It wasn’t easy, but the Oxford Village Council last week approved a balanced budget for the 2004-05 fiscal year without increasing the property tax rate.
Council approved a $2,254,580 General Fund budget along with other budgets totalling $3,986,865. To finance the new budget, council set the property tax rate at 12.62 mills for the third consecutive year.
Councilman Steve Allen said despite ‘extraordinarily tight financial circumstances,? officials were able to put together ‘a decent balanced budget.? He credited the village’s department heads for their contributions to this effort.
‘Council is very cognizant of the quality of the department heads that this village has,? he said. ‘I’d like to personally thank them for getting involved in these (budget) sessions to really let us know where they felt like their budgets were hurt or needed attention or even being honest with us to the point of saying, ‘No, that can be reduced.? Without them, it would be very difficult because we (council) don’t have a day-to-day handle on everything that goes on in these departments.?
A ‘Budget Highlights? sheet prepared for the public describes 2004-05 budget, which takes effect July 1 and ends June 30, 2005, as ‘cautious in nature? and notes it ‘does not propose any new spending.?
‘The reason for the caution is that the Village faces significant unknown expenditures for items already in consideration: cityhood, ongoing litigation over Grove’s property, fire service/OPFEC issues and potential capital expenditures to aid in downtown development,? the sheet stated. It was noted that ‘increases in property tax revenues offset revenue losses from State revenue sharing.?
‘Revenue sharing has declined over $50,000 to $263,587 projected in 2004-05,? the sheet stated. ‘Additional cuts in this revenue are possible during the budget year as the State of Michigan continues to address its financial issues.?
In addition to the $2.25 million General Fund budget, council also approved $190,532 for Major Streets; $72,394 for Local Streets; $36,013 for Municipal Streets; $718,450 for the Oxford Community Development Authority; $46,720 for the Building Authority; $158,745 for Fire; $712,097 for Police; $242,175 for dispatch service; $594,863 for Sewer Fund; $897,701 for Water Fund; $299,708 for Motor Equipment (DPW); and $17,467 for the bond debt on the northeast parking quadrant.