Eagle hammars out 2015 spending plan
Members of the Eagle Town Board have a big vision for the community’s future.
Unfortunately, they don’t have big dollars to work with.
Tuesday night the town board and staff sat down to make final tweaks to the 2015 budget. There isn’t a lot of discretionary funding in the spending plan, with basically flat revenues projected and some fairly good-sized capital needs arising.
The earlier drafts of the budget showed expenditures in excess of revenues of $370,000. That money would have to come from the town’s fund balances. But members noted that maintaining a health fund balance of around 20 to 25 percent of overall revenues is a priority. With that in mind, town board members then directed staff to chop down that deficit to the break even point.
After a week of work and the town board review Tuesday, officials are almost there. Instead of anticipating $370,000 coming from fund balance, the new budget reflects $70,000 in fund balance spending. Before the budget gets its final nod next month, the town staff will review it one more time to see if that number can shrink even more.
As currently projected, Eagle will see $4.7 million in general fund (operations) revenue in 2015 and carry an approximately $1 million fund balance.
Here’s some of the highlights proposed for the 2015 budget:
2.5 percent merit pool pay increase for employees
$140,000 cut in the street resurfacing program
$85,000 expenditure to be split between the town’s general fund and the marketing fund to increase the marketing and events coordinator position to full-time
$180,000 expenditure for the Bull Pasture path project
$625,000 expenditure to replace various pieces of aging equipments
Additionally, the town board agreed to evaluate the budget after the first quarter to determine if Eagle can afford an additional maintenance worker. Staff lobbied for the change, noting that the additional responsibilities associated with maintenance of the new Eby Creek roundabouts require more help.
The revised budget can be viewed at http://www.townofeagle.org and the 2015 budget adoption hearing is slated for Tuesday, Dec. 9.