Mayor Stock went through each line item in the budget. The initial budget submitted by CM Bratkovich had reduced business privilege tax by one mill, taking it from 7 to 6 mills; reduced debt service tax from 9 mills to 3.75 mills; no small business loan to cover 2 police cruisers, 1 streets department truck, 1 excavator and street paving. The prior year surplus was $1,085,829.00.
After long discussion, it was decided to keep business privilege tax at 7 mills. CM Bratkovich was in favor of reducing it by one mill. The police cruisers, truck and excavator were removed from the 2012 budget. It was decided that $300,000 in street paving will be done in 2012 and debt service will be increased to pay the small borrowing loan over a 2 year period.
A proposed, balanced budget and three enabling ordinances will be submitted to City Council on November 17th in accordance with the 2012 budget timeline.
Mayor Stock adjourned the meeting at 8:18 PM.
