The Galesburg City Council needs to have an FY17 budget finalized by the end of the month. Tonight, the spending plan is on the agenda for approval.
Aldermen have been working through financials for the better part of the year. Council documents show the general fund budget is right around $23 million.
City Manager Todd Thompson said at last week’s work session that the $344,000 difference between revenues and expenditures would be made up in city reserve funds.
The budget seemed to satisfy a majority of aldermen who verbally voted in favor, though, it would not come without some cutbacks. Just under six city staff positions will be reduced and restructured. However, no layoffs would occur.
Meanwhile, the city’s 2016 property tax levy is on first read at tonight’s meeting. Thompson has said formal adoption is expected December 19, after the city holds a Truth in Taxation hearing.
The levy will raise by 7 percent and a hearing is required anytime a public entity raises their levy over 5 percent. The increase to the aggregate levy has already been abated by taxes that funded a bond issue payment, meaning taxpayers will not see an increase on their bills.
Tonight’s meeting is scheduled for 6:30 p.m. at City Hall.
