(Okoboji)– The Okoboji city council spent a portion of their meeting Tuesday putting the finishing touches on the proposed budget for the upcoming fiscal year.
City Administrator Dennis Daly says they’re proposing no major changes in revenues or expenditures from the current budget. Daly says expenses anticipated for the 2004-’05 Fiscal Year will total about 2.2 million dollars with revenues expected to come in at slightly more than 1.8 million. The levy under the budget that’s being proposed is $4.88 per thousand dollars valuation…down about six cents per thousand dollars valuation under the current budget. Daly says they were able to lower the levy by refinancing bonds to take advantage of lower interest rates, resulting in much less cost to the city.
Daly is quick to point out though that not all is rosy with the city’s budget. Like everyone else, he says they had to make up for a hit in funding cuts from the state. The impact to Okoboji was about 25-thousand dollars. Daly says they were able to make up for it through an increase in property valuations.
The council set March 9th as the date for a public hearing on the proposed budget.
