|Samburg board OK’s budget on first reading |
|Posted: Tuesday, November 15, 2011 9:16 pm |
|By KEVIN BOWDEN |
A quarter of a million dollar city budget was approved on the first of two readings by the Samburg mayor and board of aldermen Monday afternoon.
Samburg’s 2011-12 budget will be up for a second and final reading at noon Nov. 28.
The Samburg board granted preliminary ap-proval of its budget at a five-minute called meeting Monday. Voting for the budget ordinance were Mayor Larry Gene Davis and board members Eddie Fickle, John Vancleave and Woody Cook.
The budget keeps the city’s property tax rate at $1.10 and, for the first time in at least five years, projects a balanced budget with a fund balance at the end of the fiscal year.
“We’re not in the hole this year,” city recorder Mary Swain stated at the end of the meeting.
“We like the sound of that,” Fickle said in response.
The 12-page city budget relies on three sources of income: $64,000 in taxes, $65,083 from intergovernmental revenue and $121,243 from non-tax revenues.
The 2011-12 budget includes the $77,500 in revenue from the sale of two city-owned lots in town and the $75,423 being spent to build a new City Hall building off Highway 22.
There are five categories under the expenditure side of the city budget: $167,700 for general government, $23,000 for public safety, $25,300 for public works, $25,500 for garbage collection and $2,500 for the state street aid fund.
The total revenue amount for the 2011-12 budget is $250,326 and the total expenditures are $244,000, leaving the town with a fund balance of $6,326.
“We’re really pleased with the budget. It does look good,” Davis said Monday afternoon after the meeting.
Also during Monday’s called meeting, the board approved the second and final reading of a new hotel/motel tax ordinance.
Published in The Messenger 11.15.11