Categorized | Public Notice

NOTICE TO THE PUBLIC: City of Millington Budget

City of Millington Budget for FY17

The City of Millington, Tennessee, hereby provides certain financial information for the 2016-2017 fiscal year proposed budget in accordance with provisions of TCA ß 6-56-206. There will be a public hearing concerning the budget at City Hall, 7930 Nelson Road on Thursday, June 16, 2016 at 6:00 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 cityís web site. All interested citizens are welcome to attend and participate in the hearings.

GENERAL FUND
Revenues
Local Taxes – FY2015 ACTUAL $8,798,344 / FY2016 ESTIMATED $8,705,993 / FY2017 PROPOSED $8,577,926
State of TN – FY2015 ACTUAL $970,443 / FY2016 ESTIMATED $905,952 / FY2017 PROPOSED $884,500
Federal Government – FY2015 ACTUAL $252,863 / FY2016 ESTIMATED $178,422 / FY2017 PROPOSED $5,000
Other Sources – FY2015 ACTUAL $3,084,586 / FY2016 ESTIMATED $2,139,577 / FY2017 PROPOSED $2,218,283
Total – FY2015 ACTUAL $13,106,236 / FY2016 ESTIMATED $11,929,944 / FY2017 PROPOSED $11,685,709

Expenditures
Personnel – FY2015 ACTUAL $6,867,876 / FY2016 ESTIMATED $6,353,545 / FY2017 PROPOSED $6,618,126
O & M – FY2015 ACTUAL $3,510,224 / FY2016 ESTIMATED $3,532,310 / FY2017 PROPOSED $4,155,529
Transfers, Net – FY2015 ACTUAL $1,208,609 / FY2016 ESTIMATED $1,798,102 / FY2017 PROPOSED $912,054
Total – FY2015 ACTUAL $11,586,709 / FY2016 ESTIMATED $11,683,957 / FY2017 PROPOSED $11,685,709

Fund Balance
Beginning – FY2015 ACTUAL $7,312,498 / FY2016 ESTIMATED $8,832,025 / FY2017 PROPOSED $9,078,012
Ending – FY2015 ACTUAL $8,832,025 / FY2016 ESTIMATED $9,078,012 / FY2017 PROPOSED $9,078,012
Employee Positions – FY2015 ACTUAL 138 / FY2016 ESTIMATED 113 / FY2017 PROPOSED 108

STATE STREET AID FUND
Revenues
State of TN – FY2015 ACTUAL $316,614 / FY2016 ESTIMATED $322,828 / FY2017 PROPOSED $334,516
Other Sources – FY2015 ACTUAL 35 / FY2016 ESTIMATED 30 / FY2017 PROPOSED 30
Total – FY2015 ACTUAL $316,649 / FY2016 ESTIMATED $322,858 / FY2017 PROPOSED $334,546

Expenditures
O & M – FY2015 ACTUAL $326,061 / FY2016 ESTIMATED $420,960 / FY2017 PROPOSED $546,600
Operating Transfers In – FY2015 ACTUAL ($32,147) / FY2016 ESTIMATED ($98,108) / FY2017 PROPOSED ($212,054)
Total – FY2015 ACTUAL $293,914 / FY2016 ESTIMATED $322,852 / FY2017 PROPOSED $334,546

Fund Balance
Beginning – FY2015 ACTUAL $72,120 / FY2016 ESTIMATED $94,855 / FY2017 PROPOSED $94,855
Ending – FY2015 ACTUAL $94,855 / FY2016 ESTIMATED $94,855 / FY2017 PROPOSED $94,855

GENERAL PURPOSE SCHOOL FUND
Revenues
Local Taxes – FY2015 ACTUAL $9,589,244 / FY2016 ESTIMATED $9,624,995 / FY2017 PROPOSED $9,471,000
State of TN – FY2015 ACTUAL $11,868,000 / FY2016 ESTIMATED $12,744,476 / FY2017 PROPOSED $12,607,536
Federal Government – FY2015 ACTUAL $96,886 / FY2016 ESTIMATED $109,713 / FY2017 PROPOSED $109,939
Other Sources – FY2015 ACTUAL $4,423,984 / FY2016 ESTIMATED $2,720,361 / FY2017 PROPOSED $1,257,595
Total – FY2015 ACTUAL $25,978,114 / FY2016 ESTIMATED $25,199,545 / FY2017 PROPOSED $23,446,070

Expenditures
Personnel – FY2015 ACTUAL $14,160,234 / FY2016 ESTIMATED $16,624,185 / FY2017 PROPOSED $17,169,155
O & M – FY2015 ACTUAL $7,001,611 / FY2016 ESTIMATED $6,420,439 / FY2017 PROPOSED $6,026,915
Transfers, Net – FY2015 ACTUAL $53,229 / FY2016 ESTIMATED $1,995,920 / FY2017 PROPOSED $250,000
Total – FY2015 ACTUAL $21,215,074 / FY2016 ESTIMATED $25,040,544 / FY2017 PROPOSED $23,446,070

Fund Balance
Beginning – FY2015 ACTUAL $4,334 / FY2016 ESTIMATED $3,767,407 / FY2017 PROPOSED $3,926,408
Ending – FY2015 ACTUAL $3,767,407 / FY2016 ESTIMATED $3,926,408 / FY2017 PROPOSED $3,926,408
Employee Positions – FY2015 ACTUAL 255 / FY2016 ESTIMATED 264 / FY2017 PROPOSED 259

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