Green Park board votes to adopt fiscal '04 budget
A fiscal 2004 budget that projects $1,070,750 in total expenditures — up from fiscal 2003's estimated total expenditures of $633,690 — recently was approved by the Green Park Board of Aldermen.
The Board of Aldermen voted unanimously Dec. 15 to approve the fiscal 2004 budget, according to City Administrator/City Clerk Diana Mize.
The fiscal 2004 budget projects general fund expenditures of $670,750 and capital-improvements fund expenditures of $400,000.
Expenditures for the 2004 general fund are projected to increase $137,060, up from 2003's estimated expenditures of $533,690.
The fiscal 2004 capital-improvements fund projects expenditures of $400,000, up from the previous year's estimated expenditures of $100,000.
The fiscal 2004 budget projects total revenues of $1,176,500, which is down from the previous year's estimated revenues of $1,217,100.
Of the 2004 revenues, $806,500 is projected for the general fund and $370,000 is projected for the capital-improvements fund.
Projected general fund revenues for 2004 are down $30,600 from the previous year's estimated general fund revenues of $837,100.
Capital-improvement fund revenue projections for 2004 are down $10,000 from the previous year's estimated capital-improvement fund of $380,000.
Voters approved a half-cent sales tax in November 2001, which generates revenue for the capital-improvements fund.
The 2004 budget estimates that Green Park would have a total general fund balance of $1,636,744 on Dec. 31, 2003, up from the previous year's estimated total ending balance of $1,500,994.
Excluding $440,000 reserved for contingencies, the adopted 2004 budget projects the city would have an unreserved general fund balance of $1,196,744, which is up from the estimated ending balance of $1,060,994 for 2003.
In the capital-improvements fund, the approved fiscal 2004 budget projects the city would have an ending fund balance of $421,083, which is $30,000 less than the previous year's estimated capital-improvement fund balance of $451,083.