East Moline has begun its budgeting process made unique this time by its switch from a fiscal to calendar year.
Instead of a fiscal year that would run May 1, 2013, to April 30, 2014, the city will budget for an eight-month period, May 1, 2013, to Dec. 31, 2013, officials said. The citythen will begin budgeting based on the calendar year starting Jan. 1, 2014.
The change is designed to streamline the budgeting processes and tax levy discussions.
The eight-month budget projects$25,644,331 in overall revenue and $29,092,025 in overall expenditures, leaving an anticipated deficit of $3,447,694 city officials will have to eliminate.It also projects a general fund revenue of $8,673,351 and $7,761,915 in expenditures, leaving a balance of $911,436 which will be rolled over to cover expenses in the first four months of 2014, city finance director Megan Petersen said.
On Monday night, East Moline aldermen and staff also discussed the city's property tax levy and a proposed $31,852,500 capital improvement plan highlighting anticipated equipment and capital needs for the city through 2017.
Earlier this month, Ms. Petersen said the proposed levy would be slightly lower. The owner of a $100,000 home paid about $710 on East Moline's portion of the levy for 2011, she said. Next year, it would be $705.
The capital plan includes new police and fire radios, a replacement water tower, a new emergency generator and sewer and water treatment expansions.
Today is Wednesday, June 19, the 170th day of 2013. There are 195 days left in the year. 1863 -- 150 years ago: The treasurer of Mercer County has been instructed to sell all thespecie now in the treasury for the highest premium in legal tender and to report same atthe next board meeting. 1888 -- 125 years ago: J.S. Freeman has been elected president of the Recreation Club ofthe Rock Island YMCA. 1913 -- 100 years ago: Rock Island voters will decide next Tuesday on the proposal toconsolidate with South Rock Island Township. 1938 -- 75 years ago: The Rev. Frederick J. Rolf will round out his 30th year as pastor ofthe Evangelical Church of Peace at Sunday worship services. 1963 -- 50 years ago: Dennis Kelly, of Moline High School, has been named a winner inTime Magazine's 27th annual current affairs contest. 1988 -- 25 years ago: The Martin Luther King Community Center will participate in theSummer Food Service Program. Free meals will be made available to all children 18years of age and younger.