Algood Passes Final Reading of New Budget

The Algood City Council passed the second and final reading of the new budget today.

Mayor Kirk Dyer said the budget contains a minimal increase for expenditures.

“Just some quick numbers. This is involving our purposed 2018, 2019 budget. We are projecting our revenues to be at 3,351, 420 dollars,” Dyer said. “Of course, that is our total projected revenue. Our projected total appropriation or expenditures are 3,657,846 dollars.”

Dyer said the difference is about 300 thousand dollars.

“That includes the building of the new fire hall, our paving and sidewalk projects,” Dyer said. “Thus the reason for the 306,346 dollar amount we are projecting.”

Morrison said the money coverage comes from the general fund and money the city did not spend this fiscal year.

Dyer said the property tax will remain the same as last fiscal year.

The budget will go to the Comptroller’s Office for review, Morrison said.

If the Comptroller’s Office approves it, the budget will go into effect on July 1.