October 16, 2009

City council passes $3 million budget

City council passes $3 million budget
The New Town City Council passed a budget of more than $3 million following an hour of discussion during a special meeting held Wednesday night.
The 2010 budget calls for $3,036,510.53 in expenditures and $3,822,717.70 in revenue, which would turn the city a profit of $786,207.17.
“If you look at the comparisons, you can see what we’re getting and what we’re spending,” said city auditor Tanya Salter. “Years before that looked horrible.”
The budget includes a total tax levied of 194.45 mills, which amounts to $379,375.90. That includes a general fund mill levy of 38.4 mills for $74,916.48, and several others including social security, emergency, recreation and insurance reserve fund for a total of $208,224.40. Debt service funds of 77.33 mills, the city’s share of special assessments and a deficiency fund, bring the total past $379,000.
Salter said the maximum amount of mills are now levied based on taxable evaluation.
The lion’s share of revenue generated for 2010 will include $871,220 for the enterprise fund, a group of funds including residential water charges, water plant sales, hook up charges and meter and waterline sales. A total of $738,206 in expenses are expected.
The total general fund will expect revenues of $720,316.48, according to Salter with expenditures totaling $428,338. The revenue includes oil and gas production revenue of $450,000.
The street impact fund will make $480,000 and spend $323,940, while the garbage fund is expected to generate $418,796 with expenditures of $301,558.

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