City Finances

The City of Sherman's fiscal year begins on October 1 and ends on September 30. The City Council controls the finances of the city through the annual budget. Developed through a rigorous process and adopted via an ordinance, the budget provides appropriations which are the permission to spend public funds.

 2018-2019 Budget​

​The City Council adopted the 2018-2019 Annual Budget at the August 20, 2019 City Council Meeting.  The $99.4 million includes funding for growth through appropriations for 21 additional positions, $4.9 million in fleet and equipment, $7.5 million in parks projects, $10 million in utility and facility projects, and $13.5 million in street projects.  A two-and-a-half percent increase in solid waste rates is included.  Property tax rates remain unchanged.  This budget is about $4.7 million more than the original FY 2018 budget due to the costs of additional personnel, street materials, debt service and capital expenses.  Fund balances are maintained at targeted levels.

2017-2018 Budget

The City Council adopted the 2017-2018 Budget on August 21, 2017.  The budget of $94.6 million in appropriations includes funding for additional ball fields at Pecan Grove Park, extension of Travis Street West, two new positions in the street department and equipment to allow the City to perform work in-house that was previously done by a contractor, and two new positions in Equipment Services to staff another location for maintenance at the Solid Waste and Street Department facility.  Public Safety compensation was increased to help the City be more competitive with surrounding communities.  A property tax increase from $.3943 to $.4273 is included to fund debt service on certificates of obligation issued in FY 2017.  A 3% increase in Utility rates is included to help compensate for lagging consumption and decreased industrial usage.

Prior Annual Budgets