The Kilmarnock Town Council will conduct a public hearing on a proposed budget for the fiscal year beginning July 1, 2018, and ending June 30, 2019, when it meets at 7 p.m. Monday, May 21, at the Town Hall, 1 North Main Street, Kilmarnock.
The budget totals $4,800,639, including the general fund, $3,043,399; water fund, $602,759; and sewer fund, $1,154,481.
The general fund portion is based on anticipated operating revenues of $2,207,034 and carryover funds totaling $836,365.
Estimated expenditures total $2,639,918, including administration, $1,017,958; public safety, $453,853; public works, $357,858; capital improvement projects, $430,000; debt service/Main Street, $155,199; debt service/Town Centre Park, $225,050; and sewer fund transfer, $403,481.
The water fund portion includes anticipated operating revenue of $420,630 and a transfer of $182,129 from the fund balance.
Estimated water fund expenditures include operations, $309,954; debt service, $58,105; and capital improvement projects, $235,000.
The sewer fund portion of the budget includes anticipated operating revenue of $751,000 and a general fund transfer of $403,481.
Estimated expenditures include operations, $648,099; debt service, $266,382; and capital improvement projects, $240,000.
As proposed, the budget will not require a tax rate increase. The proposed tax rates are $.10 per $100 of assessed value for real estate, and $.16 per $100 of assessed value for personal property.