Finger passes budget
Thursday, July 14, 2011 12:30 pm
The Finger Board of Aldermen passed the 2011-2012 budget on second and final reading at a special called meeting on July 30. They passed it on first reading at another special called meeting on Thursday, June 23.
The city charter requires passage on two readings for any ordinance, including budgets to become final.
The proposed budget projects revenues of $56, 920 and expenditures of $53,375 for the general fund, both the same as the previous year.
Local taxes at $5,800, state taxes of $24,600 and
The $4,200 the budget would spend on salary of its one employee, and $49,175 on other costs are also unchanged from the 2010-2011 budget.
The fund balance, which increased from $11,000 to $12,500 in the previous year, is projected to increase to $15,500 under the proposed budget.
Expenditures for the state street aid fund are also unchanged from the previous year at $20,100 as are revenues at $18,000.
The balance in this fund, which increased from $45,000 to 50,000 in the previous year, is projected to increase to $54,000 under the current budget.