2025 Proposed Final Budget

Here is a summary of changes…

Changed references to “Tentative” to “Proposed Final” throughout.

Fixed years issue on the first summary page.

Added column for “2024-2025 Prop. Final” in the Budget Summary sheet.

Fixed a misspelling of “Capital” above A-5112-002-00.

Made the following changes requested by Trustees that affected A-1090-000-00 (“Real Property Tax Interest & Penalty”):

    A-3120-001-00 +$1,936 (“Police PS” to correct wage error)

    A-6410-004-00 +$2,000 (“Publicity PS” to add $1,000 for Farmers’ Market support & $1,000 for potential HDC signs)

    A-7010-004-00 +$2,600 (“Fund for the Arts PS” to offset costs for two arts programs recognized subsequent to Tent. Budget)

    A-8510-004-00 +$300 (“Community Beautification PS” for a $1,000 total to the Garden Club)

    A-9030-008-00 +$148 (“Social Security...EB” to account for FICA difference for  wage error)

    A-9710-007-00 -$1,500 (“Debt Service - Interest” to account for USDA interest rate drop for 78 Thompson St. financing)

    Total: +$5,483 in Expenses (the Police PS and FICA changes involved decimal places that made the amount appear $1 less than the calculation would show)

Made the following change to A-1090-000-00 (“Real Property Tax Interest & Penalty”): +$5,483 to add revenue to balance above expenses.

Added another 4.75% to A-2140-000-00 (“Metered Water Sales”) to total an 8% increase, as recommended by the Revenue Advisory Committee for Year 1 changes for Water Tower issues — this added $47,440 to the revenue line.

Added a separate line A-0962-009-00 for “Budgetary Provisions for Other Uses” — labeling each with a parenthetical for “Parks” and “Water Towers” to show the intent for any amounts that become part of the General Fund’s Fund Balance should a Reserve Account be created for such purposes, and added $47,440 to the expense line for “Water Towers” to offset the revenue increase discussed above. This amount is intended solely for debt service, maintenance, and/or application to Reserve Account for the Water Towers.

Added another 3.00% to G-2120-000-00 (“Sewer Rents”) to total an 8% increase. This added $7,500 to the revenue line.

Added a new line G-1990-004-00 (“Contingency (Sewer)”) to offset the added revenue with an expense line. It is anticipated that this amount would be unused and would fall to the Sewer Fund’s Fund Balance, but it is being placed there to ensure stability in the Sewer Fund’s operation in FY25.