The City of West University Place Charter requires that the City Manager prepare and submit annually to City Council a budget. In late spring each year, the city kicks off this annual budget process to determine the needs of the city. Departments submit their requests in early July and review them with the City Manager in early August. The proposed budget goes to City Council for presentation, public hearing, and voting in August/September for use in the next fiscal year (FY). Once adopted, the budget takes effect on the first day of the City’s FY which begins January 1st and ends December 31st.
Property tax rates are comprised of two components - the City's debt service rate, and the maintenance and operation rate (M&O). M&O is calculated by what it costs the city to operate services such as Police and Fire protection, staff costs, etc. The City's debt service rate is calculated by the amount of financing needed to fund major capital projects. These two calculations combined set the property tax rate.