The Vermillion City Council approved the first reading of a balanced city budget at its Monday, Sept. 7 meeting.
The proposed 2011 budget's general fund revenues, from sources such as general property taxes, sales tax, the cable TV franchise and other funds, including charges for goods and services, total just over $4.6 million.
Expenditures from the general fund total $5.9 million, exceeding revenues by about $1.3 million. The city balanced the general fund budget with transfers from the electric fund, water fund, sewer fund, liquor fund, and several other sources, including some reserve monies.
Other parts of the budget, that also are balanced, in some cases with the help of tax expenditures and transfers from appropriate funds, include a $1.6 million special revenue fund, a parks improvement fund, a BBB sales tax fund, a stormwater maintenance fund, a debt service fund and a capital projects fund.
"The budget really don't have a lot of new bells and whistles to it," City Manager John Prescott said. It does include $1.4 million to go toward constructing an addition to the city library.
"It is probably the largest single new item in the proposed 2011 budget," he said. "There are some other capital types of items, some debt service payments and other obligations that you have. There is a new item – if we are able to receive a land and water conservation grant, we would match that with some local money and the hope with this money is to develop, in Barstow Park, a permanent ice skating rink and skateboard park.
"In the wintertime, the concrete that would be poured would serve as the liner for the ice skating rink, and then in the summertime, we would install skateboarding equipment," Prescott said, "so it would be a dual use facility. That project is dependent on being able to receive some grant funding for it, and that grant application will be made next February."
The budget also includes dollars to allow the purchase of equipment needed by the police, street and fire and engineering departments.
The general fund includes about $110,000 for general street maintenance, and funds for new library materials, emergency siren maintenance and the updating of equipment for the city radio system.
Outside agencies also will receive allocations from the 2011 budget.
"This is sometimes an area where the council spends a great deal of time listening to the requests from those agencies and determining how they can best fund them," Prescott said, "and the council is providing funding at the same level in 2011 as was provided in the 2010 budget to those agencies and organizations."