LAKEPORT >> The Lakeport City Council held its first budget workshop for the 2015/16 fiscal year this week. Although still in draft form, revenues for the city are expected to total nearly $18.2 million and expenditures are estimated at $20.9 million.
Budget surpluses accumulated over past years will be used as one-time funds to cover the remaining $2.7 million.
The largest expenditure are capital improvement projects, which accounts for approximately $10.9 million. Nearly $4.8 million is allocated for salaries and benefits, the second largest expenditure.
Operations, loans/grants and debt services make up the remaining amount of expenditures, totaling approximately $3.3 million, 332,000 and $1.5 million, respectively.
As for revenues, the three top contributors are federal funding, totaling nearly $6.9 million; charges for service, which accounts for nearly $5.2 million and taxes, which nets a little more than $4.2 million for the city.
Objectives for the year were also discussed during the workshop, including the completion of the annexing the S. Main Street/Soda Bay Road corridor; increasing neighborhood watches and community programs; completing the Lakefront Strategic Plan and retaining authorized police staff to resubmit an application for a school resource officer (SRO) grant.
A little more than $2.5 million will be allocated for roads, which includes $1.9 million for the Downtown Lakeport Improvement Project.
The project, which is in Phase 2, proposes a number of improvements to downtown Lakeport such as landscaping, curb and drainage improvements, limited installation of street furniture, streetlights and the repaving of Main Street. Sidewalks will also be widened by two feet on both sides of Main Street; move street lights to the new edge of sidewalk; install new grates; plant trees; install new curb storm drain inlets, as well as sewer and water piping infrastructure
Buffalo added that road projects will continue as funds are available.
Infrastructure is allocated nearly $8 million, which will help complete U.S. Department of Agriculture water and sewer projects.
A total of a little more than $400,000 will be used for equipment and vehicles.
After an hour of discussion, the workshop was cut short in order to hold the council’s regular meeting.
Between the first workshop and final approval, some aspects of the budget may be amended.
A special meeting is tentatively scheduled for 6 p.m. on June 11, during which the Buffalo will discuss a deeper analysis of the city’s general fund.
Contact J. W. Burch, IV at 900-2022.
