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Town of Broadway Fiscal Year 2014 Budget May 7, 2013

Town of Broadway Fiscal Year 2014 Budget May 7, 2013. Revenues Overview % Change from Previous Year. General Fund $1,595,900 9.83% Water Fund $522,800 3.36% Sewer Fund $2,617,700 -0.27%. Expenditures Overview % change from previous year. General Fund $1,595,800 9.83%

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Town of Broadway Fiscal Year 2014 Budget May 7, 2013

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  1. Town of Broadway Fiscal Year 2014 Budget May 7, 2013

  2. Revenues Overview% Change from Previous Year • General Fund $1,595,900 9.83% • Water Fund $522,800 3.36% • Sewer Fund $2,617,700 -0.27%

  3. Expenditures Overview% change from previous year • General Fund $1,595,800 9.83% • Water Fund $522,800 3.36% • Sewer Fund $2,617,700 -0.27%

  4. General Fund HighlightsRevenue • Real estate rate remains unchanged at $.07 • Meals tax a significant source of revenue and continues to climb • Sales tax continues to rise moderately for the second straight year. • Personal Property revenue remain steady • Cigarette tax nearly covering debt service • No increases in fees or taxes

  5. General Fund Revenues

  6. General Fund HighlightsExpenditures • Street Maintenance continues to account for significant portion of fund • Increased part time wages in police department to allow for improved coverage • Continue with improvements at the Community Park • No new initiatives; General Fund fairly static

  7. General Fund Expenditures

  8. Water Fund Revenue • Proposed 2.9% increase – equates to $1.22 per billing cycle for average user • Connection Fees collections are projected to remain stable • Overall revenue projected to increase by 3.36%

  9. Water Fund Revenues

  10. Water Fund Expenditures • Overall expenses increasing 3.36% • Continue purchasing average 50k gallons per day of water from Co-op • Minor capital improvements at plant, as well as installing valves in critical locations around town. • No debt

  11. Sewer Fund Revenues • No increase in user rates • Connection fees steady • Sludge removal revenue ongoing but decreasing due to amount generated; sludge expenses also decrease • Total revenue almost identical to current year; decrease of .27%

  12. Sewer Fund Revenues

  13. Sewer Fund Expenditures • Fairly consistent with current year • Third consecutive year of decreasing expenditures; albeit slightly, -27% • Minor capital improvements and contingency built in • Promoting Wes Estep from regular part time status to full time

  14. Summary

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