The Columbus City Council finalized a $22.98 million budget for fiscal year 2012 on Wednesday.
The budget matches expected revenue, and no funds are expected to be pulled from available cash, Chief Financial Officer Mike Bernsen said. The budget, which includes 3-percent raises for all city employees, is around $4 million less than the fiscal year 2011 budget, which the council set at around $26.9 million.
“We”re going to about break even (on revenue and expenditures for 2011),” Bernsen said.
According to Bernsen, the cuts mostly came from road paving taken out of the general fund budget and put into a construction fund and reducing overtime hours, appropriations to local agencies, special projects and equipment purchases.
The council also unanimously approved the appropriations budget at around $1.23 million, which is above the $1.18 million set for fiscal year 2011 but lower than the $1.46 million requested by groups for 2012.
Bernsen said the city hopes to have around “$2.5 million available cash” by the end of the calendar year. This available cash protects the city in case amendments are made to the budget requiring the city to spend more than it receives in revenue.
Mississippi state law requires municipalities to adopt a budget by Sept. 15 The fiscal year begins Oct. 1.
Millage increase
The council also set the total millage for the city and Columbus Municipal School District at 106 mills, a 5.4 increase from last year”s total rate of 100.6. The city”s rate is 40.13 mills, a 2.5 increase from last year”s rate of 37.63. The school district”s rate is 65.87, a 2.9 increase from last year”s rate of 62.97.
The 5.4- mill increase adds around $54 a year in city taxes on a $100,000 home, Bernsen said.
A mill in the city is worth $172,000, slightly down from the fiscal year 2011 value of $173,000. A mill in the school district is worth $205,000, also slightly down from the fiscal year 2011 value of $208,000.
Councilman Charlie Box was absent from the meeting; he was expecting a grandchild.
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