The new budget year begins July 1. The fiscal year 2012-2013 budget includes expenditures and projected revenues for the city’s operations including police, fire, utilities, personnel, contractual services, purchases, operations and financing.
The board provided for public comments, but there were none at Tuesday’s meeting. There were also no comments from the board.
At the last hearing, last month, City Manger Kenny Smith told the board this budget is very similar to last fiscal year.
“We had already cut our operation cost to the bone and did not have much room left to cut and maintain our standards of operation,” he said.
“The bottom line is that we have a balanced budget, addressing most of our goals, with no decrease in service to our citizens, and without a tax increase or fee or utility increase,” Smith told the city commissioners in May.
Smith previously said this budget has projected total revenues (including all funds) increasing by $1,891,874 from fiscal year 2011-2012 and total expenses increasing only $197,428. He said General Fund expenditures are projected to exceed revenue by $8,219,404 (compared to $7,878,768 in FY11-12, but overall revenues from all funds exceed expenses, budgeted at $96,979,243, with a surplus of $5,281.192.
Of that surplus, Smith said $3,829,632 will go to cash reserves, while the rest is designated for debt service.