E-Edition

Fayette budget nearly same as last year

Fayette budget nearly same as last year

 

By Kristi Shields

Staff writer

7-23-2020

 

FAYETTE—The Fayette City Council has approved a total town budget calling for expenditures of $242,213 for the fiscal year (FY) 2020-21, which is only $200 less than last year’s budgeted expenditures.

Actual revenue expected to come in for 2019-20 is $248,950, which would result in a surplus of $6,537, while projected revenue for 2020-21 is $245,400 with a projected surplus of $3,187.

The 2020-21 budget shows tax revenue dropping by $5,000, or 9 percent. Most towns around the state are projecting declines in tax revenue because of economic problems growing out of COVID-19.

The biggest revenue source in next year’s budget is $125,600 of “miscellaneous” revenue, which includes rent, concessions and restitution from the theft of city funds that occurred in the late 2000s up to 2019.

General government expenditures are projected to be $46,098 for the 2020-21 budget. The previous year’s was $47,298. These expenses include administration salaries, wages, benefits, equipment, animal control, insurance, etc.

The total amount projected to be spent on highways and public improvements for both last year and this year is $26,900. 

The expenditures for parks, recreation and cemetery increased by $1,000, or 29 percent.

The expenditures show a total amount of transfers of $154,715. Of that, $50,000 will be transferred to capital projects, while the remaining $104,715 is listed as a fund balance.

Town Clerk Kathi Williams explained the money is coming from the payments made back to the city from the fraud a few years back and the city needed to make a slot where that money could go.

No amendments were made to either the total budget or to the general government budget, which covers administration, public safety, highways and public improvements, and parks and recreation.