Fenton Council Approves Budget For Upcoming Fiscal Year
May 18, 2021
By Mike Kruzman / news@whmi.com
Fenton City Council has adopted an amended budget for the ending fiscal year while approving their budget for the upcoming.
City Council held a special meeting Monday which contained a public hearing for both budgets and the property tax millage rate to be levied in front of their decisions to approve them.
It was also an opportunity to look back at the previous year and consider the City’s accomplishments. A memo from City Manager Lynn Markland shows roughly $1.4-million in improvements made, which include a new roof over City Hall, the Police Department and the Library.
For the upcoming fiscal year 2022 budget, total revenues are expected to be down $145,000, mostly due to COVID Relief Funds that were received by the City last budget cycle. With a millage rate around 9.88 mils, Fenton City Council is anticipating total revenues to come in near $6.5-million. Budgeted expenditures are expected to be slightly higher with General Fund money being transferred to other funds to finance or subsidize. The City is projecting to still have a roughly $4.2-million fund balance on July 1st.
Several significant new expenditures have been highlighted for the upcoming year. The City is getting ready for projects that represent $4-million in road improvements, with Silver Lake Road and Main Street being the big ones- but they are also anticipating $2.7-million in grant funding for those two projects.
City Council unanimously approved the budget resolutions before them.