$29,838,899 budget proposed for Forest City
Forest City Town Council will receive the proposed budget for fiscal year 2013-14 when the board meets at 6 p.m. Monday at Cool Springs Administrative offices.
The recommended budget is $29,838,899 and is proposed to be balanced with a $.29 per $100 property valuation, said City Manager John Condrey. The recommended tax rate remains the same as last year.
The recommended budget for the General Fund is $9,433,208 up from last year's $8,690,134; Florence Mill Fund, $213,888 (no recommendations last year); Parks and Recreation Fund, $1,935.780, down from last year's $2,138,713; Water & Sewer, $5,449,243; down from $6,806,475; and Electric Fund, $12,806,780; decreased from last year's $13,377,788.
The budget includes a 1.7 percent cost of living raise for employees, and the establishment of a performance based merit program and a comprehensive review of the town's overall pay system.
The town's four sources of revenue are ad valorem taxes, sales taxes, electric utility franchise and waste collection charges.
"The major goal of this budget was to maintain services without increasing property tax rates or user fees," said Condrey. "This budget as recommended accomplished that goal."
Condrey said the recommended capital requests set the stage for allowing the Town to continue to progress forward.
"The addition of these lease purchase capital request items allow the Town to have benefit of certain items while paying a very small interest rate for 36 months," Condrey said.
Among capital request recommendations are management software for camera servicer (upgrade); one ton single 4-wheel drive service truck with utility body, unmarked Criminal Investigations vehicle and one marked replacement vehicle in the police department; a replacement of a brush truck and John Deere Gator;
Also Monday night, council will name appointments to the Board of Planning and Adjustment and Enhanced Recycle Promotion Committee.
Council will receive an audit contract recommendation and will discuss two resolutions.
One resolution is regarding the loan assistance from the Clean Water State Revolving Fund for the Central Business District Sewer System Rehabilitation project. The other resolution is about tax-exempt financing resolution.