PDT Staff Writer
The city of Portsmouth is in the process of approving their tax/revenue budget for 2014. That budget projects income of $33,761,000 for 2014, up $282,000 from 2013. The General Fund is anticipated to bring in $12,200,000, up $200,000 from 2013.
Obvious differences include a drop from $140,000 to $130,000 in the Police and Fire Pension fund; a slight increase of $40,000 in Sanitation, most likely somewhat reflecting the rate increase, and a jump from $162,000 to $179,000 in Trust and Agency funds.
In 2013, under the heading - “Special Revenue & All Other Funds” - the city was anticipated to receive $33,479,000. In 2014 that number jumps to $33,761,000.
The main source of income for the city is taxes, but some funds, such as Waterworks, Wastewater Treatment and Sanitation are supported by fees billed to the citizens of Portsmouth.
Council is considering a resolution providing for the annual tax budget for municipal purposes for 2014 because it is necessary to provide the annual tax budget for the fiscal year commencing Jan. 1, 2014, and to have that budget certified by the Auditor of Scioto County.
Frank Lewis may be reached at 740-353-3101, ext. 252, or at email@example.com. For breaking news, follow Frank on Twitter @FrankLewisPDT.