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Ord 936 Revising the 20-21 budget, adopting the 21-22 budget, pay plan, investment and budgetary policiesTOWN OF WESTLAKE ORDINANCE NO. 936 AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS, REVISING THE BUDGET FOR THE 2020-2021 FISCAL YEAR; ADOPTING THE BUDGET FOR THE TOWN OF WESTLAKE, TEXAS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022 INCLUDING INVESTMENT POLICY, PAY PLAN POLICY, FISCAL AND BUDGETARY POLICIES, RESTRICTED, COMMITTED AND ASSIGNED FUND BALANCES; PROVIDING AUTHORIZATION TO THE TOWN MANGER TO APPROVE APPROPRIATED FUNDS UP TO $50,000; PROVIDING THAT THE BUDGET BE KEPT IN CITY SECRETARY'S OFFICE; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, public notice of a public hearing on the proposed annual budget, stating the date, time, and place and subject matter of the public hearing, was given as required by the laws of the State of Texas; and, WHEREAS, a public hearing was duly held, and all interested persons were given an opportunity to be heard for or against any item therein on September 13, 2021; and, WHEREAS, as required by Texas Local Government Code 102.002, the budget officer has prepared a municipal budget to cover the proposed expenditures of the municipal government for the succeeding year; and, WHEREAS, this budget will raise more revenue from property taxes than last year's budget by an amount of $166,978, a 6.39% increase from last year's budget, and the property tax revenue to be raised from new property added to the tax roll this year is $177,235. WHEREAS, the Town Council finds that the passage of this Ordinance is in the best interest of the citizens of Westlake. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That, all matters stated in the Recitals hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety SECTION 2: That the Town Council hereby adopts the revised budget for the fiscal year beginning October 1, 2020, and ending September 30, 2021, as shown within Exhibit "A." SECTION 3: That the Town Council does hereby approve the proposed Municipal Budget attached in Exhibit "A", adopting the budget for the fiscal year beginning October 1, 2021, and ending September 30, 2022. Ordinance 936 Page 1 of 2 SECTION 4: That the Town Council does hereby adopt the presented Investment Policy, Pay Plan Policy, Fiscal and Budgetary Policies, and the Restricted, Committed and Assigned Fund Balances. SECTION 5: That the Town Council hereby gives the Town Manager authorization to approve any appropriated funds up to the amount of $50,000. SECTION 6: That a copy of the official adopted 2021-2022 budget document shall be kept on file in the office of the Town Secretary. SECTION 7: If any portion of this Ordinance shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Ordinance without the invalid provision. SECTION 8: This Ordinance shall take effect immediately from and after its passage as the law in such case provides. PASSED AND APPROVED ON THIS 13th DAY OF SEPTEMBER, 2021. ATTEST: ToM Wood, Town ecretary APPROVED AS TO FORM: L. S L wr o , Attorney k"' R&& Laurd Wheat, Mayor 4ut4 Amanda DeGan, Town Manager F WEST�9� TEXP� Ordinance 936 Page 2 of 2