Proposed 2022-2023 Budget

The Finance Department develops and manages the Town's budgeting system and provides financial information to external users and internal teams. This information is used to monitor the expenditure of taxpayer dollars and public funds and ensure that the Town's financial transactions are conducted following statutory and contractual requirements and Town policies.

The Fiscal Year 2022-2023 Proposed Budget is based on Tax Year 2022 expected revenue. The Town of Little Elm contracts with the Denton County Tax Assessor to calculate the Town's tax rates. For Fiscal Year 2022-2023, the following rates were calculated used by the Town to produce its budget. Read an explanation of how rates were calculated

View the FY 2021-2022 Adopted Budget 

Notice of Proposed Tax Rate Coming Soon 

CategoryRate

2022 No-New-Revenue Rate

$0.568265/$100

2022 Maintenance & Operation No-New-Revenue Tax Rate

$0.469968/$100

2022 Maintenance & Operation Voter-Approval Tax Rate

$0.486416/$100

2022 Debt Service Rate

$0.143484/$100

2022 Voter-Approval Rate

$0.629900/$100

2022 Adopted Tax Rate



The estimated unencumbered fund balances for FY2022 are in compliance with the Town's adopted financial standards and are as follows:

Type of Property Tax Fund                                                          Fund Balance

General Fund                                                                                   $32,390,635

Special Revenue Funds                                                                    $7,408,580

General Debt Service Fund                                                               $1,073,555

Governmental Capital Projects Funds                                           $35,788,293

Enterprise Operating Funds                                                            $20,496,731

Enterprise Capital Projects Funds                                                  $12,383,730

Internal Service Funds                                                                       $3,534,374

The Town of Little Elm will pay $8,690,561 in debt service during the Fiscal Year 2022-2023. The Town’s Debt Obligations are as follows: 

Description of DebtPrincipal or Contract Amount to Be Paid From Property TaxesInterest to Be Paid From Property TaxesOther Amounts to Be PaidTotal Payments
SERIES 2014 GO-REF $4.5M140,000.0037,750.001,000.00178,750.00
2012 GO REF BONDS- $6.985M170,000.005,100.001,000.00176,100.00
G0 REF SERIES 2012A195,000.0021,318.001,000.00217,318.00
CO SERIES 2013-$6M290,000.00116,700.001,000.00407,700.00
CO SERIES 2013-$3M150,000.0067,925.001,000.00218,925.00
2015 DO $9.66M435,000.00206,337.001,000.00642,377.00
2016 REF GO-$6.72M655,000.0083,618.001,000.00739,618.00
2018 CO $15.46M485,000.00408,731.001,000.00894,731.00
2019 REF GO690,00000179,600.001,000.00870,600.00
2019 CO $ PRIN250,000.00206,000.001,000.00457,000.00
2020 GO REF-$5.72M540,000.0048,276.00
1,000.00589,276.00
2020 CO-$4.085M165,000.0087,600.001,000.00253,600.00
2021 CO PRIN-$15M475,000.00429,868.001,000.00905,868.00
2022 CO $10M1,075,000.00418,093.001,000.001,494,093.00
TIF AGREEMENTS           0           0                     644,645.00390,139.00









8,690,561.00


The anticipated collection rate for Fiscal Year 2022-2023 is 100 percent, and the amount for debt service to be collected by taxes for Fiscal Year has been decreased by $679,408 because of excess debt collection from July 1 through June 30 of the previous year. 

Tax Rate & Budget Information

The fiscal year budget is adopted by Town Council in September along with the tax rate. For questions related to the annual budget, the Finance Department can be reached at:

Finance Department
Town of Little Elm
100 W. Eldorado Parkway
Little Elm, TX 75068
214-975-0415

FinanceTax@littleelm.org

The Town of Little Elm is in Denton County, which maintains a database of Property Tax Related Information.

View the Town's Annual Budget and the most recent Comprehensive Annual Financial Report.

 


FY 2021FY 2022FY 2023 ProposedAmount Change% Change

Tax Rate (per $100)

0.6499
0.643948
0.629900
-0.014048
-0.0218%

Annual Recurring Budget Amount

 $81,815,102.00
 $85,704,178.00
    $94,989,112.00
$9,284,934.000.1083%

Property Tax Rate for Maintenance & Operation (per $100)

0.520.5240350.486416-0.037619
-0.0718%

Property Tax Revenue Budgeted for Maintenance & Operation

$22,966,506.00$24,393,411.00$26,343,296.00$1,949,885.000.0799%

Property Tax Rate for Debt Service (per $100)

0.1297020.1199130.143484-0.0235710.1966%

Property Tax Revenue Budgeted for Debt Service

$5,718,514.00$5,500,782.00$7,770,800.00$2,270,018.000.4127%