Title
Conduct Public Hearing to Consider/Discuss/Act on the Adoption of the Budget Appropriation Ordinance for FY 2025-26
In accordance with Texas Government Code ?551.043, the City of McKinney Proposed Budget for Fiscal Year 2025-26 is posted on the City of McKinney webpage at https://www.mckinneytexas.org/210/Budget and the Taxpayer Impact Statement is provided on this agenda. To view, click the links below.
Summary
COUNCIL GOAL: Financially Sound Government
(4A: Provide Funding and Organizational Framework to Ensure Continual Economic Improvements)
MEETING DATE: September 2, 2025
DEPARTMENT: Financial Services
CONTACT: Mark Holloway, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
* Conduct the Public Hearing on the Budget Appropriation Ordinance for Fiscal Year 2025-26.
* Conduct a record vote to adopt the budget.
* Approve the ordinance to adopt the budget.
ITEM SUMMARY:
* Proposed budget for all operating funds and CIP projects for Fiscal Year 2025-26 total $942 million.
* Proposed budget for component unit funds for Fiscal Year 2025-26 are as follows:
o McKinney Convention & Visitors Bureau $1,723,781
o MEDC Debt Service Fund $6,208,090
o McKinney Economic Development Corp $27,519,420
o McKinney Community Development Corp $27,311,374
o McKinney Housing Finance Corp $541,095
* The proposed tax rate is $0.412284 per $100 of assessed value.
* Taxpayer Impact Statement:
BACKGROUND INFORMATION:
* The City Charter provides that "The City Council shall pass the appropriation ordinance in accordance with state law. Provision shall be made for public hearings upon the appropriation ordinance before the City Council."
* The Public Hearing on September 2, 2025, Council meeting satisfied the Charter requirement.
* The appropriation ordinance is to be published once before adoption.
* Any changes the Council wishes to make may be incorporated in the appropriation ordinance before the final adoption action by the Council on September 2, 2025.
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