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Bardstown council adopts FY25 budget, uses reserves to cover $9.8 million gap
Summary
The Bardstown City Council unanimously adopted Ordinance B2024-06 on June 25, 2024, approving the city's FY25 annual budget (July 1, 2024–June 30, 2025). The budget shows $83.9 million in revenues and $93.7 million in expenditures, with an intended $9,815,000 draw on unrestricted reserves.
City Attorney Audrey Haydon read the summary of Ordinance B2024-06 on June 25, and the City Council voted unanimously to adopt the fiscal year 2025 annual budget. Councilman Roland E. Williams moved to adopt the ordinance; Councilman David Dones seconded and all six council members voted AYE. Mayor J. Richard Heaton declared the ordinance adopted.
The ordinance sets the combined total of all city funds at $83,875,765 in revenues and $93,690,765 in expenditures, requiring a planned use of unrestricted reserves equal to $9,815,000. Key fund-level figures included a General Fund with $16,679,650 in anticipated revenues and $18,579,650 in expenditures (a budgeted shortfall of $1,900,000) and a Combined Utilities Fund showing $63,269,950 in revenues against $70,419,950 in expenditures (a $7,150,000 shortfall). Other fund details in the ordinance include allocations for the Municipal Road Aid Fund, Equipment Fund, Sewer Enhancement Fund, Asset Forfeiture, Cemetery Fund and several reserve and special funds.
The ordinance states it will take effect July 1, 2024, following publication as required by law. City staff presented the budget summary during the meeting and council members did not record amendments at the second reading prior to the vote. The ordinance will be recorded in the city’s ordinance book as required by local procedures.
The budget’s use of unrestricted reserves reflects planned temporary draws to cover projected shortfalls in utilities and the General Fund; the ordinance text indicates these draws as part of the FY25 financial plan rather than a permanent revenue increase. Council members expressed no roll-call dissent; the vote tally was recorded as AYE from Councilmen Joe Buckman, David Dones, Franklin Hibbs IV, Bill Sheckles, Roland E. Williams and Councilwoman Betty Hart.
The next procedural step is publication and recording of the ordinance; the budget takes effect July 1, 2024.
