The Bonne Terre City Council met in a special session Monday evening to discuss and approve two ordinances concerning the past year’s budget and next year’s plan.
The first ordinance addressed amended the 2015-2016 budget. Thurman, Shinn & Company representative John Boyd said the adjustments to the current budget are done to reflect where they are and where they think they are going to be by the end of the month, which also ends the fiscal year.
Making fiscal year-end adjustments to the current budget is a standard practice for municipalities to better reflect how the year has unfolded.
“I am going to go through the summery,” said Boyd. “Under our total general fund, the original budget for revenue (was) $2,138,000 and we are amending that to $2,081,000, for downward adjustment of revenue for $57,000.”
Boyd said on the expense side they are amending down $56,000. So the adjustment between the two is about $100,000, which gives them a total net at the end of the year of $46,430.
“On the water fund we are going from $4.7 million down to $2.5 million for an adjustment of $2.2 million in revenue,” said Boyd. “But at the same time on our expense side we are reducing that down to $2.3 million. So we are actually coming out ahead by $150,000.”
Boyd went on to sewer fund, saying they are taking it from $1,970,000 up to $1,991,000, of roughly $21,000. “On our expense side, we are reducing our expenses of $4,900, so we have an adjustment there of about $26,000.”
He added on capital improvement funds they were at $214,000 and increased the revenue to $224,000, so they have an upward adjustment of $10,000. Boyd said the expenses are being brought down by $190,000, so they are coming out $200,000 better than the last budget.
“(The) Transportation fund is going from $946,000 to $879,000, so we reduced our revenue by $67,000 and we are also reducing our expenses by $263,000, so we are coming out $200,000 better there,” explained Boyd. “Senior center was $222,000 in revenue and now we are almost up to $240,000, so we increased by $18,000 there and we have reduced our expenses by $24,000. So we are coming out about $42,000 better …”
Boyd said in the TIF fund, they are going from $173,000 of revenue to $151,000, bringing it down $22,000, and on the expense side they reduced by $35,000.
“That is where we are at with the amended budget,” said Boyd. “This is just purely to (adjust) the budget to cover the income and expenses we currently are showing. We only have a few days left and we are not allowed to overspend, so it’s to make our budget match the final results of where we are.”
The council approved the amended budget and then briefly discussed the new budget for the 2016-17 fiscal year, which had been discussed during a previous meeting as well.
The council approved the new year’s budget.
Renee Bronaugh is a reporter for the Daily Journal and can be reached at 573-518-3617 or firstname.lastname@example.org