Suwanee Adopts Fiscal Year 2015 Budget with no increase in millage rate

0
473

Suwanee City Council approved a $13.6 million fiscal year 2015 citywide operating budget. The FY15 balanced budget anticipates that revenues will be down slightly by almost 2 percent, Suwanee’s millage rate will remain 4.93 mills, and no resources from the City’s fund balance will be required. Suwanee’s fiscal year runs July 1 through June 30.

The general fund is the City’s main operating fund and is proposed to total $11.2 million, with Suwanee’s debt payment accounting for another $1.6 million in expenses. Operating expenditures for the general fund are anticipated to increase by about 5 percent.

Suwanee’s FY15 budget funds downtown and public art master plans, a new public works equipment operator position, 10.5 percent increase in health insurance expenses, and a merit salary increase for employees, up to 4 percent depending upon performance.

Council also approved a $31.4 million Capital Improvements Program (CIP) for 2015-19 and a $1.7 million fourth-quarter transfer from the 2014 general fund to the CIP. The CIP is used to fund the City’s long-term capital projects that include Buford Highway corridor improvements and other transportation projects, parks and facilities enhancements, and new/replacement vehicles and equipment.

LEAVE A REPLY

Please enter your comment!
Please enter your name here