Mineral council reviews budget gap and looks for $125,000 for town well

The Mineral Town Council reviewed a draft FY27 budget that staff said shows $1,426,000 in recommended revenues and $1,503,584 in proposed expenses, leaving a projected shortfall of $77,584.

Staff presented the totals at the meeting and suggested several cost-cutting options. "Total budget revenues are 1,426,000, and total budget expenses are 1.503584, which means we need to trim $77,584 in expenses in order for this to be a balanced budget," a staff member said.

Council members and staff also flagged a pressing capital need: relining or otherwise repairing a town well, which they estimated would require about $125,000. "We do need to come up with a 125,000 for the well," the chair said, urging the council to identify potential carryover or reallocations; the chair noted some salary savings from a vacant managerial pay period could be applied.

To close the gap, staff recommended reviewing professional-services lines, including a $100,000 placeholder for attorney services and costs for CPA audits. "That is potentially a place that could be cut substantially," the staff member said of the attorney line and added the town may be able to complete two years of audits in the next budget cycle to economize.

Councilors discussed revenue-side improvements as well. Staff told the council that bank-stock revenue (an annual franchise tax on local banks) is expected to be about $80,000 next month and that local sales tax collections have increased, which would improve the town's revenue position.

The council asked staff to prepare price comparisons and options for cutting professional-services and IT-related subscriptions, and to pursue grants where feasible. No final votes on specific cuts or a well-funding plan were taken at the meeting; the chair said staff would return with details and comparisons at a later meeting.