A truncated Mount Sterling council approved, 4-0, the second reading of the proposed village budget for 2016. Council members Lowell Anderson and Diane Spradlin were absent from the special meeting but were excused.
The estimated budget figures include income in 2016 of $621,491, a slight change of $4,409 from income drawn in 2015 of $625,900. The majority of that estimated income will come from municipal income tax of $470,000.
On the expenditure side of the ledger, it is estimated the village will spend $527,741. Comparing that figure with expenditures to date in 2015, of $ 536,441.
The largest projected expenditure is $239,000 for contractual services, which is Madison County Sheriff at $234,000, plus other expenses.
Comparing revenue to expenses, the estimated surplus is $93,750.
Village administrator Joe Johnson said the projected carryover into 2016 will be $345,826, which is an increase of the carryover into 2015 of $298,212.
The special meeting was held in order to have the legislation go through three readings before it is to be adopted. The third reading will come at the Mount Sterling council’s regular meeting set for 7 p.m. Monday, Dec. 14 in the council chambers.
Johnson pointed out the available primary checking balance on Jan. 1, 2012 was $272,471. The amount in that same account as of Dec. 3, 2015 is $1,792,048. Elimination of local police department has allowed the village to save that much money. That was our biggest expense in the general fund Johnson said.
In other business, Johnson posted on the council chambers wall the revised drawings for the proposed water plant. He said eliminating the masonry exterior, and a curved roof and substituting them with metal and a more conventional roof will save up to $1 million.
Johnson said the re-design will go with pre-engineered building, which will save the village more than $1 million.
Bids for the revised structure will be opened 1 p.m., Dec. 22.
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