Council gets first look at proposed budget
McCOOK, Neb. — The McCook City Council got its first look at the 2018-19 budget Monday night, with no increase proposed for the city’s property tax levy.
City Manager Nate Schneider said the budget was focused on replacing equipment for maintenance purposes, that have been put off for several years due to budget constraints and also for improvement projects in the city.
The property tax request will be the same as last year, at .3490 per $100 of valuation, or $1.390 million. Property valuations will be received from the county around Aug. 20, he said. Actual year-to-date numbers for 2017-18 property taxes is at $944,383.
General fund revenue next year is estimated at $8.15 million, up from $7.75 million from last year.
In addition to funding capital purchases, sales tax revenue will be also be used, starting this year, to fund reserves in department budgets, so equipment can be purchased without relying on financing payments. Schneider said. “We know financing some of the items is not a preferred way to purchase capital equipment,” he said. “ We also know there are additional items we need but are unable to afford at this time.”
Proposed reserve funds include: police and radio, $5,000, fire equipment replacement. $20,000, ambulance equipment replacement, $15,000 and ballpark, $10,000.
Sales tax revenue will also fund street improvements at the same level as in the past, he said, as well as the 10 percent match at $98,000 for airport improvements scheduled next year; repairing the HVAC equipment at the library, $110,000; and dredging Barnett Park, at $30,000. The council will have the option of determining how approximately $80,000 of uncommitted sales tax dollars can be spent, whether directed to streets, pool repairs or carrying the funds forward.
Around $2.435 million was collected last year from the 1.5 percent city sale tax, Schneider said. Half of the .5 percent is directed to the McCook Economic Development Corp.