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March 19, 2010

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City spending exceeds revenue

Published: 8:52 AM, 02/04/2010 Last updated: 9:00 AM, 02/04/2010
 

Author: Michael Thomason

If it weren't for economic trouble, the Madisonville Mayor and Aldermen wouldn't have much to discuss during their monthly meetings.
After the library presented a certificate of appreciation to Police Chief Gregg Breeden for his department's help in moving the library and City Recorder Ted Cagle was granted permission to seek money from the federal Home Grant program to refurbish old houses with low income residents, Alderman Glenn Moser brought the mood down with his monthly finance report.

Moser told the board revenues are down $80,419 over the same period as last year in the general budget. "If it continues at this pace, by the time the fiscal year ends in June, we'll be down $137,000 over the previous year."

This is not good news for a town that had to cut more than $100,000 from its budget in 2008-09 just to make everything work out in the end. But in the numbers that really matter, revenue versus expenditure, Moser had even more bad news.

"We've spent $57,000 more than we've taken in," Moser said. "All three of our major revenue streams, property tax, sales tax and state sales tax, are down. Property taxes for January are down from what we collected in December, but as the deadline for paying them is Feb. 28, hopefully we'll see an upswing in those collections."

The finance report wasn't all gloom and doom as Moser said the water, sewer and gas departments are doing fine. That doesn't help the general budget much as any money made in those department must be used for those departments, but it did give the board some leeway as they consider whether it would make more sense to buy a bucket truck instead of renting one.

Still, the board decided if they did buy a bucket truck for $16,750, it would come out of the street aid fund.
The board also voted to hire former Monroe County Election Commission Director Randall Moser as a TIBR's clerk for the Police Department. Chief Breeden said before the meeting that Moser has the kind of computer experience he's looking for as the department is looking to computerize all its files, making them easier to access.

michael.thomason@advocateanddemocrat.com | 442-4575

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