Calvert City Councilmen on Wednesday voted to adopt the 2017-18 fiscal year budget during a special-called meeting at Calvert City Hall. The measure, which included expenditures and revenues for the city’s general fund and water and sewer department, passed in a 4-0; councilmen Jeremy Rowe and Kevin Stokes were absent for the vote.
The budget ordinance will take effect July 1.
According to the budget, the city was expected to have $9,851,272 of total resources available in the general fund. That total included a $6 million carry forward balance and estimated revenue streams totaling $3,851,272. Revenues included $1.3 million in payroll taxes and more than $1.2 million in licenses and permits. Property taxes accounted for $1,028,500 of general fund revenues.
Expenditures from the general fund were estimated at $3,924,760, about $73,488 over revenue. Anticipated tranfers of $100,000 brought that total to $173,488, leaving the expected general fund balance at $5,826,512 at the end of the fiscal year, June 30, 2018.
Appropriations from the general fund include $1,037,550 in police department funding; $222,690 for the city’s fire department; $869,800 to the city’s street department; $321,550 to sanitation department; $501,270 to the city’s parks department; and general government appropriations were estimated at $824,650.
The city carried forward a capital project fund balance of $2,595,046, of which the city expected to pull $1,494,000. Total capital project fund balance was estimated at $1,101,046 at the end of the fiscal year.
The city projected an ending balance of $698,275 in special project revenues for the fiscal year, after allotments to police and fire department allocations of $130,200 combined.
For the full general fund budget breakdown, click here.
Calvert City municipal water and sewer budget estimates projected an ending balance of $844,451 as of June 30, 2018. Fund balance going into the year was about $1.3 million, with total estimated revenues at $3,409,050. Projected expenditures for the year came to about $3,044,559, which included more than $1.6 million in operating costs; depreciation accounted for $480,000 of that total, and some $946,333 toward capital and debt retirement.
See the full water and sewer budget breakdown here.