You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

City will tap into reserve funds

New Carlisle expects to end 2013 with about $7,500 in carryover money.


City council is considering a nearly $5 million overall budget for this year, but the city expects a drastic drop in its general fund carry-over balance by year’s end.

The city had nearly $55,000 in carry-over funds as of Jan. 1, but the estimated ending balance for Dec. 31 is expected to be slightly more than $7,500, according to the proposed budget.

“We’re just trying to make it through the year,” City Finance Director Richard Sexton said Tuesday, but added that figures could change at any time when or if the city sells some assets, such as properties in the failed Twin Creeks development.

Remaining properties there are expected to be deeded over to the city, pending agreements with the county, then sold for the city by a real estate service this year effectively increasing revenues.

Requested appropriations include nearly $1.5 million to the general fund, more than $1.4 million to its special revenues funds, nearly $197,000 to its debt service funds, more than $106,000 to its capital project funds and nearly $1.8 million to its enterprise funds.

Revenues to its street construction fund will increase this year after voters passed a 2-mill levy in March 2012, but exactly how much additional money is brought in remains to be seen, Sexton said.

Officials previously estimated $140,000 in levy money will supplement the approximately $225,000 New Carlisle raises from taxes on gas sales and car registration fees each year.

City officials and council haven’t yet discussed specifically how the city will spend the additional street revenues, Sexton said, but officials have said some could directly go to fixing streets and some could be used as local match for state grants.

A third phase upgrade of the wastewater treatment plant is needed, Sexton said, but that would likely have to wait because the city doesn’t have the funds for a required 20 percent match. The city completed the more than $1 million grant- and loan-funded phase two portion last year.

Council is expected to vote on the budget at its regular meeting March 18.

In other business, council unanimously agreed to allow City Manager Kim Jones to sign an agreement with the Ohio Department of Natural Resources for funding to fix its tennis court surfaces, nets and hardware at Smith Park.

Funds totaling more than $23,240 will come from ODNR’s Recreational Trails Program, and the city will match it locally with nearly $7,750 in labor hours and local dollars.

If there’s any money left from the project, estimated to cost nearly $31,000, the city will use it to improve parking areas at Smith park, City Service Director Howard Kitko has said.


Reader Comments ...


Next Up in Politics

Women, supporters march in D.C., around America day after inauguration
Women, supporters march in D.C., around America day after inauguration

Two things became abundantly clear during a six hour span in the nation’s capital Saturday: Donald Trump begins his presidency facing a loud, raucous resistance, and that resistance is still figuring out how to tell its story. While hundreds of thousands descended on Washington, D.C. less than 24 hours after Trump was sworn in as president, the...
Some Springfield residents torn on income tax increase
Some Springfield residents torn on income tax increase

Springfield leaders say residents deserve another chance to vote to increase the local income tax after hundreds of thousands of dollars in cuts to city services, but some residents believe it’s unfair for residents to pay more. Voters narrowly rejected the income tax increase in November by about 200 votes. City commissioners voted this week...
Ohio key battleground in abortion fight
Ohio key battleground in abortion fight

Ohio is at the frontline in a battle over abortion rights that continues to rage on 44 years after the U.S. Supreme Court’s landmark ruling in Roe versus Wade . “I would argue, and we have the data to back this up, that Ohio and Texas are the key battleground states for the abortion debate. What happens in Ohio tends to trickle to other...
Local women in D.C. part of massive march
Local women in D.C. part of massive march

Hundreds of people from the Dayton region joined a massive Women’s March on Washington Saturday to speak out for women’s and human rights and against the conservative agenda of President Donald Trump. Millions also marched worldwide in sister marches, including one in Dayton. The crowd grew so large in Washington D.C. - more than half a...
New Carlisle seeks to fill empty council seat, welcomes new member
New Carlisle seeks to fill empty council seat, welcomes new member

The city of New Carlisle has a new city council member and will interview a handful of candidates to fill one more vacancy. The current opening is from the departure of former New Carlisle Mayor Lowell McGlothin, a longtime council member who won a race for Clark County commissioner in November. McGlothin had to resign his New Carlisle seat to take...
More Stories