City of Walton, Kentucky
Ordinance Number 2010-05

AN ORDINANCE ADOPTING THE CITY OF WALTON, KENTUCKY ANNUAL BUDGET FOR THE FISCAL YEAR JULY 1, 2010 THROUGH JUNE 30, 2011 BY ESTIMATING REVENUE AND RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY GOVERNMENT.

            WHEREAS, an annual budget proposal and message has been prepared and delivered to the City Council;

            WHEREAS, the City Council has reviewed such budget proposal and made necessary modifications.

            NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of Walton, Kentucky as follows:

SECTION 1:

The annual budget for the fiscal year beginning July 1, 2010 and ending June 30, 2011 is hereby adopted as follows:

 

General
Fund

Municipal
Aid Fund

Park
Fund

Water/
Sewer
Resources Available Fund Balance/
Retained Earnings Carried Forward
741,961
139,543
149,679
909,222
         
Estimated Revenue
Property Taxes
410,000
74,000
   
Licenses / Permits
500,000
     
Intergovernmental
 
47,400
100,000
 
Discretionary Funds
 
150,000
   
Tax Penalties
3,000
     
Charges for Services
     
1,671,200
W-V Veterans Memorial
2,000
Miscellaneous
8,000
24,400
Interest
5,000
2,000
3,000
5,000
 
Total Estimated Revenues
928,000
273,400
127,400
1,676,200
 

Total Resources
Available for Appropriation

1,669,961
412,943
277,079
2,585,422
 
Estimated Appropriations:
General Fund
461,590
Public Works
144,720
423,000
Water & Sewer
1,305,505
Parks & Recreation
147,300
Economic Development
Debt Service
249,870
Total Appropriations
606,310
423,000
147,300
1,555,375
Excess of Resources
Over / Under Appropriations
1,063,651
(10,057)
129,779
1,030,047
         
Operating transfers
(150,000)
150,000
   
         
Estimated Fund Balances / Retained
Earnings-end of Fiscal Year
913,651
139,943
129,779
1,030,047

  SECTION 2:

This Ordinance shall be in effect upon passage and publication as required by law.

Approved and passed on first reading by 6 Members of City Council on the 10th day of June, 2010.

Approved and passed on second reading by 6 Members of City Council on the 14th day of June, 2010

Date of Publication: June 24, 2010

Approved: Phillip W. Trzop, Mayor
                    
Attest:  Peggy Gray, City Clerk

 

A copy of this budget is available for inspection at City Hall 40 North Main Street during regular business hours:  8:00AM to 5:00 PM Monday through Friday.