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Sunday, May 1, 2016

Tax rate unchanged in city's $17 million budget

Tuesday, February 13, 2001

New wells make the budget, but chamber retail recruiter fund request turned down.

Expenditures for the City of Storm Lake will top the $17 million level for the coming fiscal year. The city council met this week to work through the 2001-2002 budget.

Expenditures for the 2001-2002 fiscal year total about $17 million, with revenue totaling $16.8 million.

"Part of the reason expenditures don't equal revenue is because there was some money set aside in prior years for projects that will be done this upcoming year," said Justin Yarosevich, administrative services director.

The tax levy will remain the same as this year at $11.33 per $1,000 of home valuation. Fund balances continue to be maintained at adequate levels by the city, Yarosevich said.

The budget does include some funding for the planned expansion at the water treatment center, two new Dakota aquifer wells and one shallow well. The total water project is expected to cost $8.7 million.

The city council did turn down a request from the Chamber of Commerce to fund a business recruiter at $40,000 to attract retail business to Storm Lake. The council approved $3,000 to the Chamber, however, for the production of Storm Lake brochures and videos.

Read the rest of this article in the 2/10 Pilot Tribune.

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