During a recent government meeting, officials discussed the proposed budget for the upcoming fiscal year, which totals $43,315,323. The budget reflects a tax increase of 7.79%, translating to an additional cost of approximately $127.40 for homeowners with properties valued at $70,000.

A significant concern raised was the impact of recent litigation losses, particularly a recent assessment loss involving Rite Aid that resulted in an $800,000 reduction in the tax levy. Officials anticipate further losses in this area, which could exacerbate the financial challenges facing the budget.

The budget allocation reveals that salaries and benefits account for 76% of total expenditures, with contractual obligations at 14% and minimal debt service costs. Capital expenditures are limited to 6%, primarily focused on specific projects related to state funding initiatives.

The meeting also highlighted the financial health of the general fund, which began the year with an unassigned fund balance of approximately $7.7 million. However, officials noted a projected shortfall of $2.5 million for 2024, emphasizing the need for careful financial management moving forward. The budget process has involved multiple reviews with department heads to identify potential reductions, but officials indicated that capital projects have been largely excluded from this year's budget considerations.

As the budget process continues, officials remain cautious about revenue expectations, with no anticipated revenue for 2023 and a focus on achieving a breakeven outcome for the current fiscal year.