City expects more revenue with same tax rate
by Dolores Hamilton
Public hearings were held on the 2016-2017 operating budget and a proposal to increase total tax revenues when the Iowa Park City Council met in special session Monday night.
The proposed budget for the General Fund,which contains two percent raises for city employees, has expenditures of $3,567,420 and is down $50,400 from the current year’s budget. “Its a balanced budget, it’s a conservative budget, but it’s a very doable budget,” said City Manager Jerry Flemming. “It does involve a $50,000 decrease from the current year in the General Fund, but we’re going to be able to work with that.”
In the public hearing on a proposal to increase total tax revenue, Flemming said the council had recommended keeping the tax rate at $0.76 per $100 valuation, the same as last year. He explained that it is called a tax revenue increase because it raises $42,900 more revenue than last year.
There were no comments from the public at either hearing.
The second public hearings on the budget and tax revenue increase will be on Sept. 12, and the budget and tax rate will be adopted on Sept. 19.
Council approved the re-plat of Lot 1 in Block 26 of the Original Townsite. The re-plat had been approved by the Planning and Zoning Commission.
The operating budgets for Economic Development (4A) and Community Development (4B) Corporations were approved.
Revenues for the proposed budgets are based on the one-half cent sales tax revenue. The projected revenue this year for each corporation is $187,500.
Council submitted a ballot for the Intergovernmental Risk Pool Board of Trustees. Nominees recommended by the council to serve on the board of trustees include Kyle Jung, Richard Jorgensen, Jim Cox, and Andres Garza.