Wednesday, December 18, 2013
After an uneventful public hearing the Town Council unanimously passed the 2014 Town budget at its meeting last Wednesday.
The predicted revenues, and therefore expenditures, are $26,716, 209.
Town Finance Director Belinda Harper summarized the budget during the public hearing at the meeting. She highlighted the budget contains no fee or millage increases, a 3 percent cost of living salary increase for all employees, and funds to hire five new full time employees.
The largest general fund revenue is an estimated $10,570,000 from property taxes for homes and vehicles. The next largest is $6.7 million from licenses: $2,673,519 from business licenses; $15,000 from business license penalties; $3,850,000 from business license insurance; and $200,000 from telephone licenses and fees.
Accommodations Taxes revenues are estimated at $65,000, and Hospitality Tax is estimated at $1.3 million.
The largest predicted expenditures are $6,268,011 and $6,190,170 for the police and fire departments, respectively. The totals include personnel costs such as wages.
No members of the public addressed Council during the public hearing.
Council later gave second and final reading of an ordinance to adopt the budget. They voted unanimously.
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