Taxes, utilities, payroll could rise in Magnolia
By John Surratt | Enterprise-Journal
Posted: 09/05/08 - 11:58:54 am CDT
Magnolia aldermen are proposing a $2.96 million budget for the city’s 2008-09 fiscal year — a $1.15 million increase over the city’s current budget — with a projected $69,374 fund balance.
The budget, which was discussed during a Thursday work session, does not include a millage increase. The city’s current millage is 32 mills and was increased last year.
However, with higher assessments, property owners will pay more in taxes, budget figures show. The projected budget has $765,213 in property tax revenue, up from the $599,352 taken in from property taxes for the current fiscal year.
Aldermen also propose a $2.35 million utility budget, which is $1.127 million more than the current budget, and projects a $100,365 fund balance. The total includes a rate increase approved by the aldermen in June. Aldermen voted to tie annual utility rate increases to the consumer price index each June.
A public hearing on the budgets is 5:30 p.m. Monday at Magnolia City Hall.
Besides the projected fund balances, each budget proposes a 3 percent pay raise, but aldermen did not say if or when they would approve the raises.
Also included is a total of $60,000 for a new tractor with a mower attachment.
The largest expenses in both budgets are salaries, with $691,544 going for salaries in the general fund budget, and $145,873 in utilities.
A total of $1.335 million in grant revenue is projected for the utilities budget, and includes money for the city’s Great Southern water tower project and the Love’s Travel Center sewer line project.
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Bay Street Resident wrote on Sep 5, 2008 3:49 PM: