City approves 2014 budget, two-year capital improvement plan

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SHERIDAN — City Council adopted and approved the fiscal year 2014 budget and the two-year capital improvement plan for fiscal years 2014-2015 at its regularly scheduled meeting Monday.

The budget included one revision. Engineering professional services were overlooked and were added to the budget at a cost of $50,000, which will be taken from supplemental funds, city Treasurer Jennifer Reed said.

The final budget for fiscal year 2014 is $33,938,508. The fiscal year 2015 capital improvement plan budget is $5,025,000.

Reed also updated the council on the final figures for incoming sales and use tax for fiscal year 2013.
She said general fund and Optional One-Cent Sales Tax revenues are down from fiscal year 2012.
General fund revenues were down approximately $250,000, but the city budgeted low and came out ahead of budget by $40,000.

Optional One-Cent funds were down about $130,000, which the city had not budgeted for, meaning contingency funds may be used to cover the deficit. Reed did not expect that fourth-quarter dispersements for One-Cent recipients would be cut but said it is an option.

Books should be closed by late July or early August for the fiscal year 2013.

By |June 18th, 2013|

About the Author:

Hannah Sheely is the digital content editor at The Sheridan Press. She has lived in Colorado and Montana but loves her sunny home state of Wyoming best. She joined The Press staff in February 2013.