Cookeville City Council approved a first reading of its proposed budget Thursday that includes sales tax revenues over $14 million.
That’s the first time that has ever happened, according to Cookeville Finance Director Brenda Imel. Sales tax revenue makes up about 50 percent of the city’s projected $28.5 million revenue.
“That’s why our new shopping options were so important,” Mayor Ricky Shelton said. “That’s funded our growth in our city without having to raise taxes for the general fund.”
The new budget includes an increase of about $785,000 in revenues. Next fiscal year, the city plans to spend about $26.9 million with an additional $1.8 million in capital or non-recurring projects.
City employees would be eligible for possible merit raises, but no cost of living increases are part of this year’s budget.
Cookeville does plan to hire three additional firefighters and a city-wide Public Information Officer.
The council will hear the budget on second reading at its June 20 meeting.
