Dear Collierville Resident
While many municipalities around the county are still rebounding from the effects of the downturn in the economy, Collierville is starting to see the signs of positive growth and recovery in our local economy. After three years of making significant cuts to the Town’s budget, along with adopting a “live within our means” fiscal strategy I am confident we have successfully weathered the worst economic recession this country has experienced in decades.
Over the past twelve months, we have seen positive growth in two areas that together make up over two thirds of our General Fund Revenue. Our data indicates that our revenue from local option sales tax collections will increase about eight percent over FY2011. Additionally, we are experiencing a steady increase in new housing permits, and we are projecting 120 new home starts for the year. We also have approvals for new subdivisions that will begin construction in the near future which will further stimulate the local real estate market and meet the demand for building lot capacity.
Our FY 2012-13 total budget is 64,775,578 which is an increase of four percent over our FY2011-12 total budget. A significant portion of this increase is funding to provide equipment and personnel to serve the residents of the Collierville reserve area who were annexed by the Town in December 2011. Additional increases to the overall budget can be attributed to the increase in our costs to the Town for fuel, utilities, construction materials, healthcare and personnel. In light of the fact that our overall budget has increased, we held the line on departmental operating expenses and in fact overall operating expense is less than FY2011-12. While developing the FY2012-2013 budget, we stayed focused on the issues and opportunities that are critical to our core mission. The Town’s FY 2012-13 Capital Investment Program (CIP) budget has increased nearly $5 million over FY2011-12. This CIP budget has an emphasis on rebuilding our fleet of equipment needed to provide safe and reliable service, improving existing infrastructure, drainage improvement projects, sewer system improvements, parks improvements and adding new infrastructure to be prepared for future demand.
During the past year we have been engaged in one of the most critical issues to ever face this community, the prospect of establishing a municipal school district. The Board of Mayor and Aldermen recognizes that the schools are a valued asset of this community and that many people make a choice to live here because of the outstanding schools. The coming year will be critical for us, and we plan to devote the time and resources necessary to insure that our children have the best k-12 education that the citizens of Collierville expect and our students deserve.
What we accomplish will be the work product of some of the best municipal employees in the country. I want to extend my thanks and gratitude to our employees for their tireless dedication to providing excellent service to our residents and helping make Collierville one of the most desirable communities in the Mid-South in which to live and work.
Committed to Collierville
Mayor Stan Joyner