Maplewood Budget Calls for Higher Revenues
The 2011-12 city budget anticipates additional revenue from an improving economy and new businesses.
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Maplewood city staff presented a balanced 2011-12 budget to Maplewood City Council during a workshop on Tuesday.
The city's $17.5 million budget sets the blueprint for how much the city expects to spend between now and next June. City council is scheduled to vote on the proposed budget at its July 12 meeting.
The budget predicts a 7.7 percent increase in city revenue. And while homeowners' tax bills aren't expected to rise, the city anticipates finding revenue in other ways.
The improving economy should bring additional revenue and the city expects to attract new businesses, which bring in additional business license fees and sales tax revenue, City Manager Marty Corcoran said.
The budget projects a decline in revenue stemming from assessed valuation compared to last year. The city's fiscal year runs from July 1 to the end of June.
Read more about the budget on Patch:
maylily
10:33 am on Saturday, July 9, 2011
It seems like it would have been much more fiscally prudent to not count on money that isn't in hand. Instead, if revenues are more, bank that and then include those funds in the next budget cycle.