Madison adopts $12.2M budget
By Michael Prochaska
The Madison City Council voted unanimously to adopt its fiscal year 2013 budget Monday, following a public hearing.
The $12.2 million budget is about $753,800 less than the amended budget for FY12, according to city records.
The city’s general fund increased by about $135,000, or 3 percent, with expenses for FY13 projected to be about $4.575 million.
The city’s water and sewer fund decreased by $503,400 and the gas fund dropped by $455,700 due to lower gas rates and consumption habits, said City Accountant Karen Guinn. The sanitation fund increased by $77,350 due to a leasing agreement for a new garbage truck, she said.
The budget calls for about $4.38 million in general fund revenues, with property taxes accounting for 25 percent of revenue or $1.14 million. Other taxes account for 24 percent of the revenue, or $1.11 million. Sales tax is budgeted to account for 17 percent of the revenue, or $780,000.
Special Purpose Local Option Sales Tax (SPLOST) revenue and expenses are balanced at $330,000, and are to be allocated for Phase III of the city’s Public Safety facility, Guinn said.
If passed a Northeast Regional Transportation Special Purpose Local Option Sales Tax (TSPLOST) referendum on the July 31 Primary could bring in about $108,000 a year for Madison in discretionary transportation spending, according to Georgia Department of Transportation estimates.
“This is another area where we can generate revenue that doesn’t come from property taxes,” said councilman Naples. “This is found money for us.”
Printed in the June 14th edition.