Council passes 2017 budget
In a special meeting Friday, the Versailles City Council unanimously approved the city's budget for fiscal year 2017, which begins July 1. Each vote (general fund, enterprise fund and municipal aid road fund) was 4 to 0; council members Ann Miller and Gary Jones were absent. General fund revenues are estimated at $9,407,565, operating expenses at $9,123,183 and capital expenses at $630,700, with a $346,318 deficit leaving the fund balance at $2,835,659. Most of the deficit - $300,000 - stems from the creation of a new public safety escrow account to pay for large capital items like a new ladder truck and police station. The enterprise fund revenues (water and sewer) are projected to be $17,299,100, operating expenses at $6,170,033, capital expenses (including bonds for the new sewer plant) at $10,560,000, with a $569,067 surplus leaving the fund balance at $9,575,203. The municipal aid road fund estimates revenues and expenses at $163,805, leaving the fund balance the same at $175,058. Before the second readings and votes on the ordinances, council member Carl Ellis asked Mayor Brian Traugott if there was money in the budget for resurfacing the parking lot at the Falling Springs Arts and Recreation Center. Traugott said no. Last year, the matter arose during Woodford Fiscal Court's budget talks. Magistrate Gerald Dotson (Dist. 5) said he believed the job would cost at least $200,000. The county and city of Versailles jointly fund the Woodford County Parks Department, but Traugott said the parking lot belongs to the county.