Corning >> The Corning city staff presented the 2017-2018 fiscal year budget Tuesday, which showed an estimated fund balance by June 30, 2018 of $1,433,479.
City Manager Kristina Miller presented the rough-draft budget to the council, who found there were no changes needed. It will be brought to the council for final approval at the next council meeting.
This will be the first full year the city will receive transactions and use tax revenue funded by the passage of Measure A, which yields an estimated $940,000 in additional revenue due to the one-half cent sales tax increase, Miller said.
There are a significant amount of capital improvements proposed to be funded this year, with $640,000 set aside for Fire Engine 12, which will be financed, extrication equipment and a police radar trailer. The remaining funds will be transferred to a reserve account for the future replacement of city equipment.
Funding will be set aside, in the amount of $3,000, for a feral cat program. A solution to the feral cat issue has not been chosen as of Tuesday but Miller said she wanted to have the funds available for when that time comes.
The city pool at Northside Park is scheduled to be resurfaced in the coming fiscal year with $60,000 set aside for this project.
Yost Park will also be getting some upgrades, with $25,000 to support playground improvements.
The budget shows a 3 percent savings in electricity due to the solar installation project, expecting to offset increases in electricity costs.
The annual costs savings is unknown at this point, Miller said.
The total projected citywide…
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