By a vote of 4-0, the Yatesville City Council approved its 2014-2015 budget at its May meeting. The total of the main budget is $245,271.00, while the total of the water/wastewater budget is $76,413.00.
Mayor Cecil Moncrief had advised the council at the April meeting that there were very little changes from the old budget. Mayor Moncrief was absent at the May meeting, and Council member Ronnie Riggins filled in as Mayor Pro Tem.
The major sources of revenue for the city in the new fiscal year will be the special fund balance, which will provide $127,782.00, and sales tax, which will provide $56,784.
Major expenses expected include $123,941.00 for capital outlay, $25,000 for electricity, a $16,000 transfer to the water/wastewater budget, and $15,000 for salaries.
In the water/wastewater budget, the major revenue source is from city residents using the water. Expenses include $26,000 for DWSI, 11,513 for system repair, $8,500 for water tank maintenance and $8,500 for electricity.
Riggins noted that in the 2011 SPLOST, as of December 2013, the city has collected $63,255. In the five-year SPLOST, it is estimated that the city will receive a total of $176,000, with the majority of those funds earmarked for water system improvements.
Council member Phyl Gatlin made a motion to approve the new budget. Council member Wanda Dozier seconded the motion and it was approved by a vote of 4-0.
Larry Stanford may be reached at 706-647-5414 or on Twitter @LarryStanford7.