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City of Dripping Springs Fiscal Year 2022-2023 Budget Approved

Posted on: September 21, 2022 - 9:00am
budget graphic

DRIPPING SPRINGS, TEXAS – September 21, 2022 – The Dripping Springs City Council approved the fiscal year 2022-2023 operating budget of $30,414,062.84 in expenses. The Council, knowing the challenges many could face due to the economy, adopted a budget with a decrease in the property tax rate, reducing it from 19 cents per hundred dollars of assessed valuation down to 17.78. Some of the additional budget dollars derived from Ad Valorem have come from new properties either built or annexed into the City which require additional services and expenditures by the City.

The budget includes funding for numerous projects and programs designed to support the City now and in the future.  Some of the highlighted projects include:

Transportation

This budget provides almost $900,000.00 in roadway maintenance, repair, and construction, funding the first year of the City’s Five-Year Road Maintenance Plan. The City has committed an additional $1,096,000.00 towards major transportation improvements, bringing a total of $1,996,000 in road improvements.

Parks

Over $548,000.00 in Park Improvements is slated to be completed in FY 2023.  This includes parking improvements and additional skate park funding at Founders Memorial Park, funding for future lighting improvements at Sports and Recreation Park, and construction of park wayfinding signage at Founders Memorial Park and Veterans Memorial Park.

Utilities

The budget, for the first time, establishes a comprehensive Utility Fund which incorporates both wastewater and water operations.

Capital Projects

The adopted budget includes funding for numerous Capital Projects, including remodeling of City Hall, rehabilitation of the Stephenson Building, Downtown Public Restrooms, and drainage improvements at the Dripping Springs Ranch Park.

Due to the City’s traditionally conservative approach to budgeting, the City continues to be in a position of strength moving into the next Fiscal Year. The City has maintained reserves to handle economic uncertainties now and for future years.

For questions, please email communications@cityofdrippingsprings.com or contact the City of Dripping Springs at 512-858-4725. Please also see the Budget Highlights sheet for additional information.