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Numbers ‘the same’ in town budget, town administrator says


Town administrator Dan Olson said the 2004-2005 fiscal year budget numbers are “generally the same” compared to the current fiscal year.

Olson made the statement during the first reading of the budget at the Farragut Board of Mayor and Aldermen meeting last week. The FBMA unanimously approved the budget.


If passed on second reading at the June 24 FBMA meeting, next fiscal year’s budget will include total expenditures of $7,479,390, an increase of $16,565 compared to the current fiscal year’s budget.

A large portion, $3.339 million, of next fiscal year’s expenditures will be allocated for capital projects.

According to the town’s Capital Improvement Plan for fiscal year 2004-2005, the largest ticket items would be phase two of the McFee Road project ($700,000), right-of-way for phase two of the McFee Road project ($600,000) and improvements to the Everett Road/Kingston Pike intersection ($550,000).

Although the Campbell Station Road extension project, the largest capital improvement project undertaken by the town, will likely start during the 2004-2005 fiscal year, a large chunk of the town’s part of the bill for the project — more than $2.75 million — was paid for during fiscal years 2002-2004.

Olson allocated $300,000 in the 2004-2005 budget “in the event that we have unanticipated overruns.”

Other expenditures for the next fiscal year include $2,976,590 for general government, $572,000 for street aid, $400,000 for roads, $166,800 for equipment replacement and $25,000 for beautification.

Total revenues for the next fiscal year are projected to be $5,535,746, which would be $18,064 less than the current fiscal year’s budget.

The drop in revenues, according to Olson, is principally due to continued low interest rates.

According to the budget the “difference between budgeted expenditures and revenues will be made up by the use of cash reserves in the amount of $1,943,644.”

One increase Olson said could increase the next few fiscal years is the amount of state-shared revenue the town receives.

“The threat on state-shared revenues is gone … we could even see slight increases,” he said. “Things appear to be turning around in that area. The state is in better shape.”

Another item proposed by Olson that could bring the town more revenue is a special census in fiscal year 2006.

“It would help us in the future,” Olson said.

He estimated the census could bring the town $100,000 to $150,000 in additional revenue.

In other business:



• The FBMA unanimously approved on first reading ordinance 04-18, amendment to ordinance 86-16, Farragut Zoning Ordinance, as amended, to rezone parcel 9, tax map 142DA, from R-2 to R-1, OSR; 33.95 acres, known as the Matthews property, bounded by Stonecrest, Farragut View, Woodland Trace and Sweet Briar subdivisions. The request was made by Site, Inc.

• The FBMA unanimously approved cancellation of Farragut Board of Mayor and Aldermen special meeting scheduled for June 7. The next scheduled FBMA meeting will be June 24.

• The FBMA unanimously approved off-premises directional signs for the Boys and Girls Clubs Dream Homes Showcase 2004, requested by the Boys and Girls Clubs of the Tennessee Valley.

• The FBMA unanimously approved appointment and re-appointments to the Farragut Arts Council, Farragut Board of Plumbing and Gas/Mechanical Examiners, Farragut Board of Zoning Appeals, Farragut Decorating Committee, Farragut Folklife Museum director and gift shop manager, Farragut Leisure Services Advisory Board chairman, Farragut Museum Advisory Committee, Farragut Parks and Athletic Council, Farragut Personnel Committee and Visual Resources Review Board.

 

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