|Village tax askings remain under $100,000|
|Written by Wauneta Breeze|
|Thursday, 18 September 2014 20:23|
2014-2015 budget allows for $4.4 million
in spending, with revenue largely generated
from municipal electric, utilities sales
By Sheri Hink-Wagner
The Wauneta Breeze
Despite increased valuations in Wauneta, Wauneta’s tax askings remain below $100,000. Last Tuesday the Wauneta Village Board of Trustees approved a tax request of .49998 for the 2014-15 year, which begins Oct. 1.
The board also approved a 1-percent increase in the allowable growth rate in spending authority. The action was taken as part of the annual budget hearing and approval process, held in conjunction with their regular monthly meeting.
This coming fiscal year property taxes will generate $98,285 for the Village of Wauneta operations, just a small percent of typical overall costs which last year totaled $3.6 million.
This year’s $98,285 compares to property tax askings of $97,321 last year, marking a .99-percent increase.
Property taxes cover only a small portion of the Village’s expenses with most revenue, and expenses, coming from the operation of Wauneta’s municipal utilities, and primarily through the electrical department which accounts for $1,168,500 of the 2014-15 budget.
The only other budget line item larger than the electric budget is that for proprietary function funds, namely Sunrise Heights of Wauneta. Although the nursing home operates under its own budget, its budget must be accounted for in the Village’s budget since it is Village-owned. The nursing home’s budget for the 2014-15 fiscal year is $2,064,056.
This year’s budget total of $4,460,331 comes in at $194,606 more than the previous year’s proposed budget of $4,265,725.
Last year actual spending was far less than budgeted, with actual/estimated disbursements for 2013-14 coming in at $3,574,087.
Total budgeted numbers for each department are included below.