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Town budget shortfall reduced nearly $100K

After combing through their proposed 2009-10 budgets in search of additional cuts, Town of Pulaski department heads have managed to reduced a $158,000 shortfall to just over $64,000.
Pulaski Town Manager John Hawley recommended the remaining shortfall of $64,261 be pulled out of the town’s un-appropriated funds balance, “otherwise, we’ll have to start cutting programs.”
Although they have set the real estate tax rate at 30 cents per $100 of assessed value for the coming fiscal year, no formal vote on the budget will be taken until June.
Tuesday evening, Pulaski Town Council once again discussed the budget during a specially called work session. It appeared to be the consensus of council that the shortfall be covered by the un-appropriated funds since it would be a bad time to cut funding to public services which are needed in the present economy.
According to Hawley, the $64,000 will not come out of a required 10 percent reserve fund. He said it would come from a separate un-appropriated fund account that currently stands at about $350,000 – $450,000.
Finance Director Sherry Boyd pointed out that the reserve funds will not be transferred into the budget if revenue projections end up higher than expected.
Total revenue projections are $7,589,012, compared to $7,653,273 in projected expenditures.

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Town budget shortfall reduced nearly $100K

After combing through their proposed 2009-10 budgets in search of additional cuts, Town of Pulaski department heads have managed to reduced a $158,000 shortfall to just over $64,000.
Pulaski Town Manager John Hawley recommended the remaining shortfall of $64,261 be pulled out of the town’s un-appropriated funds balance, “otherwise, we’ll have to start cutting programs.”
Although they have set the real estate tax rate at 30 cents per $100 of assessed value for the coming fiscal year, no formal vote on the budget will be taken until June.
Tuesday evening, Pulaski Town Council once again discussed the budget during a specially called work session. It appeared to be the consensus of council that the shortfall be covered by the un-appropriated funds since it would be a bad time to cut funding to public services which are needed in the present economy.
According to Hawley, the $64,000 will not come out of a required 10 percent reserve fund. He said it would come from a separate un-appropriated fund account that currently stands at about $350,000 – $450,000.
Finance Director Sherry Boyd pointed out that the reserve funds will not be transferred into the budget if revenue projections end up higher than expected.
Total revenue projections are $7,589,012, compared to $7,653,273 in projected expenditures.

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