Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Economy Town Council adopts $65,950 2026 budget, expects roughly $24,000 in levy revenue after credit
Summary
The Economy Town Council adopted a $65,950 budget for 2026 on Nov. 12, approving projected levy revenue of $34,859 that the clerk said will be reduced by a $9,030 tax-cap credit to roughly $24,000. Council also reviewed account balances, signed vouchers and discussed an upcoming state audit.
The Economy Town Council adopted its 2026 budget at a Nov. 12 meeting in the Perry Township Fire Department meeting room, approving a total allocation of $65,950. The clerk told the board the town’s expected tax-levy revenue for the budget year is $34,859 but that a $9,030 tax-cap credit will reduce the amount the town receives to about $24,000.
Council members present listed in the minutes were Shirley Williams, Wendy, Jeff Jackson and Barb Lamb Urban. Jeff Jackson moved to approve the budget and Shirley Williams seconded; the motion passed according to the record. The clerk read the minutes and accounts that were then accepted by vote.
The clerk also reported account balances and signing of vouchers. The minutes show a checking account balance in the record and a certificate of deposit balance; vouchers for listed check numbers were signed by the council during the meeting.
The board discussed the practical implications of an audit that began earlier in the day. The clerk said State Board of Accounts staff reviewed records from 2021 through 2024 and estimated the town’s share of audit-related charges at roughly $3,500 based on 50 hours of work; the clerk also referenced that a previous complete audit had cost more than $10,000. The council noted that audit costs were not specifically budgeted and that staff would follow up with the auditor on billing details.
The council did not amend the newly adopted budget at the meeting. Next steps noted in the minutes include following up on audit invoices and keeping routine financial records available for the board’s next meeting.
