Proposed 2021-2022 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 2021-2022 Budget is based on Tax Year 2021 expected revenue. The Town of Little Elm contracts with the Denton County Tax Assessor to calculate the Town's tax rates. For Fiscal Year 2021-2022, the following rates were calculated used by the Town to produce its proposed budget. For a complete explanation of how the rates were calculated, please click here.

View the FY 2021-2022 Proposed Budget here

View the Notice of Proposed Tax Rate here

2021 No-New-Revenue Rate

$0.631493/$100

2021 Maintenance & Operation No-New-Revenue Tax Rate

$0.506314/$100

2021 Maintenance & Operation Voter-Approval Tax Rate

$0.524035/$100

2021 Debt Service Rate

$0.119913/$100

2021 Voter-Approval Rate

$0.643948/$100

2021 Proposed Tax Rate

$0.643948/$100


The estimated unencumbered fund balances for FY2021 are in compliance with the Town's adopted financial standards and are as follows:

Type of Property Tax Fund                                                        Fund Balance

General Fund                                                                                $28,820,231

Special Revenue Funds                                                                  $4,736,605

General Debt Service Fund                                                               $809,544

Governmental Capital Projects Funds                                          $18,624,676

Enterprise Operating Funds                                                          $17,532,619

Enterprise Capital Projects Funds                                                 $13,154,944

Internal Service Funds                                                                     $4,203,630

The Town of Little Elm will pay $7,131,446 in debt service during the Fiscal Year 2021-2022. 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 $4.5M130,00041,6501,000172,650
2012 GO REF BONDS- $6.985M310,00014,4001,000325,400
G0 REF SERIES 2012A190,00025,2891,000261,289
CO SERIES 2013-$6M285,000122,4001,000408,400
CO SERIES 2013-$3M145,00071,5501,000217,550
2015 DO $9.66M425,000214,9381,000640,938
2016 REF GO-$6.72M630,000115,1191,000746,119
2018 CO $15.46M460,000432,3571,000893,357
2019 REF GO655,000205,8001,000861,800
2019 CO $ PRIN240,000213,3501,000454,350
2020 GO REF-$5.72M535,00054,0541,000590,054
2020 CO-$4.085M160,00092,4001,000253,400
2021 CO PRIN-$15M560,000400,0001,000961,000
TIF AGREEMENTS           0           0                     390,139390,139


The anticipated collection rate for Fiscal Year 2021-2022 is 100 percent, and the amount for debt service to be collected by taxes for Fiscal Year has been decreased by $470,664 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 that can be found here.

The Town's Annual Budget can be found here, and the most recent Comprehensive Annual Financial Report is found here.

 


FY 2020FY 2021FY 2022 ProposedAmount Change% Change

Tax Rate (per $100)

0.6499
.0.6497020.643948
-0.005754
-0.89%

Annual Recurring Budget Amount

 $76,017,592
 $81,815,102
    $85,704,178
$3,889,0764.75%

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

0.4958740.520.5240350.0040350.78%

Property Tax Revenue Budgeted for Maintenance & Operation

$21,360,765$22,966,506$24,393,411$1,426,9056.21%

Property Tax Rate for Debt Service (per $100)

0.1540260.1297020.119913-0.009789-7.55%

Property Tax Revenue Budgeted for Debt Service

$6,632,112$5,718,514$5,500,782(217,732)-3.81%