The Vermillion City Council approved the first reading of a balanced city budget at its Monday, Sept. 6 meeting.
The proposed 2012 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 $4.8 million.
Expenditures from the general fund total $6.1 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 $1.58 million special revenue fund, a parks improvement fund, a BBB sales tax fund, a storm water maintenance fund, a debt service fund and a capital projects fund.
Major expenditures from the general fund include about $506,000 for general government, $276,000 for engineering, $432,000 for police administration and nearly $1.2 million for police patrol.
Nearly $675,000 was allocated for the street department for general street maintenance, while funding for the city library, parks and forestry and the swimming pool total approximately $527,000, $266,000 and $106,000 respectively.
�We�re looking at doing some maintenance of the municipal service center to replace a floor that�s ailing, at the Prentis Park ball field there will be some foul poles and outfield fence at the 4-H ball field will be installed, and we have included money for street maintenance, chip sealing, asphalt patching, and crack sealing.�
Approximately $94,000 of the library�s fund allocation will go toward the purchase of new materials.
The city will also be spending $450,000 on the Stanford Street reconstruction project next year, Prescott said, and money has been allocated to the capital projects fund for both the airport and city library.
Next year, the city also has earmarked funds to replace the boiler in the National Guard Armory, make bike path improvements, and construct an ice skating rink/skateboard facility in a portion of Barstow Park.