The Centerville City Council during its special 5:30 p.m. meeting Thursday at City Hall reviewed and discussed the projected fiscal year 2015 budget with department heads.
Fiscal year 2015 starts July 1 and ends June 30, 2015.
Centerville’s budget must be completed and submitted to the state by March 15, Patrick Antonen, city administrator, said.
Antonen took the council through the various budgets with help from department heads and budget worksheets.
The city’s total levy is projected to increase 4.76 percent for FY 2015, Antonen said. The total tax levy is projected to increase by $.84 from last fiscal year, going from $17.4882 in FY 2014 to a projected $18.3213 in FY 2015.
Antonen said for a house with a $100,000 assessed valuation that comes to a $80 per year increase.
“As of right now the budget is positive,” Antonen said. “So we do not have a deficit.”
Walmart added $5 million to Centerville’s regular actual valuation, Antonen said, going from to $188,270,933 in FY 2014 to $193,352,697 in FY 2015. Even Centerville’s agricultural actual valuation increased, going from $572,160 in FY 2014 to $722,220 in FY 2015.
Other highlights from the budget workshop:
Antonen talked about the general obligation capital loan notes for the upcoming West and East State streets and North 10th Street paving project. He said the issue date is expected to be in May, the amount is expected to be $4,495,000 with the notes paid off in 2026.
Antonen talked about several line items contained in the city’s FY 2015 fund balance projections worksheet.
One was a projected ending balance of $53,967 in the general fund. Uses for that money could include an additional code compliance officer or a seasonal parks employee, Antonen said.
The second item Antonen brought up was the projected $460,590 deficit in the water fund reserves due to costs associated with water infrastructure for the East and West State streets and North 10th Street paving project.