Budget Hearing Is Tonight
The hearing on the $2,708,434 budget is set for 6:30 at the beginning of the regular monthly meeting. Details of the budget are included in the public notice on page 7 on this week’s Herald and below for the web. All concerned citizens are invited to attend.
Anticipated revenues for the next budget year are expected to be down more than $39,000 from last year while expenditures are up by $52,541.
“Where we’re going to win in this budget is on the expenditure side,” said Mayor Larry Hart. “We know revenues are going to be soft.”
The Mayor emphasized there’ll be no increase in the current millage rate of 37 mills.
Do you have a question about the budget? Please submit it by posting below.
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NOTICE OF PROPOSED
BUDGET AND
PUBLIC HEARING
The City of Water Valley has prepared its 2009-20010 proposed budget. The anticipated millage rate will remain the same at 37.00 mills.
All concerned citizens are invited to attend a public hearing on the proposed 2009-2010 budget to be held in the board room of City Hall in the City of Water Valley, Mississippi on Tuesday, September 1, 2009, 6:30 p.m., at City Hall, 101 Blackmur Drive, Water Valley, Mississippi.
A final decision on the proposed 2009-2010 budget will be made on Wednesday, September 9, 2009, 10 a.m. at City Hall, Water Valley, Mississippi.
MUNICIPAL BUDGET
PROPOSED BUDGET OF ESTIMATED REVENUES AND EXPENDITURES FOR FISCAL YEAR ENDING
SEPTEMBER 30, 2009
GENERAL FUND REVENUES BUDGET AMOUNTS
LICENSE AND PERMITS $12,000
FEDERAL PAYMENTS IN LIEU OF TAX $17,000
STATE SHARED REVENUE $485,000
GRANTS FROM LOCAL REVENUE $34,000
CHARGE FOR SERVICE $303,500
FRANCHISE $75,000
FINES AND FORFEITURES $80,000
OTHER REVENUES $887,220
TOTAL FROM ALL SOURCES OTHER THAN
TAXATION $1,893,720
BALANCE AT BEGINNING OF YEAR
$274,625
TOTAL REVENUES FROM SOURCES OTHER THAN
TAXATION $1,893,720
AMOUNT NECESSARY TO BE
RAISED BY TAX LEVY $540,089
TOTAL AVAILABLE CASH AND ANTICIPATED
REVENUE FROM ALL SOURCES $2,708,434
GENERAL FUND EXPENDITURES
ADMINISTRATION $410,000
PUBLIC SAFETY $1,125,900
PUBLIC WORKS, STREET $530,000
HEALTH AND SANITATION $279,000
PARKS AND RECREATION $179,000
TOTAL GENERAL FUND EXPENDITURES $2,523,900
BALANCE AT END OF YEAR $184,534
TOTAL GENERAL FUND EXPENDITURES
AND YEAR END BALANCE $2,708,434
LIBRARY REVENUE
TRANSFER FROM OTHER FUNDS $10,200
TRANSWER FROM GENERAL $20,000
INTEREST 0
TAX COLLECTIONS $40,701
BALANCE AT BEGINNING OF YEAR $0
TOTAL REVENUE ALL SOURCES $70,901
LIBRARY EXPENDITURES
PERSONNEL SERVICES $70,901
SPECIAL FUND
REVENUE FROM ALL SOURCES $658,554
TOTAL EXPENDITURES AND YEAR
END BALANCE $658,554
SPORTS COMPLEX
REVENUE FROM ALL SOURCES $55,317
TOTAL EXPENDITURES AND YEAR
END BALANCE $55,317
ENTERPRISE FUND
WATER AND SEWER REVENUE
INTEREST $2,000
CHARGES FOR CURRENT SERVICE $900,000
BALANCE AT BEGINNING OF YEAR $179,500
TOTAL ALL SOURCES $1,081,500
EXPENDITURES
TRANSFERS TO OTHER FUNDS $840,000
BALANCE AT END OF YEAR $241,500
TOTAL EXPENDITURES AND YEAR
END BALANCE $1,081,500
WATER AND SEWER
OPERATION AND MAINTENANCE REVENUES
TRANSFERS FROM REVENUE FUND $822,000
BALANCE AT BEGINNING OF YEAR $41,500
TOTAL FROM ALL SOURCES $863,500
EXPENDITURES
TOTAL EXPENDITURES $863,500
END BALANCE
WATER AND SEWER
CONSTRUCTION REVENUES
BALANCE AT THE BEGINNING OF YEAR $111,200
INTEREST $1,700
TRANSFER FROM REVENUE FUND $18,000
TOTAL FROM ALL SOURCES $130,900
EXPENDITURES
CAPITAL OUTLAY $130,900
TOTAL EXPENDITURES $130,900
