Thursday, May 30, 2024
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Kilmarnock

White Stone holds first reading on proposed $251,405 budget

Lisa Hinton-Valdrighi
by Lisa Hinton-Valdrighi

WHITE STONE—The White Stone Town Council held the first reading of its proposed $251,405 fiscal year 2024-25 budget on May 2. A second reading and public hearing are scheduled for June 6.

The budget includes a projected revenue increase of $8,893 in the general fund. That number includes a projected $9,300 decrease in bank taxes and a $9,625 general fund balance. However, the finance committee anticipates a $22,000 increase in prepared food taxes and just over $2,000 more in utility reimbursement and rental income from the town hall’s back office space.

“The revenue side is very conservative this year,” said finance committee chairman Ran Reeves.

Council adopted a $242,512 fiscal year 2024 budget last June and amended that in November to include a public utilities category of $16,700. They also adopted a separate public utilities “stand alone” budget. The projected 2025 budget is an increase of $8,893 over the original 2024 budget. A separate public utilities budget is estimated at $137,875 for 2025.

Reeves further explained the expenditure increases are mainly due to….

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