Categorized | Public Notice

Public Notice 7/18/13 City of Millington Budget for FY14

NOTICE TO THE PUBLIC
City of Millington Budget for FY14

The City of Millington, Tennessee, hereby provides certain financial information for the 2013-2014 fiscal year budget in accordance with provisions of TCA 6-56-206. There will be a public hearing concerning the budget at City Hall, 7930 Nelson Road on July 29, 2013 at 5:00 p.m. The proposed budget with information on all City Funds may be examined at City Hall between 8:00 a.m. and 5:00 p.m. on weekdays and on the city’s web site. All interested citizens are welcome to attend and participate in the hearing.

General Fund        FY12         FY13        FY14
Revenues           ACTUAL      ESTIMATED   PROPOSED

Local Taxes       6,351,200   6,612,430    6,932.642
State of TN         866,755     859,267      866,895
Federal Government  142,006     195,337      204,177
Other Sources     3,279,637   3,057,155    2,762,564
Total            10,639,598  10,724,189   10,766,278

Expenditures
Personnel               –         –            –
O & M                 5,906     (24,700)       –
Transfers, Net      786,511     806,389        –
Total               792,417     781,689        –

Fund Balance
Beginning         6,500,457  16,347,638  26,290,138
Ending           16,347,638  26,290,138  37,056,416

Employee Positions    143.6       145.6       130.6

State Street Aid Fund
Revenues
State of TN          288,302     279,027     272,224
Other Sources         15,271       2,762       1,012
Total                303,573     281,789     273,236

Expenditures
Personnel               375,505     380,490     254,439
O & M                   299,281     330,558     369,207
Operating Transfers In (222,619)   (429,259)   (350,410)
Total                   452,167     281,789     273,236

Fund Balance
Beginning            160,148     11,554       11,554
Ending                11,554     11,554       11,554

Employee Positions        10         10            7

Debt Service Fund
Revenues                   0         54           10

Expenditures
Principal                 425,411    441,411     513,420
Interest & Fiscal Charges 225,043    223,022     243,013
Operating Transfers In   (728,892)  (594,983)   (756,423)
Total                     (78,438)    69,450          10

Fund Balance
Beginning                    –        78,438       8,998
Ending                     78,438      8,998       8,998

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