Green Park 2016 budget projects $17,600 surplus

Board of Aldermen OKs amended budget for past year with total surplus of $459,040

Green Park 2016 budget projects $17,600 surplus

By Mike Anthony

The city of Green Park began 2016 with a budget that projected a general fund surplus of more than $17,600.

The Board of Aldermen adopted a 2016 budget that projects general fund revenues totaling $1,280,586 with anticipated expenditures of $1,262,900 — a surplus of $17,686.

City officials project a general fund balance of $2,819,126 on Dec. 31. Of that amount, $2,379,126 is unreserved.

For the capital improvement fund, the 2016 budget anticipates revenues of $450,000 and expenditures of $250,000 — a surplus of $200,000.

With a beginning fund balance of $548,278, city officials project the capital improvements fund will have an ending balance of $748,278 on Dec. 31.

Across both major funds, the 2016 budget projects total revenues of $1,730,586 with anticipated expenditures of $1,512,900 — a surplus of $217,686.

Aldermen voted unanimously Dec. 21 to approve the 2016 budget. They discussed the proposed budget during a Nov. 30 work session.

In approving the 2016 budget, aldermen also adopted an amended 2015 budget that reflects projected general fund revenues of $1,280,651 with anticipated expenditures of $1,159,200 — a surplus of $121,451.

With a 2015 beginning fund balance of $2,660,016 in the general fund, city officials projected an ending fund balance of $2,781,467 on Dec. 31, 2014. Of that amount, $2,341,467 is unreserved.

The amended 2015 capital improvements fund anticipated revenues of $547,589 — including a $97,589 grant — with projected expenditures of $210,000 — a surplus of $337,589.

With a beginning balance of $210,689 in the capital improvement fund, an ending fund balance of $548,278 was projected on Dec. 31, 2014.

Across both major funds, the amended 2015 budget projected total revenues of $1,828,240 with anticipated expenditures of $1,369,200 — a surplus of $459,040.

The original 2015 budget, adopted by aldermen in December 2014, projected general fund revenues of $1,165,872 with anticipated expenditures of $1,157,000 — a surplus of $8,872.

The original capital improvement budget for 2015 anticipated revenues of $681,532 — including grant funds totaling $231,532 — with projected expenditures of $720,000 — a deficit of $38,468.

Across both major funds, the original 2015 budget projected revenues totaling $1,847,404 with anticipated expenditures of $1,877,000 — a deficit of $29,596.

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 work session, Ward 1 Alderman Carol Hamilton asked about the purchase of the building, noting principal and interest on the mortgage for the building totaled $79,200, while insurance for the building brought the total cost to $83,200.

Revenue from tenants leasing space at City Hall during 2015 totaled $70,186, but City Administrator/City Clerk Zella Pope noted that before the city purchased the building, it was paying roughly $6,000 per month in rent.

Hamilton said, “… We’re not doing bad at all.”

Mayor Bob Reinagel agreed, saying, “Yeah, we’re way ahead. The ROI (return on investment) on that, buying the building, was immediate.”

Of the city’s financial situation, the mayor later noted, “Unlike a lot of other cities, we’re in the black and we’re going to stay in the black.”