Fayetteville introduces tentative budget

— Mayor Mark Olson introduced the tentative budget for 2012-13 at the Fayetteville Village Board of Trustees meeting Monday night.

The total proposed budget is $5,195,985, a 1.4 percent increase from last year. The tax rate hasn't changed, however, and will remain at $6.70 per $1,000 of assessed value for the fourth straight year.

“I think it’s a responsible budget,” Olson said. “At the end of the year we’ll have to move some money around like we always do, but we’re moving in the right direction.”

The budget calls for a raise for the village board of trustees and village justices, but not the mayor. No substantial cuts or increases were made for any of the village’s main departments. The cost of health insurance decreased and the cost of retirement accounts and workman’s compensation increased, Olson said.

The 2010-2011 fiscal year saw the village have a surplus from its department of public works budget, but the town had to pay for a repair to a sewer pipe on Elm Street recently, Olson said.

In the proposed budget, $1,922,462 is to come from taxes, with the rest coming from other revenue sources and the unexpended fund balance.

The board will hold budget hearings starting with its meeting on March 12 and will vote to adopt the budget on April 23, Olson said. The village’s fiscal year runs from June 1 to May 31.

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