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, Dec. 8, the 342nd day of 2013. There are 23 days left in the year. 1863 -- 150 years ago: For the whole of last week we have been favored with the most delightful Indian summer weather, and mercury ranging from 40 to 65 above zero. The river is entirely clear of ice and looks as mild and soft as summer. 1888 -- 125 years ago: Albert Johnson was appointed a deputy in the circuit clerk's office. 1913 -- 100 years ago: 800 or more tons of earth in six landslides covered 38th Street for a distance of 200 feet near 7th Avenue and destroyed much property. 1938 -- 75 years ago: One of the 350-foot towers, which with a new transmitter will increase the power of WHBF to 1,000 watts day and night, has been completed on a 20-acre tract at 23rd Avenue and 51st Street, Moline. 1963 -- 50 years ago: In cooperation with The Associated Press, The Argus presents to its readers a complete, beginning-to-end account of one of the most tragic and dreadful chapters in American history, the assassination of President Kennedy, available in book form, and now in preparation. The book is entitled "The Torch is Passed." 1988 -- 25 years ago: Deere & Co. stockholders received good news of a boost in their quarterly dividends from 20 to 30 cents per share of common stock. The dividend, made to stockholders of record on Dec. 30, will be payable on Feb. 1, 1989.