The City of South Padre Island’s FY 2023‑24 Budget Book outlines the city’s projected revenues, expenditures, and major projects for the fiscal year that begins on October 1 2022. It contains a message from the City Manager, a review of Texas and local economic conditions, detailed fund and department budgets, tax revenue forecasts, and a capital‑improvement plan. Key highlights include a 2.96 % decline in hotel‑occupancy tax receipts, a 5.96 % increase in sales‑tax revenue, an assessed property base of about $4.2 billion, and a $10,000 reimbursement for the Christmas parade. The budget also notes state‑wide trends such as 3.1 % job growth, a 4.1 % unemployment rate, and an average Texas hourly wage of $31.45.
| Fiscal Year | FY 2023‑24 (starting Oct 1 2022) |
| GFOA Distinguished Budget Presentation Award | 12th consecutive year |
| Texas job growth | 3.1 % (vs. 1.7 % national) |
| Texas unemployment rate | 4.1 % (Rio Grande Valley 5.7 %) |
| Average hourly earnings (Texas, Aug 2023) | $31.45 |
| Hotel occupancy tax change | -2.96 % (2022‑23 vs 2021‑22) |
| Sales tax growth | +5.96 % (2022‑23) |
| Assessed property values | ≈ $4.2 billion |