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City Council Meeting Minutes - Final May 29, 2018 <br />bring back for approval in the fall. <br />Council consensus was to remove this item from the June 5th meeting. <br />13. Receive a Staff presentation and update regarding the Fiscal Year 2018-2019 Budget, <br />and provide direction to the City Manager. <br />Heather Hurlbert, Finance Director, provided a presentation regarding the <br />Fiscal Year 2018-2019 Budget. <br />Mayor Thomaides asked if staff could create a revenue and expense <br />assumption. Mrs. Hurlbert stated this could be modeled out and given to <br />Council. <br />Council Member Hughson requested the revenue trend graph include the net <br />property tax increases for those who are receiving tax abatements. This will be <br />created and presented to Council. <br />Council requested that the following language located on the Historical <br />Growth of Property Tax and Incentive Rebates Slide be looked into and <br />revised: In FY18 the growth percentages reverse resulting in less available <br />funding capacity to cover growing base costs for the general fund. <br />The Loop FM 110 TRZ was discussed with the Original City Contribution <br />being estimated at $24M, CAMPO funding could reduce City Contribution to <br />$9M, Annual contribution in 2019 estimated at $1.2M <br />The City and County are negotiating with TXDOT to reduce the annual <br />contribution which could possibly eliminate the FM 110 TRZ. This would free <br />up capacity for future economic incentives and would create greater financial <br />capacity in the General Fund. Council consensus is to move forward with <br />negotiations. <br />Homestead Exemption and Over 65 Freeze was discussed in detail. Mayor <br />Thomaides suggested the City incorporate a $5000 exemption for homeowners. <br />Council Member Hughson suggested we wait until after budget discussions to <br />determine where this money would come from to fund this exemption. <br />Mrs. Hurlbert discussed the cost drivers and allocations which include <br />personnel, health insurance, software maintenance and licensing, and maintain <br />operating capacity for Library, Fire Station #8, and Fire <br />Training Field. <br />city 0San Marcos Page 8 <br />