Work on the city of Farmington budget is approximately “95 percent done”, that according to City Administrator Greg Beavers.
The city administrator gave an update on the work for the $40 million budget during the Farmington City Council meeting late last week.
“We’ve gone through all the major revenue streams and (have) a good forecast on those,” Beavers said after the meeting. “We’ve looked at utility rates and capital requirements for the city. We have our personnel cost established going into the next year.
“We are picking up the laggers … figuring out what projects and what percentage of (certain) projects aren’t going to be completed on a certain date, what payments aren’t going to be due and try to forecast those.
“When you have a $45- $50 million a year business with as much going on at one time as we do at any one point in time … trying to say what happens and what’s going to be happening on a certain date is a little difficult to forecast and predict but (finance director) Michelle Daniel does an amazing job in tracking those things for us and giving us the management information that we need to make the decisions we need to give to the voters.”
Last year’s budget was around $50 million due to the spending down of the money borrowed for the construction of the new library.
Beavers said all-in-all, the fiscal 2016 budget is a “good budget.” There are improvements factored into the budget, including water, sewer and road projects necessary for the city to “sustain life around town.”
He also sees a positive forecast for the economy in the city due to the addition of retailers.
Cato’s Fashion is preparing to open next door to Schnucks and Beavers said representatives from Menards said the project is out for bids, with the Wisconsin-based retailer hoping to begin construction within the next month.
In addition, the council approved a Planned Unit Development for a 53,000-square foot building to house a national retailer. A press release announcing the retailer is expected in coming days.
“(The project) should start construction this fall, probably within the next 30 to 45 days,” Beavers said.
Construction could also begin in the next month on Menards. Beavers reported representatives with the Wisconsin-based home improvement retailer reported bids were submitted for the project.
“(Menards representatives) talked like they were going to expedite the construction cycle to get ahead of winter (weather). So, after this wait time, (construction) will happen pretty fast,” Beavers told the council during his report.
The council approved the appointment of members to the Maple Valley Plaza Community Improvement District – the district where the new home improvement retailer wll be located
Shawnna Robinson is the managing editor of the Farmington Press and can be reached at 573-581-3628 or firstname.lastname@example.org