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Operating budget nearly $6 million

This is part one of two in-depth stories The Tribune will publish examining the City of Ironton’s fiscal year 2014 permanent operating budget.

 

An arduous process that began late last year and culminated in a rather innocuous fashion on March 13; the Ironton City Council adopted its permanent operating budget for 2014 with a unanimous 7-0 vote.

The total amount available for expenditures according to the budget is $5,892, 630.21, the bulk of which — $2.5 million — comes from income taxes. Municipal fees account for another $896,400. Other big money funds outlined in the budget include the local government fund at $235,000; municipal court (criminal) at $215,000; transfer from fire fee fund at $215,995; and indirect cost — reimbursements at $293,915.

The city’s total general fund expenses are estimated at $5,461,030.36, which projects a cash balance of $431,599.85 on Dec. 31, 2014. A large expenditure is for Ironton’s fire department at $1,398,227.65, all but $225,502.60 of which is allocated for employees’ salaries, retirement and hospitalization.

The city’s State Highway Fund had a cash carryover from fiscal year 2013 of $202,613.76 and added to 2014’s revenue of $89,100 from permissive tax, gasoline tax, auto registration, interest on investments and miscellaneous creates a sum of $291,713.76 available for expenditure. A cash balance of $136,713 at the end of fiscal year 2014 is projected after $155,000 in total expenses from that fund.

Revenue and expenditures for the police and fire pension fund will leave a projected year-end balance of $6,901.16. There was a prior year encumbrance of $17,266.77 in the police pension fund and $17,286.16 for the fire pension fund.

Ironton’s water fund has a line-item projecting $1,765,000 in revenue from the sale of water, which accounts for all but $198,000 of the fund’s total revenue for fiscal year 2014. A prior year encumbrance of $151,579 brings the final projected amount availbale for expenditure in the water fund to $2,114,579. Total projected expenses for the water fund is $1,981,355.17, leaving a projected cash balance on Dec. 31, 2014, of $133,223.84.