Earlville heads toward zero tax increase
EARLVILLE – The Village of Earlville board is proposing a zero percent tax levy increase for the coming fiscal year, and while the budget is not yet final, the board is looking at further ways to cut spending and save the taxpayers some money.
Although the board is still looking at ways to decrease the budget for the coming year, currently, the general fund budget totals $390,998, a decrease of $12,000 in spending from last year. Village Clerk Christian Vischi explained that while the village has not eliminated any programs, they have looked at what programs could be funded at lesser amounts than last year.
Of the total general fund budget, $192,118 will be funded through the tax levy, which shows no change from last year.
Vischi explained that the village allotted $32,000 from the fund balance, the portion of unallocated funds the village has at the end of the year, to the budget. Last year, the board allocated $50,000. “Given the state of the economy, we’re trying to shrink everything,” Vischi said.
Although the village recently passed a $3.4 million water system improvement project, Vischi said the project will not require any major increase to water rents or the tax levy at this time, and that steps are being made to decrease the future impact of the project.
The village will be making their final bond payment on the West Main Street project that was completed in 2003/2004, and additional money has been built into the project to go toward the water reserve capital fund. Vischi explained the funds would be placed in a special savings account and used to ease the tax payer burden in the future. “To make that new bond payment, we’re going to have to have expanded revenues or new revenues in the future, but at this point, there is no major increase to the water rates or the tax levy,” Vischi said.
The village budget may be discussed at the next regular board meeting, at 7 p.m. on March 10 and at a special budget hearing at 6:30 on March 16, both to be held in village offices. Vischi guessed the public hearing on the budget will be held before the end of March.
Although the board is still looking at ways to decrease the budget for the coming year, currently, the general fund budget totals $390,998, a decrease of $12,000 in spending from last year. Village Clerk Christian Vischi explained that while the village has not eliminated any programs, they have looked at what programs could be funded at lesser amounts than last year.
Of the total general fund budget, $192,118 will be funded through the tax levy, which shows no change from last year.
Vischi explained that the village allotted $32,000 from the fund balance, the portion of unallocated funds the village has at the end of the year, to the budget. Last year, the board allocated $50,000. “Given the state of the economy, we’re trying to shrink everything,” Vischi said.
Although the village recently passed a $3.4 million water system improvement project, Vischi said the project will not require any major increase to water rents or the tax levy at this time, and that steps are being made to decrease the future impact of the project.
The village will be making their final bond payment on the West Main Street project that was completed in 2003/2004, and additional money has been built into the project to go toward the water reserve capital fund. Vischi explained the funds would be placed in a special savings account and used to ease the tax payer burden in the future. “To make that new bond payment, we’re going to have to have expanded revenues or new revenues in the future, but at this point, there is no major increase to the water rates or the tax levy,” Vischi said.
The village budget may be discussed at the next regular board meeting, at 7 p.m. on March 10 and at a special budget hearing at 6:30 on March 16, both to be held in village offices. Vischi guessed the public hearing on the budget will be held before the end of March.
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