Oneida mayor unveils $18.3M proposed budget
ONEIDA — Mayor Leo N. Matzke presented a tentative 2018 city budget to the Common Council during their meeting Wednesday evening and they will finalize that budget over a series of workshops. These workshops will happen in advance of the budget being voted on by the end of December.
The proposed budget is $18,356,142. The amount raised by taxes is proposed at $4,121,773. The budget includes a capital improvement project in the amount of $8,243,426.
The budget would increase taxes 2 percent in the inside and outside tax districts, and 2.5 percent in the outside fire district.
The increases equal about $1.52 per month for a $100,000 home in the inside district and $.77 per month for a $100,000 home in the outside district.
Budget discussions are scheduled for tonight, Monday, Nov. 13 and Tuesday, Nov. 14 at 6:30 p.m.; Thursday, Nov. 16 at 7 p.m. and Monday, Nov. 20 at 6:30 p.m. The meetings will take place at the municipal building, 109 N. Main St.
A public hearing regarding the budget for Tuesday, Nov. 21 at 6:30 p.m.
A copy of the tentative budget will be made available at oneidacity.com.
Matzke said during the Nov. 8 council meeting that the budget has benefitted from increased sales tax revenue in the city and five new businesses locating to the city in 2017.
Matzke said city revenues are expected to increase by 2.4 percent, or $279,922 behind the 2017 numbers. “We are using less money from the fund balance to balance the budget this year, and it looks like the city should be in good standing for at least the next 10 years,” Matzke said.
The 2018 budget calls for $12,312,190 to fund all activities supported through the general fund. This is a decrease of one-half percent, or $62,906, the mayor said.
“The main consideration is that our revenues have increased while our expenditures this year are decreasing,” Matzke said.
Oneida’s general fund debt at the end of 2018 will be $4,211,134 with an annual payment of $478,006. Water debt will be roughly $2,070,000 with an annual payment of $467,614, and the sewer debt will be $8,454,125 with an annual payment of $324,869. The city has a credit rating of AA-.
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