Troy council approves budget

Published 3:00 am Wednesday, September 24, 2014

The Troy City Council unanimously approved a $62.1 million budget for FYE 2015 at its meeting Tuesday night and discussed revenues from the current fiscal year.

Mayor Jason Reeves said the city collected the highest amount of revenues from its 2 percent sales and use tax and the utility department sold more power than any time in the city’s history.

“The city continues to grow, our sales tax revenue and our utility revenue has increased,” Reeves said. “We are excited about getting through this process. We did a good job of managing to the budget and will do that again this year. I’m grateful to the taxpayers and ratepayers for their continuing faith in our city — those that live, shop, and operate businesses here. We’ve been able to continue to grow and that’s a very positive thing in this environment.”

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The total budget for the general fund is $22.487,032 and the utility fund budget is $39,573,000, which makes up the total $62,060,032 budget.

Reeves said that there are no radical changes to the budget from the previous fiscal year. There was an increase in funding for city employee insurance and retirement as well as a step raise for employees.

“It is a small increase we offset by additional revenues,” Reeves said. “ There was a 2.5 percent cost of living step increase that was funded.”

In other business, the council:

• Approved a bid award of $1,313,250 to HD Supply, a company that will supply the city with new electronic meters so that meters can be read electronically rather than manually.

• Approved a bid award of $2,789,106 to The Creel Co. for sewer improvements done on the west and northwest areas of Troy in need of repair and replacements. SRF (State Revolving Funds) will pay for this project.

• Approved a contract with Custom Engineering Services to update the system that transfers data for the electric and water departments. They will be paid an hourly fee that comes out of profession fees fund.

• Went into executive session to discuss real estate and personnel related matters.