Geneva aldermen on Monday approved a $64,242,100 spending plan that is leaner, but balances the city’s operating budget despite increases in operating expenses and insurance and retirement costs.
A significant decrease in capital expenditures for infrastructure and expansionresulted in a net budget decrease of 15.6 percent. The general fund budget reflects income of $23,000 as a result of an increase in operating revenue, particularly sales tax revenue and utility tax increases from commercial expansion.
The property tax levy was up 6.3 percent to $2,498,500, and state income tax revenue rose by 2.4 percent. General fund operating expenses increased, largely because of the hiring of additional public safety officers and an increase in employee group insurance costs.
City Administrator Phil Paige said water and sewer rate studies will be presented to the council in early May.
Also on Monday, aldermen approved a $22,156 facade grant package that includes up to $5,000 for the new Cocoa Bean pastry shop under construction at 11 S. 7th St.
The grant will pay 50 percent of the cost of an exterior mural, currently estimated at $3,000.
