Thursday, June 24, 2010
Lawrenceburg Council Approves Budget Ordinance
Members of the board that governs the City of Lawrenceburg have given initial approval to a budget ordinance that will guide spending for city government during the upcoming fiscal year.
The budget ordinance received unanimous approval during the regular bi-monthly business meeting of the Lawrenceburg Board of Mayor and Council Thursday morning.
Although the budget ordinance was approved, members opted to delay a vote on the ordinance that would establish the 2010-2011 property tax rate. A question arose over the state certified property tax levy, and the councilmen indicated their intent to vote on the tax rate during the next business meeting.
An overview of the budget, approved on the first of two required readings, is as follows:
General Fund
Beginning cash balance $719,619
Bond proceeds $1,771,000
Anticipated Revenues
Property tax $3,048,851
PILOT $1,473,719
Local permits & taxes $4,079,600
State turn-back $834,000
Grants & aid $234,147
Fines, fees & commissions $304,850
Recreation revenues $114,150
Other revenues $87,500
Total Anticipated Rev. $10,176,817
Anticipated Expenditures
Administration $745,040
Board/Council $167,874
City Attorney $34,874
HR/Safety $2,550
Planning and Develop. $73,922
Police $2,766,918
Fire $2,319,334
Emergency Mgmt. $1,194,584
Street $1,348,114
Parks & Rec. $1,174,980
Retirees $364,832
Annual appropriations $1,005,514
Total operating $11,198,534
Total debt expense $885,454
Total expenditures $12,083,988
Ending balance $583,447
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