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Krebs council adopts 2024–25 budget; approves 5% raise for city accountant
Summary
The Krebs City Council approved the 2024–25 city budget and a contract increasing accounting services fees 5% (from $1,150 to $1,207.50) for fiscal-year bookkeeping and reconciliations; accountant Mike Kern cautioned the council it cannot spend more than revenues.
The Krebs City Council voted on Aug. 20 to adopt the city’s 2024–25 budget and approved an updated contract for accounting services.
Accountant Mike Kern presented the July financials and asked the council to note one month’s data limitations: July revenues were $165,411.96 against expenditures of $190,114.10, a one-month deficit of $24,702.14. Kern said the deficit included nonrecurring items such as a semiannual insurance payment and police annual program invoices, and reminded the council, "you can’t spend more than you take in." The council discussed projections tied to incoming sales tax from new businesses.
Kern also presented an engagement letter for accounting services. The fee, previously $1,150, was adjusted up 5% to $1,207.50 for the fiscal year to cover bank reconciliations, ledger posting and year-end reporting work. Kern emphasized the engagement is limited to preparing financial statements and does not provide audit assurance. Dan Heathcock moved to approve the contract; Connie Poole seconded and the motion passed (Jason Wagnon, Connie Poole, Dan Heathcock yes).
After adjustments and discussion, the council approved the 2024–25 city budget by motion: Dan Heathcock moved to approve and Jason Wagnon seconded; the motion passed with the three council members present voting yes.
What happens next: staff will finalize budget documents and proceed with implementation; accountant Kern will continue monthly reconciliations and prepare materials for the external auditors.
