According to a presentation made to the City of Vandalia’s Board of Aldermen, the 2015-2016 budget that they passed is balanced with revenues that are relatively flat.
Meanwhile, operational costs are continuing to grow. Regulation is costing citizens due to the EPA and DNR.
Some of the highlights include:
• Park Fund decreased by $24,296 to $90,381 for pool painting
• Water/Sewer fund is decreased $29,999 to $510,605. This is based on making the part of the debt service payment from the fund balance. The process will continue for two years when the debt is paid off.
• The General Fund has increased from $22,144 to $188,771
• There is an Electric Fund increase of $17,976 to $502,165
The lone rate change increase is a $3 increase for water surcharge. The rate was $1.50/1,000 gallons in June 2011.
The Sewer Capital Surcharge Rate remains $1.20/1,000 gallons as it was in July 2012.
Capital expenditures show a total of $608,157 with $2,310,439 in the Capital Improvement Fund.
A wage increase is equal to approximately $.30 included/approved.
According the numbers, there is a negative fund balance of $284,986 for FY 2015-2016. This is based on financing the cost of the MGT repair with fund balance. It will take about four years to repay the fund.
The Budget Summary shows $4,587,602 in revenues with a base budget of $4,288,031.
With $608,517 in capital and supplemental expenses, the budget shows a net balance of $308,946.