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Thursday, May 5, 2016

City finalizes budget proposal

Thursday, March 6, 2008

The City of Storm Lake Fiscal Year 2009 budget was approved 4-0 to allow expenditures of $23,147,246, marking a wind-down of Project Awaysis.

With $9 million in Vision Iowa funds that were secured for Project Awaysis, the city is looking forward to the successful completion of the project at the end of the fiscal year in June 2009.

Comparatively speaking, city operations over the last five fiscal years between FY 2004 and 2009 have increased with revenues accelerating from $18.563 million (FY 04) to $22.001 million (FY 09) or a 18.52% increase.

In turn, expenses project an increase over the same five-year-period from $13.335 million (FY 04) to $18.832 million (FY09) which is a 41% increase. During the five-year period of FY 04 to FY 09, revenues are budgeted to have increased by $3.438 million with expenses increasing by $5.497 million.

In other City Council News

* In the new budget, most fees remain unchanged. It is possible that the city will consider water/sewer fee increases.

* City Council approved a motion 4-0 to allocate $721,542 for the completion of the West Lakeshore Drive project. The project will be a 90-day contract with a $500/day penalty for liquidated damages. The project is anticipated to commence after July 4th of this year and it is anticipated that traffic will be routed to alternate roads.

* The City Council approved a motion 4-0 to enter into a partnership with the Iowa Department of Corrections that would allow 4-6 offenders from Rockwell City to be utilized for "supplemental labor" with the city of Storm Lake streets and park departments for construction and maintenance projects for the 2008 season. The city would be responsible for supervision and pay $4.00 per day per offender in the agreement.



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