Council To Hold Hearing Wednesday On Budget Amendments
Date posted - May 17, 2016
Sheldon, Iowa — The Sheldon City Council will meet this Wednesday May 18th with a Public Hearing on budget amendments for fiscal year 2015-2016. The budget is usually amended near the end of the fiscal year to reflect actual income and expenditures, rather than the dollar figures that were projected when the budget was first developed. The amendments will add $815,833 to the Total Revenues received during this fiscal year, and will show a decrease in expenditures of $93,525. The increase in revenues was the result of an increase in the Hotel/Motel tax, a gift for the Events Center, reinsurance claims and insurance money from the storm damage at the airport. The reduced expenditures were, in part, brought about by the final payment on the fire truck that was budgeted last year, the trail engineering survey, an increase in insurance claims and storm damage at the airport.
In other business, the Council will consider an application for Tax Increment Financing, consider pay estimate #1 on the Airport 6-T Hangar Project and consider a request from the SCDC for permission to block off three or four parking spots in front of the downtown park area every Friday morning in June and July, with the exception of July 1st. The SCDC is planning to sponsor ‘Grill-Outs’ in that area on those days.
Wednesday’s Meeting will begin at 4:30 pm in the upper level of the Sheldon Community Services Center.