Sunday, June 16, 2024
71.3 F
Kilmarnock

Town council adopts budget; okays $2 million bond issue

by Madison White Franks 

KILMARNOCK—By a unanimous 6-0 vote, the town council on June 19 adopted Kilmarnock’s fiscal year 2017-18 budget. Effective July 1, the budget includes a general fund total of $2.9 million and a utility system total of $1.7 million for a total budget of $4.7 million.

Council member Keith Butler moved to adopt the proposed budget as presented and council member Michael Sutherland seconded.

“I want everyone to understand and to appreciate that we are putting in a $3 million park and we have this budget where your taxes have not gone up nor has your water bill. I think we have done a fine job,” said vice-mayor Rebecca Nunn.

Council members Betsy Crowther, Emerson Gravatt, Dr. Curtis Smith, Butler, Sutherland and Nunn all voted in favor.

Borrowing money

Following a public hearing where no one spoke, council moved forward on the issuance of general obligation bonds of the town in the estimated maximum principal amount of $2 million dollars.

The purpose of the bonds is to finance, together with other available funds, capital improvements to the Kilmarnock Town Centre Park.

“We knew we would have to borrow some money for the park,” said town manager Tom Saunders.


Read the rest of this story in this week’s Rappahannock Record at newsstands throughout the area, or sign up HERE to receive the print edition by mail and/or the e-Edition on your computer, tablet and smart phone.

Rappahannock Record Staff
Rappahannock Record Staffhttp://www.rrecord.com
From the Rappahannock Record news team

Follow us on Social Media

Your Local Weather

Kilmarnock
clear sky
71.3 ° F
73.1 °
67.7 °
88 %
1.3mph
0 %
Sun
81 °
Mon
83 °
Tue
83 °
Wed
82 °
Thu
81 °