Falkville to vote on $2.43M budget
The Falkville Town Council took its final step in preparing an operating budget for fiscal 2020-21 at a work session Sept. 28. The budget shows $2,431,623 in anticipated revenues and $1,427.878 in expenses, with the difference totaling $3,745, and it will be considered for approval at the next regular council meeting.
General Fund revenues are listed at $1,022,000, while $431,992 of that amount is set aside for expenses, leaving a balance of $590,118. Most of this amount is designated to offset deficit funding in court, police, fire, special gasoline fund, water and sewer and public works departments.
“We feel good about our finances and the good work that our department heads have done to keep expenses under budget,” said Mayor Ken Winkles. “This is the fourth year in a row that we’ve had the revenue growth needed to meet anticipated expenses.”
The mayor reported the town liquidated eight loans totaling more than $149,000 as a move to reduce interest expense.
“We were fortunate to have the money to pay off the town’s loans with high interest rates – the highest of which was 7.1 percent,” he said. “This will result in substantial savings in the long run.”
In other council business, Police Chief Aaron Burgess was approved for a New Chiefs Development Seminar in Montgomery Oct. 7-9 at a cost of $411.41.