The city of Green Park entered 2015 with a budget that projects a general fund deficit of less than $250.

The Board of Aldermen adopted a 2015 budget that projects general fund revenues totaling $1,165,872 with anticipated expenditures of $1,166,115 — a deficit of $243.

City officials project an ending balance of $2,162,722 on Dec. 31. Of that amount, $1,722,722 is unreserved.

For the capital improvements fund, the budget anticipates revenues of $681,532 and expenditures of $720,000 — a deficit of $38,468. Projected revenues include a grant of $231,532 for the reconstruction of Old Green Park Road. The total cost of the project is estimated at $290,000.

With a beginning fund balance of $199,096, city officials project the capital improvements fund will have an ending balance of $160,628 on Dec. 31.

Across both major funds, the budget projects total revenues of $1,847,404 with anticipated expenditures of $1,886,115 — a deficit of $38,711.

Aldermen voted 5-0 on Dec. 19 to approve the 2015 budget. Ward 1 Alderman Carol Hamilton was absent. They discussed the proposed budget during a work session earlier last month.

In approving the 2015 budget, aldermen also adopted an amended 2014 budget to reflect, among other changes, the January 2014 purchase of the building that houses City Hall.

The amended 2014 budget projects general fund revenues of $1,085,100 with anticipated expenditures of $2,076,374 — a deficit of $991,274. With a 2014 beginning balance of $3,154,239 in the general fund, city officials projected an ending balance of $2,162,965 on Dec. 31, 2014. Of that amount, $1,722,965 is unreserved.

The amended 2014 capital improvements fund projects revenues of $440,000 with estimated expenditures of $135,000 — a surplus of $305,000. However, because of a negative beginning balance of $105,904, city officials projected an ending balance of $199,096 on Dec. 31, 2014.

Across both major funds, the amended 2014 budget projects total revenues of $1,525,100 with anticipated expenditures of $2,211,374 — a deficit of $686,274.

The original 2014 budget, adopted by the board in December 2013, projected general fund revenues of $1,080,340 with anticipated expenditures of $1,031,638 — a surplus of $48,702.

The original capital improvements fund budget for 2014 anticipated revenues of $410,000 with projected expenditures of $400,000 — a surplus of $10,000.

Across both major funds, the original 2014 budget projected revenues totaling $1,490,340 with anticipated expenditures of $1,431,638 — a surplus of $58,702.

In January 2014, aldermen voted to approve a resolution authorizing the purchase of the Green Park Professional Building at 11100 Mueller Road from owner Ruby O’Driscoll for $1.39 million.

The city paid an additional $10,000 over the appraised value of $1.39 million as reimbursement for recent upgrades to the building, which contains eight suites. City Hall has been located in the building since the summer of 2004, first in Suites 2 and 3.

In mid-2013, City Hall moved to Suites 5 and 6, nearly double the amount of space.

During the Dec. 4 budget work session, City Administrator/City Clerk Zella Pope noted the original 2014 budget included a $70,574 expenditure for rent for the two suites the City Hall occupies.

“Since we purchased the building, our revenue from the leasing is over $70,000,” she said, adding that two of the building’s suites have yet to be leased.

Mayor Bob Reinagel said the net result is the city’s tenants are paying for the cost of the building.

“So we’re at break-even right now and we still have suites to rent,” he said.

Changes in the amended 2014 budget included a nearly $400,000 down payment for the building, repairs to the parking lot of the building and moving the cost of the Lin Valle Drive reconstruction project to the general fund from the capital improvements fund.

For the 2015 budget, Pope characterized the city’s projected ending balance of $2,162,722 on Dec. 31 as “healthy.”

Of the reserves, she said, “… Those funds are there to use for city expenses. We used some of those funds for the down payment on the building. We’ve used some of those funds for our major projects, and we still have a really good reserve fund balance …”

Reinagel noted that the city’s total reserves declined by roughly $1 million during 2014, but from costs that are one-time expenditures, such as the down payment on the City Hall building.

“… Everything is pretty much the same as it was last year, with the exception of the big expenses, and when we take a look at our building, as they say, it’s already starting to pay for itself,” he said. “And one of the things this sheet (the budget) doesn’t show is our assets. So we’ve now got equity in this building, which means we haven’t taken that entire hit, if you would.

“It’s just in a different category.”