Neillsville Finance Committee Prepares 2015 Budget, City Levy Limit
Friday, October 24th, 2014 -- 10:10 AM
-The Neillsville Finance Committee has been meeting for the past couple weeks to create the 2015 budget for the city.During a Finance Committee meeting held on October 13th, the 3rd quarter 2014 budget revenues and expenditures report was presented. There was an estimated $316,357 for 2014 General Funds applied to rollover.
The committee then heard the 2015 expenditure lines and contingency funds applied for a total of $3,484,678 compared to 2014's $3,217,237 equaling an increase of $267,441 or 8.3%. From there they heard the revenue lines and general funds applied which came to $2,354,809 compared to 2014's $2,169,339 which is an increase of $185,470 or 8.5%. Then those two amounts are added up, the city levy for 2015 comes to $1,129,869 which exceeds the state levy limit.
The city then had to look at several options to meet the levy requirement imposed by the state. The committee approved make some insurance and wage and made several cuts to various lines of the budget.
A public hearing for the 2015 budget will be held during the first common council meeting in November.
Feel free to contact us with questions and/or comments.