Troy closes in on preliminary budget

The Troy City Council is ready to make a final vote on the preliminary budget.

Troy property owners are projected to have a very slight increase in taxes. According to City Clerk and Treasurer Tracy Rebo, in total, all Troy residents will contribute to pay $400 in taxes for the 2016-2017 fiscal year. Rebo stressed that these taxes are not for each property owner, but the total tax for the entire city.

The total projected revenue for the fiscal year is $2,478,343, and the total projected expenses equal $2,551,631. This dollar amount will only be reached if they spend the total dollar amount for each department. Rebo noted that they never spend the entire amount, rather the number is the grand total of the money put aside for each department.

According to the preliminary budget report for the year 2016-2017, the projected general fund ending balance is $83,462.81, after the $600,454 in expenditures and the $585,023 in revenue, the general fund will lower from the $98,893.81.

The final budget hearing will be Sept. 7 at 6 p.m.

Reporter Bethany Rolfson may be reached at 293-4124 or by email at Reporter@TheWesternNews.com.