Friday's Internet Edition, July 04, 2008.
for 2004-2005
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News editor -
The Copperas Cove City Council is expected to take a look and approve the City Managers Proposed Budget for fiscal year 2004-05 during a special council meeting today.
The council was first presented with the budget during a July 20 city council meeting.
Under the budget, the General Fund will have a beginning balance of $2,695,641 with revenues expected to bring in $10,671,505. Expenditures for the General Fund are expected to be at $10,693,717 for a fund balance of $2,673,429.
The Water and Sewer fund will have a beginning balance of $1,532,598 and is expected to receive $7,154,771 in revenues. Expenditures have been predicted at $7,104,771 for an ending fund balance of $1,582,598.
The Solid Waste fund is looking to add $2,392,300 in revenue to the beginning fund balance of $150,656. With expenditures at $2,121,052, the ending fund balance would be at $421,904.
The Golf Course fund is expected to have a negative beginning balance at -$53,817. With revenues at $659,500 including the $65,000 transfer from the General Fund and expenditures of $621,564, the ending fund balance will be -$15,881.
Key points in the budget include the adjusted pay grade for patrol officer positions to pay a minimum of $28,500 per year.
Also included is the water and wastewater rate increases, which council is also expected to vote on tonight.
Under the new water rates, a customer with a 3/4-inch water line whose current minimum bill is $10 and water is $2.17 per 1,000 gallons will have to pay a minimum of $11 and $2.45 per 1,000 gallons.
Customers with one inch lines who currently pay a minimum bill of $14 with $2.60 per 1,000 gallons will have to pay $15.50 minimum and $2.91 per 1,000 gallons.
For a customer who uses about 5,000 gallons per billing cycle and pays $44.40 will have an increase by 14.30 percent.
The reasons stated by City Manager Steve Alexander for the needed increase is due to increased cost of water, added debt service and the loss of about 400 accounts.
During the meeting, council will also adopt the tax rate for the fiscal year 2004-05.
Currently the tax rate is 77.50 cents per $100. Under the proposed budget, the tax amount is expected to stay the same.
Council will meet at City Hall tonight at 6 p.m.