Printer Friendly Version

Village Vision News

Budget OK’d; shortfall covered by reserves

Thursday, April 28, 2011

Trustees unanimously accepted the Village’s fiscal year 2011-12 operating and capital budget on April 18, despite a predicted shortfall.

The approved budget projects a $1.23 million deficit if revenues remain flat as forecast and all budgeted expenses are incurred. Despite the fact that expenses may exceed revenues, the general fund will remain in the black because of $3.7 million in reserves that the Village has saved over the past several years, according to Village Administrator Heather Kimmons.

One resident questioned the wisdom of an unbalanced budget during an April 4 public hearing. However, Kimmons said having an unbalanced operating and capital budget is nothing new for the Village after reviewing and comparing like budgets from the years 2005-06 through 2011-12. “Clearly, our reserve funds have continued to accumulate over the years … we are continuing to build reserves. It varies from year to year,” Kimmons said. She noted that projected deficits, for the most part, have not materialized in the past. “When deficits have existed, they have been significantly less than anticipated,” she concluded.

Trustee Eric Morr said that during the last two years, trustees have been cognizant of the economic crisis and “…really put the brakes on spending.” The result has been more than a $1 million surplus. Both Morr and Kimmons said spending can be delayed or accelerated for projects as the fiscal year unfolds.

Maintenance of Village infrastructure continues to be a priority for allocation of capital budget monies in the approaching fiscal year, including the following street projects:

  • West Weaver Road bridge, $202,693
  • Christopher Drive overlay, $305,000
  • Cox/Elwood streets to Rt. 51, phase four, $58,072
  • Eagle Ridge Estates subdivision, joint repair, $8,000
  • Ruehl/Elwood streets storm sewer, $50,000
  • Stevens Creek Pointe subdivision overlay, $342,500
  • Sidewalks, $25,000
  • Landscaping trees, $10,500

A total of $204,500 in park improvements will also be made:

  • Utility cart, $10,000
  • Baseball diamonds No. 1, No. 2, lighting upgrades, $100,000
  • Baseball diamond No. 5, improvements (irrigation), $30,000
  • Park landscaping, $4,500
  • New roof, pavilion/concession, $50,000
  • Trail improvements, $10,000.

Forsyth Public Library will receive a total of $81,500 for its projects next year. Included in this total is $67,000 for library materials listed as books, periodicals and audio/visual items.

^ Back to Top ^

Site by HomeSight, LLC