La Marque: City faces $1M deficit

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by T.J. Aulds/ The Daily News

khou.com

Posted on July 16, 2012 at 7:22 AM

LA MARQUE, Texas — City council members have known for months that this year’s city budget cycle would be lean. What they didn’t count on was the city would face a possible $1 million shortfall before the first budget hearing could be scheduled.

When the council gets together to get the first look at the city’s financial situation in a workshop today, it will hear that the last budget cycle wasn’t as rosy as the previous city hall administration led on, reserves have dwindled and that a tax rate increase might be in the offing.

An initial budget proposal from City Manager Carol Jo Buttler outlines a proposal for a 8.5-cent tax rate hike, that could bring the city’s tax rate to 60 cents per $100 of assessed property value. Even then, Councilman James Osteen said the city would likely still face a budget shortfall of $500,000.

Click here to read more at the Galveston Daily News.

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