City Finances

The City of Sherman's fiscal year begins on October 1 and ends on September 30. The City Council controls the finances of the city through the annual budget. Developed through a rigorous process and adopted via an ordinance, the budget provides appropriations which are the permission to spend public funds.

Notice of Public Hearing and Vote on the Fiscal Year 2021-2022 Budget

The City of Sherman, Texas will hold a public hearing on the adoption of a budget for the Fiscal Year ending September 30, 2022.  This budget will raise more total property taxes than last year's budget by $1,355,000 and 7.6% and, of that amount, $509,000 is tax revenue to be raised from new property added to the roll this year. 

After the hearing, the City Council will vote on the adoption of the budget.

A public hearing will be held on August 2, 2021 and August 16, 2021, and vote will be held on Monday, August 16, 2021 at 5:00 p.m. at Sherman City Hall, 220 West Mulberry Street, Sherman, Texas 75090.

Members of the public are encouraged to attend the hearing and express their views.

2020-2021 Budget

The City Council adopted the 2020-2021 Budget at the August 17, 2020 City Council meeting.  The budget of $97.0 million includes funding for one-time, across-the-board compensation, a 4.5% increase for police officers, planning for a new police headquarters, finishing projects funded with debt in prior years, a Utility Master Plan, three new utility positions, $3.1 million in fleet and equipment, $18.9 million in utility projects, and $8.2 million in street projects.  This budget is about $2.2 million more than the original FY 2020 budget due to an increase in capital expenses and operations.  Fund balance in the General, Solid Waste and Utility Funds are at targeted levels.

Prior Annual Budgets