Sun Valley approves $5.4 million budget
With LOT flat, expenditures rise 3
By GREGORY FOLEY
Express Staff Writer
Sun Valley City Council members Thursday,
Aug. 14, unanimously approved an approximately $5.4 million budget for the
2003-2004 fiscal year, endorsing a 3 percent increase in expenses over the
current fiscal year.
After a brief public hearing, the panel
voted 4-0 to adopt and publish a spending plan that will allocate $3,010,972
through the city’s general fund and $2,429,356 through other city funds.
The city’s capital improvement fund for
the 2003-2004 fiscal year comprises $1,020,000, all of which is earmarked for
improvements to the city’s roads. Improvement projects are planned for Elkhorn
Road, Old Dollar Road, Camas Loop Road and the Old Dollar Road Bridge.
The increased spending in the 2003-2004
budget will come in part from a 2-percent "cost of living" salary increase the
city plans to grant to its employees.
The budget also includes $50,000 for the
city to pay for a rewrite of the Sun Valley Comprehensive Plan. Mayor David
Wilson had requested the funding to rewrite the plan so it will work cohesively
with a 50-year master plan Sun Valley Co. is expected to bring before the city
Other expenditures in the approved budget
Approximately $457,000 for debt service, a substantial decrease from the
$661,000 for debt service in the current budget.
Approximately $875,000 for the city street fund. That fund includes $30,000 for
improvements to and maintenance of the city’s five-acre parcel along Sun Valley
Just over $705,000 for the city police department, down approximately $20,000
from the amount budgeted for the current fiscal year.
Approximately $337,000 for the city fire department, down from $363,000
budgeted this year.
The city has estimated that it will
receive $1,120,500 in revenues from local option taxes, the same amount the city
anticipated this year. Wilson has said the city is employing conservative LOT
revenue estimates to ensure city expenditures do not exceed overall revenues.
The 2002-2003 fiscal year budget,
finalized last September, was set at approximately $5.2 million.