000$
Period Excess / (Deficit)1,235,507$ 1,174,840$ 4,143,063$ (386,548)$ 1,850,000$ 2,450,000$ 2,850,000$ 3,550,000$
OTHER FINANCING Transfers In - - - - - - - -
Transfers Out (62,050) (300,000) (600,000) (5,000,000) (2,000,000) (2,000,000) (2,000,000) (2,000,000)
TOTAL OTHER FINANCING SOURCES (USES)62,050$ (300,000)$ (600,000)$ (5,000,000)$ (2,000,000)$ (2,000,000)$ (2,000,000)$ (2,000,000)$
NET CHANGE IN FUND BALANCE 1,173,457$ 874,840$ 3,543,063$ (5,386,548)$ (150,000)$ 450,000$ 850,000$ 1,550,000$
BEGINNING FUND BALANCE 3,557,180$ 4,715,808$ 4,730,637$ 8,273,700$ 2,887,152$ 2,737,152$ 3,187,152$ 4,037,152$
ENDING FUND BALANCE 4,730,637$ 5,590,648$ 8,273,700$ 2,887,152$ 2,737,152$ 3,187,152$ 4,037,152$ 5,587,152$
West Thoroughfare Impact Fee Fund Summary
18
Hotel Occupancy Tax Fund
The Hotel Occupancy Tax Fund collects revenue from a 7% tax on hotel rooms rented in Prosper.
The revenue must be used to promote the town’s hotel industry. Eligible expenditures are
subject to a two-part test. They must put “heads in beds” and be included as one of the nine
categories allowed by state law.
19
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Sales Taxes - - - 57,125 201,783 220,110 238,437 256,764
Investment Income - - - 2,000 2,000 2,000 2,000 2,000
Other - - - - - - - -
TOTAL REVENUES -$ -$ -$ 59,125$ 203,783$ 222,110$ 240,437$ 258,764$
EXPENDITURES
Personnel - - - - - - - -
Development Agreement - - - 28,563 100,892 110,055 119,219 128,382
Other - - - - - - - -
TOTAL EXPENDITURES -$ -$ -$ 28,563$ 100,892$ 110,055$ 119,219$ 128,382$
Period Excess / (Deficit)-$ -$ -$ 30,563$ 102,892$ 112,055$ 121,219$ 130,382$
NET CHANGE IN FUND BALANCE -$ -$ -$ 30,563$ 102,892$ 112,055$ 121,219$ 130,382$
BEGINNING FUND BALANCE -$ -$ -$ -$ 30,563$ 133,454$ 245,509$ 366,728$
ENDING FUND BALANCE -$ -$ -$ 30,563$ 133,454$ 245,509$ 366,728$ 497,110$
Hotel Occupancy Tax Fund
20
Special Revenue Funds Description
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are normally
restricted to expenditures for specified purposes. The following funds have been consolidated and presented in
one summary.
Tree Mitigation Fee ‐ This fee is received from the development community in lieu of replanting trees, or
preserving existing trees per the Town's Tree Preservation ordinance.
Court Technology Fund ‐ This fund is to account for a misdemeanor offense and pay a technology fee of $4 as
technology cost of the Court. These funds are used to finance the purchase of, or to maintain technology
enhancements for the Municipal Court for the following: computer systems, networks, hardware and software,
electric kiosks, electronic ticket writers, and docket management systems.
Court Security Fund ‐ This fund is used to account for a misdemeanor offense and pay a $4.90 security fee as a
cost of the court. These funds are used to finance security personnel, services and items related to the facility
that house the operations of the municipal court.
Contributions Fund ‐ This fund is used to account for various special revenue sources. Typical revenues seen in
this fund would include Police Department donations, Fire Department donations, Police Seized funds, Child
Safety funds, and developer contributions.
Coronavirus Aid, Relief, and Economic Security (CARES Act Fund) American Rescue Plan Act (ARPA) Fund ‐ These
fund are used to account for grant funds awarded and expenditures related to the CARES act and the ARPA act.
The first round of ARPA funds was received in fiscal year 20/21 and the second round was received in fiscal
year 21/22. The funds are currently slated for expenditure in fiscal year 23/24 on a wastewater infrastructure
project. This will lead to a decrease in fund balance in the Special Revenue Funds.
21
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING YEAR
2025-2026
PLANNING YEAR
2026-2027
PLANNING YEAR
2027-2028
PLANNING YEAR
2028-2029
REVENUES Police Donations 21,656 15,500 17,000 15,500 15,500 15,500 15,500 15,500
Fire Donations 14,251 15,500 15,000 15,500 15,500 15,500 15,500 15,500
Child Safety Fees 20,956 28,000 28,000 28,000 25,000 25,000 25,000 25,000
Court Security Revenue 11,132 8,000 10,513 8,525 8,000 8,000 8,000 8,000
Municipal Jury Revenue 221 - 211 - - - - -
Court Technology Revenue 9,243 7,500 8,665 8,198 8,198 8,198 8,198 8,198
Tree Mitigation Revenue 1,340,081 - - 300,000 - - - -
Escrow Income 673,667 - 367,514 - - - - -
CARES Act/American Rescue Plan Act Revenue - - - - - - - -
Cash Seizures 12,070 - 6,130 - - - - -
Miscellaneous 2,416 3,000 8,800 3,000 - - - -
Interest Income 33,840 2,425 80,428 52,550 52,550 52,550 52,550 52,550
TOTAL REVENUES 2,139,532$ 79,925$ 542,261$ 431,273$ 124,748$ 124,748$ 124,748$ 124,748$
EXPENDITURES General Government 73,565 44,355 100,105 64,355 - - - -
CARES ACT/American Rescue Plan Act - - - - - - - -
Other - Escrow Funds 673,667 - 367,514 1,150,000 - - - -
TOTAL EXPENDITURES 747,232$ 44,355$ 467,619$ 1,214,355$ -$ -$ -$ -$
Period Excess / (Deficit)1,392,300$ 35,570$ 74,642$ (783,082)$ 124,748$ 124,748$ 124,748$ 124,748$
NET CHANGE IN FUND BALANCE 1,392,300$ 35,570$ 74,642$ (783,082)$ 124,748$ 124,748$ 124,748$ 124,748$
BEGINNING FUND BALANCE 963,965$ 515,371$ 2,356,265$ 2,430,907$ 1,647,825$ 1,772,573$ 1,897,321$ 2,022,069$
ENDING FUND BALANCE 2,356,265$ 550,941$ 2,430,907$ 1,647,825$ 1,772,573$ 1,897,321$ 2,022,069$ 2,146,817$
Special Revenue Fund Summary
22
Vehicle and Equipment Replacement Fund Description
The Town established the Vehicle and Equipment Replacement Fund (VERF) in Fiscal Year 2013‐2014 to
accumulate sufficient resources to replace existing vehicles and equipment when they reach or exceed their
useful life. The internal program was designed for departments to contribute annual payments to the fund based
on the number, type, average life expectancy, and the projected replacement cost of the vehicles/equipment.
The intent was for funds to be managed to purchase Town vehicles and equipment in a manner that would not
create a burden on the Town budget. Annual contributions are determined by amortizing the replacement cost
for the life expectancy of the vehicle/equipment and are allocated as charges for services from each department.
Balances at the department level are calculated each year and adjustments are made to replacement values as
needed. In addition to budgeted annual contributions, each department is credited for proceeds of auctioned
vehicles/equipment, as well as interest earned for the year. These proceeds are considered when determining
contribution needs for the following fiscal year.
23
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING
YEAR 2025-
2026
PLANNING
YEAR 2026-
2027
PLANNING
YEAR 2027-
2028
PLANNING
YEAR 2028-
2029
REVENUES Charges for Services 1,269,819 1,478,966 1,478,966 1,572,064 1,603,505 1,635,575 1,668,287 1,701,653
Auction Proceeds - 150,000 150,000 150,000 186,649 87,676 140,601 110,305
Interest Income 169,071 250,000 245,085 250,000 250,000 250,000 250,000 250,000
TOTAL REVENUES 1,438,890$ 1,878,966$ 1,874,051$ 1,972,064$ 2,040,155$ 1,973,252$ 2,058,888$ 2,061,957$
EXPENDITURES Technology Expenses 106,507 145,200 59,106 145,200 200,000 200,000 200,000 200,000
Equipment Expenses 30,243 203,870 318,906 526,908 552,178 100,448 28,289 27,311
Vehicle Expenses 282,016 772,500 1,169,936 1,866,492 876,762 1,406,010 1,103,047 2,414,026
TOTAL EXPENDITURES 418,766$ 1,121,570$ 1,547,948$ 2,538,600$ 1,628,941$ 1,706,458$ 1,331,336$ 2,641,337$
Period Excess / (Deficit)1,020,124$ 757,396$ 326,103$ (566,536)$ 411,214$ 266,794$ 727,552$ (579,380)$
NET CHANGE IN FUND BALANCE 1,020,124$ 757,396$ 326,103$ (566,536)$ 411,214$ 266,794$ 727,552$ (579,380)$
BEGINNING FUND BALANCE 7,457,023$ 4,505,130$ 8,477,147$ 8,803,250$ 8,236,714$ 8,647,927$ 8,914,721$ 9,642,273$
ENDING FUND BALANCE 8,477,147$ 5,262,526$ 8,803,250$ 8,236,714$ 8,647,927$ 8,914,721$ 9,642,273$ 9,062,893$
Vehicle and Equipment Replacement Fund Summary
24
DEPARTMENT MODEL YEAR MAKE MODEL
ESTIMATED
REPLACEMENT
COST
Vehicles
Police Operations 2017 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Police Operations 2020 Chevrolet Tahoe 117,366
Fire Operations 2017 Ford F250 Crew Cab 88,271
Fire Marshal 2017 Ford F150 Crew Cab 74,990
Building Inspections 2016 Chevrolet Silverado 1500 45,951 **
Building Inspections 2016 Chevrolet Silverado 1500 45,951 **
Building Inspections 2016 Chevrolet Silverado 1500 45,951 **
Building Inspections 2016 Chevrolet Silverado 1500 45,951 **
Building Inspections 2016 Chevrolet Silverado 1500 45,951 **
Public Works/Streets 2016 Ford F450 4X2 Crew Chas Cab DRW 84,500 **
Public Works/Streets 2016 Ford F550 4X4 Reg Chas Cab DRW 85,797 **
Park Operations 2017 Chevrolet 2500HD Silverado Ext Cab 56,206
Park Operations 2017 Chevrolet 3500HD Silverado 4X4 Crew Cab 115,000
Public Works/Water 2017 Chevrolet 1500 Silverado 4X4 Ext Cab 56,089
Public Works/Wastewater 2017 Chevrolet 1500 Silverado 4X4 Ext Cab 56,089
Public Works/Wastewater 2017 Chevrolet 3500HD Silverado 4X4 Crew Cab 95,780
Public Works/Const Insp 2017 Chevrolet 1500 Silverado 45,951
Public Works/Const Insp 2017 Chevrolet 1500 Silverado 4X4 Ext Cab 56,500
Total cost of vehicle replacements 1,866,492$
Equipment
Park Operations 2018 Land Pride All Flex Mower 25,786
Park Operations 2019 Z-Spray Max 16 HP Vanguard, 60 Gal, Spray 21,239
Park Operations 2019 Toro Toro GM4500 TIV 96,828
Park Operations 2019 Toro Toro Workman GTX 16,000
Park Operations 2019 Toro SandPro 3040 28,990
Park Operations 2019 Toro Toro LCE Turboforce Deck 15,707
Park Operations 2019 Toro Toro LCE Turboforce Deck 15,707
Park Operations 2019 Trimax Trimax Snake320 44,040
Park Operations 2019 Toro SandPro 3040 28,990
Public Works/Water 2015 John Deere Model 310L 122,453
Public Works/Wastewater 2015 Rovver X 130 Truck Mount System 111,168
Total cost of equipment replacements 526,908$
Total cost of all replacements 2,393,400$
**Previously Deferred From FY24
Vehicle and Equipment Replacement Listing
Items to be replaced in Fiscal Year 2024-2025
25
Health Insurance Trust Fund Description
The Town of Prosper initiated a self‐funded health and dental plan effective January 1, 2017 for Town employees
and their dependents. The Town maintains the Employee Health Insurance Trust Fund to account for the Town's
employee health and dental care coverage. In addition, excess insurance has been obtained for an individual unit
health and prescription drug claims exceeding $100,000. The Town's claim administrator is UMR for
medical claims and Pro-Act for pharmacy claims.
26
FUND ACCOUNT TYPE
ACTUAL
2022-2023
ORIGINAL
2023-2024
ADOPTED
AMENDED
2023-2024
ADOPTED
BUDGET
2024-2025
PLANNING
YEAR
2025-2026
PLANNING
YEAR
2026-2027
PLANNING
YEAR
2027-2028
PLANNING
YEAR
2028-2029
REVENUES Employer Contributions 2,957,217 3,922,365 3,961,101 4,136,107 4,342,912 4,560,058 4,788,061 5,027,464
Employee Contributions 895,538 949,443 949,443 1,006,410 1,066,794 1,130,802 1,198,650 1,270,569
Investment Income 23,726 5,000 30,442 20,000 20,000 20,000 20,000 20,000
Cobra and Stop Loss Reimbursements 420,295 250,000 308,837 300,000 250,000 250,000 250,000 250,000
TOTAL REVENUES 4,296,776$ 5,126,808$ 5,249,823$ 5,462,517$ 5,679,708$ 5,960,859$ 6,256,710$ 6,568,033$
EXPENDITURES Operating Expenses 479,364 389,664 420,851 450,000 472,500 496,125 520,931 546,978
Claims 3,794,825 4,303,852 4,303,852 4,497,525 4,722,402 4,958,522 5,206,448 5,466,770
Insurance 323,102 419,423 419,423 419,423 432,006 444,966 458,315 472,064
Wellness Program - 6,000 6,000 6,000 6,000 6,000 6,000 6,000
TOTAL EXPENDITURES 4,597,291$ 5,118,939$ 5,150,126$ 5,372,948$ 5,632,907$ 5,905,613$ 6,191,694$ 6,491,812$
Period Excess / (Deficit)(300,514)$ 7,869$ 99,697$ 89,568$ 46,799$ 55,246$ 65,017$ 76,221$
NET CHANGE IN FUND BALANCE (300,514)$ 7,869$ 99,697$ 89,568$ 46,799$ 55,246$ 65,017$ 76,221$
BEGINNING FUND BALANCE 909,573$ 552,615$ 609,059$ 708,756$ 798,324$ 845,123$ 900,371$ 965,387$
ENDING FUND BALANCE 609,059$ 560,484$ 708,756$ 798,324$ 845,123$ 900,371$ 965,387$ 1,041,607$
Months of Claims Expense in Reserve 1.93 1.56 1.98 2.13 2.15 2.18 2.23 2.29
Health Insurance Fund Summary
27
28
CAPITAL
PROJECTS FUNDS
Capital Projects Funds
The Capital Project Funds account for financial resources to be used for the acquisition or
construction of major capital assets, infrastructure, and facilities. The Governmental Capital
Projects Fund consists of Streets, Parks, and Public Safety projects. The Enterprise Capital
Projects Fund consists of Water, Wa stewater, and Drainage projects. These funds are budgeted
on a project basis as the project expenditures normally cross over fiscal years and the
appropriation stay open until the project is complete.
3
CAPITAL IMPROVEMENTS PROGRAM
GOVERNMENTAL CAPITAL PROJECTS FUND
FISCAL YEAR 2025
27,612,600$
(3,038,543)
34,218,093
1,127,130
737,255
2,800,000
2,200,000
2,200,000
640,000
1,555,598
75,300
36,407,062
(105,914,560)
619,935
230,000
1,700,000
7,500,000
2,730,050
695,000
500,000
3,000,000
9,600,000
19,450,000
7,797,062
53,202,112
Resources:
Current FY 24 Resources as of 7/31/24
Cash
Liabilities
Unspent Prior Year Bond Funds
Pending Interest
Pending Park Fee Transfer
Collin County Intersection Improvement Grant
Denton County Bond Program
TxDOT Reimbursement
NTCOG Grant
PISD Roadway Contribution
Escrow Funds to be Received
2024 GO Bonds
Remaining unspent budget amount for projects in
process
Net unobligated balances and contingencies
Projected FY25 Resources:
Arestia Reimbursement
Denton County Bond Program
Impact Fee Transfers
Park Fee Transfers
Collin County Open Spaces Grants
Escrow Transfers
Interest Income
Capital Dedicated Funds
Projected 2025 GO Bonds
Intent to Reimburse Future Bond Issuance
Total Future Resources
Funds available to be committed 53,822,047
4
Additional Projects:
Streets Projects:
First Street (Elem - DNT)709,000
Coit Road (First - Frontier) - 4 Lanes 20,000,000
Legacy (Prairie - Fishtrap) - 4 lanes 800,000
Prosper Trail (Coit - Custer) 2 WB Lanes 500,000
Gee Road (US 380 - FM 1385) - 2 WB Lanes 1,700,000
Coleman (Prosper Trail - Talon) - 2 SB Lanes 1,500,000
Legacy (First St. - Prosper Trail) 2SB Lanes
(Park Place DA)200,000
Legacy (First St. - Prosper Trail) 2SB Lanes (Star
Trail DA)550,000
First Street (Coleman - Craig)2,000,000
Craig Street (Preston - Fifth)300,000
Prosper Trail (Legacy - DNT)1,200,000
DNT Main Lanes (US 380 - FM 428)5,114,124
Traffic Signal - First & Artesia 460,000
Traffic Signal - Teel & Prairie 460,000
Traffic Improvement Projects 1,500,000
Traffic Signal Comunications Program Phase 2 of
2 495,000
Traffic Signal - Legacy & Prairie 525,000
Parks Projects:
Downtown Park (Broadway/Parvin)
(Construction)750,000
Doe Branch Trail Connections 500,000
Raymond Community Park, Phase 1 2,100,000
Playgr. Shade Struct.-Pecan Grove, Preston
Lakes, Prairie Pk 160,000
Pecan Grove Park Trail - (Grant Match $129k)248,798
Whitley Place Meadow Park Pavilion - (Grant
Match $118k)218,130
Raymond Comm. Park, Trail/Bridge (Grant Match
$448k)848,122
Frontier Park Concrete Repairs 120,000
Parks & Recreation Admin Facility Parking Lot
Paving 80,000
Lakewood Park 485,000
Downtown Improvements 1,000,000
Doe Branch Property Masterplan 140,000
Doe Branch Property Six Creek Crossing 650,000
Facility Projects:
Fire Station #4 (Other Development Costs)700,000
Fire Station #4 (Construction)1,025,000
Fire Station #4 (FF&E)775,000
Parks and Public Works, Phase 1 2,352,938
Public Safety Fiber Ring 1,000,000
Fire Station #3 Upgrades and Repairs 190,000
Town Hall Repairs - N. Parking Lot & Front Steps
& Fountain 273,000
Unprogrammed:
Unprogrammed Streets Projects 800,000
Unprogrammed Parks Projects 800,000
Unprogrammed Public Safety Projects 592,935
Total Additional Projects 53,822,047
PROJECTED REMAINING UNOBLIGATED
FUND BALANCE 0
5
CAPITAL IMPROVEMENTS PROGRAM
ENTERPRISE CAPITAL PROJECTS FUND
FISCAL YEAR 2025
14,828,608$
(822,768)
16,688,942
433,333
1,499,905
360,000
31,250,000
(84,738,932)
(20,500,913)
214,081
800,000
4,500,000
50,000
2,000,000
3,531,622
33,896,633
49,697,259
94,689,595
74,188,682
1810wa 3,500,000
2114wa 5,000,000
2312wa 2,560,993
460,000
2103ww 8,853,327
2203ww 3,000,000
2322ww 49,946,277
2323ww 531,622
50,000
286,463
74,188,682
Resources:
Current FY 24 Resources as of 7/31/24
Cash
Liabilities
Unspent Prior Year Bond Funds
Pending Interest
Pending Impact Fee Transfer
ARPA Interest
2024 CO Bonds
Remaining unspent budget amount for projects
in process
Net unobligated balances and contingencies
Projected FY25 Resources:
EDA Grant
Interest Income
Water/Wastewater Fund Transfers
Drainage Fund Transfers
Water Impact Fee Transfers
Wastewater Impact Fee Transfers
Projected 2025 CO Bonds
Intent to Reimburse Future Bond Issuance
Total Future Resources
Funds available to be committed
Additional Projects:
Water Projects:
FM 1461 12in Water Line Relocation -
Constuction
Parks & Public Works Facility - Construction
6MG Ground Storage Tank - Construction
Craig St 2MG EST Rehabilitation - Design
Wastewater Projects:
Doe Branch Parallel Interceptor - Design &
Construction
Upper Doe Branch WW Line (Teel-PISD
Stadium) - Construction
Doe Branch, Phase 3 WWTP - Design &
Construction
Denton ISD WW Line Reimbursement - Design
& Construction
Stormwater Drainage Projects:
Old Town Regional Detention Pond #2 - Design
Unprogrammed:
Unprogrammed Water/wastewater Projects
Total Additional Projects
PROJECTED REMAINING UNOBLIGATED
FUND BALANCE 0
6
MULTI-YEAR
CAPITAL PLAN
Five‐Year Capital Improvement Program
The five‐year CIP is an integral part of the Town’s strategic project planning process related to capital
infrastructure for streets, traffic improvements, parks, Town facilities, water, wastewater and drainage lines.
Working in conjunction with community officials and community stakeholders, Town staff periodically
evaluates the various capital infrastructure needs of the community for inclusion in the annual update of the
Capital Improvement Program. Based on the needs identified, the recommended timing and funding for each
project is prioritized by the CIP Subcommittee and by Town Council annually during the budget process.
Upon direction by the Town Council, the final Capital Improvement Program is adopted with the annual
operating and capital budgets. Operating budgets are funded by current revenues, while the capital budgets
are funded from various sources, including impact fees, developer contributions, one‐time uses of surplus
fund balance or from debt proceeds. Debt service payments for the retirement of debts are built into the
operating budgets by allocating I&S property taxes and transfers from other sources. The following pages
outline the projected needs for the Town.
3
4
CIP Project Prior Yrs FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 TOTAL
STREET:
Preston Road / First Street Dual Left Turns $ 900 900$
Safety Way (Cook - Technology) $ 800 800$
Gorgeous/McKinley: (LIV Development Agreement) $ 700 700$
First Street (DNT - Coleman) $ 24,787 24,787$
First Street (Elem - DNT) $ 30,896 709$ 31,605$
Windsong Parkway/US 380 Dual Left Turns $ 153 153$
Coit Road (First - Frontier) - 4 Lanes $ 7,790 20,000$ 27,790$
DNT Main Lanes (US 380 - FM 428)2,557$ 5,114$ 5,500$ 13,171$
Legacy (Prairie - Fishtrap) - 4 lanes $ 10,625 800$ 11,425$
US 380 Decelerations Lanes - Denton County $ 500 $ 500 1,000$
Teel (US 380 - Fishtrap) - 2 NB lanes $ 5,850 5,850$
Fifth Street Quiet Zone $ 500 500$
Prosper Trail (Coit - Custer) - 2 WB Lanes $ 900 $ 500 $ 12,550 13,950$
Gee Road (US 380 - FM 1385) - 2 WB Lanes $ 2,200 $ 1,700 $ 18,000 21,900$
Coleman (Gorgeous - Prosper Trail) - 4 Lanes $ 1,500 $ 7,500 9,000$
Coleman (Prosper Trail - Talon) - 2 SB Lanes $ 720 $ 1,500 $ 5,000 7,220$
Legacy (First St. - Prosper Trail) 2 SB Lanes (Park Place DA) $ 200 200$
Legacy (First St. - Prosper Trail) 2 SB Lanes (Star Trail DA) $ 550 550$
Star Trail, Phase 5: Street Repairs $ 1,450 1,450$
Frontier Parkway (Legacy - DNT) $ 300 $ 1,000 $ 6,000 7,300$
First Street (Coleman - Craig) $ 500 $ 2,000 $ 10,500 13,000$
Craig Street (Preston - Fifth) $ 450 $ 300 $ 3,000 3,750$
Parvin (FM 1385 - Legacy) $ 500 500$
Coleman (First - Gorgeous) - 4 Lanes $ 660 $ 800 1,460$
Teel Parkway (First - Freeman) $ 800 $ 9,500 10,300$
Prosper Trail (Legacy - DNT) $ 1,200 $ 2,500 3,700$
Unprogrammed Future Projects $ 800 800$
TOTAL STREET 96,038$ 35,373$ 60,350$ 16,000$ -$ 6,000$ 213,761$
TRAFFIC:
Median Lighting US 380 (Mahard - Lovers Ln) $ 300 300$
Traffic Signal - First & Artesia $ 65 460$ 525$
Traffic Signal - DNT & Frontier Parkway $ 282 282$
Traffic Signal - Teel & Prairie $ 65 460$ 525$
Traffic Signal - Denton Way / Fishtrap $ 350 350$
Traffic Signal - Acacia Parkway / Gee Road $ 503 503$
Traffic Signal First Street/Legacy Drive $ 578 578$
First/Copper Canyon Ped. Hybrid Beacons (HAWK) $ 259 259$
First/Chaucer Ped. Hybrid Beacons (HAWK) $ 259 259$
Gee/Lockwood Ped. Hybrid Beacons (HAWK) $ 259 259$
Traffic Improvement Projects $ 1,500 1,500$
Traffic Signal Comunications Program Phase 2 of 2 495$ 495$
Traffic Signal - Legacy & Prairie 525$ 525$
Traffic Signal - First Street & La Cima 525$ 525$
Traffic Signal - Richland Blvd. & Walmart/Pandera 525$ 525$
TOTAL TRAFFIC 2,921$ 3,440$ -$ -$ -$ 1,050$ 7,411$
FY 2025 - FY 2029 Capital Improvement Program ($000's)
General Fund Projects
5
CIP Project Prior Yrs FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 TOTAL
PARK:
Windsong Park #3 750$ 750$
Lakewood Preserve, Phase 2 (22 Acres/Lights)5,102$ 485$ 5,587$
Downtown Park (Broadway/Parvin)408$ 750$ 1,158$
Star Trail Park #3 (7.5 Acres/No Lights) 535$ 535$
Town Hall Open Space 200$ 200$
Playgr. Shade Struct.-Pecan Grove, Preston Lakes, Prairie Pk 160$ 160$
Pecan Grove Park Trail - (Grant Match $129k)249$ 249$
Whitley Place Meadow Park Pavilion - (Grant Match $118k)218$ 218$
Doe Branch Trail Connections 1,684$ 500$ 2,184$
Windsong H&B Trail Ph 6A and 10 1,787$ 495$ 2,282$
Various Hike and Bike Trails 581$ 581$
Downtown Improvements 553$ 1,000$ 1,553$
Downtown Monumentation 67$ 67$
Prosper Parking Lot and Alley Improvements 123$ 123$
Raymond Community Park, Phase I 19,800$ 2,100$ 21,900$
Raymond Comm. Park, Trail/Bridge (Grant Match $448k)848$ 848$
Frontier Park Pond Repairs 473$ 473$
Frontier Park Concrete Repairs 120$ 120$
Parks & Recreation Admin Facility Parking Lot Paving 80$ 80$
Doe Branch Property Masterplan 140$ 140$
Doe Branch Property Six Creek Crossing 650$ 650$
US 380 Green Ribbon Lndscp- Irrigation (Lovers - Mahard)2,295$ 2,295$
Prosper Trail Screening (Preston - Deer Run)750$ 750$
Doe Branch Creek Erosion Control 225$ 225$
Parks, Recreation, and Open Space Master Plan Update 140$ 140$
Unprogrammed Future Projects 800$ 800$
TOTAL PARK 34,737$ 9,130$ 200$ -$ -$ -$ 44,067$
FACILITY:
Library Master Plan 130$ 130$
Fire Station #4: (Design)966$ 966$
Fire Station #4: (Oher Development Costs)8$ 700$ 708$
Fire Station #4: (Construction)10,200$ 1,025$ 11,225$
Fire Station #4: (FF&E)775$ 775$
Fire Station #3 Upgrades and Repairs 190$ 190$
Town Hall Repairs - N. Parking Lot & Front Steps & Fountain 273$ 273$
Parks and Public Works, Phase 1 3,450$ 2,353$ 5,397$ 11,200$
Public Safety Fiber Ring 1,000$
Public Safety Training Facility, Phase 1 750$ 6,750$ 7,500$
Unprogrammed Future Public Safety 593$ 593$
TOTAL FACILITY 14,754$ 6,909$ 6,147$ -$ 6,750$ -$ 33,560$
TOTAL GENERAL FUND PROJECTS 148,451$ 54,852$ 66,697$ 16,000$ 6,750$ 7,050$ 298,800$
FY 2025 - FY 2029 Capital Improvement Program ($000's)
General Fund Projects (continued)
6
CIP Project Prior Yrs FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 TOTAL
WATER:
LPP Pump Station and LPP WL Phase 2 $ 18,931 18,931$
LPP WaterLine Phase, 2A $ 9,000 9,000$
FM 1461 12-inch Water Line Relocation 3,400$ 3,500$ 6,900$
Parks and Public Works, Phase 1 600$ 5,000$ 5,600$
Ground Storage 6 MG Tank 5,539$ 2,561$ 8,100$
Craig Street 2 MG EST Rehabilitation 460$ $ 2,540 3,000$
Unprogrammed Future Water/Wastewater 286$ 286$
TOTAL WATER 37,470$ 11,807$ 2,540$ -$ -$ -$ 51,817$
WASTEWATER:
Doe Branch Parallel Interceptor 7,400$ 8,853$ 16,253$
Upper Doe Branch WW Line (Teel - PISD Stadium)5,025$ 3,000$ 8,025$
Doe Branch, Phase 3 WWTP 55,000$ 49,946$ 104,946$
Denton ISD WW Line Reimbursement 532$ 532$
TOTAL WASTEWATER 67,425$ 62,331$ -$ -$ -$ -$ 129,756$
TOTAL WATER and WASTEWATER 104,895$ 74,138$ 2,540$ -$ -$ -$ 181,573$
Drainage:
Old Town Regional Detention Pond # 2 48$ 50$ $ 300 398$
TOTAL DRAINAGE 48$ 50$ 300$ -$ -$ -$ 398$
TOTAL ENTERPRISE FUND PROJECTS 104,943$ 74,188$ 2,840$ -$ -$ -$ 181,972$
FY 2025 - FY 2029 Capital Improvement Program ($000's)
Enterprise Fund Projects
7
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 2118-ST Preston Road / First Street Dual Left Turns: (Design)100,000 100,000 100,000 01
02 2118-ST Preston Road / First Street Dual Left Turns: (Construction)800,000 800,000 800,000 B 02
03 2303-ST Safety Way (Cook - Technology): (MOU approved July 19, 2022)800,000 800,000 800,000 L 03
04 2304-ST Gorgeous/McKinley: (LIV Development Agreement)700,000 700,000 700,000 L 04
05 1512-ST First Street (DNT - Coleman): (Design)2,786,567 2,786,567 2,786,567 A,D 05
06 1512-ST First Street (DNT - Coleman): (Land/Esmt)3,000,000 3,000,000 1,775,000 1,225,000 D 06
07 1512-ST First Street (DNT - Coleman): (Construction)19,000,000 19,000,000 18,000,000 1,000,000 L 9,000,000 9,000,000 07
08 2012-ST Fishtrap (Elem - DNT) - 4 lanes: (Design)1,057,380 1,057,380 857,380 200,000 A,D,K 08
09 2012-ST Fishtrap (Elem - DNT) - 4 lanes: (Land/Esmt)1,700,000 1,700,000 1,700,000 09
10 2012-ST Fishtrap (Elem - DNT) - 4 lanes: (Construction)28,138,549 709,000 28,847,549 27,946,950 900,599 A,K,L 650,000 10
11 2331-ST Windsong Parkway/US 380 Dual Left Turns (Design)22,800 22,800 22,800 L 11
12 2331-ST Windsong Parkway/US 380 Dual Left Turns (Construction)130,000 130,000 130,000 L 12
13 1710-ST Coit Road (First - Frontier) - 4 lanes: (Design)1,289,900 1,289,900 1,289,900 A,X 13
14 1710-ST Coit Road (First - Frontier) - 4 lanes: (Land/Esmt)2,500,000 2,500,000 2,500,000 1,700,000 14
15 1710-ST Coit Road (First - Frontier) - 4 lanes: (Construction)4,000,000 20,000,000 24,000,000 18,797,062 5,202,938 B,I,L 8,950,000 7,797,062 15
16 1937-ST DNT Main Lane (US 380 - FM 428): (Construction)2,557,062 5,114,124 5,500,000 13,171,186 8,057,062 5,114,124 L,X,Z 2,557,062 16
17 2143-ST Legacy (Prairie - Fishtrap) - 4 lanes: (Design)850,000 850,000 850,000 D 17
18 2143-ST Legacy (Prairie - Fishtrap) - 4 lanes: (Land/Esmt)575,000 575,000 575,000 L 18
19 2143-ST Legacy (Prairie - Fishtrap) - 4 lanes: (Construction)9,200,000 800,000 10,000,000 10,000,000 A 3,000,000 19
20 2302-ST US 380 Deceleration Lanes - Denton County: (Construction)500,000 500,000 1,000,000 1,000,000 L 20
21 2153-ST Teel (US 380 - Fishtrap) - 2 NB lanes: (Design)750,000 750,000 750,000 D 21
22 2153-ST Teel (US 380 - Fishtrap) - 2 NB lanes: (Construction)5,100,000 5,100,000 1,400,000 3,700,000 L,Z 1,400,000 22
23 1925-TR Fifth Street Quiet Zone 500,000 500,000 500,000 L 23
24 2326-ST Prosper Trail (Coit - Custer) - 2 WB lanes: (Design)900,000 900,000 900,000 A,L,Z 400,000 24
25 2326-ST Prosper Trail (Coit - Custer) - 2 WB lanes: (Land/Esmt)500,000 500,000 500,000 A 500,000 25
26 2326-ST Prosper Trail (Coit - Custer) - 2 WB lanes: (Construction)12,550,000 12,550,000 12,550,000 12,550,000 26
27 2310-ST Gee Road (US 380 - FM 1385) - 2 NB lanes: (Design)2,200,000 2,200,000 2,200,000 B 27
28 2310-ST Gee Road (US 380 - FM 1385) - 2 NB lanes: (Land/Esmt)1,700,000 1,700,000 1,700,000 B,Z 28
29 2310-ST Gee Road (US 380 - FM 1385) - 2 NB lanes: (Construction)18,000,000 18,000,000 18,000,000 B,Z 29
30 2141-ST Coleman (Gorgeous - Prosper Trail) - 4 lanes: (Design)900,000 900,000 900,000 D 30
31 2141-ST Coleman (Gorgeous - Prosper Trail) - 4 lanes: (Land/Esmt)600,000 600,000 350,000 250,000 D 31
32 2141-ST Coleman (Gorgeous - Prosper Trail) - 4 lanes: (Construction)7,500,000 7,500,000 7,500,000 4,000,000 32
33 2142-ST Coleman (Prosper Trail - Talon) - 2 SB lanes: (Design w/ 2141-ST)0 33
34 2142-ST Coleman (Prosper Trail - Talon) - 2 SB lanes: (Land/Esmt)720,000 1,500,000 2,220,000 1,845,000 375,000 D 1,500,000 34
35 2142-ST Coleman (Prosper Trail - Talon) - 2 SB lanes: (Construction)5,000,000 5,000,000 2,700,000 2,300,000 Z 2,700,000 35
36 2314-ST Legacy (Fishtrap - Prosper Trail) - 2 SB lanes: (Park Place DA)200,000 200,000 200,000 36
37 2315-ST Legacy (Fishtrap - Prosper Trail) - 2 SB lanes: (Star Trail DA)550,000 550,000 550,000 37
38 2325-ST Star Trail, Phase 5: Street Repairs 1,450,000 1,450,000 1,450,000 L 38
39 2311-ST Frontier Parkway (Legacy - DNT): (Design)300,000 300,000 300,000 39
40 2311-ST Frontier Parkway (Legacy - DNT): (Construction)6,000,000 6,000,000 6,000,000 6,000,000 40
41 2311-ST Frontier Parkway (Legacy - DNT): (Construction) (DNT Intersection)1,000,000 1,000,000 1,000,000 L 41
42 2305-ST First Street (Coleman - Craig): (Design)500,000 500,000 500,000 L 42
43 2305-ST First Street (Coleman - Craig): (Land/Esmt)2,000,000 2,000,000 2,000,000 A 2,000,000 43
44 2305-ST First Street (Coleman - Craig): (Construction)10,500,000 10,500,000 10,500,000 10,500,000 44
45 2140-ST Craig Street (Preston - Fifth): (Design)369,600 369,600 369,600 45
46 2140-ST Craig Street (Preston - Fifth): (Land/Esmt)80,400 300,000 380,400 80,400 300,000 A 46
47 2140-ST Craig Street (Preston - Fifth): (Construction)3,000,000 3,000,000 3,000,000 Z 47
48 2208-ST Parvin (FM 1385 - Legacy): (Design)500,000 500,000 500,000 48
49 2208-ST Parvin (FM 1385 - Legacy): (Land/Esmt)2,000,000 2,000,000 2,000,000 2,000,000 49
50 2208-ST Parvin (FM 1385 - Legacy): (Construction)31,000,000 31,000,000 31,000,000 B,Z 50
51 2411-ST Coleman (First - Gorgeous): (Design)660,000 660,000 660,000 51
52 2411-ST Coleman (First - Gorgeous): (Land/Esmt)800,000 800,000 800,000 52
53 2411-ST Coleman (First - Gorgeous): (Construction)8,000,000 8,000,000 8,000,000 53
54 2415-ST Teel Parkway (First - Freeman): (Design)800,000 800,000 800,000 54
55 2415-ST Teel Parkway (First - Freeman): (Land/Esmt)500,000 500,000 500,000 55
56 2415-ST Teel Parkway (First - Freeman): (Construction)9,000,000 9,000,000 9,000,000 56
57 2421-ST Prosper Trail (Legacy - DNT): (Design)1,200,000 1,200,000 1,200,000 A 57
58 2421-ST Prosper Trail (Legacy - DNT): (Land/Esmt)2,500,000 2,500,000 2,500,000 A 58
59 2421-ST Prosper Trail (Legacy - DNT): (Construction)15,500,000 15,500,000 15,500,000 59
60 Remaining Proposition 3: GO Bond Funds 0 60
Unprogrammed Future Projects 800,000
PARTNER ENTITY PROJECTS NOT PAID BY TOWN AND EXCLUDED FROM TOTAL
01 US 380 (US 377 - Denton County Line)178,105,000 178,105,000 178,105,000 D,X 01
02 FM 1461 (SH 289 - CR 165)525,000 45,190,870 45,715,870 45,715,870 A,X 02
03 DNT Main Lane (US 380 - FM 428): (Design)312,821,815 312,821,815 312,821,815 X 03
96,037,258 35,373,124 60,350,000 16,000,000 0 6,000,000 56,500,000 269,460,382 183,914,921 85,545,461 15,307,062 19,450,000 20,397,062 12,550,000 10,500,000 6,000,000 2,000,000
Design 11,199,680 1,200,000 0 0 0 0 0 12,399,680 CO Bond Debt 0 0 0 0 0 0 0
Construction 69,925,611 26,623,124 56,550,000 16,000,000 0 6,000,000 54,500,000 229,598,735 GO Bond Debt 15,307,062 19,450,000 20,397,062 12,550,000 10,500,000 6,000,000 2,000,000
Design & Construction 5,736,567 1,550,000 0 0 0 0 0 6,486,567 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements 9,175,400 6,000,000 3,800,000 0 0 0 2,000,000 20,975,400
##A Impact Fees D General Fund G Park Development Fund J TIRZ #2 X Non-Cash Contributions
##B Grant and Interlocal Funds E Water / Wastewater Fund H TIRZ #1 K Escrows Z Other Sources (See Detail)
##C Developer Agreements F Stormwater Drainage Fund I Interest L Capital Dedicated
General Fund Projects
IndexIndexStreet Projects
Subtotal
Unissued Debt ScheduleFunding Sources
Restricted
01Summary of Capital Improvement Program - 2024-07-24 Working Copy
Description Codes - Other Sources
Un-Restricted
8
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 2211-TR Median Lighting US 380 (Mahard - Lovers Ln): (Construction)300,000 300,000 300,000 A 01
02 2101-TR Traffic Signal - Fishtrap & Artesia Boulevard: (Design)65,000 65,000 32,500 32,500 B,L 02
03 2101-TR Traffic Signal - Fishtrap & Artesia Boulevard: (Construction)460,000 460,000 230,000 230,000 B,L 03
04 2317-TR Traffic Signal - DNT/Frontier: (Design)81,500 81,500 81,500 L,Z 04
05 2317-TR Traffic Signal - DNT/Frontier: (Construction)200,000 200,000 200,000 L,Z 05
06 2318-TR Traffic Signal - Teel Pkway & Prairie Drive: (Design)65,000 65,000 65,000 L 06
07 2318-TR Traffic Signal - Teel Pkway & Prairie Drive: (Construction)460,000 460,000 460,000 L 07
08 2422-TR Traffic Signal - Denton Way/Fishtrap: (Design)49,500 49,500 49,500 08
09 2422-TR Traffic Signal - Denton Way/Fishtrap: (Construction)300,000 300,000 300,000 09
10 2402-TR Traffic Signal Acacia Parkway / Gee Road (Construction)503,480 503,480 460,000 43,480 L 10
11 2404-TR Traffic Signal First Street/Legacy Drive (Construction)578,333 578,333 578,333 L 11
12 2418-TR First/Copper Canyon Ped. Hybrid Beacons (HAWK System) (Ds&Con)259,200 259,200 259,200 L 12
13 2419-TR First/Chaucer PedestrianHybrid Beacons (HAWK System) (Ds&Con)259,200 259,200 259,200 L 13
14 2417-TR Gee/Lockwood Pedestrian Hybrid Beacons (HAWK System) (Ds&Con)259,200 259,200 251,880 7,320 L 14
15 2335-TR Traffic Improvement Projects 1,500,000 1,500,000 495,000 1,005,000 L 15
16 Traffic Signal Communications Program Phase 2 of 2 495,000 495,000 495,000 L 16
17 Traffic Signal - Legacy & Prairie: (Design)65,000 65,000 65,000 L 17
18 Traffic Signal - Legacy & Prairie: (Construction)460,000 460,000 460,000 L 18
19 Traffic Signal - First Street & La Cima: (Design)65,000 65,000 65,000 65,000 19
20 Traffic Signal - First Street & La Cima: (Construction)460,000 460,000 460,000 460,000 20
21 Traffic Signal - Richland Blvd & Walmart/Pandera: (Design)65,000 65,000 65,000 A 21
22 Traffic Signal - Richland Blvd & Walmart/Pandera: (Construction)460,000 460,000 460,000 A 22
2,920,413 3,440,000 0 0 0 1,050,000 0 7,410,413 2,643,880 4,766,533 0 0 0 0 0 525,000 0
Design 211,500 525,000 0 0 0 130,000 0 866,500 CO Bond Debt 0 0 0 0 0 0 0
Construction 1,931,313 920,000 0 0 0 920,000 0 3,771,313 GO Bond Debt 0 0 0 0 0 525,000 0
Design & Construction 777,600 1,995,000 0 0 0 0 0 2,772,600 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements 0 0 0 0 0 0 0 0
##A Impact Fees D General Fund G Park Development Fund J TIRZ #2 X Non-Cash Contributions
##B Grant and Interlocal Funds E Water / Wastewater Fund H TIRZ #1 K Escrows Z Other Sources (See Detail)
##C Developer Agreements F Stormwater Drainage Fund I Interest L Capital Dedicated IndexSummary of Capital Improvement Program - 2024-07-24 Working Copy 02General Fund Projects
Subtotal
Traffic ProjectsIndex Funding Sources
Restricted Un-Restricted
Unissued Debt Schedule
Description Codes - Other Sources
9
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
Neighborhood Park
01 2245-PK Windsong Park #3: (Design)100,000 100,000 100,000 G 01
02 2245-PK Windsong Park #3: (Construction)650,000 650,000 650,000 C 02
03 2107-PK Lakewood Preserve, Phase 2 (22 Acres/Lights): (Construction)5,102,255 485,000 5,587,255 4,042,255 1,545,000 D,G,I,Z 03
03 2319-PK Downtown Park (Broadway/Parvin): (Design)50,000 50,000 50,000 G 03
04 2319-PK Downtown Park (Broadway/Parvin): (Construction)358,240 750,000 1,108,240 750,000 358,240 D,G 04
05 Star Trail Park #3 (7.5 Acres/ No Lights): (Construction)535,000 535,000 535,000 C 05
06 Town Hall Open Space: (Design)200,000 200,000 200,000 200,000 06
07 Town Hall Open Space: (Construction)1,810,000 1,810,000 1,810,000 1,810,000 07
08 Playground Shade Structures-Pecan Grove, Preston Lakes, Prairie Park 160,000 160,000 160,000 I 08
09 Pecan Grove Park, Trail - Grant Matching 248,798 248,798 248,798 G,Z 09
10 Whitley Place Meadow Park Pavilion - Grant Matching 218,130 218,130 218,130 G,Z 10
11 Downtown Event Space: (Design)1,250,000 1,250,000 1,250,000 1,250,000 11
12 Downtown Event Space: (Construction)11,250,000 11,250,000 11,250,000 11,250,000 12
13 Rutherford Park: (Design)500,000 500,000 500,000 500,000 13
14 Rutherford Park: (Construction)4,500,000 4,500,000 4,500,000 4,500,000 14
15 Un-named Neighborhood Park: (Design)200,000 200,000 200,000 200,000 15
16 Un-named Neighborhood Park: (Construction)930,000 930,000 930,000 930,000 16
17 Remaining Proposition B: GO Bond Funds 710,680 710,680 710,680 710,680 17
Trails 00
18 2120-PK Doe Branch Trail Connections 1,684,000 500,000 2,184,000 1,684,000 500,000 K 18
19 2147-PK Windsong H&B Trail Ph 6A and 10: (Construction)1,786,572 495,000 2,281,572 2,281,572 C 19
20 Prosper Center Park Trail Connection 900,000 900,000 900,000 Z 20
21 2337-PK Various Hike and Bike Trails 580,680 419,320 1,000,000 419,320 580,680 Z 1,000,000 21
Downtown Improvements 0 00
22 2420-PK Downtown Improvements 553,389 1,000,000 1,553,389 1,000,000 553,389 D,I 22
23 2416-PK Downtown Monumentation 66,500 66,500 66,500 D 23
24 2403-ST Prosper Parking Lot and Alley Improvements 122,500 122,500 122,500 D 24
Community Park 00
25 2122-PK Raymond Community Park, Phase 1: (Design)1,200,000 1,200,000 1,200,000 25
26 2122-PK Raymond Community Park, Phase 1: (Construction)18,600,000 2,100,000 20,700,000 20,100,000 600,000 I, L 10,900,000 26
27 Raymond Community Park, Trail / Bridge - Grant Matching 848,122 848,122 848,122 G, Z 27
28 2327-PK Froniter Park Pond Repairs 473,000 473,000 473,000 L 28
29 Frontier Park Concrete Reparis 120,000 120,000 120,000 29
30 Parks & Recreation Admin Facility Parking Lot Paving 80,000 80,000 80,000 Z 30
31 Community Park - Prosper Trail 55 acres: (Design)3,000,000 3,000,000 3,000,000 3,000,000 31
32 Community Park - Prosper Trail 55 acres: (Construction)27,000,000 27,000,000 27,000,000 27,000,000 32
33 Doe Branch Property Masterplan 140,000 140,000 140,000 G 33
34 Doe Branch Property Six Creek Crossings (Design)135,000 135,000 135,000 G 34
35 Doe Branch Property Six Creek Crossings (Construction)515,000 515,000 515,000 G 35
36 Doe Branch - 161 acres: (Design)2,500,000 2,500,000 2,500,000 2,500,000 36
37 Doe Branch - 161 acres: (Construction)22,500,000 22,500,000 22,500,000 22,500,000 37
38 Raymond Community Park, Phase 2: (Design)1,000,000 1,000,000 1,000,000 1,000,000 38
39 Raymond Community Park, Phase 2: (Construction)9,000,000 9,000,000 9,000,000 9,000,000 39
Medians/Landscape Screening 00
40 2150-PK US 380 Green Ribbon Lndscp- Irrigation (Lovers - Mahard): (Design)95,000 95,000 95,000 D 40
41 2150-PK US 380 Green Ribbon Lndscp-Irrigation (Lovers - Mahard): (Constr.)2,200,000 2,200,000 2,200,000 B,D 41
42 Prairie Median Lndscp (W of Legacy - Mahard): (Design)100,000 100,000 100,000 D 42
43 Prairie Median Lndscp (W of Legacy - Mahard): (Construction)600,000 600,000 600,000 D 43
44 Richland Median Lndscp (Prosper Commons - Coit Rd): (Design)100,000 100,000 100,000 D 44
45 Richland Median Lndscp (Prosper Commons - Coit Rd): (Constr.)600,000 600,000 600,000 D 45
46 2328-PK Prosper Trail Screening (Preston - Deer Run): (Design & Construction)750,000 750,000 750,000 L 46
47 2408-DR Doe Branch Creek Erosion Control 225,000 225,000 225,000 F 47
48 2401-PK Parks, Recreation, and Open Space Master Plan Update 140,000 140,000 140,000 D 48
Unprogrammed Future Projects 800,000 800,000
34,737,136 9,130,050 200,000 0 0 0 88,870,000 132,937,186 119,206,305 12,930,881 10,900,000 0 200,000 0 0 0 87,150,680
Design 1,585,000 275,000 200,000 0 0 0 8,650,000 10,710,000 CO Bond Debt 0 0 0 0 0 0 0
Construction 29,395,067 4,880,000 0 0 0 0 78,190,000 112,465,067 GO Bond Debt 10,900,000 0 200,000 0 0 0 87,150,680
Design & Construction 3,757,069 3,975,050 0 0 0 0 2,030,000 9,762,119 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements 0 0 0 0 0 0 0 0
##A Impact Fees D General Fund G Park Development Fund J TIRZ #2 X Non-Cash Contributions
##B Grant and Interlocal Funds E Water / Wastewater Fund H TIRZ #1 K Escrows Z Other Sources (See Detail)
##C Developer Agreements F Stormwater Drainage Fund I Interest L Capital Dedicated
Unissued Debt ScheduleFunding Sources
Restricted Un-Restricted IndexIndexPark Projects
Summary of Capital Improvement Program - 2024-07-24 Working Copy 03General Fund Projects
Subtotal
Description Codes - Other Sources
10
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 2406-FC Library Master Plan 130,000 130,000 130,000 D 01
02 2137-FC Fire Station #4: (Design)965,855 965,855 965,855 Z 02
03 2203-FC Fire Station #4: (Other Development Costs)8,250 700,000 708,250 8,250 700,000 L 03
04 2205-FC Fire Station #4: (Construction)10,200,000 1,025,000 11,225,000 10,200,000 1,025,000 I,L 10,200,000 04
05 2206-FC Fire Station #4: (FF&E)775,000 775,000 775,000 L 05
06 Fire Station #3 Upgrades and Repairs 190,000 190,000 190,000 I 06
07 Town Hall Repairs - N. Parking Lot & Front Steps and Fountain 273,000 273,000 273,000 I 07
08 2123-FC Parks & Public Works, Phase 1: (Design)1,200,000 1,200,000 1,200,000 Z 08
09 2123-FC Parks & Public Works, Phase 1: (Construction)2,250,000 2,352,938 5,397,062 10,000,000 10,000,000 Z 09
10 Public Safety Fiber Ring 1,000,000 1,000,000 1,000,000 I 10
11 Public Safety Facility, Phase 2 (Design)11
12 Public Safety Training Facility, Phase 1: (Design)750,000 750,000 750,000 750,000 12
13 Public Safety Training Facility, Phase 1: (Construction)6,750,000 6,750,000 4,300,000 2,450,000 D 4,300,000 13
14 Fueling Facility: (Design and Construction)455,000 455,000 455,000 455,000 14
15 Fire Station #5 14,000,000 14,000,000 14,000,000 14,000,000 15
16 Fire Engine - Fire Station #5 1,600,000 1,600,000 1,600,000 1,600,000 16
17 Multigenerational Recreational Center: (Design)4,000,000 4,000,000 4,000,000 4,000,000 17
18 Multigenerational Recreational Center: (Construction)36,000,000 36,000,000 36,000,000 36,000,000 18
19 Municipal Library: (Design) - TBD TBD 19
20 Municipal Library: (Construction) - TBD TBD 20
21 Parks & Public Works, Phase 2: (Design) - TBD TBD 21
22 Parks & Public Works, Phase 2: (Construction) - TBD TBD 22
23 Police Station Expansion and Indoor Gun Range - TBD TBD 23
24 Town Hall Remodel - Library Conversion - TBD TBD 24
25 Unprogrammed Future Public Safety 592,935
14,754,105 6,908,873 6,147,062 0 6,750,000 0 56,055,000 90,022,105 73,279,105 16,743,000 10,200,000 0 0 750,000 4,300,000 0 56,055,000
Design 2,295,855 0 750,000 0 0 0 4,000,000 7,045,855 CO Bond Debt 0 0 0 0 0 0 0
Construction 12,458,250 4,852,938 5,397,062 0 6,750,000 0 36,000,000 65,458,250 GO Bond Debt 10,200,000 0 0 750,000 4,300,000 0 56,055,000
Design & Construction 0 2,055,935 0 0 0 0 14,455,000 15,918,000 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements/Equipment 0 0 0 0 0 0 1,600,000 1,600,000
148,448,912 54,852,047 66,697,062 16,000,000 6,750,000 7,050,000 201,425,000 499,830,086 379,044,211 119,985,875 36,407,062 19,450,000 20,597,062 13,300,000 14,800,000 6,525,000 145,205,680
Design 15,292,035 2,000,000 950,000 0 0 130,000 12,650,000 31,022,035 CO Bond Debt -$ 0 0 0 0 0 0
Construction 113,710,241 37,276,062 61,947,062 16,000,000 6,750,000 6,920,000 168,690,000 411,293,365 GO Bond Debt 36,407,062 19,450,000 20,597,062 13,300,000 14,800,000 6,525,000 145,205,680
Design & Construction 10,271,236 9,575,985 0 0 0 0 16,485,000 34,939,286 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements 9,175,400 6,000,000 3,800,000 0 0 0 3,600,000 22,575,400
##A Impact Fees D General Fund G Park Development Fund J TIRZ #2 X Non-Cash Contributions
##B Grant and Interlocal Funds E Water / Wastewater Fund H TIRZ #1 K Escrows Z Other Sources (See Detail)
##C Developer Agreements F Stormwater Drainage Fund I Interest L Capital Dedicated IndexSummary of Capital Improvement Program - 2024-07-24 Working Copy 04General Fund Projects
Subtotal
Description Codes - Other Sources
Grand Total General Fund
Unissued Debt Schedule
IndexFacility Projects
Funding Sources
Restricted Un-Restricted
11
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 1501-WA LPP Pump Station and LPP WL, Phase 2: (Design)1,585,100 1,585,100 1,585,100 A 01
02 1501-WA LPP Pump Station, Phase 2: (Construction)17,346,000 17,346,000 17,346,000 A,B 02
03 1810-WA LPP Water Line Phase, 2A Easement Costs 1,500,000 1,500,000 1,500,000 A 03
04 1810-WA LPP WL, Phase 2A: (Construction)7,500,000 7,500,000 7,500,000 A 04
05 2114-WA FM 1461 12-inch Water Line Relocation: (Design)400,000 400,000 400,000 E 05
06 2114-WA FM 1461 12-inch Water Line Relocation: (Easements)500,000 500,000 500,000 E 06
07 2114-WA FM 1461 12-inch Water Line Relocation: (Construction)2,500,000 3,500,000 6,000,000 6,000,000 E 07
08 2123-WA Parks & Public Works, Phase 1: (Design)600,000 600,000 600,000 E 08
09 2123-WA Parks & Public Works, Phase 1: (Construction)5,000,000 5,000,000 4,000,000 1,000,000 E,B,I 2,646,633 09
10 2412-WA Ground Storage 6 MG Tank (Design)600,000 600,000 600,000 E 10
11 2412-WA Ground Storage 6 MG Tank (Construction)4,939,007 2,560,993 7,500,000 6,560,993 939,007 A,E,I 11
12 Craig Street 2 MG EST Rehabilitation (Design)460,000 460,000 460,000 12
13 Craig Street 2 MG EST Rehabilitation (Construction)2,540,000 2,540,000 2,540,000 A,I 740,000 13
14 LPP Future Expansion: (Design)1,400,000 1,400,000 1,400,000 14
15 LPP Future Expansion: (Construction)12,600,000 12,600,000 4,000,000 8,600,000 4,000,000 15
16 Unprogrammed Future Water/Wastewater 286,463 286,463 16
37,470,107 11,807,456 2,540,000 0 0 0 14,000,000 65,817,563 45,492,093 20,039,007 0 2,646,633 740,000 0 0 0 4,000,000
Design 3,185,100 460,000 0 0 0 0 1,400,000 5,045,100 CO Bond Debt 0 0 0 0 0 0 0
Construction 32,285,007 11,060,993 2,540,000 0 0 0 12,600,000 58,486,000 GO Bond Debt 0 0 0 0 0 0 0
Design & Construction 0 286,463 0 0 0 0 0 286,463 Revenue Bond Debt 0 2,646,633 740,000 0 0 0 4,000,000
Land/Easements 2,000,000 0 0 0 0 0 0 2,000,000
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 2103-WW Doe Branch Parallel Interceptor: (Design & Construction)7,400,000 8,853,327 16,253,327 16,253,327 A,I 3,750,000 3,750,000 3,876,664 3,876,664 01
02 2152-WW Upper Doe Branch WW Line (Teel-PISD Stadium): (Design)875,000 875,000 875,000 A 02
03 2152-WW Upper Doe Branch WW Line (Teel-PISD Stadium): (Easements)100,000 100,000 100,000 A 03
04 2152-WW Upper Doe Branch WW Line (Teel-PISD Stadium): (Construction)4,050,000 3,000,000 7,050,000 7,050,000 A,K 04
05 2334-WW Wilson Creek WW Line: (Design)35,000 35,000 35,000 E 05
06 2334-WW Wilson Creek WW Line: (Construction)365,000 365,000 365,000 E 06
07 2322-WW Doe Branch, Phase 3 WWTP: (Design & Construction)55,000,000 49,946,277 104,946,277 104,946,277 B 27,500,000 27,500,000 21,921,955 21,921,955 07
08 Denton ISD WW Line Reimbursement: (Design & Construction)531,622 531,622 531,622 A 08
67,825,000 62,331,226 0 0 0 0 0 130,156,226 129,756,226 400,000 31,250,000 31,250,000 25,798,619 25,798,619 0 0 0
Design 910,000 0 0 0 0 0 0 910,000 CO Bond Debt 0 0 0 0 0 0 0
Construction 4,415,000 3,000,000 0 0 0 0 0 7,415,000 GO Bond Debt 0 0 0 0 0 0 0
Design & Construction 62,400,000 59,331,226 0 0 0 0 0 121,731,226 Revenue Bond Debt 31,250,000 31,250,000 25,798,619 25,798,619 0 0 0
Land/Easements 100,000 0 0 0 0 0 0 100,000
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
01 2024-DR Old Town Regional Detention Pond #2: (Design)48,386 50,000 98,386 98,386 F 01
02 2024-DR Old Town Regional Detention Pond #2: (Construction)300,000 300,000 300,000 F 02
48,386 50,000 300,000 0 0 0 0 398,386 398,386 0 0 0 0 0 0 0 0
Design 48,386 50,000 0 0 0 0 0 98,386 CO Bond Debt 0 0 0 0 0 0 0
Construction 0 0 300,000 0 0 0 0 300,000 GO Bond Debt 0 0 0 0 0 0 0
Design & Construction 0 0 0 0 0 0 0 0 Revenue Bond Debt 0 0 0 0 0 0 0
Land/Easements 0 0 0 0 0 0 0 0
105,343,493 74,188,682 2,840,000 0 0 0 14,000,000 196,372,175 175,646,705 20,439,007 31,250,000 33,896,633 26,538,619 25,798,619 0 0 4,000,000
Design 4,143,486 510,000 0 0 0 0 1,400,000 6,053,486 CO Bond Debt 0 0 0 0 0 0 0
Construction 36,700,007 14,060,993 2,840,000 0 0 0 12,600,000 66,201,000 GO Bond Debt 0 0 0 0 0 0 0
Design & Construction 62,400,000 59,617,689 0 0 0 0 0 122,017,689 Revenue Bond Debt 31,250,000 33,896,633 26,538,619 25,798,619 0 0 4,000,000
Land/Easements 2,100,000 0 0 0 0 0 0 2,100,000
##A Impact Fees D General Fund G Park Development Fund J TIRZ #2 X Non-Cash Contributions
##B Grant and Interlocal Funds E Water / Wastewater Fund H TIRZ #1 K Escrows Z Other Sources (See Detail)
##C Developer Agreements F Stormwater Drainage Fund I Interest L Capital Dedicated
Description Codes - Other Sources
Subtotal
Subtotal IndexFunding Sources
Restricted Un-Restricted
Funding Sources
Restricted Un-Restricted IndexSubtotal
Grand Total Enterprise Funds IndexIndexUnissued Debt Schedule
Unissued Debt Schedule
Wastewater Projects
Drainage ProjectsIndex Summary of Capital Improvement Program - 2024-07-24 Working Copy 05Enterprise Fund Projects
IndexWater Projects
Unissued Debt ScheduleFunding Sources
Restricted Un-Restricted
12
Issued
FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34 Total FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30-34
Prior Years 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034 Cost 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2034
148,448,912 54,852,047 66,697,062 16,000,000 6,750,000 7,050,000 201,425,000 499,830,086 379,044,211 119,985,875 36,407,062 19,450,000 20,597,062 13,300,000 14,800,000 6,525,000 145,205,680
105,343,493 74,188,682 2,840,000 0 0 0 14,000,000 196,372,175 175,646,705 20,439,007 31,250,000 33,896,633 26,538,619 25,798,619 0 0 4,000,000
253,792,405 129,040,729 69,537,062 16,000,000 6,750,000 7,050,000 215,425,000 696,202,261 554,690,916 140,424,882 67,657,062 53,346,633 47,135,681 39,098,619 14,800,000 6,525,000 149,205,680
CO Bond Debt 31,250,000 33,896,633 26,538,619 25,798,619 0 0 4,000,000
GO Bond Debt 36,407,062 19,450,000 20,597,062 13,300,000 14,800,000 6,525,000 145,205,680
Design 19,435,521 2,510,000 950,000 0 0 130,000 14,050,000 37,075,521 Revenue Bond Debt 0 0 0 0 0 0 0
Construction 150,410,248 51,337,055 64,787,062 16,000,000 6,750,000 6,920,000 181,290,000 477,494,365
Design & Construction 72,671,236 69,193,674 0 0 0 0 16,485,000 156,956,975
Land/Easements 11,275,400 6,000,000 3,800,000 0 0 0 3,600,000 24,675,400
Grand Total Capital Improvement Program
Enterprise Funds
General Fund
Funding Sources
Restricted Un-RestrictedCapital Improvement Program Summary Unissued Debt Schedule
Capital Improvement Program SummarySummary of Capital Improvement Program - 2024-07-24 Working Copy
13
14
APPENDIX
Supplemental Budget Requests
Each year departments are provided with a base operating budget for their department. Any additional funding
requests are made as supplemental requests. There are two categories of supplemental request:
Non‐Discretionary ‐ These are considered necessary for maintaining service delivery at current levels, and are
usually the result of goods or services required by the Town. These requests are considered higher priority than
Discretionary packages, as denial of these requests would reduce the level of service currently provided to the
citizens of Prosper. Non‐Discretionary packages might include increased costs for maintenance contracts,
electricity, paper and printing, postage, phone rates, internet access, etc.
Discretionary ‐ These should be completed for new personnel or other increases or additions to current service
levels. The Executive Team will rank all new Discretionary packages from each fund. The Town Manager will
determine if the requests are funded in the budget submission to the Town Council. Every discretionary package
will be presented to Town Council regardless of the funding status.
Discretionary packages are separated into three priority rankings:
Discretionary 1 ‐ Must do
Discretionary 2 ‐ Should do
Discretionary 3 ‐ Nice to do
3
DEPT NET NET TOTAL TOTAL
DIV/DEPT RANK DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING COSTS REVENUE NET COSTS
TMO 0 MARKET - ADMIN - 92,556 92,556 92,556
TMO 0 MANAGEMENT ANALYST 1.00 10,000 105,000 115,000 115,000
FINANCE 3 FLEET COORDINATOR 1.00 4,630 72,003 76,633 76,633
HR 1 COMPREHENSIVE COMPENSATION AND BENEFITS STUDY 65,000 - 65,000 65,000
IT 0 MARKET - IT - 27,255 27,255 27,255
IT 4 TOWN HALL POWER UPS UPGRADE (GRANT) 25,000 - 25,000 22,500 2,500
IT 7
TOWN HALL VIRTUAL SERVER CLUSTER HARDWARE
REFRESH 99,509 - 99,509 99,509
IT 8 PD VIRTUAL SERVER CLUSTER HARDWARE REFRESH 61,341 - 61,341 61,341
IT 9 UC PHONE SYSTEM MIGRATION - 25,000 25,000 25,000
IT 10
EXPAND ASSET MANAGEMENT PLATFORM TO INCLUDE
FLEET MANAGEMENT 44,100 - 44,100 44,100
IT 11 AUTOMATION EXTENSION FOR PHISH TESTING PLATFORM 13,569 - 13,569 13,569
COMMUNICATIONS 1
COMMUNICATIONS SPEC-GRAPHIC DESIGN-PT TO FT-
STARTS OCT 1 0.50 - 34,091 34,091 34,091
MUNICIPAL COURT 0 MUNICIPAL COURT CLERK 1.00 - 47,399 47,399 47,399
POLICE OPERATIONS 0 MARKET - PD SWORN - 232,513 232,513 232,513
POLICE OPERATIONS 0 MARKET - PD NON-SWORN - 17,161 17,161 17,161
POLICE OPERATIONS 1 DEPUTY CHIEF - RECLASS ONE POLICE OFFICER R - 80,736 80,736 80,736
POLICE OPERATIONS 3 DETECTIVES 1.00 115,264 80,049 195,313 195,313
POLICE OPERATIONS 4 GRANT-COPS HIRING PROGRAM 5.00 505,917 579,298 1,085,215 333,333 751,882
POLICE OPERATIONS 6 ADMINISTRATIVE ASSISTANT-PATROL 1.00 36,515 13,171 49,686 49,686
POLICE OPERATIONS 8 FLOCK SAFETY PROGRAM EXPANSION (GRANT) 14,900 192,350 207,250 189,600 17,650
POLICE OPERATIONS 9 PISTOL EQUIPMENT 46,144 - 46,144 46,144
POLICE OPERATIONS 15 BILINGUAL PAY - 9,600 9,600 9,600
POLICE OPERATIONS 16 GRANT-LEVEL III BALLISTIC VESTS (GRANT) 33,019 - 33,019 14,848 18,171
POLICE OPERATIONS 17 LEMHWA PROGRAM (GRANT) - 50,000 50,000 50,000 -
9-1-1 COMMUNICATIONS 5 9-1-1 COMMUNICATIONS CAD SUPERVISOR 1.00 5,369 65,425 70,794 70,794
FIRE OPERATIONS 0 MARKET - FIRE SWORN - 228,464 228,464 228,464
FIRE OPERATIONS 0 MARKET - FIRE NON-SWORN - 4,821 4,821 4,821
FIRE OPERATIONS 3 ONLINE PARAMEDIC SCHOOL - SCHOOL OF EMS 41,250 - 41,250 41,250
FIRE OPERATIONS 4 ANNUAL PHYSICALS - 20,596 20,596 20,596
FIRE OPERATIONS 6
MOTOROLA END OF SERVICE LIFE MOBILE/PORTABLE RADIO
REPLACEMENT (3-YEAR) - 91,628 91,628 91,628
FIRE MARSHAL 1 FIRE INSPECTOR/INVESTIGATOR 1.00 102,265 100,072 202,337 202,337
BUILDING INSPECTIONS 0 MARKET - DEVELOPMENT SERVICES - 64,323 64,323 64,323
STREETS 0 MARKET - PUBLIC WORKS - 3,043 3,043 3,043
STREETS 1 SIGNS AND MARKINGS TECHNICIAN (NEW PERSONNEL)1.00 - 40,716 40,716 40,716
STREETS 2 STREETS UTILITY WORKER 1.00 - 58,420 58,420 58,420
STREETS 3 ILSN REPLACEMENT (ILLUMINATED STREET NAME) 73,102 - 73,102 73,102
FACILITIES 0 BUILDING MAINTENANCE SERVICES - 50,000 50,000 50,000
FACILITIES 0 BUILDING REPAIRS - 50,000 50,000 50,000
FACILITIES 0 CITYWORKS WORKORDER SYSTEM 41,600 - 41,600 41,600
FACILITIES 0 CONTRACTED SERVICES - 50,000 50,000 50,000
TOWN OF PROSPER
FY 2024-2025
DISCRETIONARY PACKAGES - RECOMMENDED FOR FUNDING
GENERAL FUND
4
FACILITIES 0 FACILITIES MAINTENANCE TECHNICIAN 1.00 - 51,700 51,700 51,700
PARK ADMINISTRATION 0 MARKET - COMMUNITY SERVICES - 96,566 96,566 96,566
PARK ADMINISTRATION 1 FY25 INCREASE FUNDING FOR SPECIAL EVENTS - 38,000 38,000 38,000
PARK ADMINISTRATION 2 FY 25 INCREASED FUNDING FOR CHRISTMAS DECORATIONS - 18,000 18,000 18,000
PARK ADMINISTRATION 7 ZAPSTAND INSTALLATION & MAINTENANCE 10,000 10,000 20,000 20,000
PARK OPERATIONS 3
ASSISTANT PARKS SUPERINTENDENT - RECLASS - START
DATE IS OCT 1 R 750 7,039 7,789 7,789
PARK OPERATIONS 9
IRRIGATION TECHNICIAN - NEW PERSONNEL - START DATE
IS APRIL 1 1.00 51,456 37,558 89,014 89,014
PARK OPERATIONS 12
PARKS SUPERVISOR - NEW PERSONNEL - START DATE IS
NOV 1, 2024 1.00 52,529 92,738 145,267 145,267
RECREATION 3
FY25 INCREASE IN RECREATION PROGRAMMING &
RECREATION EVENTS - 34,050 34,050 24,000 10,050
LIBRARY 3 LIBRARY TECHNOLOGY EQUIPMENT - 13,231 13,231 13,231
LIBRARY 4 LIBRARY PERSONNEL - .5 LIBRARY ASSISTANT 0.50 - 30,286 30,286 30,286
ENGINEERING 0 MARKET - ENGINEERING - 6,156 6,156 6,156
ENGINEERING 1 SENIOR TRAFFIC ENGINEER (NEW PERSONNEL) 1.00 20,686 101,028 121,714 121,714
TOTAL DISCRETIONARY RECOMMENDED FOR FUNDING 19.00 1,473,915 3,022,042 4,495,957 634,281 3,861,676
NON-DEPARTMENTAL 0 CONTINGENCY PACKAGE FY25 364,000 364,000 364,000
TOTAL CONTINGENCY RECOMMENDED FOR FUNDING 0.00 - 364,000 364,000 - 364,000
TOTAL RECOMMENDED FOR FUNDING 19.00 1,473,915 3,386,042 4,859,957 634,281 4,225,676
5
DEPT NET NET TOTAL TOTAL
FUND DEPARTMENT RANK DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING COSTS REVENUE NET COSTS
WATER &
WASTEWATER
UTILITY CUSTOMER
SERVICE 0 MARKET - UTILITY CUSTOMER SERVICE - 5,378 5,378 - 5,378
WATER &
WASTEWATER NON-DEPARTMENTAL 0
EXTERIOR SURVEILLANCE CAMERAS FOR PUBLIC WORKS
FACILITY 19,000 - 19,000 - 19,000
WATER &
WASTEWATER WATER 0 WATER & WASTEWATER - MARKET - 32,223 32,223 - 32,223
WATER &
WASTEWATER WATER 0
COMPREHENSIVE SCADA CYBER SECURITY ASSESSMENT
(GRANT) 50,000 - 50,000 - 50,000
WATER &
WASTEWATER WATER 3
PW RECLASS SENIOR WATER QUALITY TECHNICIAN TO PAY
GRADE 28 - 12,048 12,048 - 12,048
WATER &
WASTEWATER WATER 4 PW RECLASS ADMIN ASST. TO SR. ADMIN ASST. - 12,002 12,002 - 12,002
WATER &
WASTEWATER WATER 5 PW NEW POSITION - CREW LEADER 1.00 99,820 98,141 197,961 - 197,961
WATER &
WASTEWATER WATER 6 PW NEW POSITION - HEAVY EQUIPMENT OPERATOR 1.00 335 85,270 85,605 - 85,605
WATER &
WASTEWATER WATER 7 WATER TOWER MIXER 30,650 - 30,650 - 30,650
WATER &
WASTEWATER WATER 8 GROUND STORAGE TANK CLEANING 33,600 - 33,600 - 33,600
WATER &
WASTEWATER WATER 9 CHLORINE ANALYZERS FOR WATER TOWERS 25,821 - 25,821 - 25,821
WATER &
WASTEWATER WATER 10 PW NEW POSITION - UTILITY WORKER (WATER)1.00 1,800 75,672 77,472 - 77,472
WATER &
WASTEWATER
CONSTRUCTION
INSPECTIONS 1 RECLASS SENIOR CONSTRUCTION INSPECTOR 9,779 9,779 - 9,779
STORMWATER
DRAINAGE PUBLIC WORKS 1 STORMWATER CREW LEADER 1.00 78,952 103,830 182,782 - 182,782
STORMWATER
DRAINAGE PUBLIC WORKS 3 303.5 CAT MINI EXCAVATOR 66,279 8,165 74,444 - 74,444
TOTAL DISCRETIONARY RECOMMENDED FOR FUNDING 4.00 406,257 442,508 848,765 - 848,765
TOWN OF PROSPER
FY 2024-2025
DISCRETIONARY PACKAGES - RECOMMENDED FOR FUNDING
UTILITY FUNDS
6
DEPT NET NET TOTAL TOTAL
FUND DEPARTMENT RANK DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING COSTS REVENUE NET COSTS
SPECIAL
REVENUE -
DONATIONS FIRE 0 REPLACEMENT SIDE-BY-SIDE HONDA PIONEER 1000-6 30,000 - 30,000 - 30,000
TOTAL DISCRETIONARY RECOMMENDED FOR FUNDING 0.00 30,000 - 30,000 - 30,000
TOWN OF PROSPER
FY 2024-2025
DISCRETIONARY PACKAGES - RECOMMENDED FOR FUNDING
OTHER FUNDS
7
NET NET TOTAL
DIV / DEPT NON-DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING REVENUE NET COST
TOWN SECRETARY ELECTION SERVICES 14,000 - 14,000 9,477
FINANCE INCREASE TO BASE BUDGET - FINANCE - 109,000 109,000 109,000
HR INCREASE IN BASE BUDGET - 20,500 20,500 20,500
IT ADDITIONAL CAD/RMS LICENSES 15,462 4,038 19,500 19,500
IT
AGENDA MANAGEMENT PLATFORM COST INCREASE AND
MODULE EXPANSION - 1,783 1,783 1,783
IT BLUEBEAM LICENSE MIGRATION - 8,600 8,600 8,600
IT DOCUMENT MANAGEMENT PLATFORM COST INCREASE 1,150 - 1,150 1,150
IT
EMAIL SECURITY AND BACKUP PLATFORM LICENSE
SHORTFALL - 13,140 13,140 13,140
IT ERP PROJECT AND SOFTWARE - 344,538 344,538 344,538
IT FIREWALL PLATFORM SUPPORT RENEWAL 2,970 - 2,970 2,970
IT GIS PLATFORM ENTERPRISE AGREEMENT RENEWAL - 2,575 2,575 2,575
IT MOBILE APP CONTRACT RENEWAL AND COST INCREASE - 1,200 1,200 1,200
IT MOBILE ROUTER CLOUD MANAGEMENT RENEWAL 7,648 - 7,648 7,648
IT PERMITTING AND LICENSING PLATFORM LICENSE - 2,400 2,400 2,400
IT PUBLIC SAFETY VPN PLATFORM LICENSES - 2,000 2,000 2,000
IT SECURITY AWARENESS TRAINING PLATFORM RENEWAL 19,602 - 19,602 19,602
IT VIRTUAL SERVER CLUSTER STORAGE LICENSE RENEWAL 38,106 - 38,106 38,106
IT WEBSITE PLATFORM COST INCREASE - 2,680 2,680 2,680
COMMUNICATIONS &
COMMUNITY
ENGAGEMENT
INCREASE TO BASE BUDGET - COMMUNICATIONS
CONTRACT SERVICES - 630 630 630
COMMUNICATIONS &
COMMUNITY
ENGAGEMENT
INCREASE TO BASE BUDGET - COMMUNICATIONS DUES,
FEES AND SUBSCRIPTIONS - 465 465 465
COMMUNICATIONS &
COMMUNITY
ENGAGEMENT MUTD TRANSIT SERVICES - 6,700 6,700 6,700
MUNICIPAL COURT
JUDICIAL CLERK/YOUTH DIVERSION COORDINATOR
RECLASS - 6,037 6,037 6,037
POLICE OPERATIONS FLOCK CONTRACT (GRANT)- 160,000 160,000 - 160,000
POLICE OPERATIONS POWER BI LICENSE INCREASE - 9,228 9,228 9,228
POLICE OPERATIONS SMARTFORCE SOFTWARE LICENSE-INCREASE - 5,263 5,263 5,263
POLICE OPERATIONS TASERS 2,500 13,648 16,148 16,148
9-1-1 COMMUNICATIONS 9-1-1 COMMUNICATIONS TRAINING BUDGET INCREASE - 15,500 15,500 15,500
TOTAL
COSTS
TOWN OF PROSPER
FY 2024-2025
NON-DISCRETIONARY PACKAGES - FUNDED
GENERAL FUND
8
9-1-1 COMMUNICATIONS
9-1-1 COMMUNICATIONS-CONTRACT SERVICES BUDGET
INCREASE - 20,000 20,000 20,000
FIRE OPERATIONS INCREASE TO APPARATUS MAINTENANCE - 50,000 50,000 50,000
FIRE MARSHAL
BLAZESTACK FIRE INVESTIGATION CASE MANAGEMENT
SOFTWARE - 3,000 3,000 3,000
STREETS FY25 INCREASE TO BASE BUDGET - STREETS - OVERTIME - 20,000 20,000 20,000
STREETS
FY25 INCREASE TO BASE BUDGET - STREETS-
ELECTRICITY STREETLIGHTS - 25,000 25,000 25,000
PARK ADMINISTRATION INCREASE TO BASE BUDGET 36,150 16,950 53,100 53,100
PARK OPERATIONS
ADD FUNDING FOR CONTRACTS - MEDIANS PARKS AND
GATES OF PROSPER - 179,400 179,400 179,400
PARK OPERATIONS CHEMICAL AND FERT FOR ALL NEW PARKS AND MEDIANS - 50,000 50,000 50,000
PARK OPERATIONS CUSTER RD MEDIAN CONTRACT - 15,000 15,000 15,000
PARK OPERATIONS ELECTRICITY MONEY FOR NEW PARKS - 75,000 75,000 75,000
PARK OPERATIONS FRONTIER MEDIAN CONTRACT. - 60,200 60,200 30,100 30,100
PARK OPERATIONS PARKS OPS OVERTIME INCREASE - 15,000 15,000 15,000
PARK OPERATIONS PERRY WEATHER STATIONS 11,400 8,500 19,900 19,900
PARK OPERATIONS PLAYGROUND MAINTENANCE AND REPAIR - 50,000 50,000 50,000
PARK OPERATIONS REPAIRS AND MAINTENANCE - 25,000 25,000 25,000
PARK OPERATIONS WATER MONEY FOR NEW PARKS AND MEDIANS - 450,000 450,000 450,000
PARK OPERATIONS WATER MONEY PACKAGE REDUCTION FOR WELL - (250,000) (250,000) (250,000)
RECREATION INCREASE TO BASE BUDGET - CREDIT CARDS - 2,000 2,000 2,000
RECREATION INCREASE TO BASE BUDGET - OVERTIME - 1,000 1,000 1,000
LIBRARY LIBRARY COLLECTION GROWTH - 15,466 15,466 15,466
TOTAL FUNDED 0.0 148,988 1,561,441 1,710,429 30,100 1,675,806
9
NET NET TOTAL
FUND DEPARTMENT NON-DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING REVENUE NET COST
WATER &
WASTEWATER
UTILITY CUSTOMER
SERVICE POSTAGE AND DELIVERY 6,000 - 6,000 - 6,000
WATER &
WASTEWATER
UTILITY CUSTOMER
SERVICE PRINTING AND REPRODUCTION 15,000 - 15,000 - 15,000
WATER &
WASTEWATER WATER WATER METER REPLACEMENTS 188,130 750,000 938,130 - 938,130
WATER &
WASTEWATER WATER INCREASE TO BASE BUDGET - OVERTIME - 50,000 50,000 - 50,000
WATER &
WASTEWATER WASTEWATER INCREASE TO BASE BUDGET - 25,000 25,000 - 25,000
STORMWATER
DRAINAGE PUBLIC WORKS INCREASE TO BASE BUDGET - 50,000 50,000 - 50,000
TOTAL FUNDED 209,130 875,000 1,084,130 - 1,084,130
TOTAL
COSTS
UTILITY FUNDS
NON-DISCRETIONARY PACKAGES - FUNDED
FY 2024-2025
TOWN OF PROSPER
10
DEPT NET NET TOTAL TOTAL
#DIV/DEPT RANK DISCRETIONARY PACKAGE TITLE FTEs ONE-TIME ONGOING COSTS REVENUE NET COSTS
HR 2 H.R. GENERALIST 1.00 39,171 53,569 92,740 - 92,740
IT 1 SYSTEMS ADMINISTRATOR (NEW PERSONNEL)1.00 15,880 64,035 79,915 - 79,915
COMMUNICATIONS &
COMMUNITY
ENGAGEMENT 2
COMMUNITY ENGAGEMENT SPECIALIST-NEW PERSONNEL-
FUTURE YEAR FROM FY25 1.00 15,535 66,882 82,417 - 82,417
COMMUNICATIONS &
COMMUNITY
ENGAGEMENT 3
COMMUNICATIONS SPEC-VIDEO-NEW PERSONNEL-STARTS
APRIL 1 1.00 15,535 38,676 54,211 - 54,211
POLICE OPERATIONS 2 CORPORAL-TRAINING 1.00 37,840 150,153 187,993 - 187,993
POLICE OPERATIONS 12 STORAGE UNITS-SRT VEHICLES 23,225 - 23,225 - 23,225
POLICE OPERATIONS 13 MRAP MODIFICATIONS 43,093 - 43,093 - 43,093
CODE COMPLIANCE 1 HEALTH INSPECTOR 1.00 42,400 94,576 136,976 - 136,976
FACILITIES 0 ADMINISTRATIVE ASSISTANT FACILITIES - 55,612 55,612 - 55,612
PARK ADMINISTRATION 6 PARKS AND RECREATION VEHICLE 60,000 1,100 61,100 - 61,100
PARK OPERATIONS 11
CHEMICAL TECHNICIAN - NEW PERSONNEL - START DATE IS
APRIL 1 1.00 51,456 37,558 89,014 - 89,014
PARK OPERATIONS 15 ROBOT MOWERS 94,350 650 95,000 - 95,000
PARK OPERATIONS 16 ROBOT PAINTER 1,700 16,000 17,700 - 17,700
PARK OPERATIONS 17 GAZEBO ROOF 12,000 - 12,000 - 12,000
RECREATION 1
SPECIAL EVENTS COORD. - NEW PERSONNEL - START DATE IS
APRIL 1 1.00 - 55,964 55,964 55,964
RECREATION 4
RECREATION ATTENDANT - RECLASS SEASONAL TO PT -
STARTS OCT 1 150 22,017 22,167 - 22,167
LIBRARY 1 LIBRARY PERSONNEL - LIBRARY MANAGER 1.00 34,300 102,316 136,616 136,616
TOTAL NOT FUNDED 9.00 486,635 759,108 1,245,743 - 1,245,743
TOWN OF PROSPER
FY 2024-2025
DISCRETIONARY PACKAGES - NOT FUNDED
GENERAL FUND
11
Purpose of Financial Policies
A strategic visioning priority of the Town Council is to continue to provide excellent municipal services. The
Town of Prosper has a responsibility to its citizens to not only protect public funds, but to also be prudent in the
management of government finances while providing adequate funding for the services desired by the public
and the maintenance of public facilities. The Town of Prosper has adopted several financial policies in addition to
the Town Charter to guide the Finance Department and staff in financial matters. The Town strives to adhere to
and follow all of the financial policies that have been adopted.
12
Charter ArƟcle VII - Financial Procedure SecƟons
As Revised May 6, 2017
Financial Procedures
ARTICLE VII
SECTION 7.01 Fiscal Year
The fiscal year of the Town shall begin on the first day of October and end on the last day of September on
the next succeeding year. Such fiscal year shall also constitute the budget and accounting year.
SECTION 7.02 Submission of Budget and Budget Message
On or before the fifteenth (15th) day of August of the fiscal year, the Town Manager shall submit to the Town
Council a budget for the ensuing fiscal year and an accompanying budget message.
SECTION 7.03 Budget Message
The Town Manager's message shall explain the budget both in fiscal terms andintermsofthework
programs. It shall outline the proposed financial policies of the Town for the ensuing fiscal year, describe the
important features of the budget, indicate any major changes from the current year in financial policies,
expenditures, and revenues together with the reasons for such changes, summarize the Town's debt position
and include such other material as the Town Manager deems desirable.
SECTION 7.04 Budget a Public Record
The budget and all supporting schedules shall be filed with the person performing the duties of Town
Secretary when submitted to the Town Council and shall be open to public inspection by anyone interested.
SECTION 7.05 Public Hearing on Budget
At the Town Council meeting when the budget is submitted, the Town Council shall name the date and place
of a public hearing, which shall be scheduled and published in accordance with the requirements of Chapter
102, Local Government Code, as amended. At this hearing, interested citizens may express their opinions
concerning items of expenditures, giving their reasons for wishing to increase or decrease any items of
expense.
SECTION 7.06 Proceeding on Adoption of Budget
After public hearing, the Town Council shall analyze the budget, making any additions or deletions which
they feel appropriate, and shall, prior to the beginning of the next fiscal year, adopt the budget by the
affirmative vote of a majority of the full membership of the Town Council. Should the Town Council take no
final action on or prior to such day, the current budget shall be in force on a month-to-month basis until a new
budget is adopted.
SECTION 7.07 Budget, Appropriation and Amount to be Raised by Taxation
On final adoption, the budget shall be in effect for the budget year. Final adoption of the budget by the Town
Council shall constitute the official appropriations as proposed by expenditures for the current year and shall
constitute the basis of official levy of the property tax as the amount of tax to be assessed and collected for
the corresponding tax year. Estimated expenditures will in no case exceed proposed revenue plus the
undesignated fund balance from the previous fiscal year. Unused appropriations may be transferred to any
item required for the same general purpose.
13
Charter ArƟcle VII - Financial Procedure SecƟons
As Revised May 6, 2017
SECTION 7.08 Contingent Reserve
Provision shall be made in the annual budget maintaining a contingency reserve fund balance designation in
an amount not less than twenty percent (20%) of the total general fund expenditures, to be used in case of
unforeseen items of expenditure or revenue shortfalls. This shall apply to current operating expenses and shall
not overlap with any other amount of reserves maintained by the Town. Such contingency reserve
appropriation shall be under the control of the Town Manager and distributed by him or her only in the event
of an emergency or after supplemental appropriation by the Town Council. The proceeds of the contingency
reserves shall be disbursed only by transfer to departmental appropriation, the spending of which shall be
charged to the departments or activities for which the appropriations are made.
SECTION 7.09 Amending the Budget
Under conditions which may arise and which could not reasonably have been foreseen in the normal process
of planning the budget, the Town Council may, by the affirmative vote of a majority of the full membership
of the Town Council, amend or change the budget to provide for any additional expense in which the general
welfare of the citizenry is involved. These amendments shall be by ordinance, and shall become an
attachment to the original budget.
SECTION 7.10 Certification; Copies Made Available
A copy of the budget, as finally adopted, shall be filed with the person performing the duties of Town
Secretary and such other places required by state law or as the Town Council shall designate. The final
budget shall be printed or otherwise reproduced and sufficient copies shall be made available for the use of all
offices, agencies, and for the use of interested persons and civic organizations.
SECTION 7.11 Capital Program
The Town Manager shall submit a five-year (5-year) capital program as an attachment to the annual budget.
The program as submitted shall include:
(1) A clear general summary of its contents;
(2) A list of all capital improvements which are proposed to be undertaken during the five (5)
fiscal years succeeding the budget year, with appropriate supporting information as to the
necessity for such improvements;
(3) Cost estimates, method of financing, and recommended time schedules for each
improvement; and
(4) The estimated annual cost of operating and maintaining the facilities to be constructed
or acquired.
The above information may be revised and extended each year with regard to capital improvements still
pending or in process of construction or acquisition. The Capital program will be updated and presented to
the Town Council annually.
SECTION 7.12 Defect Shall Not Invalidate the Tax Levy
Errors or defects in the form or preparation of the budget or the failure to perform any procedural
requirements shall not nullify the tax levy or the tax rate.
14
Charter ArƟcle VII - Financial Procedure SecƟons
As Revised May 6, 2017
SECTION 7.13 Lapse of Appropriations
Every appropriation, except an appropriation for a capital expenditure,shall lapse at the close of the fiscal
year to the extent that it has not been expended or encumbered. An appropriation for a capital expenditure
shall continue in force until the purpose for which it was made had been accomplished or abandoned. The
purpose of any such appropriation shall be deemed abandoned if three (3) years pass without any
disbursement from or encumbrance of the appropriation. Any funds not expended, disbursed or encumbered
shall be deemed excess funds.
SECTION 7.14 Borrowing
The Town shall have the power to borrow money on the credit of the Town and also to issue or incur bonds
and other evidences of indebtedness, and such powers may be exercised to finance public improvements or
for any other public purpose not prohibited by the Constitution and the laws of the State of Texas, and the
Town may issue refunding bonds to refund outstanding bonds and other evidences of indebtedness of the
Town previously issued or incurred. All such bonds and other evidences of indebtedness shall be issued in
conformity with the laws of the State of Texas and may be secured by or paid, in whole or in part, from ad
valorem tax revenues, revenues derived from other taxing powers of the Town, revenues derived by the Town
from any fee or service charge, including revenues derived from the operations of any public utilities, utility
systems, recreational facilities or any other municipal function to the extent not prohibited by the Constitution
and laws of the State of Texas. Such bonds or evidences of indebtedness may be a charge upon and payable
from the properties, or interest therein pledged, or the income therefrom, or both to the extent not prohibited
by the Constitution or laws of the State of Texas. The proceeds of bonds or other evidences of indebtedness
issued or incurred by the Town shall be used only for the purpose for which the bonds or other indebtedness
was issued or incurred.
SECTION 7.15 Purchasing
(1) The Town Council may by ordinance, give the Town Manager general authority to
contract for expenditure without further approval of the Town Council for all budgeted
items not exceeding limits set by the Town Council within the ordinance.
(2) All contracts for expenditures or purchases involving more than the limits must be
expressly approved in advance by the Town Council. All contracts or purchases involving
more than the limits set by the Town Council shall be awarded by the Town Council in
accordance with state law.
(3) Emergency contracts as authorized by law and this Charter may be negotiated by the
Town Council or Town Manager if given authority by the Town Council, without
competitive bidding, and in accordance with State law. Such emergency may be declared
by the Town Manager and approved by the Town Council or declared by the Town
Council.
15
Charter ArƟcle VII - Financial Procedure SecƟons
As Revised May 6, 2017
SECTION 7.16 Administration of Budget
(1) No payment shall be made or obligation incurred against any allotment or appropriation
except in accordance with appropriations duly made, unless the Town Manager, or the
Town Manager's designee, first certifies that there is a sufficient unencumbered balance
in such allotment or appropriation and that sufficient funds therefrom are or will be
available to cover the claim or meet the obligation when it becomes due and payable.
(2) Any authorization of payment or incurring of obligation in violation of the provisions of this
Charter shall be void and any payment so made illegal. Such action shall be cause for
removal of any officer who knowingly authorized or made such payment or incurred
such payment or obligation, and the officer shall also be liable to the Town for any amount
so paid.
(3) This prohibition shall not be construed to prevent the making or authorizing of payments,
or making of contracts for capital improvements to be financed wholly or partly by the
pledge of taxes, the issuance of bonds, time warrants, certificates of indebtedness, or
certificates of obligation, or to prevent the making of any contract or lease providing
for payments beyond the end of the fiscal year, providing that such action is made or
approved by ordinance.
(4) The Town Manager shall submit to the Town Council each month a report covering the
revenues and expenditures of the Town in such a form as requested by the Town Council.
SECTION 7.17 Depository
All monies received by any person, department or agency of the Town for or in connection with the affairs of
the Town shall be deposited promptly in the Town depository or depositories. The Town depositories shall be
designated by the Town Council in accordance with such regulations and subject to the requirements as to
security for deposits and interest thereon as may be established by ordinance and law. Procedures for
withdrawal of money or the disbursement of funds from the Town depositories shall be prescribed by
ordinance.
SECTION 7.18 Independent Audit
At the close of each fiscal year, and at such other times as may be deemed necessary, the Town Council shall
call for an independent audit to be made of all accounts of the Town by a certified public accountant. No
more than five (5) consecutive annual audits shall be completed by the same firm. The certified public
accountant selected shall have no personal interest, directly or indirectly, in the financial affairs of the Town
or any of its officers. The report of audit, with the auditor's recommendations will be made to the Town
Council. Upon completion of the audit,the Independent Auditor's Report and Annual Financial Report shall
be published on the Town's website and copies of the audit placed on file in the office of the person
performing the duties of Town Secretary, as a public record.
16
Charter ArƟcle VII - Financial Procedure SecƟons
As Revised May 6, 2017
SECTION 7.19 Power to Tax
(1) The Town shall have the power to levy, assess and collect taxes of every character and
type for any municipal purpose not prohibited by the Constitution and laws of the State
of Texas as now written or hereafter amended.
(2) The Town shall have the power to grant tax exemptions in accordance with the laws of
the State of Texas.
SECTION 7.20 Office of Tax Collector
There shall be an office of taxation to collect taxes, the head of which shall be the Town Tax Collector. The
Town Council may contract for such services.
SECTION 7.21 Taxes; When Due and Payable
(1) All taxes due in the Town shall be payable at the office of the Town Tax Collector, or at
such location or locations as may be designated be the Town Council, and may be paid at
any time after the tax rolls for the year have been completed and approved. Taxes for
each year shall be paid before February 1 of the next succeeding year, and all such taxes
not paid prior to that date shall be deemed delinquent, and shall be subject to penalty and
interest as the Town Council shall provide by ordinance. The Town Council may provide
discounts for the payment of taxes prior to January 1 in an amount not to exceed those
authorized by the laws of the State of Texas.
(2) Failure to levy and assess taxes through omission in preparing the appraisal rolls shall not
relieve the person, firm or corporation so omitted from obligation to pay such current or
past due taxes as shown to be payable by recheck of the rolls and receipts for the years
in question, omitting penalty and interest.
SECTION 7.22 Tax Liens, Liabilities and Suits
(1) All taxable property located in the Town on January 1 of each year shall stand charged
from that date with a special lien in favor of the Town for taxes due. All persons
purchasing any such property on or after January 1 in any year shall take the property
subject to the liens provided above. In addition to the liens herein provided, on
January 1 of any year, the owner of property subject to taxation by the Town shall
be personally liable for the taxes due for that year.
(2) The Town shall have the power to sue for and recover personal judgement for taxes
without foreclosure, or to foreclose its lien or liens, or to recover both personal judgement
and foreclosure. In any such suit where it appears that the description of any property in
the Town appraisal rolls is insufficient to identify such property, the Town shall have the
right to plead a good description of the property to be assessed, to prove the same, and to
have its judgement foreclosing the tax lien or for personal judgement against the owners
for such taxes.
17
TOWN OF PROSPER
ADMINISTRATIVE REGULATIONS
CHAPTER 17: FINANCIAL MANAGEMENT POLICY
SECTION 17.01: PURPOSE AND OVERVIEW This policy is developed to help guide the Finance Department, and staff in financial management and budgeting matters. The overriding goal of the Financial Management Policy is to enable the Town to achieve a long-term stable and positive financial condition while accomplishing the Town’s long-term strategic goals. All financial operations will be under the direction of the Town Manager, consistent with the council-manager form of government established in the Town Charter. The rapid growth experienced by the Town produces both financial opportunities and challenges. Often many years of sustained growth must occur before major capital expenditures for new facilities and infrastructure are justified and affordable. Often by the time needed improvements are made growth has slowed and only a limited amount of new revenue is available. If property tax revenues are not reserved for those future improvements including related staffing increases, significant financial stress and the need for major tax rate increases will occur.
SECTION 17.02: SCOPE The scope of the Town’s Financial Management Policies spans accounting, auditing, financial reporting, internal controls, annual operating and multi-year capital budgeting, revenue management, cash management, expenditure control, and debt management.
SECTION 17.03: ACCOUNTING, AUDITING, AND FINANCIAL REPORTING
A. Accounting The Town’s Accounting Manager is responsible for establishing and maintaining the chart of accounts, and for properly recording financial transactions.
B. Funds Self-balancing groups of accounts are used to account for the Town’s financial transactions in accordance with generally accepted accounting principles. Each fund is created for a specific purpose except for the General Fund, which is used to account for all transactions not accounted for in other funds. In essence, the General Fund is intended for governmental tax supported operations of the Town. Funds are created and fund names are changed by Town Council approval through resolution either during the year or in the Town Council’s approval of the annual operating budget ordinances. (See Fund Balance Policy)
C. External Auditing
18
At the close of each fiscal year, and at such other times as may be deemed necessary, the Town Council shall call for an independent audit to be made of all accounts of the Town. The auditors must be a certified public accounting firm capable of conducting the Town’s audit in accordance with generally accepted auditing standards, generally accepted government auditing standards, and contractual requirements. No more than five (5) consecutive annual audits shall be completed by the same firm. The certified public accountant selected shall have no personal interest, directly or indirectly, in the financial affairs of the Town or any of its officers, be a member of the Government Audit Quality Center of the AICPA and have a minimum of ten other government audit and single audit clients. The report of the audit, with the auditor’s recommendations will be made to the Town Council. Upon completion of the audit, the Independent Auditor’s Report and Annual Financial Report shall be published on the Town’s website and copies of the audit placed on file in the office of the person performing the duties of Town Secretary, as public record. (See Town Charter Article VII, Section 7.18 Independent Audit)
D. External Financial Reporting The Town will prepare and publish a Annual Comprehensive Financial Report (ACFR). The ACFR will be prepared in accordance with generally accepted accounting principles, and will be presented annually to the Government Finance Officers Association (GFOA) for evaluation and awarding of the Certification of Achievement for Excellence in Financial Reporting. The ACFR will include the General Fund Budget and Actual information as a basic financial statement and therefore included in the audit opinion. It will be published and presented to Town Council within 180 days after the end of the fiscal year.
E. Internal Financial Reporting The Finance Department will prepare internal financial reports sufficient for management to plan, monitor, and control the Town’s financial affairs throughout the year.
SECTION 17.04: INTERNAL CONTROLS
A. Written Procedures The Finance Director is responsible for developing town-wide written guidelines on accounting, cash handling, grant management, and other financial matters.
B. Department Directors Responsibilities Each department director is responsible to the Town Manager to ensure that good internal controls are followed throughout his or her department, that all guidelines on accounting and internal controls are implemented, and that all independent auditor internal control recommendations are addressed.
SECTION 17.05: OPERATING BUDGET
A. Preparation
19
The Town’s annual “Operating Budget” is legally adopted by ordinance and may only be amended by similar action. It consists of governmental and proprietary funds, including the general obligation and revenue supported Debt Service Fund, but excluding Capital Projects Funds which are adopted on a multi-year project basis. The budget is prepared by the Finance Department with the cooperation of all Town departments and is submitted to the Town Manager who makes any necessary changes and transmits the document on or before the fifteenth (15th) day of August of the fiscal year to Town Council. The proposed budget and all supporting schedules shall be filed with the Town Secretary when submitted to the Town Council and shall be open to public inspection by anyone interested. Thereafter, the Town Council should enact the final budget prior to fiscal year end. Balanced
Budget The final adoption of the operating budget by the Town Council shall constitute the official appropriations as proposed by expenditures for the current year and shall constitute the basis of official levy of the property tax as the amount of tax to be assessed and collected for the corresponding tax year. Estimated recurring expenditures will not exceed proposed recurring revenue. Non-recurring expenditures may be funded from recurring revenues, non-recurring revenues and other sources or from undesignated fund balance in excess of the contingency reserve. Unused appropriations may be transferred during the year by the Town Manager within the level of budgetary control to any item required for the same general purpose. Items ordered during the year but not yet received will be encumbered and carried over for two months following year end at which they will expire unless carried over to the new year, Budgetary Display Formatting of the annual operating budget shall be done in a way so that readers can easily distinguish between: a) A structurally balanced “breakeven” budget in which recurring revenues are equal or greater than recurring expenditures and total expenditures and other uses are equal to total revenues and other uses resulting in an unchanged projected ending fund balance b) A surplus budget in which recurring revenues are equal or greater than recurring expenditures and total expenditures and other uses are less than total revenues and other sources resulting in a projected increase in fund balance. This budget should generally only be used when previous year fund balance has fallen below policy guidelines creating a need to rebuild fund balance. c) A structurally balanced budget in which recurring revenues are equal or greater than recurring expenditures but total expenditures and other uses including non-recurring expenditures and uses are greater than total revenues and other sources resulting in a planned drawdown of fund balance that is within policy guidelines. d) A deficit budget that is either unbalanced because recurring expenditures exceed recurring revenues or a budget that draws fund balance below policy guidelines. This type of budget is prohibited by this policy.
B. Budgetary Control
20
The level of budgetary control is the department level budget in the General Fund, Utility Fund, and the fund level in all other funds. Under conditions which may arise and which could not reasonably have been foreseen in the normal process of planning the budget, the Town Council may, by the affirmative vote of a majority of the full membership of the Town Council, amend or change the budget to provide for any additional expense in which the general welfare of the citizenry is involved. These amendments shall be by ordinance, and shall become an attachment to the original budget.
C. Tax Rate Management The property tax rate is divided into two categories by state law: Maintenance & Operations (M & O) and Debt Service (also referred to as the Interest & Sinking Fund or I & S). Debt service tax rate is strictly limited to payment of principal and interest on general obligation debt. Maintenance and operations can be used for a wider range of purposes but is limited by state law regarding how much revenue may increase before triggering a mandatory election. For this reason, once reduced, it is very difficult to increase. Recognizing the need to manage its debt levels and to have adequate revenue capacity to staff and operate future facilities without requiring a tax rate increase the Town will determine annually how much of the M & O rate can be designated a “Capital Dedicated/Future Facility Staffing". This levy will be used to reduce needed debt issuance but will ultimately be available to transfer back to the General Fund once growth has slowed but new facilities are still being brought on-line.
D. Contingency Reserve Provisions shall be made in the annual budget maintaining a contingency reserve fund balance designation in an amount not less than twenty percent (20%) of the total general fund expenditures, to be used in case of unforeseen items of expenditure or revenue shortfalls. (See Town Charter Article VII, Section 7.08). It is also the goal of the Town to achieve and maintain an unassigned fund balance in the General Fund equal to five percent (5%) of budgeted expenditures for unanticipated expenditures, unforeseen revenue fluctuations, or other adverse circumstances. These contingency reserves are further detailed in the Town’s Fund Balance Policy.
E. Planning The budget process will be coordinated in concert with the Town Council’s major strategic planning objectives. A one-year budget is adopted each year and a four-year financial plan is presented to help manage the decisions made for the next fiscal year and the impact it has on future fiscal responsibilities.
F. Reporting Periodic financial reports will be prepared to enable the department directors to manage their budgets and to enable the Finance Department to monitor and control the budget as authorized by the Town Council. Summary financial reports will be presented to the Town Council each month. Such reports will include current year revenue and expenditures in comparison to budget and prior year actual revenues and expenditures. Performance Measures and Productivity
Indicators
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Where appropriate, performance measures and productivity indicators will be used as guidelines and reviewed for efficiency and effectiveness. This information will be included in the annual budgeting processes.
SECTION 17.06: CAPITAL IMPROVEMENT PROGRAM
A. Preparation The Town’s Capital Improvement Program will include all capital projects. The Capital Improvement Program will be prepared annually to be a comprehensive five-year (5) capital program as an attachment to the annual budget.
B. Program Planning The program as submitted shall include: 1. A clear general summary of its contents; 2. A list of all capital improvements which are proposed to be undertaken during the five (5) fiscal years succeeding the budget year, with appropriate supporting information as to the necessity for such improvements; 3. Cost estimates, method of financing, and recommended time schedules for each improvement; and 4. The estimated annual cost of operating and maintaining the facilities to be constructed or acquired. The above information may be revised and extended each year with regard to capital improvements still pending or in process of construction or acquisition. The Capital Improvement Program will be updated and presented to the Town Council, annually.
C. Alternate Resources Where applicable, assessments, impact fees, or other user-based fees should be used to fund capital projects, which have a primary benefit to certain property owners.
D. Debt Financing Recognizing that debt is usually a more expensive financing method, alternative financing sources will be explored before debt is issued. When debt is issued, it will be used to acquire major assets with expected lives, which equal or exceed the average life of the debt issued. The exceptions to this requirement are the traditional costs of marketing and issuing the debt, capitalized labor for design and construction of capital projects, and small component parts, which are attached to major equipment purchases.
E. Reporting
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Periodic financial reports will be prepared to enable the department managers to manage their capital budgets and to enable the Finance Department to monitor the capital budget as authorized by the Town Council.
SECTION 17.07: REVENUE MANAGEMENT
A. Simplicity The Town will strive to keep the revenue system simple, which will result in a decrease of compliance costs for the taxpayer or service recipient and a corresponding decrease in avoidance to pay.
B. Administration The benefits of revenue will exceed the cost of producing the revenue. The cost of collection will be reviewed annually for cost effectiveness. Where appropriate, the Town will use the administrative processes of state or federal collection agencies in order to reduce administrative costs.
C. Dedication of Revenues Revenues will not be dedicated for specific purposes unless required by law or contractual provisions.. All non-restricted revenues will be deposited into the General Fund and appropriated by the budget process.
D. Financial Stability Current revenues will fund current expenditures and one-time revenues will not be used for ongoing operations. Non-recurring revenues will be used only for non-recurring expenditures. Care will be taken not to use these revenues for budget balancing purposes.
E. Property Tax Revenues Property shall be assessed at 100% of the fair market value as appraised by the Collin and Denton Appraisal Districts. Reappraisal and reassessment shall be done regularly, as required by state law. All delinquent taxes will be pursued and turned over to a private attorney. A penalty will be assessed to compensate the attorney as allowed by state law, and in accordance with the attorney’s contract.
F. User-Based Fees For services associated with a user fee or a fee to offset charge, the direct and indirect costs of that service will be imposed. There will be a periodic review of fees and charges to ensure that
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fees provide adequate coverage of costs of services. User charges may be classified as “full cost recovery,” “partial cost recovery,” and “minimal cost recovery,” based on Town Council policy.
G. Impact Fees Impact fees are currently imposed for water, wastewater, and roadway in accordance with applicable Town ordinances and state law. Impact fees will be re-evaluated at least every five years, as required by law.
H. Utility Rates The Town will review utility rates periodically, and if necessary, adopt new rates that will generate revenues required to fully cover operating expenses, meet the legal restrictions of all applicable bond covenants, and provide for an adequate level of working capital needs and debt service requirements. This policy does not preclude drawing down cash balance to finance current operations. However, it is best that any extra cash balance be used instead to finance capital projects.
I. Interest Income Interest earned from investment of available cash resources, whether pooled or not, will be distributed to the funds in accordance with the average monthly cash balances.
J. Revenue Monitoring Revenues actually received will be regularly compared to budgeted revenues and variances will be investigated. This process will be summarized in the appropriate budget report.
SECTION 17.08: EXPENDITURE CONTROL
A. Appropriations The level of budgetary controls is explained in Section 17.05.C. Budgetary Control. When budget amendments between departments and/or funds are necessary, Town Council must approve these. Budget appropriation amendments at lower levels of control shall be made in accordance with the applicable administrative procedures.
B. Purchasing All purchases shall be in accordance with the Town’s Purchasing Policy.
C. Lapse of Appropriations Every appropriation, except an appropriation for capital expenditures, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a capital expenditure shall continue in force until the purpose for which it was made has been
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accomplished or abandoned. The purchase of any such appropriation shall be deemed abandoned if three (3) years pass without any disbursement form or encumbrance of the appropriation. Any funds not expended, disbursed or encumbered shall be deemed excess funds.
SECTION 17.09: ASSET MANAGEMENT
A. Investments The Town’s investment practices will be conducted in accordance with the Public Funds Investment Act (PFIA) and the Town Council approved Investment Policy and Strategy.
B. Cash Management The Town’s cash flow will be managed to maximize the cash available to invest.
C. Investment Performance A quarterly report on investment performance will be provided by the Finance Director for presentation to the Town Council.
D. Fixed Assets and Inventory These assets will be reasonably safeguarded and properly accounted for, and prudently insured.
SECTION 17.10: FINANCIAL CONDITION AND RESERVES
A. No Operating Deficits Current expenditures will be paid with current revenues and prior year surplus. Deferrals, short-term loans, or one-time resources will be avoided as budget balance techniques. Reserves will be used only for emergencies or non-recurring expenditures.
B. Operating Reserves In accordance with GASB-54, it is the policy of the Town to classify fund balances as Non-spendable, Restricted, Committed, Assigned, or Unassigned and develop policy for establishment and activity of each classification. See Fund Balance Policy that defines such categories.
C. Minimum Unassigned Fund Balance It is the goal of the Town to achieve and maintain an unassigned fund balance in the General Fund equal to five percent (5%) of budgeted expenditures for unanticipated expenditures, unforeseen revenue fluctuations, or other adverse circumstances. This amount is in addition to the twenty percent (20%) restricted fund balance amount required by the Town Charter.
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D. Risk Management Program The Town will aggressively pursue every opportunity to provide for the public’s and Town employees’ safety and to manage its risks.
E. Loss Financing All reasonable options will be investigated to finance losses. Such options may include risk transfer, insurance, and risk retention.
F. Enterprise Fund Self-Sufficiency The Town’s enterprise funds’ resources will be sufficient to fund operating and capital expenditures. The enterprise funds will pay (where applicable) their fair share of general and administrative expenses in lieu of property taxes and/or franchise fees. If an enterprise fund is temporarily unable to pay all expenses, then the Town Council may waive general and administrative expenses in lieu of property taxes and/or franchise fees until the fund is able to pay them.
G. Special Purpose Districts Cash Reserves
The Town has two Special Purpose Districts: Crime Control and Prevention Special Purpose District; and Fire Control, Prevention and Emergency Medical Services Special Purpose District. It is the desire of the Town to maintain a cash reserve balance equal to twenty-five thousand dollars in each of the Special Purpose Districts beginning in fiscal year 20-21 and future fiscal years.
H. Contingent Budget Measures Economic downturns including recessions are inevitable even in a rapidly growing community. The dynamic economy of both Texas and Dallas Fort Worth metroplex and Prosper’s location in the northern growth path make it likely that even recessions will be more a “pause” rather than a “stop”. However, the town must ensure that a structurally balanced budget is maintained even if debt issuance and staffing additions must be paused until the economy recovers.
SECTION 17.11: DEBT MANAGEMENT
A. General The Town’s borrowing practices will be conducted in accordance with the Town Council approved Debt Management and Debt Post Issuance Policies.
B. Self-Supporting Debt When appropriate, self-supporting revenues will pay debt services in lieu of tax revenues.
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C. Analysis of Financing Alternatives The Town will explore all financing alternatives in addition to long-term debt including leasing, grants and other aid, developer contributions, impact fees, and use of reserves.
D. Voter Authorization The Town shall obtain voter authorization before issuing General Obligation Bonds as required by law. In general, voter authorization is not required for the issuance of Revenue Bonds and Certificates of Obligation.
SECTION 17.12: STAFFING AND TRAINING
A. Adequate Staffing Staffing levels will be adequate for the fiscal functions of the Town to function effectively. Comparison of workload and staffing levels of comparison cities will be explored before adding staff.
B. Training The Town will support the continuing education efforts of all financial staff including the investment in time and materials for maintaining a current perspective concerning financial issues. Staff will be held accountable for communicating, teaching, and sharing with other staff members all information and training materials acquired from seminars, conferences, and related education efforts.
C. Awards, Credentials The Town will support efforts and involvements which result in meeting standards and receiving exemplary recitations on behalf of any of the Town’s fiscal policies, practices, processes, products, and personnel. Staff certifications may include Certified Public Accountant, Certified Management Accountant, Certified Internal Auditor, Certified Payroll Professional, Certified Government Finance Officer, Professional Public Buyer, Certified Cash Manager, PFIA investment training, and others as approved by the Town Manager upon recommendation of the Finance Director.
SECTION 17.13: GRANT MANAGEMENT
A. General The Town’s grant management practices will be conducted in accordance with the Town’s Grant Management Policy.
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TOWN OF PROSPER
ADMINISTRATIVE REGULATIONS
CHAPTER 15:C DEBT MANAGEMENT POLICY
SECTION 15.01: PURPOSE AND OVERVIEW The Town of Prosper recognizes that the foundation of any well-managed debt program are comprehensive debt management and post issuance policies that are fully integrated with the long-term capital plan and related five-year operating budget forecasts. This policy outlines the need to identify all possible non-debt capital plan funding sources first, and then establishes parameters for issuing new debt and managing the existing debt portfolio. It identifies permissible and preferred types, structures and amounts of debt; providing guidance to decision makers regarding the purposes for which debt may be issued. This policy is aligned and compliments Chapter 16: Debt Post Issuance-Monitoring and Compliance Policy. Adherence to a debt management policy helps ensure that the Town maintains the current or an improved bond rating in order to minimize borrowing costs and preserve access to credit. The Town’s Debt Management Policy (“the Debt Policy”) provides guidance for staff to promote: 1.High quality debt management decisions;2.Support for debt issuances both internally and externally;3.Order and discipline in the debt issuance process;4.Consistency and continuity in the decision making process;5.A positive perception of the debt management program by rating agencies, investmentcommunity and taxpayers; and6.A commitment to long-term financial planning objectives.
SECTION 15.02: SCOPE This Policy applies to all debt instruments issued by the Town regardless of the funding source. Funding sources can be derived from, and debt secured by, ad valorem taxes, general Town revenues, enterprise fund revenues or any other identifiable source of revenue that may be identified for appropriate pledging for bonded indebtedness.
SECTION 15.03: OBJECTIVES The primary objective of this Policy is to ensure that the Town establishes and maintains a solid position with respect to its debt service and bond proceed funds and that proceeds from long-term
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debt will not be used for current operations but rather for capital improvements, and related expenses, and other long-term assets in accordance with state law and Town ordinances. The Town will seek all possible federal and state reimbursement for mandated projects and/or programs. The Town will pursue a balanced relationship between issuing debt and pay-as-you-go financing as dictated by prevailing economic factors and as directed by the Town Council. Other objectives include: 1.Bonds shall be paid back within a period not to exceed, and preferably sooner than, theexpected useful life of the capital project;2.Decisions shall be made based on a number of factors and will be evaluated against long- term goals rather than a short-term fix; and3.Debt service and bond proceed funds shall be managed and invested in accordance with allfederal, state and local laws and in conjunction with the Tax Compliance Certificate of eachbond issue to assure availability to cover project costs and debt service payments when due.
SECTION 15.04: IMPLEMENTATION The Policy requires: 1.Payment of principal and interest on all outstanding debt in full and timely manner;2.Incurrence of debt for those purposes permissible under State law and the home-rule charterof the Town;3. Development, approval and financing of capital improvements in accordance with Town Codeand the capital improvement budgeting process;4.Structuring of principal and interest retirement schedules to: 1) achieve a low borrowing costfor the Town, 2) accommodate the debt service payments of existing debt, and 3) respond toperceptions of market demand. Shorter maturities shall always be encouraged todemonstrate to rating agencies that debt is being retired at a sufficiently rapid pace;5.Selection of a method of sale that shall maximize the financial benefit to the Town;6.Effective communication with bond rating agencies to ensure complete and clearunderstanding of the credit worthiness of the Town; and7.Full, complete, and accurate disclosure of financial conditions and operating results in everyfinancial report, bond prospectus and Annual Information Statement ("AIS"). All reports shallconform to guidelines issued by the Government Finance Officers Association ("GFOA"),Securities and Exchange Commission ("SEC"), and the Internal Revenue Service (IRS) to meetthe disclosure needs of rating agencies, underwriters, investors, and taxpayers.
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SECTION 15.05: STRUCTURE OF DEBT Debt service shall be structured to the greatest extent possible to: 1.Target projected cash flows and pledged revenues;2.Minimize the impact on future tax levies;3.Target a consistent and as rapid as feasible payment of principal;4.Maintain a level overall annual debt service payment structure; and5.Target the equal or the lesser of the useful life of the asset being financed, or the maximumlegal maturity for the obligations issued to finance the acquisition and construction of theasset.
A.Fixed Interest versus Variable InterestThe Town generally issues fixed rate bonds primarily to protect the Town against interest raterisk. The Town has the option to issue variable rate bonds if market conditions warrant andCouncil approves it.
B.Other ConsiderationsBonds are generally issued such that:1.The final maturity is 20 years or less for general obligation bonds and revenue bonds, theTown may choose a longer term for revenue bonds for projects whose lives are greater than20 years.2.Debt service interest is paid in the first fiscal year after a bond sale, and principal is targetedto commence no later than the second fiscal year after the debt is issued. However, the Townmay defer principal for a longer period of time in order to maintain a specific I&S tax rate ora certain level of debt service.3.Call provisions for bond issues shall be made as short as possible consistent with the lowestinterest cost to the Town. The targeted maximum length to call is 10 years.
SECTION 15.06: FINANCING ALTERNATIVES The Town shall develop a level of cash and debt funded capital improvement projects that provide the citizens with the desired amount of Town services at the lowest cost. Town staff shall assess all financial alternatives for funding capital improvements prior to issuing debt.
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Long-term general obligation debt, including certificates of obligation, or revenue bonds shall be issued to finance significant and desirable capital improvements. Proceeds of general obligation debt will be used only for the purposes approved by voters in bond elections or set forth in the notices of intent for certificates of obligation or to refund previously issued general obligation bonds, certificates of obligation or revenue bonds. All bonds shall be sold in accordance with applicable law.
A.Pay-As-You-Go FinancingPay-as-you-go financing should be considered before issuing any debt. Pay-as-you go financingmay include: intergovernmental grants from federal, state and other sources, current revenuesor fund balances, private sector contributions, and public/private partnerships. Once the Townhas determined that pay-as-you-go is not a feasible or sufficient financing option, the Town mayuse bonds, loans, or other debt financing sources as deemed appropriate by Town staff andapproved by Council.
B.General Obligation BondsGeneral obligation bonds may be used if the following criteria are met:1.The size of the issuance is $1 million or above;2.The GO bond funds are used for new and expanded facilities, major repair or renovations toexisting facilities, or quality-of-life projects;3.The useful life of the capital asset acquired/constructed/improved will be ten (10) years ormore, or the funds will extend the useful life of an asset for more than ten (10) years; and4.Voter authorization is given through approval in a bond election in accordance with State law.GO bonds may be used to fund quality-of-life projects that include, but are not limited to, the Town’s parks, libraries, non-public safety facilities, internet and entertainment, sports and amusement-type facilities.
C.Certificates of ObligationCOs will be issued for the following projects/acquisitions:1.Finance permanent improvements and land acquisition;2.Acquire equipment/vehicles;3.Leverage grant funding;4.Renovate, acquire, construct facilities and facility improvements;5.Construct street improvements;6.Provide funding for master plans/studies;
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7.Infrastructure projects (including street, water and sewer and drainagework)8.Emergency Town facilities rehabilitation (storm water drainage, etc.)9.Major core service facilities (police, fire, streets, etc.)Notwithstanding the policy set forth herein, certificates of obligation or other long-term debt may be considered if the following criteria are met: 1.The need for the project is urgent and immediate;2.The project(s) is necessary to prevent an economic loss to the Town;3.Source of revenue is specific and can be expected to cover the additional debt;4.The expected debt is the most cost effective financing option available.In addition, the final maturity of non-voter approved debt shall not exceed the average life of the project financed. Capital items shall have a value of at least $5,000 and a life of at least four years.
D.Reimbursement ResolutionsReimbursement resolutions, if required for funds to be advanced prior to issuance of generalobligation debt, may be used for projects funded through General Obligation Bonds andCertificates of Obligation.
E.Certificates of Obligations - Enterprise FundCertificates of obligation for an enterprise system will be limited to only those projects, whichcan demonstrate the capability to support the certificate debt either though its own revenues, oranother pledged source other than ad valorem taxes and meet the same criteria as outlined above.
F.Revenue BondsRevenue bonds may be issued for projects that generate revenues that are sufficient to repay thedebt. Except where otherwise required by state statutes, revenue bonds may be issued withoutvoter approval and only in accordance with the laws of Texas.
G.Other debt obligationsThe use of other debt obligations, permitted by law, including but not limited to public propertyfinance act contractual obligations, pension obligation bonds; tax notes and lease purchaseobligations will be reviewed on a case-by-case basis. The findings above will be considered forthe use of these obligations.
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SECTION 15.07: METHODS OF SALE The Town’s debt obligations may be sold by competitive or negotiated sale methods. The selected method of sale depends upon the option which is expected to result in the lowest cost and most favorable terms to the Town given the financial structure used, market conditions, and prior experience. When considering the method of sale, the Town may consider the following issues: 1.Financial conditions;2.Market conditions;3.Transaction-specific conditions;4.Town-related conditions;5.Risks associated with each method;6.Complexity of the Issue – Municipal securities with complex security features require greatermarketing and buyer education efforts on the part of the underwriter, to improve theinvestors’ willingness to purchase;7.Volatility of Bond Yields – If municipal markets are subject to abrupt changes in interest rates,there may be a need to have some flexibility in the timing of the sale to take advantage ofpositive market changes or to delay a sale in the face of negative market changes;8.Familiarity of Underwriters with the Town’s Credit Quality – If underwriters are familiar withthe Town’s credit quality, a lower True Interest Cost (TIC) may be achieved. Awareness of the credit quality of the Town has a direct impact on the TIC an underwriter will bid on an issue.Therefore, where additional information in the form of presale marketing benefits theinterest rate, a negotiated sale may be recommended. The Town strives to maintain anexcellent bond rating. As a result, the Municipal Bond Market is generally familiar with theTown’s credit quality; and9.Size of the Issue – The Town may choose to offer sizable issues as negotiated sales so thatpre-marketing and buyer education efforts may be done to more effectively promote the bondsale.
A.Competitive SaleIn a competitive sale, bonds are awarded in a sealed bid sale to an underwriter or syndicate ofunderwriters that provides the lowest TIC bid. TIC is defined as the rate, which will discount theaggregate amount of debt service payable over the life of the bond issue to its present value onthe date of delivery. It is customary for bids to be submitted electronically through a securewebsite.
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B.Negotiated SaleIn a negotiated sale, the Town chooses an underwriter or underwriting syndicate that isinterested in reoffering a particular series of bonds to investors. The terms of the sale, includingthe size of the underwriter’s discount, date of sale, and other factors, are negotiated between thetwo parties. Although the method of sale is termed negotiated, individual components of the salemay be competitively bid. The components are subject to a market analysis and reviewed priorto recommendation by staff. Negotiated sales are more advantageous when flexibility in the saledate is needed or when less conventional bond structures are being sold. Negotiated sales arealso often used when the issue is particularly large or if the sale of the debt issuance would beperceived to be more successful with pre-marketing efforts.
C.Private PlacementA private placement is a negotiated sale of debt securities to a limited number of selectedinvestors including financial institutions, government agencies, or authorities. The Town mayengage a placement agent to identify likely investors if deemed necessary. A private placementmay be beneficial when the issue size is small, when the security of the bonds is somewhatweaker, or when a governmental lending agency or authority can provide beneficial interestrates or terms compared to financing in the public market.
SECTION 15.08: REFUNDING OF DEBT All forms of refunding debt shall be approved by Council in accordance with Town ordinances and the Department of Finance and Administration in accordance with state law.
A.Advance RefundingAdvanced refunding and forward delivery refunding transactions for savings may be consideredwhen the net present value savings as a percentage of the par amount of refunded bonds isapproximately three percent.
B.Current RefundingCurrent refunding transactions issued for savings maybe considered when the net present valuesavings as a percentage of the par amount of refunded bonds is approximately three percent.
C.Refunding for Debt RestructuringFrom time to time, the Town may also issue refunding debt for other purposes, rather than netpresent value savings, such as restructuring debt, changing covenants, or changing the repayment source of the bonds.
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SECTION 15.09: DEBT LIMITS The total principal amount of general obligation bonds together with the principal amount of all other outstanding tax indebtedness of the Town to be repaid from the Debt Service Fund will be targeted to not exceed four percent of the total assessed valuation of the Town's tax rolls. The Town will target an I&S tax rate that makes up 40% or less of the Town’s total tax rate (M&O tax rate plus I&S tax rate). The Enterprise Fund will target the net revenues available for debt service to exceed 125 times the outstanding revenue-backed debt service payments.
SECTION 15.10: MATURITY LEVELS
A.Revenue DebtThe maximum maturity of revenue debt shall not exceed the expected useful life of the capitalasset being financed and in no case shall it exceed thirty years.
B.General Obligation DebtThe maximum maturity of general obligation debt shall be targeted not to exceed twenty years.
SECTION 15.11: MANAGEMENT OF DEBT SERVICE FUND
A.Interest EarningsInterest earnings on bond and loan proceeds shall be used solely to fund direct or related capitalexpenditures, or to service current and future debt payments.
B.Debt Service Reserves – General Obligation BondsDebt service reserves for general obligation bonds shall not be required.
C.Debt Service Reserves – Revenue BondsDebt service reserves for revenue bonds shall be maintained at levels required by controllingbond ordinances.
D.Legal Regulatory and Covenant RequirementsThe Town shall comply with all Federal and State laws, SEC regulations and related contractualand covenant requirements. See Chapter 16: Debt Post Issuance Monitoring and Compliance.
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SECTION 15.12: RATINGS Adherence to a debt management policy helps insure that the Town maintains the current or an improved bond rating in order to minimize borrowing costs and preserve access to credit. Toward that end, the Town will take the following steps. 1.Strive to maintain good relationships with bond rating agencies as well as disclose financialreports and information to these agencies and to the public.2.Obtain a rating from at least one nationally recognized bond-rating agency on all issues beingsold in the public market.3.Make timely disclosure of annual financial information or other requested information to therating agencies.
SECTION 15.13: CONTINUING DISCLOSURE The Town will take all appropriate steps to comply with federal securities laws, including, but not limited to, Securities and Exchange Commission Rule 15c2-12 (the "Rule"). The Town will make annual and event disclosure filings to the MSRB via EMMA, as required by the Rule and its continuing disclosure undertakings.
SECTION 15.14: SELECTION OF FINANCIAL ADVISOR The Town shall retain an independent financial advisor for advice on the structuring of new debt, financial analysis of various options, including refunding opportunities, the rating review process, the marketing and marketability of Town debt obligations, issuance and post- issuance services, the preparation of offering documents (each, an "Official Statement") and other services, as necessary. The Town will seek the advice of the financial advisor on an ongoing basis. The financial advisor will perform other services as defined by the agreement approved by the Town Council. The financial advisor will not bid on nor underwrite any Town debt issues in accordance with MSRB rules.
SECTION 15.15: SELECTION OF BOND COUNSEL The Town shall retain bond counsel for legal and procedural advice on all debt issues. Bond counsel shall advise the Town Council in all matters pertaining to its bond ordinance(s) and /or resolution(s). No action shall be taken with respect to any obligation until a written instrument (e.g., Certificate for Ordinance or other legal instrument) has been prepared by the bond attorneys certifying the legality of the proposal. The bond attorneys shall prepare all ordinances and other legal instruments required for the execution and sale of any bonds issued which shall then be reviewed by the Town Attorney and the Director of Finance. The Town will also seek the advice of bond counsel on all other types of debt and on any other questions involving state law and federal tax or arbitrage law. Special counsel may be retained to protect the Town's interest in complex negotiations.
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TOWN OF PROSPER
ADMINISTRATIVE REGULATIONS
CHAPTER 16: DEBT POST ISSUANCE POLICY
SECTION 16.01: PURPOSE AND OVERVIEW The Town of Prosper will establish all necessary debt post issuance procedures to ensure compliance with all federal, state, contractual and covenant requirements.
SECTION 16.02: GENERAL PROCEDURES
A.The Tax Compliance Certificate1.The Tax Compliance Certificate ("Tax Certificate") issued for each bond issue describing therequirements and provisions of the Code must be followed in order to maintain the tax-exempt status of the interest on such bonds.2.The Tax Certificate will contain the reasonable expectations of the Town at the time ofissuance of the related bonds with respect to the use of the gross proceeds of such bonds and the assets to be financed or refinanced with the proceeds thereof.3.Procedures put in place by the Town supplement and support the covenants andrepresentations made by the Town in the Tax Certificate related to specific issues of tax-exempt bonds. In order to comply with the covenants and representations set forth in thebond documents and in the Tax Certificate, the Town will monitor all Town bond issues using the post issuance compliance requirements.
B.State ComplianceThe local government code and other state statutes contain various requirements related tofiling a debt issuance for review by the attorney general and filing debt related information withthe Comptroller of Public Accounts.
C.Federal- SEC Continuing Disclosure RequirementsThe Securities and Exchange Commission has promulgated various requirementsfor underwriters of municipal debt requiring issuers to file specified continuingdisclosures on an annual basis as well as event notices of a material nature withinten business days of the occurrence of the event. Specific financial and operatingdata to be included in the annual continuing disclosure filings are listed in each ofthe Town’s Official Statements. It should be noted that once a disclosure iscommitted to in an official statement that requirement remains in effect until alldebt from that specific official statements is retired even if less stringent
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requirements are included in future official statements.
SECTION 16.03: DESIGNATION OF RESPONSIBLE PERSON The Finance Director shall maintain an inventory of bonds and assets financed which contain the pertinent data to satisfy the Town's monitoring responsibilities. Any transfer, sale or other disposition of bond-financed assets shall be reviewed and approved by the Town Council in accordance with state law, federal tax law and the Town’s ordinances.
SECTION 16.04: EXTERNAL ADVISORS/DOCUMENTATION The Town shall consult with bond counsel and other legal counsel and advisors, as needed, throughout the issuance process to identify requirements and to establish procedures necessary or appropriate so that the bonds will continue to qualify for tax-exempt status. Those requirements and procedures shall be documented in the Tax Certificate and/or other documents finalized at or before issuance of the bonds. Those requirements and procedures shall include future compliance with applicable arbitrage rebate requirements and all other applicable post-issuance requirements of federal tax law throughout (and in some cases beyond) the term of the bonds. 1.The Town also shall consult with bond counsel and other legal counsel and advisors asneeded following issuance of the bonds to ensure that all applicable post-issuancerequirements are met. This shall include, without limitation, consultation in connection withfuture long-term contracts with private parties for the use of bond- financed or refinancedassets.2.The Town shall engage expert advisors (a "Rebate Service Provider") to assist in thecalculation of the arbitrage rebate payable with respect to the investment of the bondproceeds, unless the Tax Certificate documents that arbitrage rebate will not be applicableto an issue of bonds.3.Unless otherwise provided by the resolution or other authorizing documents relating to thebonds, unexpended bond proceeds shall be held in a segregated bond account. Theinvestment of bond proceeds shall be managed by the Town. The Town shall prepare regular, periodic statements regarding the investments and transactions involving bond proceeds.
SECTION 16.05: ARBITRAGE REBATE AND YIELD Unless the Tax Certificate documents that arbitrage rebate will not be applicable to an issue of bonds, the Town shall be responsible for: 1.Engaging, by contract, the services of a Rebate Service Provider, procured in accordance with State law and Town ordinances.2.Providing to the Rebate Service Provider, as may be requested, additional documents andinformation pertaining to the expenditure of proceeds from each bond issue being annuallyreviewed.3.Monitoring the services of the Rebate Service Provider.
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4.Assuring payment of the required rebate amounts, if any, no later than sixty (60) days aftereach five (5) year anniversary of the issue date of the bonds, and no later than sixty (60)days after the last bond of each issue is redeemed.5.During the construction period of each capital project financed in whole or in part by bonds,monitoring the investment and expenditure of bond proceeds and consulting with the Rebate Service Provider to determine compliance with the applicable exceptions with any arbitragerebate requirements.6.Retaining copies of all arbitrage reports and account statements as described below under"Record Keeping Requirements.”
SECTION 16.06: USE OF BOND PROCEEDS AND BOND-FINANCED OR
REFINANCED ASSETS The Town, in the Tax Certificate and/or other documents finalized at or before the issuance of the bond, shall be responsible for the following tasks: 1.Monitoring the use of bond proceeds and the use of bond-financed or refinanced assets (e.g.,facilities, furnishing or equipment) throughout the term of the bonds to ensure compliancewith covenants and restrictions set forth in the Tax Certificate.2.Maintaining records identifying the capital assets or portion of capital assets that arefinanced or refinanced with proceeds of the bonds, including a final allocation of bondproceeds, as described below under Record Keeping Requirements.3.Consulting with bond counsel and other legal counsel and advisors in the review of anycontracts or arrangements involving private use of bond-financed or refinanced assets toensure compliance with all covenants and restrictions s et forth in the Tax Certificate.4.Maintaining records for any contracts or arrangements involving the use of bond- financedor refinanced assets, as described below under Record Keeping Requirements.5.To the extent that the Town discovers that any applicable tax restrictions regarding use ofthe bond proceeds and bond-financed or refinanced assets may have or may be violated,consulting promptly with bond counsel and other legal advisors to determine a course ofaction to remediate all non-qualified bonds, if such counsel advises that a remedial action isnecessary.
SECTION 16.07: RECORD KEEPING REQUIREMENT The Town shall be responsible for maintaining the following documents for the term of the issuance of bonds (including refunding bonds, if any) plus at least three years. 1.A copy of the bond closing transcript(s) and other relevant documentation delivered to theTown at or in connection with closing of the issuance of bonds, including any electionsmade by the Town in connection therewith.2.A copy of all material documents relating to capital expenditures financed or refinanced by
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bond proceeds, including (without limitation) construction contracts, purchase orders, invoices, requisitions and payment records, draw requests for bond proceeds and evidence as to the amount and date for each draw down of bond proceeds, as well as documents relating to costs paid or reimbursed with bond proceeds and records identifying the asset or portion of assets that are financed or refinanced with bond proceeds, including a final allocation of bond proceeds. 3.A copy of all contracts and arrangements involving the use of bond-financed or refinancedassets.4.A copy of all records of investments, investment agreements, arbitrage reports andunderlying documents in connection with any investment agreements, and copies of allbidding documents, if any. [Paying agent account statements, bank statements for reservefunds, etc.]
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Town Staff
Town Manager's Office
Town Secretary's Office
Finance
Human Resources
Information Technology
Communications
Municipal Court
Police
Fire
Infrastructure Services
Development Services
Public Works
Parks and Recreation
Library
Engineering
Consultants
Auditors
Bond Counsel
Town Attorney
Financial Advisors
Risk Management
Town Staff and Consultants
Mario Canizares, Town Manager
Bob Scott, Deputy Town Manager
Michelle Lewis Sirianni, Town Secretary
Chris Landrum, Finance Director
Tony Luton, Human Resources Director
Leigh Johnson, Information Technology Director
Robyn Battle, Executive Director
Judith Jacinto, Court Administrator
Doug Kowalski, Police Chief
Stuart Blasingame, Fire Chief
Chuck Ewings, Assistant Town Manager
David Hoover, Development Services Director
Carrie Jones, Public Works Director
Dan Baker, Parks and Recreation Director
Vacant , Library Director
Hulon Webb, Director of Engineering Services
Weaver & Tidwell, L.L.P. - Sara Dempsey
McCall, Parkhurst & Horton, L.L.P. - Chris Settle
Brown & Hofmeister, L.L.P. ‐ Terry Welch
Hilltop Securities, Inc ‐ Jason Hughes
TML Intergovernmental Risk Pool
41
Form developed by: Texas Comptroller of Public Accounts, Property Tax Assistance Division For additional copies, visit: comptroller.texas.gov/taxes/property-tax
50-856 • 6-24/11
Form 50-8562024 Tax Rate Calculation WorksheetTaxing Units Other Than School Districts or Water Districts
____________________________________________________________________________ ________________________________
Taxing Unit Name Phone (area code and number)
____________________________________________________________________________ ________________________________
Taxing Unit’s Address, City, State, ZIP Code Taxing Unit’s Website Address
GENERAL INFORMATION: Tax Code Section 26.04(c) requires an officer or employee designated by the governing body to calculate the no-new-revenue (NNR) tax rate and
voter-approval tax rate for the taxing unit. These tax rates are expressed in dollars per $100 of taxable value calculated. The calculation process starts after the chief appraiser
delivers to the taxing unit the certified appraisal roll and the estimated values of properties under protest. The designated officer or employee shall certify that the officer or
employee has accurately calculated the tax rates and used values shown for the certified appraisal roll or certified estimate. The officer or employee submits the rates to the
governing body by Aug. 7 or as soon thereafter as practicable.
School districts do not use this form, but instead use Comptroller Form 50-859 Tax Rate Calculation Worksheet, School District without Chapter 313 Agreements or Comptroller Form
50-884 Tax Rate Calculation Worksheet, School District with Chapter 313 Agreements.
Water districts as defined under Water Code Section 49.001(1) do not use this form, but instead use Comptroller Form 50-858 Water District Voter-Approval Tax Rate Worksheet for
Low Tax Rate and Developing Districts or Comptroller Form 50-860 Developed Water District Voter-Approval Tax Rate Worksheet.
The Comptroller’s office provides this worksheet to assist taxing units in determining tax rates. The information provided in this worksheet is offered as technical assistance and not
legal advice. Taxing units should consult legal counsel for interpretations of law regarding tax rate preparation and adoption.
SECTION 1: No-New-Revenue Tax Rate
The NNR tax rate enables the public to evaluate the relationship between taxes for the prior year and for the current year based on a tax rate that would produce the same amount
of taxes (no new taxes) if applied to the same properties that are taxed in both years. When appraisal values increase, the NNR tax rate should decrease.
The NNR tax rate for a county is the sum of the NNR tax rates calculated for each type of tax the county levies.
While uncommon, it is possible for a taxing unit to provide an exemption for only maintenance and operations taxes. In this case, the taxing unit will need to calculate the NNR tax
rate separately for the maintenance and operations tax and the debt tax, then add the two components together.
Line No-New-Revenue Tax Rate Worksheet Amount/Rate
1.Prior year total taxable value. Enter the amount of the prior year taxable value on the prior year tax roll today. Include any adjustments since last
year’s certification; exclude Tax Code Section 25.25(d) one-fourth and one-third over-appraisal corrections from these adjustments. Exclude any
property value subject to an appeal under Chapter 42 as of July 25 (will add undisputed value in Line 6). This total includes the taxable value of
homesteads with tax ceilings (will deduct in Line 2) and the captured value for tax increment financing (adjustment is made by deducting TIF taxes,
as reflected in Line 17).1 $ _____________
2.Prior year tax ceilings. Counties, cities and junior college districts. Enter the prior year total taxable value of homesteads with tax ceilings.
These include the homesteads of homeowners age 65 or older or disabled. Other taxing units enter 0. If your taxing unit adopted the tax ceiling
provision last year or a prior year for homeowners age 65 or older or disabled, use this step.2 $ _____________
3.Preliminary prior year adjusted taxable value. Subtract Line 2 from Line 1.$ _____________
4.Prior year total adopted tax rate.$ __________/$100
5.Prior year taxable value lost because court appeals of ARB decisions reduced the prior year’s appraised value.
A.Original prior year ARB values:....................................................................... $ _____________
B.Prior year values resulting from final court decisions:................................................ - $ _____________
C. Prior year value loss. Subtract B from A.3 $ _____________
6.Prior year taxable value subject to an appeal under Chapter 42, as of July 25.
A.Prior year ARB certified value: ....................................................................... $ _____________
B.Prior year disputed value:............................................................................ - $ _____________
C. Prior year undisputed value. Subtract B from A. 4 $ _____________
7.Prior year Chapter 42 related adjusted values. Add Line 5C and Line 6C.$ _____________
1 Tex. Tax Code §26.012(14)
2 Tex. Tax Code §26.012(14)
3 Tex. Tax Code §26.012(13)
4 Tex. Tax Code §26.012(13)
Town of Prosper 972-346-2640
250 W. First Street, Prosper, TX 75078 www.prospertx.gov
8,843,744,468
720,744,601
8,122,999,867
0.510000
382,185,549
360,385,594
21,799,955
148,105,438
16,771,956
131,333,482
153,133,437
42
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 2
Line No-New-Revenue Tax Rate Worksheet Amount/Rate
8.Prior year taxable value, adjusted for actual and potential court-ordered adjustments. Add Line 3 and Line 7.$ _____________
9.Prior year taxable value of property in territory the taxing unit deannexed after Jan. 1, 2023. Enter the prior year value of property in
deannexed territory. 5 $ _____________
10.Prior year taxable value lost because property first qualified for an exemption in the current year. If the taxing unit increased an original
exemption, use the difference between the original exempted amount and the increased exempted amount. Do not include value lost due to
freeport, goods-in-transit, temporary disaster exemptions. Note that lowering the amount or percentage of an existing exemption in the current
year does not create a new exemption or reduce taxable value.
A. Absolute exemptions. Use prior year market value: .................................................... $ _____________
B. Partial exemptions. Current year exemption amount or current year percentage exemption
times prior year value: ................................................................................. + $ _____________
C. Value loss. Add A and B. 6 $ _____________
11.Prior year taxable value lost because property first qualified for agricultural appraisal (1-d or 1-d-1), timber appraisal, recreational/
scenic appraisal or public access airport special appraisal in the current year. Use only properties that qualified for the first time in the cur-
rent year; do not use properties that qualified in the prior year.
A. Prior year market value:.............................................................................. $ _____________
B. Current year productivity or special appraised value:................................................ - $ _____________
C. Value loss. Subtract B from A. 7 $ _____________
12.Total adjustments for lost value. Add Lines 9, 10C and 11C.$ _____________
13.Prior year captured value of property in a TIF. Enter the total value of the prior year captured appraised value of property taxable by a tax-
ing unit in a tax increment financing zone for which the prior year taxes were deposited into the tax increment fund. 8 If the taxing unit has no
captured appraised value in line 18D, enter 0.$ _____________
14.Prior year total value. Subtract Line 12 and Line 13 from Line 8.$ _____________
15.Adjusted prior year total levy. Multiply Line 4 by Line 14 and divide by $100.$ _____________
16.Taxes refunded for years preceding the prior tax year. Enter the amount of taxes refunded by the taxing unit for tax years preceding the
prior tax year. Types of refunds include court decisions, Tax Code Section 25.25(b) and (c) corrections and Tax Code Section 31.11 payment
errors. Do not include refunds for the prior tax year. This line applies only to tax years preceding the prior tax year. 9 $ _____________
17.Adjusted prior year levy with refunds and TIF adjustment. Add Lines 15 and 16. 10 $ _____________
18.Total current year taxable value on the current year certified appraisal roll today. This value includes only certified values or certified esti-
mate of values and includes the total taxable value of homesteads with tax ceilings (will deduct in Line 20). These homesteads include home-
owners age 65 or older or disabled. 11
A. Certified values:...................................................................................... $ _____________
B. Counties: Include railroad rolling stock values certified by the Comptroller’s office: ....................... + $ _____________
C. Pollution control and energy storage system exemption: Deduct the value of property exempted
for the current tax year for the first time as pollution control or energy storage system property:........... - $ _____________
D. Tax increment financing: Deduct the current year captured appraised value of property taxable by a taxing
unit in a tax increment financing zone for which the current year taxes will be deposited into the tax increment
fund. Do not include any new property value that will be included in Line 23 below. 12 .................... - $ _____________
E. Total current year value. Add A and B, then subtract C and D.$ _____________
5 Tex. Tax Code §26.012(15)
6 Tex. Tax Code §26.012(15)
7 Tex. Tax Code §26.012(15)
8 Tex. Tax Code §26.03(c)
9 Tex. Tax Code §26.012(13)
10 Tex. Tax Code §26.012(13)
11 Tex. Tax Code §26.012, 26.04(c-2)
12 Tex. Tax Code §26.03(c)
8,276,133,304
96,449
7,296,147
326,435,620
333,731,767
0
0
0
333,828,216
225,041,393
7,717,263,695
39,358,044
308,936
39,666,980
10,219,940,771
0
256,286,260
9,963,654,511
43
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 3
13 Tex. Tax Code §26.01(c) and (d)
14 Tex. Tax Code §26.01(c)
15 Tex. Tax Code §26.01(d)
16 Tex. Tax Code §26.012(6)(B)
17 Tex. Tax Code §26.012(6)
18 Tex. Tax Code §26.012(17)
19 Tex. Tax Code §26.012(17)
20 Tex. Tax Code §26.04(c)
21 Tex. Tax Code §26.04(d)
Line No-New-Revenue Tax Rate Worksheet Amount/Rate
19.Total value of properties under protest or not included on certified appraisal roll. 13
A.Current year taxable value of properties under protest. The chief appraiser certifies a list of properties still
under ARB protest. The list shows the appraisal district’s value and the taxpayer’s claimed value, if any,
or an estimate of the value if the taxpayer wins. For each of the properties under protest, use the lowest
of these values. Enter the total value under protest. 14.................................................... $ _____________
B.Current year value of properties not under protest or included on certified appraisal roll. The chief
appraiser gives taxing units a list of those taxable properties that the chief appraiser knows about but
are not included in the appraisal roll certification. These properties also are not on the list of properties
that are still under protest. On this list of properties, the chief appraiser includes the market value,
appraised value and exemptions for the preceding year and a reasonable estimate of the market value,
appraised value and exemptions for the current year. Use the lower market, appraised or taxable value
(as appropriate). Enter the total value of property not on the certified roll. 15 .............................. + $ _____________
C. Total value under protest or not certified. Add A and B.$ _____________
20.Current year tax ceilings. Counties, cities and junior colleges enter current year total taxable value of homesteads with tax ceilings. These
include the homesteads of homeowners age 65 or older or disabled. Other taxing units enter 0. If your taxing unit adopted the tax ceiling provi-
sion in the prior year or a previous year for homeowners age 65 or older or disabled, use this step.16 $ _____________
21.Current year total taxable value. Add Lines 18E and 19C. Subtract Line 20. 17 $ _____________
22.Total current year taxable value of properties in territory annexed after Jan. 1, of the prior year. Include both real and personal property.
Enter the current year value of property in territory annexed. 18 $ _____________
23.Total current year taxable value of new improvements and new personal property located in new improvements. New means the
item was not on the appraisal roll in the prior year. An improvement is a building, structure, fixture or fence erected on or affixed to land. New
additions to existing improvements may be included if the appraised value can be determined. New personal property in a new improvement
must have been brought into the taxing unit after Jan. 1, of the prior year and be located in a new improvement. New improvements do include
property on which a tax abatement agreement has expired for the current year. 19 $ _____________
24.Total adjustments to the current year taxable value. Add Lines 22 and 23.$ _____________
25.Adjusted current year taxable value. Subtract Line 24 from Line 21.$ _____________
26.Current year NNR tax rate. Divide Line 17 by Line 25 and multiply by $100. 20 $ __________/$100
27.COUNTIES ONLY. Add together the NNR tax rates for each type of tax the county levies. The total is the current year county NNR tax rate. 21 $ __________/$100
SECTION 2: Voter-Approval Tax Rate
The voter-approval tax rate is the highest tax rate that a taxing unit may adopt without holding an election to seek voter approval of the rate. The voter-approval tax rate is split
into two separate rates:
1. Maintenance and Operations (M&O) Tax Rate: The M&O portion is the tax rate that is needed to raise the same amount of taxes that the taxing unit levied in the prior year
plus the applicable percentage allowed by law. This rate accounts for such things as salaries, utilities and day-to-day operations.
2. Debt Rate: The debt rate includes the debt service necessary to pay the taxing unit’s debt payments in the coming year. This rate accounts for principal and interest on bonds
and other debt secured by property tax revenue.
The voter-approval tax rate for a county is the sum of the voter-approval tax rates calculated for each type of tax the county levies. In most cases the voter-approval tax rate
exceeds the no-new-revenue tax rate, but occasionally decreases in a taxing unit’s debt service will cause the NNR tax rate to be higher than the voter-approval tax rate.
Line Voter-Approval Tax Rate Worksheet Amount/Rate
28.Prior year M&O tax rate. Enter the prior year M&O tax rate.$ __________/$100
29.Prior year taxable value, adjusted for actual and potential court-ordered adjustments. Enter the amount in Line 8 of the No-New-Revenue
Tax Rate Worksheet.$ _____________
256,534,035
0
256,534,035
854,677,199
9,365,511,347
0
870,449,826
870,449,826
8,495,061,521
0.466941
0.332742
8,276,133,304
44
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 4
Line Voter-Approval Tax Rate Worksheet Amount/Rate
30.Total prior year M&O levy. Multiply Line 28 by Line 29 and divide by $100.$ _____________
31.Adjusted prior year levy for calculating NNR M&O rate.
A. M&O taxes refunded for years preceding the prior tax year. Enter the amount of M&O taxes
refunded in the preceding year for taxes before that year. Types of refunds include court decisions,
Tax Code Section 25.25(b) and (c) corrections and Tax Code Section 31.11 payment errors. Do not
include refunds for tax year 2023. This line applies only to tax years preceding the prior tax year............ + $ _____________
B. Prior year taxes in TIF. Enter the amount of taxes paid into the tax increment fund for a reinvestment
zone as agreed by the taxing unit. If the taxing unit has no current year captured appraised value in
Line 18D, enter 0....................................................................................... – $ _____________
C. Prior year transferred function. If discontinuing all of a department, function or activity and
transferring it to another taxing unit by written contract, enter the amount spent by the taxing
unit discontinuing the function in the 12 months preceding the month of this calculation. If the
taxing unit did not operate this function for this 12-month period, use the amount spent in the last
full fiscal year in which the taxing unit operated the function. The taxing unit discontinuing the function
will subtract this amount in D below. The taxing unit receiving the function will add this amount in
D below. Other taxing units enter 0. .................................................................... +/- $ _____________
D. Prior year M&O levy adjustments. Subtract B from A. For taxing unit with C, subtract if
discontinuing function and add if receiving function..................................................... $ _____________
E. Add Line 30 to 31D.$ _____________
32.Adjusted current year taxable value. Enter the amount in Line 25 of the No-New-Revenue Tax Rate Worksheet.$ _____________
33.Current year NNR M&O rate (unadjusted). Divide Line 31E by Line 32 and multiply by $100.$ __________/$100
34.Rate adjustment for state criminal justice mandate. 23
A. Current year state criminal justice mandate. Enter the amount spent by a county in the previous 12 months
providing for the maintenance and operation cost of keeping inmates in county-paid facilities after they
have been sentenced. Do not include any state reimbursement received by the county for the same purpose. $ _____________
B. Prior year state criminal justice mandate. Enter the amount spent by a county in the 12 months prior to
the previous 12 months providing for the maintenance and operation cost of keeping inmates in
county-paid facilities after they have been sentenced. Do not include any state reimbursement received
by the county for the same purpose. Enter zero if this is the first time the mandate applies................. – $ _____________
C. Subtract B from A and divide by Line 32 and multiply by $100............................................ $ __________/$100
D. Enter the rate calculated in C. If not applicable, enter 0.$ __________/$100
35.Rate adjustment for indigent health care expenditures. 24
A. Current year indigent health care expenditures. Enter the amount paid by a taxing unit providing for the
maintenance and operation cost of providing indigent health care for the period beginning on
July 1, of the prior tax year and ending on June 30, of the current tax year, less any state assistance received
for the same purpose................................................................................... $ _____________
B. Prior year indigent health care expenditures. Enter the amount paid by a taxing unit providing for
the maintenance and operation cost of providing indigent health care for the period beginning
on July 1, 2022 and ending on June 30, 2023, less any state assistance received
for the same purpose................................................................................... – $ _____________
C. Subtract B from A and divide by Line 32 and multiply by $100............................................ $ __________/$100
D. Enter the rate calculated in C. If not applicable, enter 0.$ __________/$100
22 [Reserved for expansion]
23 Tex. Tax Code §26.044
24 Tex. Tax Code §26.0441
27,538,171
200,220
1,095,231
0
-895,011
26,643,160
8,495,061,521
0.313631
0
0
0.000000
0.000000
0
0
0.000000
0.000000
45
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 5
Line Voter-Approval Tax Rate Worksheet Amount/Rate
36.Rate adjustment for county indigent defense compensation. 25
A.Current year indigent defense compensation expenditures. Enter the amount paid by a county to provide
appointed counsel for indigent individuals and fund the operations of a public defender’s office under
Article 26.044, Code of Criminal Procedure for the period beginning on July 1, of the prior tax year and ending on
June 30,of the current tax year, less any state grants received by the county for the same purpose.......... $ _____________
B.Prior year indigent defense compensation expenditures. Enter the amount paid by a county to provide
appointed counsel for indigent individuals and fund the operations of a public defender’s office under
Article 26.044, Code of Criminal Procedure for the period beginning on July 1, 2022 and ending on
June 30, 2023, less any state grants received by the county for the same purpose.......................... $ _____________
C. Subtract B from A and divide by Line 32 and multiply by $100............................................ $ __________/$100
D.Multiply B by 0.05 and divide by Line 32 and multiply by $100............................................ $ __________/$100
E. Enter the lesser of C and D. If not applicable, enter 0.$ __________/$100
37.Rate adjustment for county hospital expenditures. 26
A.Current year eligible county hospital expenditures. Enter the amount paid by the county or municipality
to maintain and operate an eligible county hospital for the period beginning on July 1, of the prior tax year and
ending on June 30, of the current tax year............................................................... $ _____________
B.Prior year eligible county hospital expenditures. Enter the amount paid by the county or municipality
to maintain and operate an eligible county hospital for the period beginning on July 1, 2022 and
ending on June 30, 2023. .............................................................................. $ _____________
C. Subtract B from A and divide by Line 32 and multiply by $100............................................ $ __________/$100
D.Multiply B by 0.08 and divide by Line 32 and multiply by $100............................................ $ __________/$100
E. Enter the lesser of C and D, if applicable. If not applicable, enter 0.$ __________/$100
38.Rate adjustment for defunding municipality. This adjustment only applies to a municipality that is considered to be a defunding municipal-
ity for the current tax year under Chapter 109, Local Government Code. Chapter 109, Local Government Code only applies to municipalities with
a population of more than 250,000 and includes a written determination by the Office of the Governor. See Tax Code Section 26.0444 for more
information.
A.Amount appropriated for public safety in the prior year. Enter the amount of money appropriated for
public safety in the budget adopted by the municipality for the preceding fiscal year...................... $ _____________
B.Expenditures for public safety in the prior year. Enter the amount of money spent by the municipality
for public safety during the preceding fiscal year ........................................................ $ _____________
C. Subtract B from A and divide by Line 32 and multiply by $100 ........................................... $ __________/$100
D.Enter the rate calculated in C. If not applicable, enter 0.$ __________/$100
39.Adjusted current year NNR M&O rate. Add Lines 33, 34D, 35D, 36E, and 37E. Subtract Line 38D.$ __________/$100
40.Adjustment for prior year sales tax specifically to reduce property taxes. Cities, counties and hospital districts that collected and spent
additional sales tax on M&O expenses in the prior year should complete this line. These entities will deduct the sales tax gain rate for the current
year in Section 3. Other taxing units, enter zero.
A.Enter the amount of additional sales tax collected and spent on M&O expenses in the prior year, if any.
Counties must exclude any amount that was spent for economic development grants from the amount
of sales tax spent ...................................................................................... $ _____________
B.Divide Line 40A by Line 32 and multiply by $100 ........................................................ $ __________/$100
C. Add Line 40B to Line 39.$ __________/$100
41.Current year voter-approval M&O rate. Enter the rate as calculated by the appropriate scenario below.
Special Taxing Unit. If the taxing unit qualifies as a special taxing unit, multiply Line 40C by 1.08.
- or -
Other Taxing Unit. If the taxing unit does not qualify as a special taxing unit, multiply Line 40C by 1.035.$ __________/$100
25 Tex. Tax Code §26.0442
26 Tex. Tax Code §26.0443
0
0
0.000000
0.000000
0.000000
0
0
0.000000
0.000000
0.000000
0
0
0.000000
0.000000
0.313631
0
0.000000
0.313631
0.324608
46
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 6
Line Voter-Approval Tax Rate Worksheet Amount/Rate
D41.Disaster Line 41 (D41): Current year voter-approval M&O rate for taxing unit affected by disaster declaration. If the taxing unit is
located in an area declared a disaster area and at least one person is granted an exemption under Tax Code Section 11.35 for property located
in the taxing unit, the governing body may direct the person calculating the voter-approval tax rate to calculate in the manner provided for a
special taxing unit. The taxing unit shall continue to calculate the voter-approval tax rate in this manner until the earlier of:
1) the first year in which total taxable value on the certified appraisal roll exceeds the total taxable value of
the tax year in which the disaster occurred; or
2) the third tax year after the tax year in which the disaster occurred.
If the taxing unit qualifies under this scenario, multiply Line 40C by 1.08. 27 If the taxing unit does not qualify, do not complete
Disaster Line 41 (Line D41).$ __________/$100
42.Total current year debt to be paid with property taxes and additional sales tax revenue. Debt means the interest and principal that will
be paid on debts that:
(1)are paid by property taxes;
(2)are secured by property taxes;
(3)are scheduled for payment over a period longer than one year; and
(4)are not classified in the taxing unit’s budget as M&O expenses.
A.Debt also includes contractual payments to other taxing units that have incurred debts on behalf of this taxing unit, if those debts
meet the four conditions above. Include only amounts that will be paid from property tax revenue. Do not include appraisal district
budget payments. If the governing body of a taxing unit authorized or agreed to authorize a bond, warrant, certificate of obligation, or
other evidence of indebtedness on or after Sept. 1, 2021, verify if it meets the amended definition of debt before including it here. 28
Enter debt amount .................................................................................... $ _____________
B.Subtract unencumbered fund amount used to reduce total debt. ...................................... – $ _____________
C. Subtract certified amount spent from sales tax to reduce debt (enter zero if none) .................... – $ _____________
D.Subtract amount paid from other resources ............................................................ – $ _____________
E. Adjusted debt. Subtract B, C and D from A.$ _____________
43.Certified prior year excess debt collections. Enter the amount certified by the collector. 29 $ _____________
44.Adjusted current year debt. Subtract Line 43 from Line 42E.$ _____________
45.Current year anticipated collection rate.
A.Enter the current year anticipated collection rate certified by the collector. 30.............................. ____________%
B.Enter the prior year actual collection rate................................................................ ____________%
C. Enter the 2022 actual collection rate. ................................................................... ____________%
D.Enter the 2021 actual collection rate. ................................................................... ____________%
E. If the anticipated collection rate in A is lower than actual collection rates in B, C and D, enter the lowest
collection rate from B, C and D. If the anticipated rate in A is higher than at least one of the rates in the
prior three years, enter the rate from A. Note that the rate can be greater than 100%. 31 ____________%
46.Current year debt adjusted for collections. Divide Line 44 by Line 45E.$ _____________
47.Current year total taxable value. Enter the amount on Line 21 of the No-New-Revenue Tax Rate Worksheet.$ _____________
48.Current year debt rate. Divide Line 46 by Line 47 and multiply by $100.$ __________/$100
49.Current year voter-approval M&O rate plus current year debt rate. Add Lines 41 and 48.$ __________/$100
D49.Disaster Line 49 (D49): Current year voter-approval tax rate for taxing unit affected by disaster declaration. Complete this line if the
taxing unit calculated the voter-approval tax rate in the manner provided for a special taxing unit on Line D41.
Add Line D41 and 48.$ __________/$100
27 Tex. Tax Code §26.042(a)
28 Tex. Tax Code §26.012(7)
29 Tex. Tax Code §26.012(10) and 26.04(b)
30 Tex. Tax Code §26.04(b)
31 Tex. Tax Code §§26.04(h), (h-1) and (h-2)
0.000000
18,227,636
0
0
100,100
18,127,536
1,001,385
17,126,151
100.00
103.70
103.75
101.37
101.37
16,894,693
9,365,511,347
0.180392
0.505000
0.000000
47
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 7
32 Tex. Tax Code §26.041(d)
33 Tex. Tax Code §26.041(i)
34 Tex. Tax Code §26.041(d)
35 Tex. Tax Code §26.04(c)
36 Tex. Tax Code §26.04(c)
37 Tex. Tax Code §26.045(d)
38 Tex. Tax Code §26.045(i)
Line Voter-Approval Tax Rate Worksheet Amount/Rate
50.COUNTIES ONLY. Add together the voter-approval tax rates for each type of tax the county levies. The total is the current year county voter-approv-
al tax rate.$ __________/$100
SECTION 3: NNR Tax Rate and Voter-Approval Tax Rate Adjustments for Additional Sales Tax to Reduce Property Taxes
Cities, counties and hospital districts may levy a sales tax specifically to reduce property taxes. Local voters by election must approve imposing or abolishing the additional sales
tax. If approved, the taxing unit must reduce its NNR and voter-approval tax rates to offset the expected sales tax revenue.
This section should only be completed by a county, city or hospital district that is required to adjust its NNR tax rate and/or voter-approval tax rate because it adopted the
additional sales tax.
Line Additional Sales and Use Tax Worksheet Amount/Rate
51.Taxable Sales. For taxing units that adopted the sales tax in November of the prior tax year or May of the current tax year, enter the
Comptroller’s estimate of taxable sales for the previous four quarters. 32 Estimates of taxable sales may be obtained through the Comptroller’s
Allocation Historical Summary webpage.
Taxing units that adopted the sales tax before November of the prior year, enter 0.$ _____________
52.Estimated sales tax revenue. Counties exclude any amount that is or will be spent for economic development grants from the amount of esti-
mated sales tax revenue. 33
Taxing units that adopted the sales tax in November of the prior tax year or in May of the current tax year. Multiply the amount on
Line 51 by the sales tax rate (.01, .005 or .0025, as applicable) and multiply the result by .95. 34
- or -
Taxing units that adopted the sales tax before November of the prior year. Enter the sales tax revenue for the previous four quarters.
Do not multiply by .95.$ _____________
53.Current year total taxable value. Enter the amount from Line 21 of the No-New-Revenue Tax Rate Worksheet.$ _____________
54.Sales tax adjustment rate. Divide Line 52 by Line 53 and multiply by $100.$ __________/$100
55.Current year NNR tax rate, unadjusted for sales tax.35 Enter the rate from Line 26 or 27, as applicable, on the No-New-Revenue Tax Rate
Worksheet.$ __________/$100
56.Current year NNR tax rate, adjusted for sales tax.
Taxing units that adopted the sales tax in November the prior tax year or in May of the current tax year. Subtract Line 54 from Line
55. Skip to Line 57 if you adopted the additional sales tax before November of the prior tax year.$ __________/$100
57.Current year voter-approval tax rate, unadjusted for sales tax.36 Enter the rate from Line 49, Line D49 (disaster) or Line 50 (counties) as
applicable, of the Voter-Approval Tax Rate Worksheet.$ __________/$100
58.Current year voter-approval tax rate, adjusted for sales tax. Subtract Line 54 from Line 57.$ __________/$100
SECTION 4: Voter-Approval Tax Rate Adjustment for Pollution Control
A taxing unit may raise its rate for M&O funds used to pay for a facility, device or method for the control of air, water or land pollution. This includes any land, structure, building,
installation, excavation, machinery, equipment or device that is used, constructed, acquired or installed wholly or partly to meet or exceed pollution control requirements. The
taxing unit’s expenses are those necessary to meet the requirements of a permit issued by the Texas Commission on Environmental Quality (TCEQ). The taxing unit must provide
the tax assessor with a copy of the TCEQ letter of determination that states the portion of the cost of the installation for pollution control.
This section should only be completed by a taxing unit that uses M&O funds to pay for a facility, device or method for the control of air, water or land pollution.
Line Voter-Approval Rate Adjustment for Pollution Control Requirements Worksheet Amount/Rate
59.Certified expenses from the Texas Commission on Environmental Quality (TCEQ). Enter the amount certified in the determination letter
from TCEQ. 37 The taxing unit shall provide its tax assessor-collector with a copy of the letter. 38 $ _____________
60.Current year total taxable value. Enter the amount from Line 21 of the No-New-Revenue Tax Rate Worksheet.$ _____________
61.Additional rate for pollution control. Divide Line 59 by Line 60 and multiply by $100.$ __________/$100
0.000000
0
0
9,365,511,347
0.000000
0.466941
0.466941
0.505000
0.505000
0
9,365,511,347
0.000000
48
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 8
Line Voter-Approval Rate Adjustment for Pollution Control Requirements Worksheet Amount/Rate
62.Current year voter-approval tax rate, adjusted for pollution control. Add Line 61 to one of the following lines (as applicable): Line 49, Line
D49 (disaster), Line 50 (counties) or Line 58 (taxing units with the additional sales tax).$ __________/$100
SECTION 5: Voter-Approval Tax Rate Adjustment for Unused Increment Rate
The unused increment rate is the rate equal to the sum of the prior 3 years Foregone Revenue Amounts divided by the current taxable value. 39 The Foregone Revenue Amount for each
year is equal to that year’s adopted tax rate subtracted from that year’s voter-approval tax rate adjusted to remove the unused increment rate multiplied by that year’s current total
value. 40
The difference between the adopted tax rate and adjusted voter-approval tax rate is considered zero in the following scenarios:
• a tax year in which a taxing unit affected by a disaster declaration calculates the tax rate under Tax Code Section 26.042; 41
• a tax year in which the municipality is a defunding municipality, as defined by Tax Code Section 26.0501(a); 42 or
• after Jan. 1, 2022, a tax year in which the comptroller determines that the county implemented a budget reduction or reallocation described by Local Government Code
Section 120.002(a) without the required voter approval. 43
This section should only be completed by a taxing unit that does not meet the definition of a special taxing unit. 44
Line Unused Increment Rate Worksheet Amount/Rate
63.Year 3 Foregone Revenue Amount. Subtract the 2023 unused increment rate and 2023 actual tax rate from the 2023 voter-approval
tax rate. Multiply the result by the 2023 current total value
A. Voter-approval tax rate (Line 67).....................................................................................................
B. Unused increment rate (Line 66).....................................................................................................
C. Subtract B from A ...................................................................................................................
D. Adopted Tax Rate ...................................................................................................................
E. Subtract D from C ...................................................................................................................
F. 2023 Total Taxable Value (Line 60)....................................................................................................
G. Multiply E by F and divide the results by $100. If the number is less than zero, enter zero................................................
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ _____________
$ _____________
64.Year 2 Foregone Revenue Amount. Subtract the 2022 unused increment rate and 2022 actual tax rate from the 2022 voter-approval
tax rate. Multiply the result by the 2022 current total value
A. Voter-approval tax rate (Line 67).....................................................................................................
B. Unused increment rate (Line 66).....................................................................................................
C. Subtract B from A ...................................................................................................................
D. Adopted Tax Rate ...................................................................................................................
E. Subtract D from C ...................................................................................................................
F. 2022 Total Taxable Value (Line 60)....................................................................................................
G. Multiply E by F and divide the results by $100. If the number is less than zero, enter zero................................................
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ _____________
$ _____________
65.Year 1 Foregone Revenue Amount. Subtract the 2021 unused increment rate and 2021 actual tax rate from the 2021 voter-approval
tax rate. Multiply the result by the 2021 current total value
A. Voter-approval tax rate (Line 67).....................................................................................................
B. Unused increment rate (Line 66).....................................................................................................
C. Subtract B from A ...................................................................................................................
D. Adopted Tax Rate ...................................................................................................................
E. Subtract D from C ...................................................................................................................
F. 2021 Total Taxable Value (Line 60)....................................................................................................
G. Multiply E by F and divide the results by $100. If the number is less than zero, enter zero................................................
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ __________/$100
$ _____________
$ _____________
66.Total Foregone Revenue Amount. Add Lines 63G, 64G and 65G $ __________/$100
67.2024 Unused Increment Rate. Divide Line 66 by Line 21 of the No-New-Revenue Rate Worksheet. Multiply the result by 100 $ __________/$100
68.Total 2024 voter-approval tax rate, including the unused increment rate. Add Line 67 to one of the following lines (as applicable): Line 49,
Line 50 (counties), Line 58 (taxing units with additional sales tax) or Line 62 (taxing units with pollution)$ __________/$100
39 Tex. Tax Code §26.013(b)
40 Tex. Tax Code §26.013(a)(1-a), (1-b), and (2)
41 Tex. Tax Code §§26.04(c)(2)(A) and 26.042(a)
42 Tex. Tax Code §§26.0501(a) and (c)
43 Tex. Local Gov’t Code §120.007(d)
44 Tex. Local Gov’t Code §120.007(d)
0.505000
0.510000
0.017336
0.492664
0.510000
-0.017336
8,140,263,860
0
0.527336
0.043161
0.484175
0.510000
-0.025825
6,621,990,520
0
0.539436
0.000000
0.539436
0.510000
0.029436
5,432,723,516
1,599,176
1,599,176
0.017075
0.522075
49
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 9
SECTION 6: De Minimis Rate
The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate, the rate that will raise $500,000, and the current debt rate for a taxing unit. 44
This section should only be completed by a taxing unit that is a municipality of less than 30,000 or a taxing unit that does not meet the definition of a special taxing unit. 45
Line De Minimis Rate Worksheet Amount/Rate
69.Adjusted current year NNR M&O tax rate. Enter the rate from Line 39 of the Voter-Approval Tax Rate Worksheet.$ __________/$100
70.Current year total taxable value. Enter the amount on Line 21 of the No-New-Revenue Tax Rate Worksheet.$ _____________
71.Rate necessary to impose $500,000 in taxes. Divide $500,000 by Line 70 and multiply by $100.$ __________/$100
72.Current year debt rate. Enter the rate from Line 48 of the Voter-Approval Tax Rate Worksheet.$ __________/$100
73.De minimis rate. Add Lines 69, 71 and 72.$ __________/$100
SECTION 7: Voter-Approval Tax Rate Adjustment for Emergency Revenue Rate
In the tax year after the end of the disaster calculation time period detailed in Tax Code Section 26.042(a), a taxing unit that calculated its voter-approval tax rate in the manner
provided for a special taxing unit due to a disaster must calculate its emergency revenue rate and reduce its voter-approval tax rate for that year.48
Similarly, if a taxing unit adopted a tax rate that exceeded its voter-approval tax rate, calculated normally, without holding an election to respond to a disaster, as allowed by Tax
Code Section 26.042(d), in the prior year, it must also reduce its voter-approval tax rate for the current tax year. 49
This section will apply to a taxing unit other than a special taxing unit that:
• directed the designated officer or employee to calculate the voter-approval tax rate of the taxing unit in the manner provided for a special taxing unit in the prior year; and
• the current year is the first tax year in which the total taxable value of property taxable by the taxing unit as shown on the appraisal roll for the taxing unit submitted by the
assessor for the taxing unit to the governing body exceeds the total taxable value of property taxable by the taxing unit on January 1 of the tax year in which the disaster
occurred or the disaster occurred four years ago.This section will apply to a taxing unit in a disaster area that adopted a tax rate greater than its voter-approval tax rate
without holding an election in the prior year.
Note: This section does not apply if a taxing unit is continuing to calculate its voter-approval tax rate in the manner provided for a special taxing unit because it is still within the
disaster calculation time period detailed in Tax Code Section 26.042(a) because it has not met the conditions in Tax Code Section 26.042(a)(1) or (2).
Line Emergency Revenue Rate Worksheet Amount/Rate
74.2023 adopted tax rate. Enter the rate in Line 4 of the No-New-Revenue Tax Rate Worksheet.$ __________/$100
75.Adjusted 2023 voter-approval tax rate. Use the taxing unit’s Tax Rate Calculation Worksheets from the prior year(s) to complete this line.
If a disaster occurred in 2023 and the taxing unit calculated its 2023 voter-approval tax rate using a multiplier of 1.08 on Disaster Line 41 (D41)
of the 2023 worksheet due to a disaster, complete the applicable sections or lines of Form 50-856-a, Adjusted Voter-Approval Tax Rate for Taxing
Units in Disaster Area Calculation Worksheet.
- or -
If a disaster occurred prior to 2023 for which the taxing unit continued to calculate its voter-approval tax rate using a multiplier of 1.08 on
Disaster Line 41 (D41) in 2023, complete form 50-856-a, Adjusted Voter-Approval Tax Rate for Taxing Units in Disaster Area Calculation Worksheet to
recalculate the voter-approval tax rate the taxing unit would have calculated in 2023 if it had generated revenue based on an adopted tax rate
using a multiplier of 1.035 in the years following the disaster. 50 Enter the final adjusted 2023 voter-approval tax rate from the worksheet.
- or -
If the taxing unit adopted a tax rate above the 2023 voter-approval tax rate without calculating a disaster tax rate or holding an election due to
a disaster, no recalculation is necessary. Enter the voter-approval tax rate from the prior year’s worksheet.$ __________/$100
76.Increase in 2023 tax rate due to disaster. Subtract Line 75 from Line 74.$ __________/$100
77.Adjusted 2023 taxable value. Enter the amount in Line 14 of the No-New-Revenue Tax Rate Worksheet.$ _____________
78.Emergency revenue. Multiply Line 76 by Line 77 and divide by $100.$ _____________
79.Adjusted 2023 taxable value. Enter the amount in Line 25 of the No-New-Revenue Tax Rate Worksheet.$ _____________
80.Emergency revenue rate. Divide Line 78 by Line 79 and multiply by $100. 51 $ __________/$100
45 Tex. Tax Code §26.04(c)(2)(B)
46 Tex. Tax Code §26.012(8-a)
47 Tex. Tax Code §26.063(a)(1)
48 Tex. Tax Code §26.042(b)
49 Tex. Tax Code §26.042(f)
50 Tex. Tax Code §26.042(c)
51 Tex. Tax Code §26.042(b)
0.313631
9,365,511,347
0.005338
0.180392
0.000000
0.510000
0.000000
0.000000
0.000000
50
2024 Tax Rate Calculation Worksheet – Taxing Units Other Than School Districts or Water Districts Form 50-856
For additional copies, visit: comptroller.texas.gov/taxes/property-tax Page 10
Line Emergency Revenue Rate Worksheet Amount/Rate
81.Current year voter-approval tax rate, adjusted for emergency revenue. Subtract Line 80 from one of the following lines (as applicable):
Line 49, Line D49 (disaster), Line 50 (counties), Line 58 (taxing units with the additional sales tax), Line 62 (taxing units with pollution control) or
Line 68 (taxing units with the unused increment rate).$ __________/$100
SECTION 8: Total Tax Rate
Indicate the applicable total tax rates as calculated above.
No-new-revenue tax rate. ................................................................................................................ $ __________/$100
As applicable, enter the current year NNR tax rate from: Line 26, Line 27 (counties), or Line 56 (adjusted for sales tax).
Indicate the line number used: ______
Voter-approval tax rate ................................................................................................................... $ __________/$100
As applicable, enter the current year voter-approval tax rate from: Line 49, Line D49 (disaster), Line 50 (counties), Line 58 (adjusted for sales tax),
Line 62 (adjusted for pollution control), Line 68 (adjusted for unused increment), or Line 81 (adjusted for emergency revenue).
Indicate the line number used: ______
De minimis rate........................................................................................................................... $ __________/$100
If applicable, enter the current year de minimis rate from Line 73.
SECTION 9: Taxing Unit Representative Name and Signature
Enter the name of the person preparing the tax rate as authorized by the governing body of the taxing unit. By signing below, you certify that you are the designated officer or
employee of the taxing unit and have accurately calculated the tax rates using values that are the same as the values shown in the taxing unit’s certified appraisal roll or certified
estimate of taxable value, in accordance with requirements in the Tax Code. 52
____________________________________________________________
Printed Name of Taxing Unit Representative
____________________________________________________________ ________________________________________
Taxing Unit Representative Date
52 Tex. Tax Code §§26.04(c-2) and (d-2)
0.522075
0.466941
26
0.522075
68
0.000000
Jayna Dean
8/05/2024
51
Accounting System: The total structure of records and procedures which discover, record, classify, and report
information on the financial position and operations of a governmental unit or any of its funds, balanced
account groups, and organizational components. Sometimes referred to as Chart of Accounts and/or Account
Classification System.
Accounts Receivable: Amounts owing on open account from private persons, firms, or corporations for goods
and services furnished by a governmental unit (but not including amounts due from other funds of the same
governmental unit).
Accrual Basis: The basis of accounting under which revenues are recorded when earned and expenditures are
recorded as soon as they result in liabilities for benefits received, notwithstanding that the receipt of the
revenue or the payment of the expenditure may take place, in whole or in part, in another accounting period.
See also Accrue and Levy.
Accrue: To record revenues when earned and to record expenditures as soon as they result in liabilities for
benefits received, notwithstanding that the receipt of the revenue or payment of the expenditure may take
place, in whole or in part, in another accounting period. See also Accrual Basis, Accrued Expenses, and
Accrued Revenue.
Accrued Expenses: Expenses incurred during the current account period but which are not payable until a
subsequent accounting period. See also Accrual Basis and Accrue.
Accrued Interest on Investments Purchased: Interest accrued on investments between the last interest
payment date and the date of purchase. The account is carried as an asset until the first interest payment date
after date of purchase. At that time an entry is made debiting cash and crediting the Accrued Interest on
Investments Purchased account for the amount of interest purchased and an Interest Earnings account for the
balance.
Accrued Interest Payable: A liability account which represents the amount of interest accrued at the balance
sheet date but which is not due until a later date.
Accrued Revenue: Revenue earned during the current accounting period but which is not collected until a
subsequent accounting period. See also Accrual Basis and Accrue.
Activity: A specific and distinguishable line of work performed by one or more organizational components of a
governmental unit for the purpose of accomplishing a function for which the governmental unit is responsible.
For example, "Code Enforcement" is an activity performed in the discharge of the "Public Safety" function. See
also Function.
Activity Classification: A grouping of expenditures on the basis of specific lines of work performed by
organization units.
Ad Valorem: In proportion to value. A basis for levy of taxes upon property.
Allocate: To divide a lump‐sum appropriation into parts which are designated for expenditure by specific
organization units and/or for specific purposes, activities, or objects. See also Allocation.
Allocation: A part of a lump‐sum appropriation which is designated for expenditure by specific organization
units and/or for special purposes, activities, or objects. See also Allocate.
Glossary
52
Glossary
Allot: To divide an appropriation into amounts which may be encumbered or expended during an allotment
period. See also Allotment and Allotment Period.
Allotment: A part of an appropriation which may be encumbered or expended during an allotment period.
See also Allot and Allotment Period.
Allotment Period: A period of time less than one fiscal year in length during which an allotment is effective.
Bimonthly and quarterly allotment periods are most common. See also Allot and Allotment.
Appraisal: (1) The act of appraising. See Appraise. (2) The estimated value resulting from such action.
Appraise: To make an estimate of value, particularly of the value of property.
Note: If the property is valued for purposes of taxation, the less inclusive term "assess" is substituted for the
above term.
Appropriation: An authorization granted by a legislative body to make expenditures and to incur obligations
for specific purposes. An appropriation is limited in amount to the time it may be expended.
Arbitrage: The reinvestment of the proceeds of tax‐exempt securities in materially higher‐yielding taxable
securities.
Assess: To value property officially for the purpose of taxation.
Note: The term is also sometimes used to denote the levy of taxes, but such usage is not correct because it
fails to distinguish between the valuation process and the tax levy process.
Assessed Valuation: A valuation set upon real estate or other property by a government as a basis for levying
taxes.
Assessment: (1) The process of making the official valuation of property for purposes of taxation. (2) The
valuation placed upon property as a result of this process.
Assessment Roll: In the case of real property, the official list containing the legal description of each parcel of
property and its assessed valuation. The name and address of the last known owner are also usually shown.
In the case of personal property, the assessment roll is the official list containing the name and address of the
owner, a description of the personal property, and its assessed value.
Assets: Property owned by a governmental unit, which has a monetary value.
Audit: The examination of documents, records, reports, systems of internal control, accounting and financial
procedures, and other evidence for one or more of the following purposes:
(a) To ascertain whether the statements prepared from the accounts present fairly the financial posiƟon
and the results of financial operations of the constituent funds and balanced account groups of the
governmental unit in accordance with generally accepted accounting principals applicable to governmental
units and on a basis consistent with that of the preceding year.
(b) To determine the propriety, legality, and mathemaƟcal accuracy of a governmental unit's financial
transactions.
(c) To ascertain the stewardship of public officials who handle and are responsible for the financial
resources of a governmental unit.
Audit Report: The report prepared by an auditor covering the audit or investigation made by him or her. As a
rule, the report should include:
53
Glossary
(a) a statement of the scope of the audit;
(b) explanatory comments (if any) concerning excepƟons by the auditor as to applicaƟon of generally
accepted auditing standards;
(c) opinions;
(d) explanatory comments (if any) concerning verificaƟon procedures;
(e) financial statements and schedules; and
(f) someƟmes staƟsƟcal tables, supplementary comments, and recommendaƟons. The auditor's
signature follows item (c) or (d).
Balanced Budget: Annual financial plan in which expenses do not exceed revenues.
Balance Sheet: A statement which discloses the assets, liabilities, reserves, and equities of a fund or
governmental unit at a specified date, properly classified to exhibit financial position of the fund or unit at that
date.
Note: If a single balance sheet is prepared for several funds, it must be in columnar or sectional form so as to
exhibit the accounts of each fund and balanced account group, individually.
Bond: A written promise, generally under seal, to pay a specified sum of money, called the face value or
principal amount, at a fixed time in the future, called the date of maturity, and carrying interest at a fixed rate,
usually payable periodically.
Note: The difference between a note and a bond is that the latter usually runs for a longer period of time and
requires greater legal formality.
Bond Fund: A fund formerly used to account for the proceeds of general obligation bond issues. Such
proceeds are now accounted for in a Capital Projects Fund.
Bond Ordinance or Resolution: An ordinance or resolution authorizing a bond issue.
Bonded Debt: The portion of indebtedness represented by outstanding bonds.
Bonds Authorized and Un‐issued: Bonds which have been legally authorized but not issued and which can be
issued and sold without further authorization.
Note: This term should not be confused with the term "margin of borrowing power" or "legal debt margin,"
either one of which represents the difference between the legal debt limit of a governmental unit and the debt
outstanding against it.
Bonds Issued: Bonds sold.
Budget: A plan of financial operation embodying an estimate of proposed expenditures for a given period and
the proposed means of financing them. Used without any modifier, the term usually indicates a financial plan
for a single fiscal year.
Note: The term "budget" is used in two senses in practice. Sometimes it designates the financial plan
presented to the appropriating body for adoption and sometimes the plan finally approved by that body. It is
usually necessary to specify whether the budget under consideration is preliminary and tentative or whether it
has been approved by the appropriating body. See also Current Budget, Capital Budget, and Capital Program.
54
Glossary
Budget Document: The instrument used by the budget‐making authority to present a comprehensive financial
program to the appropriating body. The budget document usually consists of three parts. The first part
contains a message from the budget‐making authority, together with a summary of the proposed expenditures
and the means of financing them. The second part consists of schedules supporting the summary. These
schedules show in detail the information as to past years' actual revenues, expenditures, and other data used
in making the estimates. The third part is composed of drafts of the appropriation, revenue, and borrowing
measures necessary to put the budget into effect.
Budget Message: A general discussion of the proposed budget as presented in writing by the budget‐making
authority to the legislative body. The budget message should contain an explanation of the principal budget
items, an outline of the governmental unit's experience during the past period and its financial status at the
time of the message, and recommendations regarding the financial policy for the coming period.
Budgetary Accounts: Those accounts which reflect budgetary operations and condition, such as estimated
revenues, appropriations, and encumbrances, as distinguished from proprietary accounts. See also
Proprietary Accounts.
Budgetary Control: The control or management of a governmental unit or enterprise in accordance with an
approved budget for the purpose of keeping expenditures within the limitation of available appropriations and
available revenues.
Capital Budget: A plan of proposed capital outlays and the means of financing them for the current fiscal
period. It is usually a part of the current budget. If a Capital Program is in operation, it will be the first year
thereof. A Capital Program is sometimes referred to as a Capital Budget. See also Capital Program.
Capital Expenditures: See Capital Outlays.
Capital Improvement Program: See Capital Program.
Capital Outlays: Expenditures in excess of $5,000 which result in the acquisition of or addition to fixed assets.
Capital Program: A plan for capital expenditures to be incurred each year over a fixed period of years to meet
capital needs arising from the long‐term work program, or otherwise. It sets forth each project or other
contemplated expenditure in which the government is to have a part and specifies the full resources estimated
to be available to finance the projected expenditures.
Capital Projects Fund: A fund created to account for financial resources to be used for the acquisition or
construction of major capital facilities and/or designated fixed assets (other than those financed by special
assessment, trust, special revenue, and enterprise funds). See also Bond Fund.
Cash: Currency, coin, checks, postal and express money orders, and bankers' drafts, on hand or on deposit
with an official or agent designated as custodian of cash and bank deposits.
Cash Basis: The basis of accounting under which revenues are recorded when received in cash and
expenditures are recorded when paid.
Chart of Accounts: The classification system used to organize the accounting for various funds.
Clearing Account: An account used to accumulate total charges or credits for the purpose of distributing them
later among the accounts to which they are allocated or for the purpose of transferring the net differences to
the proper account.
55
Glossary
Coding: A system of numbering or otherwise designating accounts, entries, invoices, vouchers, etc., in such a
manner that the symbol used quickly reveals certain required information. See also Symbolization.
Combination Bond: A bond issued by a governmental unit which is payable from the revenues of a
governmental enterprise, but which is also backed by the full faith and credit of the governmental unit.
Combined Balance Sheet: A single balance sheet which displays the individual balance sheets of each class of
funds and the balanced account groups of a governmental unit in separate, adjacent columns.
Note: There are no interfund elimination or consolidations in a combined balance sheet for a governmental
unit.
Contingent Fund: Assets or other resources set aside to provide for unforeseen expenditures or for anticipated
expenditures of uncertain amounts.
Note: The term should not be used to describe a reserve for contingencies. The latter is set aside out of the
fund balance of a fund but does not constitute a separate fund. Similarly, an appropriation is not a fund.
Coverage: See Net Revenue Available for Debt Service.
Current: A term which, when applied to budgeting and accounting, designates the operations of the present
fiscal period as opposed to past or future periods.
Current Budget: The annual budget prepared for and effective during the present fiscal year; or, in the case of
some state governments, the budget for the present biennium.
Current Funds: Funds the resources of which are expended for operating purposes during the current fiscal
period. In its usual application in plural form, it refers to General, Special Revenue, Debt Service, and
Enterprise Funds of a governmental unit. In the singular form, the current fund is synonymous with the
general fund. See also General Fund.
Current Liabilities: Liabilities which are payable within a relatively short period of time, usually no longer than
a year.
Current Revenue: Revenues of a governmental unit that are available to meet expenditures of the current
fiscal year. See Revenue.
Current Taxes: (1) Taxes levied and becoming due during the current fiscal period, from the time the amount
of the tax levy is first established to the date on which a penalty for nonpayment is attached. (2) Taxes levied
in the preceding fiscal period but becoming due in the current fiscal period, from the time they become due
until a penalty for nonpayment is attached.
Current Year's Tax Levy: Taxes levied for the current fiscal period.
Data Processing: (1) The preparation and handling of information and data from source media through
prescribed procedures to obtain such end results as classification, problem solution, summarization, and
reports. (2) Preparation and handling of financial information wholly or partially by mechanical or electronic
means. See also Electronic Data Processing (EDP).
Debt: An obligation resulting from the borrowing of money or from the purchase of goods and services. Debts
of governmental units include bonds, time warrants, notes, and floating debt. See also Bond, Notes Payable,
Long‐Term Debt, and General Long‐Term Debt.
56
Glossary
Debt Limit: The maximum amount of gross or net debt that is legally permitted.
Debt Service Fund: A fund established to finance and account for the payment of interest and principal on all
general obligation debt, serial and term, other than that payable exclusively from special assessments and
revenue debt issued for and serviced by a governmental enterprise. Formally called a Sinking Fund.
Debt Service Fund Requirements: The amounts of revenue which must be provided for a debt service fund so
that all principal and interest payments can be made in full on schedule.
Deficit: (1) The excess of the liabilities and reserves of a fund over its assets. (2) The excess of expenditures
over revenues during an accounting period; or, in the case of Enterprise and Intragovernmental Service Funds,
the excess of expense over income during an accounting period.
Delinquent Taxes: Taxes remaining unpaid on and after the date on which a penalty for nonpayment is
attached. Even though the penalty may be subsequently waived and a portion of the taxes may be abated or
canceled, the unpaid balances continue to be delinquent taxes until abated, canceled, paid, or converted into
tax liens.
Note: The term is sometimes limited to taxes levied for the fiscal period or periods preceding the current one,
but such usage is not entirely correct. See also Current Taxes, Current Year's Tax Levy, and Prior Years' Tax
Levies.
Deposit: (1) Money placed with a banking or other institution, or with a person either as a general deposit
subject to check or as a special deposit made for some specified purpose. (2) Securities lodged with a banking
or other institution or with a person for some particular purpose. (3) Sums deposited by customers for electric
meters, water meters, etc., and by contractors and others to accompany and guarantee their bids.
Depreciation: (1) Expiration of the service life of fixed assets, other than wasting assets, attributable to wear
and tear through use and lapse of time, obsolescence, inadequacy, or other physical elements for functional
causes. (2) The portion of the cost of a fixed asset charged as an expense during a particular period.
Note: The cost of a fixed asset is prorated over the estimated service life of such asset and each period is
charged with part of such cost so that ultimately the entire cost of the asset is charged off as an expense. In
governmental accounting, depreciation may be recorded in proprietary funds and trust funds where expenses,
net income, and/or capital maintenance are measured.
Direct Debt: The debt that a governmental unit has incurred in its own name, or assumed through the
annexation of territory or consolidation with another governmental unit. See also Overlapping Debt.
Direct Expense: Those expenses which can be charged directly as a part of the cost of a product or service, or
of a department or operating unit, as distinguished from overhead and other indirect costs which must be
prorated among several products or services, departments, or operating units.
Due to Fiscal Agent: Amounts due to fiscal agents, such as commercial banks, for servicing a governmental
unit's maturing interest and principal payments on indebtedness.
Effective Interest Rate: The rate of earning on a bond investment based on the actual price paid for the bond,
the coupon rate, the maturity date, and the length of time between interest dates, in contrast with the nominal
interest rate.
Electronic Data Processing (EDP): Data processing by means of high‐speed electronic equipment. See also
Data Processing.
57
Glossary
Encumbrances: Obligations in the form of purchase orders, contracts, or salary commitments which are
chargeable to an appropriation and for which a part of the appropriation is reserved. They cease to be
encumbrances when paid or when the actual liability is set up.
Enterprise Debt: Debt that is to be retired primarily from the earnings of publicly owned and operated
enterprises. See also Revenue Bonds.
Enterprise Fund: A fund established to finance and account for the acquisition, operation, and maintenance of
governmental facilities and services that are entirely or predominantly self‐supporting by user charges.
Examples of enterprise funds are those for water, gas, and electric utilities, swimming pools, airports, parking
garages, and transit systems.
Equipment: Tangible property of a more or less permanent nature (other than land, buildings, or
improvements other than buildings) which is useful in carrying on operations. Examples are machinery, tools,
trucks, cars, furniture, and furnishings.
Estimated Revenue: For revenue accounts kept on an accrual basis, this term designates the amount of
revenue estimated to accrue during a given period regardless of whether or not it is all to be collected during
the period. For revenue accounts kept on a cash basis, the term designates the amount of revenue estimated
to be collected during a given period. Under the modified accrual basis recommended for some funds by the
Governmental Accounting Standards Board, estimated revenues include both cash and accrual basis revenues.
See also Cash Basis, Accrual Basis, and Modified Accrual Basis.
Expenditures: Where the accounts are kept on the accrual basis or the modified accrual basis, this term
designates the cost of goods delivered or services rendered, whether paid or unpaid, including expenses,
provision for debt retirement not reported as a liability of the fund from which retired, and capital outlays.
Where the accounts are kept on the cash basis, the term designates only actual cash disbursements for these
purposes.
Note: Encumbrances are not expenditures.
Expenses: Charges incurred, whether paid or unpaid, for operation, maintenance, interest, and other charges
which are presumed to benefit the current fiscal period.
Note: Legal provisions sometimes make it necessary to treat charges whose benefits extend over future
periods as expenses. For example, purchase of materials and supplies which may be used over a period of
more than one year and payments for insurance which is to be in force for a period longer than one year
frequently must be charged in their entirety to the appropriation of the year in which they are incurred and
classified as expenses of that year, even though their benefits extend also to other periods.
Fiduciary Fund Types: The trust and agency funds used to account for assets held by a government unit in a
trustee capacity or as an agent for individuals, private organizations, other government units and/or other
funds.
Fiscal Period: Any period at the end of which a governmental unit determines its financial position and the
results of its operations.
Fiscal Year: A twelve‐month period of time to which the annual budget applies and at the end of which a
governmental unit determines its financial position and the results of its operations.
Fixed Assets: Assets of a long‐term character which are intended to continue to be held or used, such as land,
buildings, machinery, furniture, and other equipment.
Note: The term does not indicate the immobility of an asset, which is the distinctive character of "fixture."
58
Glossary
Fixed Charges: Expenses (the amount of which is set by agreement). Examples are interest, insurance, and
contributions to pension funds.
Fixtures: Attachments to buildings that are not intended to be removed and which cannot be removed
without damage to the latter.
Note: Those fixtures with a useful life presumed to be as long as that of the building itself, are considered a
part of such building; all others are classified as equipment.
Force Account Method: A method employed in the construction and/or maintenance of fixed assets whereby
a governmental unit's own personnel are used instead of an outside contractor.
Note: This method also calls for the purchase of materials by the governmental unit and the possible use of its
own equipment, but the distinguishing characteristic of the force account method is the use of the unit's own
personnel.
Franchise: A special privilege granted by a government permitting the continuing use of public property, such
as city streets, and usually involving the elements of monopoly and regulation.
FTE (Full‐Time Equivalent): A term used when developing personal services budgets; 2,080 hours worked
annually equates to 1.0 full‐time equivalent (FTE) position.
Full Faith and Credit: A pledge of the general taxing power for the payment of debt obligations.
Note: Bonds carrying such pledges are usually referred to as general obligation bonds or full faith and credit
bonds.
Function: A group of related activities aimed at accomplishing a major service or regulatory program for which
the Town is responsible. For example, public safety is a function.
Functional Classification: A grouping of expenditures on the basis of the principal purposes for which they are
made. Examples are public safety, public health, public welfare, etc. See also Activity Classification and Object
Classification.
Fund: An independent fiscal and accounting entity with a self‐balancing set of accounts recording cash and/or
other resources, together with all related liabilities, obligations, reserves, and equities which are segregated for
the purpose of carrying on specific activities or attaining certain objectives in accordance with special
regulations, restrictions, or limitations.
Fund Accounts: All accounts necessary to set forth the financial operations and financial condition of a fund.
Note: Sometimes the term is used to denote budgetary accounts as distinguished from proprietary accounts,
but such usage is not recommended.
Fund Balance: The excess of the assets of a fund over its liabilities and reserves, except in the case of funds
subject to budgetary accounting where, prior to the end of a fiscal period, it represents the excess of the fund's
assets and estimated revenues for the period over its liabilities, reserves, and appropriations for the period.
Fund Balance Sheet: A balance sheet for a single fund. See Fund and Balance Sheet.
Fund Group: A group of funds that are similar in purpose and character. For example, several special revenue
funds constitute a fund group.
Funding: The conversion of floating debt or time warrants into bonded debt.
Funding Bonds: Bonds issued to retire outstanding floating debt and to eliminate deficits.
59
Glossary
General Audit: An audit made at the close of a normal accounting period, which covers all of the funds and
balanced account groups of a governmental unit. Such audits may involve some detailed verification, as
determined by the professional judgment of the auditor, but usually they are based on appropriate tests and
checks. See also Special Audit.
General Fixed Assets: Those fixed assets of a governmental unit that are not accounted for in Enterprise, Trust,
or Intragovernmental Service Funds.
General Fixed Assets Group of Accounts: A self‐balancing group of accounts set up to account for the general
fixed assets of a governmental unit. See General Fixed Assets.
General Fund: A fund used to account for all transactions of a governmental unit that are not accounted for in
another fund.
Note: The General Fund is used to account for the ordinary operations of a governmental unit that are
financed from taxes and other general revenues.
General Long‐Term Debt: Long‐term debt legally payable from general revenues and backed by the full faith
and credit of a governmental unit. See Long‐Term Debt.
General Obligation Bonds: Bonds for whose payment the full faith and credit of the issuing body are pledged.
More commonly, but not necessarily, general obligation bonds are considered to be those payable from taxes
and other general revenues. See also Full Faith and Credit.
General Revenue: The revenues of a governmental unit other than those derived from and retained in an
enterprise.
Note: If a portion of the net income in an enterprise fund is contributed to another non‐enterprise fund, such
as the General Fund, the amounts transferred constitute general revenue of the governmental unit.
Goal: A statement of broad direction, purpose or intent based on the need of the community. A goal is
general and timeless; that is, it is not concerned with a specific achievement in a given period.
Governmental Accounting: The composite activity of analyzing, recording, summarizing, reporting, and
interpreting the financial transactions of governmental units and agencies.
Governmental Fund Types: Funds used to account for the acquisition, use and balances of expendable
financial resources and the related current liabilities ‐ except those accounted for in proprietary funds and
fiduciary funds. In essence, these funds are accounting segregations of financial resources. Expendable assets
are assigned to a particular governmental fund type according to the purposes for which they may or must be
used. Current liabilities are assigned to the fund type from which they are to be paid. The difference between
the assets and liabilities of governmental fund types is referred to as fund balance. The measurement focus in
these fund types is on the determination of financial position and changes in financial position (sources, uses
and balances of financial resources), rather than on net income determination. The statement of revenues,
expenditures and changes in fund balance is the primary governmental fund type operating statement. It may
be supported or supplemented by more detailed schedules of revenues, expenditures, transfers and other
changes in fund balance.
Grant: A contribution by one governmental unit to another. The contribution is usually made to aid in the
support of a specified function (for example, public safety), but it is sometimes also for general purposes.
Gross Bonded Debt: The total amount of direct debt of a governmental unit represented by outstanding
bonds before deduction of any assets available and earmarked for their retirement. See also Direct Debt.
60
Glossary
Improvements: Buildings, other structures, and other attachments or annexations to land which are intended
to remain so aƩached or annexed, such as sidewalks, trees, drives, tunnels, drains, and sewers.
Note: Sidewalks, curbing, sewers, and highways are sometimes referred to as "betterments," but the term
improvements other than buildings is preferred.
Improvements Other Than Buildings: A fixed asset account that reflects the acquisition value of permanent
improvements, other than buildings, which add value to land. Examples of such improvements are fences,
retaining walls, sidewalks, pavements, gutters, tunnels, and bridges. If the improvements are purchased or
constructed, this account contains the purchase or contract price. If improvements are obtained by gift, it
reflects the appraised value at time of acquisition.
Income: A term used in accounting for governmental enterprises to represent the excess of revenues earned
over the expenses incurred in carrying on the enterprise's operations. It should not be used without an
appropriate modifier, such as Operating, Non‐operating, or Net.
Note: The term Income should not be used in lieu of Revenue in non‐enterprise funds.
Interfund Accounts: Accounts in which transactions between funds are reflected. See Interfund Transfers.
Interfund Transfers: Amounts transferred from one fund to another.
Intergovernmental Revenues: Revenue received from other governments in the form of grants, shared
revenues, or payments in lieu of taxes.
Interim Borrowing: (1) Short‐term loans to be repaid from general revenues during the course of a fiscal year.
(2) Short‐term loans in anticipation of tax collections or bond issuance.
Internal Control: A plan of organization under which employees' duties are so arranged and records and
procedures so designed as to make it possible to exercise effective accounting control over assets, liabilities,
revenues, and expenditures. Under such a system, the work of employees is subdivided so that no single
employee performs a complete cycle of operations. Thus, for example, an employee handling cash would not
post the accounts receivable records. Moreover, under such a system, the procedures to be followed are
definitely laid down and require proper authorizations by designated officials for all actions to be taken.
Internal Service Fund: A fund established to finance and account for services and commodities furnished by a
designated department or agency to other departments and agencies within a single governmental unit.
Amounts expended by the fund are restored thereto either from operating earnings or by transfers from other
funds, so that the original fund is kept intact.
Inventory: A detailed list showing quantities, descriptions, and values of property, and frequently also lists
units of measure and unit prices.
Inventory of Supplies: The cost value of supplies on hand.
Investments: Securities and real estate held for the production of income in the form of interest, dividends,
rentals, or lease payments. The term does not include fixed assets used in Town operations.
Judgment: An amount to be paid or collected by a governmental unit as the result of a court decision,
including a condemnation award in payment for private property taken for public use.
Judgments Payable: Amounts due to be paid by a governmental unit as the result of court decisions, including
condemnation awards in payment for private property taken for public use.
61
Glossary
Land: A fixed asset account that reflects the value of land owned by a governmental unit. If land is purchased,
this account shows the purchase price and costs such as legal fees, filling and excavation costs, and the like,
which are incurred to put the land in condition for its intended use. If land is acquired by gift, the account
reflects the estimated fair value at the time of acquisition.
Legal Investments: Investments which governmental units are permitted to make by law.
Levy: (Verb) To impose taxes, special assessments, or service charges for the support of governmental
activities. (Noun) The total amount of taxes, special assessments, or service charges imposed by a
governmental unit.
Liabilities: Debt or other legal obligations arising out of transactions in the past which must be liquidated,
renewed, or refunded at some future date.
Note: The term does not include encumbrances.
Long‐Term Debt: Debt with a maturity of more than one year after the date of issuance.
Machinery and Equipment: See Equipment.
Maintenance: The upkeep of physical properties in condition for use or occupancy. Examples are the
inspection of equipment to detect defects and the making of repairs.
Major Fund: Funds that the revenues, expenses, assets or liabilities are greater than 10% of corresponding
totals and at least 5% of the aggregate amount for all governmental and enterprise funds.
Modified Accrual Basis: A system under which some accruals, usually costs, are recorded but others, usually
revenues, are not. The extent of modification varies in practice, depending upon the accountant's judgment.
Municipal: In its broadest sense, an adjective that denotes the state and all subordinate units of government.
In a more restricted sense, an adjective that denotes a city or town, as opposed to other units of local
government.
Municipal Bond: A bond issued by a state or local government unit.
Municipal Corporation: A body politic and corporate established pursuant to state authorization for the
purpose of providing governmental services and regulations for its inhabitants. A municipal corporation has
defined boundaries and a population, and is usually organized with the consent of its residents. It usually has
a seal and may sue and be sued.
Net Bonded Debt: Gross bonded debt less any cash or other assets available and earmarked for its retirement.
Net Income: A term used in accounting for governmental enterprises to designate the excess of total revenues
over total expenses for an accounting period. See also Income, Operating Revenues, Operating Expenses,
Non‐operating Income, and Non‐operating Expenses.
Net Revenue Available for Debt Service: Gross operating revenues of an enterprise, less operating and
maintenance expenses, yet exclusive of depreciation and bond interest. "Net Revenue" as thus defined
computes "coverage" on revenue bond issues.
Note: Under the laws of some states and the provisions of some revenue bond indentures, net revenues used
for computation of coverage are required to be on a cash basis rather than an accrual basis.
Nominal Interest Rate: The contractual interest rate shown on the face and in the body of a bond and
representing the amount of interest to be paid, in contrast to the effective interest rate.
62
Glossary
Non‐major Fund: Funds that the revenues, expenses, assets or liabilities are less than 10% of corresponding
totals and at less than 5% of the aggregate amount for all governmental and enterprise funds.
Non‐operating Expenses: Expenses incurred for non‐operating properties or in the performance of activities
not directly related to supplying the basic services of a governmental enterprise. An example of a non‐
operating expense is interest paid on outstanding revenue bonds. See also Non‐operating Properties.
Non‐operating Income: Income of governmental enterprises that is not derived from the basic operations of
such enterprises. An example is interest on investments or on bank time deposits.
Non‐operating Properties: Properties that are owned by a governmental enterprise but which are not used in
the provision of basic services for which the enterprise exists.
Notes Payable: In general, an unconditional written promise signed by the maker to pay a certain sum of
money on demand or at a fixed or determinable time either to the bearer or to the order of a person
designated therein.
Notes Receivable: A note payable held by a governmental unit.
Object: As used in expenditure classification, this term applies to the article purchased or the service obtained
(as distinguished from the results obtained from expenditures). Examples are personal services, contractual
services, materials, and supplies. See also Activity Classification, Functional Classification, and Object
Classification.
Objective: Desired output oriented accomplishments that can be measured and achieved within a given time
frame. Achievement of the objective advances the activity and organization toward a corresponding goal.
Object Classification: A grouping of expenditures on the basis of goods or services purchased; for example,
personal services, materials, supplies and equipment. See also Functional Classification and Activity
Classification.
Obligations: Amounts that a governmental unit may be required legally to meet out of its resources. They
include not only actual liabilities, but also unliquidated encumbrances.
Obsolescence: The decrease in the value of fixed assets resulting from economic, social, technological, or legal
changes.
Operating Budget: Operating budgets serve many purposes within a government entity, but they have two
primary purposes: (1) to plan the services that are going to be offered during the coming year and set
priorities; (2) to conform with legal requirements to ensure that expenditures do not exceed those
appropriated. Operating budgets are also called Annual Budgets. See Budget.
Operating Expenses: (1) As used in the accounts of governmental enterprises, the term means those costs
which are necessary to the maintenance of the enterprise, the rendering of services, the sale of merchandise,
the production and disposition of commodities produced, and the collection of enterprise revenues, and (2)
the term is also sometimes used to describe expenses for general governmental purposes.
Operating Income: Income of a governmental enterprise that is derived from the sale of its goods and/or
services. For example, income from the sale of water by a municipal water utility is operating income. See also
Operating Revenues.
Operating Revenues: Revenues derived from the operation of governmental enterprises of a business
character.
63
Glossary
Operating Statement: A statement summarizing the financial operations of a governmental unit for an
accounting period as contrasted with a balance sheet which shows financial position at a given moment in
time.
Ordinance: A formal legislative enactment by the council or governing body of a municipality. If it is not in
conflict with any higher form of law, such as a state statute or constitutional provision, it has the full force and
effect of law within the boundaries of the municipality to which it applies.
Note: The difference between an ordinance and a resolution is that the latter requires less legal formality and
has a lower legal status. Ordinarily, the statutes or charter will specify or imply those legislative actions that
must be by ordinance and those which may be by resolution. Revenue raising measures, such as the
imposition of taxes, special assessments and service charges, universally require ordinances.
Original Cost: The total of assets given and/or liabilities assumed to acquire an asset. In utility accounting, the
original cost to the first owner who dedicated the plant to service of the public.
Overhead: Those elements of cost necessary in the production of an article or the performance of a service
which are of such a nature that the amount applicable to the product or service cannot be determined
accurately or readily. Usually they relate to those objects of expenditures which do not become an integral
part of the finished product or service such as rent, heat, light, supplies, management, supervision, etc.
Overlapping Debt: The proportionate share of the debts of local governmental units located wholly or in part
within the limits of the reporting government which must be borne by property within each governmental unit.
Note: Except for special assessment debt, the amount of debt of each unit applicable to the reporting unit is
arrived at by (1) determining what percentage of the total assessed value of the overlapping jurisdiction lies
within the limits of the reporting unit, and (2) applying this percentage to the total debt of the overlapping
jurisdiction. Special assessment debt is allocated on the basis of the ratio of assessments receivable in each
jurisdiction, which will be used wholly or in part to pay off the debt to total assessments receivable, which will
be used wholly or in part for this purpose.
Pay‐As‐You‐Go: A method of financing improvements that refers to the allocation of a significant portion of
operating revenues each year to a revenue fund. The monies in this fund are to be used for annual
improvements or saved until they are sufficient for large projects. A regular allocation made from the
operating budget to smooth budget allocations for expenditures and eliminate the need for bond financing.
Sometimes referred to as pay‐as‐you‐acquire financing.
Pay‐As‐You‐Use: A method of financing long‐term improvements by serial debt issues with maturities
arranged so that the retirement of debt coincides with the depreciation or useful life of the improvement. In
theory, the interest and debt retirement charges paid by each generation of taxpayers or users coincide with
their use and enjoyment of the improvement. Under pay‐as‐you‐use, each user group pays for its own
improvements. No one is forced to provide free goods or services for a future generation or to contribute
toward facilities for a community in which he or she will not live, nor will new members of the community
derive benefits from improvements that they have not assisted in financing.
Prior Years' Tax Levies: Taxes levied for fiscal periods preceding the current one.
Private Trust Fund: A trust fund that will ordinarily revert to private individuals or will be used for private
purposes; for example, a fund that consists of guarantee deposits.
Program: A group of related activities performed by one or more organization units for the purpose of
accomplishing a function for which the town is responsible.
Project: A plan of work, job, assignment, or task.
64
Glossary
Proprietary Accounts: Those accounts which show actual financial position and operations, such as actual
assets, liabilities, reserves, fund balances, revenues, and expenditures, as distinguished from budgetary
accounts.
Proprietary Fund Types: Sometimes referred to as income determination or commercial‐type funds, the
classification used to account for a government's ongoing organizations and activities that are similar to those
often found in the private sector (i.e., enterprise and internal service funds). All assets, liabilities, equities,
revenues, expenses, and transfers relating to the government's business and quasi‐business activities are
accounted for through proprietary funds. The GAAP used are generally those applicable to similar businesses
in the private sector and the measurement focus is on determination of net income, financial position and
changes in financial position.
Public Trust Fund: A trust fund whose principal, earnings, or both, must be used for a public purpose; for
example, a pension or retirement fund.
Purchase Order: A document that authorizes the delivery of specified merchandise or the rendering of certain
services and the making of a charge for them.
Special Purpose District: allows for a dedicated sales tax resource.
Rate Base: The value of utility property used in computing an authorized rate of return as authorized by law or
a regulatory commission.
Receipts: This term, unless otherwise qualified, means cash received. See also Revenue.
Recoverable Expenditures: An expenditure made for or on behalf of another governmental unit, fund, or
department, or for a private individual, firm, or corporation, which will subsequently be recovered in cash or
its equivalent.
Refunding Bonds: Bonds issued to retire bonds already outstanding. The refunding bonds may be sold for
cash and outstanding bonds redeemed in cash, or the refunding bonds may be exchanged with holders of
outstanding bonds.
Registered Bond: A bond, the owner of which is registered with the issuing governmental unit, and which
cannot be sold or exchanged without a change of registration. Such a bond may be registered as to principal
and interest or as to principal only.
Reimbursement: Cash or other assets received as a repayment of the cost of work or services performed or of
other expenditures made for or on behalf of another governmental unit or department or for an individual,
firm, or corporation.
Replacement Cost: The cost as of a certain date of a property which can render similar service (but need not
be of the same structural form) as the property to be replaced. See also Reproduction Cost.
Reproduction Cost: The cost as of a certain date of reproducing an exact new property in the same place.
Note: Sometimes this term is designated as "reproduction cost new" to distinguish it from "depreciated
reproduction cost," which is the reproduction cost of a given property less the estimated amount of
accumulated depreciation applicable to it. In the absence of any modifier, however, the term "reproduction
cost" is understood to be synonymous with "reproduction cost new." See also Replacement Cost.
Requisition: A written demand or request, usually from one department to the purchasing officer or to
another department, for specified articles or services.
65
Glossary
Reserve: An account which records a portion of the fund balance which must be segregated for some future
use and which is, therefore, not available for further appropriation or expenditure. A Reserve for Inventories
equal in amount to the Inventory of Supplies on the balance sheet of a General Fund is an example of such a
reserve.
Reserve for Revenue Bond Debt Service: A reserve in an Enterprise Fund which represents the segregation of a
portion of retained earnings equal to current assets that are restricted to current servicing of revenue bonds in
accordance with the terms of a bond indenture.
Reserve for Revenue Bond Retirement: A reserve in an Enterprise Fund which represents the segregation of a
portion of retained earnings equal to current assets that are restricted for future servicing of revenue bonds in
accordance with the terms of a bond indenture.
Resolution: A special or temporary order of a legislative body; an order of a legislative body requiring less legal
formality than an order or statute. See also Ordinance.
Resources: The actual assets of a governmental unit, such as cash, taxes receivable, land, buildings, etc., plus
contingent assets such as estimated revenues applying to the current fiscal year not accrued or collected, and
bonds authorized and unissued.
Retained Earnings: The accumulated earnings of an Enterprise or Internal Service Fund which have been
retained in the fund and which are not reserved for any specific purpose.
Retirement Fund: A fund out of which retirement annuities and/or other benefits are paid to authorized and
designated public employees. A retirement fund is accounted for as a Trust Fund.
Revenue: For those revenues which are recorded on the accrual basis, this term designates additions to assets
which: (a) do not increase any liability; (b) do not represent the recovery of an expenditure; (c) do not
represent the cancellation of certain liabilities without a corresponding increase in other liabilities or a
decrease in assets; and (d) do not represent contributions of fund in Enterprise and Internal Service Funds.
The same definition applies to those cases where revenues are recorded on the modified accrual or cash basis,
except that additions would be partially or entirely to cash. See also Accrual Basis, Modified Accrual Basis,
Cash Basis, Net Revenue Available for Debt Service, and Receipts.
Revenue Bonds: Bonds whose principal and interest are payable exclusively from earnings of a public
enterprise. In addition to a pledge of revenues, such bonds sometimes contain a mortgage on the enterprise's
property and are then known as mortgage revenue bonds.
Schedules: (1) The explanatory or supplementary statements that accompany the balance sheet or other
principal statements periodically prepared from the accounts. (2) The accountant's or auditor's principal work
papers covering his examination of the books and accounts. (3) A written enumeration or detailed list in
orderly form. See also Statements.
Securities: Bonds, notes, mortgages, or other forms of negotiable or non‐negotiable instruments. See also
Investments.
Self‐Supporting or Self‐Liquidating Debt: Debt obligations whose principal and interest are payable solely from
the earnings of the enterprise for the construction or improvement of which they were originally issued. See
also Revenue Bonds.
Serial Annuity Bonds: Serial bonds in which the annual installments of bond principal are so arranged that the
combined payments for principal and interest are approximately the same each year.
Serial Bonds: Bonds the principal of which is repaid in periodic installments over the life of the issue.
66
Glossary
Shared Revenue: Revenue which is levied by one governmental unit but shared, usually in proportion to the
amount collected, with another unit of government or class of governments.
Short‐Term Debt: Debt with a maturity of one year or less after the date of issuance. Short‐term debt usually
includes floating debt, bond anticipation notes, tax anticipation notes, and interim warrants.
Special Assessment: A compulsory levy made by a local government against certain properties to defray part
or all of the cost of a specific improvement or service which is presumed to be of general benefit to the public
and of special benefit to such properties.
Note: The term should not be used without a modifier (for example, "special assessments for street paving,"
or "special assessments for street sprinkling") unless the intention is to have it cover both improvements and
services, or unless the particular use is apparent from the context.
Special Assessment Bonds: Bonds payable from the proceeds of special assessments. If the bonds are payable
only from the collections of special assessments, they are known as "special assessment bonds." If, in addition
to the assessments, the full faith and credit of the governmental unit are pledged, they are known as "general
obligation special assessment bonds."
Special Assessment Fund: A fund set up to finance and account for the construction of improvements or
provision of services which are to paid for, wholly or in part, from special assessments levied against benefited
property. See also Special Assessment and Special Assessment Bonds.
Special Assessment Roll: The official list showing the amount of special assessments levied against each
property presumed to be benefited by an improvement or service.
Special Audit: An audit which is limited to some particular phase of a governmental unit's activity, such as the
examination of a Projects Fund, or an audit which covers all of the governmental unit's activities for a shorter
or longer period of time than the usual accounting period of one fiscal year. Such audits may involve some
detailed verifications as determined by the professional judgment of the auditor, but usually they are based on
appropriate tests and checks. See General Audit.
Special District: An independent unit of local government organized to perform a single governmental function
or a restricted number of related functions. Special districts usually have the power to incur debt and levy
taxes; however, certain types of special districts are entirely dependent upon enterprise earnings and cannot
impose taxes. Examples of special districts are water districts, drainage districts, flood control districts,
hospital districts, fire protection districts, transit authorities, port authorities, and electric power authorities.
Special Fund: Any fund that must be devoted to some special use in accordance with specific regulations and
restrictions. Generally, the term applies to all funds other than the General Fund.
Special Revenue Fund: A fund used to account for revenues from specific taxes or other earmarked revenue
sources which by law are designated to finance particular functions or activities of government. Includes
intergovernmental revenue in the form of state and federal grant funds.
Statements: (1) Used in a general sense, statements are all of those formal written presentations that set forth
financial information. (2) In technical accounting usage, statements are those presentations of financial data
that show the financial position and the results of financial operations of a fund, a group of accounts, or an
entire governmental unit for a particular accounting period. See also Schedules.
Statute: A written law enacted by a duly organized and constituted legislative body. See also Ordinance and
Resolution.
Stores: Goods on hand in storerooms, subject to requisition and use.
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Glossary
Straight Serial Bonds: Serial Bonds in which the annual installments of a bond principal are approximately
equal.
Surety Bond: A written promise to pay damages or to indemnify against losses caused by the party or parties
named in the document, through nonperformance or through defalcation. An example is a surety bond given
by a contractor or by an official handling cash or securities.
Surplus: The excess of the assets of a fund over its liabilities, or if the fund has other resources and
obligations, the excess of resources over the obligations. The term should not be used without a properly
descriptive adjective unless its meaning is apparent from the context. See also Fund Balance, and Retained
Earnings.
Symbolization: The assignment of letters, numbers, or other marks or characters to the ordinary titles of the
ledger accounts. Each letter or number should have the same meaning wherever used and should be selected
with great care so that it will indicate, immediately and with certainty, the title of the account, as well as its
place in the classification. The use of proper symbols saves much time and space in making the book record
and adds to its precision and accuracy. See also Coding.
Tax Levy: The total amount to be raised by general property taxes for purposes specified in the Tax Levy
Ordinance.
Tax Levy Ordinance: An ordinance by means of which taxes are levied.
Tax Liens: Claims which governmental units have upon properties until taxes levied against them have been
paid.
Note: The term is sometimes limited to those delinquent taxes for the collection of which legal action has been
taken through the filing of liens.
Tax Rate: The amount of tax levied for each $100 of assessed valuation.
Tax Rate Limit: The maximum rate at which a governmental unit may levy a tax. The limit may apply to taxes
raised for a particular purpose, or to taxes imposed for all purposes; and may apply to a single government, to
a class of governments, or to all governmental units operating in a particular area. Overall, tax rate limits
usually restrict levies for all purposes and of all governments, state and local, having jurisdiction in a given
area.
Tax Roll: The official list showing the amount of taxes levied against each taxpayer or property. Frequently, the
tax roll and the assessment roll are combined, but even in these cases the two can be distinguished.
Tax Supplement: A tax levied by a local unit of government which has the same base as a similar tax levied by
a higher level of government, such as a state or province. The local tax supplement is frequently administered
by the higher level of government along with its own tax. A locally imposed, state‐administered sales tax is an
example of a tax supplement.
Taxes: Compulsory charges levied by a governmental unit for the purpose of financing services performed for
the common benefit.
Note: The term does not include specific charges made against particular persons or property for current or
permanent benefits such as special assessments. Neither does the term include charges for services rendered
only to those paying such charges as, for example, water and sewer charges.
Taxes Receivable‐Current: The uncollected portion of taxes that a governmental unit has levied, which has
become due but on which no penalty for nonpayment attaches.
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Glossary
Taxes Receivable‐Delinquent: Taxes remaining unpaid on and after the date on which a penalty for
nonpayment is attached. Even though the penalty may be subsequently waived and a portion of the taxes
may be abated or canceled, the unpaid balances continue to be delinquent taxes until paid, abated, canceled,
or converted into tax liens.
Term Bonds: Bonds that the entire principal of which matures on one date. Also called sinking fund bonds.
Trust and Agency Funds: Funds used to account for assets held by a government in a trustee capacity or as an
agent for individuals, private organizations, other governments and/or other funds.
Trust Fund: A fund consisting of resources received and held by the governmental unit as trustee, to be
expended or invested in accordance with the conditions of a trust. See also Private Trust Fund and Public
Trust Fund.
Unappropriated Budget Surplus: Where the fund balance at the close of the preceding year is not included in
the annual budget, this term designates that portion of the current fiscal year's estimated revenues which has
not been appropriated. Where the fund balance of the preceding year is included, this term designates the
estimated fund balance at the end of the current fiscal period.
User Charges: The payment of a fee for direct receipt of a public service by the party benefiting from the
service.
Utility Fund: See Enterprise Fund.
Work Program: A plan of work proposed to be done during a particular period by an administrative agency in
carrying out its assigned activities.
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THANK YOU, BUDGET TEAM!
The Town Budget truly takes teamwork, and I trust more hands
went into this effort than are recognized here.
I’d like to thank those listed below who were instrumental in
preparation of the adopted budget.
Bob Scott, Deputy Town Manager Carrie Jones, Public Works
Chuck Ewings, Assistant Town Manager Leigh Johnson, IT
Robyn Battle, Executive Director Dan Baker, Parks
Chief Blasingame, Fire Hulon Webb, Engineering
Assistant Chief Eft, Fire David Hoover, Dev. Services
Chief Kowalski, Police
Assistant Chief Brewer, Police
Michelle Lewis Sirianni, Town Secretary
Chris Landrum
Finance Director
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