Finance Committee Planning Monterey Budget

Monterey’s Finance Committee in the early stages of preparation for the next fiscal year budget.

Mayor Alex Garcia said there were preliminary discussions about what the town spent money on this year and what costs will reoccur next year at the most recent committee meeting. Garcia said there was a lot of conversation about the impact of the Perdue plant closure.

“Perdue is our biggest customer when it comes to water and sewer and they range at a minimum of fifty thousand dollars a month,” Garcia said. “So that’s going to be a big hit to us as well. And then when it comes to property taxes, of course that’s a big chunk. So we’re just getting all our numbers straight.”

Garcia said the committee also discussed the rising cost of healthcare for the town’s employees. Garcia said the town is exploring all its options to find a way to save money there.

“We are actually getting a bid from the (Tennessee Municipal League),” Garcia said. “Algood is getting a bid from them as well. I guess they’re trying to branch off into the healthcare industry.”

Garcia said it is too early to tell how the plant closure will impact the town. Garcia said the property taxes for the facility will be prorated through March for 2025.

“We’re also talked to see, we’ve got a few oars in the water to try and get someone else in that building,” Garcia said.

Garcia said there was a lot of discussion, but no action taken by the committee at its last meeting.

“We have ’til June to get the budget ready but we all wanted to start early so we’re not cramming it in at the end,” Garcia said.

The town’s water committee is meeting Monday to further discuss the impact of the plant closure and strategize about the town’s options.