The final City budget for 2018 is fiscally sound and balanced. The general operating budget it balanced. The total budget appropriations amount to $35,364,212 in revenues and beginning fund balances. This is a decrease of $326,487 from the 2017 budget. This decrease is due in large part to grants from the Federal Aviation Administration (FAA) for airport improvements, Department of Transportation (DOT) for street projects, and Department of Energy (DOE) grant for storm water improvements, awarded in 2017.
Tax revenues are slighty up. Our projected yield from all taxes is $8,031,927, a 0.804% increase over 2017. This includes the authorized 1% increase in property tax of approximately $23,124.00 Our projected yield from retail and use tax is $2,560,000.
We have several large-scale capital improvement projects in this year's proposed budget. We will complete the runway rehabilitatin and taxiway improvements at the airport at a cost of $4,000,000. We will also complete two street projects. The total cost of these projects is will over $5,000,000.
The 2018 budget includes on additional staff position in the Parks Maintenance Department (General Fund). A restructure of staffing between the Public Works Director and Director of Finance was accomplished with new titles, reassignments of staff, and a new organizational chart.