The Woodlands begins its budgeting process
The Woodlands officials have begun reviewing a preliminary budget for the upcoming year through 2018, with early projections showing a $12.4 million increase in revenue over the next four years.
Township staff members are shaping and developing several budget scenarios for the board of directors to consider in July and August.
Most of the revenue growth projected in the preliminary reports is fueled by the growing property and sales tax bases, according to township documents.
“These numbers will definitely change because it’s still early. The point I’m trying to make is that these
numbers are preliminary,” said Monique Sharp, administration and finance assistant general manager for The Woodlands.
An early look into 2015 shows a 12percent increase in TheWoodlands’ taxable values, increasing to $16.3 billion from $14.5 billion.
The revenue growth brings increased operating expenses and Sharp said the township projects an increase to $94.4 million by 2018, up from $77.6million.
Community services, emergency services and parks and recreation are among the areas where officials expect to increase funding.
Residents in TheWoodlands will have a chance to weigh in on the budget during public meetings which will be scheduled for either late July or August.
Officials say they hope more residents will chime in during the budgeting process.
“Last year, only three people attended the budget hearing,” Township Chairman Bruce Tough said.
In addition to reviewing preliminary budgets, the township’s board of directors also revisited its strategic planning goals and how the budget forecast fits into it.
Some of the areas the township looks to address are improving communication, providing more safe bicycling options and establishing Wi-Fi access in various areas of the township.
Township board members also stated they want to begin setting the stage for future incorporation of The Woodlands.
In2007, The Woodlands’ voters overwhelmingly approved a change in governmental structure that led to The Woodlands entering into an agreement with Houston and Conroe for at least 40 years to avoid annexation by those cities.
The agreements, which went into effect May 29 of that year, allowed for the release of The Woodlands from the extraterritorial jurisdictions of the two cities, making way for The Woodlands to consider becoming acity.
The first time an incorporation vote could occur for TheWoodlands would be this November, but officials have asserted they will delay the vote until ideal economic conditions are met.
The last time an incorporation vote can occur under the agreement would be May 2057.
According to one study, the property tax rate of The Woodlands would increase by 70.4 percent if it were to become a city.
Tough said the ideal time to begin considering converting the township into a city should begin now.
However, he added that it’s important to take the necessary steps to reduce taxes and debts to lessen the looming tax burden residents could face when the township becomes a city.
A few of the steps that officials say they need to accomplish include drafting a city charter and outlining goals.