AIRWAY HEIGHTS — Facing a $1.9 million city budget gap largely brought on by the COVID-19 pandemic, council approved ordinance C-943 to amend certain parts of the budget at its Oct. 5 meeting.
According to meeting documentation, proposed revenue is down $399,268.92, from its original plan. The $40,370,725.90 decline to $39,971,456.98 is a 1% drop.
The biggest revenue difference is in the casino impact reserve fund, which will drop to $62,046.18 to $88,737.80, a $373,308.38 difference.
Another big drop comes to the park reserve fund, which will drop from $440,120.00 to $242,521.28, a $197,598.72 difference.
The current expense fund will drop $1,286,566.47. The decline from $11,339,381.87 to $10,052,815.40 is an 88.7% difference.
The largest revenue increase in the proposed budget compared to the original is in the capital projects fund, which increases 253.3% by 1,000,473.80. The original fund was $652,681.00 and increased to $1,653,154.80.
The Crag Road and Highway 2 Impact Fee fund revenue also grew, this time at a difference of $289,822.48, or 192.2%. The increase went from $314,324.00 to $604,146.48.
Another substantial revenue increase came to the aquatic and fitness center construction fund. The 135.5% increase of $59,970.53 went from $168,857.00 to $228,827.53.
Funds maintaining near complete consistency between original and proposed revenues include street reserve, police reserve, executive reserve, water/sewer debt service and wastewater debt sinking funds.
Proposed expenditures will increase 103.6% from $40,288,456.93 to $41,749.328.11, a difference of $1,460,871.18. That number saw its biggest increase in capital projects expenditures, which will rise from $652,681.00 to $1,487,000.00, a 227.8% increase. Town clerk/treasurer Stanley Schubert told council he and public works director Kevin Anderson discussed that there were old public works projects that needed updating, so the current expense fund is the overall operating fund.
The current expense fund proposed expenditures is also decreasing $1,071,743.00, from $10,954,801.65 to $9,883,058.65.
The water/sewer fund expenditures will rise $661,103.00, from $13,132,171.40 to $13,793,274.40, a 105% increase. The Craig Road and Highway 2 Impact Fee fund expenditures will more than double, from $314,324.00 to $644,324.00. The street reserve fund expenditures took a similar 226.1% jump, from $257,659.03 to $582,659.03.
The biggest drop in proposed expenditures, directly correlated to revenue, came from the casino impact reserve fund. Expenditures are proposed to drop from $462,046.18 to $87,796.18, leaving just 19.2% left of what was originally budgeted for.
The major drop in the casino impact reserve fund expenditures and the current expense fund bring the difference between original and proposed expenditures to 103.6%.
Most expenditures will stay the same in the proposed budget, including the finance reserve, landfill closure reserve, community services, water equipment reserve and sewer capacity reserve funds.
Drew Lawson can be reached at [email protected].
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