It was not exactly Payson Budget 101, but budget basics were the topic at a recent special meeting.
The council incoming and outgoing met June 6 on money matters. Another meeting was held before the June 13 regular meeting to further explain budget details, and there also will be a meeting at 5 p.m., June 20 to look at the capital expenditures planned by town staff.
The town's chief financial officer, Glenn Smith, made the June 6 presentation, reviewing the town's various sources of income and proposed expenses.
Smith said the town's primary sources of revenue are: sales taxes from both retail and construction business; building permits; state shared revenues from sales and income taxes; the Highway User Revenue Fund; and the water department.
The town also has revenue from a variety of special funds, such as the capital projects fund; equipment replacement fund; grants for capital projects; park development fund; Green Valley Redevelopment Fund; the airport fund; the bed tax fund; the library district fund; and the gifts and grants fund.
Smith's presentation showed an estimated $26,831,900 in revenues for 2002-2003 and proposed expenses of $32,287,889. The difference will be made up through money from the 2001-2002 budget that was not spent.
"We need to keep operating expenses in line with our revenues," Council member-elect Robert Henley said.
"I'd like to see our expenses half-a-million down than what they are," Mayor-elect Ken Murphy said.
The session June 13 gave the council members an opportunity to see what Corporate Strategic Plan projects had been left out of the proposed budget.
Concerns expressed by council members included the lack of funds for a market study to bring town employee salaries in line with those in other municipalities and the planned reduction in paving projects.
These issues will be further reviewed in the future.