The Algood City Council approved a nearly $6 million budget for the new fiscal year Tuesday.
City Administrator Keith Morrison said the budget includes estimated revenues of $4.8 million against $5.9 million in expenditures. Morrison said the city expects to maintain a fund balance of approximately $5.9 million while funding several capital projects and employee raises.
“It does include some park enhancements still, employee raises for two dollars and fifty cents an hour, and is there any other questions that you all have?” Morrison said. “We will not set the tax rate, this assumes current tax collection to remain stable and the same as last year, because we have not received our certified tax rate, which we will get in the coming months and we will approve that probably by September is what I’m guessing.”
Morrison said the spending plan includes a $500,000 match for a $1 million Community Development Block Grant intended for park improvements. Morrison said the budget also allocates funds for new police cars and a leaf vacuum truck for the Public Works Department.
“Good budget, we’re spending a lot, we’re, you know, the focus is, you know, to have some expenditures for park, but we also have to weigh that with things like, you know, all the things that Mr. Morrison just went over,” Vice Mayor Luke Hill said. “Of course, this is just a budget and this is going to be, you know, our guiding light for the next year of how we live, how we spend, appreciate all of those that have had been working on this budget, I know it’s a tough endeavor and we appreciate your effort.”
Morrison said the city recently adjusted its current 2026 fiscal year budget to pull forward the purchase of a new garbage truck and two used fire engines. Morrison said the city remains in good financial shape despite those immediate capital outlays.