Commissioner Fitzgerald had recently resigned as Chairman of
this Committee and Dale Cooke has undertaken the leadership if
this Group.
This was Dale's first meeting as Chairman. Commissioners Fitzgerald, Eisenhauer and Mayor Tush were in attendance.
There was some very interesting data to digest. Here are some of the highlights.
Expenditures for Fiscal Year Ending 12-31-2004 $ 2,252,477
Expenditures for Fiscal Year Ending 12-31-2005 $2,760,046
Expenditures grew by 22.54%, or $507,569, in just one year
Expenditures through September 30th 2006, are $ 2,205,503 against a
2006 Budget of $2,375,097
The Primary sources of Income for our Town are:
Transfer Taxes are the #1 at roughly $650,000 in 2006.
Parking is #2 and generates roughly $551,000 in Revenue through
Permits, Meters, and Fines. Building Permits are the 3rd largest source of
income for the Town at roughly $300,000.
Business Licenses are 4th at roughly $180,000 Rental Licenses are 5th
at roughly $163,000.
These five sources of income annually contribute roughly $1,844,000 towards our Town expenses.
Spending disciplines were obviously discussed and suggestions were
made by everyone in the working group.
Some of our newest volunteers had some valuable insights. They
bring a wealth of budget and finance experience to the team and
will be assisting our Town manager, Gordon Elliott, in breaking
our annual budget into detailed Capital and Operating Budgets. By
developing a budget by this criteria each Department Head can have
visibility and an understanding of how to manage their
respective departments.
The working group will be having several more meetings to work
through the details of each of the line items. The next meetings are
scheduled for 10-30, 11-8, 11-15, and 11-21. The 2007 budget needs to be
approved by our Commissioners at the December Town Council meeting.
The working committee consists of
Bob Barry
Bob Fitzgerald
David King
Mary Nelson
Joe Nelson
Don Ziegler
Suzanne Evans
Steve Huse
Charlie Pollard
Graham Smith
Dale Cooke
Dell Tush |