Star Valley’s $5.8 million 2014-15 budget won easy approval from the council on June 2.
The budget includes $3.1 million in reserves carried forward from FY 13-14.
The young town’s budget still relies heavily on fines from speeding tickets and includes about $527,465 in hoped-for grant money for various projects. That includes the Meals on Wheels program for the community’s senior citizens and ongoing improvements to its water department.
Additionally, the budget includes $410,682 in Highway Users Revenue Fund (HURF) money, most of it carried forward. The town must spend the state-shared gas tax money on road projects.
Star Valley plans to use $1.2 million for operating expenditures; $265,695 for personnel services; and $351,208 for capital projects. The $3.9 million balance is for restricted uses and savings.
This year revenues rose by 3 percent overall, despite a 7 percent drop in the money from the town’s photo enforcement speed cameras.
Finance Administrator Chancy Nutt reminded the council at the May 20 meeting with the creation of the B. Diane McDaniel Community Park, the town now needs a parks department. The 2014-15 budget includes about $50,000 for the park, which includes additional improvements.
The budget also includes the cost of replacing the town manager/town attorney, anticipating a possible change in staff after the upcoming election.
The budget also includes the recently approved improvements to Sprague Crossing and Moonlight Crossing.
In spite of these additions, Star Valley will maintain some $2.8 in its contingency fund and another $600,000 in its rainy day fund.