The Jay Town Council approved its proposed budget Tuesday, Sept. 3.
According to Jay Operations Manager Eric Seib, the actual budget is very close to what has been projected.
“We are at 97 percent of the revenues and 95 percent of the expenditures we projected for this year so far,” said Seib.
Estimated total revenues for the FY 2019-20 are $3,587,200, which is $554,800 for the General Fund; $2,745,400 for the water and sewer fund; $282,000 for the natural gas fund, with a reserve fund of $5,000 of $2,000 from the GF, $1,000 from the water and sewer fund and $2,000 from the natural gas fund brought forward.
Ad Valorem taxes, which total $554,800 in the General Fund, are $120,300 from a Millage rate of 2.5; $50,000 from Local Option Sales Tax (LOST); $52,000 from electrical franchise tax; $125,000 from public service tax; $7,200 from the communication tax; $2,200 from licenses and permits; $74,500 from intergovernmental revenue; $30,000 from charges for services and $93,600 from miscellaneous revenues.
Estimated expenditures are: general government services $366,800; transportation $106,000; culture and recreation $65,000 and debt services $17000, plus the water and sewer department $2,745,400 and natural gas fund $282,000 for a total of $3,582,200 to balance the budget.
In a motion made by Councilman Wayne Godwin and seconded by Mayor Shon Owens, the motion carried unanimously. Councilman Josh Holloway was not present.
