Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Collegedale presents proposed budget with gap under $1 million, plans no immediate property tax increase
Summary
At a special budget workshop the Collegedale City staff presented a proposed fiscal-year budget that holds the current interim property tax rate, shows about $15.0 million in projected general-fund revenue and $16.3 million in projected general-fund expenditures, and anticipates a roughly $800,000–$900,000 deficit to be covered from fund balance.
Staff member called the special budget workshop to order and presented the proposed fiscal-year budget, saying, "You've all had a chance to review the budget ... we can go through." The presentation said the city will hold the interim property tax rate at $1.55 and will not ask for a tax increase this year; the rate will be finalized when the certified rate is released later in the summer.
The budget documents presented project general-fund revenues of $15,003,400 and expenditures of $16,303,600. "So we're projecting, a deficit ... somewhere just around $800,000 to $900,000," the staff member said, and noted the city expects to use fund balance to cover the shortfall. The presenter also said the administration intends to revise several line items before the public hearing to reflect updated bid and contract numbers.
Why this matters: the proposed budget…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
