The Algood City Council approved a $5.1 million general fund budget Tuesday night that included city employee raises.
City Administrator Keith Morrison said the budget includes a 7 percent pay raise for city employees. The new pay will take effect July 1st at the beginning of the new fiscal year.
“We don’t try to overestimate, we want to be comfortable with our numbers,” Morrison said. “We’re seeing steady growth in sales tax, so we’ve added a little bit there but we didn’t try to push too far, we just want to stay comfortable with what we’re doing.”
Morrison said there are no new positions in the budget. According to the general fund budget, the city estimates some $3.9 million of revenue and some $4.4 million of appropriations.
“The tax rate stayed the same as it has since last year, .3623 per $100, there is no change there,” Morrison said.
Morrison said the city bases its revenue estimates on several years of data.
The water and sewer fund was estimated at a fund balance of $1.9 million. Morrison said the water and sewer have some big projects coming up.
“We’ve got the Old Walton sewer that’s going to get underway here real soon, we’re planning on wrapping up the Green Mountain water project that’s in partnership with Putnam County about August 1st,” Morrison said. “All of those things are in there and we’re hoping to continue moving the city forward.”
Morrison said the water and sewer rates will automatically renew on July 1st.
“The water and sewer rates are on a five-year renewal with an ordinance several years ago,” Morrison said.
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