(Spirit Lake)– Spirit Lake city council members got their first look at the city’s proposed budget for the upcoming fiscal year at a special meeting Thursday evening.
The proposed budget contains some good news for property tax payers. The levy is at $10.31 per one thousand dollars valuation, down 27 cents from the current rate.
The proposed budget totals slightly more than 25.7 million dollars with a General Fund budget of slightly more than 1.9 million.
While it appears good on the surface, the proposed budget includes a surplus of slightly more than 105-thousand dollars. However, Balm says that suplus will have to be put toward lowering a 485-thousand dollar shortfall that’s accumulated in the city’s General Fund over the last several years.
The council will review the proposed budget one final time at it’s meeting this coming Tuesday. The council set March 7th as the date for a public hearing on the proposed budget.
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