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BREAKING NEWS

Spirit Lake approves $15.7 million budget

By Staff | Mar 20, 2008

SPIRIT LAKE — In special session Saturday, the Spirit Lake City Council approved a budget of $15,755,640, just $1,835,198 million of which will come from property taxes.

The budget assesses a mil levy of 10.544 on regular property and 3.00375 on ag land.

Other revenue sources include:

n Tax increment financing (TIF) revenues, $2,258,118.

n Other city taxes, $997,902.

n Licenses and permits, $60,800.

n Use of money and property, $110,500.

n Intergovernmental, $440,972.

n Charges for fees and service, $3,287,973.

n Special assessments, $2,000.

n Miscellaneous, $152,000.

n Other financing sources, $6,610,177.

Business type/enterprises will take up the largest portion of the budget at $4,431,523 of the expense side. Other expenses include:

n Public safety, 983,784.

n Public works, $854,256.

n Culture and recreation, $630,135.

n Community and economic development, $5,000.

n General government, $548,595.

n Debt service, $2,403,720.

n Capital projects, $561,790.

n Transfers out, $4,434,167.

During the budget public hearing, Dan Tryon asked that the city stop its annual payment to the YMCA. The council said it wanted to continue the commitment made to the YMCA made by a previous council.

With no other comments on the budget, it was unanimously approved.