By MARTHA McCLAIN
Special to the PRESS
Preparing for a new fiscal year in October, Laguna Vista Council Members have approved their operating budget of $1,713,331 for the 2018-2019 fiscal year.
Additionally, an effective tax rate on real property of 0.354124 was approved for the coming fiscal year, unchanged from last year.
City Manager Rolando Vela presented the financial plan that includes $964,218 in property tax revenues, 110,000 in court fines, $98,000 in court costs to the state, $110,000 in sales tax, $145,000 in franchise fees, $93,750 in police grants, $3,000 in interest and dividends, $75,000 in building permits, $9,500 in delinquent property tax and other miscellaneous revenue streams.
In expenditures, administrative fees total $444,000 with salaries listed at $138,689, employee benefits at $52,795, contracted services at $22,000, building insurance at $45,000, legal services at $40,000, $16,500 in financial services and $15,000 in tax collections.
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