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 2, the 245th day of 2014. There are 120 days left in the year.
1864 — 150 years ago: It is estimated that 300,000 people attended the recent Democratic convention in Chicago when Gen. George B. McClellan of New Jersey was nominated as a candidate for president of the United States. 1889 — 125 years ago: Alderman Frank Ill, Winslow Howard and Captain J.M. Montgomery returned from Milwaukee, where they attended the national Grand Army of the Republic encampment. 1914 — 100 years ago: Three members of the Rock Island YMCA accepted positions as physical directors of other associations. Albert Cook went to Kewanee, C.D. Curtis to Canton and Willis Woods to Leavenworth, Kan. 1939 — 75 years ago: Former President Herbert Hoover appealed for national support of President F.D. Roosevelt and Congress in every effort to keep the United States out of war. 1964 — 50 years ago: The Rock Island Junior chamber pf Commerce has received answers to about 65 % of the 600 questionnaires mailed out recently in a "Community Attitude Survey" to analyze sentiments of citizens towards their city's various recreational, educational, and civic service programs. 1989 — 25 years ago: The two thunderstorms passing through the Quad Cities last night and early today left some area residents reaching for their flashlights.