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 Tuesday, Sept, 30, the 273rd day of 2014. There are 92 days left in the year.
1864 — 150 years ago: The ARGUS Boys are very anxious to attend the great Democratic mass meeting tomorrow and we shall therefore, print no paper on the day. 1889 — 125 years ago: H.J. Lowery resigned from his position as manager at the Harper House. 1914 — 100 years ago: Curtis & Simonson was the name of a new legal partnership formed by two younger members of the Rock Island County Bar. Hugh Cyrtis and Devore Simonson.. 1939 — 75 years ago: Harry Grell, deputy county clerk was named county recorder to fill the vacancy caused by a resignation. 1964 — 50 years ago: A new world wide reader insurance service program offering around the clock accident protection for Argus subscribers and their families is announced today. 1989 — 25 years ago: Tomato plant and other sensitive greenery may have had a hard time surviving overnight as temperatures neared the freezing point.