Thursday, February 29, 2024

Troy City Council approves budget

| September 1, 2020 7:00 AM

Troy City Council unanimously approved their budget for fiscal year 2021 during an Aug. 26 meeting.

The only significant change in the city’s financial roadmap was a reduction in dollars set aside for road oil in the gas apportionment section.

During a public hearing on the preliminary budget before the meeting, Tracy Rebo, city clerk and treasurer, told councilors that she lowered the amount from $30,000 to $24,000 to keep from overstressing the city’s resources.

“It showed we would be big time in the hole,” she said.

No members of the public came to comment at the hearing.

The city’s proposed budget totals $2.76 million. The $532,209 general fund expenditures budgeted represents a $32,312 increase over fiscal year 2020.

Salaries and wages for the police department make up the largest line item. While councilors anticipate spending $161,718 in this portion of the budget — a $28,771 increase from last year — the city is set to receive $63,000 from a U.S. Department of Justice grant to fund the hiring of a fourth officer.

The largest line item sources of revenue for the city continue to be real estate taxes and entitlement share reimbursement from the state.

During an Aug. 6 meeting when the budget was proposed, councilors highlighted the most noticeable features of the financial plan. Troy residents are likely to see road improvements and museum renovations within the coming year. Councilors said they also anticipate a rate increase in electrical utilities.

According to the budget, the electrical department is set to see a $78,935 shortfall in fiscal year 2021. A significant portion of that money will go toward the cost of a new bucket truck.

During the Aug. 26 hearing, Mayor Dallas Carr told councilors he was talking with engineers about alternative ways to replace a burst pipe near Stein's Market, which crosses U.S. Highway 2 to the Troy Museum. He said new pipes could be laid in a way that would be less intrusive to the highway and the grocery store parking lot. This fix would be more expensive, however, and Carr said the council might have to wait another year to raise the necessary funding. Councilor TJ Boswell recommended looking into grants for the project.

In addition to approving the budget, councilors approved resolutions for levying assessment for street sprinkling and oiling following the preliminary budget hearing. The council also set mills, salaries and wages for fiscal 2021.

When approving the mills for the coming year, Rebo said the city’s mill value dropped $3 from last year. However, since the city has taken on another employee, Troy will be getting more in its mills from permissive health insurance.