Tuesday, June 23, 2015

Fort Thomas Kentucky Amended Budget (2014-2015)

FTM Budget Transparency Series
FTM file. 
In an effort to inform and make things as transparent as possible for the residents of Fort Thomas, Fort Thomas Matters will begin peeling back the budget, taxes and expenditures of the City of Fort Thomas in a series of reports.

The amended budget for fiscal year July 1 2014 - June 30 2015 was voted on at the last council meeting and passed unanimously. Each June, the finance committee meets with city staff and after getting requests from each department and committee, will allocate funds for the next fiscal year. This year's finance committee is comprised of John Muller, Lisa Kelly and Roger Peterman.

The following June when a new budget is being drawn, the previous year's budget is amended to reflect the actual revenues, expenditures and surpluses available.

The amended budget was first read on June 1, 2015 and was voted on and adopted on June 15, 2015.

The proposed totals have a strikethrough and the actual totals are listed next to those.

Estimated Carry-Over Balances:
General fund: $10,171,611
Road aid fund: $1,747,501
Central business district (debt) fund: ($776,305)

TOTAL REVENUES (taxes, fees, investment income, etc).

General fund:  $11,126,753   $11,046,253
Road aid fund: $598,500
CBD fund: $793,950

TOTAL AVAILABLE FUNDS
General fund: $21,298,364   $21,217,864
Road aid fund: $2,346,001
CBD fund: $17,645

TOTAL EXPENDITURES
General fund: $10,833,965   $11,082,315
Road aid fund: $435,550   $635,550
CBD fund: $920,712   $620,712

ESTIMATED SURPLUS
General fund $10,464,399   $10,135,549
Road aid fund: $1,910,451   $1,710,451
CBD fund: $903,067   $603,067


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FTM will examine the proposed budget for July 1 2015 - June 30 2016 in its next part of the Transparency FTM City Budget series. 

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