The Mayor and Aldermen adopted the Town’s $129.3 million budget at their June 10, 2024, board meeting. The budget reflects a continuation of last year’s budget considerations including investing in public safety, addressing aging infrastructure, recruiting and retaining employees, and strengthening technology needs.
The General Fund, the primary source for Town operations, includes revenue from property taxes, licenses and permits, intergovernmental sources like MLGW, state-shared sales tax, and other charges including fines and fees. Out of the General Fund, the Town invests 46.5% ($37.1 million) into public safety and 24.9% ($19.8 million) into infrastructure maintenance and improvements. The remainder of the fund supports recreation and culture, community services such as technology and financial services, and the Town’s commitment to education.
General Fund Overview:
- Total Proposed Expenditures: $80,460,173
- Total Projected Revenue: $84,584,347
- Property Tax Rate: $1.84; no increase
This year’s Capital Investment Program totals $16.7 million, including significant projects like Phase 4 of the Downtown Drainage project, Harrell Theatre upgrades, the Collierville Library expansion, an ambulance for Fire House 6, two garbage trucks, and the north Rowlett water line.
FY 25 Budget Highlights:
- Funding for a Dispatcher and Jailer.
- $3.3 million paving and street repair and ADA ramps.
- 5% wage increase for all Town employees (full and part-time.)
- Funding for Network Engineer and Town-wide network infrastructure upgrade.
- Continued implementation of the 10-year water/sewer rate schedule (most households will see an average monthly increase of $2.94.)
- Fully funded required pension and OPEB contributions.
The proposed budget ensures continued investment in safety, infrastructure, employee development, and technological enhancements to maintain Collierville's high quality of life.
“The budget reflects the priorities of the Board and the constituents they serve and starts with the must haves: a safe community, resilient infrastructure, exceptional schools, a diverse economy, and well-compensated employees,” said Town Administrator Molly Mehner. “The budget also includes projects and initiatives designed to enhance quality of life in Collierville – robust park systems, an excellent library, design standards, cultural programs, special events, and so on. The FY 25 budget encompasses all those things and then some without raising taxes.”
The FY 2025 budget will go into effect on July 1, 2024.
