MARBLE FALLS — The City Council Sept. 4 approved a balanced budget that funds a 3 percent merit raise for municipal employees and levies a slightly higher property tax rate.
The 2012-2013 fiscal year budget is $11.6 million, including the general fund and debit service. The general fund — which pays for day-to-day operations and salaries — accounts for $8.4 million.
The new budget goes into effect Oct. 1 and ends Sept. 30, 2013.
The budget approved by council during its regular meeting includes a 3 percent merit raise for staff, who haven’t seen a pay increase in three years, officials said.
“This is a balanced budget,” Finance Director Margie Cardenas told the council.
The council also adopted a tax rate of 64.83 cents per $100 valuation, which is four-tenths of a penny above the previous rate. The rate breaks down to 48.46 cents for the general fund and 16.37 cents for paying off debts.
Though the overall rate is slightly higher for the coming fiscal year, Cardenas said it will generate the same amount of revenue for the city under the previous figure.
Along with the property tax, the city relies on a sales taxes to generate revenue.
The general fund came in less than a percent below the 2011-2012 budget, Cardenas said.
In other business, the council approved a proclamation recognizing 2004 Marble Falls High School graduate Leonel “Leo” Manzano, who won the silver medal in the men’s 1,500-meter race during the 2012 London Summer Olympic games.
Mayor George Russell said plans are under way to honor the former Granite Shoals resident Sept. 30 during a celebration that will likely begin at the high school and conclude in his hometown.
His parents still live in Granite Shoals.
“There are a number of people working on a special event for Leonel,” the mayor said.
The council also appointed Marble Falls native Seth Mayfield to the Parks and Recreation Commission to fill the unexpired term left by Lloyd Larson when he ran for City Council during the May election.