The Union Board of Aldermen put their stamp of approval this week on a 2018 fiscal budget that projects revenues of $1.299 million and $1.334 million in expenditures.
The slight shortfall will be made up in carry over surpluses from previous years.
There will be no tax increase for city residents. The current rate of 34 mills will remain in place for the third straight year.
City Clerk Cheryl Chaney told the Board that the new budget represents increased revenues of $45,500 and an increase in expenditures of $15,400 over 2017.
As usual, the two biggest revenue producers are sales taxes ($329,000) and property taxes ($327,000).
In other business, the Aldermen
•Voted to begin the application of a loan to drill a new water well after hearing a report from Water Superintendent Jonathan Ferguson.
Ferguson told the Board that the reworking of one of the city’s wells was almost complete, but it did not look as if it was ever going to return to the 750 gallons per minute of production that it once had.
The city has one other well that produces about 475 gallons per minute.
He said both of the wells were nearing the end of their designed life expectancy.
The aldermen accepted Mayor Wayne Welch’s proposal that they begin preparing the paper work for a $500,000 loan to dig a new well.
“We’re not fixing to borrow the money right away,” he said, “but, we need to at least start getting ready for what we are going to have to do eventually.”
• Voted to advertise for bids and sell an old police car.
• Accepted the resignation of police office Shaun Shumake.
