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Budget

South Padre Island FY 2023‑24 Budget Overview

original file: 2023-24 GFOA Budget Submittal
South Padre Island

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What is this?

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.

Key figures

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
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