Yorktown City Council covered a lot of business during the regular council meeting held on Aug. 10 with some satisfactory results for the citizens of Yorktown.
Donald Allman, CPA, presented the city audit noting that Yorktown is in the black for fiscal year ending Sept. 30, 2014.
Yorktown mayor Rene Hernandez said, “It is always good to be in the black.”
Yorktown saw a total increase of five percent in net assets of $4,564,235 in 2013 to $4,810,858 in 2014. As a result, the city manager, Robert Mendez, made a proposal to stay with the effective rate of the city’s property tax for the 2015-16 fiscal year. Council agreed.
Preliminary indications see the effective tax rate to be slightly over 61¢ per $100 valuation. About half of that will be to retire bond debt.
Read more in this week's edition of Yorktown News-View