City of Livingston 2011-2012 Budget

• The City was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association for its 2009 Comprehensive Annual Financial Report. This is the 22nd consecutive year the City has earned this prestigious national award.
• City Council approved the Trinity River Authority’s authorization of issuance of Contract Revenue Bonds for financing to fund the upgrade of the existing 12” transmission line to a 20” line from the water treatment plant on FM 350 South which supplies the City’s water, at a cost of approximately $2,700,000.
• In the fiscal year ending 9/30/10, sales tax revenue decreased by 11.2 percent, or $380,324.87, from the previous year, which required the City to take action to reduce expenses for the 2009-2010 fiscal year by imposing a hiring freeze and delaying capital projects and equipment purchases.
• As part of the 2010-2011 budget process, City Council increasedelectric rates by 1/2 cent per kWh for all customer classifications to meet increased cost for purchase of electric power from the Sam Rayburn Municipal Power Agency. Service fees were also increased for sanitation and water services for the first time since 2006.

In 2009 the City received its 22nd consecutive award for the highest recognition given in governmental accounting and financial reporting. This attainment represents a significant accomplishment for the City and its management.

Finances: