Budget discussed
Only five of seven City Commissioners attended City Manager Paul Preston’s PowerPoint presentation Monday to review the general budget for 2003.
Preston said the budget is a guide to the level of services the city will provide citizens, a reflection of the goals of the commission and the community, an outline of how the funds will be spent for specific projects and ongoing projects and a tool to determine the financial health of the city.
“A lot of effort was put into the budget and it is in your hands to be approved in November,” Preston said to the commission.
If the commission does not approve the budget in November, the deadline then becomes the second meeting in December.
Preston said the budget can simply be described as a status-quo budget.
“Today, I will focus on the general funds. During the meeting on Oct. 20 I will focus on other funds,” Preston said.
The general fund is only 40 percent, or $10,206,950, of the total budget, which amounts to $25,595,970. The biggest revenue in 2004 will come from property taxes.
Preston said the millage rate of 15.450 mils is putting the city in a good financial state.
“We have had the same millage rate since 1999,” Preston said. “More of the millage is used for ongoing projects.”
Preston said they plan to end 2004 with a fund balance of $2.8 million and outstanding bonds totaling $18,643,981.
“We have a lot of leeway to borrow money if needed,” Preston said.
Commissioner Ron Roby said he was amazed with the number of services provided for the community without a cost increase.
“We encourage people to let us know their feelings of the budget,” he said. “We wish we could provide everything and we can’t and it’s up to us to make the decision for the public.”
