During the Finance Committee meeting Tuesday night the 2021-22 budget was the topic. A continuing budget was passed in the June 22 meeting until the new budget is passed. Alderman Everett Brock shared some May numbers with the committee. The local sales tax showed a 17 percent increase, Miscellaneous taxes also showed an increase and building permits were up 28 percent. Brock said that at this time in 2020 they were projected to have 3.1 million going into 2021-22 but with the increases and federal money it’s expected to be between 4.5-5 million dollars. The property tax rate will remain the same at 1.84 per 100 hundred dollars of assessed value. The budget is expected to ready for a vote on first reading at the July 27 meeting.
Alderman Zach Sutton recommended an amendmnt to a resolution to follow the State Comptroller’s Budget Cycle Timeline to include a 5th goal in trying to have the budget ready by July 1 next year, Sutton said lots of municiaplities in Tenn. do it. He also added that department heads want to start projects right now but can’t until the new budget is approved, which could be August 10 at the earliest. Brock called it a non-issue, saying that this is no reward for a budget to be ready by July 1. He reinterated again that having numbers thru May gives them a good idea where they will be projected to be come next year. Alderman Steve Harvey said he wants to talk to the department heads before he votes.
The resolution was passed and will be brought to the full board next meeting.