City Manager Mark Westhoff presented the recommended budget to commissioners Monday afternoon, with commissioners taking no action, with the document received and filed, following completion after five budget workshop sessions of the Commission.
Under the proposal, the city's overall mill levy would drop from 46 point three-five-nine mills this year to 45 point zero-zero-two next year. But because property valuations are rising, the city would still collect more tax revenue, about 2 point six-four percent more than this year. Total assessed valuation is projected to climb from roughly 109 million dollars to about 115 million.
The proposed budget totals just over 62 point 3 million dollars, including a general fund of nearly 12 and a half million and a debt service fund of about 1 point 1 million. The Capital Improvement Program is set at just over 31 point 3 million.
The single largest expenditure is a projected collector well water project, estimated at 28 million dollars, which Westhoff told the Commission will only happen if FEMA grant funding can be secured.
That project also carries a policy wrinkle. City policy requires the Capital Improvement Program fund balance stay at a minimum of 5 percent of annual expenses. The well project would push it down to 2 percent on a one-time basis, meaning that by approving the budget, commissioners would also be approving that exemption.
A budget hearing is set for 4:30 on the afternoon of September 8th, as part of that day's regularly scheduled commission meeting.
The final budget must be certified and sent to the County Clerk by October 1st.
