Crossville Finance Director Nathan Clouse said Crossville’s upcoming fiscal year budget is in good shape.
Clouse said the city is projecting revenue to sit around an estimated $34.6 million, while expenditures will slightly increase. Clouse said all of the city’s funds are showing a surplus and has put Crossville in a good spot.
“I sat down and did a pretty good historical analysis with every single account,” Clouse said. “Sat down with every department head and went through the history of every category with them and the city manager. We looked at everything closely and spent a lot of time coming up with the budget that we have, so I feel pretty confident in it.”
Clouse said the budget will contain a five percent raise and a two percent step raise for all city employees. Clouse said the city has budgeted an estimated $10 million for capital projects.
“We are finishing our fire station two,” Clouse said. “We started it this year, so that is looking to be completed next year. We also have a SPEC building, an industrial SPEC building that we got a grant for last year, that is in the budget for this year to be done. It’s semi-underway, but it’s looking to get finished in the next fiscal year. Those are two of the biggest projects that we have going right now.”
Clouse said the property tax rate will remain at 0.6059 per $100 of assessed value. However, Clouse said the city is projecting an increase in property tax revenue. Clouse said everything else is mostly staying similar to last year’s budget.
“With the interest rates kind of looming, those may drop, we changed interest rate income some,” Clouse said. “Everything else we will kind of leave them flat. I like to take a very conservative approach. I didn’t see a need for an increase or try to project an increase this year.”
Crossville has passed its budget on first reading. Two more readings follow.
