City of Green Park projected to end 2007 with balance totaling more than $3.5 million

By BURKE WASSON

Green Park will continue to keep a healthy reserve as its administration projects the city will finish 2007 with $3,546,942 as a total ending balance.

That reserve will grow slightly next year, as the city’s Board of Aldermen voted 4-0 Dec. 17 to approve the 2008 budget, which projects a total ending balance between its general and capital-improvements funds of $3,656,442.

Ward 2 Alderman Tim Thuston was absent from the Dec. 17 meeting, and a vacancy left by former Ward 1 Alderman Judy Betlach, who resigned effective Dec. 8, had not been filled.

The Board of Aldermen tentatively has planned a special meeting for 7 p.m. Monday, Jan. 7, to discuss filling that aldermanic vacancy until the April 8 election.

Under the approved 2008 budget, the city expects to collect $1,036,600 in its general fund and spend $927,100 out of that fund.

For 2007, the city’s general fund was projected to collect $1,213,867 in revenue and rack up $1,002,573 in expenditures.

For the city’s capital-improvements fund, the city is budgeted in 2008 to collect $420,000 in revenues and spend $410,000.

In 2007, the capital-improvements fund was projected to end the year with a net loss. The fund was projected to have received revenues totaling $424,808 while expenditures were $464,973.

Projected 2008 revenue in the general fund includes $335,000 in sales-tax revenue, $183,000 in electric utility taxes and $120,000 in interest income.

In 2007, the city was projected to end the year with $1,213,867 collected in revenue in its general fund. The largest components of that revenue included $338,923 in sales-tax revenue, $183,665 in electric utility taxes, $155,665 in federal grants and $144,887 in interest income.

The city has not yet budgeted for any federal grants in 2008.

The 2008 budget also includes a pay raise for all employees who received a minimum evaluation rating of “fully satisfactory.”

As for 2008 general-fund expenditures of $927,100, the three most costly expenses are $233,000 for police services, $165,000 for the city’s residential-waste program with American Eagle and $150,000 for road maintenance, which includes snow and tree removal, striping, signs, pothole patching and right-of-way acquisition.

In 2007, the three largest expenditures in the general fund were $233,000 for police services, $176,000 for specialized engineering services and $165,000 for road maintenance.