Annual Report FINAL-2017 - Page 6



FINANCIAL
HIGHLIGHTS
The City of Taylor is dedicated to best accounting practices for municipalities and financial
transparency. Taylor continues to receive recognition for its solid financial reporting each year.
Projected Taxable Values
$1.05 Billion
Valuation of property in the City
of Taylor showed a 7.6% increase
during FY 2016-2017. Projections
for FY 2017-2018 show 8.6%.
Taylor reduced the FY
2017-2018 tax rate to
$0.798, the lowest in
eight years.
Tax Rate in FY 2016-2017
was $0.8038.
Sales Tax Income
FY 2017-2018 Estimate
$3.134 Million

+5.4%
FY 2016-2017 Actual
$2.964 Million
6
Annual Report-2017
Budget Highlights
For the ninth year in a row, the City of
Taylor Finance Department was awarded
a Certificate of Achievement for Excellence
in Financial Reporting, the highest form of
recognition in governmental accounting and
financial reporting, having satisfied the high
standards of the Government Finance
Officers Assocation.
2017 was the third of five years of
implementation of the Water and Sewer
Stabilization Program for a combined 9.9%
to provide for capital improvements of both
utility systems.
The City continued a 5-year Community
Investment Program (CIP) for Streets, Water/
Sewer, Drainage, Facilities, Airport, Parks and
Downtown by fund, by year.
A citywide phone system was upgraded for
improved efficiency and productivity, at a cost
of $113,760, which included an annual cost
reduction of $4,308.
Funds were expended for vehicle replacement
totaling $754,000, including cash funding of
$400,000 for two new Utility vehicles.
A 3% raise for city employees was approved in
September 2017, effective on January 1, 2018.
Total Debt Obligation = $25,600,149
Secured by property taxes

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