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 Sunday, March 9, the 68th day of 2014. There are 297 days left in the year. 1864 -- 150 years ago: Much damage is being done to sidewalks, shade trees, fences and gardens by hogs that are running at large about town. 1889 -- 125 years ago: H.C. Cleveland was elected air knight captain of Rock Island Division Uniform Rank Knights of Pythias. 1914 -- 100 years ago: B.W. Wilson, authority on birds and their habits, spoke at the weekly luncheon at the Rock Island Club. 1939 -- 75 years ago: The famous Dionne quintuplets have been invited to visit King George and Queen Elizabeth in Toronto on May 22, but Papa Dionne thinks their majesties should include the Callander nursery in their tour. 1964 -- 50 years ago: Ever been smothered by funny stuff? Well more than 2,600 people were last night when two boys named Tom and Dick Smothers took a "rocky, twisting road to folk music" in Davenport Masonic Temple. 1989 -- 25 years ago: Moline residents soon may be asked to recycle part of their garbage and might even get paid for it.