The Town and Country Board of Aldermen is examining the city's proposed 2013 fiscal year budget.
City Financial Director Betty Cotner presented the proposed Fiscal Year 2013 budget to aldermen prior to the last board of aldermen meeting on Oct. 22.
Cotner said the city's total budgeted expenditures is $16,504,160 and total revenues is $14,090,700 for FY 2013. Sales tax makes up the majority of city's revenue, with utility taxes second in line and licenses and permit costs coming in third.
However, Cotner said there is a 5.62% percent decrease in general fund revenues from FY 2012's $9,858,650 to $9,304,680 in 2013. There is also a .81 percent increase in general fund expenditures from FY 2012's $9,201,491 to $9,276,300 for 2013. The general fund is the city's operating budget.
The ending general fund balance is almost six times the city's required reserve level for 2013. The city requires the reserves to be 25 percent of budgeted expenditures.
For the fiscal year ending Dec. 31, 2012, the general fund reserve balance is estimated to increase by approximately $657,158.
However, the proposed FY 2013 general fund balance will increase, leaving city with an approximate $28,380 surplus.
There is a one percent salary increase for city employees also included in the FY 2013 proposal.
"I believe our team here is second to none and they ought to be compensated," Mayor Jon Dalton stated.
Total expenditures for the FY 2013 Budget are $16,504,160. That total breaks down as follows:
- $9,276,300 - General Fund
- $3,396,430 - Road Fund
- $2,594,160 - Capital Improvements
- $1,173,770 - Parks and Stormwater Fund
- $63,500 - Safety and Training Fund
Cotner said in 2013 the city will spend approximtley $3.6 million for fire and ambulance services. That cost is up 1.4 percent from 2012, due to the West County EMS and Fire Protection District contract terms.
Cotner said there are some other highlights from the proposed budget.
- $2,265,400 will be spent on the Clayton Road Project
- $209,000 will go toward Longview Farm Park improvements
- $500,000 will be spent on stormwater projects
- Proptery taxes remain at zero percent for 2013
- Town and Country sales tax is budgeted to increase 2.23 percent 2013
A public hearing will be held on the proposed budget before aldermen vote on whether to approve it.