The 2012-13 budget for the City of Borger is progressing towards passage.
During its regular meeting Tuesday, the Borger City Council acted to receive the FY 2012-13 operating budget.
A public hearing on the budget will be held at 1:30 p.m. Tuesday, Sept. 4, 2012, to allow for comments from citizens.
Eddie Edwards, Borger City Manager, said over the last three months, various directors and staff have been preparing the proposed FY 2012-13 operating budget.
The proposed budget includes revenue estimates of $21,006,714 and expenditures of $21,221,991.
Edwards said that expenditures are approximately $215,277 more than revenues mainly due to a planned reduction of excess reserve in the debt service fund and other restricted reserve funds.
He said he knows the council usually acts on the tax rate, but due to the fact that this budget is based on a tax rate that is below the effective rate, no official action on the tax rate is required at this time. Action on the tax rate will need to be taken at the next two meetings of the council.
Currently, the effective tax rate is roughly 88 cents per $100 valuation, and the City of Borger is looking at lowering this tax rate to around 82 or 83 cents, well below the effective rate, Edwards said.
He said he is not sure how this will affect individual homeowners and their valuations of their property.
Mayor Pro-Tem Robert Vinyard said the city council is being frugal with the funds of citizens.
â€śWeâ€™re trying to do what the city needs to be doing, but also being very conservative,â€ť he said