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Effingham reviews budget, reserves and $13M Ford Avenue grant application
Summary
City staff reviewed the proposed budget and CIP at a workshop, highlighting a $4.3M city property tax levy, roughly $1M in designated reserves for pensions, major grant-funded projects (including a $13M Ford Avenue grant application and a $3M West Airport Road grant), and a successful motion to close the session.
Effingham city staff presented a budget workshop that outlined general-fund revenues and reserves, capital projects funded by grants and loans, and planned maintenance work, then the council voted to close the session.
City staff opened the discussion with a general-fund revenue review, saying, "Our property tax levy is about $4,300,000," and noting roughly $1,000,000 from the levy is transferred to the police pension and another $1,000,000 to the fire pension. The presentation showed an end-of-year carryover of about $16,000,000 (treasurer's numbers were expected to increase that figure to roughly $17,020,000) and designated reserves earmarked for IMRF and Social Security obligations.
Why it matters: staff said the designated-reserve balance — and conservative contingency assumptions that exclude grant and loan proceeds — will determine whether planned projects proceed or are delayed. Presenter (staff) said contingency was roughly 2% and undesignated reserves…
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