Financial Transparency
Financial Summary
The subsequent summary data was taken from the City’s Comprehensive Annual Financial Report Statement of Activities for the fiscal year ended September 30th, 2018. The City operates on an accrual basis of accounting. Revenues are recognized when earned and expenses are recognized at the time the liability is incurred.
The City employs 81 employees, with 70 being Full-Time (FT) employees and 11 being Part-Time (PT) employees.
The City of Palmview’s Municipal Budget for Fiscal Year 2017-2018 provides a complete financial plan of all City funds and activities. Current population estimates are a 17,806.
Revenues
Total revenues from all sources for FY 2018 are $6.1 million, an increase from $5.9 million in FY 2017. This revenue is based on property taxes, sales taxes, and other economic activity.
Expenditures
Total expenditures for all Departments for FY 2018 were $6.1 million, An increase from $5.8 million in FY 2017. These expenditures were based on personnel, operating, and capital costs.
Existing Debt
The City’s 2018 annual debt service was $264,841. The following is a summary of the City’s existing debt:
| Year | Maturity | Description | Interest | Amount |
|---|---|---|---|---|
| 2004 | 2028 | Note | 5.25 | $1,022,958 |
| 2009 | 2028 | 2008A Refunding Bond (Accounts payable, other liabilities) | 7.25 | $924,198 |
| 2014 | 2029 | Notes (Payroll taxes, accounts payable) | 5.5 | $621,391 |
| 2014 | 2017 | Note | 3.99 | $193,362 |
| TOTAL | $2,761,909 |
Municipal Property Tax Rates
Elected Officials
| NAME | TITLE | PLACE | EMAIL ADDRESS |
|---|---|---|---|
| Ricardo Villarreal | Mayor | rmvillarreal1970@gmail.com | |
| Javier Ramirez | Councilman | Place 1 | javier.ramirez5000@gmail.com |
| Jose Luis Perez | Mayor Pro Tem | Place 2 | jlperez@cityofpalmview.us |
| Alexandra Flores | Councilwoman | Place 3 | aflores@cityofpalmview.us |
| Arlando Nacianceno | Councilman | Place 4 | anacianceno@cityofpalmview.us |
| Joel Garcia | Councilman | Place 5 | jgarcia1@cityofpalmview.us |